Benchmark for small and mid-sized consulting firms launches

The Consultancy Growth Network has launched a new data-driven benchmark that aims at helping independent consulting businesses with enhancing their strategy, business development and internal operations. 

While there are a number of benchmarks conducted for global and larger national consulting firms, most of which are provided by analyst firms and researches houses, specifically for the small and mid-market segment (revenues between £500k to £10 million) there currently is no such offering available. While such data can provide business owners and partners with valuable insights, said Marc Jantzen, initiator and the founder of The Consultancy Growth Network.

“We are on a mission to advance the depth, quality and impact of small and mid-sized consulting firms and providing benchmark data is vital to those causes. Using insights from the benchmark, consulting firms will be able to take action and improve their business based on hard facts.”

The benchmark covers all aspects of growing a successful and sustainable consulting business, including turnover, margin and cash in bank. The final report, which will be released in October, will help consulting business owners gain insight into among others:

• How do our consultant day rates compare?
• Am I paying my team too much or too little and what return should I expect from them? 
• How come other consulting firms are achieving significantly higher gross margins?
• How much cash do consultancies of my size hold in the bank?
• Which marketing channels are deemed to be the most effective?

Fill in the survey. Consulting leaders that wish to participate in the benchmark can find the survey here.

To deliver the benchmark, Jantzen – a former consulting leader that exited his advisory business prior to launching The Consultancy Growth Network – is teaming up with fellow co-founder Peter Czapp, who has been benchmarking marketing agencies for almost ten years and seen first hand the power of this information.

“Benchmarking has the potential to completely transform a business in professional services,” said Czapp. “Using insights form the top performing consulting firms, leaders can put actions into place to replicate their success.”

The duo launched the network because they are “really passionate about supporting the collective ambition of owners and leaders of smaller, independent consultancies.”