Thought Leadership
In this article, we take a look at the current Consulting landscape and unpack the strengths of Small C Consulting companies as a vibrant alternative.
In the consulting world, the names of the Big 4 firms often loom large. These corporate giants are known for their global presence, extensive resources, and high-profile projects. However, another realm within the consulting landscape is gaining recognition for its innovation, personalised service, and client-centric approach. We're talking about the Small C space – owned by smaller consulting companies making a big impact.
Here at Sprouta, as the leading people, culture and performance marketplace, we work with smaller consulting and technology firms and know first-hand the power of working with Small C consulting businesses.
The Landscape: Big C vs. Small C
The consulting industry has traditionally been dominated by these bigger players. Massive firms that can undertake complex projects for large enterprises and governments and have established a reputation for their expertise. However, the landscape is changing. Smaller consulting companies which we’ve affectionately coined the Small C, are gaining traction for their unique approach and tangible results.
Some of the most recent statistics show that the consulting industry has been experiencing growth, with a global market size of over $132 billion in 2020 and an expected compound annual growth rate (CAGR) of around 4.2% from 2021 to 2028. These are big numbers but interestingly, whilst the Big 4 only make up 12% of the Australian market, they still command a significant portion of the revenue. Over our two and half decades in the industry we’re now seeing clients are increasingly valuing personalised solutions, innovation, and agility, which are often found in the Small C space.
The Strengths of Small C Consulting
One of the standout strengths of smaller consulting companies is their ability to foster innovation and adaptability. Many of these businesses are founded by individuals who are passionate about their fields, know their clients well and "Give a sh*t” about their clients' success. This dedication often translates into client obsession and a willingness to go the extra mile to solve for systemic problems.
For Sprouta, as a marketplace player in the Small C space, we've built our reputation by working closely with a combination of SME partners as a vibrant alternative to the Big 4. Their transparent approach emphasises expertise, deliverables, and accountability. They offer non-linear and bespoke solutions that address specific business challenges by leveraging new deep expertise, scalable technologies, and collaboration to compete against the Big C.
Our Tips for Navigating the Consulting Space: Unlock Maximum Value
- Build High-Trust Partnerships: Establish relationships based on trust and honesty. Effective communication is crucial, especially when framing the project scope and objectives.
- Emphasise Execution and Sustainability: Understand how you'll execute the proposed recommendations after the consultants leave. Ask about sustainability strategies that ensure long-term success.
- Clarify Deliverables and Timelines: Define clear deliverables and timelines to avoid misunderstandings. This ensures alignment between expectations and outcomes.
- Address Conflicts of Interest: Discuss any potential conflicts of interest that could impact the project's integrity or objectivity.
- Understand the Team: Seek clarity on the team members who will be working on your project. Be cautious of any switches from senior partners to junior staff.
- Prepare for Conflict Resolution: Establish a process to address conflicts or challenges that may arise during the project.
- Protect Confidentiality: Sign a Non-Disclosure Agreement (NDA) to ensure the confidentiality of sensitive information.
- Prioritise Communication: Maintain open and regular communication throughout the project to promptly address any concerns or changes.
Be on the lookout for:
- Expertise Stretching: Be cautious of consultants attempting to take on projects beyond their areas of expertise solely to secure business.
- Problem Jumping: Consultants who hastily jump to solutions without fully understanding the problem and operational context may provide ineffective results.
- Lazy Solutioning: Beware of superficial listening and generic or one-size-fits-all solutions that fail to address your organisation's unique challenges.
- Static Strategy: Ensure that the proposed strategies are adaptable and considerate of the changes in your organisation, enabling seamless execution.
The consulting landscape is evolving, and the Small C space is shining brightly as a vibrant alternative to the traditional dominance of the big players. By partnering with smaller consulting firms, businesses can access innovation, personalised solutions, and a higher degree of client-centricity. As the consulting industry continues to evolve, being the biggest client in a small business world might just be the key to unlocking exceptional results.
The Future at Work starts with a conversation. Whether you’ve got an idea you want to bounce around or you’re grappling with a specific problem, we’re here to help. Sometimes all you need is a unique external perspective to help get you on your way.
Email me at leonie@sprouta.com and let’s start today.