So You Want To Be A Consultant Feb 2009

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For those considering or starting a career as a management consultant.

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  • So You Want To Be A Consultant Feb 2009

    1. 1. Exploring the Second Oldest Profession So – You Want To Be A Consultant?
    2. 2. Agenda <ul><li>Introductions </li></ul><ul><li>Your Expectations for Today </li></ul><ul><li>Intro To Consulting </li></ul><ul><ul><li>What Is Consulting? </li></ul></ul><ul><ul><li>Is it right for you? </li></ul></ul><ul><li>Basic Consulting Skills </li></ul><ul><li>Taking care of business </li></ul><ul><ul><li>Designing your product </li></ul></ul><ul><ul><li>Crafting your value proposition </li></ul></ul><ul><ul><li>Business metrics </li></ul></ul><ul><ul><li>Tools for your business </li></ul></ul><ul><li>Corporate Structures </li></ul><ul><ul><li>Sole practitioner to big firm </li></ul></ul><ul><li>Staying in business </li></ul><ul><ul><li>Business Issues </li></ul></ul><ul><ul><li>Tax, Legal and Insurance </li></ul></ul><ul><li>Professional Associations and Designations </li></ul><ul><ul><li>CMC Canada </li></ul></ul><ul><li>Q&A </li></ul>
    3. 3. <ul><li>Management consulting is estimated to be a $10.3 billion industry in Canada </li></ul><ul><li>Expected growth: 5.5% annual growth rate in Canadian consulting market through 2010, reaching 11.49 billion by 2010 </li></ul><ul><li>The smallest sector, HR, is still $852 million </li></ul><ul><li>Nature of work is diversified, ranging from strategic planning, corporate development, marketing, business process to HR and IT; functions within the private and public sectors </li></ul><ul><li> so how does one get one’s fair share of the action? </li></ul>The Context www.cmc-canada.ca The Kennedy Information Study – 2007
    4. 4. Three Level Approach <ul><li>Presentation of the topic </li></ul><ul><li>Interaction (during and with a networking session) </li></ul><ul><li>Demonstrations of consulting techniques and approaches </li></ul>Because consulting is learned by watching and working with consultants..
    5. 5. <ul><li>Take a piece of paper. Divide it up into five sections: </li></ul><ul><li>My challenges – list the things that you feel are your obstacles and challenges </li></ul><ul><li>My Learning – things I learned and want to remember </li></ul><ul><li>I’m interested – things that you found most interesting. Did we spend enough time? </li></ul><ul><li>Not interesting – we could have skipped this. Did we spend too much time? </li></ul><ul><li>Questions? </li></ul><ul><li>Name and email (optional) </li></ul>To Get The Most Out Of Today
    6. 6. Please allow me to introduce myself… <ul><li>A consulting veteran with over 30 years of experience in both senior business and IT roles </li></ul><ul><li>His consulting career has included roles as Global Vice President for DMR Consulting and Principal at Ernst & Young. </li></ul><ul><li>Expert in a number of consulting disciplines including Strategy, CRM, Performance Metrics, Lean & Six Sigma, Portfolio Management, Program Planning </li></ul><ul><li>Passionate about leveraging people, processes and technology to enable high performance teams – pioneer in virtual teams </li></ul><ul><li>Clients include Fortune 500 and some of Canada’s most successful entrepreneurs </li></ul><ul><li>Lectured at universities – private and public – around the world </li></ul><ul><li>President of the largest consulting group in North America – Toronto chapter of CMC Canada </li></ul><ul><li>Jim Love, FCMC </li></ul>
    7. 7. Performance Advantage – Chelsea Consulting <ul><li>A Canadian Consulting company with international reach </li></ul><ul><li>Focusing on helping public and private sector organizations achieve breakthrough levels of performance </li></ul><ul><li>Strategy, Process Transformation, Leveraging Technology </li></ul><ul><li>Hi Tech, Telco, Health Care, Natural Resources </li></ul><ul><li>Passionate about sustainability and new business models </li></ul><ul><li>A growing set of services for entrepreneurial and service businesses </li></ul>Where we’ve worked... Public Sector & Not For Profit
    8. 8. What we do… <ul><li>Help business leaders </li></ul><ul><ul><li>Develop strategies and validate their strategic programs </li></ul></ul><ul><ul><li>Make and implement tough strategic decisions </li></ul></ul><ul><ul><li>Help plan and implement key strategic programs </li></ul></ul><ul><ul><li>Build teams that deliver lasting results </li></ul></ul><ul><ul><li>By researching and bringing targeted solutions to key business challenges </li></ul></ul>
    9. 9. We Believe Process Transformation • Project Excellence • Performance Metrics Breakthrough performance is possible… Transformation is possible…
    10. 10. Our Expertise
    11. 11. What do you want to get out of this? What would you like to take away from this session? ??? Objectives
    12. 12. And your expectations? Turn to the person next to you – or another person and ask them the question – “ What do you want to get out of this session?” Write down what they say… ??? Excercise
    13. 13. And your expectations? Now – play it back to them… (Take turns) ??? Excercise
    14. 14. Observations <ul><li>Did you feel the other person captured the your objective as you had said it? </li></ul><ul><li>Did you feel they really understood you? </li></ul><ul><li>Were they more eager to talk about their objective or your objective? </li></ul>
    15. 15. What I Want To Get Out Of This.. <ul><li>I want to help people who want to have a career in consulting – payback for what I’ve received </li></ul><ul><li>Share my pride in this unique and rewarding profession </li></ul><ul><li>Recognition as a leader in this industry </li></ul><ul><li>Learn – from preparing and from your input </li></ul><ul><li>Make networking contacts that can lead to clients or to discover new talent for our organization </li></ul><ul><li>Enlist people to collaborate on development of a consultant’s toolkit </li></ul>
    16. 16. What did we just learn? <ul><li>You never have a meeting without surfacing what EVERYONE wants to get out of it </li></ul><ul><li>I open and close each meeting with this </li></ul><ul><li>There is a risk – but its better than not knowing that you aren’t reaching people </li></ul><ul><li>At each meeting you must aim for a mutual exchange of value </li></ul>
    17. 17. And your expectations? Turn back to your neighbour Regardless of how well you did – ask them… What is one thing I could have done better? Courtesy: Dave Howlett ??? Excercise
    18. 18. Consulting Is About Relationships Relationships are based on a mutual exchange of value. Whether the exchange of value is mutual is a matter of perception There are learned behaviours, skills and techniques to affect that perception It starts with the realization that it’s not about you You get better at it by asking and applying one thing at a time
    19. 19. What Is Consulting?
    20. 20. The Second Oldest Profession? Torn from the comic pages…
    21. 21. An Honourable Profession Consulting is a collaboration between the consultant and the client which solves one or more challenges faced by the client to the mutual benefit of both parties.
    22. 22. An Honourable Profession Consulting is a collaboration between the consultant and the client which solves one or more challenges faced by the client to the mutual benefit of both parties.
    23. 23. An Honourable Profession Consulting is a collaboration between the consultant and the client which solves one or more challenges faced by the client to the mutual benefit of both parties.
    24. 24. An Honourable Profession Consulting is a collaboration between the consultant and the client which solves one or more challenges faced by the client to the mutual benefit of both parties.
    25. 25. An Honourable Profession Consulting is a collaboration between the consultant and the client which solves one or more challenges faced by the client to the mutual benefit of both parties.
    26. 26. What Is A Consultant? Give us a term which is synonymous with Consultant or is a characteristic of a consultant. See how many words you can come up with in one minute. ??? Consulting
    27. 27. Many different meanings… <ul><li>Advisor </li></ul><ul><li>Confessor </li></ul><ul><li>Confidant </li></ul><ul><li>Expert </li></ul><ul><li>Negotiator </li></ul><ul><li>Mediator </li></ul><ul><li>Change agent </li></ul><ul><li>Project manager </li></ul><ul><li>Solution architect </li></ul><ul><li>Problem solver </li></ul><ul><li>Assistant </li></ul><ul><li>Jack of all trades </li></ul><ul><li>Cheerleader </li></ul><ul><li>Resource </li></ul><ul><li>Facilitator </li></ul><ul><li>Visionary </li></ul>
    28. 28. Making sense of the many roles Expertise Efficiency Experience Client Problem Source: David Maister, Managing the Professional Services Firm
    29. 29. <ul><li>Expertise </li></ul><ul><li>Frontier </li></ul><ul><li>New solutions </li></ul><ul><li>One off </li></ul><ul><li>High degree of expertise </li></ul><ul><li>Rates: </li></ul><ul><li>Premium Price </li></ul><ul><li>Security </li></ul><ul><li>Easy to sell </li></ul><ul><li>Negative </li></ul><ul><li>Barriers to entry </li></ul><ul><li>Liability issues </li></ul><ul><li>Substitutes </li></ul>
    30. 30. <ul><li>Experience </li></ul><ul><li>Clients who have a problem but don’t want to start with a blank sheet of paper </li></ul><ul><li>Skills and experience </li></ul><ul><li>Pro: </li></ul><ul><li>Fewer entry barriers </li></ul><ul><li>Leverage can help rates </li></ul><ul><li>Negative </li></ul><ul><li>Little security </li></ul><ul><li>Commoditization and rate pressure </li></ul><ul><li>Expertise </li></ul><ul><li>Frontier </li></ul><ul><li>New solutions </li></ul><ul><li>One off </li></ul><ul><li>High degree of expertise </li></ul><ul><li>Pro: </li></ul><ul><li>Premium Price </li></ul><ul><li>Security </li></ul><ul><li>Easy to sell </li></ul><ul><li>Negative </li></ul><ul><li>Barriers to entry </li></ul><ul><li>Liability issues </li></ul><ul><li>Substitutes </li></ul>
    31. 31. <ul><li>Efficiency </li></ul><ul><li>Low risk, familiar problems </li></ul><ul><li>Cost effective solution </li></ul><ul><li>Requires: </li></ul><ul><li>Productivity, process </li></ul><ul><li>Automation and tools </li></ul><ul><li>Pro: </li></ul><ul><li>Flexibility </li></ul><ul><li>Most leverage </li></ul><ul><li>Negative </li></ul><ul><li>Difficulty in differentiation </li></ul><ul><li>Lowest rate </li></ul><ul><li>Experience </li></ul><ul><li>Don’t want to start with a blank sheet of paper </li></ul><ul><li>Repeatable </li></ul><ul><li>Requires: </li></ul><ul><li>Skills and experience </li></ul><ul><li>Pro: </li></ul><ul><li>Fewer entry barriers </li></ul><ul><li>Leverage can help rates </li></ul><ul><li>Negative </li></ul><ul><li>Little security </li></ul><ul><li>Commoditization and rate pressure </li></ul><ul><li>Expertise </li></ul><ul><li>Frontier </li></ul><ul><li>New solutions </li></ul><ul><li>One off </li></ul><ul><li>Requires: </li></ul><ul><li>High degree of expertise </li></ul><ul><li>Pro: </li></ul><ul><li>Premium Price </li></ul><ul><li>Security </li></ul><ul><li>Easy to sell </li></ul><ul><li>Negative </li></ul><ul><li>Barriers to entry </li></ul><ul><li>Liability issues </li></ul><ul><li>Substitutes </li></ul>
    32. 32. Product Leadership Customer Intimacy Operational Excellence Known for: “Best total cost” Known for: “Best total solution” Known for: “best product” Skills: Product Differentiation Skills: Customer Response Skills: Operational Competence Disciplines of market leaders – Treacy, Wiersma
    33. 33. Why Are You Interested? What do you want to get out of consulting? Turn over that piece of paper – write down three goals ??? Consulting
    34. 34. Quick Review
    35. 35. There’s no life like it! <ul><li>The second oldest profession </li></ul><ul><li>A most honourable and satisfying calling: </li></ul><ul><ul><li>Help </li></ul></ul><ul><ul><li>Objective advice </li></ul></ul><ul><ul><li>Problem solving </li></ul></ul><ul><ul><li>Synthesis </li></ul></ul><ul><li>Consulting versus other disciplines (expert, contract work, etc.) </li></ul><ul><li>Not for everyone – but how do you know if it’s right for you? </li></ul>
    36. 36. A Personal Strategy <ul><li>What am I passionate about? </li></ul><ul><li>What can I beat the world at? </li></ul><ul><li>What are the metrics that drive that business? </li></ul>Jim Collins, “Good To Great”
    37. 37. What do you want to be famous for? David Maister – Managing the Professional Services Firm
    38. 38. <ul><li>Efficiency </li></ul><ul><li>Low risk, familiar problems </li></ul><ul><li>Cost effective solution </li></ul><ul><li>Requires: </li></ul><ul><li>Productivity, process </li></ul><ul><li>Automation and tools </li></ul><ul><li>Pro: </li></ul><ul><li>Flexibility </li></ul><ul><li>Most leverage </li></ul><ul><li>Negative </li></ul><ul><li>Difficulty in differentiation </li></ul><ul><li>Lowest rate </li></ul><ul><li>Experience </li></ul><ul><li>Don’t want to start with a blank sheet of paper </li></ul><ul><li>Repeatable </li></ul><ul><li>Requires: </li></ul><ul><li>Skills and experience </li></ul><ul><li>Pro: </li></ul><ul><li>Fewer entry barriers </li></ul><ul><li>Leverage can help rates </li></ul><ul><li>Negative </li></ul><ul><li>Little security </li></ul><ul><li>Commoditization and rate pressure </li></ul><ul><li>Expertise </li></ul><ul><li>Frontier </li></ul><ul><li>New solutions </li></ul><ul><li>One off </li></ul><ul><li>Requires: </li></ul><ul><li>High degree of expertise </li></ul><ul><li>Pro: </li></ul><ul><li>Premium Price </li></ul><ul><li>Security </li></ul><ul><li>Easy to sell </li></ul><ul><li>Negative </li></ul><ul><li>Barriers to entry </li></ul><ul><li>Liability issues </li></ul><ul><li>Substitutes </li></ul>
    39. 39. <ul><li>Efficiency </li></ul><ul><li>Low risk, familiar problems </li></ul><ul><li>Cost effective solution </li></ul><ul><li>Requires: </li></ul><ul><li>Productivity, process </li></ul><ul><li>Automation and tools </li></ul><ul><li>Pro: </li></ul><ul><li>Flexibility </li></ul><ul><li>Most leverage </li></ul><ul><li>Negative </li></ul><ul><li>Difficulty in differentiation </li></ul><ul><li>Lowest rate </li></ul><ul><li>Experience </li></ul><ul><li>Don’t want to start with a blank sheet of paper </li></ul><ul><li>Repeatable </li></ul><ul><li>Requires: </li></ul><ul><li>Skills and experience </li></ul><ul><li>Pro: </li></ul><ul><li>Fewer entry barriers </li></ul><ul><li>Leverage can help rates </li></ul><ul><li>Negative </li></ul><ul><li>Little security </li></ul><ul><li>Commoditization and rate pressure </li></ul><ul><li>Expertise </li></ul><ul><li>Frontier </li></ul><ul><li>New solutions </li></ul><ul><li>One off </li></ul><ul><li>Requires: </li></ul><ul><li>High degree of expertise </li></ul><ul><li>Pro: </li></ul><ul><li>Premium Price </li></ul><ul><li>Security </li></ul><ul><li>Easy to sell </li></ul><ul><li>Negative </li></ul><ul><li>Barriers to entry </li></ul><ul><li>Liability issues </li></ul><ul><li>Substitutes </li></ul>Can you see this as the most interesting thing you could do for the next 3 to 5 years?
    40. 40. What do you want to be famous for? David Maister – Managing the Professional Services Firm
    41. 41. Do You Have The Desire What do you want to be famous for? Turn to your neighbour and tell them… David Maister – Managing the Professional Services Firm ??? Me
    42. 42. What’s Your Asset – Your Balance Sheet <ul><li>Assets </li></ul><ul><li>________________ </li></ul><ul><li>________________ </li></ul><ul><li>________________ </li></ul><ul><li>________________ </li></ul><ul><li>________________ </li></ul><ul><li>________________ </li></ul><ul><li>Liabilities </li></ul><ul><li>________________ </li></ul><ul><li>________________ </li></ul><ul><li>________________ </li></ul><ul><li>________________ </li></ul><ul><li>________________ </li></ul><ul><li>________________ </li></ul>
    43. 43. IF <ul><li>You feel insecure about finances and need something steady and reliable </li></ul><ul><li>You need structure, supervision and a clear process </li></ul><ul><li>You can’t take it when you lose </li></ul><ul><li>You don’t understand why people are so stupid </li></ul><ul><li>You have brilliant ideas but just can’t sell them to anyone… </li></ul><ul><li>You could take it or leave it.. </li></ul>Consulting might not be right for you…
    44. 44. IF <ul><li>You get a real charge out of helping people solve problems </li></ul><ul><li>People confide in you because you can keep your mouth shut </li></ul><ul><li>You are a self-starter </li></ul><ul><li>When you lose you just want to learn why </li></ul><ul><li>You can deal with financial uncertainty </li></ul><ul><li>Whenever you are around, people get great ideas </li></ul><ul><li>People consider you a great mediator, facilitator </li></ul><ul><li>You like to hear other people’s story </li></ul><ul><li>You think it’s normal to eat in a fine restaurant and from a vending machine in the same day … </li></ul>Consulting might be your thing…
    45. 45. Gimme A Break! I will resume in 19 minutes and 30 seconds – exactly! Invest 10 minutes – Find someone you don’t know and compare notes…
    46. 46. <ul><li>Take a piece of paper. Divide it up into five sections: </li></ul><ul><li>My challenges – list the things that you feel are your obstacles and challenges </li></ul><ul><li>My Learning – things I learned and want to remember </li></ul><ul><li>I’m interested – things that you found most interesting. Did we spend enough time? </li></ul><ul><li>Not interesting – we could have skipped this. Did we spend too much time? </li></ul><ul><li>Questions? </li></ul><ul><li>Name and email (optional) </li></ul>To Get The Most Out Of Today
    47. 47. And your goals… <ul><li>Go ahead – reveal something about yourself! </li></ul><ul><li>But more importantly, find out about someone else! </li></ul>
    48. 48. You’re Back
    49. 49. What have we done?
    50. 50. Agenda <ul><li>Introductions </li></ul><ul><li>Your Expectations for Today </li></ul><ul><li>Intro To Consulting </li></ul><ul><ul><li>What Is Consulting? </li></ul></ul><ul><ul><li>Is it right for you? </li></ul></ul><ul><li>Basic Consulting Skills </li></ul><ul><li>Taking care of business </li></ul><ul><ul><li>Designing your product </li></ul></ul><ul><ul><li>Crafting your value proposition </li></ul></ul><ul><ul><li>Business metrics </li></ul></ul><ul><ul><li>Tools for your business </li></ul></ul><ul><li>Corporate Structures </li></ul><ul><ul><li>Sole practitioner to big firm </li></ul></ul><ul><li>Staying in business </li></ul><ul><ul><li>Business Issues </li></ul></ul><ul><ul><li>Tax, Legal and Insurance </li></ul></ul><ul><li>Professional Associations and Designations </li></ul><ul><ul><li>CMC Canada </li></ul></ul><ul><li>Q&A </li></ul>
    51. 51. Can you SELL it? They wouldn’t listen to the fact that I was a genius, The man said they had all that they could use. Now I got the steadily depressing No count mind messin’ Workin’ in the car wash blues….. Jim Croce
    52. 52. Taking Care Of Business “ I’m doing a great job of Selling – my customers are doing a lousy job of Buying !”
    53. 53. People Don’t Buy Drills (Mark Langlois) Name one of your key products/services: Five Problems That It Solves: Problem 1: Problem 2: Problem 3: Problem 4: Problem 5: Source: The Spin Selling Fieldbook
    54. 54. Taken from the point of view of a real potential customer (segment) – what is the real view they would have of The attributes of your service? Be honest! It’s their perception that counts! Try to do one of these for your competitors…
    55. 55. <ul><li>Try it out on friends and acquaintances </li></ul><ul><li>Make it a sincere no selling consultation </li></ul><ul><li>Take careful notes </li></ul><ul><li>Ask for tough comments </li></ul><ul><li>No defensiveness </li></ul><ul><li>Make careful notes </li></ul>
    56. 56. Help them by pushing the point… Is there one thing I could have done better?
    57. 57. Sit down. Shut up. And Sell! Sales is a process that anyone can learn. It involves connecting, listening and learning… People who follow a process have the greatest overall improvement in success rates.
    58. 58. Adding Your Own SPIN <ul><li>A brief introduction where you state your credentials is a good idea. But after that you want to be in question mode. The best sales people use a process. I prefer SPIN: </li></ul><ul><li>Situation </li></ul><ul><li>Problem </li></ul><ul><li>Implications </li></ul><ul><li>Need Satisfaction </li></ul>Spin Selling - Huthwaite
    59. 59. The Buying Process Unaware Contemplating Planning Action Sold and Serving Advocacy Cal Harrison – BEYOND Referrals
    60. 60. Finding Leads <ul><li>The good leads… </li></ul><ul><li>Gaining profile </li></ul><ul><li>Networking </li></ul><ul><li>Research </li></ul><ul><li>Qualification </li></ul><ul><li>MAD (Money, Authority and Desire) </li></ul><ul><li>The 3% factor </li></ul>Whether it’s networking or marketing, those who give away something of value attract interest.
    61. 61. Building Awareness <ul><li>Speaking </li></ul><ul><li>Coaching </li></ul><ul><li>Volunteering </li></ul><ul><li>Networking </li></ul><ul><li>Newsletters </li></ul><ul><li>Forums </li></ul><ul><li>Webcasts </li></ul>Remember that awareness building is not selling! You need to deliver real value. That takes work, planning and tenacity! therealjimlove.wordpress.com
    62. 62. Virtual Networking A copy of this presentation will be available on my Linked In page.
    63. 63. It’s about managing a funnel…. We start with a large number of initial opportunities…
    64. 64. It’s about managing a funnel…. These are qualified and weeded out (or we are). We learn from these.
    65. 65. It’s about managing a funnel…. Until we progress to the “wins”. We live from these!
    66. 66. STOP LOSING LEADS! You need to put a system in place to actively manage the leads that you collect. We use a CRM product which we also host for small businesses. Start small and keep track!
    67. 67. Summary <ul><li>Find a way to solve a problem better than anyone else </li></ul><ul><li>Validate the size and importance of the problem – and the resonance of your solution </li></ul><ul><li>Build awareness – give to get </li></ul><ul><li>Manage opportunities – find the 3% </li></ul><ul><li>Learn from failure, leverage success </li></ul><ul><li>Never lose a lead </li></ul>Want to learn more? Performance Advantage is hosting a special workshop on Sales for Consultants entitled “Make Your Own Rain” (Late Feb/Early March 2009)
    68. 68. How do you measure up?
    69. 69. Strategy <ul><li>What am I passionate about? </li></ul><ul><li>What can I beat the world at? </li></ul><ul><li>What are the metrics that drive that business? </li></ul>Jim Collins, “Good To Great”
    70. 70. Metrics – More Questions Than Answers <ul><li>What does an assignment look like? </li></ul><ul><li>What resources does it take to do it? </li></ul><ul><li>How many hours will it take to do each step? </li></ul><ul><li>How much do I need to charge? </li></ul><ul><li>How much can I charge? </li></ul><ul><li>How many of these can I do realistically in a year? </li></ul><ul><li>How much time will be spent in NON BILLABLE TIME? </li></ul>
    71. 71. An Assignment Plan - CRM Process Transformation • Project Excellence • Performance Metrics Analyze Configure Implement Discovery <ul><li>On site </li></ul><ul><li>First hand observation </li></ul><ul><li>Detailed look at processes </li></ul><ul><li>Contact data </li></ul><ul><li>Workflow – internal & external </li></ul><ul><li>Reporting (what you produce) </li></ul>Requirements Definition <ul><li>Agile development </li></ul><ul><li>Prototyping </li></ul><ul><li>Focus on how the system is used </li></ul><ul><li>Some documentation of calculations and workflow </li></ul>Customization <ul><li>Detailed configuration </li></ul><ul><li>Use the Sugar Studio </li></ul><ul><li>Very little (if any) coding is required </li></ul>Integration (Interfaces) <ul><li>Integration with existing systems </li></ul><ul><li>RPS handles this section (with our assistance) </li></ul><ul><li>Work with your IT group to understand the existing system and structures </li></ul>Data Conversion <ul><li>ETL process </li></ul><ul><li>Understanding the data </li></ul><ul><li>Transformation is done mostly by Sugar </li></ul><ul><li>Write scripts to do transformations </li></ul><ul><li>Cleaning and removing of duplication </li></ul><ul><li>Load and verify </li></ul>Validation and Testing <ul><li>Train the initial group that will validate the system </li></ul><ul><li>Get them involved in the initial validation with real data </li></ul>Implementation and Training <ul><li>Full training of the staff </li></ul><ul><li>Standard user, training, management and additional administrator training </li></ul><ul><li>Support for initial implementation </li></ul>
    72. 72. Implementation Timing Process Transformation • Project Excellence • Performance Metrics 1 day 1 day 3 days TBD 5 days+? 3 days TBD 2- 3 days 3 Days Discovery <ul><li>On site </li></ul><ul><li>First hand observation </li></ul><ul><li>Detailed look at processes </li></ul><ul><li>Contact data </li></ul><ul><li>Workflow – internal & external </li></ul><ul><li>Reporting (what you produce) </li></ul>Requirements Definition <ul><li>Agile development </li></ul><ul><li>Prototyping </li></ul><ul><li>Focus on how the system is used </li></ul><ul><li>Some documentation of calculations and workflow </li></ul>Customization <ul><li>Detailed configuration </li></ul><ul><li>Use the Sugar Studio </li></ul><ul><li>Very little (if any) coding is required </li></ul>Integration (Interfaces) <ul><li>Integration with existing systems </li></ul><ul><li>RPS handles this section (with our assistance) </li></ul><ul><li>Work with your IT group to understand the existing system and structures </li></ul>Data Conversion <ul><li>ETL process </li></ul><ul><li>Understanding the data </li></ul><ul><li>Transformation is done mostly by Sugar </li></ul><ul><li>Write scripts to do transformations </li></ul><ul><li>Cleaning and removing of duplication </li></ul><ul><li>Load and verify </li></ul>Validation and Testing <ul><li>Train the initial group that will validate the system </li></ul><ul><li>Get them involved in the initial validation with real data </li></ul>Implementation and Training <ul><li>Full training of the staff </li></ul><ul><li>Standard user, training, management and additional administrator training </li></ul><ul><li>Support for initial implementation </li></ul>
    73. 73. Lean Road Map
    74. 74. What Can I Charge? <ul><li>In order to determine WHAT you can charge, you need to know HOW you are going to charge. </li></ul><ul><li>There are three basic methods of charging fees – </li></ul><ul><li>Time and materials or T&M – where you are paid for your time and expenses </li></ul><ul><li>Deliverables based payment – you are paid based on delivery of pre-defined results, often called “deliverables”. </li></ul><ul><li>Fixed Price – A flat fee for the entire job. </li></ul>Avoid surprises. Keep your own plan and track against it. File weekly time reporting with accomplishments, issues and projections. Try to bill regularly, e.g. monthly
    75. 75. What Can I Charge? <ul><li>In order to determine WHAT you can charge, you need to know HOW you are going to charge. </li></ul><ul><li>There are three basic methods of charging fees – </li></ul><ul><li>Time and materials or T&M – where you are paid for your time and expenses </li></ul><ul><li>Deliverables based payment – you are paid based on delivery of pre-defined results, often called “deliverables”. </li></ul><ul><li>Fixed Price – A flat fee for the entire job. </li></ul>Define the contents of deliverables and approval criteria. Watch our for “approvals” – we limited time and iterations. Have a clear process. Try to get partial payment
    76. 76. What Can I Charge? <ul><li>In order to determine WHAT you can charge, you need to know HOW you are going to charge. </li></ul><ul><li>There are three basic methods of charging fees – </li></ul><ul><li>Time and materials or T&M – where you are paid for your time and expenses </li></ul><ul><li>Deliverables based payment – you are paid based on delivery of pre-defined results, often called “deliverables”. </li></ul><ul><li>Fixed Price – A flat fee for the entire job. </li></ul>Only if you are absolutely sure. Define measurable success criteria. Ensure that all assumptions and pre-requisite conditions are stated. Document each. Often used for first assignments. Have a contingency or be prepared to lose money.
    77. 77. What Can I Charge? <ul><li>A. How much do I need to make per year to make my target income? </li></ul><ul><li>B. Expenses? </li></ul><ul><li>C. How many days a year can I work? </li></ul><ul><li>D. What are my reasonable expectations for the number of days I won’t work? Consider: </li></ul><ul><ul><li>Sales </li></ul></ul><ul><ul><li>Marketing </li></ul></ul><ul><ul><li>Personal Development </li></ul></ul><ul><ul><li>Between Assignments </li></ul></ul><ul><ul><li>Sick Days </li></ul></ul>Rate = (A + B) / (C – D) <ul><li>Other factors </li></ul><ul><li>Market conditions </li></ul><ul><li>Competitive rates and positioning </li></ul><ul><li>Experience level </li></ul><ul><li>Desirability of the client </li></ul>
    78. 78. Some Observations <ul><li>Reality check – what is the client’s risk adjusted rate of return? I use the 7X Rule as a minimum </li></ul><ul><li>Discounts – their way of discovering the real price. The only time I discount, I get something back. You almost never recover losses in the next phase. </li></ul><ul><li>Profit and satisfaction – it’s easier to give extraordinary service to a client when you are making money. </li></ul><ul><li>Losing money isn’t solved by volume. It’s solved when revenue exceeds costs. </li></ul>
    79. 79. Know Your Metrics <ul><li>Set goals </li></ul><ul><li>Measure </li></ul><ul><li>Track your key metrics </li></ul><ul><ul><li>Opportunity close rate </li></ul></ul><ul><ul><li>Account profitability </li></ul></ul><ul><ul><li>Non-billable time </li></ul></ul><ul><ul><li>Revenue per consultant </li></ul></ul><ul><ul><li>Utilization </li></ul></ul><ul><ul><li>Client satisfaction </li></ul></ul><ul><ul><li>Accounts receivable </li></ul></ul><ul><ul><li>Cash flow </li></ul></ul>
    80. 80. Tools For Your Business ??? What Do I Need
    81. 81. What do you need to do ? <ul><li>Track leads </li></ul><ul><li>Managed contacts and calls </li></ul><ul><li>Opportunities </li></ul><ul><li>Newsletters and mass contact </li></ul><ul><li>Phones and voice </li></ul><ul><li>Documents, spreadsheets and presentations </li></ul><ul><li>Process mapping </li></ul><ul><li>Time keeping </li></ul><ul><li>Project management </li></ul><ul><li>Billing </li></ul><ul><li>Meetings </li></ul><ul><li>Website </li></ul><ul><li>Webcasts </li></ul><ul><li>Messaging </li></ul><ul><li>Collaboration </li></ul><ul><li>Email </li></ul><ul><li>Networking </li></ul>
    82. 82. Intranet Components Case Managements Document Management Wiki for Manuals Content Management Time and Projects s Chat Home Page CRM Direct access from anywhere on network. Secure and password protected wherever desired Customer Portal Contacts, Leads, Calls, History
    83. 83. Leveraging The Internet From affordable webcasting, to social networks, to new email networks to the phones we use. We have a sophisticated tools that are very cheap to own and operate.
    84. 84. An Opportunity <ul><li>Help us define the right collaboration suite for consultants </li></ul><ul><li>Provide yourself with a toolset </li></ul><ul><li>Provide your clients with a base for their virtual work and collaboration </li></ul>See me after the presentation if you are interested in collaborating on this
    85. 85. You Inc.? <ul><li>There are many different ways to work as a consultant: </li></ul><ul><ul><li>Sole practitioner </li></ul></ul><ul><ul><li>Entrepreneurial firms </li></ul></ul><ul><ul><li>Agencies </li></ul></ul><ul><ul><li>Employee in small, medium or large firm </li></ul></ul><ul><li>Each has pluses, minuses and pitfalls </li></ul>
    86. 86. Staying In Business <ul><li>Legal* (*I am not a lawyer) </li></ul><ul><ul><li>Incorporate or not </li></ul></ul><ul><ul><li>Legal forms and non-disclosures </li></ul></ul><ul><li>Insurance* (*I don’t sell insurance) </li></ul><ul><li>Billing and Accounting* (*I’m not an accountant) </li></ul><ul><li>Planning and Strategy* (*Finally!) </li></ul><ul><li>Oh, Yes…Save Your Files and Backup Your Data </li></ul>
    87. 87. You are not in this alone! CMC Canada Is There With You! <ul><li>Affinity programs </li></ul><ul><li>Insurance </li></ul><ul><li>Code of ethics </li></ul><ul><li>Continuing professional development </li></ul><ul><li>Networking </li></ul><ul><ul><li>Partnerships </li></ul></ul><ul><ul><li>Information </li></ul></ul><ul><ul><li>Help </li></ul></ul>
    88. 88. What I Want From You <ul><li>How did it go? What grabbed you? What didn’t? </li></ul><ul><li>What was most useful? </li></ul><ul><li>What were the three most important things that you got from this? </li></ul><ul><li>See me or Peter if you are interested in participating in the development of the collaboration suite. </li></ul>Send me an email with this information and questions about anything you heard here today. I’ll send you a copy of “Stop Losing Leads” jim.love@performanceadvantage.ca
    89. 89. Where to from here? <ul><li>Check out CMC Canada – a great networking organization for consultants. Representatives are here today. </li></ul><ul><li>Interested in participating in the consultant suite pilot ? See Peter or me. </li></ul><ul><li>Jim’s course on “ Building A Consulting Practice ” will be offered later in February. Currently negotiating with the University of Waterloo </li></ul><ul><li>Contact me separately for: </li></ul><ul><ul><li>Online coaching and networking group for consultants – jim.love9595 Skype Beta </li></ul></ul><ul><ul><li>Personal coaching contact me separately </li></ul></ul><ul><li>And of course – there’s lots of valuable things available for free: </li></ul><ul><ul><ul><li>www.performanceadvantage.ca </li></ul></ul></ul><ul><ul><ul><li>www.therealjimlove.wordpress.com </li></ul></ul></ul>
    90. 90. Questions & Discussion

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