Professional Services

Do you remember when accountancy, law or engineering were amongst the most specialised professions? Back then, you’d hang out the shingle and confidently expect clients to flock to your door. Reputation was king.

These days, very few professional service firms have the luxury of relying on specialisation, let alone reputation. Indeed, with the worldwide ‘knowledge economy’ growing exponentially, they face much tougher competition simply by dint of numbers. We can honestly say that for the majority of firms, within a 10km radius there will be at least another 10 who claim to have the same technical expertise and/or qualifications as you.

Clearly then, competitive advantage lies with people rather than technical knowledge – the critical issue being whether experience and expertise translates, in the moment of the interaction, to (the promise of) solutions clients value more than your competitors’.

Essentially, your clients are buying a promise. A promise based on the hope that your advisors will translate technical expertise into a solution which solves his or her version of the current problem – and in a way they deem relevant.

In this ever expanding and competitive environment the question is… do your people have the desired and requisite levels of communication, along with an adroitness in building relationships (in effect, are they rainmakers)? And if not, should you upskill them – or go back to the drawing board and hire a raft of rainmakers…?

It’s a challenge KnowledgeCore well understands, because our own reputation has been built on (and now relies on absolutely) the quality and attributes of our own people

Case study: Mid-tier accounting firm