I had to smile when Prof. Joe O'Mahoney told me he'd started out his career by studying ancient history at Oxford, and wanting to be Indiana Jones. But then he realised there was only one of those positions, and there were a hundred thousand people applying for it. And because he'd decided he was by far not the brightest, he did his master's and PHD in “businessy” stuff and then went straight into consulting.
As you do.
Because I studied History at university too and eventually ended doing consulting.
But Joe's path was quite different to mine. Over the years he grew and sold his consultancy business and eventually ended up becoming one of those rare hybrids … both academic researcher AND practitioner, researching what makes consultancies “tick” from a growth perspective. And what makes them desirable businesses for others to buy.
Joe is now a highly regarded author, speaker, and consultant who specialises in transforming consultancies. With his unique insights into the art of growing and selling consulting businesses, he advises on how to cultivate growth, increase profitability, and maximise business value.
Joe told me about his early career in business transformation and how it influenced his current approach.
We also talked about:
- The evolution of consultancy and the changing needs of business owners.
- Importance of focusing not just on profit margin, but on creating an asset that stands on its own.
- The varying reactions of CEOs to his consultancy and how he navigates these dynamics.
- The concept of ‘nemo washy' – a Japanese concept of gradually introducing changes for smoother transitions.
- Valuable advice for business owners who might be considering walking away from their business, stressing the significance of succession management and transforming the company into an asset.
Don't miss out on this enlightening conversation with Professor Joe O'Mahoney where he delves into the world of consultancy transformation. Listen to the full episode now!
And I hope you have an amazing rest of the week.
Trudy Rankin is the host of the Online Business Launchpad Podcast, Director of West Island Digital and the founder of the Online Business Lift-Off program.
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- Joe’s Website: https://joeomahoney.com/
- Connect With Joe On LinkedIn: https://www.linkedin.com/in/joeomahoney/
Prof Joe O'Mahoney
Joe is a leading authority in the consulting industry and a consultant to boutiques and small consulting firms. His research on the profession has won several prestigious awards and publications and resulted in the leadership of high-profile government-funded research into the profession. Joe’s textbook on Management Consulting (published by Oxford University Press) was the best-selling in Europe, and his academic research has been published in the top international journals. His most recent, evidence-based book on growing consulting firms in the digital age (published by Routledge) is the ‘go to’ growth text for CEOs and Managing Partners worldwide.
Prof Joe O’Mahoney