How to Leverage Thought Leadership to Build a Consulting Practice

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MBO Partners & Lane Cooper present this seminar for technology and business executives who want to build an independent consulting business. Learn how to develop a profitable business focus, cultivate personal brand, select an operating structure, and successfully market consulting services to clients.

Find more resources for independent professionals at www2.mbopartners.com/ic-resources

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How to Leverage Thought Leadership to Build a Consulting Practice

  1. 1. How to Leverage Thought Leadership to Build a Consulting Practice Lane Cooper Gene Zaino Founder & Principal Director President & CEO Cooper Research Associates MBO Partners Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 1 www.mbopartners.com
  2. 2. The full screen icon maximizes the presentation area. The “raise hand” icon lets us know you have a question. We can unmute your line to discuss the question if you are on a phone line or if you have a microphone plugged into VOIP. The chat box allows you to send a text question. Mac users may be limited to listen only mode. Consulting Made Easy 2 www.mbopartners.com
  3. 3. “We make it easy for independent consultants and their clients to work together” “If you’re thinking about going out on your own, the MBO way is the way to go; just let them handle everything and it will make it easier for you and your client.” Dawn Alexander, Communications Attorney Consulting Made Easy www.mbopartners.com
  4. 4. The Independent Consultant Option Replace: Find employment that is commensurate with talent and experience Reduce: Lower sights, take positions for which you are overqualified Revamp: Launch consulting practice as interim or permanent career strategy Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 4 www.mbopartners.com
  5. 5. Common Fears and Barriers Fear 1: Uncertainty of ability to earn Fear 2: Loneliness…Can I go it alone? Fear 3: Lack of infrastructure and institutional support Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 5 www.mbopartners.com
  6. 6. Getting Started with Business Focus Assessment Your mission? Why? What issues are you interested in solving? Why do these issues make you passionate? Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 6 www.mbopartners.com
  7. 7. Market Challenge Statement Development Issues: What is the problem you seek to address? Consequences: What is the problem costing your potential clients in terms of time, money and human resources ? Validation: Are there proof points/stats that document these problems? Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 7 www.mbopartners.com
  8. 8. General Solution Statement Development Your Consultative Approach: How do you propose to help your clients address this challenge? Anticipated Outcomes: What is the specific list of benefits clients get from working with you? Track Record: How have you secured these benefits in the past? Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 8 www.mbopartners.com
  9. 9. Target Market Analysis Horizontal – Corporate discipline (Marketing, Operations, Finance, etc.) Level – What is is your entry point? (C- level, VP, Director, Management) Vertical – What industries do you serve? (Gov., Financial Services, Manufacturing, Retail, Energy, etc.) Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 9 www.mbopartners.com
  10. 10. Prospect Profile Analysis WHAT DOES YOUR IDEAL PROSPECT LOOK LIKE? Strategic Assessment: What are prospects’ long-term objectives Operational Analysis: Critique of current practices, and alternative options Financial Situation: How does cash position or disposition affect engagement Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 10 www.mbopartners.com
  11. 11. Lead Source Assessment WHERE ARE ORGANIZATIONS AND EXECUTIVES THAT MEET YOUR IDEAL PROSPECT PROFILE? Current Rolodex Key groups and associations Social Networks (Linkedin, etc.) Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 11 www.mbopartners.com
  12. 12. Business Model Options Analysis HOW CAN CLIENTS ENGAGE WITH YOU TO TACKLE THESE CHALLENGES? Project-based (Value-pricing) Hourly-based (Time and materials) Retainer-based (Use it or lose it) Other/Combo? Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 12 www.mbopartners.com
  13. 13. Service Catalog based on Engagement Lifecycle Assessment/Diagnosis General Prescription and Options Roadmap Development Implementation Services and Support Progress and Project Impact Assessment Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 13 www.mbopartners.com
  14. 14. Sales & Marketing Strategy Development Tools Web Site Design and Set Up Collegial Calls --Who are people you know and can bounce potential proposals off of? Cold Calls -- Who are people you do not currently know but would like to bounce potential proposals off of? Lead Generation & Follow-up -- How can we generate leads…and what is our follow-up strategy? Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 14 www.mbopartners.com
  15. 15. Sales & Marketing Strategy Development Tools Media Marketing: What trade press (print and online) does your target market consume? Are there article development opportunities? Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 15 www.mbopartners.com
  16. 16. Collateral Material Options White Papers: Establish your Thought Leadership Position Case Studies: Document best practices Press Releases: Promote your ideas and contributions Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 16 www.mbopartners.com
  17. 17. Leveraging Thought Leadership Webcasts/Podcasts: Leverage for Intelligent and joint Exposure Live Event: Thought Leadership Speaking Opportunities Transitioning: Converting public outreach to private sales presentations Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 17 www.mbopartners.com
  18. 18. Go-to-Market Campaign Topic: Market: Deliverables: Schedule: Desired Outcomes: Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 18 www.mbopartners.com
  19. 19. Blocking and Tackling Accounting/Book Keeping Tax Preparation/CPA Retirement/SEP IRA Insurance Contract Development/Legal Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 19 www.mbopartners.com
  20. 20. Business Structure Options Analysis Sole Proprietorship? LLC / Corp / S Corp? Partnership? MBO Partners? Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 20 www.mbopartners.com
  21. 21. Our Next Webinar Working in Teams to Amplify Your Consulting Business  June 30th, 12:30-1:30 ET  Build your multi-person business  Register via MBO Partners Events page Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 21 www.mbopartners.com
  22. 22. Thanks for joining us! We will send you the replay link. For help with your transition to consulting, contact: Gene Zaino Lane Cooper 1-800-220-0469 415-646-6592 gene@mbopartners.com lane.cooper@cooperresearchassociates.com www.mbopartners.com www.cooperresearchassociates.com Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 22 www.mbopartners.com

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