Consulting Firms

“Yeah, because there's going to be a period of time where somebody's got to help all these companies figure out how to implement AI And not only implement it, but how to reformulate their businesses.”

“But the best way to get the same outcome as everyone else Is grab a consulting firm, ask them what is the best practice in x industry, and do that. But what that gets you is what the industry does.”

“The single largest expense on our income statement was millions of dollars paid to a well-known consulting firm whose advice can be approximated as the following. We paid him five million dollars for this. This voice was basically the following tweet. Do every…”

“So I think a lot of these consulting firms will probably need to transition away from you know the billable hours of the hands on the keyboard and more towards change management, strategic consulting.”

“What has happened is that in marketing, for example, the tech companies, the consulting firms that sell stacks, and I owe a lot of this to a guy called Adel Borky, very interesting, self-taught Libyan marketing writer, former boxer, Anil Borky, and I coined th…”

“I think what it means to be entry level in a company will change a great deal because what entry level has generally meant in consulting firms and at investment banks has been doing shit work in particular being really good at spreadsheets and writing summarie…”

“I think one of the other failures, by the way, that's even prior to that, and more, the easier failure to become a consulting firm, it's where you build the product in the field that the customers are asking for, rather than the one that's actually valuable to…”

“Even at a smaller size, consulting firms, they require too much capital in the business attached to your consultants, aka labor costs. People are expensive. It's kind of also not a business, but a collection of individual jobs. So don't buy jobs.”

“I, you know, I've said many times is that if you look at the European landscape, majority, vast majority of the European GPs have not spent a single day working in a real company. They've worked in consulting firms, banks, but they haven't worked in a real ope…”

“They designed it to basically be one of these, like, million dollar or five million dollar reports you pay for from these consulting firms. That MBA's right. And it does a better job. It's more accurate. It's done in five to 10 minutes.”

“The tailwind that has helped all of us the last decade is the OCIO channel. And that has been a great source of growth for us and many others.”

“They pay consulting firms tens of millions of dollars, hundreds of millions of dollars to do these data migrations. And it's, you know, even after that, no change in results.”

“Law firms, consulting firms, hourly billing businesses that have armies of people doing things that the machines can do are That's over.”

“My experience working with companies is that the senior executives have to do this. And my experience is that the senior executives know pretty much everything you need to know to do this. That you don't need, you know, consulting firms to come in and analyze …”

“I've talked to a couple of consulting firms about, well, you guys like to learn how to do Foundries, and they say, how does it work? It's one guy for three days. That's not what we do. We do 10 guys for three years. It's not a business model. But that's a nice…”

“I'm still always fascinated how good some of the big banks and the consulting firms are to lure in top talent, because if you're being honest, the job is pretty boring.”

“Don't go working for some consulting firm, you know, out of school, right? Try to get a real job in the real economy, building real products, selling real products. He says, you really need to feel what it's like, you know, to sort of be in the drive train of …”

“And they last I talked with him about seven, eight, nine months ago, they were grossing nearly 400,000 dollars a month.”

“Agencies are a little bit like a law firm or an accounting firm or our consulting firm where you've got this kind of flat linear growth that happens over time.”

“Normal times, if you build a SaaS up into the one, two million ARR and up, you can sell out of, let's say, four to six, four to eight, Revenue multiple versus a consulting firm. I think you sell it for one times annual revenue.”

“So we sell to agencies, to consulting firms, to law firms, accounting firms, these companies that are selling hours, they need to understand their profitability on a, in real time.”

“These meetings can be anywhere between a 1002 thousand dollars a meeting.”

“That may be one of the things that we lose by not having the in-person meetings in the office. I think that can often be part of the conversation at the beginning or end of a manager meeting, kind of the casual chit chat of, hey, what are you hearing from othe…”

“We were still also a consulting firm at the same time. So we were trying to play both sides of the street. And that also probably contributed to some of those difficulties.”

“I do think a lot of consulting firms that try and go into software really struggle because it's a totally different effort in terms of building a company and getting in finance and hiring their team. There's just a lot more risk involved, and Building a softwa…”