Friday, June 09, 2006

Ramblings of a Bemused Consultant

If people believe that they get what they paid for - and they do, just look at the type of people who buy into the brand of Mercedes Benz - then a well known consultancy brand can leverage this fact to sell its consultants' time for a premium - and they do, just look at how much you pay for an hour with an Accenture consultant. Expanding on this, where should that additional revenue end up? Well, to grow the brand you really do need better consultants, and if your consultants are struggling to pay off mortgages and other financial debt then they certainly won't be able to give 100% of their attention to their work. There's logic in saying that the additional revenue should go back to the consultant: clients would see the exorbitant fees and similar lifestyle of the consultants and would be inclined to buy into the power of that consultancy's brand. In short, if you're running a consultancy, don't fall into the trap of paying your consultants less because you managed to "negotiate" a good deal with them - you will be destroying the power of your brand.

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