Your consulting firm exists to help others. You solve your clients’ problems and alleviate the symptoms plaguing them; you help them achieve their aspirations and exceed their objectives.
Serving others isn’t enough, though. You probably also have a strong yearning to grow. Consultants, as a rule, are personally and professionally growth oriented.
Hence, even if you don’t set your consulting firm’s sights on attaining more of the “big three” (revenue, profit, chocolate), set other growth goals to make 2023 a fulfilling year for you and your consulting firm.
Improvement is important too, of course.
You can improve your customer experience (as scores of readers noted in this article), utilization, offerings, client satisfaction, and culture, to name just a few areas.
But those aren’t growth.
Growth means more or bigger in some way.
And your consulting firm’s likelihood of achieving your growth goals increases dramatically if you clearly identify the goals and prioritize them.
Action Step: Set between two and five growth goals for your consulting firm for the coming year.
To help you, my team and I quickly identified over 20 potential growth goals for consulting firms. Some are complementary to each other; others, not so much. None are high in calories!
Below are just ten of the growth goals we identified.
10 Growth Options for Consulting Firms
Number of projects x Average fee
Total revenue − Total expenses
Number of Clients
Total number of “logos” or buying points
Size of your “tribe” or total awareness of your consulting firm
Average Project Size
Total revenue ÷ Number of consulting projects
Average Client Value
Total revenue ÷ Total number of clients
Total size of delivery team (employees and identified contractors)
Breadth of your consulting firm’s skill sets.
Impact on the World
Total number of people directly affected by your work
Number of vacation days
(for owners and/or all staff)
Which growth dimensions are you prioritizing for your consulting firm this year?
Please share in the comments—your goals will inspire others. (And feel free to add other dimensions—I did leave out quite a few.)
Text and images are © 2023 David A. Fields, all rights reserved.