Should I Become A Consultant?. Pat E. Goodwin Pat Goodwin Associates [email protected] You ARE One!. You already have an area of expertise. You have functioned often as an internal consultant. You were paid for that service—just not separately billed.
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Should I BecomeA Consultant?
Pat E. Goodwin
Pat Goodwin Associates
An outside independent
Bill for the service
No responsibility for execution
Life Long Learning-You know more than you think you know
Good earning potential
NOT. . .
Solo operator but seek others expertise
Working out of home or low-overhead office
Do I have the ‘right stuff’?
Opportunity to learn
Get help- Other Consultants-Experts
What if I get over my depth?
Functional or technical area(s)
Industry / industries
A “matrixed” specialty?
Collaborate with support group of specialists
The consulting process
Managing your practice
Building your practice
Assessing your personal ‘fit’
Giving (selling) advice professionally.
The Independent Consultant:
A personal service business based on trust.
‘Brain on legs’
Watch where you step!
Meet and qualify the client / issue
Define the agreement
Collect, analyze data-purpose, process, people, personal
Provide recommendations, possibly re-contract
Close-out / follow-up
Start with stated problem: What they think they want may not be what they need
Get to all key stakeholders-Buy in
Get to important information sources
Peel the onion
Pinpoint the core issue
Define a practical solution:
Purpose, Process, People,
Why doesn’t the client do it
What’s really important? To whom?
Follow the work flow (through silos?)
Anything working right? Where? Why?
Where’s resistance coming from? Why?
To all stakeholders
Start with stated problem
Trace the research
Reframe the problem-
Purpose, Process, People, Personal
Get all reactions
Sum up acceptance / resistance
Get closure—or re-contract
Not the consultant’s role! Danger!
Can advise as consultant
Can refer a resource to implement
Can serve as overseer for implementation
May complete the consult
On-going advice may be sought
Probability of follow-on work
Retained for audit / follow-up
References: Ask permission to use work as an example for other projects
Flawless Consulting by Peter Block
Process Consulting by Edgar Schein
The Business of Consulting by Elaine Beich
Other recent books by Elaine Beich
‘A Day in the Life . . .’
What’s the market rate?
What’s my expertise worth?
What’s my income objective?
In Texas today:
Your annual compensation
Divide by 2,000 (hours)
Your accustomed rate per hour
Multiply by 3 for parity
Multiply by 4 for uplift
$100,000 per year is…
$150,000 per year is…
How Do I Get Clients?
- prospects (platinum!!)
- advocates (gold!)
- talkers (silver)
(Save your money)
Validating your credentials
Bio Data Sheet, Business Cards
Display your knowledge, expertise
Professional visibility in the right places
Show your unique style
Frequently add value
Is It Right for You?
Strong drive to make money
Runs a BUSINESS!
Works a niche
Strong belief in self
Focused, Disciplined, Motivated
Comfort with selling
‘Expert power’ drive
‘Expert power’ drive
Rewards of managing
Satisfaction of getting results