How can we explain the sudden decline in Ryan's property tax consulting engagements in the Midwest region since last year?

Introduction

The sudden decline in Ryan's property tax consulting engagements in the Midwest region since last year is a concerning trend that requires thorough investigation. To address this issue, I'll employ a systematic approach to identify, validate, and address the root cause while considering both immediate and long-term implications for the business.

Step 1

Clarifying Questions (3 minutes)

• Looking at the timing, I'm thinking there might be a seasonal component. Has this decline been consistent across all quarters since last year?

Why it matters: Seasonal patterns could indicate cyclical business trends rather than a persistent problem. Expected answer: The decline has been consistent across quarters. Impact on approach: If seasonal, we'd focus on year-over-year comparisons and industry trends.

• Considering the regional focus, I'm wondering about local economic factors. Have there been any significant economic changes in the Midwest region that could impact property values or tax assessments?

Why it matters: Regional economic shifts could explain changes in demand for tax consulting services. Expected answer: No major economic changes specific to the Midwest. Impact on approach: If regional factors are at play, we'd need to tailor our strategy to local market conditions.

• Thinking about the service offering, has there been any change in Ryan's consulting package or pricing structure in the past year?

Why it matters: Changes in service offerings or pricing could directly impact client engagement. Expected answer: No significant changes to the consulting package or pricing. Impact on approach: If changes were made, we'd need to evaluate their impact on client perception and value proposition.

• Considering competitive landscape, have any new players entered the Midwest market or existing competitors significantly changed their strategies?

Why it matters: Increased competition could explain a shift in market share. Expected answer: No major changes in the competitive landscape. Impact on approach: If competition has intensified, we'd need to reassess our market positioning and differentiation strategy.