Ask HN: The Future for Strategy Consulting?

2 points by Paddywack 3 years ago | 1 comment

I recently sold a business to a global consulting firm (actually going better than expected!).

I am curious though as to what the future of strategy consulting looks like… it seems still very much based on people & day rates.

Surely this is ripe for disruption, and must require shifts to: - more real time, on demand advice - stronger data and ai support direct to customer (ie embedded advice, maybe even through metahumans) - better focus on execution and shared reward for outcomes

What is the value prop? - execs can “cover their arses” by having a branded report justifying a big move (or no move) - better data to model decisions / scenarios - extra capacity on demand - impartial advise on politically contentious issues - risk/value share based on outcomes which gives a signal on probability of success - people who have broad current insights because of exposure to different industries coupled with subject matter expertise and knowledge capture/sharing.

My question is: 1. What do you think consulting’s value add is (if any) 2. Where might it be disrupted?

smarri 3 years ago |

I agree that the time & materials ways of consulting is ripe for disruption, or just a bit bland.

I think some of consultings value is outsourcing responsibility e.g. if consultancy x is on the hook to deliver a project, then the business appointing them just has to manage the outcomes. If something goes wrong, the consultancy takes the heat and potential liability.

There's also that potential that it gives senior management the ability to make a change and point to the consultancy as the reason, rather than themselves. And other times it's for senior managers to be made to look good by using highly skilled consultants to get things done.

Outcome based pay is an option, or a even a retainer model, but there's possibly something more innovative out there, I'm just not sure what it is.