Consulting Best Practices

Should You Discontinue a Service or Product?

A service that helped you in the earlier days of your consultancy may not be as useful now that you are more seasoned and have a more specific business growth direction in mind. In a post for the Institute of Management Consultants USA, Mark Haas explains how to approach discontinuing a service or product. He says to be weary of discontinuing services that clients are actively using now, because it will clearly cause financial and relationship risks. At the very least, provide a lot of advance notice.

Haas’s other tip is that, if the service is otherwise still profitable, you should consider selling or licensing the service to another consultant. Why shut down the service outright when you can keep making money for a minimum of effort?

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