Taxes: A Fine Mess (T.R.Reid)

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Michael Zipursky on Business Innovators Network

Michael was recently featured on the Business Innovators Network, which you can listen to here: Michael Zipursky on Business Innovators Network  To acheive true success, there are two components: confidence and competence. You need to know you can do something — and then you need to do it, which is what gives you confidence. Once you know how to do something and you do it, then you feel confident. When you put those two together, that’s what creates […]

Michael Zipursky on Business Innovators Network is a post from: Consulting Success

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Attracting High-Value Clients In One Vital Step: Podcast #29

From the The Elite Consulting Mind, a look into the reasons why you can’t wait for perfection to take action. Description: Today I’m sharing another chapter from my newest book The Elite Consulting Mind: 16 Proven Mindsets to Attract More Clients, Increase Your Income and Achieve Meaningful Success. This book is full of principles — all proven by elite consultants — that you can use to overcome challenges, remove obstacles, and grow your business significantly. […]

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Productivity Boost for Consultants

Transcript Hey, it’s Michael Zipursky from ConsultingSuccess.com. Hope you’re having a wonderful day. And today, I want to share with you one step that I’ve taken to significant increase my productivity, one step that’s allowed me to build multiple businesses, generate millions of dollars, write several books, hundreds of articles, work with clients all around the world, and still enjoy a lot of freedom, a lot of time to travel, a lot of time with […]

Productivity Boost for Consultants is a post from: Consulting Success

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Securing $20,000 Speaking Engagements with Chester Elton: Podcast #28

How to leverage your writing, speaking, and training expertise to increase your consulting fees. Description: I’m very pleased to be joined today by Chester Elton, a recognized expert in business and leadership. Chester has worked together with his partner, Adrian Gostick, for over 20 years to create networks where people feel engaged, enabled, and energized. They are the authors of several leadership books, including the newly released The Best Team Wins: The New Science of […]

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The Mindset Behind Success: Michael Zipursky on Conscious Millionaire Podcast

Michael was recently featured on the Conscious Millionaire Podcast, which you can listen to here: Conscious Millionaire Podcast #34 — Michael Zipursky: The Mindset Behind Success Getting to your first million cannot be done unless you have the right mindset behind success. Your mindset — how you approach your business, your clients, and your projects — determines how far you will go. I recently talked with J V Crum III, the host of Conscious Millionaire Podcast, to […]

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Recruiters speak: 14 things all college graduates need to know

At the Goizueta Business School we offer a 3 week business boot camp for non-business majors here. The idea goes that there are a few dozen core business concepts that any graduate should know (e.g., Assets = Liabilities + Equity).  In the spirit of putting together a rigorous, and practical program, I reached out to a […]

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7 Questions To Ask Yourself About Your Commitment To Success with Jon DeWaal: Podcast #27

Achieving real consulting success starts with your discipline, your conversations, and your commitment to making positive change.

Description:

In today’s episode, I’m joined by Jon DeWaal, a life transition specialist who helps people work through the personal side effects of making major life transitions. He describes his work as counseling, coaching, career counseling, and spiritual direction, all rolled into one. Jon has joined me today to discuss the questions you can ask yourself about your level of discipline, commitment to success, and ability to affect meaningful change in your growing consulting business. We examine the need to make changes in your business before you hit the bottom, the importance of discipline and conversations, and the difference between consultants who wish they could get things done and the ones who are willing to put in the work to make things happen, all on this episode of The Consulting Success Podcast with Jon DeWaal.

Writing The Best Story For Your Life

It took falling off a roof to make Jon realize that he wasn’t living the life he wanted.

Fresh out of college, Jon had spent four years building up a business as an independent contractor when his life suddenly — and unexpectedly — started down a new path. After the fall, Jon found himself lying in a hospital bed examining his life situation. He reluctantly and painfully admitting that he no longer wanted to do the same work he had been doing, and a new chapter began. He started exploring different options with a close friend and mentor, and after realizing that he was part of a story that he no longer wanted to be in, Jon knew that change was on the horizon.

Once he started contemplating the stories that he did want to see in his future, Jon realized that what he wanted more than anything was to make a meaningful impact on the world. More so than his potential house or salary size, Jon wondered what it would look like to leave a mark on a person. To use his gifts and strengths on their behalf, and to become a force that provoked with really good questions, a strong sense of presence, and a source of invitation — to help others see a different story for their personal and professional future.

There is a good chance that you became a consultant because you have found yourself at a similar crossroads in your career. Taking the leap into consultancy might have meant a major shift in your life story, as well. If so, you’ll want to listen on to hear more about the success that Jon found once he began pursuing his new life dream.

Main Challenges of Business Owners

Every business owner is faced with a barrage of challenges, questions, and problems. The first challenge that Jon admits to dealing with, even with his own work, is the feeling of never spending enough time working on your business. Instead, business owners often find themselves down in the trenches doing work for the business. Too often, business owners haven’t built boundaries for themselves. They don’t have a clear focus on the direction that they want their business to go, and that can cause major problems with the growth of a company.

Jon shares an example of a small company in Seattle that quickly grew from $250,000 to over $1 million in revenue. Because they weren’t adequately prepared for this growth, too much of their time was spent in reactive mode — putting out fires — and they needed the guidance of someone like Jon to help them refocus and move forward with their work. He asks deep and meaningful questions while helping businesses through this significant growth transition, including,

“Who are you now as a business?”

“What does it mean to create space and time to lead this organization differently?”

These are not questions that can be answered, or acted upon, easily, but they are questions that you need to ask yourself. Examining your company’s weaknesses and identifying areas of needed growth is essential to the health of your business. There has to be dedicated space within each week, month, and year in order to effectively lead an organization rather than just stay in it day after day. Some of these ideas may seem new and overwhelming as your business starts to grow up, but taking the time to answer these questions and effect meaningful change in your business will offer you tremendous rewards.

Many of Jon’s clients feel bombarded with the daily work, projects, and emergencies that every consultant faces — delivering on client projects, handling personal and professional situations and balancing a busy work schedule. There never seems to be enough time to dedicate productive time to work on the business, rather than just working in it. Does this sound familiar to you?

The Number One Reason You Aren’t Focused

So many clients that I talk to have the same problem — they aren’t spending enough time working on their business. Even though they know deep down that they need to spend more focused time growing and developing their business, they just can’t seem to find a way to make it happen. Jon has seen the same thing in his work, and he has an explanation for it. Jon shares what he believes is the number one reason for not getting the most important things done, and that is an overall lack of discipline.

A lack of discipline creates so many problems in businesses, in particular with getting things done. Disciplines are essential to the success and health of your company, and they are so valuable because they help contain the creative places. Jon ask his clients some hard questions here as well —

“What does it mean to actually own your schedule?”

“Do you know where the value-adding activities are as you work to distinguish yourself in the marketplace?”

“What do you need to become more of in your role as a business owner?”

Asking yourself these kinds of questions can help you develop a core language and real sense of identity for your business as it grows. Once you understand the beliefs that are driving your behaviors, it becomes easier to form new habits that will help to drive your business forward and help you reach the milestones you’ve set for your consultancy.

The Key Role of Commitment

I see a lot of consultants that will tell you that they want to grow their business — on the surface.  But there is a big difference between those who are truly committed and those who are simply interested in making growth changes. Too many consultants spend their time talking about their plans for change, but when it actually comes time for taking action, they find reasons and excuses to not put in the work that is required to get it done.

You can wish for things to happen in your business, but it’s only when you really want to put in the work that things will really start to happen. It’s usually only when the pain has grown to a point that you decide you’re willing to do the hard work of creating new disciplines tied to the commitments that you want for your business that change starts to happen.

But that doesn’t have to be the case for you! You don’t have to get to the point of pain to set goals and make change happen in your consultancy. You need to listen to my conversation with Jon to find out how you can avoid hitting that low point before taking your business to a higher level. There will have to be trade-offs in order to achieve the higher level of consulting success that you have been seeking, but it will be worth it.

Change is a natural and essential part of growing your business, and you don’t need to fear it.  Change does not mean that things are going wrong. If you can embrace change and the uncertainty that can come with it, you may just find that even better things are about to happen for your business. You need to consider how you can apply the advice that Jon shares during our conversation in a very honest way and you may find that it will provide an even greater value for you.

Building A Network and Securing New Clients

For the past eight years, Jon has made a dedicated effort to expand his network in every way possible. In addition to his work with clients, he also teaches at a local educational institution, has weekly meetings with his network in BNI (Business Network International), and is a member of his local Chamber of Commerce. Each of these steps to build his network requires a measure of discipline and builds awareness around the work that he does.

When he was about four years into his work, Jon reached the point that he was able to choose the kinds of clients that he wanted to work with. This is a milestone that every consultant wants to reach, and for Jon, it took years of disciplined work to achieve. There were moments of disappointment and setbacks, but Jon surrounded himself with people that encouraged him to keep moving forward, and the payoff has made it all worth it.

Jon shares two words of advice for any consultant that wants to meet the milestones of success as soon as possible. First, there is great value in writing — sharing your content through newsletters, blog posts, and articles has the power to increase your credibility substantially. Trust in yourself and don’t be afraid to put your content out there for the world to learn from. It does require discipline, but the benefits it brings to your company will quickly become apparent.

The second piece of advice he shares is to have the discipline to maintain positive and encouraging relationships no matter how busy your work and life become. For some, that may come through personal friendships, others it will be with a mentor or coach. Whatever it is for you, make sure that you take time to maintain the relationships that will help support you on your road to success.

If you’ve been listening to The Consulting Success Podcast for any amount of time, you will recognize some of these same themes popping up, posing the need to ask yourself some hard and honest questions about your commitment to the success of your consultancy —

“Are you disciplined enough to have continual conversations within your network?”

“Are you committed to making meaningful and necessary changes for your consulting business?”

If you’re unsure of your answers to these questions, along with the questions Jon posed earlier, then you need to listen to this episode. I know you will gain great insight into ways that you can increase your discipline and commit to real change as you listen to my conversation with Jon DeWaal on this episode of The Consulting Success Podcast.

Key Takeaways:

[:17] Introducing Jon DeWaal — life transition specialist, fall survivor, and asker of hard questions.
[8:37] The most common challenge that business owners face is their busy-ness.
[10:23] The need for real discipline and a lasting commitment to growing your business.
[16:14] The benefits of embracing change as it comes to your consultancy.
[21:04] Jon’s advice for building a business and securing new clients.
[24:29] The value of sharing your content and maintaining your relationships.
[29:48] How you can connect with Jon.

Mentioned in This Episode:

Liminal Space

“Everything Is Waiting For You,” by David Whyte

BNI —  Business Network International

Tweetables:

“You’re not going to be able to move forward with confidence and clarity if you don’t slow down and learn how to wait.” — Jon DeWaal

“Disciplines help contain the best creativity.” — Jon DeWaal

“There is a big difference between those who are truly committed and those who are simply interested.”  — Michael Zipursky

“Alertness is the hidden discipline of familiarity.” — Jon DeWaal quoting David Whyte

“There is one thing that cannot be removed, and that is having conversations.”
— Michael Zipursky

7 Questions To Ask Yourself About Your Commitment To Success with Jon DeWaal: Podcast #27 is a post from: Consulting Success

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NBA Golden State Warriors: Amazing 17min video of the last 8 years

Super entertaining. Watched this 17min video about the Golden State Warriors made by a NBA enthusiast / student / Youtuber. Dom 2K.  Great job – this is really ESPN quality. What was so good about the video? What does this have to do with how consultants think? You might think this is a stretch, but the […]

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Consultant Vs. Consulting Business Owner: What’s the Difference?

Transcript:

Let’s talk about the difference between a consultant and a consulting business owner, because they’re very different, and a lot of people don’t understand the difference.

If you get your client from other agencies, if you work essentially for one main client — typically for a long stretch of time — you might be doing consulting work, but you’re not really what I would call a consultant. You’re a contractor.

If you’re getting your business from other companies that are typically taking a big margin from the work that you do, then you don’t have a business, because the moment that they stop sending you those opportunities, they don’t pass you through to new projects, is the moment that your “business” is gone.

If you really want to have a sustainable, viable, thriving, profitable consulting business, then you must move and shift your mindset from one of a contractor, independent consultant by themselves to one of a consulting business owner.

There’s no business left because there’s no clients, because you haven’t built up an asset. There’s nothing that really can help you in terms of momentum; you have to start from scratch. And that’s both if you work with some agencies that pass you that work or if you have one main client.

We have a lot of consultants at Consulting Success who reach out to us who have been in a position where they’ve been working with one client for a while, it goes really well, they consider themselves a consultant, they think they have a business, then that project winds down — sometimes on schedule, sometimes before schedule — and then they have to scramble to find the next client, the next project. And they’re going from one to the next.

They’re essentially riding what we call a marekting rollercoaster. They have to start again. It’s up and down and up and down. There’s no consistency, no predictability, because there’s no business.

Now, there’s also consultants who are doing consulting work who work for larger consulting firms or even other mid-sized consulting firms. They, too, they may be consultants, but they’re not consulting business owners because they don’t have a business. They’re essentially like a contractor, but they’re doing consulting work. But they’re a consultant within an organization.

It’s very different from being a consultant and business owner at the same time, because if you’re running a business, you have to do certain things to actually have a viable business.

One of those things, which is typically an area of challenge for many, is marketing. You must master marketing and sales. It doesn’t mean you have to have a marketing or sales background. It doesn’t mean you need to be an extrovert. In fact, introverts often have an advantage over extroverts when it comes to sales, which we can talk about maybe in another video.

But it’s interesting because many consultants out there have this mindset that they can simply be good at the work. That they can just be good at providing value to their clients, and that will give them a business. But it won’t. You can go from referral to referral to referral and consider yourself a consulting business owner, and that can take you a certain way. We work with many clients who have done that, and they’ve actually created a fair level of success.

But what always happens … It can take sometimes years for it to happen, but what always happens at some point is, they wanna grow the next level. They want to be able to attract more clients. They want more predictability, they want more [inaudible 00:03:35].

They want to grow or they want more control, they want more predictability, more sustainability, and referrals don’t provide it because if your referrals dry up, if the people who you know stop sending you new people, if something happens to them, if they move positions or countries or whatever, you’re not in control. The only thing that you can control is yourself, and that means the only thing that is gonna control your marketing is what you put into your marketing. What you put into building your business.

So if you really want to have a sustainable, viable, thriving, profitable consulting business, then you must move and shift your mindset from one of a contractor, independent consultant by themselves to one of a consulting business owner. It does not mean that you have to have employees. You can still be an independent consultant, but recognize that you’re running a business, and that in order to have a business, you need to do certain things to grow that business like marketing, like sales, like actually promoting your own brand and communicating to the marketplace, building your authority.

There’s many others, but these are all things that will help you to have a viable business. So when you’re ready to make that shift … And maybe you don’t wanna make that shift. Quite frankly, you can be a contractor. You can just get opportunities from agencies or work within a consulting firm as a consultant. That’s totally fine; nothing wrong with that.

But I’m really speaking to the people who want to build available business, wanna have control of their unlimited income-earning potential. Freedom. The ability to pick and choose which clients you work with. Maximize your fees. That means that you’re going to be a consulting business owner, and so you wanna have the mindset for that as well.

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Satya Nadella advice: bring energy and clarity

Big fan of Satya Nadella, current CEO of Microsoft. Take a look at this 2 min video. I showed this to 200+  business school students recently. Completely worth your time. Energy and Clarity.  Boom. Nadella argues that empathy is core to innovation. How can you meet unmet, unarticulated needs without really thinking, living, being in […]

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Succeeding As A Non-Profit Consultant with Elizabeth Woolfe: Podcast #26

The importance of trusting your motivation, developing habits of effective networking and capitalizing on your strengths to find greater consulting success.

Description:

In today’s episode, I’m joined by Elizabeth Woolfe, a passionate consultant with a focus on nonprofit organizations in the healthcare industry. There is a common misconception in the consulting world that working with nonprofit organizations means that there are no profits to be had for consultants. Many consultants avoid working with nonprofits for this very reason, and you may be one of them. Elizabeth has joined me today to explain how you can create a thriving, successful consulting business in the nonprofit market. We discuss the importance of using your network, trusting yourself, and overcoming business anxiety. She shares examples of how to effectively ask for referrals and how to grow your business to the point that you can choose the clients you are working for. It’s all in this episode of the The Consulting Success Podcast with Elizabeth Woolfe.

Does Non-Profit Equal No Profit For Consultants?

We start out with Elizabeth sharing the story of how she got connected with nonprofit organizations. She has actually dedicated her career to working with nonprofit organizations once she recognized how greatly nonprofits would benefit from working with a consultant but are often the organizations that are the least able to afford to hire one.

Elizabeth has always been interested in the healthcare industry. While her fear of chemistry did keep her from becoming a doctor, she stayed focused in the healthcare field and has had no regrets about her career path. After earning her Master’s in Public Health from UCLA, she began working with health education in New York. Once she was connected with those involved in the breast cancer movement, her work as a consultant began. She saw a need for more support in the movement and started linking organizations with companies that wanted to help with breast cancer awareness. Elizabeth, like so many other successful consultants, identified a gap in her industry and developed a way to fill it.

When you truly care about making a difference in the success of your client’s work, your intentions will show through. Your clients will be happy to give you referrals because of the trust that they have in you, and the sincere efforts that you are making to serve others.

There is a common misconception in the consulting world that working with non-profit organizations means that there are no profits to be had for consultants, and you may feel the same way. Perhaps you have seen an opportunity to fill a need in your industry but are hesitant because it doesn’t seem possible to get the value you are seeking. Too many consultants avoid working for this very reason, but I think my conversation with Elizabeth will change your mind.

She shares four essential ideas on how you, too, can create a thriving, successful consulting business, either in the nonprofit or for-profit market, in this episode of The Consulting Success Podcast.

Working Your Network

The first essential step to finding success in any industry is to build a network that is filled with people that you can rely on. When Elizabeth decided to start her consulting business, she told everyone she knew about her plan. The trust that people already had in her character and her ability to deliver results brought in some of her first jobs. Even today, almost all of her clients come to her via word of mouth. Her reputation precedes her in all that she does, and the result has always meant more opportunities for work.

By actively working her network, Elizabeth has been able to grow her business and continually entertain project requests. She maintains that by being generous with her time and helping other people find solutions to their problems, she is benefitting as well from the strengthened network. There is plenty of room in the consulting world for more than one person to approach a problem, so she doesn’t consider sharing ideas and working through problems with other consultants as competition. Instead, she has been given even more opportunities and referrals as a result of her willingness to work alongside others.

There is definitely a benefit to taking advantage of tools such as LinkedIn to help with networking, but there is no real substitute for making personal and real connections with people you have actually met and done business with. Introducing your colleagues to other colleagues will extend your reach, and as Elizabeth says, you really never know where your connections will take you until you actually start making them.

Asking For Referrals

If you’ve ever felt unsure of the best way to actually ask for referrals, you need to listen to my conversation with Elizabeth. Consultants generally don’t want to appear too pushy or “salesy” but asking for referrals is one of the best ways that you can secure more work for yourself. This is Elizabeth’s second critical step in finding success in your consulting business.

Once you are deep in the work of your business and effectively connecting with others, asking for referrals should come as a natural part of the conversations that you are having with your clients. Be sure to listen for the specific examples that Elizabeth shares of dialogue that you can use to ask for referrals without putting anyone on the spot or pushing too far.

An important distinction to make when asking for referrals is the reason why you are doing it. In Elizabeth’s case with working with nonprofits, the genuine care and concern that she has for helping these organizations succeed is the driving force behind her requests for referrals. When you truly care about making a difference in the success of your client’s work, your intentions will show through. Your clients will be happy to give you referrals because of the trust that they have in you, and the sincere efforts that you are making to serve others.

Once you’ve pinpointed your motivation, whether or not you actually land the client doesn’t really matter. The genuine care that comes with your efforts will be apparent, and trust within in your network will continue to grow. You’ll want to listen to our conversation as Elizabeth shares the pivotal moment in which she realized that her success was determined by her motivation, and it started when she started feeling especially anxious about her work.

Many consultants deal with anxiety when thinking about the future of their business, clients, and projects. When Elizabeth was faced with these questions, she was given some career-altering advice. She was told the same thing that you will hear me constant telling consultants — trust that what you do is important, use your network, and be confident in the things that your clients are learning from you.

That is really the key to finding success in your consultancy. It is essential that you trust in the work that you are doing for the organizations you are working for, and that you believe in yourself. If you can master this step, you will be able to enjoy the confidence and success that comes as a result.

Finding Balance While Building Your Business

Like many consultants, Elizabeth started her consultancy as a result of wanting to achieve a greater balance in her life. Her desire to spend more time with her family and on her interests instead of commuting and working for other people gave her the push she needed to get started. This desire to find more balance brought with it the need to maintain that balance.  Building your business can become an all-consuming endeavor, but it doesn’t have to be.

Instead of allowing your business to take over you, you have to take control of how you approach it. This is Elizabeth’s third step to success. Marketing, networking, and business development should become a habit that you want to attend to daily. For Elizabeth, this includes participating in educational opportunities such as presentations or webinars that focus on skills development and strategic business planning. Forming the habit of putting yourself in front of prospective clients will support your position as an expert in your marketplace, and you will see greater success in your consultancy as a result.

Any efforts that you make to consistently and proactively advance your business will play a great role in your success. The defining difference between consultants that struggle and consultants that succeed is this: thinking about your marketing and thinking about your business plan is not enough. Implementing your plan and working on it day in and day out on a consistent basis will bring you success. As you feed your business engine daily, it will start to gain momentum and you will take your consultancy to the level that you can select who you want to do business with.

Capitalizing On Your Strengths

As we continue our conversation to explore some of the anxiety-inducing facets of consulting, Elizabeth shares some very wise counsel that is her fourth step to consulting success. It is critical that you truly know who you are, what you are good at, and what you enjoy doing. When you focus on these things, you will propel yourself toward success faster. If you overextend yourself or try to branch out beyond your skill set and focus on other things, you may be faced with unnecessary anxiety about your weaknesses and potential failures.

Elizabeth shares some of the strategies that she uses to deliberately focus in on her strengths while also allowing herself opportunities for growth. You’ll want to hear her checklist for ideas of ways that you can expand your skill set, education, and expertise as well.

Every consultant knows how tempting it can be to take any project that comes along, even if it’s not a great fit for your skillset. In my conversation with Elizabeth, you’ll remember why this is always a bad idea. If you really want to grow your business to the point that you can pick and chose the kinds of ideal clients that you want to work with, it is essential that you learn to say no to the ‘wrong fit’ projects.

If you can’t do this you may end up doing work you don’t like with clients you don’t want to be working with. I can promise you that you will do your best work when you are able to charge the highest value for the best clients that you actually want to be working with.

Intuition Consulting is the company that was born from Elizabeth’s ability to assess the best clients, the best projects, and the best value of work. By sticking with the standards she has set for herself, she can easily say no to the rest. Her success shows that this approach to business is always the best one, and you won’t want to miss out on the experiences and knowledge she shares that prove it, in this episode of the Consulting Success Podcast with Elizabeth Woolfe.

Key Takeaways:

[:20] Meeting Elizabeth Wolf, passionate and successful nonprofit organization consultant.
[5:05] How your relationships will positively affect your consulting success.
[9:03] Effective ways to ask for business referrals.
[14:03] Building your confidence, trusting your motivation, and believing in yourself.
[17:52] The importance of forming productive business and networking habits.
[22:23] How to capitalize on your strengths to secure your success.
[25:32] The importance of working with coaches and mentors.
[26:23] Connecting with Elizabeth Woolfe.

Mentioned in This Episode:

Intuition Consulting

Elizabeth Woolfe on LinkedIn

Tweetables:

“It’s all about relationships. … I have great relationships and an incredible network that delivers for me.” — Elizabeth Woolfe

“Almost all of my clients come to me via word of mouth.” — Elizabeth Woolfe

“Trust that what you are doing is important for the audience that you are doing it with and for.”  — Elizabeth Woolfe

“You should really know who you are and what you are good at.” — Elizabeth Woolfe

“If you really want to work your business to a place where you’re able to attract your ideal clients, it’s essential that you say no to the wrong kinds of clients.” — Michael Zipursky

Succeeding As A Non-Profit Consultant with Elizabeth Woolfe: Podcast #26 is a post from: Consulting Success

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Only 38% of US publicly-traded companies are profitable

Finviz is a great way to filter stocks. It’s free. It’s like Bloomberg-lite for the non-investment bankers. It shows all the stocks traded in the US (including foreign ADRs like HMC, PHG etc). Here is an exercise (as of 03/04/2018): 1) How many stocks are traded in the US (NYSE, AMEX, NASDAQ)? 7159 2) Of those 7,000+ stocks, […]

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