Ep 61 - Nicolai Stickel - How to Bulletproof Your Business Model With Recurring Revenue
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The consulting industry has enjoyed a lucrative run over the last decade, but what will happen when that inevitable downturn strikes?In this interview, General Manager at STAR®) Nicolai Stickel) explains why a mix of strategy, project work, and implementation support are critical for the long-term viability of your consultancy, and how a balance of winning new projects and selling subscription-style services can provide a stable buffer for a financial downturn. He also shares why they have started hiring remotely, and how social media platforms have enabled them to hire top-tier talent.You'll learn:1. How to bolster your business model with recurring revenue2. The effect of opening up remote positions for talent acquisition3. How to foster teamwork and collaboration with a hybrid work model4. How to leverage multiple social media platforms to win more talent5. How to use 'rapid prototyping' to win more clients_________About Nicolai):As General Manager, Nicolai is heading-up the Consulting unit of STAR COOPERATION®). He is with STAR® since its spin-off from its parent company Daimler AG in 2005. Prior to that, he spent 10 years at Hewlett Packard in various specialist and management positions, supporting the transformation from a product company to a service company in the field of printing. He has a degree in economics from the University of Augsburg and a diploma from the St. Gallen Business School. At the Stuttgart University of Applied Sciences, he teaches the subject of Service Management.Find Nicolai on LinkedIn: https://www.linkedin.com/in/nicolai-stickel-aa389328/) Nicolai's business book recommendation:ReThink - New Work by Wolfgang Eckelt | amzn.to/3QEggI9) Nicolai's favorite podcasts:The Mckinsey Podcast | spoti.fi/3s5t1kG) (Spotify), apple.co/47pjF3m) (Apple)The So What from BCG | https://spoti.fi/3Orsm4x )(Spotify), https://apple.co/3Oxu4l3) (Apple)_________About the Expertise in Consulting at STAR®):With strong expertise in the automotive sector, their Consulting experts support its clients' transformation journey with a focus on marketing, sales, and aftersales functions. With a market-oriented and data-driven approach, they identify business potentials and implement solutions throughout the customer journey.Website: https://www.star-cooperation.com) Industry: Business Consulting and ServicesCompany size: 501-1,000 employeesHeadquarters: MunichFounded: 1997_________About the host Sammy):Sammy and SAWOO) offer a B2B community-building service that establishes you as a thought leader in your industry and helps you build genuine, human-to-human relationships with your dream clients.Get in touch with Sammy here) on LinkedIn. _________Past guests on the LEADERS IN CONSULTING Podcast include: Friederich von Hurter, Melanie Tobler, Tilman Au, and many more!