Category Archives: Business of Consulting

The Consulting Bible Reviewed by Project Management Institute

Book Review: The Consulting Bible – Everything you Need to Know to Create and Expand a Seven Figure Consulting Practice
Author: Alan Weiss Ph.D.
Reviewer: Richard Sachs, PMP, MCPM
Dr. Alan Weiss adds this recent book to his extensive publishing career of over 40 books and more than 500 articles. The CONSULTING BIBLE, has some biblical analogies as it is divided into five sections: Section 1 Genesis: Consulting as a Profession; Section II Exodus: Consulting as a business, Section III Deuteronomy: Consulting Methodology, Section IV Acts of the Apostles: Implementing Consulting Methodologies, Section V Proverbs, Consulting Success. The author adds in ‘lessons learned’ or tips under the caption of “The Gospel” throughout each chapter and section when he wants the reader to pay attention to special information. I counted over 50 of these tips and the reader could create a compendium of these for quick reference as I found them valuable: Here are just three examples: “The only time an alliance makes sense is when there is money on the table”; “Everyone can write. Writer’s block is merely a clever term for procrastination. But not everyone has something to say. That’s a key differentiator”; “You must accept rejection and reject acceptance. This is a relationship business and you will not always be successful. But do not align yourself with those who can’t say ‘yes’ but can say ‘no’ “. This last “Gospel” is one pitfall everyone should consider carefully when being asked to prepare a proposal.
The book reads easily and Weiss communicates as if he was giving a presentation. He uses many techniques to move the reader through his thesis. That thesis is that wealth is discretionary time and not money and building a practice to give one the freedom is the goal. There are Case Studies from Weiss’ personal and extensive consulting career. Truth is stranger than fiction and Weiss captures some humorous client situations stating that “you can’t make this stuff up”. Weiss creates many applied consulting terms and illustrations and shares these throughout the book. His concepts include- The Consulting Model, The Accelerant Curve; Market Gravity Wheel and The Market Value Bell Curve. These are designed to foster new thinking by the consultant in how he/she models their business to achieve growth. His experience is as a sole practitioner and his goal is to expand your capability and income as a one person consulting practice or small boutique firm. Weiss makes light of those that would criticize his approach as not scalable to the medium or large consulting firm- but that is not his market.
The Consulting Bible at 265 pages provides some strong sales tools(obtaining referrals) as well as real tactical insights into pricing services, charging retainers and finding the best clients which by the way have a mutual respect for the consultant they engage. The consultant is sometimes his own worst enemy by taking on work and services that he or she will not be paid for. “Scope Seep” which Weiss adds, is “the most invidious and potentially damaging aspect of consulting… (it is) when the consultant without impetus or request from the client, enlarges the project unilaterally without changing the proposal, agreement or fees”. Some readers may find this familiar territory and Weiss provides some clear advice on the subject of roles, responsibilities and self-management.
Disengaging is a chapter that I especially found thought provoking. You don’t necessarily have to leave the client but your project when coming to an end requires an endorsement that the improvement your client was seeking as a condition of the assignment was achieved. As a consultant, either the results were achieved or will require more time, but disengagement is necessary so that you can “maximize the chances to leverage business internally and externally”. Weiss outlines seven things a consultant should do to enable a positive disengagement. Weiss elaborates on referrals, testimonials and long term leverage. This chapter is highly valuable as any good project manager knows that lessons learned is what builds a strong foundation for organizational project performance. This same thinking, but with a business development consideration, is most illuminating and worth the price of the book.
Weiss ends the book on the subject of giving back. This especially resonates with me as I mentor project management students and put high value on the benefits we both derive in this process of returning to the community. The author goes on to talk about ‘Advancing the state of the Art’ and again I subscribe to the belief that while not everyone can add to the profession in a substantive way it is often about incremental change that when aggregated actually adds to thought leadership, innovation and service excellence.
I recommend this book to other PMI members who are interested in learning how Alan Weiss has built his multi-million dollar practice with an array of services and offerings that leave his business diversified and capable of growing during various economic cycles. He is a consummate expert on the subject of coaching consultants and has provided the reader with many tools in The Consulting Bible. Enjoy.

Nice review, sent courtesy of Donna Brighton. The Consulting Bible on Amazon is at #18,000 overall, #9 in education and #13 in consulting; by comparison, Million Dollar Consulting is at 22,000 and 16 in consulting (it isn’t in the other category). I have five of the top 20 consulting books at the moment.
Consulting Community of Practice Book Review: The Consulting Bible – Everything you Need to Know to Create and Expand a Seven Figure Consulting Practice
Author: Alan Weiss Ph.D.
Reviewer: Richard Sachs, PMP, MCPM
Dr. Alan Weiss adds this recent book to his extensive publishing career of over 40 books and more than 500 articles. The CONSULTING BIBLE, has some biblical analogies as it is divided into five sections: Section 1 Genesis: Consulting as a Profession; Section II Exodus: Consulting as a business, Section III Deuteronomy: Consulting Methodology, Section IV Acts of the Apostles: Implementing Consulting Methodologies, Section V Proverbs, Consulting Success. The author adds in ‘lessons learned’ or tips under the caption of “The Gospel” throughout each chapter and section when he wants the reader to pay attention to special information. I counted over 50 of these tips and the reader could create a compendium of these for quick reference as I found them valuable: Here are just three examples: “The only time an alliance makes sense is when there is money on the table”; “Everyone can write. Writer’s block is merely a clever term for procrastination. But not everyone has something to say. That’s a key differentiator”; “You must accept rejection and reject acceptance. This is a relationship business and you will not always be successful. But do not align yourself with those who can’t say ‘yes’ but can say ‘no’ “. This last “Gospel” is one pitfall everyone should consider carefully when being asked to prepare a proposal.
The book reads easily and Weiss communicates as if he was giving a presentation. He uses many techniques to move the reader through his thesis. That thesis is that wealth is discretionary time and not money and building a practice to give one the freedom is the goal. There are Case Studies from Weiss’ personal and extensive consulting career. Truth is stranger than fiction and Weiss captures some humorous client situations stating that “you can’t make this stuff up”. Weiss creates many applied consulting terms and illustrations and shares these throughout the book. His concepts include- The Consulting Model, The Accelerant Curve; Market Gravity Wheel and The Market Value Bell Curve. These are designed to foster new thinking by the consultant in how he/she models their business to achieve growth. His experience is as a sole practitioner and his goal is to expand your capability and income as a one person consulting practice or small boutique firm. Weiss makes light of those that would criticize his approach as not scalable to the medium or large consulting firm- but that is not his market.
The Consulting Bible at 265 pages provides some strong sales tools(obtaining referrals) as well as real tactical insights into pricing services, charging retainers and finding the best clients which by the way have a mutual respect for the consultant they engage. The consultant is sometimes his own worst enemy by taking on work and services that he or she will not be paid for. “Scope Seep” which Weiss adds, is “the most invidious and potentially damaging aspect of consulting… (it is) when the consultant without impetus or request from the client, enlarges the project unilaterally without changing the proposal, agreement or fees”. Some readers may find this familiar territory and Weiss provides some clear advice on the subject of roles, responsibilities and self-management.
Disengaging is a chapter that I especially found thought provoking. You don’t necessarily have to leave the client but your project when coming to an end requires an endorsement that the improvement your client was seeking as a condition of the assignment was achieved. As a consultant, either the results were achieved or will require more time, but disengagement is necessary so that you can “maximize the chances to leverage business internally and externally”. Weiss outlines seven things a consultant should do to enable a positive disengagement. Weiss elaborates on referrals, testimonials and long term leverage. This chapter is highly valuable as any good project manager knows that lessons learned is what builds a strong foundation for organizational project performance. This same thinking, but with a business development consideration, is most illuminating and worth the price of the book.
Weiss ends the book on the subject of giving back. This especially resonates with me as I mentor project management students and put high value on the benefits we both derive in this process of returning to the community. The author goes on to talk about ‘Advancing the state of the Art’ and again I subscribe to the belief that while not everyone can add to the profession in a substantive way it is often about incremental change that when aggregated actually adds to thought leadership, innovation and service excellence.
I recommend this book to other PMI members who are interested in learning how Alan Weiss has built his multi-million dollar practice with an array of services and offerings that leave his business diversified and capable of growing during various economic cycles. He is a consummate expert on the subject of coaching consultants and has provided the reader with many tools in The Consulting Bible. Enjoy.

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Business At The Beach

I’ve heard people actually state with pride that when they are on vacation they do not respond to email or phone messages. The focus only on their vacation, and put off any business until they return.

To quote my wife and the economic buyer in our home: “What are they, nuts?”

We’re leaving Puerto Rico, where every day we’d sit on the beach at the St. Regis Bahia Resort. This was a “veg” vacation, where we simply wanted to get away from winter in New England and not think about social obligations or anything other than sunning and eating. However, I had my cell phone and iPad on the beach, and made just over $40,000 during the trip.

In addition, I kept a lot of current clients happy by responding to questions and providing some feedback. All of this took less than 30 minutes a day, spread out over seven hours on the beach. Even at my rate of spending, we paid for the vacation!

I have no problem watching the breakers and responding to a call. (One client said once, “What’s that noise?” I replied, “I’m on the beach in Aruba and those are the waves.” He said, “You’re such a kidder. Where are you really?”) Almost no one has my cell phone number, so I have the prerogative of listening to messages returning calls quickly or not. The same with emails—I can be very selective if I choose to be.

But by striking fast, you get business that much faster (sometimes versus “not at all”). I process credit cards on my lap top or iPad (and could on my iPhone). I keep people happy. I strike while the iron and the sun are hot.

And when I return home, guess what, there are fewer messages to return, no pile of unreturned calls to wade through. If I can go to my pool during my “working day” at home, why can’t I take business calls or email on my vacation? If I disappeared into my room for half a day on vacation, I’d be a fool, and probably divorced. But talking on the beach, trying to keep my food away from a gull, sipping a Bahia Breeze—come on, that’s not work, that’s living!

Or as the buyer says to me around 4 as we collect our things to head back from the beach, “How’d we do today?”

© Alan Weiss 2012. All rights reserved.

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Alan’s Latest Interview

I was interviewed recently by someone who had really done his homework, and I think you’ll enjoy the results of this candid, unscripted session. Here are his instructions:

Alan-

Thank you for your delightful interview on our FoxNews affiliate here in Nashville, TN. If you would like to promote the show to your following of people around the world it plays live tomorrow in its entirety from Noon-1:00 CST and can be found @ www.wlac.com and live streaming anywhere in the world on www.iheartradio.com (call letters are WLAC FoxNews Radio in Nashville). If the listener goes to the WLAC site it will direct them to I-Heart Radio.

I will also be sending you the podcast via YouSendIt for you to utilize any way that you would like. I hope we asked you great questions and allowed ample time to explore the questions.

Thank you and have an excellent day!

Coach Micheal J. Burt

CEO/Founder CoachBurt.com

www.coachburt.com

www.facebook.com/maximumsuccess

www.twitter.com/michealburt

www.linkedin.com/in/coachburt

Office: 615.225.8380

Direct: 615.849.2099

“Everybody Needs a Coach in Life”

Listen to “Change Your Life Radio” @ CoachBurt.com

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The New Consulting Market

Bentley has just announced its best sales year ever, and the U.S. is its biggest market. They are even considering the launch of a Bentley SUV for $150,000, which I doubt anyone has been begging for, but there you have it.

Some organizations are doing quite well, and luxury goods, travel, and recreation are among them. The auto industry is doing just fine, and so are many aspects of health care, home improvement, and retail, just to name a few.

My point is this: Be like Willy Sutton, and go where the money is. Stop marketing remedial “fixes” and remedies and problem solving. Stop assuming that damaged organizations are your best prospects. (Most organizations that are poorly run don’t have bright enough leadership to recognize the need for or investment in external help.)

Offer innovation, market gain, new customers, diversified offerings, improved conditions. Help all-stars become world class. Create “killer gaps” for the front-runners between themselves and the next best in the competitive race.

Too many consultants see themselves as repairmen, doctors diagnosing illness, or investigators solving a crime. Problem solving for struggling firms is not where the rewards are these days. Innovation for highly successful firms is the current and future game in town.

So consider adjusting your web site, blog, newsletters, collateral, conversation—and, most of all, mentality—to this new reality. How can you help people with money to invest become even better?

If you can do that consistently and well, you’ll wind up driving the Bentley.

© Alan Weiss 2012. All rights reserved.

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2012 Financial Regimen

I never give financial advice and I don’t pretend to be a financial expert. But I have worked with thousands of solo practitioners and firm owners, and I have learned from my own mistakes. So here are some New Year’s suggestions for a healthy financial regimen.

1. Pay yourself first. Set up a new business account separate from your regular personal and professional accounts. Transfer 10% (choose your own percentage) of EVERY dollar you collect in 2012 into that account. If you close a $150,000 project, transfer $15,000. If you sell $200 worth of products, transfer $20. Try not to touch it except in emergencies (a new car is not an emergency).

2. Fund your retirement plans during the year to their maximums through installments. Figure out what you can contribute to SEP IRAs, IRAs, 401Ks, or whatever else you’re created, and contribute as you go through the year. (Example: If you are confident your personal income will be $160,000 or greater, you can contribute a maximum of 25%, $40,000, to a SEP IRA—and more if you’re over a certain age. That means you should start contributing about $3,000 a month, and try to pay it in the 2012 calendar year, even though you have until April of the following year.)

3. Make a plan to payoff credit card balances the same way. Every month, pay ALL the new charges and then pay at least one-twelfth of the remaining balance. This will decrease interest payments, improve your credit score, and free up credit if you need it in an emergency in the future.

4. Make plans to maximize your TOP LINE revenue. No one grows through cutting expenses. Doing your own monthly financials on software programs instead of hiring a bookkeeper for $250 a month is just ridiculous. Focus on truly growing your business and start thinking BIG.

5. Create “budgets” that you fund for key, planned expenditures: school costs, vacations, house improvements, and so on. Try to fund these monthly, as well. It actually helps to keep them in different accounts.

6. Monitor your spending. There are sites such as Mint.com and apps such as Pageonce Pro than can help if you’d like an automated system that notifies you of bills due, spending deviations, bank charges, and so forth. While I don’t believe in cutting to grow, I have found that some people don’t realize where and how their money is actually being spent.

7. Pay forward. By that I mean this: When you incur a major credit card debt (e.g., you’ve run a meeting, taken in all the revenue, but the hotel balance is $20,000) start writing checks immediately. If you wrote a $10,000 check at the time to, say, Amex, and then the balance when the actual bill arrived, it’s less of a bite and less chance that you’d spend that first $10,000 elsewhere. Better still: If you can, hold revenues from future events in an escrow account and pay the hotel bill at one time from there. (These are also very important if you are forced to cancel and repay all money already received.)

8. Delegate everything you can. Stop doing your own graphics design, slides, software fixes, bookkeeping, taxes, printing, travel reservations, product fulfillment, and so forth. Have others do it, because the money you spend is paid back one-hundred-fold in free time to devote to marketing and raising your top line. (Do you want YOUR clients doing things themselves that you should be hired to do and you can do faster and better than they?)

9. Don’t “play” the market. Put your long-term investments in the care of professionals. Ask for referrals and references from people who are successful to find the financial advisors who are best for your situation and philosophy. Never accept financial advice from anyone who is also selling a product (insurance, securities, and so on), because their product will always be the “answer.” Just pay for advice or the management fee. Remember that the idea in life is not to make money, but to create value and help people. As George Merck said, “Do good and good will follow.”

© Alan Weiss 2011. All rights reserved.

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Dear Sir

Here’s a recent blog post, I’m told from the Harvard Business Review, sent to me by Alden Ulrich:

Skip the Mr. and Mrs.

“Forget what your parents taught you, it’s not always prudent to use a formal salutation, especially in today’s more informal business world. Addressing people by their first name is now the norm in corporate America. Use first names to address colleagues, clients, and bosses. If you are a junior employee, this will level the playing field so that you are perceived as more of an equal. Confidently addressing people by their first names establishes you as mature and self-assured. If you are a seasoned manager, it will convey accessibility. Today’s workers see hierarchies as stiff and outdated. Demanding that subordinates use a formal title comes off as pompous. Note that this informality is not the global norm—learn the local customs before you travel.”

Adapted from “What’s in a (First) Name” by Jodi Glickman.

If you’re what the writer calls a “junior employee” I’d be a tad careful before calling a senior vice president “Joe” or the general counsel “Katey.” It doesn’t level the playing field, especially in hierarchically staid organizations, but it can brand you as abrasive and pretentious rather quickly.

No one ever got in trouble by showing too much respect. Someone who’s clearly a peer can use your first name. Socially, who cares? (Although I still encounter pompous doctors being introduced at a fund raiser or dinner as “Dr. Johnson,” rather than “Mary Johnson.”) If you’re calling out of the blue and want a favor from me or, heaven forfend, cold calling, once you begin with, “Alan, how are you?” and I don’t know you, you’re pretty much finished.

This is especially true with senior people at clients. They’ll usually say, “Call me Harry,” but give them that option. The problem is, apparently, we’re all forgetting too much of what our parents told us and reading too much of the Harvard Business Review blog.

© Alan Weiss 2011. All rights reserved.

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Return on Investment

An example of the kind of return people who invest in my experiences derive:

Hi Alan

I thought you might be interested in a small recent success.

I have a improvement program that I deliver to accounting firms. I have been generally charging around $50,000 which is quite profitable and I enjoy the work.

I was meeting with the principal of a good-sized firm and I had submitted the proposal but pushed the fee up to $80,000.

You may recall that we did a role-play in Sydney and you nailed me by asking for me to take part of the fee based on success and I became unstuck at that point. Well, the prospect asked exactly the same question. As I had thought a lot about what I should have said (when you asked it), this time the answer just rolled off the tongue!

The client has signed (at $80,000) and the money is in the bank.

Thanks for the rehearsal!

Cheers

Craig Devlin

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Preparing for 2012

What do we know about the coming year? I don’t think it’s too much of a prognosticating leap to suggest:

• Technology omnipresence and extraordinary growth globally, which will permeate every part of our marketing, delivery, and follow-up.

• Entrepreneurial gestalt: A merging of one’s personal and professional life as opposed to compartmentalization.

• Major overseas markets provide increasing potential (no matter where you currently reside).

• The ability to instantly communicate all kinds of content—mobile, right-on-time knowledge.

• Major government changes through both free elections and continuations of popular uprisings.

• Increasing “noise” that must be navigated or dampened in order to extract useful information.

• Increasing stimuli and sources all of which demand time investments, often linked to significant normative pressure.

• The departure of Baby Boomer executives and managers and their replacement by people with often significantly different frames of reference.

• Unpredictable financial markets.

Given these likely volatile changes (especially in combinations), what do your clients need to be successful? What must you do to consult, coach, and advise clients to improve their effectiveness in such environments?

First, there will be dramatically differing skills needed. Example: The ability to develop people globally who are rarely meeting in person is far different from developing people who work down the hall or can be easily called in from the field force.

Second, behaviors will have to be shifted to reflect factors such as real time coaching, customers who demand immediate responsiveness, and a greater consideration for cultural and generational diversity than ever before. Example: How does one act with an outraged important customer who is looking you in the eye on Skype?

Third, intellectual firepower that includes an accurate world view, understanding of true trends (as opposed to fads), and the ability to learn rapidly will be required of leaders at all levels. Example: How quickly can one make decisions about competition, customers, and strategy to allocate resources most efficiently?

Fourth, superb communications skills will be a differentiator for those who excel, both within their organizations and with customers. Example: It will be impossible to lead by “proxy” or from behind a closed door.

Fifth, the ability to brand and demonstrate value will be the key marketing advantage as competition and price sensitivity grow. Customer evangelists, as we’ve seen Apple create, will be strong off-balance-sheet assets. Example: The creation of viral marketing results in huge margins and strong growth.

What are you doing to prepare for what’s likely in 2012 as opposed to trying to repeat what might (or might not) have worked in 2011?

© Alan Weiss 2011. All rights reserved.

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Don’t Expose Me

Here’s a request placed on the web recently, which is all too common:

“I am looking for a speaker to present an hour-long audio conference on: ‘No Pay Raise for You this Year! How to Handle This Conversation with Your Employees.’ Our audience is made up of management and HR professionals across the country. The presentation is delivered virtually, so there’s no need to travel. The speaker will be required to submit a PowerPoint presentation that will be sent to the attendees in advance. While speakers will not be compensated for their participation, these audio conferences can provide them with valuable professional exposure, and we encourage speakers to include contact information in our promotions and in their presentation materials.”

Let me ask you two questions:

1. What successful person would want to share their intellectual property for the gain of a third party in return for dubious “exposure”?

2. What kind of “expert” do you think you’ll attract who is desperately seeking the “E-word” and wants to do this?

The audience is cheated, the quality is low, and the concept is dumb. This is what happens when people want to make money without investing in proper resources and trying to do things “on the cheap.” You get what you pay for, and when you pay nothing you get nothing. Don’t enable this kind of stupidity.

If you’re desperate for “exposure,” leave your windows open.

© Alan Weiss 2011. All rights reserved.

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The Dog Star: Can You Hear Me Now?

(The Dog Star is a symbol of power, will, and steadfastness of purpose, and exemplifies the One who has succeeded in bridging the lower and higher consciousness. – Astrological Definition)

We suspect that Koufax may be getting a bit hard of hearing in his senior years. I say “suspect” because sometimes he seems to hear us perfectly, and other times he may just be ignoring us. From the time he was a puppy, he was always aloof, and sometimes pretends not to hear us. I’ve caught him pretending to be asleep, for example, and when he thinks we’re gone, he opens one eye.

In any case, it’s tough to see him against a background of snow in the winter, and on a freezing night my wife doesn’t want to roam the back of the property trying to find him after his nightly excursion. So she’s purchased a dog whistle, and to my shock, it works. Koufax immediately turns toward the source of the sound, and Buddy Beagle does likewise.

We’ve created a keen appeal to Koufax’s sensory apparatus. He can’t ignore it, doesn’t even try to pretend he doesn’t hear it. It sparks his curiosity.

That’s exactly what we have to do in our branding and marketing efforts: Create an irresistible appeal that strikes a nerve and stands out from the surrounding noise and stimuli.

We need an appeal that only true buyers can hear, and which causes them to turn in our direction.

© Alan Weiss 2011. All rights reserved.

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