Management consulting sector is continuously evolving, and business models are emerging to respond to industry demand. Some major industry players such as McKinsey have developed innovative consulting business models that are disruptive in nature. Some have focused on change management and organizational processes, took a balanced approach to develop a new consulting business model based on value proposition, profit formula, processes, and resources. Paradigm Business Plans is adopting a simplified version of this balanced business model to serve its clients as this model is easy to understand and follow, both for the clients and the company.
Value proposition includes time to value, assess risk distribution or assessment of degree of specializations. Time appears a major factor in serving SMEs as they usually reach out to consultants after spending time to perform their own research. Instant consulting approach is a winning strategy to respond to the client’s needs in a very short time span. Paradigm Business Plans applies FastWorks to stay lean in responding to the clients.
Constraints always exist in a company that incur some known or unknown risks. Distribution of applicable risks impacts the value proposition. Therefore, a straightforward risk mitigation plan will support the value proposition. Degree of specialization is another component of instant consulting approach to create value to clients.
Profit formula is dependent on an organization’s value creation philosophy, revenue, and cost models. Porter’s value chain analysis is a great assessment of primary and supporting activities to identify the values to generate profits. Finance and accounting techniques also assist to capture inefficiencies when it comes to monetary measures.
In general, market development and interactions with clients determine what processes to use. Paradigm formulates instant consulting by application of parallel processes to respond to its clients effectively. Networking, knowledge and specific tools are examples of resources that are essential to make the business model work.