Traditional consulting is being pressed to offer a meaningful fresh face to its added value.

* It’s now almost assumed that creative ideas are what consultants are good at. Clients are no longer excited by mere “idea mills” churning out brainstormed concepts.

* The crippled economy, perennial corporate downsizings, and nonstop advances in technology have swelled the ranks of displaced impromptu consultants. These often insightful “basement creatives” can be long on gray matter, but have scant expertise in execution and nearly no experienced staff to build a substantial idea from the ground floor in a reliable, efficient way.

* Even experienced, full-service consultancies now find these opportunities restricted because they lack either a penetrating network within the financial community’s capital pools or a dedicated, ongoing investment banking partner. This access delivers the 360° implementation capability clients find so painfully lacking in consulting support today.

The leadership guru Warren Bennis once observed: “There is a profound difference between information and meaning.” In the last decade, the combined impact of information technology and communication have driven home this difference more forcefully than ever. The value of information pure and simple has become even more negligible. Uninterpreted information is a nuisance, not an advantage.

The first blog in this series described how manufacturers and retailers are changing as clients. To serve them, strategic and marketing consultants have to deliver what Bennis terms “meaning” in a new way. They don’t just articulate solutions. Breakthrough consultants are now active partners in creating new businesses.

Ironically the financial sector is bulging with capital resources these days. On June 23, the New York Times reported, “Private equity firms, where corporate takeovers are planned and plotted, today sit atop an estimated $500 billion.” And the clock is ticking at a whirlwind pace. “Private equity funds generally tie up investors’ money for 10 years,” the article continues. “But they typically must invest all the money within the first three to five years of the funds’ life. For giant buyout funds raised in 2006 and 2007, at the height of the bubble, time is short. They must invest their money soon or return it to clients.”

Financiers, on their own, are not a solution for companies who want to grow their brands.

* They are impatient with the necessary development work, even more so than brand-owning companies; and dealmakers are reluctant to immerse themselves in the myriad of project details.

* Good at measuring quantitative targets, investment firms can be shortsighted in how pressure points in a project should be met and too anxious to trim expenditures essential for long-term quality.

* The reputation of the financial sector is tarnished by all too many opportunists who make lavish upside promises to venture partners and never deliver. Parts of the culture are still mired in exploitative, untrustworthy, anything-to-make-a-deal commitments. The business model cries out for responsible, logical investment management by experts with a blend of strategic, conceptual, implementation, and financial savvy.

* It’s often considered a “snap” to raise capital on the heels of a successful, established business strategy. Smart money knows differently. It takes intelligently discriminating networking. That’s the only way to identify financial partners who are an energizing pleasure to work with over the long haul of a venturing association.

The new face of consulting couldn’t be more activist. A “meaningful” consultant goes well beyond being a thoughtful cheerleader. He suits up for the game and digs his cleats into the playing field as well.

Tags: 360° implementation capability, basement creatives, brand-owning companies, crippled economy, displaced impromptu consultants, financial sector, gray matter, idea mills, impact of information technology and communication, manufacturers, perennial corporate downsizing, retailers, The leadership guru Warren Bennis, the value of information, Traditional consulting.