Importance of Value Delivery in Consulting

By Garima Saxena, 3rd Eye Advisory Ltd
Importance of Value Delivery in Consulting

An article was published in David Maister's 2003 book, "Practice What You Preach: What Managers Must Do to Create a High Achievement Culture". The article speaks about an extensive survey on what contributes to professional firms' profitability. The diagram below represents David's findings.

The percentages indicate the impact each component can make on the overall financial performance of your firm. The increase of only one degree in each category can increase a consulting firm's financial performance by the indicated percentage. So, if the firm is rated 3 at "high standards", and somehow it is pushed up to 4, then the overall financial performance increases by 40.4%. This also means that only one-degree improvement in the area of client relationships can double your firm's financial performance.

Value Creation v/s Value Delivery is one of the most debatable concepts in the field of Consulting. While consultants are mostly focused on creation of deliverables for the client, what holds prime importance here is the how these deliverables are implemented to add value for the client. The question that comes next that as a consultant what should we focus on? Value creation is derived from the competitive advantage and business strategy which can attract clients. On the other hand, value delivery is about continuously 'proving' the strategy every day by gathering evidence to test the strategy.

Realizing sustainable success is about value delivery not value creation.Whilst creation of strategy is important, it's also about strategy implementation. The key to long-term success of a consultant is getting the balance between the realms of creation and delivering value to the client.It is equally important to understand the delicate relationship between alignment to occurrence of events and strategic thinking which aims to shape the future of the strategy of the client.There are several ways a consultant can deliver more value using less time and resources.

Jeffrey Gitomer, an American author, professional speaker, and business trainer, who writes and lectures internationally on sales, customer loyalty, and personal developmentexplains that there are 10 ways in which value can be perceived which are described as follows:

  • Ease of doing business with you.
  • Ease of contacting you and anyone at your company.
  • Ease of use after purchase.
  • Increase in productivity for the customer.
  • Availability of service when the customer needs it.
  • Boost of customer morale after product/service is installed.
  • Reasonably priced (not cheap, not most expensive)
  • Additional profit to customer.
  • Assurance to the customer that there is a perfect fit.
  • Assurance that there is no risk in doing business with you.

Our dedicated teams of professionals at 3rd Eye Advisory® work to help organizations by deliver value through which the organizations across industries are benefitted in a great way. Our team carries out post-completion reviews and audits after 6 to 12 months to assess whether objectives are being met and if not, how to get them back on track. For some organizations, our HR team of experts helped them with employee management and productivity by navigating the organization through a wide variety of employee programs and help them choose the best programs to achieve all potential synergies. They are then implemented with the combined motive that greatest value is delivered to the clients.

#ReadyBusinessPlan #ask3rdEyeAdvisory #LearnAt3rdEyeAdvisory #3rdEyeAdvisory

Article by: Garima Saxena, 3rd Eye Advisory Ltd