It can make the difference between being a worthy runner up and first prize when it comes to tendering for a major new client. The difference lies simply in one firm’s ability to realise the potential of its knowledge capital for the benefit of its client, while the other indulges itself in its past capabilities and successes. The competition may have a good track record and reference points, but the inclination is to present these achievements as medals of honour without mention of the inevitable hurdles which needed to be overcome.
The true value of references lie in ‘collateralising’ the value of experience and any lessons learned for the benefit of the client. A good track record is no assurance that a firm can deliver its promises today, particularly when the knowledge resides with individuals with unique expertise or experience.
