At Zapnito we sometimes come across an article that sums up our observations and thinking in a better way than we can ourselves. This 2013 piece from Harvard Business Review on changing dynamics in the consulting sector is one such piece.
Our key takeways are:
- The traditional boundaries between professional services are blurring, and the new landscape will present novel opportunities.
- At traditional strategy-consulting firms, the share of work that is classic strategy has been steadily decreasing and is now about 20%, down from 60% to 70% some 30 years ago.
- Consultants now need to think like publishers. Publishers need to provide consultant-like services... not just push out syndication content.
- Consulting clients rely on brand, reputation, and “social proof”, that is, the professionals’ educational pedigrees, eloquence, and demeanor.
- 'McKinsey Solutions' - software and technology-based analytics and tools that can be embedded at a client, providing ongoing engagement outside the traditional project-based model - marked the first time the consultancy unbundled its offerings and focused so heavily on hard knowledge assets.
- This marked the start of a trend involves the packaging of ideas, processes, frameworks, analytics, and other intellectual property for optimal delivery through software or other technology.
- Such tools can be more quickly and efficiently leveraged by the client, and teams don’t have to reinvent the wheel with each successive client.
Contact us to discuss how Zapnito can help you develop new products and services from your consulting expertise.