Firms such as Vanquis and Metro Bank in the financial services sector, First Utility in the energy market or Asos in retail could probably all lay claim to the ‘challenger’ label. Such firms have clear points of differentiation, whether its new products and services, new business models, refreshed campaigns or serving entirely new customers. Sometimes it’s a case of seizing on all of these to challenge established players on value grounds; Lidl and Aldi will immediately spring to mind, I suspect.

One aspect that appears common amongst challengers is that success of these firms is not only their differentiated approach, but their ability to apply their strategy quicker than the competition. I bet many of my former Army colleagues will recall that military advantage is all about “rapid cycle time on the OODA Loop” - the ability to Observe, Orientate, Decide and Act quicker than the opposition.

The consultancy market is no different and certainly we at P2 believe that challenger firms like ours can offer a distinct and value-based alternative to more traditional and established firms. The proof of our assertion is based on the trust our clients place in us to manage their large and complex change programmes.

So what marks out a successful challenger? Four key attributes spring to mind: