Internal consulting is when a business maintains its own in-house consultancy that it uses to help it solve business challenges. Maintaining an internal consultancy is cheaper and better integrated into the business than hiring outside consultants. Especially successful internal consultancies are starting to want to expand to do business for other companies. In a post for Source Global Research, Fiona Czerniawska provides five tips to do it:
- Know what makes you special.
- Understand your market.
- Publish thought leadership.
- Invest in account management.
- Leverage your heritage.
Innie into an Outie
“Know what makes you special,” is another way of saying, “You need to be a specialist.” Generalists are finding it harder to get work. Specialists, however, are always in demand, and if your internal consultancy can promote precisely where its services excel, it will be better off for it. You then need to pair that knowledge with how it positions you compared to consulting competition in the market you are entering. Is your offering still valuable compared to what the competition is offering?
Next, about publishing thought leadership, Czerniawska says this:
Three-quarters of clients say that thought leadership is the most effective way for any consulting firm to market to them. And eighty-six percent say that they pass on material they find interesting to their colleagues, so the impact of good work is magnified. Don’t waste time on doing glossy brochures that explain who you are and what you do at length. Invest it instead in one flagship piece of original research, which you can mine over months, raising your presence in the media and giving you something to talk to prospective clients about.
Another thing to do is make a list of roughly your 20 top potential clients and analyze their businesses for the potential good you could do with your services. Then take action on those ideas. Show you mean business about generating growth opportunities for clients right now.
Lastly, Czerniawska says to take advantage of the fact that the internal consultancy belongs to an established business with history and experienced decision-makers. Use that brand power to differentiate yourselves.
For more thoughts, you can view the original post here: http://www.sourceglobalresearch.com/blog/2017/11/06/internal-consulting-five-steps-to-success