Generational Relevance for Professional Service Firms…

Michael D. Moberly, Principal, Founder, kpstrat    

I suspect most providers – deliverers of professional services may concede this reality; most services are generally conceived – perceived as being ‘elective, seldom necessary, unless (a.) circumstances warrant, and/or (b.) are sufficiently (ROI) enticing.

My experiences in this arena clearly suggest many leaders of elective professional service firms are (fiduciarily) obliged to

  1. not presume same will have (sustainable) generational relevance, and instead,

2. characterize (market, promote) their services and delivery methodologies, as near necessary, as their professional codes and ethics allow, cross-generationally.

Unarguably, neither should be overlooked, dismissed, nor presumed to not exist or be relevant. That is, producers – deliverers of ‘elective’ professional services, that wish to remain sustainably relevant with their current and prospective client base, e.g., financial, legal, business, medical, personal care, realty, accounting, etc., are obliged to…

define ‘generationally distinguishable strategies’ for attracting + delivering services relative to the intangibles deemed important to economically, culturally, politically, and educationally diverse populations comprised of…

  • Boomers I – ‘the Baby Boomers’, born 1946 -1954, current population = 30+/- million, compared to
  • Boomers II – born 1955-1965, current population = 45+/- million, compared to
  • Generation X – born 1966-1976, population 39+/- million, compared to
  • Generation Y (Millennials), born 1998-2006, population = 70+/- million, compared to
  • Generation Z – Born: 1995-2012 – current population 23+ and growing.

 Respectfully, its’ important to draw attention to…this generationally transcending economic fact – business operation reality, today, and for the foreseeable future,

  1. 80+% of most businesses’ value, competitiveness, sources of revenue, and future wealth creation lie in – evolve directly from intangible asset inputs, i.e., various forms – applications of intellectual, structural, and relationship capital, and
  • most business operations, products, and service delivery methodologies are now irreversibly, intangible asset intensive and dependent.

Going forward, the leadership of professional service firms are obliged to recognize howwhether conventionally developed – used models for characterizing – marketing their particular-services are ‘generationally – sustainably’ relevant, ala socially, culturally, politically, and economically, going forward?

Preparing to do this in advance represents a reasonable (ROI) path to achieve   ‘generational sustainability’ for firms offering ‘elective’ professional services. i.e.,

  • leadership of professional services firms who may presume the various factors, rationales, and/or circumstances which GenY’s and GenZ’s find attractive and necessary preludes to seek professional services, will necessarily follow convention of previous generations… may be an unnecessarily costly risk and/or an irreversible error!

In my judgement, familiarizing prospective (future) client groups with the cross-generational relevance of intangible assets (ala business things intangible) i.e.,

  1. variations of collaboratively converging inputs of intellectual, structural, and relationship capital relative to their transcending significance to clients (socially, culturally, economically, and politically, etc.),

2. can distinguish and convey a strong the rationale for future prospective clients to seek professional services.

The ‘Business Intangible Asset Blog’…800+ posts (since May 2006) expressing the convergence of business leadership with business things intangible.

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