Category Archives: Business of Consulting

Leader or Follower?

Posted on May 16, 2013 by Alan Weiss

There are three main elements in a healthy consulting business:

  1. Eliciting and following up on leads.

You must make your way to a genuine, economic buyer, in an organization that can truly use your value. In your “pipeline,” leads should be continually entering at various stages, from short-term to long-term. Too many consultants “vacuum” out the leads and don’t replace them, with the result of spurts of intense business and then famine for even longer periods.

2. Conversion of leads to business.

You must develop a trusting relationship with the economic buyer to the point where the buyer shares professional and personal goals, and the objectives for and value of a project. Too many consultants rush this stage as if it’s a checklist to hurry through. As a result, the buyer says positive things to get you out of the office, but doesn’t call back or respond to the proposal.

3. Implementation and delivery.

You must provide a speedy and high quality improvement to the client’s condition. This should be as non-labor intensive as possible yet still meet all objectives. Too many consultants fall in love with their methodology or, worse, engage in “scope seep” and continue to deliver unnecessary value to try to validate themselves and their fees.

If you are perceived as an expert and thought leader, true buyers come to you, enter into business on your terms and for your fees, and never question the process. Do you want to be another pair of “feet on the street” or a true leader in this profession?

© Alan Weiss 2013

  • Share/Bookmark
Print This Post Print This Post
Posted in Business of Consulting, Personal Improvement | Leave a comment

Don’t Bite When It’s Not Necessary

Posted on May 13, 2013 by Alan Weiss

Bentley has a bite pressure of approximately 300 pounds, more than a pit bull, less than a Great White Shark (600 pounds). Of the canids, the wolf hits about 400.

I report this because Bentley (and Buddy Beagle) will play by gently nipping my fingers and hand, even though they could take a finger off rather easily. This is called the “puppy bite,” meaning that, when raised in a litter, puppies learn to play and not harm their siblings. (Dogs raised outside of a litter often do not practice that distinction and can hurt you inadvertently.)

We all need to learn the difference between productive play and self-defense and aggression. Not all disagreements need be fights, not all fights need be fatal. Sometimes in matters of principle (to paraphrase Jefferson) we need to take a stand. But in matters of taste, is it really all that important?

Bentley doesn’t care which ball we use to play fetch, nor when he goes into the yard. But he would defend us viciously and dangerously against an intruder or threat.

He learned this early, and so should we all. Proportional response is a great gift.

© Alan Weiss 2013

  • Share/Bookmark
Print This Post Print This Post
Posted in Business of Consulting | Leave a comment

Three Dimensional Marketing

Posted on May 8, 2013 by Alan Weiss

Think of one, two, and three dimensional contact. Email is one-dimensional, the phone two, and in person is three.

Here are three-dimensional options for marketing in order of quality of lead and probability of a meeting and business:

1. Referral business

2. Commercially published book (because it readily leads to personal meetings)

3. Speaking at major events

4. Hosted breakfasts (etc.)

5. Networking

These are examples of three dimensional marketing. If you had to choose, remove all the rest. In actuality, you can include a lot more, per my Market Gravity IP. To call speaking, web sites, newsletters and other one-dimensional options equal to these is silly.

I’m saying this so harshly, because all of us have limited time and energy.  If you did the five things above well and regularly you’d make seven figures a years without doing anything else.

© Alan Weiss 2013

  • Share/Bookmark
Print This Post Print This Post
Posted in Business of Consulting | 3 Comments

The Power of Language

Posted on May 4, 2013 by Alan Weiss

Learn and practice examples and metaphors that will solidify your points and/or rebut objections. Some examples for you:

• We’re a large complex organization, it would be tough for a solo consultant to help us.

Response: All you need is momentum, not someone to bench press the organization. A single, small tractor, driven by one person, moves jumbo jets around the airport.

• We never utilize external consultants.

Response: You’d be surprised at how many of my best, current clients started the conversation the same way!

• You don’t know our business.

Response: That’s why people hire me. I specialize in processes and provide the fresh air of best practices so you don’t merely breathe your own exhaust.

• We have our human resources department get involved with all change management initiatives.

Response: Why? This is a strategic decision. Why refer it to a tactical area which may be threatened by the very concept? Would you entrust them with your financial planning?

• What can you do for us?

Response: I’m not sure. Why were you interested in speaking to me in the first place?

• We can probably do this internally.

Response: Then why hasn’t it been done? Initiating special initiatives with your own people is the most expensive and inefficient way to get things done.

• Who else have you done this for?

Response: My clients, as you would be as well, are confidential. When we get to the proposal stage, if you still need to talk to someone, I’ll be happy to provide references.

• How much will this cost?

Response: I have no idea at this point, and to quote something as a guess would be a disservice to you. But if you can answer a few questions for me over the next 20 minutes, I can have a proposal on your desk tomorrow with options, investment, and ROI. Would that be suitable?

• I’ve never heard of you.

Response: Why would you have? I only work on referrals from happy clients to their peers. I have no need to advertise or use PR.

• Would you give us a deal to secure the business right now?

Response: Do you do that for your customers? If not, why would you expect it of me? If so, you need me more than you think!

© Alan Weiss 2013

  • Share/Bookmark
Print This Post Print This Post
Posted in Business of Consulting | 3 Comments

Million Dollar Thinking

Posted on April 26, 2013 by Alan Weiss

I’m finishing yet another Million Dollar Consulting® College here in Newport this morning, and my next one in December is a third-filled already. I’m wonderfully surprised about the lifespan of something I thought would run for a few years back in 2005!

In April of 2015 I guess I’ll run the Tenth Anniversary Consulting College!

I always learn more than anyone, which is why I continue to run these sessions. Here is a portion of that learning from this week:

• You have to take prudent risk in professional services. No buyers look for resources in a crowd. The look for those who stand out.

• Intellectually understanding a point is insufficient. You need to emotionally embrace it and practice it.

• Most poor performance is self-inflicted by fear, guilt, low self-esteem, and inability to stand up to pressure (many of which are obviously related).

• When you coach or teach someone else you build your own skills tremendously.

• There is a tropism to make things more complex, when consultants’ value is really making the complex simple.

• We too easily become amateur psychoanalysts, a profession not even psychoanalysts are all that good at, and make the absurd assumption that the buyer is automatically the cause of the problem!

• Lack of language skills is the greatest contributor to feelings of insufficiency and the inability to take the role of a peer to the buyer.

• In our business, “research” is overrated. Look for evidence in the environment, observed behavior, and examples which prove or disprove points.

• We all need support systems and sounding boards we can trust to help us with perspective and decisions.

• This is a fantastic profession if we can stop getting in our own way.

© Alan Weiss 2013

  • Share/Bookmark
Print This Post Print This Post
Posted in Business of Consulting, Consulting Philosophy | Leave a comment

Million Dollar Consulting® College Newport, April 2013

Posted on April 25, 2013 by Alan Weiss

Here is the gang from the Consulting College ending tomorrow after a great week at the Castle Hill Inn in Newport, RI. I’m known for keeping the room cold, so Nancy Cramer is loaning her scarf to Stefan Voswinkel. Participants are from Denmark, Canada, and the US. The next program is scheduled for the week of December 9, and we are already one-third filled. Details here: http://summitconsulting.com/consulting-college/consulting_college_2013-12.php

Left to right: Stefan Voswinkel, Judith Voswinkel, Tim Burch, Kristen Putnam, Nancy Cramer, Alan Willet, Sherry Duda, Aeby Thomas, Marcie Lonich, Mark Rodgers, Urko Wood, Nick Whitenburg, Lisa Anderson, Steven Gaffney. Alan Weiss in front.

  • Share/Bookmark
Print This Post Print This Post
Posted in Business of Consulting, Personal Improvement | Leave a comment

How to Find and Capitalize on High Potential Prospects

Posted on April 18, 2013 by Alan Weiss

This is some of the material discussed recently at my 627 (six figures to seven figures) group:

1. Search for those  with a successful history of using consultants and who require your particular expertise.

2. Consider yourself an expert, not a “consultant.”

3. Expand the buyer’s objectives.

4. Present an option that includes a retainer.

5. Build dependency on your expertise so that you are the first choice.

6. Maintain relationships solely with high level people, so that they are your peers.

7. Act and appear as a success.

8. Don’t let a “one-off” piece of business divert you from the main thrust of your business and passion.

9. Attain thought leadership to attract people to you.

10. Discuss your proposals with a coach or trusted colleagues before submitting them.

11. Walk away from small, distracting work.

12. Make your marketing constant and continual, not situational. Avoid the roller coaster.

© Alan Weiss 2013

  • Share/Bookmark
Print This Post Print This Post
Posted in Business of Consulting, Consulting Philosophy | Leave a comment

Tips from the Million Dollar Consulting® Mentor Hall of Fame

Posted on April 12, 2013 by Alan Weiss

Here is a summary of some best practices that emerged from our annual Hall of Fame meeting in New York this past week. In my global communities of thousands of people (and hundreds of thousands of readers) there are about 40 people in the global Hall of Fame (http://www.summitconsulting.com/services/hall_of_fame.php). Every year a dozen assemble in New York to discuss professional and personal issues and trends.

• The most valuable coaching focuses on the best performers, not the worst performers. They make the most contribution to the organization’s future success.

• Focus on excellence, and consistently discussing what constitutes excellence with those whom you trust.

• Be skeptical on the margins of technology. That is, technology is rarely a cure or magic wand. Applying it without judgment can simply hide deeper problems.

• Even in poor markets (e.g. Europe at the moment) you may possess unique value for organizations that are doing well and which are willing to invest in improvement.

• A lot of prospects are now cash-rich, having “hoarded” cash during tougher economic times. They are willing to invest it again.

• Many traditional industries are entering non-traditional pursuits to expand their markets and improve their profits. They usually need help in this endeavor.

• South America is one of the great boom markets in the world at the moment. They are not looking to the US for help, but will accept the help of those who can provide clear value addressed at specific need.

• A great deal of the sense of “overwhelm” facing both organizations and individuals stems from too many choices. Make things easier to decide.

• Organizational communications are almost always inferior to personal communications. That can be remedied if senior management is willing to listen and understand how people communicate today.

• The “average” buyer today represents a leaner, meaner, more sophisticated organization than ever before.

• The very best investment you can make—with the finest dividends and returns—in in yourself, your business, and your own development.

© Alan Weiss 2013

  • Share/Bookmark
Print This Post Print This Post
Posted in Business of Consulting, Consulting Philosophy, Personal Improvement | 2 Comments

Creativity Quickly: What’s Your Story?

Posted on April 9, 2013 by Alan Weiss

Quick trip to creativity:

1. Select a brief, true story you often tell. It can be personal or professional, recent or dated.

2. Articulate the real moral of your story. What did you learn? Why is it a good story to tell? (Example: Always have a “Plan B” ready.)

3. Select the pragmatic lesson that others can apply from the moral. (When things are going very well is exactly when you should develop your Plan B.)

4. Develop the lesson so that others can learn the steps to competence, reinforcement for repeating it, and becoming motivated to use it consistently. (Identify vulnerability, assess probability and seriousness, identify alternative solutions, create monitoring, etc.)

5. Monetize the lesson. Put it into a teleconference, video, podcast, workshop, book, coaching approach, and so on. (The Plan B Teleconference: Planning from Strength.)

Now, choose another story.

© Alan Weiss 2013

  • Share/Bookmark
Print This Post Print This Post
Posted in Business of Consulting, Personal Improvement | 1 Comment

Organization 101

Posted on March 17, 2013 by Alan Weiss

I’ve been discussing the importance of the success loop of organization/control/power/success/self-esteem (http://www.contrarianconsulting.com/self-esteem-and-control/). I’d like to focus on what I mean by “organization.”

Many of you will find this heretical, counterintuitive, and irritating, which is why I’m having so much fun suggesting it:

  1. Don’t use your email software for project management. Use it to send and receive emails. Keep it clean and simple, and empty at the end of the day. Use files with client names, or personal projects, or deadlines to store only vital material outside of your email system.
  2. Stop worrying about upgrading and improving your software and hardware. You don’t need the latest bells and whistles unless your own system is failing or incompatible with others’ systems. Obsessing about six backup systems which enable you to store information in the event of plague or UFO attack is simply wasted time. If I lost all my files tomorrow, I could still successfully deal with my clients WHO WOULD BE CALLING ME!
  3. Get yourself off the social media time dumps. I looked at Facebook ten minutes ago, just in case it’s radically changed due to some miracle in the masses. It’s as stupid as ever. Someone on Linkedin actually posted an article about how it’s impossible to make a million a year as a solo consultant. That means you’re now reading the advice of an imaginary person. As Daffy Duck used to say, “What a moron!”
  4. Schedule whatever really needs to get done and stop making “to do” lists which merely stir the soup but never serve it.
  5. Find three professional and/or personal priorities that are urgent to accomplish and schedule them for tomorrow. Forget about anything else until you get them done at the times you designate.
  6. Turn off your phone and return calls, don’t be available to be interrupted unless you have a phone appointment. Don’t allow your computer to signal the arrival of email. Check email only three times a day. Leave all social email for the evening.
  7. Stop giving your cell phone number to everyone, and keep it turned off or refuse calls unless it’s your family or top clients. And I’m not so sure about your family.
  8. Relax. You need “ramp down” time if you’re to “ramp up.” Set aside time to play with the dog, listen to music, exercise, or veg out during the day.
  9. Help yourself first. Learn to say “No” to requests for your free help without feeling you have to explain yourself. Your first “obligation” is to be happy and successful, so that you can make others happy and successful. Notice the order?

10.Choose your fights. Get a life. Not every setback is devastating. Tuck your ego away. Ask for help. Stop arguing over who gets to sit near the window. Have some tolerance. Give some ground. Just don’t give away the store.

© Alan Weiss 2013

  • Share/Bookmark
Print This Post Print This Post
Posted in Business of Consulting, Consulting Opportunities | 2 Comments