How many clients will you gain or lose this year? A rough gauge of those figures might come from identifying whom among your client or referral bases is passively or actively loyal to you or your firm. Author Rohit Bhargava has written about this concept and understanding it presents two massive opportunities for your practice. The author of this article shares the insight gained from Rohit Bhargava. How ma ...

How to Implement Value Pricing in Your Firm In this second article of the three-part series, Ronald J. Baker challenges professionals to move from value billing to value pricing. Value pricing inverts the hourly billing model by recognizing the economic facts that it is the customer who is the ultimate arbiter of value. If value is created, the customer understands that cost is secondary. ...

In an enlightening article by McKinsey & Company, a compelling case is put forward for something you always felt was true, but couldn’t quite prove.  When it comes to marketing professional services or products, good old-fashioned email is much more effective than social media.  How much more effective is it?  The report states that email is so significant in generating new business that it’s 40 times m ...

While the idea of beating the market is more suited to the financial investment sector, McKinsey & Company recently applied some of the same principles to business strategy.  In a review of 3,000 large nonfinancial companies, this overview examines the players that avoid profit depletion and maximize value creation, even during economic downturns.  Tried and true business practices are tested as the num ...

Gaining a competitive advantage for the mid- and small-market businesses In response to McKinsey & Company’s published article, “M&A as Competitive Advantage,” Bart Basi and Marcus Renwick explore the usage of M&A as part of a larger strategy, rather than a stand-alone deal. Special focus is given to the benefits relating to mid-market and small, closely held businesses, where the bulk of M& ...

  According to the US Bureau of Economic Analysis, “research and development” (R&D) are now considered a fixed investment. The report, released last month, contains GDP figures categorizing R&D with this distinction. R&D now joins software in a new category labeled “intellectual property products”. While some see the change as only affecting a small number of economists, others see the move as b ...

It's No Surprise Mobile User Behavior Is Evolving As digital media technology evolves at an ever-increasing pace, so does the user habits of consumers.  In their new report:  "iConsumer:  Digital Consumers Altering the Value Chain," McKinsey & Company describe six over-arching trends in digital usage behavior that they believe will significantly impact the industry value chain.  These include shifts in ...