Inside Business: Consultants put their charges on the line
Sunday 13 June 1999
Nobody realises this better than Rick Peel, who has just launched his second consulting firm. After starting out with Bain & Co, he left in the 1980s to set up Coba, which he sold several years later to Renaissance Worldwide.
Now, with Renaissance indicating that its priorities lie in information technology, he has - by mutual consent - taken a team off to form Credo Consulting. "I saw opportunities around strategy that were not being exploited," he says.
Mr Peel sees particular potential in businesses that are either true start-ups or are moving into fresh areas. And, conscious that many would- be clients won't have the cash to meet his firm's fees, he points to Credo's willingness to link payment to the success of the client. "The opportunity we saw was to take a much more entrepreneurial approach to consulting," he says, adding that the Credo tagline "consulting for success" means the firm will put some of its fees on the line.
Mr Peel claims that in all the cynicism about fees, the issue is not so much the amount as whether the consultant has delivered on the promise. "The great thing about 'consulting for success' is that it allows you to have transparency."
In the three months Credo has been in existence, that approach has struck a chord with businesses as varied as small internet-based firms and large financial institutions.
While he suggests that Credo can create an empathy with clients through being young itself, he also points out that starting out with 45 people who have worked together as a team makes it different from the average fledgling consultancy. It also has offices in Munich and New York as well as London, and a network of experienced advisers.
But Mr Peel stresses that the real power of Credo lies in getting back to the basics of consulting: "The outsider can still challenge, and still has a role to play."
- 1 Autistic teenager beaten up by bullies makes them watch 20-minute video about autism
- 2 Greece debt crisis explained: A history of just how the country landed itself in such a mess
- 3 People all over the world are getting semicolon tattoos to draw attention to mental health
- 4 Greek debt crisis: Yanis Varoufakis's funniest (and most memorable) quotes
- 5 Swedish minister gives strongest case yet on why EU should stop turning away asylum seekers
Autistic teenager beaten up by bullies makes them watch 20-minute video about autism
Greece debt crisis explained: A history of just how the country landed itself in such a mess
German conservatives are destroying Europe with austerity, says economist Thomas Piketty
Man dies instantly after shooting firework from top of his head
Isis schoolgirl Amira Abase who fled London to join terrorists in Syria mocks victims of Tunisia massacre
More Britons believe that multiculturalism makes the country worse - not better, says poll
Osborne to cap family benefits at £23,000 – announced ahead of his post-election Budget
Nathan Collier: Montana man inspired by same-sex marriage ruling requests right to wed two wives
Forget little green men – aliens will look like humans, says Cambridge University evolution expert
Girl, 7, stares down hate preacher at Ohio festival with pro-LGBT rainbow flag gesture
Sickness and disability benefits could be reduced by £30 a week as part of £12bn welfare cuts
iJobs Money & Business
£40000 - £95000 per annum: Recruitment Genius: This is an exciting opportunity...
competitive: SThree: Are you passionate about sales?Do you have a keen interes...
£17000 - £30000 per annum: Recruitment Genius: This is an exciting opportunity...
£15000 - £17000 per annum: Recruitment Genius: This company offers a range of ...