A New Approach to the Business of Consulting

Source: Accounting Office Management & Administration Report

In this article, AOMAR interviewed Carrie Shea about the consulting business model she and her husband Michael developed and put into practice in 2008 with their consulting firm, Griffin Strategic Advisors. Following are some of Shea's insights about how her firm differentiates itself in the consulting world.

After more than a decade in the consulting industry, Shea determined that typical consulting teams (leverage models of 7-10 to 1) weren't as well-utilized as they could be. Shea now uses teams of two to three senior executives and one or two junior executives. The smaller teams make projects more cost effective.

Shea also draws on the experience of industry experts by including a career consultant and a former senior industry executive on each client engagement team.

Shea's consulting teams also include some of the best people from the client's own firm who can quickly and easily provide research and necessary information. The team can work quickly, and clients say they like being involved in the process.

According to Shea, her company's profit margins are much like those of traditional consulting firms; however her clients have less cost.

For the complete article, read "New Business Model: Alternative Firm Structure Gives Clients What They Want."

From Accounting Office Management & Administration Report, Institute of Management and Administration, Inc., Newark, NJ, [email protected], December 2010.