In any professional service, there are three key benefits clients seek:
- Expertise (new solutions to new problems). "Hire us because we are smart."
- Experience (practise in solving this type of problems)."Hire us because we've been there before."
- Efficiency (well-known problems, performance efficiency). "Hire us because we are cost effective and fast."
Clients prioritize these values according to a problem:
- Brain surgery requires frontier expertise, talent and innovation
- Cosmetic surgery client looks for experience in particular aesthetic procedures
- Teeth-whitening customer is interested in cost effectiveness, close location and sooner appointment
All types of projects could bring good business but only if staffing required by work matches the staffing an agency has.
The majority of consulting businesses start with few partners joining their forces. These partners have to balance the client and the people (employees) marketplaces to achieve planned economic goals.
In a partnership, the ultimate measure of a business's success is profit per partner
, which is driven by three main factors:
- Profit margin
- Productivity (revenue per employee, or average hourly rate × utilization)