Consulting Can Uncover Big Opportunities

I’ve known a few founders who’ve built interesting products because of consulting. A consulting engagement usually includes a discovery process that will help the consultant understand the business or process before they make recommendations. This can lead to the consultant seeing that there’s a big opportunity they’d like to be part of. These savvy founders then build a solution to solve the problem and then productize the solution, by arrangement with their consulting client.

I recently connected with a founder who’s taken this path. The pitch began with an intro to the problem and the solution he’s built. Over the course of our conversations, I learned about his consultancy and decided to dive in more there. I realized that the product he’s pitching addresses a small part of the larger problem he’s solving with his consultancy. I suggested that he lead with the larger problem and how his consultancy has positioned him to be uniquely qualified to solve it. He has an understanding of the space that’s much deeper than most people’s.

I can’t say if this company is a good candidate for venture funding, but I think the founder has found a large market that’s likely to continue rapidly expanding. He’s in a unique position and has an opportunity to build a big business. Can’t wait to see what the future holds for him.