The consulting market is also increasingly fragmented

What this CEO learned by taking her company virtual

Debbie Carreau, CEO of Inspired HR and a member of the CNBC-YPO Chief Executive Network

Saturday, 13 Jun 2015 | 9:00 AM ETCNBC.com

 

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Just over a year ago, my company was headquartered in one of the most exclusive office buildings in Calgary, with neighbors including big banks, hedge funds, big law firms and multinational oil companies.

It isn't any longer.

We had achieved modest success in a highly crowded consulting space, but the business was difficult to scale without significant investment. The consulting market is also increasingly fragmented, with market share decreases for even the largest firms—now at 20 percent on average versus 60 percent to 70 percent some 30 years ago, according to Kennedy Consulting Research & Advisory.

Our executive team recognized it was time to enter the 21st-century way of doing business. In short, we were ready for an extreme organizational makeover...