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In this talk titled '20 years and going: making it as a consultancy', Dimiter Petrov, a development team lead at thoughtbot and co-organizer of the Helvetic Ruby conference, shares his insights on what consulting companies do well and offers advice applicable to both consultancies and product companies. The discussion is divided into two parts: the first focuses on the successful practices of consultancy firms, particularly thoughtbot, and the second explores how these practices can be adapted by product companies.

**Key Points Discussed:**
- **Definition of Success in Consulting:** Dimiter defines success as a balance between sustainable operations and employee happiness, discussing a past experience that reflected differing values within a company.
- **Community Investment:** Successful consultancies, including thoughtbot, invest heavily in community engagement through open source contributions, blog posts, and educational content. He emphasizes the role of content marketing and knowledge retention as essential components of a consultancy's success.
- **Personal and Company Incentives:** Dimiter outlines motivations for employees to contribute to the community, highlighting the fulfillment of being recognized and accumulating knowledge that benefits both the individual and the organization.
- **Investment Time:** He introduces the concept of investment time, which includes investing in personal skill development, improving company practices, and engaging in community service.
- **Practical Advice for Product Companies:** Dimiter suggests a three-phase plan for product companies to introduce similar structures: starting small, gaining momentum through team collaboration, and mastering the process via ongoing learning initiatives like book clubs, hackathons, and shared growth activities.
- **Leadership's Role in Continuous Improvement:** He emphasizes the importance of investing in employee development and establishing good communication practices across teams to promote knowledge sharing and timely feedback.

**Conclusions and Takeaways:**
- Collaboration and community engagement are vital for the long-term success of both consultancies and product companies.
- Organizations should foster a culture of learning and improvement, treating employee development as a priority rather than a cost.
- The insights can help guide individuals and leaders on ways to elevate their workplace's practices, enhancing both employee fulfillment and company success.

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