307: Building Client Relationships

The importance of gaining a client's trust via a solid reputation in the market places a premium on leaders who are skillful in building client relationships. No one would expect a consulting firm with poor reputation to thrive. After all, any firm's future is only as bright as its reputation in the market.

It takes a strategic eye to focus on building client relationships for the long-term, even if it means sacrificing some revenue, and individual compensation, in the short-term. In this podcast we talk about how we approach building client relationships. More specifically, we discuss how we handle negotiating fees with clients. We dive into:

  • Should you consider competing on price?
  • What competing on price does to your firm?
  • If you compete on price what signal are you sending to the client?

Competing on price may bring in some extra revenue in the short-term, but will be damaging to the health of your business in the medium and long-term. Hence, competing on price actually destroys value and should be avoided.

However, if you are a small boutique consulting firm and you choose not to compete on price, how should you compete? In this podcast we also share with you an alternative to competing on price that works for us.

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836: How do you gain more experience? (Case Interview & Management Consulting classics)

836: How do you gain more experience? (Case Interview & Management Consulting classics)

For this episode, let's revisit a Case Interview & Management Consulting classic where we discuss how to gain more experience. Many candidates are declined with the suggestion to gain more work experi...

7 Jan 11min

835: Anecdotes on Poor Networking Calls (Case Interview & Management Consulting classics)

835: Anecdotes on Poor Networking Calls (Case Interview & Management Consulting classics)

In this podcast we have listed some of the most common and most significant networking mistakes made by candidates. Since many of these have been made by clients, we have had an opportunity to discuss...

5 Jan 17min

834: Harsh Partners (Case Interview & Management Consulting classics)

834: Harsh Partners (Case Interview & Management Consulting classics)

Being a young business analyst or associate on the receiving end of blunt and harsh feedback from a partner is a very jarring experience. However, it is also somewhat of a compliment. I never understa...

29 Dec 202524min

833: Using Storytelling in Cases (Case Interview & Management Consulting classics)

833: Using Storytelling in Cases (Case Interview & Management Consulting classics)

Storytelling is a very powerful technique to ensure someone remembers you after an interview. In fact, even when we screen people at Firmsconsulting today, we use this technique I applied as a partner...

22 Dec 202523min

832: Five phrases to avoid (Case Interview & Management Consulting classics)

832: Five phrases to avoid (Case Interview & Management Consulting classics)

Communication and image in a case interview is governed by both what you say and how you say. It is true that how you say something tends to carry more weight. However, in some case, certain phrases s...

17 Dec 202515min

831: How to Hold Networking Conversations (Case Interview & Management Consulting classics)

831: How to Hold Networking Conversations (Case Interview & Management Consulting classics)

Networking calls/coffee chats are tricky. You should not be following the advice found for general recruitment. We insist our clients network with partners so most of the advice we provide is for netw...

15 Dec 20259min

830: Speed is the wrong focus area (Case Interview & Management Consulting classics)

830: Speed is the wrong focus area (Case Interview & Management Consulting classics)

For this episode, let's revisit a Case Interview & Management Consulting classic where we discuss speed. Far too many candidates focus on being faster. That is another myth.   Speed is an outcome of h...

3 Dec 20258min

829: Case length and details (Case Interview & Management Consulting classics)

829: Case length and details (Case Interview & Management Consulting classics)

For this episode, let's revisit a Case Interview & Management Consulting classic where we dtalk about case length and details.    When we ask candidates for more details in their resume, fit responses...

1 Dec 20256min

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