High-growth consultancies consistently show us that most smaller, boutique practices are underperforming compared to what’s possible.
This is not my opinion. I'll let the data proof my point.
Many boutique consultancies suffer with client concentration. According to BenchPress, 19% of firms rely on a single client for over 50% of their revenue. This isn’t just risky - it’s potentially catastrophic. If that client reduces their budget or leaves altogether, the business is left scrambling to stay afloat. Diversifying your client base isn’t just about minimizing risk, but also about creating opportunities for higher-margin work and building a more resilient practice.
Another widespread challenge is the lack of differentiation. Hinge Marketing highlights that many smaller consultancies fail to stand out, blending into a “sea of sameness.” Buyers confirm this perception, with 40% reporting that consultancies they evaluated didn’t fully grasp their needs and 32% uncertain about the value they’d receive. Without a clear and compelling value proposition, firms often default to competing on price, which is not only exhausting but also unsustainable in the long run.
Visibility is another area where consultancies fall short. Even firms that deliver excellent work are often overlooked because only 23% of buyers perceive them as having a strong public presence, according to Hinge’s Inside the Buyer’s Brain research. This is a serious issue because 9 out of 10 buyers conduct online research before reaching out to a consultant. And 80% of the time you're ruled out before you even have a chance to pitch, since your digital footprint doesn’t reflect your expertise. While referrals remain powerful - 70% of buyers begin their search by asking colleagues for recommendations - even the warmest referral will look you up online. Without a credible digital presence, your reputation may not hold up under scrutiny.
Pricing strategies are another area where consultancies underperform. BenchPress data shows that offering three pricing tiers doubles the likelihood of achieving high conversion rates (greater than 60%). Yet many consultants stick to hourly or single pricing models, reinforcing the perception that their services are commoditized. This aligns with Source Global Research’s findings on the “value-quality gap”: while 69% of clients feel the work delivered is high quality, only 40% feel it clearly exceeded the project’s cost. This 29-point gap suggests that many consultancies fail to capture the fees they deserve, leaving substantial revenue on the table.
Finally, chances are your business development is way too reactive. Gartner research reveals that the average buyer involves seven stakeholders in decision-making, and each one needs to feel confident that you understand their unique problems. Despite this, 71% of buyers say they want advisors to join earlier in the process - before a formal RFP is issued. Why? Because they recognize that they “don’t know what they don’t know” and value deeper, strategic conversations early on. Yet many consultancies only engage reactively, missing the opportunity to guide the conversation, shape the project’s scope, and position themselves as the obvious choice.
When these gaps exist, they don’t just block growth - they compound each other. For example:
The result? You stay busy, but your growth plateaus.
The good news is ithat you don’t need to overhaul everything at once to see meaningful improvement. Small, strategic changes - refining your positioning, introducing better pricing models, and boosting your visibility - can make a big difference.
"What a business needs most for its decisions - especially its strategic ones - are data about what goes on outside it. Only outside a business are there results, opportunities and threats.”
— Peter Drucker
Consultants who are making $300K-$3M+ annually per year tend to invest more in their business, market their business more frequently, win more proposals, and rely less on referrals.
Source: Consulting Success' Marketing Study 2023
What’s stopping you from earning more: unclear positioning, underpricing, or lack of visibility?
If these challenges resonate, our Go-to-Market Advisory Service is designed to help consultancy founders like you address these issues. Together, we’ll refine your positioning, craft pricing strategies, and build a pipeline that scales.
Let’s make this the year you stop leaving money on the table.