"If you don't do it excellently, don't do it at all. Because if its not excellent, it won't be profitable or fun, and if you're not in business for profit or fun, what are you doing there?" So wrote Robert Townsend in 'Up the Organization' published 50 years ago.
In this Showcase we shared the results of Prof Joe O'Mahoney's ongoing research that has examined how some consulting businesses were sold for £millions while others tanked. Some of the ingredients of success may have come as a surprise.
With Joe we also welcomed Rajen Madan, who brought hands-on experience of successfully growing consulting businesses. Our two panellists explained how small companies can navigate obstacles to growth through learning from the mistakes of those who have gone before.
Dr. Joe O'Mahoney is Professor of Management Consulting at Cardiff University. He is currently completing a two year project interviewing 50 founders that have grown and sold their consulting firms, as well as several buyers and other experts. His book on the topic will be published in April 2021. Joe has been an independent, corporate and internal consultant, and has studied the industry as an academic for 15 years. He is also the Founder and CEO of Consulting Mastered.
Rajen Madan is the Founder and CEO of Leading Point Financial Markets. He is a business leader with first-hand experience in starting, scaling and exiting three consulting businesses over the last 18 years. He is particularly interested in the new breed of consulting service firms which provide products and delivery in Financial Services, Pharma and Energy sectors. His latest venture is Leading Point - an award-winning firm focused on helping financial services firms. Its expert data practices generate process and revenue efficiencies for established FS firms, Fintech and Data-Tech innovators and its products address the regulatory risk consolidation and digital workflow requirements in risk, compliance, legal and finance.
A video of the full session can be viewed here:
Dr. Joe O'Mahoney, Professor of Management Consulting at Cardiff University
Rajen Madan, Founder and CEO of Leading Point Financial Markets