Client
Niche Strategy Firm
Objective
Rapid Growth
Situation
A mid-sized, 15-year-old strategy firm needed a strategic plan for aggressive growth with the intent to sell the firm within 3–5 years. Though the firm held a unique leadership position within a niche industry segment, it faced a number of challenges. Its business development and strategic account management processes were largely outdated and it was getting harder to win larger projects.
Pilgrim helped the firm’s partners understand that they’d have to make investments in order to expand their client base, improve the firm’s value proposition, and support growth. Larger projects would require major changes to their delivery and customer relationship models, including significantly more time spent on-site with clients. However, a wide difference of opinion between older and younger partners had to be managed as to how much to invest and how much risk would be acceptable to the partnership.
Engagement
Over a three year period, Pilgrim conducted a series of projects to align leadership, assess and address client perceptions, identify key differentiators, and establish a new path forward. The result was a strategic plan to support revenue growth and investments, as well as to target a set of strategic clients.
Once the strategic plan was put in place, Pilgrim proposed, created, and helped implement a new organizational structure to align the delivery model with the client relationship model. In the process, Pilgrim benchmarked the support organization and proposed specific investment areas to maximize internal services as well as to accelerate the growth and development of talent in the organization.
Results
The partnership followed our plan for expansion and investment, and experienced annual growth of over 20%. After three and a half years of managing the new strategic process, the company was successfully sold to a global consulting firm.
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Based in Wellesley, MA, Pilgrim Partners, LLC delivers world-class advisement to executive teams across most areas of professional and technology services. Since 2004 we have helped organizations to build and grow their organizations using our data-driven, market-based strategic approach.
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