This is shocking because it shows the extent to which outsourcing is no longer a trend, but just a simple, fat reality. Fact. The days of Hershey, PA life-time employment are long-dead. Labor has become so specialized (read: Adam Smith talk) that there is a company willing to take that repetitive process off of your… Read More »
The post Outsourcing is reality: Of top 20 global companies, 5 are outsourcers appeared first on Consultant's Mind.
Managers assume too much. We get busy and think to ourselves, “I have seen this problem before, I know what to do, why don’t you get it?” We (falsely) assume junior consultants should know what we know. Silly bias. As result, expectations can be high. It is management consulting, right? Exceed expectations. We work with the best… Read More »
The post Good is predictable, great varies appeared first on Consultant's Mind.
In the WSJ today, learned that UPS encourages / asks its office workers to help sort and deliver packages during the holiday delivery rush here. Quotes from WSJ article in blue italics. UPS normally has “ready teams,” or office workers that help to sort, load or deliver packages, that it sends out to clear problem spots throughout… Read More »
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Can you believe another year has almost come to an end?!
I’ve had a lot to reflect on this year…
My step-father Barry passed away from Alzheimer’s.
Two young kids in our extended family have been dealing with illness, including one suddenly diagnosed with Cancer.
I look at the energy and life my daughter Rei has each day and this really puts things in perspective.
All of this continues to strengthen my belief of the importance to cherish every moment we have.
Several years ago I intentionally chose to live life by focusing on creating positive memories.
When I’m making a decision, I ask myself, will this be something I will feel good about, be excited about, and appreciate, not just now, but years down the road. This mindset has served me well.
On the business front it has been an incredible year.
In fact, it’s been our most successful year as a company.
Most of our clients become clients by simply reaching out to us. So if you know any consultants looking to grow their business feel free to make the introduction and let us know.
We have big plans for 2018. A few new projects we are very excited to bring to life and share with our community and clients.
I always find this to be a special time of year. A time to reflect and appreciate all that we’ve experienced over the last 12 months. And a wonderful time to plan specific goals that we’re excited to realize in the year ahead.
From all of us here at ConsultingSuccess.com, and from my family to yours, I want to wish you a very happy holidays.
My very best and wishing you a year of health, happiness and success.
Michael Zipursky
ConsultingSuccess.com
Personal Holiday Season Message For You is a post from: Consulting Success
Management Consulting. It’s a lot of things. It is an industry; we all know McKinsey, BCG, Bain, Deloitte, PWC, and others. It is a profession built on asking good questions. It is a team sport. It is a bit of an attitude. It is a tribe that is difficult to get into. It is a set… Read More »
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Transform your failures into success in no time by implementing sales systems that will work for you.
Description:
Bob Burg is a sought-after speaker at company leadership and sales conferences around the world. He has shared the platform with everyone from seasoned business leaders and broadcast personalities to a former U.S. president. He is the author of numerous books, and the best-seller that he is best known for is The Go-Giver: A Little Story About a Powerful Business Idea, which he co-authored with John David Mann. Their book has sold over half a million copies, has recently been re-released and translated into 21 languages. On this session of the Consulting Success Podcast, we dive into the story of this unsuccessful journalist who transformed into a powerful author and speaker. We examine powerful sales systems and how to make them will work for you, why you have to embrace the ‘nos,’ and the advantage that having people skills will give you over the competition. Whether you’re an introvert who resists sales and marketing or an extrovert who needs to learn how to be a better listener, you won’t want to miss the time-tested tips and systems from the author who speaks, Bob Burg.
Before becoming a world-renowned author and speaker, Bob Burg worked in broadcasting. He started out as a sports broadcaster for a local radio station, then landed a spot as a TV news broadcaster. He enjoyed the job but wasn’t very good at it simply because he wasn’t interested in journalism. Without a passion for journalism, he knew he needed to make a career change and graduated into sales. The challenge he then faced was a lack of knowledge about sales. Despite his willingness to put himself out there and make connections with people, he wasn’t finding much success. On a serendipitous day 35 years ago, he wandered into a bookstore and found himself in the sales teaching department, surrounded by the works of Tom Hopkins and Zig Ziglar. After just a few weeks of studying and implementing their ideas, Bob’s sales went through the roof.
After years of failure, it seemed improbable that Bob could find success in such a short time. But by simply applying the information he learned from these sales masters, Bob had discovered a successful system that worked. By implementing this new system, he was prepared for success. He shares the simple and essential role that systems can have on the success of any work you do. He defines a system as the process of predictably achieving a goal based on a logical and specific set-up. Predictability is the key — it’s been proven that by doing “A” you will get the desired results of “B.” As long as you are willing to continue to do “A,” you will continue to see the results you want in “B.”
After discovering this methodology, Bob immersed himself in the study of sales and personal development and the applied that information to his approach to sales. He worked his way up to sales manager and began teaching people his methods, but that was just the launching point of his success.
I was a bit dubious about Bob’s ability to turn around his sales work in just a matter of weeks, but you have to hear how it worked for him. While telling his story, he explains how simply having a system in place was the key to his transformation from failure to success.
An entrepreneur at heart, Bob recognized and capitalized on the opportunity to become an independent speaker. It was at this point that he discovered (again) that having a system in place would offer him greater success. Bob joined the National Speakers Association and by expanding his network and surrounding himself with experienced mentors, Bob learned how to market himself, grow his business, and sell his speaking services.
He appears to be a natural speaker, but Bob likens his work to that of a “decent athlete.” Just as truly successful athletes work very, very hard at becoming the best, Bob has put countless hours into learning from others in order to become the best speaker he can be. In the early stages of his speaking career, Bob offered hundreds of free speaking engagements, each one helping him to hone his craft and perfect his skills. Still today, he continues to watch other successful speakers and learn as much as he can from them. The work he has put into becoming the best hasn’t been easy, but Bob has proven that it does pay off.
Just as the masterminds Zig Ziglar and Tom Hopkins explained before him, sales is all about asking questions — discovering what a person really needs and what they want. As a successful consultant, you have to focus on the needs of your client and highlight the ways you can create value for them. The first and great mistake that too many consultants make is asking clients to listen to you talk about yourself, your products or your methodology. It may be interesting information, but that is not what clients are interested in. They want to answer the engaging questions that you are asking about them. This is a mistake that Bob says he sees consultants make far too often, simply because it is natural to want to talk about ourselves. But no matter how much you believe in your products and service, and no matter how exceptional the value you may be able to bring to your clients, talking about yourself is very ineffective. Clients who know that you understand their needs and problems will become the clients that are seeking your expertise.
By having a system in place for handling and moving on from each no, you are positioning yourself for greater success and more “yeses” in your future.
The ability to show genuine interest in others is the differentiating factor between people who enjoy a moderate and an enormous amount of success. Technical understanding and skills are absolutely essential, but they are just the entry fee for getting into the game. People skills make up the real difference. Bob believes that the absolute best skill that you can have is a well-developed and authentic interest in other people. As you’ve most likely seen in your work, people know when someone is genuinely interested in them and when they are simply interested in what’s in their wallet. By developing genuine people skills you can gain the advantage and win the trust of potential clients.
Even though he regularly places himself in front of large audiences, Bob considers himself an introvert. He believes that introverts make better salespeople because they are more willing to listen — they exhibit greater people skills. Unless an extrovert is willing to stop talking, they won’t be able to show the same genuine interest in their clients that an introvert does. I often hear consultants say that they are uncomfortable with sales and marketing, but that doesn’t have to be a defeating characteristic. You don’t have to hide behind your introverted tendencies — you can use your unwillingness to talk about yourself to your advantage when gaining the trust and confidence of your clients.
As a writer of many successful business books, Bob is somewhat of an expert on the importance of becoming a published author. Authoring a book puts you in a better position — it gives you the authority in your marketplace that allows you to charge higher fees for your speaking engagements. That may seem like common knowledge today, but in the 90s when Bob decided to give it a try, writing a book was a less common approach to success. At the time, he simply considered himself a speaker who wrote books, but the Go-Giver series changed that approach as he began to share his stories. Over time Bob began viewing himself as a writer who speaks.
He used his earlier books as simple and effective outbound marketing tools, but when he started telling stories in the Go-Giver series, he began being approached by companies that had read his books and wanted to bring him in for a speaking engagement. In our conversation, he shares how he used his earlier books, including Endless Referrals, as marketing tools, how his books helped him connect with companies, and why all of that changed after he wrote the Go-Giver series. If you’ve ever considered writing a book to help increase your authority and credibility in your field, you will be inspired as you listen to Bob’s story.
Amidst the work that Bob was doing to promote his work and his book, he was faced with a lot of rejections. Like most consultants, he needed to find a way to get through the rejections to move on to the successes. Bob recommends reading Go For No — Yes is the Destination, No Is How You Get There to better understand the value of all the “nos” that you are undoubtedly going to hear while seeking new clients and projects. Of course, no one really likes hearing “no,” but Bob explains that by understanding that “no” is part of the process, and that by accepting the “nos,” you are essentially preparing yourself for tomorrow’s highly anticipated “yes.”
Once you recognize that the “nos” are going to keep coming, you need to have a game plan — another system — in place. You need to decide what you’re going to do when you hear another no — how are you going to follow up with the person that has rejected you? How will you know when it’s no longer worth following up with that person? By having a system in place for handling and moving on from each no, you are positioning yourself for greater success and more “yeses” in your future.
If you’re in the thick of growing your business, you’re probably looking for ways to grow your revenue and sales. In the middle of this, you have to focus on creating real value for your customers, rather than just completing another transaction. That may be hard to understand, and if so, you need to listen to Bob’s reasoning of why the mind-shift from more money to better value is an essential one.
Rather than waiting for clients to reach out to you, find ways to put yourself out into the marketplace. Put content into the marketplace by way of online articles or regular blog posts. That makes it easier for clients to understand who you are and what you have to offer.
We know that money received is a direct result of value provided, but focusing on the value doesn’t mean give away yourself away for free. Instead, it is critical to communicate the value that people will receive by doing business with you. Until your potential clients can understand the value they will receive from you, they won’t be giving you their money. You can change that by explaining your value to them in a way that will make them want to do business with you. Once they understand your value, clients will understand how they will be better off by doing business with you.
In my experience, I have seen that many consultants find it easy to provide value but difficult to make a clear offer. Bob offers several solutions for this problem. Rather than waiting for clients to reach out to you, find ways to put yourself out into the marketplace. Put content into the marketplace by way of online articles or regular blog posts. That makes it easier for clients to understand who you are and what you have to offer. You can also bring clients to you by directing them to your website for additional content. Some people may claim that outbound connections such as phone calls or newsletters are no longer necessary, but Bob disagrees. He explains why and how those connections can create greater success for you, regardless of the size of your business.
You won’t want to miss these tips as well as the new and upcoming opportunities that Bob is working on, including the Go-Giver Sales Academy online course, where successful consultants like you can learn more about creating the business you’ve been dreaming of. You can hear more about it as well as how to connect with Bob on this episode of the Consulting Success Podcast.
[:19] Meeting Bob Burg, the writer who speaks.
[3:56] The secret behind Bob’s transformation from misery to success.
[5:04] How to avoid the mistake of talking about yourself.
[8:14] The work that turned Bob into a successful speaker.
[9:59] Why people skills make the difference in real success.
[12:00] The introvert advantage in sales.
[14:11] Why and how Bob became a writer who speaks.
[20:34] Dealing with the seemingly endless nos.
[22:55] Providing value makes the money part come easily.
[28:51] How Bob scales his business for success.
[31:00] Connecting with Bob Burg.
Bob Burg
The Go-Giver: A Little Story About a Powerful Business Idea, by Bob Burg ?and John David Mann
Tom Hopkins
Zig Ziglar
National Speakers Association
Endless Referrals, by Bob Burg
The Go-Giver Leader: A Little Story About What Matters Most in Business, by Bob Burg ?and John David Mann
Go-Givers Sell More, by Bob Burg and John David Mann
Go For No — Yes is the Destination, No Is How You Get There, by Richard Fenton ?and Andrea Waltz
Go-Giver Sales Academy
“It’s a lot of work, but if it’s something you love you’re willing to do it.” — Bob Burg
“The best skill you can have is a well-developed and authentic interest in the other person.” — Bob Burg
“You don’t have to enjoy the “nos,” you just have to understand that it’s all part of it.” — Bob Burg
Consulting Sales Systems That Work for Introverts with Bob Burg: Podcast #16 is a post from: Consulting Success
Started reading The Inevitable: 12 Technological Forces that Will Shape Our Future (affiliate link). I am only on page 83, and I have already bought 9 copies for friends. It’s written by Kevin Kelly, co-founder of Wired magazine, and does an amazing job of explaining what artificial intelligence (AI) is, what it is becoming, and… Read More »
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We’re going to talk about how to develop a consulting engagement process. There’s many different ways to go about this, but I want to introduce you to one that is very straightforward yet very powerful. It’s a way that you can start to think about how to deliver your consulting services with a lot more structure.
That structure is not only beneficial for you — because it’s easier for you to start to really not only delegate aspects of the work, but organize really how you deliver, what other people can do, what you should be doing — but you also get a lot more clarity around actually having a process, knowing that when you do this, then next you do that. You can work through it.
The other benefit of this is that as you develop a process that is very clear and straightforward, you’re able to start to see ways to scale it, to scale your consulting business up, to scale the delivery up. That’s very beneficial, because it allows you to run in a much more efficient way and also much more profitable. But the other reason why this is really beneficial is because clients like to see that you have a process.
They want to know that you’re not just doing things off of the seat of your pants, but that you’re bringing a process or a way that you’ve engaged with others and now you’re going to be taking them through.
But giving them that ability to say, “Hey, let’s take a break,” or, “I don’t want to move forward,” helps a lot of them with risk reversal. You’re reversing the risk.
So having a process like one I’m going to share with you developed, that you can use not only for the benefit of your business but to also explain to prospective buyers and clients, is really, really powerful. That’s what we’re going to get into right now.
There’s four parts to creating this process. Let’s just say this is part number one. This is what we call assess. Now, what you’re doing when you are in the assess phase is you’re starting off and you’re assessing the situation.
This is what we often call the discovery offer.
But it’s the first step to really understand what is going on in your client’s organization, what the opportunities are, the threats are, what can be done. It gives you clarity as to how to best move forward through the next stages of the process.
The outcome, the deliverable from this, is really that you are going to put together a high-level plan. And so this would include your recommendations. That’s kind of what the output is from this.
Now, buyers love this because they get a sense of where things are at. The benefit for them, and for you as well when you’re selling it, is that when you have this, when you give them some recommendations, high-level, like, Here’s what I see.
Here’s the next steps, it means that you’re not saying to them, “Hey, this is going to be $100,000 project. We’re going to get into it right away if they invest $100,000 and we’ll kind of figure things out as we go along.” No. Step one of the process is to assess.
That gives you a lot more clarity. That gives the client some recommendations. Then, you can adjust the rest of your service delivery based on what you find here, so you can ensure that it’s much more efficient and effective.
Now, each part of this process can be sold individually, so one after the other. Meaning that … Let’s say your buyer comes in. They start with you at stage number one, they kind of go through the assess phase. If for some reason they decide they don’t want to move forward after that, that’s okay.
Give them that choice, because the reality is most will want to continue working through, because they won’t get all the benefits unless they go through every stage of the process. But giving them that ability to say, “Hey, let’s take a break,” or, “I don’t want to move forward,” helps a lot of them with risk reversal. You’re reversing the risk.
They have a lot less hesitation because they feel like they have much more power in controlling how the process can go, which they can, right? They get to choose. But it works out beneficially for both parties.
Now, the second phase of the process here is what we’d call plan. You might be saying, “Well, you just said plan here. What’s the difference?” The difference is that this is going to be a detailed plan.
This is a detailed plan. This is what they get from this. Think strategic recommendations. Think step by step. In assess, it’s high-level recommendations and a very high-level plan of what should come next. You actually say, “Okay. We’ve done this initial assessment.
Here’s what we know we need to do. Here’s what has to happen for there to be success in this project.” Well, now you actually get into developing the specific, strategic, step-by-step plan of what’s going to happen next.
Next is what we’d call implementation or you can just say implement for short, this is where you actually now take the strategic recommendations from Plan and implement them here. Now, depending on how you structure your service offer, you may be the one actually doing the implementation.
You don’t just put something in place and then you’re finished forever, right? There’s always going to be ways to refine, to improve, to optimize, to make better and better, and so that’s what optimization is all about.
But if you’re like most consultants, you will be guiding or advising the recommendation, so working with the team or the leadership or whoever it is to actually implement upon the recommendation that you develop during your strategic plan.
The final phase here, which is phase four … Which a lot of people don’t often think about, yet it’s really powerful … is what we call … I’m going to write it right here … optimize. If you think about your work, like any work where people are trying to improve performance or trying to make some kind of game, it’s not …
You don’t just put something in place and then you’re finished forever, right? There’s always going to be ways to refine, to improve, to optimize, to make better and better, and so that’s what optimization is all about.
Even though you’ve now implemented upon the initial plan, what’s going to happen is as you implement, you’re going to get some data. You’re going to get feedback from the marketplace or whatever you’re implementing and you’ll know,
Okay. Here’s how we improve, these are the measures of … We’ve hit these levels of success. But it doesn’t mean that you’re done. There’s still going to be more work to do if you want to continue improving upon that or ensuring that you maintain that level of improvement. And so that’s where optimize comes in.
Implement, the output is implementation. In optimize, really what you’re delivering could be things like coaching …
Let’s say ongoing coaching or training. It might be even mentorship. It could be working with teams. There’s a lot of different ways that you can deliver on optimize. But this is usually ongoing or for a set period of longer-term time.
But the other thing with optimize is that in some cases, depending on the size of the project, the project …
Even though this may be the four phases that make up your process, you may find that you’re going kind of back again and working into other areas of the organization or working further, deeper and deeper, along the project lines that you’ve already begun.
Those are the four … One, two, three, four … phases — assess, plan, implement or implementation, and optimize — that you want to work through.
There’s variations to them. Some people might have five or six steps to their overall process, but this is really the base that you can build on.
Proven 4 Stage Consulting Project Process: Video is a post from: Consulting Success
This is a classic framework that Professor Bruce Tuckman developed in the 1960s that describes how groups operate. It’s a linear process that all groups go through to some extent. Forming (people join the team), Storming (often there can be differences in work styles), Norming (group reaches agreement on goals, and mutual accountability), Performing (real… Read More »
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This week I thought a lot about leadership and ran across these leadership quotations. . . What is leadership? “Leadership is influence” – John Maxwell “Motivation is the art of getting people to do what you want them to do because they want to do it.” – Dwight D. Eisenhower Is leadership inherited or learned?… Read More »
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If the top of the CEO ladder doesn’t satisfy like you hoped it would, it’s time to create your own consulting success.
Description:
John Murphy is the man behind John Murphy International, a France-based business that is focused on helping global companies create winning teams. Originally from Dublin, Ireland, John started his business in Ireland 13 years ago and moved to the south of France after realizing that one of the great perks of consulting was that he could base his business anywhere.
Prior to starting his business, John was climbing the ladder in the corporate world. He began as a door-to-door salesman, and progressed to sales manager, sales director, and eventually marketing director before becoming a CEO for a finance company. During this time he recognized that, while the corporate world had been very good to him, the view from the top wasn’t exactly what he thought it was going to be.
Although the leap from the corporate world to independent consulting seems like a daunting one, John says it was made easier because he felt compelled to take the leap. We talk about making the leap, the best place to find clients, and the greatest key to business development growth on the episode of the Consulting Success Podcast with John Murphy.
The corporate world is a secure place to enjoy a career, but for CEOs like John, taking the leap away from the corporate world and into the unknown may be a move that you simply have to make. After working your way to the top, you, like John, may find that there is more you can accomplish with your skills and talents. Two years before he started his own company, John felt that he needed to step away from his secure place in the corporate world and try something new.
Even if there is nothing fundamentally wrong with your current company or organization, many consultants feel at some point that they simply don’t want to remain someone else’s employee indefinitely. John felt that desire to ‘create something for himself.’ He wanted something beyond what the corporate world has to offer, and after a period of time, John Murphy International was born. If you’ve ever felt compelled to leave your successful corporate job and create something new, you’ll want to hear John’s story. Although it seems counterintuitive, he was even willing to leave his job even before his new company was in place and in our conversation he shares why.
Once John Murphy International was established, John needed to find clients. It was at this point when he received a very relevant piece of advice from a friend, who said, “You won’t get business in the places you think you will, and you will get business in very surprising places.” He found out that that was exactly true, and after placing a huge number of sales calls, he secured some of his first work with Johnson & Johnson. His approach was not exactly a scientific one — by simply placing as many calls as he could and asking people if they could recommend him to anyone else, he landed the client that he was looking for.
It may sound too good to be true, but we dug deep into the ways that John found his first clients — 50% of the people that he worked with in the first year were people that he’d never worked with before, and I really wanted to hear John explanation of how that was possible. Many consultants are uncomfortable making the calls, reaching out to potential clients, and doing the follow-up that is necessary for acquiring new work, but, as I’ve said many times before, that is the most essential step to getting more work. John’s story proves what I’ve said to be true — you have to be willing to get out there and make the connections in order to get the work you’ve been dreaming of. By simply increasing the volume of calls, emails, or connections you make, you will be able to secure the work you’ve been seeking.
Simply reaching out to a prospective client once just isn’t good enough. Too many consultants slow their efforts down when they start to feel comfortable with where their company is at, but the minute that you take your foot off the accelerator, you are going to lose the momentum that you’ve worked so hard to build up in your company. On the other hand, if you are willing to make phone call after phone call, email after email, or connection after connection, then you are going to achieve consulting success. John started out 13 years ago, but he says that the methods for securing clients haven’t really changed that much over the years. A consultant who is willing to do the work is going to be a successful consultant.
Referrals come easily when you’re doing good work for your clients. That is the first and key step to getting more referrals for more work. If you maintain the mindset that you are always going to add value to the client that you’re working with, and always do your best work, then you will create a business that clients want to do more business with. The better work you do, and the better you know the company that you’re working for, the easier the referrals will come. John has many insights into the ways that your contributions can add value to any company that you’re working for, starting with looking for opportunities to refer yourself over to various departments within the company. That’s his first suggestion, but be sure to listen for the other ways that you can find and earn referrals with every client you work with.
Often we think of obtaining new clients as the best and only way to grow a business, but in my conversation with John, we unearth the reasons why that mentality is wrong. You won’t want to miss the great discussion we have about the importance of business development growth within the companies that you are already doing business with. These are the companies that you’ve already invested your time and skills in, and by deepening your understanding and relationship with these companies, you’re creating greater value for the company and for yourself.
Before you think about going after new clients, ask yourself what opportunities are available within current or previous clients that you should consider first. Find out where the company is growing and shrinking, opening and closing, reorganizing, restructuring and investing, then use that information to become a more informed advisor to the company and to create more consulting work for yourself. There are undoubtedly already needs within the company that you’re currently working with — taking advantage of the work where you’ve already established a relationship means working smarter and finding more success for yourself.
One of the greatest benefits of being a consultant is the ability to base your business from anywhere in the world. When John realized that he was getting into a bit of a consulting rut in Ireland, he moved his business to the south of France to shake things up. By making a physical change he was inspired to shift his business focus and grow his business the ways he needed to. There were definitely trade-offs that had to be made by moving to another country, but his determination to making this virtual business model work drove him to succeed. The risk was worth the reward as not only did he not lose any clients, he was able to strengthen the working relationship that he had in place with his existing clients. To hear more about how this shift enabled John to grow his business in the ways he wanted, you’ll have to listen to our conversation.
Too often clients resist the suggestions made to them by brilliant and effective consultants like you because they are used to the way things have always been. If you’ve faced rejection from a client — whether it’s your pricing model, how you approach work, or where you are working from — don’t be afraid to push back and remind them why they should put their trust in your new ideas. You can never forget — there is a reason you are the consultant. If you can convince your clients to try new things, you will add value to their business and to the work that you’re doing for them. This approach has worked for John, it’s worked for me, and it can work for you — if you are willing to take the risk.
Staying at the top of your game is essential when perfecting your consulting business. In our conversation, John shares two key ways that he has been able to stay focused on his work. First, remember that a business is a dynamic thing — it’s always changing and growing. If you constantly examine how you are growing and changing with your business, you will be motivated to tweak and change your business to be its best as it grows. Trying new things means that you’re giving the best business possible to your current clients as well as the clients that you will get in the future.
Second, find a mentor. Working by yourself may lull you into a comfortable state while working with a mentor who will challenge you to become more than you currently are is key to staying on top of your game. I’ve worked with John for a number of years, and he shares how the mastermind group that we’ve created has improved his approach to work. He says being challenged has kept him fresh, and he explains why. You’ll want to hear what has worked for him and more, all on this episode of the Consulting Success Podcast with John Murphy.
[:15] Introducing John Murphy, former CEO who felt compelled to leave the corporate world.
[5:58] You may find clients in unexpected places.
[10:35] Discomfort comes with reaching out.
[13:05] Factors that play into getting a good stream of referrals.
[17:13] The smarter approach to business development growth.
[18:15] Working remotely may force you to improve business.
[23:32] Push back when your ideas are rejected.
[25:10] Stay at the top of your game by doing these two things.
“The world needs another consultant like it needs a hole in the head… but there’s always room for a good one.” — John Murphy
“You’re only going to get referrals if you’re doing excellent work with the clients that you’re working with.” — John Murphy
“The more you know about an organization, the more you can help them.” — John Murphy
“There’s a reason you became a consultant.” — Michael Zipursky
From Door to Door Salesman to International Leadership Consulting with John Murphy: Podcast #15 is a post from: Consulting Success
Let’s talk about offers. Far too many consultants don’t make enough offers.
Are you one of them?
Are you finding reasons to delay?
Are you allowing buyers to put you off by saying that they need more time or let’s talk in six weeks or six months or later in the year because whatever, whatever, whatever?
Are you engaging, are you challenging buyers, or are you just letting them off the hook?
Many consultants allow buyers to deal with the problems that they have far longer than should be.
If you really think about it, if you think about why maybe you’re not making enough offers, which also would translate into why you’re not getting enough or as much business as you would like, it’s because you’re not challenging buyers.
You’re letting them off the hook too easily, or you yourself are maybe scared. You have some fear. You are worried about too salesy or being too direct, so you’re not making offers to people.
But here’s the thing, and here’s what’s really important. I believe that you should see if you want to grow and have a really successful thriving consulting business, and that is that you only should make an offer, first of all, and this is what we’re talking about, you’re only making an offer when you really believe that you can help someone.
When you see that they have a problem or they want to achieve something, and then you can help them to get there in a more successful way, a more efficient way, where you can provide real value and results for them. If you can’t, then don’t make an offer, and that’s not what we’re talking about.
We’re not just saying go around making offers to people and being all promotional to the wrong people. What I’m sharing with you is the idea that when you find someone who has a problem and wants a solution and you can offer it, or someone that wants to achieve a certain goal and you can help them to get there, what I’m suggesting to you, my friend, is that it’s your responsibility to help them to do that.
Because if you just allow them to continue on with the same things or doing the same … taking the same steps, just living life the way they’ve been until this point, it means that they’re going to continue having that problem.
Or it means that if you don’t make the offer to them, if you don’t suggest, hey, would it be helpful for you to have this or that or whatever as a next step, then it means that they have to go off and find someone else that can help them. Yet, that other person may not be as skilled or as experienced as you are.
Essentially what you’re doing is you’re allowing this buyer, this perspective client to be underserved or to be served in a way that isn’t that efficient and effective for them by working with someone else. Instead, by you making an offer, you’re able to actually engage with them, start helping them, ensuring that they get the best quality service, the best quality results, and of course, that helps your business, too.
If you’re feeling oh, I don’t want to be too direct. I don’t want to be too salesy. I don’t want to come across as pushy. They told me they need a few more months and you just say yes. No. Challenge them.
You’re doing it in their best interest, not just for you. You want to ask them questions like, well, listen, I understand if you need some time to think about it, but you did just tell me this is priority number one for you or just shared with me that every week that goes by you’re leaving $25,000 on the table or your company’s going to lose a million dollars or you have this competitor coming in and they’re going to grab more market share.
Do you think it really is okay for you and for the business to wait another three months, or would it make sense to find something that we could do to start moving you forward or making progress in the right direction?
Challenge them. Engage with them in a professional way. Look for ways to serve them. Look for ways to add value, and make an offer if you can add value. Not only will it help you to grow your business significantly, but it will help your clients and they’ll appreciate you for that.
Most people know they need to do something, but they don’t do it because they’re used to not doing things. They’re used to hesitating or they’re overthinking.
But instead, if you can show them a first step that they can take that will help them to move forward, to get a result that they want or at least start to get that result, start to see some progress, they’ll really appreciate you for that. But you need to have the confidence to suggest that to them.
My suggestion here today humbly is to put on your adult shoes, even though you might not be comfortable with it. Even though you might find reasons to hesitate or there might be some fear, for whatever reason, just strap those shoes on and get out there.
Have those conversations. Find ways to add value, and make offers. Then don’t be afraid to challenge buyers when needed to really see if what they are thinking is actually the best thing for them, or if there’s another step that might be a better step that they could take that’s going to get them a result and help them see progress faster.
The Power of Making More Consulting Offers: Video is a post from: Consulting Success
What does good look like? All thoughtful business people are curious what good presentations look like. Here are a dozen+ presentations (freely and publicly available online) from Boston Consulting Group. These BCG decks may not be in your industry, or your function, but they show a lot of rigor, creativity, and lots of logical structuring. This… Read More »
The post BCG Presentations: A Baker’s Dozen appeared first on Consultant's Mind.
Consultants are very visual people, because our clients are. Executives like to seem complex ideas and data simplified, so it is easy to understand and act upon. Clients pay to see simplicity. Simplicity is difficult to do well. Infographics are fun. Honestly, this is now how management consultants typically convey data to $$ paying clients, but… Read More »
The post Visual Capitalist: Great Infographics appeared first on Consultant's Mind.
Case competitions are great fun. I did 9 of them during my MBA days. It’s a chance for you to compete with students and see how good you are at ‘cracking the case’. The format differs considerably: Some competitions last 3-4 hours, while others can last a month Some are among several schools, while others… Read More »
The post What are case competitions? appeared first on Consultant's Mind.
Consulting success will be yours when you start taking greater risks and stop reinventing the wheel with every new client that comes along.
David Baker is a consultant who has been working with marketing firms and advertising agencies since the late 1980s. He is an author, a speaker, and an adviser who helps companies make high-quality business decisions. David focuses on finances, benchmarking, performance, and positioning of firms, as well as PR, advertising, and more. Having spent the majority of his childhood living in a Mayan Indian tribe, David didn’t attend formal school until he was nearly 18 years old. It was during graduate school where he was studying theology and language that he (somewhat naively) decided that he could produce better ads than the ones he was seeing in newspapers. He began consulting peers on the side and realized that he wanted to pursue consulting as a full-time career.
Once he discovered that he had the skills he needed for success, his career took off and hasn’t stopped since. In our conversation, David shares the mistakes he made in the early days of his career, how he has achieved the perfect work-life balance, and the number one error that he wishes consultants would stop making. With over three decades of experience under his belt, he is definitely a consulting and business expert, and you won’t want to miss the insights he shares on this on this episode of the Consulting Success Podcast.
For many of today’s successful consultants, taking the leap from a secure paycheck to an independent consulting business can be a very scary one. David knew all about that reality — and the potential unreliability of consulting gigs — when he first started out. He decided to take on a second full-time job to help buffer his potential risk while getting his consulting business up and running. By doing this he was guaranteed a way to still feed his family without having to deal with potential pressure from the economy to lower his consulting work. It only took him a few months, but the security that the second job offered him was priceless as he was starting out. By having an extra stream of income, David was able to only take on consulting clients that he really wanted to work with, and he didn’t have to compromise his pricing, either.
You may find yourself in a similar situation where you are considering negotiating on your pricing so that you can secure more work, but David says, don’t! There are endless opportunities for growth within the consulting field, and that growth can be used to your advantage. When business slows, you may be tempted to lower your prices or take on work from a less-than-ideal client, but that will undoubtedly lead to a constant stream of compromises.
In our conversation, David shares several tips to help you avoid making these kinds of detrimental compromises. First, you have to decide how big you want your firm to be. Don’t let the marketplace decide that for you, and don’t grow or shrink based on the marketplace either. Second, you have to size your firm in proportion to how many opportunities you regularly encounter. You should position yourself in such a way that you can routinely turn down work, and be more selective about the kind of work that you are willing to take on. This will put you in a position to make the best choices for your firm. You’ll want to listen as David explains why this approach will give you greater success over the long run.
Too many entrepreneurs approach their business as a side job. While it’s true that some people are simply more success-minded than others, if you possess the number one qualities that David outlines in our conversation, you will be more successful than your peers and competitors. But first, you can determine if your business is headed toward success by truthfully examining your income levels. A successful entrepreneurial enterprise yields profit consistently, while those who find that they are constantly having cash flow problems are, in reality, the ones that are having legitimate business problems.
In David’s fifth and newest book The Business of Expertise: How Entrepreneurial Experts Conver Insight to Impact + Wealth, David conducted a series of surveys with over 1,000 entrepreneurs and found that they all had only one major characteristic in common — their willingness to take risks. In our conversation, we discuss the payoff that comes with taking risks as your consulting business grows.
Many consultants are afraid to make decisions, but you can’t let this happen to you. By looking at the negatives before the positives in the risks that you may encounter, you are only going to paralyze your progress. David recognizes that the only safe way to never make any mistakes is to never make any decisions, but that will hardly create a thriving consulting business. Although the potential for taking risks may compound as your company grows, so will the rewards. Your employees will surely be forgiving of the bad decisions you make, but they won’t be forgiving if you never make any decisions at all. Anytime you are faced with a decision to make — whether it be to add a partner or take on a new client — weigh your options quickly, pull the trigger, and don’t look back.
If you’re like David, you may not remember the good choices that you’ve made nearly as well as you remember the mistakes you’ve made along the way. But don’t worry — that is a good thing. The lessons you learn from your poor choices are the ones that are going to teach you how to be a better consultant. David shares several of the mistakes that he made — some of which prompted the writing of his fourth book Managing (Right) for the First Time — and those that have allowed him to achieve the level of consulting success that he enjoys today.
Every entrepreneur and consultant dream of achieving the right size business that also allows for perfect work-life balance. Despite years of pressure to grow larger, David resisted this pressure and instead found ways to make his one-person company work harder for him. He details the formula that he uses to grow his business, starting with his weekly content-filled email, which reaches an audience of 30,000 readers and potential clients. His decision to produce content consistently has been the biggest contributor to his company’s success. He admits that he’s not much of an extrovert or a networker, but he has still managed to find a very successful way to reach his clients that fits his personality perfectly.
David has been in the marketing and consulting industry since the late ’80s, and he has seen consultants make plenty of mistakes along the way. The biggest mistake is watching consultants consistently solve clients problems on an individual basis. When a client approaches you with what seems to be a unique problem, you have to take a step back and recognize that this is a problem that many consultants have experienced before and that many more will face in the future. If you can find a way to solve a client’s problem on a greater scale, you can increase the demand for your expertise and also reduce your future workload. David also shares the easy fix to the second biggest problem he has seen in the consulting world, and it starts with increasing your confidence level and perfecting your positioning in your marketplace. A successful consultant doesn’t spin his wheels — he learns from his mistakes and propels himself from there to success. You can hear all about David’s tips and advice for starting out right and achieving greater success on this episode of the Consulting Success Podcast.
[:19] Introduction of David Baker — current consultant, former Mayan Indian tribe dweller.
[6:45] Why you can’t afford to compromise your standard of work.
[10:07] Successful entrepreneurs have these key qualities in common.
[12:31] Taking risks will compound your consulting success.
[16:37] The lessons learned that allow David now to serve his clients so well.
[20:27] Finding the right sized business means resisting pressure and producing content.
[24:27] David’s earliest steps to consulting success.
[26:20] Avoid these common consulting mistakes, starting with increasing your confidence level.
[31:14] How you can connect with David Baker.
Expertise.is
The Business of Expertise: How Entrepreneurial Experts Convert Insight to Impact + Wealth, by David Baker
Managing (Right) for the First Time, by David Baker
“Decide how big a firm you want to be, and don’t let the marketplace determine that for you.” — David Baker
“Too many people in business treat it like a hobby.” — Michael Zipursky
“An entrepreneurial enterprise yields profit consistently.” — David Baker
“At some point, you should just stop listening to other people.” — David Baker
Taking Greater Risks to Enjoy Greater Rewards with David Baker: Podcast #14 is a post from: Consulting Success
The S&P index is up 16%+ year-to-date. A good thing right? One fund manager recently commented that investors have never been so grumpy, while making great returns. This is the “Wall of Worry” – so many things to worry about, which oddly, have not affected the markets’ willingness to go higher. Yes, people are getting richer,… Read More »
The post Jargon: Wall of Worry appeared first on Consultant's Mind.
Transcript:
I was recently at an event with a bunch of clients, and we were talking about the importance of having control, guiding a conversation when you’re speaking with a buyer.
This is an area that a lot of consultants have a challenge with. They are concerned about being too direct or coming across as rude or pushy or sales-y.
And yet, an example that one of our clients, Mike G., gave which really resonated and so I thought I would share it with you and just kind of talk about this a little bit because I know it can affect so many people.
The example that Mike gave was imagine that you are hiring someone for your company. So you are going to conduct the interview. Now, when you’re conducting that interview, do you let the employee just run wild and guide the conversation or prospective employee?
Or, are you the one that asks certain questions that are important to get answers to? And are you guiding that conversation? Well of course you are. And why are you doing that? Because you’re coming from a place of authority. You are the expert deciding on whether or not this person, this prospective employee would be a good fit for your organization.
Don’t be shy to guide the conversation to take the lead, to come in there with your authority and expertise at the front because that’s what you’re doing. You’re an expert.
Well having a conversation with a buyer or prospective buyer isn’t that different, right? You are a peer to them. You are an expert and an authority, and so your role in that conversation is to ask a lot of questions to better understand what they’re going through to identify what they value, what their challenges are, what the potential opportunity is for a solution and what that would mean for their business.
And so you’re going to have a whole bunch of different questions that are important for you to ask so that you can then determine and qualify, “Is this an actual [inaudible 00:01:58] client? Is this somebody that I can really serve and help and make a meaningful change or impact for?”
So, if you’re not asking those questions, if you’re being too hesitant and you’re letting the buyer really kind of run the interview or the conversation, you’re not going to get the information that you need. You’re going to leave that meeting wondering, “Okay. I have a sense here, but it actually … .” Like as you think about it, there’ll be a whole bunch of other questions and information that you still will lack because you didn’t go in there and guide and run the conversation, asking the questions that are important for you to ask.
So I want to share that as a reminder to you that when you’re speaking with a prospective buyer and client, that you know … that you should know … what questions are important to get answers to. Don’t be shy to ask those questions.
Don’t be shy to guide the conversation to take the lead, to come in there with your authority and expertise at the front because that’s what you’re doing. You’re an expert.
If you’re not an expert, if you’re not an authority, if you don’t really have value that you can deliver, if you can’t help the person to achieve the outcome that they’re looking for, then there’s no point in having that conversation. You can end that conversation quite quickly.
But if you really can add value, then it’s important. It’s imperative that you do ask those questions and don’t be afraid of being sales-y. Buyers will appreciate that you are guiding the conversation, that you are leading them, because that’s what they need. Right?
They’re looking for help. They’re looking to have a change, to solve a problem or to reach a specific result that is important for them. And so if you can help them to achieve that, they’re going to appreciate you taking the lead and guiding the conversation. So don’t be shy. It can really benefit you.
How to Guide an Effective Conversation with Buyers: Video is a post from: Consulting Success
I wrote this blog post almost 5 years ago after the Sandy Hook mass shooting of school children. Remember that? Horror. Additional comments in red color, but the sad fact remains that America has the same senseless gun violence as it had then. Just in the last month, shooting in Las Vegas and shooting at… Read More »
The post US gun violence: Yes, we have a problem appeared first on Consultant's Mind.
Set yourself apart from the pack, protect your success, and pick clients you want to work with, all with the advice of Facebook ads expert Nicholas Kusmich.
Nicholas started out as a pastor who was committed to not relying on his congregation for his salary. That commitment required a side hustle of some sort, which is when Nicholas turned to the internet marketing world. When he started using Facebook as a major advertising platform for his work, he quickly became one of the most recognized agencies/consulting businesses in the market. But that was just the beginning. You won’t want to miss the story of the million-dollar road that this side hustle has taken Nicholas down, on this episode of the Consulting Success Podcast.
One of the greatest keys to consulting success that I constantly emphasize is the absolute importance of specializing. It isn’t enough to simply tell people that are you are a consultant for any industry — you have to find your niche and make it work for you. Nicholas learned early in his career that “everyone and their mother” was a generic digital marketing consultant. It just wasn’t enough for him to follow that same overly worn path — and it won’t be enough for you, either. You have to pinpoint what exactly you are going to specialize in and confidently move forward from there.
This can seem like a daunting task, and you may assume that everyone has the same skills as you. But you can’t let those thoughts overwhelm you. With a bit of research and perhaps some luck, you may discover that you already have in your possession a specialized skill that is just waiting to be exposed. Discovering this skill set and exploiting it in your favor is what will set you apart as an expert in your industry.
For Nicholas that opportunity came at a convention in 2014, where he discovered that he already had a skill that could lend itself well in the marketplace. He knew exactly how to make a profit from Facebook ads, while everyone around him was struggling to figure out what he already knew. By recognizing this, Nicholas carved out a niche for himself, which set him apart from his competition and dramatically increased the demand for his skills. By focusing solely on his niche, Nicholas elevated through the ranks and brought his company to where it is today. As you listen to the story he shares of how he found success, you’ll see how the same approach to specializing can work for you too.
At times it may seem that you are one of dozens of consultants offering the same skills to an over saturated market. Nicholas has two tips to help pinpoint your area of specialization.
First, recognize an underserved segment of your marketplace. If you are a consultant that is often “scratching an itch,” meaning that you’ve already figured out what needs are present, chances are you are also already looking for a solution. Once you know who you need to target, the next step will come easily.
Second, target an affluent segment of your target market. You will find greater success if you can identify the thriving companies that are in need of your specialty. By seeking out these companies you will create for yourself a greater opportunity for success within the underserved segment of your marketplace.
The greatest way to find this kind of success is to keep your finger on the pulse of your industry. By tapping into your already existing network, you’ll be able to easily recognize an under served market. Within your network, there are needs that are waiting to be filled, and you can discover what these needs are in a variety of ways. Compile a list of the best and worst consultants your clients have ever worked with. Poll people within your network to gather opinions on their experiences, good or bad, to figure out what needs they still have that are waiting to be met. Look for commonalities between favorite clients, whether it be the particular business, size of a client’s business, or the products they offer. Look at clients that have been the worst to work with and take note of what common characteristics they have. Each of these steps will help you to zero in on your new niche.
Even after you have taken these steps, you may still find that your market is saturated with overgeneralized specialists. But there is still a way that you can position yourself so that it sets you apart from your competitors. Just as Nicholas shifted his expertise from general marketing consultant to Facebook strategist, you can find a way to stand out in your crowd. Be sure to listen to the additional tips that Nicholas shares to find a way to position yourself so that people see you as the only person who does what you do.
Your business will thrive if you can find a way to set yourself apart from the crowd. You know that there is no replacement for the quality of your work. As you create value for your clients, your work will speak for itself. Once you have those results, you have to position yourself so that what you do appears to be very different from what everyone else is doing.
Nicholas shares the angle that he took to position himself as the Facebook ads expert. Rather than focusing on tactics like everyone else around him, he set his focus on strategy. He shares the three steps that successful companies take to set themselves apart in their marketplace — the positioning, the promise, and the big idea. He shares the inspiring story of P90X — the way they have used this approach to become the leader in the fitness industry is the same technique you can use to set yourself apart as well.
As a successful consultant, it is essential that you know what your promise is in the marketplace, that you know what your position is in the marketplace, and what your big idea is in the marketplace that has set you apart as the true expert. It worked for Nicholas, and it will work for you, too. All of the details on how to make it happen for you are in this inspiring episode of the Consulting Success Podcast.
When you are first starting out, the highest possible dollar amount may be the milestone of success that you are working toward. However, as your business continues to grow, if you keep working toward dollar signs only, you are going to find yourself working for your business, instead of making your business to work for your lifestyle. Chances are that isn’t why you decided to become a consultant in the first place. At some point, whether it be by reaching a salary goal, obtaining expensive possessions, or even the birth of a child, your measure of true success will shift. Then you will have to protect your success by the choices that you make.
Nicholas shares the measures he has taken to protect his success and optimize his business so that it best aligned with his personal values — and he calls this process “netting up.” For Nicholas, this means a few things. First, it means clearly identifying and only working with clients that he truly enjoys working with. Earning a big paycheck isn’t the only criteria for working with a client anymore — now you can ask yourself if you actually want to spend time with each client that comes along.
Second, increasing your prices is a well-earned mark of success. As you achieve higher levels of success, you will have the luxury of tailoring your prices to ensure that you’re working only with the quality of clients you want to work with. You may reduce your number of clients but as a reward, you are also increasing the quality of each business transaction.
Third, netting up means keeping your staff at a manageable size. This may mean letting people go, but it also means identifying key responsibilities and roles in your business. Rather than supporting full-time employees, you can utilize contractors to fill those gaps and reduce the number of staff that you are responsible for managing.
Fourth, protect your success by putting standard operating procedures in place and making them work for you. If there are ways that you can automate, optimize, or delegate the work that your business requires, take the time to make it happen.
Fifth, make intentional and clear decisions about your boundaries. When are you willing to do extra work? Or answer the phone on a Friday afternoon at 4:30? Or come in over the weekend? By setting boundaries, you can lift the burden of your work and protect your success.
Enjoying this kind of success may sound too good to be true, but if you implement the ideas that Nicholas has shared here, you will soon be enjoying this same level of consulting success as he is.
Every consultant struggles to correctly price work. For Nicholas, pricing models have evolved over time for both agency pricing and consulting pricing. In our conversation he shares specific dollar amounts that he currently charges, and why the numbers are all at least five digits. You’ll definitely want to listen to this segment of the episode to hear the details on dollar amounts, where he started, and how he decided to switch to a percentage-of-revenue pricing model.
One key point that Nicholas shares in our money talk is that you don’t have to spend more time on projects in order to charge more money. By strategically optimizing your company’s approach to fees and providing your clients with valuable results, you will be able to significantly increase your company’s revenue. “We’re not raising fees arbitrarily,” Nicholas says of their pricing model. “We’re creating a win-win scenario that makes sense for everyone involved.” Both you and your client will benefit when you charge higher fees, and Nicholas explains multiple reasons why that is, starting with accountability. Be sure to listen to this episode of the Consulting Success Podcast to hear even more reasons why you can feel about confident charging your clients higher fees than you currently are.
As you achieve greater consulting success, you will have the option of selecting which clients you want to work with. But how? Performing a marketing audit is the first critical step to determining whether or not a company will make a good fit as your next client. When considering each potential project, it is essential to examine the following — what kind of processes are already in place? What are the company numbers behind the work? Is the company in a place where they can implement your ideas to make changes for their business? If you get the answers you are looking for, then you’ve found your next client. If not, it’s time to move on to the next opportunity, no matter how big the paycheck you’re leaving behind. In the long run, your company will benefit more by only securing the kind of work that is a perfect fit for you.
Nicholas wrote Give: The Ultimate Guide to Using Facebook Advertising to Generate More Leads, More Clients, and Massive ROI after someone told him that every credible person is the author of a book. He took that advice to heart, and the impact of that decision on his business has been incredible — even though he likens writing a book to passing a kidney stone. You can get a free copy of his book at giveinfo.com. If you’re considering writing a book, you’ll want to hear what the process was like for him, and how it has benefitted his company so far.
[:24] From pastor side hustle to full time consultant, Nicholas shares his path to consulting success.
[4:57] Why focus solely on Facebook ads?
[7:17] Finding your niche starts with pinpointing an underserved market.
[13:10] Separate yourself from the pack by focusing on this.
[20:53] What does success mean to Nicholas Kusmich?
[24:34] Steps for protecting your success.
[29:39] Pricing models that work.
[33:20] Screening companies for the best fit.
[35:52] The impact of authoring Give.
[39:10] How you can connect with NIcholas Kusmich.
Nicholas Kusmich
Blue Ocean Strategy: How to Create Uncontested Market Space and Make Competition Irrelevant, by W. Chan Kim and Renee Mauborgne
Give: The Ultimate Guide to Using Facebook Advertising to Generate More Leads, More Clients, and Massive ROI by Nicholas Kusmich
givebook.info
“Position what you do in a way that it is unique from all of your competitors.” — Nicholas Kusmich
“I built a business to revolve around my lifestyle, not a lifestyle to revolve around my business.” — Nicholas Kusmich
“Someone told me every credible person is an author of a book, and it seemed reasonable to me.” — Nicholas Kusmich
How Nicholas Kusmich Leaped from a $30,000 Salary to a $2 Million Income Via Facebook: Podcast #13 is a post from: Consulting Success
This 21 letter hyphenated-phrase generates $billions of management consulting work. With M&A booming the last few years, it’s no surprise that companies need lots of post-deal support. Whether a company hire outsiders to help or not, post-merger integration (PMI) is needed with every part of the business. Yes, every part – sales, marketing, finance, IT, HR, manufacturing… Read More »
The post What is post-merger integration? appeared first on Consultant's Mind.
Michael’s new book, The Elite Consulting Mind, has just been published.
It’s available at a significant discount on Amazon in paperback and Kindle here: GET THE BOOK
Michael explains why he wrote the book and what it’s all about…
Get the Book (Discounted Price)
Whether you’re just getting into consulting or you’re a seasoned consulting veteran but aren’t experiencing the level of success and results you truly desire, this book offers you the advantage you need.
Michael Zipursky, CEO of ConsultingSuccess.com and coach to elite consultants, has coached and trained more than 6000 consultants from around the world. In this book, Michael identifies the most significant factor in your success: your mindset.
He shares with you the principles used by elite consultants that will help you overcome challenges, remove obstacles, and grow your business significantly, including:
By applying these proven mindset shifts and the principles that Michael shares with you in The Elite Consulting Mind, you can achieve meaningful, even limitless, success in your consulting business.
You can get the book at a significant discount on Amazon here: GET THE BOOK
Michael’s New Book: The Elite Consulting Mind is a post from: Consulting Success
Thought-provoking. I first read about the “elephant chart” in Edward Luce’s The Retreat of Western Liberalism (affiliate link), where the author explained how income inequality was a key factor in the global rise of protectionism and angry populism. Surprisingly, the middle class of rich OECD countries were the one who felt disenfranchised, left behind, and generally unloved.… Read More »
The post What is the elephant chart? appeared first on Consultant's Mind.
Pricing projects based on the value they deliver — instead of the time you spend on them — will allow you to increase your fees.
Adam started out as an electrical apprentice while in college pursuing an electrical engineering degree. After 20 years in construction management, he decided to make the leap to consulting, as a way to give back to the construction and contracting community. He attributes his decision to make this transition into consulting, in part, to The Consulting Success System — How to Become a Successful Consultant. Adam has now been growing Ascent Consulting for three years. He calls these years a time of accelerated growth, a greater depth of understanding and a time to hone his skills of understanding as a consultant deliver and sell value and deliver top-quality projects to his clients. On this episode of The Consulting Success Podcast you’ll learn how to effectively grow your business in your area of expertise, how to transition from fee-based to a value-based pricing, and how to recognize when it’s time to start sharing your workload with employees so that you can continue focusing on the work that you do best.
Successful consultants like Adam Cooper have been able to successfully navigate the path to consulting success by taking advantage of The Consulting Success System — How to Become a Successful Consultant, which you can learn more about here on the Consulting Success website. Adam is one of over 5,000 consultants around the world that have used our products to land more clients, earn a greater income, and streamline their consulting businesses to enjoy more time-off. Adam claims that when he started out, he didn’t know exactly what he was supposed to be doing or how he was going to do it. By taking advantage of our system and coaching program he was able to establish his path, improve his proposals, and get an advantageous head start to his consulting business. You can find the link to The Consulting Success System below, and learn more about how this system can help you take your consulting business to the next level.
Prior to starting Ascent Consulting, Adam worked as a project manager for several large national construction companies throughout the United States. He was responsible for managing materials, labor, subcontractors, budgets, and more, but after 20 years in the construction business, he decided that it was time to make a change. Two of the greatest challenges that he initially faced as a new consultant were learning how to sell himself to clients, and how to price his work. Pricing is often one of the greatest hurdles that consultants have to overcome. Initially you may find yourself, like Adam, pricing out your time, rather than the value that your work is bringing to your clients. You’ll want to listen to Adam’s story as he explains how he figured out the best way to make the shift from time-based to value-based pricing.
One of the first things he did to help overcome this hurdle and correctly price his work was to take advantage of the Accelerator Coaching Program that is available here on the Consulting Success website. He also read books including The Consulting Bible, that helped him learn how to sell value instead of time, and how to have sales and value-based conversations with clients upfront. Early on, Adam would have conversations with his clients based on the budget that they had, and then create an appropriately sized project from there. Now he knows that the first conversation he needs to have with his clients is what kind of value they will gain by taking on a project, and then to proceed from there to structure a deal that will deliver the value that they are seeking. Listen to our conversation to hear more about how you can make this approach work for you, too.
When Adam wanted to start the value-based pricing model, he didn’t know exactly how to make it work best for him. He was reading consulting books and taking consulting courses, but he still had a lot to learn. He was getting used to hearing “no,” a lot. Adam realized he had to learn how to price his work in a way that was fair to his clients, and made sense for him as the consultant.
It is also essential to develop a working relationship with your clients. Assessment projects and limited-scope projects are a great way to build their trust and confidence in the work that you can do for them. You can start out with assessment projects, which might be worth $4,000 to $6,000. Next you can offer limited-scope projects, which can be worth up to $30,000 or $40,000. These smaller projects are the ones that build a foundation of trust and greater confidence with your clients. They will see the value that your work is bringing to their company through increased sales opportunities, better employee morale, increased profitability, or well-designed marketing. The value of your contributions to their organization will be apparent in these smaller projects, and those small projects will lead to the bigger six-figure projects.
It can be extremely discouraging for any consultant to hear the word “no,” but getting rejected once, twice, or even a dozen times, is not a valid excuse for giving up. Adam shares how he turns those rejections into learning opportunities, starting with going back to the businesses and asking them what he can do differently next time. An initial rejection from a company does not always mean that they have no interest in doing any business with you ever again. Often it simply means that something needs to be reworked so that things makes better sense for your client. You’ll want to hear how exactly he forms his questions so that he can improve his proposal and approach, to turn a rejection into another successful project.
Another essential tip to helping yourself through hearing the ‘nos,’ is to surround yourself with people who want to see you be successful. If you are truly committed to switching over to value-based pricing, you have to take the time to figure out exactly how it will work for you. Adam explains that he wasn’t willing to give up, but that he needed a support system to help him get over this steep learning curve. You’ll probably recognize at least one of the names that he mentions in the network of colleagues and friends that helped him get the success he was looking for.
As your business grows, you will have to decide how much time you want to commit yourself to getting the work done. Chances are you didn’t leave a 40-hour workload behind to take on a 60-hour workload in your consulting business. As your projects and clients increase, it may be worth it to bring on employees to help lighten your task list, and help your business grow. Just nine months into getting his business up and running, Adam decided to bring additional help on to help him with the ever-increasing work that he was facing. Ascent Consulting is now a business of three, and Adam explains the various ways that his staff help him get his work done and his clients satisfied. He also shares two ways that he knew it was time to bring in help.
First, maintain a sense of scale-ability. You have to be realistic about the vision that you have for your consulting business, and your ability to get it there yourself. Adam knew that his company would only be able to grow so big if he kept working at it alone. For him, that was when it was time to bring in additional help. If you want to take on bigger and better projects than you can handle independently, then it will be worth it to increase your staff size so that your business dreams can be realized.
Second, Adam refers to an exercise that he and I worked on together, to help him identify the most valuable activities that he could be focusing on. He refers to it as the ‘10s’ activity. If you break down all of the tasks that must be completed in your business into their dollar value, you will see that some tasks are more valuable than others. Tasks that are worth $10 or $100 are the ones that can be delegated to someone else, so that you can focus on the tasks that are worth $1,000, $10,000, or more. By freeing up your schedule to dedicate more time to the most valuable tasks, you are taking a great step toward securing your company’s greatest success. If you are trying to convince yourself that you can do everything in your business by yourself but are constantly drowning in menial tasks, you will want to be sure to listen to Adam as he details how this exercise has worked for him in finding greater success at Ascent Consulting.
Every consultant wants to get their business to the point that they can enjoy some down time, and on this episode of The Consulting Success Podcast, you’ll hear a variety of ways that Adam has made sure to take care of himself. From running and golfing to updating his website just for fun, Adam seems to have found the way to maximize his work-life balance. But he also shares great tips for turning work into pleasure by incorporating networking and relationship building into fun, starting with a monthly poker night with his clients. If that sounds like the kind of relationships that you are aiming to build with your clients, then you won’t want to miss out on his tips for scheduling time for fun. You’ll hear all about this and more on this episode of The Consulting Success Podcast with Adam Cooper.
[:23] An introduction of Adam and how he transitioned from project manager to consulting.
[3:45] Adam’s greatest challenge, starting out, began with pricing his work.
[6:34] A breakdown of time vs. value pricing structures.
[8:02] Before you land a six-figure project, expect to hear a lot of ‘nos.’
[12:38] At what point should you bring additional help into your business?
[17:14] Betting on a work-life balance.
[19:20] How you can learn more about Ascent Consulting.
Ascent Consulting
The Consulting Success System 2.0 — How to Become a Successful Consultant
Accelerator Coaching
The Consulting Bible: Everything You Need to Know to Create and Expand a Seven-Figure Consulting Firm, by Alan Weiss
Hubspot
“I had to learn how to be fair with a client, and price projects in a way that was fair to them and made sense for me.” — Adam Cooper
“A ‘no’ for me means I’ve got something more to learn, and I’ve got to go back and try again.” — Adam Cooper
“I found success because I was really committed to the process, and to the end result.” — Adam Cooper
“The consulting business is all about relationships.” — Michael Zipursky
Landing Your Next Six-Figure Project with Adam Cooper: Podcast #12 is a post from: Consulting Success
