Turn consulting projects into implementation engagements

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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!