In the 13 years since the second edition was published, we've seen the following developments which dramatically impact consultants starting in the profession or veterans in the profession.
- Remote means of delivering services, from workshops to facilitation, from strategy to M&A work.
- A waning of the power and repute of huge firms because of their cost and ponderous work methods, and a reception of less expensive, quicker small firms and solo practitioners. The mammals are scurrying amidst the dying dinosaurs.
- A globalization of economy (that will resume post-pandemic) making exported knowledge a key contributor to income (if it were considered formally as an export it would seriously shift the trade imbalance).
- The emergence of an African middle class, the decline of ancient dictators, and the growth of a huge potential marketplace in most countries on that continent.
- The growing abandonment of "career" and reliance on large companies and the inclination to forge one's own security and focus instead on a "calling."
- Advanced technology that effectually replaces meetings and keynote speeches delivered in person with Zoom and Livestream broadcasting of high quality.
- Tele-health demonstrating that "tele-consulting" is feasible and acceptable. Even therapy is being done this way today.
- A strong move from project work to advisory work which is as strong a shift as 30 years ago when I pioneered a shift from hourly billing to value-based fees.
- A huge change in social mores that include social consciousness, racial justice, and embrace of varying life styles. These are especially important in future strategy.
- Remote project work.
- Advisory work fee calculations.
- Establishing retainer amounts.
- Formulas for collaboration work.
- Formulas for subcontracting work.
- "Evergreen" clients (multi-year work).
- Fees based on monetization, emotional impact, and peripheral impact.
- The role for pro bono work.
- The formula for "fee/free" interaction.
- The relationship between premium fees and brand power.
- Charging and collecting fees internationally.
Share This Book: