Nearly half of small consultancies fail within their first five years, but over 250 are sold every month. How do you ensure you are in the right group? How can you successfully grow a consulting firm? How do you maximise the value of your consultancy for an exit or investment?
This is the first evidence-based book to tackle these questions. Based upon interviews with 72 founders who grew and sold their firms, two international surveys, and a long career researching and advising consultancies, Professor Joe O’Mahoney provides a detailed, evidence-based approach to successful growth and exit for consultancy leaders.
Accessible, evidence-based and written by a leading expert in the field, this book is essential reading for anyone looking to set up, grow or sell their own consultancy business.
Table of Contents
Acknowledgements, Preface, 1 Introduction, 2 Leading for Growth, 3 Strategy and planning for growth, 4 Marketing for growth, 5 Building intellectual property, services and products, 6 Business development, 7 Firm design for growth, 8 Managing talent for growth, 9 The buying process: preparing for sale
Joe O’Mahoney is an award-winning expert on the consulting industry. After practicing as a corporate, independent and internal consultant, Joe started his own firm, which he sold in 2008. Since 2003, Joe has been Professor of Consulting at Cardiff University and a consultant to the consulting industry. He has advised companies such as McKinsey & Co., IBM and Deloitte on growth, innovation and strategy, and helped numerous small firms grow towards a profitable sale. Joe has won awards for his research, writing and teaching about the consulting industry from the Chartered Management Institute, the Centre for Management Consulting Excellence, the British Academy of Management and the ESRC.
"A great refresh for the consulting industry that builds on Maister’s epic on firm management. An important resource for anyone looking to start, scale and transition a services firm. Not just for partners but for anyone looking to build an ownership mentality at a firm."
- Edward Beals, Founding Partner, Loft9; Partner, Sia Partners
"Joe O’Mahoney’s research into the successes and failures of those who have started and grown their own consultancy businesses is outstanding value to those on their own journey. Joe has captured the key lessons that consulting business leaders have drawn in growing and selling consultancies, and has included case studies that bring these lessons to life. Joe writes with great good humour that makes this book an easy read."
- Calvert Markham, Ex-CEO & Founder, Elevation Learning (sold)
"Prof. Joe O’Mahoney is the David Maister for growth."
- Danco Dimkov, Founder & CEO BizzBee Solutions
"This is the book I should have read twenty five-plus years ago when I set up my first consultancy. Like most consultants, I assumed my basic business knowledge would be sufficient. I can see now that it wasn't. Joe brings out so many pointers which will steer both the fledgling and established consultancy community. Essential reading."
- John Oliver, OBE Ex-CEO Leyland Trucks
"Prof. Joe O'Mahoney was able to superbly crystallize the essence of how to grow your consulting business via hands-on case studies and real life experience. I recommend the book to consultancies owners who have big aspirations."
- Damien Duhamel, Founder & Ex-CEO, Solidiance
"The book provides a fantastic guide to growing and preparing to sell your business, grounded in quality data and anecdotal experiences from the people who've lived it."
- Julie Barber, Founder & CEO of Spark! Consulting
"In this insightful, easy to digest book, Professor Joe O'Mahoney gathers insight from people who have been there and done it. In doing so, he teases out the remarkably similar themes and stages of the journey that anyone has tried, has experienced. I only wish I had read this when I was starting out. There are always blood, sweat and tears as you build a business, but reading this may have saved a few of each!"
- Logan Naidu, CEO of Dartmouth Partners
"A most impressive book, packed with useful ideas and tips about how to embark upon the process of preparing for and selling a Consulting business. I only wish I had access to it when I started out on my own journey of selling my company."
- Nigel Povah, Founder & Ex-CEO of A&DC
"This book is a must-read for all consultants, young and seasoned alike. The book contains a wealth of insights and analyses that will not only challenge your thinking and expand your views but also provide you with a roadmap toward building a successful and sustainable business."
- Dr. Dorel Iosif, Founder & CEO of Lavaux Global
"Essential reading for anyone who is looking to start, build or sell a consulting business. Joe has a deep understanding of how management consulting firms are grown for success."
- Mark Palmer, CEO of Gobeyond Partners