Episode 14: Richard Harris, VP Corum M&A

Send us a textRichard Brackstone, the managing partner of Moorhouse Consulting, and I talk about growing consultancies. We talk about his time at Andersen Consulting and spearheading projects in the Blair-Brown government era to leading major projects at Lloyds.We'll explore the interesting evolution of Moorhouse Consulting, tracing its rise from Dom Moorhouse's vision to the fast-paced expansion that followed their management buyout. We explore how leadership changes, a commitment to diversity, and service line transformations fueled the firm's expansion to a powerhouse of nearly 300 dedicated professionals. Richard also offers an insider's perspective on the nuances of ownership transitions in the consultancy sector, illuminating the management buyout process when BT sold Morehouse. He discusses the strategic decisions that shaped the firm's future, from choosing between private equity and independent ownership to the cultural shifts that ensued. We delve into the importance of a robust operational structure, highlighting the role of a strong leadership team and strategic systems to support sustained growth. Prof. Joe O'Mahoney helps boutique consultancies scale and exit. Joe's research, writing, speaking and insights can be found at www.joeomahoney.com

Send us a textChris Tomlinson, the founder and CEO of Muuto, is reshaping his firm by embracing AI. Learn how Chris and his team are leveraging the power of generative technologies to shift their consulting practices.Chris shares his insights on how boutiques can outpace larger organizations by harnessing the agility to innovate without the usual constraints. We explore the potential of AI agents in modeling and refining work processes, transforming traditional consulting models to be more adaptive and efficient. Chris and I discuss the critical role of leadership in this transformation and share strategies for fostering a culture of experimentation. Whether you're in the camp of early adopters or cautious observers, this episode offers valuable perspectives on the organizational change needed to harness the exciting opportunities presented by AI and digital transformation.Prof. Joe O'Mahoney helps boutique consultancies scale and exit. Joe's research, writing, speaking and insights can be found at www.joeomahoney.com

Send us a textAny business school student will tell you about the S-curves that most companies encounter when they scale: when what got you to point A will actively prevent you from getting to point B. Anticipating these leads to smoother growth, happier employees, less stressed CEOs/owners, and keener investors / buyers.Here, we learn from the growth journeys of Richard Goold (ex-CEO of Moorhouse) and Mark Palmer (ex-CEO of GoBeyond and OEE Consulting) - both of whom grew and exited their firms around the £40m mark.The episode explores the critical inflection points that consultancies must navigate during their growth journeys: the importance of external perspectives, and strategies to sustain entrepreneurial spirit while scaling their firms. • Defining inflection points and their significance in growth • Emotional challenges faced by consultancy leaders • Importance of engaging external advisors for fresh perspectives • Balancing growth without losing entrepreneurial spirit • Understanding client needs to define value propositions • Diversifying client bases to mitigate risks • Necessity of rigorous systems and processes for effective scaling • Strategies for overcoming challenges at various growth milestones • Importance of strong governance and succession planning • Role of brand positioning in achieving competitive advantagesProf. Joe O'Mahoney helps boutique consultancies scale and exit. Joe's research, writing, speaking and insights can be found at www.joeomahoney.com

Send us a textWhy do senior hires fail so often in consulting? What can we do to minimise this?Join me as I sit down with Gary Lanz from Wilton Bain to explore the intricate art of talent acquisition and development within the consulting industry. We discuss finding the strong senior hires who can generate business, fit culturally, and harmonize with existing teams. We also tackle the ongoing debate between being a trusted advisor and the necessity of becoming a visible expert in today's content-driven world.Navigating the complexities of partner recruitment, Gary and I explore lateral hiring in consulting and shed light on strategic growth strategies for small to medium-sized consultancies, like diversification into new markets, and the evolving landscape of consulting leadership.We debate how smaller, agile firms can capitalize on these shifts, balancing business development with talent retention and strategic succession planning. We also explore innovative approaches to professional development, questioning the traditional value of universities and championing concepts like the "junior board" to empower the next generation. Listen in to hear how firms can foster a thriving culture and secure client longevity in competitive markets.Prof. Joe O'Mahoney helps boutique consultancies scale and exit. Joe's research, writing, speaking and insights can be found at www.joeomahoney.com

Send us a textIn this episode of the Consulting Growth Podcast, we sit down with pricing strategy maestro Ethan Williams, who transitioned from real estate investment banking to becoming an authoritative voice in global pricing strategy. Here is Ethan's AI Pricing Advisor: https://chatgpt.com/g/g-MNWgcA4wX-value-based-pricing-advisorHere's Ethan's LinkedIn: https://www.linkedin.com/in/ethan-williams-8567278/We dive deep into Ethan's experiences at GE Digital, PwC, and McKinsey, and his transformative work at FGS Global. Ethan unveils the secrets behind moving from traditional time-and-materials pricing to value-based models, shedding light on how these shifts not only elevate client value but fundamentally alter business models. Learn about the art of leading pricing transformations and the most common objections consultants face when adopting value-based pricing.Ethan also discusses the impact of AI and automation on consulting practices, making the case for abandoning time-based pricing in favor of more efficient models. Get practical advice on implementing value-based pricing, including strategies for maintaining confidence during negotiations and presenting clients with engaging scope options. We wrap up with heartening insights into how AI and low-code solutions are democratizing advanced tools, leveling the playing field for smaller consultancies. This episode is a must-listen for anyone eager to stay ahead in a rapidly evolving consulting landscape.Prof. Joe O'Mahoney helps boutique consultancies scale and exit. Joe's research, writing, speaking and insights can be found at www.joeomahoney.com

Send us a textWhat does great thought leadership look like for boutique consultancies? Join us on the Consulting Growth Podcast as we engage with Athena Peppes, a luminary in thought leadership and artificial intelligence. Drawing from her stellar career at Accenture and her current role as an independent consultant, Athena unveils what makes thought leadership effective. In this episode, Athena demystifies how boutique firms can leverage AI to distill valuable insights from existing client relationships. Discover strategies to produce impactful annual statement pieces that can strengthen your firm's market position. Athena also explores the transformative power of generative AI in professional services, emphasizing the importance of high-end thought leadership amidst an oversaturated content landscape. She delves into emerging technologies like gen AI and synthetic data, which are making advanced analytics more accessible than ever.Our conversation doesn’t stop there. We navigate the complex landscape of AI and robotics, reflecting on the multifaceted expectations surrounding AI’s capabilities. Inspired by insights from economist Anton Koronek, we discuss how businesses can better anticipate and adapt to disruptive AI applications. Learn why addressing specific business pain points is crucial for successful AI integration, and hear Athena’s thoughtful analysis on the future challenges and opportunities that AI presents. This episode is packed with invaluable insights for anyone looking to stay ahead in the rapidly evolving world of technology and consultancy.Athena's website: https://www.athenapeppes.com/ The Thought Leadership-as a Service consultancy: https://www.beaconthoughtleadership.com/ Prof. Joe O'Mahoney helps boutique consultancies scale and exit. Joe's research, writing, speaking and insights can be found at www.joeomahoney.com

Send us a textProductization offers considerable opportunities to consultancies as the cost of development has collapsed. Eisha Armstong is the world's leading expert on how this is achieved in consultancies, co-founder of Vecteris and celebrated author. Chris Dando is a member of the Boutique Leaders Club and founder / CEO of Reinvigoration - an operations consultancy which has recent successfully productized some of its offerings. Eisha,  brings her expertise in helping service companies reinvent their business models to thrive in today's market. Meanwhile, Chris shares insider knowledge on developing a software spin-off aimed at facilitating operations transformation and building recurring revenue streams.Transitioning from consultancy to software business can be riddled with pitfalls. Learn how to avoid common mistakes by ensuring you have the right people in strategic roles and conducting thorough market validation. Discover why a market-minded product leader can make all the difference in commercialization success. We also discuss how focusing on urgent and expensive problems can guide product development, along with the importance of co-designing with your target market segment for best results.We explore actionable methods like the Van Westendorp price sensitivity meter and the 10x value rule, essential for aligning pricing with perceived value. Explore the future of productization, including how AI and automation are revolutionizing service delivery by enhancing standardization and efficiency. Join us as we provide a comprehensive framework for optimizing your consultancy’s offerings and staying competitive in a rapidly changing landscape. Don't miss out on these invaluable insights from Eisha and Chris!You can download Productize free here: https://www.vecteris.com/complimentaryproductizebookProf. Joe O'Mahoney helps boutique consultancies scale and exit. Joe's research, writing, speaking and insights can be found at www.joeomahoney.com

Send us a textMeet Michael Kempner, the mastermind behind MIKEWORLDWIDE. His is a story a narrative woven with tenacity and transformation moving from a solo operation to spearheading a leading independent PR firm, where embracing past hurdles has been integral to the company's monumental growth.This episode peels back the layers on how valuing human capital has been pivotal to MWW's success, revealing that nurturing talent is just as crucial as attracting it.  We discuss the importance of brand perception to consulting firms as well as learning from the journey of Michael in growing his own firm to over 300 people. We explore some innovative strategies his firm employs, juggling AI and predictive analytics with human decision-making. Join us for this exploration of reputation, trust, and leadership—and how these pillars can chart a course to success in the competitive realm of PR.Prof. Joe O'Mahoney helps boutique consultancies scale and exit. Joe's research, writing, speaking and insights can be found at www.joeomahoney.com

Send us a textUnlock the secrets to a triumphant M&A journey in the knowledge economy with Jerome Glynn-Smith, the Equiteq's Head of Europe. As a former JP Morgan and Deloitte luminary, Jerome provides wisdom on the pivotal role of specialization within the technology and professional services sectors. Our chat navigates through the critical $10 million revenue threshold, the allure of private equity in the consultancy sphere, and the delicate art of balancing risk and scalability for consulting firms on the brink of a sale.We dissect the valuation conundrums and profit trajectories that influence the consultancy industry's M&A trends and shine a spotlight on the non-negotiables of EBITDA evaluation. Jerome also weighs in on the potential pitfalls of diversification, urging firms to sustain a laser focus on their core services to cultivate a tantalizing appeal for prospective buyers.In our final exchange, Jerome lays out a roadmap for boutique consultancies anticipating a sale. Aligning stakeholders' visions, bolstering market presence, and maintaining a pristine and comprehensive data room emerge as the cornerstones of a well-prepared exit strategy. By championing specialization and crafting a compelling equity narrative, Jerome assures us that small to medium-sized firms can navigate M&A transactions with the precision and confidence of seasoned pros.Prof. Joe O'Mahoney helps boutique consultancies scale and exit. Joe's research, writing, speaking and insights can be found at www.joeomahoney.com

Send us a textPhil Rolfe founded, grew and sold FS101 to P2 Consulting, then P2 Consulting to Valcon, where he is now the country COO for the UK. This episode promises a treasure trove of wisdom, from Phil's transformative journey from Eagle Star, KPMG and RBS to the innovative frontiers of Vulcan's data problem-solving focus. As your host, Professor Joe O'Mahoney, I'm thrilled to share how Phil's bold leap to the Netherlands and the launch of FS101 led to an exhilarating adventure in financial crime advisory.You'll gain rare insight into the delicate dance between new leaders and their predecessors, and how Phil's commitment to transparent communication shaped a resilient path through the challenges of private equity involvement. His reflections on personal growth and cultivating a supportive leadership atmosphere within a large organization provide a candid glimpse into the essence of effective management.As we explore the intricate tapestry of business growth and scaling, Phil unveils the strategic musings behind hiring decisions in a growing firm. We then discuss the future of consulting in a digitally transformed world, where AI and data analytics are not just buzzwords but pivotal tools reshaping the industry. For anyone eager to understand the forces driving business success and innovation, Phil's incredible journey is a beacon of inspiration and strategic acumen.Prof. Joe O'Mahoney helps boutique consultancies scale and exit. Joe's research, writing, speaking and insights can be found at www.joeomahoney.com