In this podcast we talk about one critical lesson from TCO III / IV: how being likeable effects one's performance during consulting case interviews.
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In this podcast, and related article, we are going to talk about value-based fees. And I am going to explain to you why value-based fees seldom work. We will also explain why value-based fees are misunderstood. And they are misunderstood in a very fundamental way.
Value-based fees can only work if certain supply and demand conditions in the market are met, or if your client is naïve. If a consulting firm understands this concept, they have a higher probability of securing higher-margin value-based fees.
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A very common strategy for a management consulting firm to displace an incumbent and serve a client is to show an problem / insight / opportunity that the client has not realized before. Unfortunately, this does not work that well in building client relationships and driving sales. In fact, a brilliant insight by itself may even lead to more work for the competition.
In this podcast, and related article, we discuss this issue and address how to fix it.
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In this podcast, and related article, we discuss how to manage failure.
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