Consider the Risks: When a Project Is too Big for Your Firm
From David A. Fields, a post that can help the discerning consultant decide whether a project is too big for their current capabilities.
Wouldn’t it be great to land a massive, game-changing new project for your consulting firm? Maybe. However, huge assignments have equally huge downsides, and there’s a better way to grow your consulting firm.
You may have bumped up against an opportunity or two to win a whale of a project—perhaps even dethroning Deloitte or some other big name consulting firm to secure an engagement that would dwarf your typical assignments.
It’s understandable that you’d covet a mega-assignment that could instantly double your revenue and lift your consulting firm to the next level of success.
However, rather than angling for whales, you’ll build a more successful, healthier consulting firm by hauling in netfuls of trout. And if you’re already landing plenty of trout, then start reeling in salmon.
A giant project could potentially swallow your consulting firm.*
Consider some downsides:
Higher Risk of Failure. You’re not currently built to deliver a project that is 5-10 times the size of your typical engagement. You probably don’t have the people nor the proven systems and templates required to deliver A+ work on a much larger scale. Similarly, you may not be built to handle the large leap in complexity that accompanies a mega-project.
Key points to consider include:
- Elevated Client Scrutiny and Expectations
- Distorted Portfolio Risk
- Post-Project Vacuum
Read the full post, Too Big? The Correct Way To Tell If A Project Is Right For Your Consulting Firm, on DavidAFields.com.