Tuesday, October 16, 2007

A Potential Client's Triggering Event: The Strong Loonie

We often speak about triggering events as the force that inspires potential clients to move from a state of inaction, into a state of action. For our purposes, the optimal triggering event is an external force that drives change, usually with some sort of time limitation.

Yesterday, the head of The Business Development Bank of Canada, Jean-Rene Halde told Canadian business that they need to make changes to survive the high Canadian dollar, and make them fast. He encouraged Canadian business that may have traditionally leveraged a 40% currency advantage for success to "buy new machinery and equipment, outsource what you can and invest in the intangibles...things such as research and development, technical and managerial training, and process re-engineering."

For many consulting firms this is exactly the kind of activity that will drive clients to seek out their assistance. Is your firm benefitting from this new force of change?

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