Fostering Partner's Mentality Among Salaried Consulting Associates

We all know that a ridiculously high percentage of new businesses fail. According to the U.S. Bureau of Labor Statistics, 80% of start-ups go tits-up in their first five years, and 80% of the remaining 20% die in their second five years. That leaves us with a rather dismal 4% 10-year success rate.

And 4% is pretty low not only for surgeons and gladiators, but for consulting firm owners too. Different people name different reasons for this high failure rate, but my belief is that one of the main reasons is mindset. More specifically, many consulting firm leaders are short of or completely missing the business owner's mindset.

They are merely chased-away associates from their firms, and now play the business owner's role without without benefits, vacations and the security of their former companies. As Michael Gerber calls them in E-Myth, they are technicians with an entrepreneurial seizure.

They know how to do the subject matter of their professions, but don't know how to run successful businesses that sell specific subject matter expertise. And a similar problem raises its ugly head in many consulting firms.

And this is what we discuss this month's brain-fryingly exciting episode of Commando Consulting, entitled, "Fostering Partner's Mentality Among Salaried Consulting Associates".

Enjoy!