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Great summary. Consulting not a great business to build to sell. Curious how these businesses possibly survive a slower market? Only thing I can imagine is th
by sails 5y ago
Great summary. Consulting not a great business to build to sell.
Curious how these businesses possibly survive a slower market?
Only thing I can imagine is the job market slows proportionally and your people/staff won't have better options.
- tiffanyh 5y agoFor tech consulting, there was a lot of layoff unless a services contract committed contractual spend. Keep in mind, staff augmentation / time & materials is a very common contractual model - which has no committed spend. Also, another point I didn't mention above is Marketing Agencies and Lawyers. These business are fundamentally "consulting". The massive difference is that (a) these industries found ways that allowed them to capture more revenue than just billing time, e.g. lawyers can get a % of a cash settlement case, or marketing agencies can get a % of ad spend from a company, and (b) they found ways to help with the cash flow float by creating "retainer" vehicles.