Consulting fees are a valuable source of unrestricted funds and comes in large amounts compared to small donations from individuals. One client had feedback that WISE’s hands-on experience working with communities helps us stand out, and we should continue to leverage this advantage to stand out against private sector consulting firms and research institutions. Consulting assignments are also an opportunity to establish relationships with WASH stakeholders, which keep the organisation in touch with the latest trends in the sector, and could lead to further collaboration. By completing the assignment, WISE is able to expand our portfolio and gain credibility among potential supporters and clients. Team members also get to gain hands-on experience. A recent meeting with ACRES (Singapore) suggests that there may be demand for consulting services among the nonprofit sector. The Deputy CEO was interested in WISE’s behaviour change workshops and ability to conduct research.
SWOT analysis for consulting services Advantages Unrestricted; High payout; Opportunity to expand network, expand portfolio, gain credibility, improve expertise | Strengths Field experience; Professionalism | Opportunities Demand for nonprofit consulting in Singapore? | Disadvantages Unpredictable; Takes time away from own projects; Stress due to client pressure; Risk to credibility if assignment fails | Weaknesses Limited experience, expertise and qualifications; Limited networks and visibility; Poor marketing; Hard to communicate because team members are in different areas (Indonesia) | Threats Established consulting services with wider offerings |
Unfortunately, consulting is an unpredictable income stream. WISE’s small team, limited experience and range of expertise limits the number of opportunities and size of projects that we are able to bid for. This likely makes us less competitive compared to other organisations, in addition to our less than professional-looking CVs. Few WASH stakeholders know WISE, and stakeholders who know WISE are rarely aware that the organisation offers consulting services and the skills/expertise we offer. As a Devex article states, most consulting assignments are not advertised and many consultants are hired through inside networks, therefore it is important to expand our network and visibility. Improved marketing may help. The Practical Action Consulting webpage, for example, makes it clear that they focus on “the use of technology for poverty reduction”, that they have four areas of expertise and have six locations of work. The website also describes examples of projects they have done. There is a significant opportunity cost to working on consulting assignments as well. Not only does consulting take time away from WISE’s own projects, which contributes towards building a case of support for donations and grants, working with clients can be stressful. . |