Why Consulting Practices Fail

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Boomer Consulting, Inc. has been in the consulting business for almost 20 years. For the past two years, we have coordinated an association of accounting firms engaged in Information Technology (IT) consulting called The Boomer Network, or "Boomer-net" for short. Firms join Boomer-net for many different reasons, and come from many different backgrounds and structures as they launch their consulting practices. Our work shows us that while there is no way to guarantee success, there are some sure indicators which point toward failure. This article will point out some of the pitfalls to avoid, drawing on lessons painfully learned from firms that tried and failed.

Lack of Prior Preparation

Before ever thinking about getting into IT Consulting, a firm must ensure that its "own house is in order." The internal firm technology must be a model that can be proudly shown to others as a demonstration of how to do it right. For example: Does your firm have up-to-date computer hardware, software, and networking infrastructure? Do you have secure reliable highspeed connection to the Internet? Does everyone in the firm have full time desktop access to the Internet? Do your employees have secure, reliable, and easy to use remote access to your network, so they can use network resources from a client site, a hotel room, or at home? Are your software applications up-to-date, standardized, and properly licensed? Are you moving towards a paperless environment with stored document images, and the free flow of electronic data from one application to another? Do you have a strategic technology plan for your business? If you can answer "yes" to most of these, …