Episode 15: Profit In Management Consulting With Peter Laughter
Peter Laughter, CEO of Wall Street Services in NYC joins Episode 15 of the Profit First Podcast. Peter explains how the staffing industry works as well as how he makes a profit from it.
Our Guest
Peter Laughter and is the CEO of Wall Street Services where they allow Management Consulting Firms and Program Managers at Investment Banks take on projects that are beyond their capacity. They provide highly skilled Project Managers, Business Analysts and Subject Matter Experts who help their clients implement key strategic initiatives. Peter joined Wall Street Services in 1995, driven by a passion for helping others identify barriers and self-limiting beliefs standing in the way of a fulfilling career. Additionally Peter is a founding member of the New York City Chapter of Conscious Capitalism – an organization dedicated to transforming the planet by to liberating the heroic spirit of business. He has also finished the New York City Marathon, several 70.3 Triathlons, and regularly tells stories at the Moth’s Story Slams. More than anything, Peter loves riding the Cyclone with his daughter, Eddy.
Show Quotes
Management consulting firms are designed to find specialized people quickly. Most clients don’t have the ability to move as quickly as a staffing company.
I charge my clients a bill rate that is higher than what I pay my employees (typically about 40 – 50% over employee salaries)
Relationships and systems; both are critical factors particularly in finding the really hard to find people. They are not going to respond to an advertisement – get in contact with them through relationships with other people.
Work with customers that have a very narrow demand; focus exclusively on one specific market segment makes all the difference.
Profit is as important as oxygen, however, I don’t live to consume more oxygen.
When I do good work and my clients are happy I make more money. Taking good care of our consultants and making sure they’re happy with what we’re providing to them, more business comes my way.
Hire fantastic people. When you find good people who are excited about what they do, they work harder and they take care of your interests without you having to tell them anything – because they are good people aligned with your values. You trust them and you enjoy going to work with them.
Profit follows purpose.
Show Links
Wall Street Services: http://www.wallstreetservices.com/
Peter’s Speaking Site: http://peterlaughter.com/
LinkedIn: http://www.linkedin.com/in/peterlaughter
Show Sponsors
Nextiva – VOIP phone providers for small businesses.
Fundera – Single source online funding for entrepreneurs. Also offers an adviser program for CPAs, bookkeepers and business coaches.
TSheets – The #1 customer rated time tracking solution!
The post Episode 15: Profit In Management Consulting With Peter Laughter appeared first on Mike Michalowicz.
