Why Build It Backwards narrowed its consulting focus
Daniel Feiman is Managing Director of Build It Backwards, which teaches organizations to use strategy, leadership, finance and succession tools. Feiman discusses how listening to clients shaped the firm’s approach, why narrowing its services mattered and how it adapts its advice to each organization.
Ask clients what they need before deciding what to offer, then focus on the services where you can create the most value. Build It Backwards found that narrowing its service range helped business grow steadily.
What’s the short story of how your business started, and what makes it genuinely different from the other options your customers have?
I left a long career in commercial banking to be able to make a real difference with my clients. I bring the experience of working with a wide range of industries to each engagement, having worked in 31 countries with firms from start-ups to the Fortune 100.
How did you win your first customers, and where does most of your new business come from today?
I won my first clients simply by asking them what they needed, where it hurt & how could I create more value for them than they paid me for. This way I became an investment in their future rather than a cost of doing business.
Today, virtually all of my business comes from either my satisfied clients or the trusted advisors I have built up professional relationships with over the years.
What’s one decision that changed the direction of your business, and one mistake that taught you the most?
The best marketing decision I ever made was at the request/demand of my advisory board. We changed the name of the firm to "Build It Backwards" because that is how we work. No one forgets that & frequently asks how we do things.
The one mistake I made that taught me the most was trying to be too wide in our service offerings. Once we realized the "riches were in the niches" & narrowed our focus, business steadily grew.
What has changed in your industry or in what your customers expect over the last couple of years, and how have you adapted?
The only thing that has changed in the areas of coaching & consulting is that clients want an immediate & very individualized solution to their issue, rather than a slow generality that may get manipulated to fit them.
We have adapted by asking more questions & gathering more information before starting an engagement. We also use AI to support our research to give each client a more specific plan of execution.
If you were advising someone starting out in your industry today, what would you tell them to do first, and what would you tell them to ignore?
First develop a comprehensive strategic plan to cover: the demand, your offering, your financial budget, cash flow, your marketing plan & how you will survive until you are cash flow positive. This is a reality check.
Ignore the "nay-sayers" who say you can’t do it or having you own shop is too risky. Nothing is guaranteed, so shot for the moon & settle for a successful business.
Thank you to Daniel Feiman and the team at Build It Backwards for sharing what actually worked with Leaders Perception readers.
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