One Year after the Start – Consocium Takes Stock
About one year ago, we started with a rather simple idea: Consocium brings together companies’ consulting needs with a network of freelance management consultants whose qualifications match exactly the client’s requirements and who typically can offer their services at a more economic price than large consulting firms. So far, this has been a success: More than 75% of clients requested follow-on projects.
80 Projects in the First Year
After the first year in business, Consocium’s client base consists of small and medium enterprises as well as large corporations. Moreover, Consocium freelancers are in high demand from consulting firms to complement their project teams flexibly. More than 80 projects were staffed with alumni of leading strategy and management consultancies as well as highly specialized industry experts. Across a broad veriety of industries, projects comprised strategy, restructuring, process optimization and project management topics. Professional fees ranged from 800 to 2,500 EUR per day with Consocium charging a commission of maximum of 15%. The average project duration was four months.
Quality is Key
Consocium’s high quality standards have paid off and resulted in many project extensions and follow-on projects. Consocium does not only rely on a matching algorithm it has developed but also on the personal impressions from candidate interviews and client feedback.
Swarm Intelligence by Acting as a Network
Consocium has been acting more and more as a true network, which also affects the way projects are won: All of the 500 Consocium members who receive client requests they do not want to accept themselves can pass these on to the network and participate in the gains (for further information, please click here). One third of all new projects has been won in this way recently. In the near future, Consocium plans to further grow its network activities, and expand particularly in the Swiss market.