Scaling a Boutique Consultancy | Anish Patel & Prof. Joe O'Mahoney
Send us a textAnish Patel takes us on a fascinating journey from his beginnings as a "physics geek" to building and selling a successful consultancy in this candid conversation about growth, leadership, and knowing when to exit.With refreshing honesty, Anish reveals how his scientific background created the perfect foundation for consulting work. "The scientific method was something that really I was interested in," he explains, describing how identifying issues, gathering data, developing hypotheses, and convincing others translates perfectly from physics to business consulting.The conversation delves into the struggles of transitioning from a well-known consultancy to founding Patel Miller. Anish shares a powerful realization that many founders experience: "I thought I was one of the best salesmen of consultancy in the retail industry out there... What I realized when I started my own firm was that I was brilliant at converting opportunities, but I wasn't very good at originating them." This distinction between originating and converting work becomes a crucial insight for anyone building a consultancy.Perhaps most valuable is Anish's framework for success - the "three A's" that differentiated his boutique firm from larger competitors: Availability (being responsive when clients need you), Amiability (maintaining genuine relationships beyond projects), and Ability (delivering excellence beyond methodological competence). This approach helped his firm punch well above its weight in a competitive market.The discussion also covers the eventual sale to Metis, with Anish offering candid reflections on the post-acquisition phase. His advice to avoid becoming overly focused on earn-out terms at the expense of activities that actually drive business success provides valuable perspective for consultancy owners considering an exit.Whether you're contemplating starting your own consultancy, struggling with growth challenges, or considering an exit strategy, Anish's journey offers practical insights and honest reflections on what truly matters in building a successful consulting business.Prof. Joe O'Mahoney helps boutique consultancies scale and exit. Joe's research, writing, speaking and insights can be found at www.joeomahoney.com
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From Political Philosophy to Peer Groups | Episode 9 - Tom McMakin & Prof. Joe O'Mahoney
Send us a textTom McMakin's path to consulting success began far from boardrooms – with a political philosophy degree followed by Peace Corps service in Africa. This unconventional start equipped him with unexpected skills that would later prove invaluable when leading a bread company to nationwide success and eventually purchasing Profitable Ideas Exchange (PI).Under Tom's leadership, PI has transformed from a small firm with six employees to a thriving business with 100 staff and approximately $15 million in revenue. Their unique value proposition? Creating meaningful connections between large consultancies and the executives they hope to serve through facilitated peer group conversations."We're sort of Match.com for businesses," Tom explains, highlighting how PI brings together CXOs facing similar challenges. This approach addresses a fundamental truth about professional services – they're sold through relationships and trust, not features or attributes. By positioning consultants as hosts of valuable peer discussions, PI helps them stay proximate to potential clients throughout lengthy sales cycles.The challenges Tom faced growing PI mirror those encountered by many professional service firm leaders. He needed to focus the business on what was already working rather than chasing new innovations, transform company culture by recruiting the right people, and build systematic approaches to business development beyond the founder's personal network.Perhaps most compelling is Tom's perspective on consulting's purpose. In an age where many professionals seek meaning beyond financial rewards, he frames the work as "connecting human intelligence with profound problems" – a high calling that involves cross-pollinating best practices across geography to solve significant challenges.Ready to transform how you connect with potential clients? Discover how relationship-based approaches can accelerate your consulting firm's growth by exploring Tom's books "How Clients Buy" and "Never Say Sell."Prof. Joe O'Mahoney helps boutique consultancies scale and exit. Joe's research, writing, speaking and insights can be found at www.joeomahoney.com
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The Real Cost of Entrepreneurship | Episode 8 - Bill Poston & Prof. Joe O'Mahoney
Send us a textBill Poston's remarkable journey from truck stop motel clerk to successful consulting entrepreneur offers a masterclass in professional services growth. With disarming candor, he shares how his farm upbringing and hospitality background instilled the relentless work ethic that became his competitive edge at Deloitte and beyond.After a decade at Deloitte that served as his "apprenticeship" in consulting fundamentals, Poston took the entrepreneurial leap to found Calypso, a firm focused exclusively on helping clients deliver on the promise of innovation. What began as a "bet on ourselves" quickly grew beyond expectations, with first-year revenues approaching $4 million. Yet success brought unexpected challenges – from the administrative burdens of running a business to the delicate balance of maintaining focus while pursuing growth opportunities.Perhaps most fascinating is Poston's candid assessment of their missteps: expanding internationally too quickly, venturing into training that became "a huge distraction and commercial failure," and attempting government work that "proved futile." These hard-won lessons underscore a crucial truth about entrepreneurship – recognizing mistakes early and pivoting before they become fatal is as important as getting things right initially.Today, Poston channels these experiences into LaunchBox, helping new founders launch professional services firms by providing both business infrastructure and capital. His screening process focuses on two critical questions: Do you want to build a business to scale rather than a lifestyle practice? And are you commercially viable – able to sell work, not just deliver it? This practical wisdom exemplifies why Poston has succeeded where many professional services entrepreneurs falter.Whether you're considering entrepreneurship, growing a consulting practice, or simply fascinated by the inner workings of professional services, this conversation delivers invaluable insights from someone who's navigated the journey from startup to successful exit. Ready to transform your consulting firm's equity value? Visit equitysherpa.com to discover how we help consultancies quadruple their worth over a two to four year period.Prof. Joe O'Mahoney helps boutique consultancies scale and exit. Joe's research, writing, speaking and insights can be found at www.joeomahoney.com
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Scaling Small Consultancies: The Talent Challenge | Episode 6 - Caroline Boston & Prof. Joe O'Mahoney
Send us a textCaroline Boston, reveals the talent acquisition secrets that help small consultancies grow exponentially in today's competitive market. With over 20 years in the consulting recruitment space, Boston offers rare insights into how boutique firms.The talent journey of a growing consultancy follows predictable patterns. Most firms begin with an associate model before taking the leap to permanent hires. Boston identifies the critical "engagement manager" role as the typical first key hire – someone who can anchor client relationships while delivering exceptional work. This transition represents not just a financial investment but a psychological shift for founders accustomed to controlling every aspect of their business.What drives top consultants to leave prestigious firms for smaller operations? Boston's perspective is fascinating – it's rarely about compensation. Instead, the appeal lies in escaping bureaucracy, gaining direct client exposure, and having meaningful impact on the business itself. "If you're looking for a smaller team with a less hierarchical way of working, you're more likely to find that in a startup than within Deloitte," she explains. This value proposition resonates deeply with seasoned consultants who feel constrained in larger organizations.The most counterintuitive insight? Boston identifies empathy as the fundamental consulting skill – more crucial than any technical capability. While methodologies and analytical frameworks can be taught, truly understanding client perspectives, pressures, and needs is what separates exceptional consultants from merely competent ones. This reframes consulting sales not as a necessary evil but as a natural extension of problem-solving abilities.As technology transforms consulting business models and skillsets, Boston's firm helps businesses navigate these changes. The demand for data analytics, AI, and coding expertise is reshaping recruitment strategies, forcing firms to look beyond traditional talent pools. Meanwhile, retaining talent requires deliberate focus on growth opportunities and authentically living company values.Want to understand how today's most successful consulting firms are building teams that drive exponential growth? Caroline Boston's insights offer the blueprint.Prof. Joe O'Mahoney helps boutique consultancies scale and exit. Joe's research, writing, speaking and insights can be found at www.joeomahoney.com
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The Global Consulting Blueprint: Building a Boutique Empire | Episode 7 - Jeffrey Cronkshaw & Prof. Joe O'Mahoney
Send us a textWhat does it really take to build a successful global consulting firm from scratch without external investment? In this revealing conversation, Jeffrey Cronkshaw, founder and group managing director of Lancia Consult, shares the untold story behind growing his consultancy from a two-person operation to a thriving international business with offices in Singapore, the UK, and beyond.The journey began not with a meticulously crafted business plan, but with a practical solution to work-life balance challenges when Jeffrey's wife Isabella returned from maternity leave at Accenture. What started as a simple contracting vehicle quickly evolved into something much more ambitious when they spotted a significant gap in the Southeast Asian market – a vacuum between the Big Four firms and very small local consultancies that was begging to be filled.Jeffrey candidly discusses the realities of leaving partner-track positions at Accenture, the early cash flow challenges, and how they've built a distinctive culture with a remarkably young leadership team. His approach to growth has been refreshingly opportunistic rather than following conventional wisdom – deliberately avoiding London when entering the UK market, prioritizing process development before problems arise, and maintaining a long-term vision rather than focusing on a quick exit.Most compelling is Lancia's strategy for competing with industry giants. Rather than trying to beat them at their own game, they've created distinct advantages: giving consultants broader experiences and faster progression opportunities, maintaining deep connections between offices that would typically operate as separate entities in larger firms, and carefully diversifying their service offerings beyond pure consulting.Whether you're considering starting your own consultancy, looking to join a growing firm, or simply fascinated by entrepreneurial journeys, this episode offers valuable insights into building a sustainable professional services business in today's competitive landscape. How might Lancia's approach change your thinking about what's possible in the consulting world?Prof. Joe O'Mahoney helps boutique consultancies scale and exit. Joe's research, writing, speaking and insights can be found at www.joeomahoney.com
Joe O'Mahoney is Professor of Consulting at Cardiff University and a growth & exit advisor to boutique consultancies. Joe researches, teaches, publishes and consults about the consulting industry.In the CONSULTING GROWTH PODCAST he interviews founders that have successfully grown or sold their firms, acquirers who have bought firms, and a host of growth experts to help you avoid the mistakes, and learn the insights of others who have been there and done that.Find out more at www.joeomahoney.com
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