turn consulting projects into implementation engagements
DESCRIPTION
The field of consulting is crowded and getting more so each day. The way to win consulting assignments with companies you want to work with is by focusing on them and their needs, not yours. Here are 7 steps to winning and keeping consulting projects.TRANSCRIPT
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Turn Consulting ProjectsInto Implementation Engagements
Institute of Management Consultants: Orange County, CA
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Getting the Green Light
Implementing Your Recommendations
Consulting Engagement
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Consulting IndustryTrends
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82% of US companies plan to continue hiring consultants.
42% plan to increase hiring.
Consulting Industry Trends
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Management consulting expected to grow 8%.
Hot specialties- marketing/ sales, operations, IT.
Consulting Industry Trends
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Strategy consulting has declined as a share of the industry
>20% today vs. 60% 30 years ago.
Consulting Industry Trends
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Fee schedules shifting towards value based
fees vs. per diem fees.
Consulting Industry Trends
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Consulting Industry Trends
While large consultancy firms are consolidating,
the independent consultant segment is exploding.
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Why do companies hire
consultants?
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Top Reasons Why CompaniesHire Consultants
Objective review Problem / crisis resolution Gaps in knowledge/expertise Training staff Access to Resources
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Top Reasons Why Companies DON’T Hire
Consultants Too costly Hard to find the right one Don’t understand the culture Concern over trade secrets Not attentive enough
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Critical steps to achieving consulting engagement
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Engagement Step #1:
Do your research prior to discussing the project opportunity
Do you know why this company
wants a consultant?
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Engagement Step #2:
Focus on the right things during the interview/ negotiation
Do you know what they really want as
an outcome?
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Engagement Step #3:
Demonstrate your unquestionable expertise by asking the right questions
Forward pacing the conversation
focuses on the implications of the
outcome you reach?
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Engagement Step #4:
Use references and/or case studied of similar work to convey fitment
Make it clear that your experience
and background is a perfect match
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Engagement Step #5:
Present a ‘value added’ fee structure
Create an agreement that compels them to keep you on to implement the
solution
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Engagement Step #6:
Get your finger on the pulse of the culture
build inside alliances for
eventual implementation
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Engagement Step #7:
Make sure you can handle the scope of the work required
The decision makers need to see the same person on
the project that sold them the
project
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How to handle a rejection, no answer or a cancelation mid stream
Be persistent but professional with follow-up
Insure you have other connections that can feed you intelligence prior to initial agreement
Keep the discussion on future needs and results
Steve SmithPresidentGrowthSource Coaching
949-951-9163
Practice makes permanent!