When closing high-ticket clients, do you often have to rely on the experience of your senior consultants? Are your most experienced (and expensive) consultants always the ones getting high-value projects?
If your answer to this question is YES, we’re about to change that today.
Today, we will talk about creating new service offerings to leverage your IP for IT Professional Services Firms.
Many IT consulting companies bank on the experience of their most experienced consultants to close sales. And that’s not the way to building a sustainable business nor the best way to position yourself against your competitors.
Here are some ways to leverage your IP and create new service offerings to win clients and grow your business:
- Develop New Propositions to Leverage Your IP
The first reason to develop your IP is that it helps document and manage junior consultants. If you aim to leverage junior consultants and increase engagement profitability, you need to create services based on your IP.
Because you are using your company-developed IP, your clients get to have consistent and guaranteed results from you. Instead of always using the most experienced (and costly) consultant on the next client project, develop solutions that combine junior skills with know-how embedded in your IP.
By doing this, you can help grow the skills of your junior consultants, while also building trust with your clients through the consistent results you deliver. It also allows you to offer more affordable services to your clients while maintaining your margins.
- Stop Using CVs to Win Clients
When positioning your services, focus on the benefits of your firm’s experience and the robustness of its solution rather than the experience of any individual consultant. Stay away from trying to provide CVs to win work, instead rely on your IP.
CVs only showcase the experience of individual consultants and do not demonstrate the collective expertise of the company as a whole. Clients may be impressed with a senior consultant’s experience, but it doesn’t guarantee a successful project.
On the other hand, when you rely on your company’s IP, you are offering a proven and tested solution that has consistently delivered results. This allows you to position your company as a thought leader in the industry, while also building trust and credibility with your clients.
- Invest in Documenting and Managing Your IP
Investing in documenting and managing your IP can help you develop new service offerings, streamline your processes, and increase profitability.
By documenting your IP, you can ensure that your knowledge and expertise are captured in a tangible format. This can help you train new consultants quickly and easily, while also ensuring that your service offerings are consistent across different clients.
Managing your IP also means regularly reviewing and updating your knowledge base to reflect the latest industry trends and best practices. By doing this, you can ensure that your services remain relevant and competitive in the marketplace.
In conclusion, leveraging your IP can help you create new service offerings, increase profitability, and build trust and credibility with your clients. By focusing on your company’s IP rather than individual consultants’ experience, you can offer consistent and proven solutions that deliver results.
Investing in documenting and managing your IP can help you streamline your processes, develop new service offerings, and remain competitive in the marketplace. So, if you want to grow your IT consulting business, start focusing on your company’s IP today!