The results I see are surprisingly the same. Sometimes they make it, but most times they don't.
The thinking behind this generally follows this logic:
- That they have industry experience, so they can test the products and service offerings as well as mentor the team.
- If they were anybody relatively important in their past life they will also have a host of contacts that could possibly be mined in one way or another.
- And, as an ex-god of industry they are recognized at conferences, seminars and in board rooms. Adding an additional air of credibility to your offerings.
From my experience it seems to be related to the following points:
Ego is a killer - It is hard to go from the guy behind the desk, where everyone comes into the room bowing and scraping. To being the guy who is coming into the room bowing and scraping.
Sales is a different skill set - Consulting, in whatever field, is all about sales. All the time. Not just some of the time but every moment of every day you are selling the company, the services, the deliverables, the product and a range of other things. If you have never done this then it is a difficult mindset to get into.
Operations are different - Look ahead revenue forecasts are accurate for 6 months - tops. People are the most important thing - they are the only thing. Talent is brand, orders to cash is quicker and so on.. a vastly different operating environment.
Everyone has ideas - Ideas are great when you have a team of people to carry them out. They are not so welcomed when you have to sell them to industry leaders who actually have their own ideas. Again, a different skill set.
Don't get me wrong. If you can get an ex-God of industry on the payroll, even as an associate; and they are able to make the switch - then it is a fantastic idea and one that is worth a fortune in increased revenue.
But - if you really want somebody who is going to boost revenue, boost client loyalty and increase the brand value, then look at the senior partners of Big Four or other such companies. Nobody knows the business like the people who are driving it today.
If you enjoyed this post please consider subscribing to this feed, or you can subscribe to Consulting Pulse by email.