On this week’s Rethinking Professional Services, we discussed Rethinking Knowledge Management. My passion for this topic is driven by a recognition that it is frequently undervalued. Many services teams do not realize that just like a product strives to create functional differentiation, professional services teams must also do the same.
While writing The Seven Principles of Professional Services, I intended to explain the value customers see in paying for professional services by developing an illustrative equation.
Professional Services Value (PSV) = Knowledge + Experience + Skills
While for illustrative purposes only, the equation surprisingly identified some interesting facts about the use of “Knowledge” as an asset in professional services.