Jan 15, 2009

Consulting in the downturn

Consulting is one of those professions that seemingly can benefit from both the boom times as well as the slowdown.

Of course that does not mean that ALL kinds of consultants can realign their service offerings to the changed economic scenario - but if well thought out, it is of course true that management and leaders would try to get advice on what to spend on and where to focus one's energies when the resources and the opportunities are limited.

Kennedy's Consultants News says, referring primarily to the US markets:

But there are some consulting opportunities despite the weak US economy. These include environmental sustainability/compliance initiatives that contribute to clients’ bottom lines and reputations, flexible Enterprise 2.0 and SaaS/Cloud solutions that reduce IT investments, as well as cost-cutting ITO and BPO arrangements. Not surprisingly, clients also are showing interest in the areas of restructuring, turnaround, and financial risk consulting, and client verticals creating a steady flow of projects include healthcare, education, and energy/utilities. And prospects appear strong for public sector work, especially once the Obama-driven efficiency agenda and economic stimulus programs begin to kick in at federal, state, and local levels.

So there you are, if you're a consultant, try and highlight areas where you can increase efficiencies and profitability, and reduce costs.

That would be a great ROI for your clients, and selling point for your services.