Your skill profile is as unique as you are, but unlike your fingerprints, your profile adapts with experience and you can intervene to shape these changes. Skills are the new currency of work. This is especially in the professional...
Value-based pricing is a strategic tactic where setting price is based on the benefits your service or product provides to your customers. It is the ability to charge based on the value you offer. On the other hand, cost-based...
Commoditization = Profit Erosion The greatest threat to professional services companies is commoditization. Firms that offer the same services, delivered in the same way, at the same level of quality as their competitors will see prices driven down to...
Faster project cycles More diverse teams Pressure to perform Professional services are evolving rapidly, and with it the tools and systems we use to deliver are changing as well. There has been no change in the fundamentals. It is...
I am a big fan of Roger Martin’s cascading choices. A must-know for anyone involved in driving business growth. The choices cascade from an organization’s aspirations, to Where to Play and How to Win and then asks what Capabilities...
Automation of knowledge work, platforms to connect freelance knowledge workers, cost cutting at major companies and the development of internal consulting services will all put professional services firms under pressure in 2016. Please take our short survey What skills are...
2015 was a year of change for many people. The impact of the contingent economy on professional services companies became a common theme, as was the need for these companies to become agile and make better use of the...
The new year is just around the corner now. Most of us are well into our annual strategic planning cycle and goals are getting firmed up for 2016. But what about skills? Do you have a comprehensive skill development...
Entering the holiday season, we are looking back on what we have learned over the past year at TeamFit. One of the most important is the role of trust in consulting, success, team performance and building a valued consulting...
For professional services firms long-term value comes from just two things: client relationships and firm capabilities. Both of these are built on trust. It is pretty obvious how client relationships rely on trust. They are built up over time...
Management consultants pride themselves on their ability to use experience and general smarts to have real impact on their clients. Of course they claim a few other differentiators: well tested frameworks to understand business situations and guide decision making;...
TeamFit is undergoing a skill review at the moment. We are looking at the skills we have in the company and what skills we need to deliver on our goals. We are also trying to look out six months...
Project success rests on three things: goals (and goal alignment); team chemistry (including communication) and the skills of your team. TeamFit is focused on skills, specifically how skills get applied to projects. You can’t build a great team using...
We all have the talent religion. We talk about our people as our most important asset, we say we invest in our people, and we stay up nights thinking about engagement. None of this is enough. To win in...
Some of the world’s top professional services companies are phasing out traditional performance reviews and staff rankings. For many years these were central to how these companies managed their staff, decided on promotions and bonuses. “Performance is an ongoing...
What is it that top management consultants do that has such a big impact? An impact not just on companies and their strategies but also on careers? The textbook answer is that consultants have deep analytic skills. They are...
Unit economics are critical to understanding how your business will scale. They tell you which levers to pull to improve performance. There has been a lot of good work on unit economics for subscription businesses (see for example David...
My colleague, Violetta, did a great post on the skills that MBAs bring to the table, the result of input from over 50 MBA students who attended a seminar we hosted. At TeamFit, we see the MBA community as...