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Balanced Scorecard Example: Professional Services Firm

A 40-person consultancy shifting from project work toward retained relationships.

This scorecard is built around one strategic shift: moving revenue from lumpy projects to predictable retainers. Every objective either supports that shift or is not on the page.

Read it bottom-up to check the logic. Train consultants in advisory skills, so the firm can run advisory engagements, so clients stay on retainer, so revenue becomes predictable.

Open this canvas in the editor
1

Vision & Strategy

  • Become the default advisory partner for mid-market firms in our sector, with most revenue on retainer rather than project by project, within three years
2

Financial Perspective

  • Retained revenue from 20% to 50% of total by year end
  • Gross margin per consultant from £78k to £92k
  • Reduce revenue concentration: no client above 15% of turnover
3

Customer Perspective

  • Client retention at 12 months from 61% to 80%
  • At least 6 clients converted from project to retainer
  • Client satisfaction above 8.5 on post-engagement survey
4

Internal Process Perspective

  • Consultant utilisation from 58% to 68%
  • Reduce proposal turnaround from 9 days to 3
  • Standardise the first 30 days of every engagement
5

Learning & Growth Perspective

  • Train 8 consultants in advisory (not delivery) skills by Q3
  • Build a searchable internal library of past engagements
  • Voluntary consultant turnover below 12%

What this canvas reveals

  • The causal chain holds: the learning objective directly unblocks the process objective, which drives the customer objective, which drives the financial one.
  • Utilisation appears under internal process rather than financial, which is correct — it is a driver, not an outcome.
  • Only two objectives per perspective. That restraint is what makes the scorecard usable in a weekly meeting.

Block by block

1Vision & Strategy

  • Become the default advisory partner for mid-market firms in our sector, with most revenue on retainer rather than project by project, within three years

2Financial Perspective

  • Retained revenue from 20% to 50% of total by year end
  • Gross margin per consultant from £78k to £92k
  • Reduce revenue concentration: no client above 15% of turnover

3Customer Perspective

  • Client retention at 12 months from 61% to 80%
  • At least 6 clients converted from project to retainer
  • Client satisfaction above 8.5 on post-engagement survey

4Internal Process Perspective

  • Consultant utilisation from 58% to 68%
  • Reduce proposal turnaround from 9 days to 3
  • Standardise the first 30 days of every engagement

5Learning & Growth Perspective

  • Train 8 consultants in advisory (not delivery) skills by Q3
  • Build a searchable internal library of past engagements
  • Voluntary consultant turnover below 12%