I launched my consulting practice in the fall of 2017. Here's how the top line revenue growth has looked since I started in the Fall of 2017.
Not bad for a one-person business, pure service-based business.
Often I get asked the question about how I grew my practice so quickly. I've written an essay on growing B2B SaaS companies quickly, a number of essays on the topic of consulting, and I teach a course on the topic.
One of the frameworks I built in early 2018 was actually built off a conversation with my friend Gregor and I want to share it.
In 2018 I was introduced to Gregor by our mutual friend Stefan. Gregor ended up becoming a friend and a student of mine, but at the time he was writing this well written pieces leveraging his executive experience at Amazon. In one of his essays he focused on building a stronger company.
I never had the intention of building my consulting practice into an agency, but I still wanted to build a strong practice and I asked him if the lessons might apply in my case.
Gregor asked an interesting question:
With so many urgent needs and so much — often conflicting — advice, how do you know the best path to rapid improvement?
He argued that Amazon is the force in commerce, technology, and logistics. He then presented me with Amazon's 14 Leadership Principles. He told me that these principles could help any company improve anything.
At the time I learned of these principles I had my personal growth framework and it worked well for my life, but nothing specific for the consulting practice.
I took Gregor's work and built a Google Sheet where I aligned the 14 principles down and created a weekly cadence to check in.
The Fourteen Principles are:
- Customer Obsession
- Invent and Simplify
- Are Right, A Lot
- Learn and Be Curious
- Hire and Develop the Best
- Insist on the Highest Standards
- Think Big
- Bias for Action
- Earn Trust
- Dive Deep
- Have Backbone; Disagree and Commit
- Deliver Results
I created a 1-4 scoring system:
1 - Not at all, or very little
2 - Somewhat
3 - Consistently and effectively
4 - We practically invented it
As you can see from the example visual below I started the process end of April and from the chart above both the remainder of 2018 and then 2019 were phenomenal years.
As I now venture into expanded areas like venture capital, training and development, and even building this blog I think this framework will come in handy.
I hope you find this helpful.
Vikrant Duggal Newsletter
Join the newsletter to receive the latest updates in your inbox.