Episode 110: The Secrets To Consulting Growth with Joe O'Mahoney and Rob Garner
Aug 19, 2022
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Professor Joe O'Mahoney and Rob Garner discuss the inner workings of consulting M&A and the factors involved in building, buying, or selling a consulting firm. They explore the value of a consulting business, common areas assessed in deals, and hidden benefits. Other topics include productizing consultancy services, building a strong leadership team, benefits of professional service automation software, and growth areas in a consulting business.
Having a clear focus on growth, operational efficiency, and M&A is essential for consulting firms.
Well-managed back office operations, including mature processes and data visibility, are crucial for sustainable growth and successful M&A opportunities.
Deep dives
Focus on Growth and M&A
The podcast episode explores the topics of growth strategy and mergers and acquisitions (M&A) in the consulting industry. The interview features Professor Joe Omani, a consulting expert, and Rob Garner, a partner at Garwood Solutions. They discuss the importance of having a clear focus on growth, operational efficiency, and M&A for consulting firms. The conversation delves into key considerations when building, buying, or selling a consulting firm, including understanding market opportunities, assessing leadership teams, and evaluating service propositions. They emphasize the need for a structured approach and quality assurance framework for successful consultancy delivery.
Importance of Back Office Operations
The episode highlights the significance of well-managed back office operations for consulting firms. It emphasizes the importance of having mature processes, systems, and data visibility to support growth and provide confidence to potential buyers. They discuss the need for organizations to formalize their back office operations as they scale and reach critical milestones, such as implementing professional service automation (PSA) software. The conversation stresses the value of effectively managing finances, resource allocation, and project delivery in order to create a strong foundation for sustainable growth and successful M&A opportunities.
Sales Management and Value Propositions
The conversation dives into the challenges and importance of effective sales management in consulting firms. They discuss the need for clear value propositions, focused target markets, and sales processes to accelerate growth and generate recurring revenue. The guests highlight the significance of developing a strong leadership team and establishing a culture of accountability in driving sales and delivery excellence. They advocate for the use of defined frameworks and focus areas in order to articulate unique value propositions, meet client needs, and achieve long-term success in the industry.
Balancing Growth and Organizational Culture
The episode addresses the common concerns and potential benefits of growth on organizational culture and values. It explores the idea that growth and culture can coexist successfully if managed properly. Despite growth, organizations can maintain a strong culture by focusing on shared values and purpose. The guests share personal experiences of building and scaling consulting firms while preserving a distinctive culture. They emphasize the importance of empowering future leaders, delegating responsibilities, and creating frameworks for success in order to sustain a positive culture in growing organizations.
At Create Engage, we like to help share all of the great advice and expertise that consulting leaders have, but that so rarely sees the light of day outside their own firm.
We are big believers in sharing anything that helps consultants climb in their careers and so when we heard this interview we had to share it with you on Climb In Consulting.
In this week’s episode, you won’t be hearing from our host Nick Synnott. Instead you will be hearing from Prof. Joe O’Mahoney, Professor of Consulting at Cardiff University and CEO of Consulting Mastered, and Rob Garner, Partner at Garwood Solutions, two former guests of the podcast.
This episode is from Joe’s brilliant Growth For Consultancies podcast series which comes of the back of his new book Growth: Building a Successful Consultancy in the Digital Age. The reason we are sharing this particular conversation, is because it talks about many topics that you ae interested in hearing about.
So, what will they be talking about?
In this conversation, Joe and Rob go deep in to the inner workings of consulting M&A and many of the elements that you need to think about when building, buying and selling a consulting firm, including:
• What decided the value of a consulting business and how buyers and sellers think about the M&A process
• Common areas that Rob and his team at Garwood Solutions look for when assessing deals for clients and how to pre-empt these if you’re considering selling your firm.
• And the hidden benefits of automation for consultancies and why investing in a PSA solution maybe just what your firm needs to help you get to the next level.
Whether you’re building out a business plan for your new consultancy, or you are already on the journey towards scale and a possible exit, you’ll find plenty of tips in today’s conversation.
Enjoy the show.
Reach out to Joe: https://www.linkedin.com/in/joeomahoney/
Find out more about Consulting Mastered: https://consultingmastered.com/
Get in touch with Rob: https://www.linkedin.com/in/garnerrobert/
Learn more about Garwood Solutions: https://garwoodsolutions.com/
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