Management Consulting Blog

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Business Development  ( 9 )

Consultants to Work With  ( 5 )

Consulting Tips  ( 4 )

Management Consulting  ( 16 )

The Network  ( 7 )

What's the Dif  ( 5 )

The Management Consultant Sourcing Paradox

In an era of off-shoring, down-sizing, and other cost-reduction and profit maximization efforts, it is hard to reconcile the practices of many companies when it comes to sourcing management consultants.  

As the workforce continues to shift, it is estimated that by the year 2020 contingent workers (freelancers, consultants, contractors, etc.) will make up 40% of the workforce.  That is unprecedented in terms of proportion and numbers.  More companies are relying on these transient workers to provide the skills needed to operate.  

As the utilization of management consultants increases so does the line-item expense associated.  That should be no surprise.  What is surprising is that the cost of contracting through third parties has gone unchallenged.  The costs we’re talking about are the fees that are in addition to the consultant’s rate –what the agency or consulting firm exacts above and beyond what is paid the consultant.   

Let me illustrate with a real-world example where a colleague of mine (I’ll call him “Rick”) obtained consulting work at a major pharmaceutical company through an agency.   The company paid an hourly rate of $210 to the agency.  Rick’s portion of that was $110/hour, paid by the agency.   The agency’s portion (48%) is in the lower third of the historical customary range of 40% - 70% that these third parties exact, so keep in mind our example is a conservative one.   

On the surface, this seems all fine and well, assuming Rick is happy with the $110/hour rate and the client is okay with a $210/hour fee.  Procurement and finance professionals, as fiscal custodians, have overlooked the excessive costs to engage these third parties.  In our case study, that cost is $100 per hour, $800 a day, $4,000 a week, $16,000 a month, and $176,000 per year!  For one consultant!  That is over $1 million a year in agency fees for just six full-time consultants.  No wonder there are so many agencies and consulting firms. 

I am certainly not arguing to deprive a business of profit.  Furthermore, “pricing what the market will bear” should be expected.  On the other hand, the market appears to be bearing more than it needs to when there are alternatives in the consultant sourcing market that offer far higher value.

The question is, when will procurement and finance professionals realize there is great opportunity in utilizing low-overhead, web-based sources for engaging management consultants?


About MyNextConsultant

MyNextConsultant.com is a web-based source for on-demand talent, supplying companies with experienced management consultants –specifically, independent and small-practice consultancies with ten years or more experience in industry who help companies strategize, plan, and improve their businesses.

The Market is Demanding Change

Not sure of web-based sourcing for your expert and management consultant needs?  You don’t have to take our word for it.  See what others have to say about the shift in the management consulting market:

Consulting on the Cusp of Disruption
“We have come to the conclusion that the same forces that disrupted so many businesses, from steel to publishing, are starting to reshape the world of consulting.”  

Semler reflects on the consulting firm of the future
”According to Semler, a management guru renowned for his thought leadership on leadership and organisation, consulting firms, much as business schools and giant companies, still are predominantly turned towards the past. “They need to change their outlook quickly,” he says, adding that the industry finds itself on “the cusp of change in the next few years . . .” 
 

The Death Of Jobs
“The sooner policymakers and capital markets-types can wrap their heads around this rapidly morphing reality, the more we can plot a course to minimize the pain and speed the transition.”  

Trends Reshaping the Future of HR – The Rise of the Extended Workforce
“Many of today’s contingent workers have high-level skills, deliver top performance and are deeply engaged in their work.”


Founders Brian Kitson and Tim Zuponcic saw the writing on the walls in 2012 when MyNextConsultant.com was conceived.  They continue to underscore the importance and advantage of businesses to move from the 1980’s models of sourcing their supplemental resources to more efficient and cost-effective technology-based services.   

The following blog articles articulate the current situation and highlight the advantages of moving from the old models to the new technology.  Pick a couple and learn why the technology-based services are good for your business:  

The Changing Consulting Market  

An Open Market: Win-Win for Consultants & Clients  

The Diffused Market of Clients In Need of Consultants  

Fear Factors of Management Consulting  

Progress always confronts resistance  

The Middle-Man Calculus  

The Elusive Independent  

Break Free Series 
Break Free From the Old Ways of Sourcing Consultants
Costs of Outdated Models (Part 1)
Costs of Outdated Models (Part 2)
Costs of Outdated Models (Part 3)
Changing Employment Market
The Collaborative Independent
A New Generation of Managers
Conclusion    

 

 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

The Consultant's Business Development Priority Mix

Business development, growing your business –call it what you will– takes a steady effort to create a steady stream of work and a steady cash-flow.  Any self-employed consultant knows you can't wait until you need business to start business development efforts.  The variety of business development (BD) activities can become overwhelming in a number of different ways.  The key is to prioritize them and then start activating them from the top, down. 

The opportunities for developing your business are abundant: on-line directories and services, current clients, referrals, staffing agencies, speaking engagements, webinars, social media, networking events, SEO, forums, e-mail, blogging, networks, authorship, and more.   None of these is a silver bullet.  Any one on its own is manageable, but for each one added to your BD efforts, the more time and money it costs you –and time is money.   

Prioritizing your BD efforts is essential to managing your resources and ensuring you have a steady stream of work.  If we take the time and costs of each BD activity and evaluate it on a scale relative to the others, it will help us prioritize our efforts and develop a strategy.  Placing each activity on scales for time and dollar costs, we can create a matrix to help us do just that.  See the graphic below.  In the upper right-hand quadrant you will see those activities that require the least in time and money. The lower left-hand quadrant are those activities that require the most in time and money.

You may plot the points differently than I have. That’s okay.  Assign the value that is relevant to you.  The point is to go through the exercise of understanding where your time is best spent, and then following through to maximize the use of your time and to create a stream of business.

Also, there are other factors to consider.  There is the certainty of getting work; immediacy (some require greater lead-time to feed the BD funnel); some require a steady diet of your time (like a marathon); where others require bursts of time.  Some of the activities are co-dependent.  For example, to get speaking engagements, you will need to establish recognition as an authority in the other areas –through authorship, for instance.  All of these factors will help you prioritize your business development efforts.

The point here is to evaluate every business development option you have in a way that allows you to actively prioritize and manage them.

 

 

About MyNextConsultant

MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Business development, growing your business –call it what you will– takes a steady effort to create a steady stream of work and a steady cash-flow.  Any self-employed consultant knows you can't wait until you need business to start business development efforts.  The variety of business development (BD) activities can become overwhelming in a number of different ways.  The key is to prioritize them and then start activating them from the top, down. 

The opportunities for developing your business are abundant: on-line directories and services, current clients, referrals, staffing agencies, speaking engagements, webinars, social media, networking events, SEO, forums, e-mail, blogging, networks, authorship, and more.   None of these is a silver bullet.  Any one on its own is manageable, but for each one added to your BD efforts, the more time and money it costs you –and time is money.   

Prioritizing your BD efforts is essential to managing your resources and ensuring you have a steady stream of work.  If we take the time and costs of each BD activity and evaluate it on a scale relative to the others, it will help us prioritize our efforts and develop a strategy.  Placing each activity on scales for time and dollar costs, we can create a matrix to help us do just that.  See the graphic below.  In the upper right-hand quadrant you will see those activities that require the least in time and money. The lower left-hand quadrant are those activities that require the most in time and money.

You may plot the points differently than I have. That’s okay.  Assign the value that is relevant to you.  The point is to go through the exercise of understanding where your time is best spent, and then following through to maximize the use of your time and to create a stream of business.

Also, there are other factors to consider.  There is the certainty of getting work; immediacy (some require greater lead-time to feed the BD funnel); some require a steady diet of your time (like a marathon); where others require bursts of time.  Some of the activities are co-dependent.  For example, to get speaking engagements, you will need to establish recognition as an authority in the other areas –through authorship, for instance.  All of these factors will help you prioritize your business development efforts.

The point here is to evaluate every business development option you have in a way that allows you to actively prioritize and manage them.

 

 

About MyNextConsultant

MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Fear Factors of Management Consulting

Entire markets are fueled by one of the most motivating factors known:  Fear.   And the management consulting market is just as susceptible to the fear factor as any.  Playing on the fears of your audience is powerful and influential.  In the face of fear, an individual will act in ways that defy reason, knowledge, and experience.  Add to this dynamic that certain entities stand to gain disproportionately from the propagation of these fears and you have a market propped by fear. 

Let’s take a look at the fears in the management consulting market.

Fear Factor 1:  The fear of contracting with a management consultant that doesn’t work out.  The chemistry isn’t right, they don’t have the skills and abilities you thought they had, they are not delivering as expected, etc.   This fear perpetuates the middle-man paradigm and the belief that you cannot get a good consultant unless someone screens them for you.  Thousands of staffing agencies and consulting houses thrive on the perpetuated fear that contracting directly with consultants is risky. 

Reason and experience tell us the contrary –that I can better qualify and select an individual for the work I have to be done than a third party who uses subjective judgment, does not have first-hand knowledge of the project’s requirements, and is likely picking from their pool a consultant that is second or third in line.

Fear Factor 2:  The fear of contractor re-classification.  Many companies avoid 1099 contractors, in part, for this reason, although  improved guidance of the regulations has increased understanding and reduced the reclassification concern.  Even the IRS states that section 530 is to be “construed liberally in favor of taxpayers.”1  Only those who are sloppy in their contracting practices are at risk.

Fear Factor 3:  The fear of contractors seeking employee benefits.  Related to Fear Factor 2, the initial occurrences in the 1970’s and 80’s continue to perpetuate the fears of corporate lawyers and human resources managers.  There are a number of factors that have to be met before a contractor can claim benefits and many companies are savvy enough to avoid those factors and still gain the benefits of utilizing 1099 contractors. 

The cost of succumbing to these fears is that clients end up by-passing highly experienced and credentialed experts and management consultants that would out-perform those that they end up with by contracting through third parties who have limited talent pools.  In addition to following the reasonable guidelines, a quick review of a consultant’s experience and history will inform a client enough to put to rest concerns.  Web-based networks that feature consultant profiles with their experience and history are strengths to be leveraged by the client who is seeking management consultants who are professional and present no risk.

1 Joint Committee on Taxation, Present Law and Background Relating to Worker Classification for Federal Tax Purposes (JCX-26-07), May 7, 2007.,   http://www.irs.gov/pub/irs-utl/x-26-07.pdf 

 

 

About MyNextConsultant

MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

The Consultant's Calculus

Ahhh . . . . the consultant’s life.  Exciting projects, travel, meeting new people, travel, learning, travel, and, of course, the huge rates we demand  – $80, $100, and $250 or more per hour.  With that kind of money,  who doesn’t want to be a consultant?  Well, the money can be okay, but there are trade-offs to carefully consider, like the challenging lifestyle, the cyclical nature of business development, and the stress that they cause.   Now I’m sure some people are saying, “Did he really say, ‘the money can be okay?’  $80 and $100 per hour is . . . just okay?!”   Those rates are certainly above Seattle’s minimum wage, but for a better understanding, let’s take a look at the math and how it plays out. 

First, there are only so many billable days in a year. Each day missed is unrecoverable.  So the risk assumed by the consultant is evident, since their rate will not likely to be billable for every workable day.  A reasonable estimation of the available billable days is outlined below:

Weeks Days/Wk Ttl Days/Yr  
52 5 260 weekdays / yr
5 5 -25 vacation
    -15 holidays
    -25 other non-billable days (office days, business development/sales calls, etc.)
    195 billable days / yr

With 195 billable 8-hour days at the $100 hourly rate, an estimated gross annual income of $156,000 is generated.   At first glance, it appears to be a respectable income.

billable days / yr 195
Rate/Hr  $   100.00
Gross Income $  156,000

But wait, with the multitude of taxes, insurance, and business costs to be paid, you will be surprised what our consultant takes home.

First, consider the deductions that are most associated with a W-2 employee – benefits, retirement savings, and taxes.  Specifically, deductions for Medical Insurance, Life Insurance, Long Term Disability, Retirement IRA savings, and Taxes  -Federal Tax, State Tax, Local Tax, and Federal OASDI/EE (Social Security).  The independent consultant takes on the full brunt of these costs.  The consultant pays the employer portion (7.5%) of social security tax as well as the employee portion (7.5%), for a total of 15% of all gross income up to $118,500 (in 2015).


Let’s take a look at these deductions for the gross income we calculated ($156,000):

Medical Ins. 15,000.00
Life Ins. 3,600.00
Retirement IRA 22,000.00
LTD 3,600.00
Fed Tax 23,400.00
Fed Tax Rate 15%
State Tax $ 4,711.20
Local Tax $ 1,661.40
Social Security $ 17,775.00

Our example is for a family of four.   The Federal tax rate is an estimated effective rate, adjusted to account for deductions and reductions in income.

Now, let’s put it all together to estimate our net income:

Gross Annual Income   $ 156,000
Medical Ins. $ 15,000.00  
Life Ins. $ 3,600.00  
Retirement IRA $ 22,000.00  
LTD $ 3,600.00  
Benefits Total   - $ 44,200
Fed Tax $ 23,400.00  
Fed Tax Rate 15%  
State Tax $ 4,711.20  
Local Tax $ 1,661.40  
Social Security $ 17,775.00  
Tax Total   - $ 47,547
Net Annual Income   $ 64,252

Our $156,000 gross annual income is quickly reduced to a net income of $64,252.  Furthermore, Net Annual Income as calculated here is still overstated, since it does not include costs of business, e.g., professional fees (attorney, accountant), liability insurance,  errors & omissions insurance, marketing, websites, education and training, and other costs associated with operating independently.  It is not uncommon for these costs to range from $5,000 - $10,000.   Some consultants spend more.

So, our $156,000 gross income puts only $50,000 – $60,000 in the cookie jar to pay living expenses.   Not what most people expect.  

There are two things to remember:   First, don’t sell yourself short.  Second, make sure you’re prepared to rebut anyone who challenges your rate with more than just the math.

Just for perspective:  A person working full-time at a fast food restaurant in Seattle flipping burgers makes over $26,000 annually — almost half of what our consultant brings home.   My auto mechanic’s rate is $110.00 per hour.   The point is, to contract an experienced, skilled specialist for a temporary engagement (where there is no obligation to retain them) at $150 – $250+ /per hour is not unreasonable.

Progress always confronts resistance

As the expert and management consulting market continues to expand into the world wide web, not all web solutions are equal. We are in the early stages of displacement in the staffing market. Web-based alternatives are popping up to offer clients supposedly better alternatives to the usual and customary business models for providing expert and management consulting services. This market will play out and adjust as web-based services encroach.

Over the last 25 years or more, technology has created, across many industries, unprecedented efficiencies. These efficiencies have resulted in greater productivity, reduction in costs, and faster turn-around times. The new technologies are embraced by customers for many reasons, amongst which are convenience, the benefits of self-service, access to unfiltered information, access to products and services unavailable locally, and reduced costs. Without these benefits, what reasons do customers have to buy on-line as opposed to a full-service, face-to-face business?

In any changing market, there are those who are reluctant to let go of the old, and that is what we’re seeing play out in the expert and management consulting market. Not all web-based services provide the differentiating benefits compared to the old models –the brick-and-mortar, heavily-staffed agencies. In other words, some of the web-based solutions have not changed their underlying models enough to benefit those they serve. Like the proverbial monkey, they refuse to let go of the nut inside the jar to get their hand free.

If the expert and management consulting market plays out like so many others have, current players will have to abandon their costly practices –remove their middle-men, allow clients to access profiles, slash their overhead, and pass along the efficiencies to those they serve –the client and consultants.

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men. 

The Middle-Man Calculus

In past blog posts, I’ve consistently pointed to the overhead of the middle-man services that have been used for sourcing management consultants since the 1980’s.  I’m talking primarily about staffing agencies, but consulting firms fall into this category as well.   Value is a function of the cost and the benefit of a product or service. Until you look at the math, it is hard to put into perspective where on the value scale these services fall.   

You cannot ignore the cut that middle-men take and the effect it has on both the value to the client and cost to the consultant.  Regardless of the claimed benefits of using staffing firms, they have to be considered in context of their costs and how these costs influence the value and quality of the consultant that is ultimately the service procured.    

To illustrate, let’s take a look at an example.  A client company has a need for management consulting services to run a change management program.  They contact a staffing firm to obtain a management consultant with the appropriate skill sets.  The settled rate is $210/hour paid by the client to the staffing agency.  The consultant’s compensation is $100/hour.   The staffing firm’s hourly cut is $110.    The table below bears the math of the middle-man’s cut by hour, day, week, and month.  

Client rate: $210
Consultant rate: $100
    Middle-Man Cut:
    /hour: $110
hrs/day 8 /day: $880
days/wk 5 /week: $4,400
days/mo 20 /month: $17,600
      52%

Staffing firms take between 40% and 70%. In our example, the agency has a 52% cut.    That translates to the client paying 1.7 – 3.5 times the rate paid to the consultant.  Where else do we pay 3.5x the market value of a product or service to include a middle-man?   I am not saying middle-men provide no useful service.  I’m calling into question the value of that service in context of what is paid for it.

The relevant question is, “What is the client getting from the staffing firm for $17,600 a month?”  If we assume the consultant’s skills are commensurate with the rate they have settled ($100/hour, equating to $16,000/month), then the remaining $17,600 paid to the staffing firm demands value from the staffing firm.  What is that value?

It is that simple.  What is the client getting for the $17,600?   Is it the convenience of having someone else find a consultant?  Is it to gain access to a hidden market of management consultants?  Is it to shift liability?  Avoid liability?  Whatever it is, it is the fiduciary responsibility of the client to ensure they are getting a return on the money paid to the staffing service; and if they are not, then to find alternative sources.


Key Takeaways of The Middle-Man Calculus:

  • Regardless of the claimed benefits of using staffing firms, they have to be considered in context of the large cuts they take.
  • What is the client getting from the staffing firm for their fees?

 

 

About MyNextConsultant

MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

An Open Market: Win-Win for Consultants & Clients

Think about how we buy business-to-business goods and services.  Or, for that matter, how we buy consumer goods and services.  When the market allows, buyers, whether business or consumer, will choose the most efficient and cost-effective alternatives.  Think of how the internet and technology has opened up markets that would have been impossible otherwise –to the benefit of the supplier and buyer. Web technology has done what could not be done before: Connect the local supplier who has an offering that is specialized, of value, or unique, directly to the larger market for the benefit of both.  An open market.

The management consulting market has historically been a closed market dominated by middle-men.  In the absence of the technology we have today it made sense to have businesses with people and buildings built around connecting clients to consultants.  Large staffs were needed to pour through file drawers of paper resumes to screen and select a few for presentation to the client.  Prior to the world-wide-web  it was not something that any client company would insource and was as efficient as you could get.  

Find A Management Consultant

The middle-man model has its costs and risks.  All the paper, all the people, and the real estate to house them is costly overhead that needs to be covered by who else . . . the client and the consultant.  Each middle-man firm is limited in its pool of consultants, so the market is fractured with many suppliers. Further limiting accessibility, many management consultants avoid the large rate cuts these firms require by remaining truly independent and, therefore, hard to find. 

Now that the internet is beginning to provide viable alternatives,  the middle-man providers have become parasitic by comparison.  Their large overhead places a burden on the client companies and consultants to fund their inefficiencies.  And therein lies the opportunity for clients and consultants:  to take advantage of the efficiencies and cost-effectiveness that technology and the internet provide –a win-win.  


Key Takeaways of An Open Market: Win-Win for Management Consultants and Clients:

  • When the market allows, buyers will choose the most efficient and cost-effective means of obtaining goods and services.
  • Middle-man providers are outdated and costly.
  • The web-based providers are an opportunity for clients and consultants to leverage their efficiencies and cost-effectiveness.

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men. 

Think about how we buy business-to-business goods and services.  Or, for that matter, how we buy consumer goods and services.  When the market allows, buyers, whether business or consumer, will choose the most efficient and cost-effective alternatives.  Think of how the internet and technology has opened up markets that would have been impossible otherwise –to the benefit of the supplier and buyer. Web technology has done what could not be done before: Connect the local supplier who has an offering that is specialized, of value, or unique, directly to the larger market for the benefit of both.  An open market.

The management consulting market has historically been a closed market dominated by middle-men.  In the absence of the technology we have today it made sense to have businesses with people and buildings built around connecting clients to consultants.  Large staffs were needed to pour through file drawers of paper resumes to screen and select a few for presentation to the client.  Prior to the world-wide-web  it was not something that any client company would insource and was as efficient as you could get.  

Find A Management Consultant

The middle-man model has its costs and risks.  All the paper, all the people, and the real estate to house them is costly overhead that needs to be covered by who else . . . the client and the consultant.  Each middle-man firm is limited in its pool of consultants, so the market is fractured with many suppliers. Further limiting accessibility, many management consultants avoid the large rate cuts these firms require by remaining truly independent and, therefore, hard to find. 

Now that the internet is beginning to provide viable alternatives,  the middle-man providers have become parasitic by comparison.  Their large overhead places a burden on the client companies and consultants to fund their inefficiencies.  And therein lies the opportunity for clients and consultants:  to take advantage of the efficiencies and cost-effectiveness that technology and the internet provide –a win-win.  


Key Takeaways of An Open Market: Win-Win for Management Consultants and Clients:

  • When the market allows, buyers will choose the most efficient and cost-effective means of obtaining goods and services.
  • Middle-man providers are outdated and costly.
  • The web-based providers are an opportunity for clients and consultants to leverage their efficiencies and cost-effectiveness.

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men. 

Think about how we buy business-to-business goods and services.  Or, for that matter, how we buy consumer goods and services.  When the market allows, buyers, whether business or consumer, will choose the most efficient and cost-effective alternatives.  Think of how the internet and technology has opened up markets that would have been impossible otherwise –to the benefit of the supplier and buyer. Web technology has done what could not be done before: Connect the local supplier who has an offering that is specialized, of value, or unique, directly to the larger market for the benefit of both.  An open market.

The management consulting market has historically been a closed market dominated by middle-men.  In the absence of the technology we have today it made sense to have businesses with people and buildings built around connecting clients to consultants.  Large staffs were needed to pour through file drawers of paper resumes to screen and select a few for presentation to the client.  Prior to the world-wide-web  it was not something that any client company would insource and was as efficient as you could get.  

Find A Management Consultant

The middle-man model has its costs and risks.  All the paper, all the people, and the real estate to house them is costly overhead that needs to be covered by who else . . . the client and the consultant.  Each middle-man firm is limited in its pool of consultants, so the market is fractured with many suppliers. Further limiting accessibility, many management consultants avoid the large rate cuts these firms require by remaining truly independent and, therefore, hard to find. 

Now that the internet is beginning to provide viable alternatives,  the middle-man providers have become parasitic by comparison.  Their large overhead places a burden on the client companies and consultants to fund their inefficiencies.  And therein lies the opportunity for clients and consultants:  to take advantage of the efficiencies and cost-effectiveness that technology and the internet provide –a win-win.  


Key Takeaways of An Open Market: Win-Win for Management Consultants and Clients:

  • When the market allows, buyers will choose the most efficient and cost-effective means of obtaining goods and services.
  • Middle-man providers are outdated and costly.
  • The web-based providers are an opportunity for clients and consultants to leverage their efficiencies and cost-effectiveness.

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men. 

Why The Small Practice Consultant?

Small-practice management consultants (independent, solo, and practices of 6 or fewer) tend to have deep experience in their areas of specialty and are confident in their knowledge, abilities and skills. They are motivated and disciplined entrepreneurs–characteristics that set them apart from other management consultants.
 
Their level of competence is not frequently available through customary consulting channels (staffing agencies and larger consultancies) that use leveraged models.  Small-practice management consultants are passionate about what they do, are confident, and prefer not to dilute their value under the customary consulting models.
 
The presence of small-practice consultancies has grown in the recent economic environment and is expected to continue growing.  Some see the small-practice consultancy more prevalent in the future for filling talent needs of businesses that are reducing workforce and focusing employees on their core business.

Find A Management Consultant

Small-practice consultancies have ownership in their businesses, so they are keen on delivering to satisfy the client. Their low overhead doesn't require them to be preoccupied with expanding their business on your site at the expense of your work.

Key Takeaways of Why The Small Practice Consultant:

  • Small-practice management consultants are set apart from other management consultants
  • They prefer not to dilute their value under the customary consulting models
  • They have ownership in their business, so they have ownership in the services they provide

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Small-practice management consultants (independent, solo, and practices of 6 or fewer) tend to have deep experience in their areas of specialty and are confident in their knowledge, abilities and skills. They are motivated and disciplined entrepreneurs–characteristics that set them apart from other management consultants.
 
Their level of competence is not frequently available through customary consulting channels (staffing agencies and larger consultancies) that use leveraged models.  Small-practice management consultants are passionate about what they do, are confident, and prefer not to dilute their value under the customary consulting models.
 
The presence of small-practice consultancies has grown in the recent economic environment and is expected to continue growing.  Some see the small-practice consultancy more prevalent in the future for filling talent needs of businesses that are reducing workforce and focusing employees on their core business.

Find A Management Consultant

Small-practice consultancies have ownership in their businesses, so they are keen on delivering to satisfy the client. Their low overhead doesn't require them to be preoccupied with expanding their business on your site at the expense of your work.

Key Takeaways of Why The Small Practice Consultant:

  • Small-practice management consultants are set apart from other management consultants
  • They prefer not to dilute their value under the customary consulting models
  • They have ownership in their business, so they have ownership in the services they provide

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Small-practice management consultants (independent, solo, and practices of 6 or fewer) tend to have deep experience in their areas of specialty and are confident in their knowledge, abilities and skills. They are motivated and disciplined entrepreneurs–characteristics that set them apart from other management consultants.
 
Their level of competence is not frequently available through customary consulting channels (staffing agencies and larger consultancies) that use leveraged models.  Small-practice management consultants are passionate about what they do, are confident, and prefer not to dilute their value under the customary consulting models.
 
The presence of small-practice consultancies has grown in the recent economic environment and is expected to continue growing.  Some see the small-practice consultancy more prevalent in the future for filling talent needs of businesses that are reducing workforce and focusing employees on their core business.

Find A Management Consultant

Small-practice consultancies have ownership in their businesses, so they are keen on delivering to satisfy the client. Their low overhead doesn't require them to be preoccupied with expanding their business on your site at the expense of your work.

Key Takeaways of Why The Small Practice Consultant:

  • Small-practice management consultants are set apart from other management consultants
  • They prefer not to dilute their value under the customary consulting models
  • They have ownership in their business, so they have ownership in the services they provide

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Who Do You Let Represent You?

Think of a Picasso or a Rembrandt or any of your favorite pieces of art.  When you want to see one to truly appreciate it, you go to a museum or gallery to witness and inspect it. The last thing you do is ask someone to draw you a likeness of it –a representation. You are a piece of art.  Unique. Original. So, as a management consultant, why go to someone else to represent you?

Nobody can represent you better than YOU. Nobody has the vested interest, the passion, nor the intimacy of your experience and background like you. Third parties who stand between you and the client have a choice of consultants and don’t care whether they contract with one consultant or the other. For them, the name of the game is billable hours. They just can’t represent you as well as you –the original.

How many channels are available where the client can find and connect to you directly –with no one in between? Certainly consulting houses and staffing agencies block any direct connection. Even web-based services like Zintro, MBO, and Maven run interference with middle-men. And all of these garner a large portion of the rate clients pay and exceedingly encroach on yours.  

Connections through their networks are the first place management consultants go for business development because it works. It works, in part, because the consultant represents herself. The client sees directly what she offers by what she presents in content and by how she presents it.

Find A Management Consultant

There are not many opportunities in this industry to represent yourself directly before new clients. Professional networks, like Madison Area Business Consultants (madisonconsultants.com), can provide directories for clients to find and connect with you directly. Of course, connecting clients directly with management consultants is a primary benefit of MyNextConsultant.com. So when you have the opportunities, seize them.   

Key Takeaways of Who Do You Let Represent You:

  • Nobody has the vested interest, the passion, nor the intimacy of your experience and background like you
  • Most channels in the management consulting market have middle-men who have other interests that supersede yours
  • Direct connections are the best way to represent you and your work

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Think of a Picasso or a Rembrandt or any of your favorite pieces of art.  When you want to see one to truly appreciate it, you go to a museum or gallery to witness and inspect it. The last thing you do is ask someone to draw you a likeness of it –a representation. You are a piece of art.  Unique. Original. So, as a management consultant, why go to someone else to represent you?

Nobody can represent you better than YOU. Nobody has the vested interest, the passion, nor the intimacy of your experience and background like you. Third parties who stand between you and the client have a choice of consultants and don’t care whether they contract with one consultant or the other. For them, the name of the game is billable hours. They just can’t represent you as well as you –the original.

How many channels are available where the client can find and connect to you directly –with no one in between? Certainly consulting houses and staffing agencies block any direct connection. Even web-based services like Zintro, MBO, and Maven run interference with middle-men. And all of these garner a large portion of the rate clients pay and exceedingly encroach on yours.  

Connections through their networks are the first place management consultants go for business development because it works. It works, in part, because the consultant represents herself. The client sees directly what she offers by what she presents in content and by how she presents it.

Find A Management Consultant

There are not many opportunities in this industry to represent yourself directly before new clients. Professional networks, like Madison Area Business Consultants (madisonconsultants.com), can provide directories for clients to find and connect with you directly. Of course, connecting clients directly with management consultants is a primary benefit of MyNextConsultant.com. So when you have the opportunities, seize them.   

Key Takeaways of Who Do You Let Represent You:

  • Nobody has the vested interest, the passion, nor the intimacy of your experience and background like you
  • Most channels in the management consulting market have middle-men who have other interests that supersede yours
  • Direct connections are the best way to represent you and your work

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Think of a Picasso or a Rembrandt or any of your favorite pieces of art.  When you want to see one to truly appreciate it, you go to a museum or gallery to witness and inspect it. The last thing you do is ask someone to draw you a likeness of it –a representation. You are a piece of art.  Unique. Original. So, as a management consultant, why go to someone else to represent you?

Nobody can represent you better than YOU. Nobody has the vested interest, the passion, nor the intimacy of your experience and background like you. Third parties who stand between you and the client have a choice of consultants and don’t care whether they contract with one consultant or the other. For them, the name of the game is billable hours. They just can’t represent you as well as you –the original.

How many channels are available where the client can find and connect to you directly –with no one in between? Certainly consulting houses and staffing agencies block any direct connection. Even web-based services like Zintro, MBO, and Maven run interference with middle-men. And all of these garner a large portion of the rate clients pay and exceedingly encroach on yours.  

Connections through their networks are the first place management consultants go for business development because it works. It works, in part, because the consultant represents herself. The client sees directly what she offers by what she presents in content and by how she presents it.

Find A Management Consultant

There are not many opportunities in this industry to represent yourself directly before new clients. Professional networks, like Madison Area Business Consultants (madisonconsultants.com), can provide directories for clients to find and connect with you directly. Of course, connecting clients directly with management consultants is a primary benefit of MyNextConsultant.com. So when you have the opportunities, seize them.   

Key Takeaways of Who Do You Let Represent You:

  • Nobody has the vested interest, the passion, nor the intimacy of your experience and background like you
  • Most channels in the management consulting market have middle-men who have other interests that supersede yours
  • Direct connections are the best way to represent you and your work

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Breaking Free: Conclusion

In this series we’ve looked at how the costs of older models for sourcing management consultants, the changing employment market, collaboration amongst independent consultants, and the new generation of managers  is effecting change in the management consulting market.  

Companies are realizing that tens of thousands of highly qualified independent and small-practice management consultancies are now accessible more than ever and provide a higher-value alternative to the traditional models –higher-value because of their superior expertise and zero overhead.

Clients who utilize management consultants have a fiduciary responsibility to ensure they are getting full value of services they buy. Procurement offices in some industries are already challenging the traditional models and seeking alternatives.   

As the management consulting industry (a $1.2 trillion industry in the U.S.) continues to be questioned of its value, traditional consultancies and staffing agencies are loath to give up their 1980’s models. Whenever a market is faced with change, those who are threatened take defensive and, sometimes, offensive tactics to prevent loss. It is expected that the consultancies and staffing agencies are going to take measures to protect their positions.  Clients will need to critically assess their claims as change plays out.   

The utilization of technology greatly increases the efficiency of organizing and making accessible consultant information.  As already demonstrated in other markets, by having the right information available in a meaningful and efficient way, the customer (client) is able to efficiently and directly source their needs and gain all the benefits thereof.  

Find A Management Consultant

With improved networking capabilities through technology, independents are discoverable by clients. Clients now have access to an entire market of independents that were always there, but could not be found. This same technology enables independents to collaborate through virtual alliances and independent managing partners, and move into a part of the market where clients have been seeking alternatives that deliver more value. In the end, it is an improvement in the market and a win-win for clients and consultants.

Key Takeaways of Breaking Free: Conclusion:

  • Change in the consulting market is taking place
  • The management consulting market is finally breaking into the efficiencies of web-based technology
  • Sourcing management consultants through web-based networks designed specifically for the market is a win-win for clients and consultants

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

In this series we’ve looked at how the costs of older models for sourcing management consultants, the changing employment market, collaboration amongst independent consultants, and the new generation of managers  is effecting change in the management consulting market.  

Companies are realizing that tens of thousands of highly qualified independent and small-practice management consultancies are now accessible more than ever and provide a higher-value alternative to the traditional models –higher-value because of their superior expertise and zero overhead.

Clients who utilize management consultants have a fiduciary responsibility to ensure they are getting full value of services they buy. Procurement offices in some industries are already challenging the traditional models and seeking alternatives.   

As the management consulting industry (a $1.2 trillion industry in the U.S.) continues to be questioned of its value, traditional consultancies and staffing agencies are loath to give up their 1980’s models. Whenever a market is faced with change, those who are threatened take defensive and, sometimes, offensive tactics to prevent loss. It is expected that the consultancies and staffing agencies are going to take measures to protect their positions.  Clients will need to critically assess their claims as change plays out.   

The utilization of technology greatly increases the efficiency of organizing and making accessible consultant information.  As already demonstrated in other markets, by having the right information available in a meaningful and efficient way, the customer (client) is able to efficiently and directly source their needs and gain all the benefits thereof.  

Find A Management Consultant

With improved networking capabilities through technology, independents are discoverable by clients. Clients now have access to an entire market of independents that were always there, but could not be found. This same technology enables independents to collaborate through virtual alliances and independent managing partners, and move into a part of the market where clients have been seeking alternatives that deliver more value. In the end, it is an improvement in the market and a win-win for clients and consultants.

Key Takeaways of Breaking Free: Conclusion:

  • Change in the consulting market is taking place
  • The management consulting market is finally breaking into the efficiencies of web-based technology
  • Sourcing management consultants through web-based networks designed specifically for the market is a win-win for clients and consultants

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

In this series we’ve looked at how the costs of older models for sourcing management consultants, the changing employment market, collaboration amongst independent consultants, and the new generation of managers  is effecting change in the management consulting market.  

Companies are realizing that tens of thousands of highly qualified independent and small-practice management consultancies are now accessible more than ever and provide a higher-value alternative to the traditional models –higher-value because of their superior expertise and zero overhead.

Clients who utilize management consultants have a fiduciary responsibility to ensure they are getting full value of services they buy. Procurement offices in some industries are already challenging the traditional models and seeking alternatives.   

As the management consulting industry (a $1.2 trillion industry in the U.S.) continues to be questioned of its value, traditional consultancies and staffing agencies are loath to give up their 1980’s models. Whenever a market is faced with change, those who are threatened take defensive and, sometimes, offensive tactics to prevent loss. It is expected that the consultancies and staffing agencies are going to take measures to protect their positions.  Clients will need to critically assess their claims as change plays out.   

The utilization of technology greatly increases the efficiency of organizing and making accessible consultant information.  As already demonstrated in other markets, by having the right information available in a meaningful and efficient way, the customer (client) is able to efficiently and directly source their needs and gain all the benefits thereof.  

Find A Management Consultant

With improved networking capabilities through technology, independents are discoverable by clients. Clients now have access to an entire market of independents that were always there, but could not be found. This same technology enables independents to collaborate through virtual alliances and independent managing partners, and move into a part of the market where clients have been seeking alternatives that deliver more value. In the end, it is an improvement in the market and a win-win for clients and consultants.

Key Takeaways of Breaking Free: Conclusion:

  • Change in the consulting market is taking place
  • The management consulting market is finally breaking into the efficiencies of web-based technology
  • Sourcing management consultants through web-based networks designed specifically for the market is a win-win for clients and consultants

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Breaking Free: A New Generation of Managers

In the previous blogs of this series, we’ve looked at how the costs of older models, the changing employment market, and collaboration amongst independent consultants is effecting change in the management consulting market. The last catalyst is considered here.

Each generation that advances brings with it new ways of looking at the world around them –and the business world is no different. A new generation of professionals is moving to fill the ranks of management. Late Gen-X and many Gen-Y employees are moving into management positions, becoming line managers and C-suite executives who need management consultants to help fill talent gaps for short and long-term engagements. Having been raised on computers and handhelds, they don’t think twice about obtaining information or making purchases using web technology.  They seek a web-based alternative for sourcing consultants. Finding consultants through a technology channel is a no-brainer not only on the technology side, but on the business side too, gaining cost-savings and efficiencies.

Find A Management Consultant

Where the prior generations have been reluctant to change, the new generation of managers will change the market by easing into what comes natural  –there really is no adoption curve for them. The efficiencies that web-based sourcing brings to the management consulting market is apparent to this new generation and they are leveraging those efficiencies to their benefit.

Continue to . . . Breaking Free: Conclusion

Key Takeaways of Breaking Free:  A New Generation of Managers:

  • A new generation of professionals is moving into management positions where management consultants are needed
  • Having been raised on computers and handhelds, they seek a technology alternative for sourcing consultants
  • The new generation of managers are leveraging the efficiencies of web-based sourcing

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

In the previous blogs of this series, we’ve looked at how the costs of older models, the changing employment market, and collaboration amongst independent consultants is effecting change in the management consulting market. The last catalyst is considered here.

Each generation that advances brings with it new ways of looking at the world around them –and the business world is no different. A new generation of professionals is moving to fill the ranks of management. Late Gen-X and many Gen-Y employees are moving into management positions, becoming line managers and C-suite executives who need management consultants to help fill talent gaps for short and long-term engagements. Having been raised on computers and handhelds, they don’t think twice about obtaining information or making purchases using web technology.  They seek a web-based alternative for sourcing consultants. Finding consultants through a technology channel is a no-brainer not only on the technology side, but on the business side too, gaining cost-savings and efficiencies.

Find A Management Consultant

Where the prior generations have been reluctant to change, the new generation of managers will change the market by easing into what comes natural  –there really is no adoption curve for them. The efficiencies that web-based sourcing brings to the management consulting market is apparent to this new generation and they are leveraging those efficiencies to their benefit.

Continue to . . . Breaking Free: Conclusion

Key Takeaways of Breaking Free:  A New Generation of Managers:

  • A new generation of professionals is moving into management positions where management consultants are needed
  • Having been raised on computers and handhelds, they seek a technology alternative for sourcing consultants
  • The new generation of managers are leveraging the efficiencies of web-based sourcing

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

In the previous blogs of this series, we’ve looked at how the costs of older models, the changing employment market, and collaboration amongst independent consultants is effecting change in the management consulting market. The last catalyst is considered here.

Each generation that advances brings with it new ways of looking at the world around them –and the business world is no different. A new generation of professionals is moving to fill the ranks of management. Late Gen-X and many Gen-Y employees are moving into management positions, becoming line managers and C-suite executives who need management consultants to help fill talent gaps for short and long-term engagements. Having been raised on computers and handhelds, they don’t think twice about obtaining information or making purchases using web technology.  They seek a web-based alternative for sourcing consultants. Finding consultants through a technology channel is a no-brainer not only on the technology side, but on the business side too, gaining cost-savings and efficiencies.

Find A Management Consultant

Where the prior generations have been reluctant to change, the new generation of managers will change the market by easing into what comes natural  –there really is no adoption curve for them. The efficiencies that web-based sourcing brings to the management consulting market is apparent to this new generation and they are leveraging those efficiencies to their benefit.

Continue to . . . Breaking Free: Conclusion

Key Takeaways of Breaking Free:  A New Generation of Managers:

  • A new generation of professionals is moving into management positions where management consultants are needed
  • Having been raised on computers and handhelds, they seek a technology alternative for sourcing consultants
  • The new generation of managers are leveraging the efficiencies of web-based sourcing

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

Breaking Free: The Collaborative Independent

In the last few blogs we’ve considered the costs of older models, the changing employment market, and how they are, in themselves, contributing to a changing management consultant market. We now look at a third dynamic, collaboration amongst independents.  

Collaboration amongst independents is going to markedly increase as technology produces better networks for connecting. Independents are creating relationships with other independents and small practices. These virtual alliances broaden offerings and increase capacity, presenting viable alternatives for the client.  

A collaborative practice that is underdeveloped is the “independent managing partner.” This individual, while maintaining their identity as an independent, is able to assemble a team of consultants for a given project, manage the team, contribute as a team member, and manage the project to delivery. When finished with the project, the team becomes available for a new phase or different client, or morph into a different combination of independents. This practice provides scalability and flexibility that is limited only by the available network of independents.

Virtual alliances and independent managing partners are placing independents in a part of the market that would otherwise be impossible, taking on larger, more complex projects. Their virtual nature avoids the overhead that burdens traditional models. Their scalability, flexibility, and zero overhead create a value proposition that is destined to change the industry. The efficiency of shedding management layers and brick-and-mortar reflects in speed of delivery and more dollars spent on the client’s work. Absent the overhead, the pressure is off to be pre-occupied with selling the next job.

Find A Management Consultant

With the availability of web-based services to network the diverse and dispersed population of independent talent, virtual alliances and independent managing partners are going to become yet a new segment in the market that benefits all –a win, win, win.

Continue to . . . Breaking Free: A New Generation of Managers

Key Takeaways of Breaking Free:  The Collaborative Independent:

  • Collaboration amongst independents is going to markedly increase as technology produces better networks for connecting
  • Virtual alliances and independent managing partners are placing independents in a part of the market that would otherwise be impossible, taking on larger, more complex projects
  • Their scalability, flexibility, and zero overhead create a value proposition that is destined to change the industry

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

In the last few blogs we’ve considered the costs of older models, the changing employment market, and how they are, in themselves, contributing to a changing management consultant market. We now look at a third dynamic, collaboration amongst independents.  

Collaboration amongst independents is going to markedly increase as technology produces better networks for connecting. Independents are creating relationships with other independents and small practices. These virtual alliances broaden offerings and increase capacity, presenting viable alternatives for the client.  

A collaborative practice that is underdeveloped is the “independent managing partner.” This individual, while maintaining their identity as an independent, is able to assemble a team of consultants for a given project, manage the team, contribute as a team member, and manage the project to delivery. When finished with the project, the team becomes available for a new phase or different client, or morph into a different combination of independents. This practice provides scalability and flexibility that is limited only by the available network of independents.

Virtual alliances and independent managing partners are placing independents in a part of the market that would otherwise be impossible, taking on larger, more complex projects. Their virtual nature avoids the overhead that burdens traditional models. Their scalability, flexibility, and zero overhead create a value proposition that is destined to change the industry. The efficiency of shedding management layers and brick-and-mortar reflects in speed of delivery and more dollars spent on the client’s work. Absent the overhead, the pressure is off to be pre-occupied with selling the next job.

Find A Management Consultant

With the availability of web-based services to network the diverse and dispersed population of independent talent, virtual alliances and independent managing partners are going to become yet a new segment in the market that benefits all –a win, win, win.

Continue to . . . Breaking Free: A New Generation of Managers

Key Takeaways of Breaking Free:  The Collaborative Independent:

  • Collaboration amongst independents is going to markedly increase as technology produces better networks for connecting
  • Virtual alliances and independent managing partners are placing independents in a part of the market that would otherwise be impossible, taking on larger, more complex projects
  • Their scalability, flexibility, and zero overhead create a value proposition that is destined to change the industry

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

In the last few blogs we’ve considered the costs of older models, the changing employment market, and how they are, in themselves, contributing to a changing management consultant market. We now look at a third dynamic, collaboration amongst independents.  

Collaboration amongst independents is going to markedly increase as technology produces better networks for connecting. Independents are creating relationships with other independents and small practices. These virtual alliances broaden offerings and increase capacity, presenting viable alternatives for the client.  

A collaborative practice that is underdeveloped is the “independent managing partner.” This individual, while maintaining their identity as an independent, is able to assemble a team of consultants for a given project, manage the team, contribute as a team member, and manage the project to delivery. When finished with the project, the team becomes available for a new phase or different client, or morph into a different combination of independents. This practice provides scalability and flexibility that is limited only by the available network of independents.

Virtual alliances and independent managing partners are placing independents in a part of the market that would otherwise be impossible, taking on larger, more complex projects. Their virtual nature avoids the overhead that burdens traditional models. Their scalability, flexibility, and zero overhead create a value proposition that is destined to change the industry. The efficiency of shedding management layers and brick-and-mortar reflects in speed of delivery and more dollars spent on the client’s work. Absent the overhead, the pressure is off to be pre-occupied with selling the next job.

Find A Management Consultant

With the availability of web-based services to network the diverse and dispersed population of independent talent, virtual alliances and independent managing partners are going to become yet a new segment in the market that benefits all –a win, win, win.

Continue to . . . Breaking Free: A New Generation of Managers

Key Takeaways of Breaking Free:  The Collaborative Independent:

  • Collaboration amongst independents is going to markedly increase as technology produces better networks for connecting
  • Virtual alliances and independent managing partners are placing independents in a part of the market that would otherwise be impossible, taking on larger, more complex projects
  • Their scalability, flexibility, and zero overhead create a value proposition that is destined to change the industry

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

Breaking Free: A Changing Employment Market

In our “Breaking Free” series, we’ve looked at the costs of the outdated 1980’s models of consulting firms and staffing firms that have perpetuated into the second decade of the new millennium –despite the advantages web technology brings to the market. Now we consider the first of three forces that are driving the shift toward the efficient and cost-effective web-based sources: The changing employment market.

The changing employment market is helping to form the new landscape as the number of independent management consultants continues to increase.

Cost-conscious companies are shedding employees who are in functions not considered core to their business. By streamlining operations and responding to the growing burden of regulations that impose costs associated with full-time employees, more employees are released into the job market.    

An increasing number of ex-employees are choosing to become self-employed, offering their experience and skills in the form of consulting services. Those who once thought that becoming an independent consultant was too risky are jumping into the consulting market. The instability of being employed in an environment of impending layoffs has become equal to or greater than the risk of being self-employed. This phenomenon is a profound statement of the trending benefit-risk profiles between employment and independence. It has fueled the increase in independent consultants. Given the shift in the global economy, the trend is expected to continue in the U.S.  

On the employer side, the need for non-core functions remains –with or without employees. Companies will continue to contract the skills needed to support non-core functions, creating a greater demand for the growing consultant population.

Find A Management Consultant

The web-based services allow companies to access the growing number of independents who are not associated with staffing firms and consulting firms. This increased visibility to the independent creates a win-win situation: Clients have an “open market” from which to select, the consultants are able to represent themselves, and both win for the elimination of the egregious fees of middle-men.

Continue to . . . Breaking Free: The Collaborative Independent

Key Takeaways of Breaking Free: A Changing Employment Market:

  • Companies continue to shed employees to minimize operating costs and in response to the growing burden of regulations that impose costs associated with full-time employees  
  • An increasing number of ex-employees are choosing to become management consultants because the risk of employment has met or exceeded the risk of working independently
  • Highly skilled independents are not accessible through old models of sourcing consultant services

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

In our “Breaking Free” series, we’ve looked at the costs of the outdated 1980’s models of consulting firms and staffing firms that have perpetuated into the second decade of the new millennium –despite the advantages web technology brings to the market. Now we consider the first of three forces that are driving the shift toward the efficient and cost-effective web-based sources: The changing employment market.

The changing employment market is helping to form the new landscape as the number of independent management consultants continues to increase.

Cost-conscious companies are shedding employees who are in functions not considered core to their business. By streamlining operations and responding to the growing burden of regulations that impose costs associated with full-time employees, more employees are released into the job market.    

An increasing number of ex-employees are choosing to become self-employed, offering their experience and skills in the form of consulting services. Those who once thought that becoming an independent consultant was too risky are jumping into the consulting market. The instability of being employed in an environment of impending layoffs has become equal to or greater than the risk of being self-employed. This phenomenon is a profound statement of the trending benefit-risk profiles between employment and independence. It has fueled the increase in independent consultants. Given the shift in the global economy, the trend is expected to continue in the U.S.  

On the employer side, the need for non-core functions remains –with or without employees. Companies will continue to contract the skills needed to support non-core functions, creating a greater demand for the growing consultant population.

Find A Management Consultant

The web-based services allow companies to access the growing number of independents who are not associated with staffing firms and consulting firms. This increased visibility to the independent creates a win-win situation: Clients have an “open market” from which to select, the consultants are able to represent themselves, and both win for the elimination of the egregious fees of middle-men.

Continue to . . . Breaking Free: The Collaborative Independent

Key Takeaways of Breaking Free: A Changing Employment Market:

  • Companies continue to shed employees to minimize operating costs and in response to the growing burden of regulations that impose costs associated with full-time employees  
  • An increasing number of ex-employees are choosing to become management consultants because the risk of employment has met or exceeded the risk of working independently
  • Highly skilled independents are not accessible through old models of sourcing consultant services

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

In our “Breaking Free” series, we’ve looked at the costs of the outdated 1980’s models of consulting firms and staffing firms that have perpetuated into the second decade of the new millennium –despite the advantages web technology brings to the market. Now we consider the first of three forces that are driving the shift toward the efficient and cost-effective web-based sources: The changing employment market.

The changing employment market is helping to form the new landscape as the number of independent management consultants continues to increase.

Cost-conscious companies are shedding employees who are in functions not considered core to their business. By streamlining operations and responding to the growing burden of regulations that impose costs associated with full-time employees, more employees are released into the job market.    

An increasing number of ex-employees are choosing to become self-employed, offering their experience and skills in the form of consulting services. Those who once thought that becoming an independent consultant was too risky are jumping into the consulting market. The instability of being employed in an environment of impending layoffs has become equal to or greater than the risk of being self-employed. This phenomenon is a profound statement of the trending benefit-risk profiles between employment and independence. It has fueled the increase in independent consultants. Given the shift in the global economy, the trend is expected to continue in the U.S.  

On the employer side, the need for non-core functions remains –with or without employees. Companies will continue to contract the skills needed to support non-core functions, creating a greater demand for the growing consultant population.

Find A Management Consultant

The web-based services allow companies to access the growing number of independents who are not associated with staffing firms and consulting firms. This increased visibility to the independent creates a win-win situation: Clients have an “open market” from which to select, the consultants are able to represent themselves, and both win for the elimination of the egregious fees of middle-men.

Continue to . . . Breaking Free: The Collaborative Independent

Key Takeaways of Breaking Free: A Changing Employment Market:

  • Companies continue to shed employees to minimize operating costs and in response to the growing burden of regulations that impose costs associated with full-time employees  
  • An increasing number of ex-employees are choosing to become management consultants because the risk of employment has met or exceeded the risk of working independently
  • Highly skilled independents are not accessible through old models of sourcing consultant services

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Breaking Free: Costs of Outdated Models (Part 3)

This is the fourth blog of seven that looks at today’s management consulting market and the four dynamics that are driving overdue change:

  1. Costs of outdated models
  2. The changing employment market
  3. The collaborative independent
  4. A new generation of managers

This is the third and final part of our look at the market context –the Costs of Outdated Models. In the prior two blog articles we looked at the costs of common practices of large and mid-size consultancies.

Staffing firms have their costs too. Standing between the client and consultant, their high overhead of brick-and-mortar and large staffs drive their large cut of the hourly rate paid by the client, ranging between 40 – 70%. For example, of the $200/hour rate paid by the client, as much as $140 is going to the staffing firms. Assuming the consultant is accepting a rate that is commensurate with their skill level, the client is getting grossly short-changed –paying $200/hour and getting a $60 -100/hour consultant. The staffing company is garnering a staggering $800 - $1,120 per eight-hour day as a finder’s fee and to manage payroll.

The inherencies in this model attract consultants who are willing to work for low rates. They tend to be lesser-experienced, lower-skilled individuals. Higher-qualified and experienced consultants who are confident in their abilities tend to avoid staffing firms.

Staffing firms are limited by the pool of consultants they have on their rolls. Clients rely on the agencies to screen and select a consultant. The client will get the best consultant available in the agency’s pool –often “B team” or “C team” consultants.  

Find A Management Consultant

The use of Staffing firms made sense years ago in the absence of the technology that is now available. Brick-and-mortar infrastructure was necessary to house large staffs and stores of paper resumes and other information. The large staffs were necessary to collect and organize the information, read through resumes, screen and make selections, and manage the client relationships. These were time-consuming, paper-heavy tasks. It made sense to farm out these functions to staffing firms. Today, technology has allowed us to streamline the old methods and drastically reduce or eliminate the costs of staff, time, and infrastructure.

As companies look more critically at the quality of services provided by the traditional models in light of the costs of those services, they are seeking alternatives that are more efficient and provide better value.

Continue to . . . Breaking Free: A Changing Employment Market

Key Takeaways of Breaking Free of The Old Ways of Sourcing Management Consultants:

  • Staffing firms incur high overhead through large staffs and brick-and-mortar infrastructure
  • Inherent in their model, staffing firms often provide “B” team or “C” team consultants
  • Clients are seeking to streamline the costs and inefficiencies of the large and mid-size consultancies and staffing firms

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

This is the fourth blog of seven that looks at today’s management consulting market and the four dynamics that are driving overdue change:

  1. Costs of outdated models
  2. The changing employment market
  3. The collaborative independent
  4. A new generation of managers

This is the third and final part of our look at the market context –the Costs of Outdated Models. In the prior two blog articles we looked at the costs of common practices of large and mid-size consultancies.

Staffing firms have their costs too. Standing between the client and consultant, their high overhead of brick-and-mortar and large staffs drive their large cut of the hourly rate paid by the client, ranging between 40 – 70%. For example, of the $200/hour rate paid by the client, as much as $140 is going to the staffing firms. Assuming the consultant is accepting a rate that is commensurate with their skill level, the client is getting grossly short-changed –paying $200/hour and getting a $60 -100/hour consultant. The staffing company is garnering a staggering $800 - $1,120 per eight-hour day as a finder’s fee and to manage payroll.

The inherencies in this model attract consultants who are willing to work for low rates. They tend to be lesser-experienced, lower-skilled individuals. Higher-qualified and experienced consultants who are confident in their abilities tend to avoid staffing firms.

Staffing firms are limited by the pool of consultants they have on their rolls. Clients rely on the agencies to screen and select a consultant. The client will get the best consultant available in the agency’s pool –often “B team” or “C team” consultants.  

Find A Management Consultant

The use of Staffing firms made sense years ago in the absence of the technology that is now available. Brick-and-mortar infrastructure was necessary to house large staffs and stores of paper resumes and other information. The large staffs were necessary to collect and organize the information, read through resumes, screen and make selections, and manage the client relationships. These were time-consuming, paper-heavy tasks. It made sense to farm out these functions to staffing firms. Today, technology has allowed us to streamline the old methods and drastically reduce or eliminate the costs of staff, time, and infrastructure.

As companies look more critically at the quality of services provided by the traditional models in light of the costs of those services, they are seeking alternatives that are more efficient and provide better value.

Continue to . . . Breaking Free: A Changing Employment Market

Key Takeaways of Breaking Free of The Old Ways of Sourcing Management Consultants:

  • Staffing firms incur high overhead through large staffs and brick-and-mortar infrastructure
  • Inherent in their model, staffing firms often provide “B” team or “C” team consultants
  • Clients are seeking to streamline the costs and inefficiencies of the large and mid-size consultancies and staffing firms

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

This is the fourth blog of seven that looks at today’s management consulting market and the four dynamics that are driving overdue change:

  1. Costs of outdated models
  2. The changing employment market
  3. The collaborative independent
  4. A new generation of managers

This is the third and final part of our look at the market context –the Costs of Outdated Models. In the prior two blog articles we looked at the costs of common practices of large and mid-size consultancies.

Staffing firms have their costs too. Standing between the client and consultant, their high overhead of brick-and-mortar and large staffs drive their large cut of the hourly rate paid by the client, ranging between 40 – 70%. For example, of the $200/hour rate paid by the client, as much as $140 is going to the staffing firms. Assuming the consultant is accepting a rate that is commensurate with their skill level, the client is getting grossly short-changed –paying $200/hour and getting a $60 -100/hour consultant. The staffing company is garnering a staggering $800 - $1,120 per eight-hour day as a finder’s fee and to manage payroll.

The inherencies in this model attract consultants who are willing to work for low rates. They tend to be lesser-experienced, lower-skilled individuals. Higher-qualified and experienced consultants who are confident in their abilities tend to avoid staffing firms.

Staffing firms are limited by the pool of consultants they have on their rolls. Clients rely on the agencies to screen and select a consultant. The client will get the best consultant available in the agency’s pool –often “B team” or “C team” consultants.  

Find A Management Consultant

The use of Staffing firms made sense years ago in the absence of the technology that is now available. Brick-and-mortar infrastructure was necessary to house large staffs and stores of paper resumes and other information. The large staffs were necessary to collect and organize the information, read through resumes, screen and make selections, and manage the client relationships. These were time-consuming, paper-heavy tasks. It made sense to farm out these functions to staffing firms. Today, technology has allowed us to streamline the old methods and drastically reduce or eliminate the costs of staff, time, and infrastructure.

As companies look more critically at the quality of services provided by the traditional models in light of the costs of those services, they are seeking alternatives that are more efficient and provide better value.

Continue to . . . Breaking Free: A Changing Employment Market

Key Takeaways of Breaking Free of The Old Ways of Sourcing Management Consultants:

  • Staffing firms incur high overhead through large staffs and brick-and-mortar infrastructure
  • Inherent in their model, staffing firms often provide “B” team or “C” team consultants
  • Clients are seeking to streamline the costs and inefficiencies of the large and mid-size consultancies and staffing firms

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Breaking Free: Costs of Outdated Models (Part 2)

In this third of a series which considers three catalysts for change in the management consultant market, we continue looking at the characteristics of the outdated models that create a readiness for change and innovation.  

Large and mid-size consultancies have used technology mostly to improve their own operations. Yes, the client benefits from a consultancy’s use of technology, but not without a greater-than efficiency gain or profit on the consultancy side.   

Methodologies and models are developed to leverage the efficiencies of being able to use them repeatedly across multiple clients. Most industries amortize their investments in R&D over the life of a product, i.e., it is a portion of the price paid by the buyer. It would be impractical to charge every customer full cost of development, but that is what many consultancies do. They price their proprietary methodologies or models as though they were fully developed for each client. In other words, the value of those efficiencies is kept by the consultancy.  

Another costly practice to the client is that of deploying teams of inexperienced, lesser-paid consultants supervised by a senior manager. This part of the “leveraged model” reduces overhead for the consultancy by managing salary costs.

These inexperienced consultants are often MBA graduates. They have jumped directly from an academic setting into the consultancy –an environment that is arguably still removed from real-world business. Most have no line experience within a company, which is perfect for the consultancy –no wasted time or resources to unlearn and deprogram differing methods or habits.   

Find A Management Consultant

MBA graduates are hungry to make their way in the business world and are enticed by the six-digit salaries. In their entry-level roles they are willing to take on tasks as directed and forego critical thinking in order to learn the company’s methodology and possibly advance in the organization. When the MBA grad reaches a certain point, they are either promoted or become so burned out from the travel and hours on the job that they leave. The cycle fits well with the consultancy. The next wave of hungry MBA grads is ready to take their place. Maintaining this rotation keeps the cost of the MBA’s hourly rate at $70 - $85 per hour while clients can be billed as much as 300% of that rate. The question is, “What value does the 300% buy the client?”

Our next blog is going to wrap up our look at the outdated models and then we’ll get to the catalysts.

Continue to . . . Breaking Free: Costs of Outdated Models (Part 3)

Key Takeaways of Breaking Free: Costs of Outdated Models (Part 2):

  • For the most part, the value of the methodologies and models developed by consultancies is kept by the consultancy
  • Staffing practices of the large houses are more to the benefit of the consultancy than to the client

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

In this third of a series which considers three catalysts for change in the management consultant market, we continue looking at the characteristics of the outdated models that create a readiness for change and innovation.  

Large and mid-size consultancies have used technology mostly to improve their own operations. Yes, the client benefits from a consultancy’s use of technology, but not without a greater-than efficiency gain or profit on the consultancy side.   

Methodologies and models are developed to leverage the efficiencies of being able to use them repeatedly across multiple clients. Most industries amortize their investments in R&D over the life of a product, i.e., it is a portion of the price paid by the buyer. It would be impractical to charge every customer full cost of development, but that is what many consultancies do. They price their proprietary methodologies or models as though they were fully developed for each client. In other words, the value of those efficiencies is kept by the consultancy.  

Another costly practice to the client is that of deploying teams of inexperienced, lesser-paid consultants supervised by a senior manager. This part of the “leveraged model” reduces overhead for the consultancy by managing salary costs.

These inexperienced consultants are often MBA graduates. They have jumped directly from an academic setting into the consultancy –an environment that is arguably still removed from real-world business. Most have no line experience within a company, which is perfect for the consultancy –no wasted time or resources to unlearn and deprogram differing methods or habits.   

Find A Management Consultant

MBA graduates are hungry to make their way in the business world and are enticed by the six-digit salaries. In their entry-level roles they are willing to take on tasks as directed and forego critical thinking in order to learn the company’s methodology and possibly advance in the organization. When the MBA grad reaches a certain point, they are either promoted or become so burned out from the travel and hours on the job that they leave. The cycle fits well with the consultancy. The next wave of hungry MBA grads is ready to take their place. Maintaining this rotation keeps the cost of the MBA’s hourly rate at $70 - $85 per hour while clients can be billed as much as 300% of that rate. The question is, “What value does the 300% buy the client?”

Our next blog is going to wrap up our look at the outdated models and then we’ll get to the catalysts.

Continue to . . . Breaking Free: Costs of Outdated Models (Part 3)

Key Takeaways of Breaking Free: Costs of Outdated Models (Part 2):

  • For the most part, the value of the methodologies and models developed by consultancies is kept by the consultancy
  • Staffing practices of the large houses are more to the benefit of the consultancy than to the client

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

In this third of a series which considers three catalysts for change in the management consultant market, we continue looking at the characteristics of the outdated models that create a readiness for change and innovation.  

Large and mid-size consultancies have used technology mostly to improve their own operations. Yes, the client benefits from a consultancy’s use of technology, but not without a greater-than efficiency gain or profit on the consultancy side.   

Methodologies and models are developed to leverage the efficiencies of being able to use them repeatedly across multiple clients. Most industries amortize their investments in R&D over the life of a product, i.e., it is a portion of the price paid by the buyer. It would be impractical to charge every customer full cost of development, but that is what many consultancies do. They price their proprietary methodologies or models as though they were fully developed for each client. In other words, the value of those efficiencies is kept by the consultancy.  

Another costly practice to the client is that of deploying teams of inexperienced, lesser-paid consultants supervised by a senior manager. This part of the “leveraged model” reduces overhead for the consultancy by managing salary costs.

These inexperienced consultants are often MBA graduates. They have jumped directly from an academic setting into the consultancy –an environment that is arguably still removed from real-world business. Most have no line experience within a company, which is perfect for the consultancy –no wasted time or resources to unlearn and deprogram differing methods or habits.   

Find A Management Consultant

MBA graduates are hungry to make their way in the business world and are enticed by the six-digit salaries. In their entry-level roles they are willing to take on tasks as directed and forego critical thinking in order to learn the company’s methodology and possibly advance in the organization. When the MBA grad reaches a certain point, they are either promoted or become so burned out from the travel and hours on the job that they leave. The cycle fits well with the consultancy. The next wave of hungry MBA grads is ready to take their place. Maintaining this rotation keeps the cost of the MBA’s hourly rate at $70 - $85 per hour while clients can be billed as much as 300% of that rate. The question is, “What value does the 300% buy the client?”

Our next blog is going to wrap up our look at the outdated models and then we’ll get to the catalysts.

Continue to . . . Breaking Free: Costs of Outdated Models (Part 3)

Key Takeaways of Breaking Free: Costs of Outdated Models (Part 2):

  • For the most part, the value of the methodologies and models developed by consultancies is kept by the consultancy
  • Staffing practices of the large houses are more to the benefit of the consultancy than to the client

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Breaking Free: Costs of Outdated Models (Part 1)

This blog is the second in a series that looks at three catalysts that are changing the management consultant market for the better.  

Before looking at the catalysts, it is necessary to understand the context of the market. The management consulting market can be segmented into roughly three categories: Consultancy houses (large, mid-tier, and small); staffing firms; and the independents and small practice partnerships. Each has its place in the market, advantages and disadvantages, and are laden with costs –some not so obvious– that affect their value and effectiveness.

Costs are manifested beyond the top-line hourly rates or project fees and are not always readily apparent to the client. Sometimes, the underlying drivers of cost are marketed as advantages.  

Most large and mid-sized consultancies utilize a leveraged model.  Often, the leveraged model is touted as an advantage that cannot be matched by smaller practices or independents. This is simply selling the business model that works best for you as an advantage for your customer. In reality, the leveraged model employed is a profit maximization design, not a quality service design.  

Find A Management Consultant

Consultancies use off-the-shelf (proprietary and commercial) templates and methodologies sold to clients under the guise of customized services. The cookie-cutter methods and tools used with a client have been or will be used with their competitors. “Best practices” and “proprietary methodologies”, when shared with competitors, level the competitive landscape. The cost to the client is loss of competitive advantage and closure of their innovation lead. These practices also set the consultancies up for sequels. They position the client to be sold service set “B” after service set “A” has saturated the market and competing companies are utilizing identical practices and methods.  

Our next blog will look at how large and mid-size consultancies use technology and MBA graduates to their own advantage.

Continue to . . . Breaking Free: Costs of Outdated Models (Part 2)

Key Takeaways of Breaking Free: Costs of Outdated Models (Part 1):

  • The Management Consultant segments that serve the market each have their advantages and disadvantages and are laden with costs that affect their value and effectiveness
  • The leveraged model is a profit maximization design, not a quality service design
  • Best practices are part of an obsolescence plan

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

This blog is the second in a series that looks at three catalysts that are changing the management consultant market for the better.  

Before looking at the catalysts, it is necessary to understand the context of the market. The management consulting market can be segmented into roughly three categories: Consultancy houses (large, mid-tier, and small); staffing firms; and the independents and small practice partnerships. Each has its place in the market, advantages and disadvantages, and are laden with costs –some not so obvious– that affect their value and effectiveness.

Costs are manifested beyond the top-line hourly rates or project fees and are not always readily apparent to the client. Sometimes, the underlying drivers of cost are marketed as advantages.  

Most large and mid-sized consultancies utilize a leveraged model.  Often, the leveraged model is touted as an advantage that cannot be matched by smaller practices or independents. This is simply selling the business model that works best for you as an advantage for your customer. In reality, the leveraged model employed is a profit maximization design, not a quality service design.  

Find A Management Consultant

Consultancies use off-the-shelf (proprietary and commercial) templates and methodologies sold to clients under the guise of customized services. The cookie-cutter methods and tools used with a client have been or will be used with their competitors. “Best practices” and “proprietary methodologies”, when shared with competitors, level the competitive landscape. The cost to the client is loss of competitive advantage and closure of their innovation lead. These practices also set the consultancies up for sequels. They position the client to be sold service set “B” after service set “A” has saturated the market and competing companies are utilizing identical practices and methods.  

Our next blog will look at how large and mid-size consultancies use technology and MBA graduates to their own advantage.

Continue to . . . Breaking Free: Costs of Outdated Models (Part 2)

Key Takeaways of Breaking Free: Costs of Outdated Models (Part 1):

  • The Management Consultant segments that serve the market each have their advantages and disadvantages and are laden with costs that affect their value and effectiveness
  • The leveraged model is a profit maximization design, not a quality service design
  • Best practices are part of an obsolescence plan

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

This blog is the second in a series that looks at three catalysts that are changing the management consultant market for the better.  

Before looking at the catalysts, it is necessary to understand the context of the market. The management consulting market can be segmented into roughly three categories: Consultancy houses (large, mid-tier, and small); staffing firms; and the independents and small practice partnerships. Each has its place in the market, advantages and disadvantages, and are laden with costs –some not so obvious– that affect their value and effectiveness.

Costs are manifested beyond the top-line hourly rates or project fees and are not always readily apparent to the client. Sometimes, the underlying drivers of cost are marketed as advantages.  

Most large and mid-sized consultancies utilize a leveraged model.  Often, the leveraged model is touted as an advantage that cannot be matched by smaller practices or independents. This is simply selling the business model that works best for you as an advantage for your customer. In reality, the leveraged model employed is a profit maximization design, not a quality service design.  

Find A Management Consultant

Consultancies use off-the-shelf (proprietary and commercial) templates and methodologies sold to clients under the guise of customized services. The cookie-cutter methods and tools used with a client have been or will be used with their competitors. “Best practices” and “proprietary methodologies”, when shared with competitors, level the competitive landscape. The cost to the client is loss of competitive advantage and closure of their innovation lead. These practices also set the consultancies up for sequels. They position the client to be sold service set “B” after service set “A” has saturated the market and competing companies are utilizing identical practices and methods.  

Our next blog will look at how large and mid-size consultancies use technology and MBA graduates to their own advantage.

Continue to . . . Breaking Free: Costs of Outdated Models (Part 2)

Key Takeaways of Breaking Free: Costs of Outdated Models (Part 1):

  • The Management Consultant segments that serve the market each have their advantages and disadvantages and are laden with costs that affect their value and effectiveness
  • The leveraged model is a profit maximization design, not a quality service design
  • Best practices are part of an obsolescence plan

 


 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Break Free From the Old Ways of Sourcing Consultants

Until recently, the consulting market has remained unchanged for the last thirty years.  Bound in the chains of custom and habit, many clients needing management consultants are going to ride the back-end of the adoption curve before breaking free to gain the advantages of modern and improved sources. Regardless, the market will move forward and those on the front-end of the adoption curve will gain competitive advantage as well.  

If you are one of those riding the back-end, consider that there are market dynamics to leverage to your advantage by changing earlier rather than later. Today, like no other time in history, there are four dynamics that are driving the shift in the way that management consultants are sourced. Once you understand these, you are in a better position to understand why it is to your advantage to change.

Consider four dynamics in the consulting market:

Find A Management Consultant

  1. Costs of outdated models
  2. The changing employment market
  3. The collaborative independent
  4. A new generation of managers

Each of these, on their own, is not earth-shattering. The fact that they are simultaneously occurring is. Together, they have created a catalytic effect that is inducing change in the market.

This blog is the first in a series where we delve into the four dynamics to understand why a shift in how you source consultants plays to your advantage.  

Continue to . . . Breaking Free: Costs of Outdated Models (Part 1)

Key Takeaways of Breaking Free of the Old Ways of Sourcing Management Consultants:

  • The consulting market is finally moving out of its old ways.
  • There are four dynamics that are driving the shift in the way that management consultants are sourced
  • Understanding these dynamics places you in a better position to leverage the impending change

 


 
Break Free Series
1. Break Free From the Old Ways of Sourcing Consultants
2. Breaking Free: Costs of Outdated Models (Part 1, Part 2, Part 3)
3. Breaking Free: A Changing Employment Market
4. Breaking Free: The Collaborative Independent
5. Breaking Free: A New Generation of Managers
6. Breaking Free: Conclusion

 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

Until recently, the consulting market has remained unchanged for the last thirty years.  Bound in the chains of custom and habit, many clients needing management consultants are going to ride the back-end of the adoption curve before breaking free to gain the advantages of modern and improved sources. Regardless, the market will move forward and those on the front-end of the adoption curve will gain competitive advantage as well.  

If you are one of those riding the back-end, consider that there are market dynamics to leverage to your advantage by changing earlier rather than later. Today, like no other time in history, there are four dynamics that are driving the shift in the way that management consultants are sourced. Once you understand these, you are in a better position to understand why it is to your advantage to change.

Consider four dynamics in the consulting market:

Find A Management Consultant

  1. Costs of outdated models
  2. The changing employment market
  3. The collaborative independent
  4. A new generation of managers

Each of these, on their own, is not earth-shattering. The fact that they are simultaneously occurring is. Together, they have created a catalytic effect that is inducing change in the market.

This blog is the first in a series where we delve into the four dynamics to understand why a shift in how you source consultants plays to your advantage.  

Continue to . . . Breaking Free: Costs of Outdated Models (Part 1)

Key Takeaways of Breaking Free of the Old Ways of Sourcing Management Consultants:

  • The consulting market is finally moving out of its old ways.
  • There are four dynamics that are driving the shift in the way that management consultants are sourced
  • Understanding these dynamics places you in a better position to leverage the impending change

 


 
Break Free Series
1. Break Free From the Old Ways of Sourcing Consultants
2. Breaking Free: Costs of Outdated Models (Part 1, Part 2, Part 3)
3. Breaking Free: A Changing Employment Market
4. Breaking Free: The Collaborative Independent
5. Breaking Free: A New Generation of Managers
6. Breaking Free: Conclusion

 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

Until recently, the consulting market has remained unchanged for the last thirty years.  Bound in the chains of custom and habit, many clients needing management consultants are going to ride the back-end of the adoption curve before breaking free to gain the advantages of modern and improved sources. Regardless, the market will move forward and those on the front-end of the adoption curve will gain competitive advantage as well.  

If you are one of those riding the back-end, consider that there are market dynamics to leverage to your advantage by changing earlier rather than later. Today, like no other time in history, there are four dynamics that are driving the shift in the way that management consultants are sourced. Once you understand these, you are in a better position to understand why it is to your advantage to change.

Consider four dynamics in the consulting market:

Find A Management Consultant

  1. Costs of outdated models
  2. The changing employment market
  3. The collaborative independent
  4. A new generation of managers

Each of these, on their own, is not earth-shattering. The fact that they are simultaneously occurring is. Together, they have created a catalytic effect that is inducing change in the market.

This blog is the first in a series where we delve into the four dynamics to understand why a shift in how you source consultants plays to your advantage.  

Continue to . . . Breaking Free: Costs of Outdated Models (Part 1)

Key Takeaways of Breaking Free of the Old Ways of Sourcing Management Consultants:

  • The consulting market is finally moving out of its old ways.
  • There are four dynamics that are driving the shift in the way that management consultants are sourced
  • Understanding these dynamics places you in a better position to leverage the impending change

 


 
Break Free Series
1. Break Free From the Old Ways of Sourcing Consultants
2. Breaking Free: Costs of Outdated Models (Part 1, Part 2, Part 3)
3. Breaking Free: A Changing Employment Market
4. Breaking Free: The Collaborative Independent
5. Breaking Free: A New Generation of Managers
6. Breaking Free: Conclusion

 

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

How to Turn Your Resume Into New Business

As a consultant, if you are using a standard, chronological resume, it is probably hurting you more than it is helping. You have probably accumulated enough experiences where they need a logical means of grouping and organization. A standard resume makes it difficult for the client to look across your work for depth of experience in the competencies and offerings they are seeking –they have to dig and infer too much.

Standard resumes are fine (arguably) for finding a job as an employee, but as a consultant, they fall short of conveying your experience, capabilities, and offerings. The typical resume is a chronology of employment. What good is that for a client looking for someone with experiences and capabilities that meet their needs?   

So, as a consultant, how do you turn your resume into new business? Start by throwing it out! Then, capture your experiences in a format that groups your experiences logically –something like a functional resume. At MyNextConsultant.com, we call them Credentials.

There is a substantial difference in how resumes and credentials speak to the client and how the client perceives the value you bring to them. Credentials set forth your capabilities and evidence your expertise, whereas a resume documents your employment history.

In writing your credentials, it is up to you as to how you organize your experiences. There are a few ways to best categorize them: by Project, by Competency, or by Project Type: 

  • Your credentials can be organized by Project, with a paragraph or two of a work or a project you have done in the past under the project heading
     
  • Another way to organize your credentials is by your Competencies. Group your various supporting experiences under each competency heading. The client is able to scan your competencies and read further for the work or projects that you have done in those areas
     
  • Your credentials can also be organized by Project Type, with an itemization of your work and projects that make up that project type under each project type heading. Again, the client scans the Project Types and reads further for the work or projects you have done
     
  • Supplemental categories include Education & Training, Professional Associations and Memberships, an Industry credential that describes the extent of your experience in each industry, and an Overview that sets forth clearly your offerings, capabilities, depth of your bench, and other information

Presenting your experiences and capabilities in the format of categorized credentials as opposed to a chronological resume makes it easy for clients to find what is important to them.

Find A Management Consultant

It is up to you which category type (Project, Competency, or Project Type) to use. Remember, the goal is to make it easy for the client to clearly see what you offer, the experience that proves you have the insight and knowledge they need, and to instill in them the confidence that you deliver.

The bottom line is that this is the information that a client uses to judge your abilities – it is worth your time to thoughtfully and carefully present yourself.  

Key Takeaways of How to Turn Your Resume Into New Business:

  • Standard chronological resumes fall short of providing clients what they need to judge your capabilities
  • Grouping your experiences logically by Project, Competency, or Project Type speaks better to the client
  • It is worth your time to thoughtfully and carefully present yourself

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

As a consultant, if you are using a standard, chronological resume, it is probably hurting you more than it is helping. You have probably accumulated enough experiences where they need a logical means of grouping and organization. A standard resume makes it difficult for the client to look across your work for depth of experience in the competencies and offerings they are seeking –they have to dig and infer too much.

Standard resumes are fine (arguably) for finding a job as an employee, but as a consultant, they fall short of conveying your experience, capabilities, and offerings. The typical resume is a chronology of employment. What good is that for a client looking for someone with experiences and capabilities that meet their needs?   

So, as a consultant, how do you turn your resume into new business? Start by throwing it out! Then, capture your experiences in a format that groups your experiences logically –something like a functional resume. At MyNextConsultant.com, we call them Credentials.

There is a substantial difference in how resumes and credentials speak to the client and how the client perceives the value you bring to them. Credentials set forth your capabilities and evidence your expertise, whereas a resume documents your employment history.

In writing your credentials, it is up to you as to how you organize your experiences. There are a few ways to best categorize them: by Project, by Competency, or by Project Type: 

  • Your credentials can be organized by Project, with a paragraph or two of a work or a project you have done in the past under the project heading
     
  • Another way to organize your credentials is by your Competencies. Group your various supporting experiences under each competency heading. The client is able to scan your competencies and read further for the work or projects that you have done in those areas
     
  • Your credentials can also be organized by Project Type, with an itemization of your work and projects that make up that project type under each project type heading. Again, the client scans the Project Types and reads further for the work or projects you have done
     
  • Supplemental categories include Education & Training, Professional Associations and Memberships, an Industry credential that describes the extent of your experience in each industry, and an Overview that sets forth clearly your offerings, capabilities, depth of your bench, and other information

Presenting your experiences and capabilities in the format of categorized credentials as opposed to a chronological resume makes it easy for clients to find what is important to them.

Find A Management Consultant

It is up to you which category type (Project, Competency, or Project Type) to use. Remember, the goal is to make it easy for the client to clearly see what you offer, the experience that proves you have the insight and knowledge they need, and to instill in them the confidence that you deliver.

The bottom line is that this is the information that a client uses to judge your abilities – it is worth your time to thoughtfully and carefully present yourself.  

Key Takeaways of How to Turn Your Resume Into New Business:

  • Standard chronological resumes fall short of providing clients what they need to judge your capabilities
  • Grouping your experiences logically by Project, Competency, or Project Type speaks better to the client
  • It is worth your time to thoughtfully and carefully present yourself

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

As a consultant, if you are using a standard, chronological resume, it is probably hurting you more than it is helping. You have probably accumulated enough experiences where they need a logical means of grouping and organization. A standard resume makes it difficult for the client to look across your work for depth of experience in the competencies and offerings they are seeking –they have to dig and infer too much.

Standard resumes are fine (arguably) for finding a job as an employee, but as a consultant, they fall short of conveying your experience, capabilities, and offerings. The typical resume is a chronology of employment. What good is that for a client looking for someone with experiences and capabilities that meet their needs?   

So, as a consultant, how do you turn your resume into new business? Start by throwing it out! Then, capture your experiences in a format that groups your experiences logically –something like a functional resume. At MyNextConsultant.com, we call them Credentials.

There is a substantial difference in how resumes and credentials speak to the client and how the client perceives the value you bring to them. Credentials set forth your capabilities and evidence your expertise, whereas a resume documents your employment history.

In writing your credentials, it is up to you as to how you organize your experiences. There are a few ways to best categorize them: by Project, by Competency, or by Project Type: 

  • Your credentials can be organized by Project, with a paragraph or two of a work or a project you have done in the past under the project heading
     
  • Another way to organize your credentials is by your Competencies. Group your various supporting experiences under each competency heading. The client is able to scan your competencies and read further for the work or projects that you have done in those areas
     
  • Your credentials can also be organized by Project Type, with an itemization of your work and projects that make up that project type under each project type heading. Again, the client scans the Project Types and reads further for the work or projects you have done
     
  • Supplemental categories include Education & Training, Professional Associations and Memberships, an Industry credential that describes the extent of your experience in each industry, and an Overview that sets forth clearly your offerings, capabilities, depth of your bench, and other information

Presenting your experiences and capabilities in the format of categorized credentials as opposed to a chronological resume makes it easy for clients to find what is important to them.

Find A Management Consultant

It is up to you which category type (Project, Competency, or Project Type) to use. Remember, the goal is to make it easy for the client to clearly see what you offer, the experience that proves you have the insight and knowledge they need, and to instill in them the confidence that you deliver.

The bottom line is that this is the information that a client uses to judge your abilities – it is worth your time to thoughtfully and carefully present yourself.  

Key Takeaways of How to Turn Your Resume Into New Business:

  • Standard chronological resumes fall short of providing clients what they need to judge your capabilities
  • Grouping your experiences logically by Project, Competency, or Project Type speaks better to the client
  • It is worth your time to thoughtfully and carefully present yourself

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Featuring Your Expertise, Your Way

Think about it, how often do you have the chance to present your expertise, offerings and capabilities directly to potential clients? The opportunities are not only limited, but competitive. So when you do have that opportunity, your presentation better be your absolute best.    

Many of us became consultants to become our own boss –to get out from underneath the dependent state of employment. It is in this spirit that it makes sense to pursue those channels that avoid middle-men and place you directly in front of the client to represent yourself the way you need to be represented. You are responsible for how you are represented, so don’t leave it to someone else.

Nobody represents you better than YOU. Nobody has the vested interest, the passion, nor the intimacy of your experience and background like you. Third parties who stand between you and the client have a choice of consultants and don’t care whether they contract with one or the other –the name of their game is billable hours.  

It stands to reason that you want to create every opportunity to make direct connections with potential clients –to best represent your expertise, offerings and capabilities.

Find A Management Consultant

So, if the most effective way to represent yourself is to do so directly with potential clients, then be sure your presentation is absolutely the best it can be and that you are utilizing channels that allow you to present yourself directly to the client.

Key Takeaways of Featuring Your Expertise, Your Way:

  • Opportunities to directly sell yourself to potential clients are limited and competitive
  • Nobody represents you better than you
  • Be sure your presentation is absolutely the best it can be and that you are utilizing channels that allow you to present yourself directly to the client

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Think about it, how often do you have the chance to present your expertise, offerings and capabilities directly to potential clients? The opportunities are not only limited, but competitive. So when you do have that opportunity, your presentation better be your absolute best.    

Many of us became consultants to become our own boss –to get out from underneath the dependent state of employment. It is in this spirit that it makes sense to pursue those channels that avoid middle-men and place you directly in front of the client to represent yourself the way you need to be represented. You are responsible for how you are represented, so don’t leave it to someone else.

Nobody represents you better than YOU. Nobody has the vested interest, the passion, nor the intimacy of your experience and background like you. Third parties who stand between you and the client have a choice of consultants and don’t care whether they contract with one or the other –the name of their game is billable hours.  

It stands to reason that you want to create every opportunity to make direct connections with potential clients –to best represent your expertise, offerings and capabilities.

Find A Management Consultant

So, if the most effective way to represent yourself is to do so directly with potential clients, then be sure your presentation is absolutely the best it can be and that you are utilizing channels that allow you to present yourself directly to the client.

Key Takeaways of Featuring Your Expertise, Your Way:

  • Opportunities to directly sell yourself to potential clients are limited and competitive
  • Nobody represents you better than you
  • Be sure your presentation is absolutely the best it can be and that you are utilizing channels that allow you to present yourself directly to the client

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Think about it, how often do you have the chance to present your expertise, offerings and capabilities directly to potential clients? The opportunities are not only limited, but competitive. So when you do have that opportunity, your presentation better be your absolute best.    

Many of us became consultants to become our own boss –to get out from underneath the dependent state of employment. It is in this spirit that it makes sense to pursue those channels that avoid middle-men and place you directly in front of the client to represent yourself the way you need to be represented. You are responsible for how you are represented, so don’t leave it to someone else.

Nobody represents you better than YOU. Nobody has the vested interest, the passion, nor the intimacy of your experience and background like you. Third parties who stand between you and the client have a choice of consultants and don’t care whether they contract with one or the other –the name of their game is billable hours.  

It stands to reason that you want to create every opportunity to make direct connections with potential clients –to best represent your expertise, offerings and capabilities.

Find A Management Consultant

So, if the most effective way to represent yourself is to do so directly with potential clients, then be sure your presentation is absolutely the best it can be and that you are utilizing channels that allow you to present yourself directly to the client.

Key Takeaways of Featuring Your Expertise, Your Way:

  • Opportunities to directly sell yourself to potential clients are limited and competitive
  • Nobody represents you better than you
  • Be sure your presentation is absolutely the best it can be and that you are utilizing channels that allow you to present yourself directly to the client

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Benefits of Direct Connections

Connecting with clients outside their network is a challenge for most solo practitioners and small-practice management consultancies. Given the choice, direct connections to clients are preferred. Middle-men, such as staffing firms and consulting houses, have historically had a foothold on the market of connecting clients to consultants. Many consultants have grown dependent on the middle-man models. Like so many other markets, technology is doing for the consulting market what could not be done before: Directly connect the local supplier who has an offering that is specialized, of value, or unique, to the larger market for the benefit of both.  

The benefits of consultants connecting directly with clients should be no surprise to anyone, but sometimes the obvious is hidden behind custom and habit. So let’s take a look at why solo practitioners and small-practice management consultancies have to more seriously consider connecting directly with clients.

You control your presentation. You control how you want to be represented to clients. You emphasize your strengths and you are best able to represent the nuances of what sets you apart from others.

Clients see you the way you want them to see you. When clients have direct access to information about you that you have yourself created, you are more likely to obtain projects that are commensurate with your experience and background.   

Greater flexibility. Without having to worry about the non-compete clauses of middle-men, you are able move about freely within the market. Additionally, you are able to negotiate with each client to best suit the engagement.

More money in your pocket. You are probably not burdened with the heavy overhead of covering a large staff and brick-and-mortar. When clients are engaged directly with you, fees paid by the client are not interposed by middle-men.  

Better value for the client. Without a middle-man, the quality of consultant is more likely to be commensurate with their fees –resulting in higher satisfaction for the client.   

Client flexibility. Clients have options for bringing you on as a management consultant. They can contract you directly as a 1099 or they can pay the nominal fees of a payroll service to engage you.

Find A Management Consultant

As the management consulting market catches up through technology with services that provide direct connections between clients and consultants, both clients and consultants are reaping the benefits of direct engagements.

Key Takeaways of Benefits of Direct Connections:

  • Connecting with clients outside their network is a challenge for most solo practitioners and small-practice management consultancies
  • Clients stand to benefit from direct connections as much as consultants
  • Direct connections are becoming easier today with web technology

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Connecting with clients outside their network is a challenge for most solo practitioners and small-practice management consultancies. Given the choice, direct connections to clients are preferred. Middle-men, such as staffing firms and consulting houses, have historically had a foothold on the market of connecting clients to consultants. Many consultants have grown dependent on the middle-man models. Like so many other markets, technology is doing for the consulting market what could not be done before: Directly connect the local supplier who has an offering that is specialized, of value, or unique, to the larger market for the benefit of both.  

The benefits of consultants connecting directly with clients should be no surprise to anyone, but sometimes the obvious is hidden behind custom and habit. So let’s take a look at why solo practitioners and small-practice management consultancies have to more seriously consider connecting directly with clients.

You control your presentation. You control how you want to be represented to clients. You emphasize your strengths and you are best able to represent the nuances of what sets you apart from others.

Clients see you the way you want them to see you. When clients have direct access to information about you that you have yourself created, you are more likely to obtain projects that are commensurate with your experience and background.   

Greater flexibility. Without having to worry about the non-compete clauses of middle-men, you are able move about freely within the market. Additionally, you are able to negotiate with each client to best suit the engagement.

More money in your pocket. You are probably not burdened with the heavy overhead of covering a large staff and brick-and-mortar. When clients are engaged directly with you, fees paid by the client are not interposed by middle-men.  

Better value for the client. Without a middle-man, the quality of consultant is more likely to be commensurate with their fees –resulting in higher satisfaction for the client.   

Client flexibility. Clients have options for bringing you on as a management consultant. They can contract you directly as a 1099 or they can pay the nominal fees of a payroll service to engage you.

Find A Management Consultant

As the management consulting market catches up through technology with services that provide direct connections between clients and consultants, both clients and consultants are reaping the benefits of direct engagements.

Key Takeaways of Benefits of Direct Connections:

  • Connecting with clients outside their network is a challenge for most solo practitioners and small-practice management consultancies
  • Clients stand to benefit from direct connections as much as consultants
  • Direct connections are becoming easier today with web technology

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Connecting with clients outside their network is a challenge for most solo practitioners and small-practice management consultancies. Given the choice, direct connections to clients are preferred. Middle-men, such as staffing firms and consulting houses, have historically had a foothold on the market of connecting clients to consultants. Many consultants have grown dependent on the middle-man models. Like so many other markets, technology is doing for the consulting market what could not be done before: Directly connect the local supplier who has an offering that is specialized, of value, or unique, to the larger market for the benefit of both.  

The benefits of consultants connecting directly with clients should be no surprise to anyone, but sometimes the obvious is hidden behind custom and habit. So let’s take a look at why solo practitioners and small-practice management consultancies have to more seriously consider connecting directly with clients.

You control your presentation. You control how you want to be represented to clients. You emphasize your strengths and you are best able to represent the nuances of what sets you apart from others.

Clients see you the way you want them to see you. When clients have direct access to information about you that you have yourself created, you are more likely to obtain projects that are commensurate with your experience and background.   

Greater flexibility. Without having to worry about the non-compete clauses of middle-men, you are able move about freely within the market. Additionally, you are able to negotiate with each client to best suit the engagement.

More money in your pocket. You are probably not burdened with the heavy overhead of covering a large staff and brick-and-mortar. When clients are engaged directly with you, fees paid by the client are not interposed by middle-men.  

Better value for the client. Without a middle-man, the quality of consultant is more likely to be commensurate with their fees –resulting in higher satisfaction for the client.   

Client flexibility. Clients have options for bringing you on as a management consultant. They can contract you directly as a 1099 or they can pay the nominal fees of a payroll service to engage you.

Find A Management Consultant

As the management consulting market catches up through technology with services that provide direct connections between clients and consultants, both clients and consultants are reaping the benefits of direct engagements.

Key Takeaways of Benefits of Direct Connections:

  • Connecting with clients outside their network is a challenge for most solo practitioners and small-practice management consultancies
  • Clients stand to benefit from direct connections as much as consultants
  • Direct connections are becoming easier today with web technology

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Showing Your Expertise to New Clients

Whether it is your elevator speech, your website, your profile on a web-based directory or social media, these tools are important interfaces with potential clients for the purpose of expressing your expertise and credibility and how you are of value to them –all in the name of business development.  

First, recognize that all of the aforementioned tools are valuable opportunities for connecting directly with potential clients –don’t waste them. There is no barrier, no middle-man. Just you and the client. This fact alone should compel you to invest time and effort in developing your “face” to the client. Here at MyNextConsultant.com, we have seen profiles that are compelling and others that, well, are not. The difference isn’t in the amount of experience a consultant has, but in how much time and effort consultant “A” has invested in expressing their credentials (evidence of expertise) compared to consultant “B”.   

Second, let’s recognize the importance of each “exposure” to a potential client. Every client who hears your elevator speech, sees your website, or reads your profile chooses to connect with you or someone else. This requires your absolute best presentation. How confident are you in how you represent yourself? How does your presentation compare to your competitors’?

Clients compare your expertise to other consultants and consultancies, so the way you express your credentials must do two things: 1) Capture the client within seconds as they read your credentials and compare you to other options; and 2) Impress confidence in the client –enough to prompt them to contact you.  That confidence is conveyed through the quality of your presentation.  

As a management consultant, your experience is your most important asset. Investing time and effort to write the credentials that express your expertise is an important part of your business. Hiring an editor or a coach to help you should not be out of the question and will return manifold.  

Find A Management Consultant

Opportunities to show clients your expertise are valuable and must not be squandered with anything less than your best effort in expressing your credentials. After all, your demonstrated ability to express your own expertise is in itself a loud and clear statement to the client.

Key Takeaways to Breaking out Beyond Your Personal Networks:

  • Clients compare your expertise to other consultants and consultancies, so the way you express your credentials is important
  • Opportunities to show clients your expertise are valuable and must not be squandered with anything less than your best effort in expressing your credentials  

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

Whether it is your elevator speech, your website, your profile on a web-based directory or social media, these tools are important interfaces with potential clients for the purpose of expressing your expertise and credibility and how you are of value to them –all in the name of business development.  

First, recognize that all of the aforementioned tools are valuable opportunities for connecting directly with potential clients –don’t waste them. There is no barrier, no middle-man. Just you and the client. This fact alone should compel you to invest time and effort in developing your “face” to the client. Here at MyNextConsultant.com, we have seen profiles that are compelling and others that, well, are not. The difference isn’t in the amount of experience a consultant has, but in how much time and effort consultant “A” has invested in expressing their credentials (evidence of expertise) compared to consultant “B”.   

Second, let’s recognize the importance of each “exposure” to a potential client. Every client who hears your elevator speech, sees your website, or reads your profile chooses to connect with you or someone else. This requires your absolute best presentation. How confident are you in how you represent yourself? How does your presentation compare to your competitors’?

Clients compare your expertise to other consultants and consultancies, so the way you express your credentials must do two things: 1) Capture the client within seconds as they read your credentials and compare you to other options; and 2) Impress confidence in the client –enough to prompt them to contact you.  That confidence is conveyed through the quality of your presentation.  

As a management consultant, your experience is your most important asset. Investing time and effort to write the credentials that express your expertise is an important part of your business. Hiring an editor or a coach to help you should not be out of the question and will return manifold.  

Find A Management Consultant

Opportunities to show clients your expertise are valuable and must not be squandered with anything less than your best effort in expressing your credentials. After all, your demonstrated ability to express your own expertise is in itself a loud and clear statement to the client.

Key Takeaways to Breaking out Beyond Your Personal Networks:

  • Clients compare your expertise to other consultants and consultancies, so the way you express your credentials is important
  • Opportunities to show clients your expertise are valuable and must not be squandered with anything less than your best effort in expressing your credentials  

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

Whether it is your elevator speech, your website, your profile on a web-based directory or social media, these tools are important interfaces with potential clients for the purpose of expressing your expertise and credibility and how you are of value to them –all in the name of business development.  

First, recognize that all of the aforementioned tools are valuable opportunities for connecting directly with potential clients –don’t waste them. There is no barrier, no middle-man. Just you and the client. This fact alone should compel you to invest time and effort in developing your “face” to the client. Here at MyNextConsultant.com, we have seen profiles that are compelling and others that, well, are not. The difference isn’t in the amount of experience a consultant has, but in how much time and effort consultant “A” has invested in expressing their credentials (evidence of expertise) compared to consultant “B”.   

Second, let’s recognize the importance of each “exposure” to a potential client. Every client who hears your elevator speech, sees your website, or reads your profile chooses to connect with you or someone else. This requires your absolute best presentation. How confident are you in how you represent yourself? How does your presentation compare to your competitors’?

Clients compare your expertise to other consultants and consultancies, so the way you express your credentials must do two things: 1) Capture the client within seconds as they read your credentials and compare you to other options; and 2) Impress confidence in the client –enough to prompt them to contact you.  That confidence is conveyed through the quality of your presentation.  

As a management consultant, your experience is your most important asset. Investing time and effort to write the credentials that express your expertise is an important part of your business. Hiring an editor or a coach to help you should not be out of the question and will return manifold.  

Find A Management Consultant

Opportunities to show clients your expertise are valuable and must not be squandered with anything less than your best effort in expressing your credentials. After all, your demonstrated ability to express your own expertise is in itself a loud and clear statement to the client.

Key Takeaways to Breaking out Beyond Your Personal Networks:

  • Clients compare your expertise to other consultants and consultancies, so the way you express your credentials is important
  • Opportunities to show clients your expertise are valuable and must not be squandered with anything less than your best effort in expressing your credentials  

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

Breaking out Beyond Your Personal Networks

A friend of mine who has been in the consulting business for over twenty years is finally hanging it up. In his words, “My contacts are all being forced to retire or retired on their own.” Rarely can a consulting practice sustain long-term and continuous work solely through personal networks. Although twenty years is a good run, my friend finally reached the inevitable.  

A wise and disciplined person takes the cream of lessons learned from the top of someone else’s situation. Like my friend, many of us started our practices through personal networks –those we have established through our work over the years. For most of us, personal networks don’t provide the long-term stream of work required to flourish as a solo practitioner or small practice.  

Relying on personal networks to sustain a steady stream of work is analogous to putting all your eggs in one basket –it’s risky. As management consultants, we are accustomed to assessing and addressing risk for our clients. We have to be able to maintain the same objective perspective to our own benefit in business development.  

Breaking out of your personal networks doesn’t mean that you have to abandon them. Personal networking should always be done, but your business development activities must be multi-faceted. Other means of business development have their own strengths and weaknesses, so it is important to consider the following variables when assessing business development channels:

  • Your time to work it
  • Dollar investment to play
  • Cost of obtaining work through the channel
  • Breadth of market reached (by industry and geography)
  • Barriers between consultant and client
  • Readiness of clients to engage
  • The probability of obtaining work

All of these combine to create a different “ROI” for the various business development channels:

  • Personal Networks
  • Web-based Consultant Search Services
  • Referrals
  • Social Media
  • Conventions, Meetings, and Networking Events
  • Traditional Marketing & Promotion
  • Staffing Firms
  • Consulting Houses

This is not to be construed as a collectively exhaustive list.

Working those channels that require little or no investment of time or money (i.e., low risk) should be worked first. Those that require continuous investment of time and money or take a large portion of your rate may be pushed further down the list.    

Find A Management Consultant

A successful management consulting practice requires an approach that deliberately selects, plans and executes multi-channeled business development.  
 

Key Takeaways to Breaking out Beyond Your Personal Networks:

  • Personal networks alone will not provide the long-term stream of work required to flourish as a solo practitioner or small practice.
  • Working those channels that require little or no investment of time or money should be worked first.
  • A successful management consulting practice requires an approach that deliberately selects, plans and executes multi-channeled business development.

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

A friend of mine who has been in the consulting business for over twenty years is finally hanging it up. In his words, “My contacts are all being forced to retire or retired on their own.” Rarely can a consulting practice sustain long-term and continuous work solely through personal networks. Although twenty years is a good run, my friend finally reached the inevitable.  

A wise and disciplined person takes the cream of lessons learned from the top of someone else’s situation. Like my friend, many of us started our practices through personal networks –those we have established through our work over the years. For most of us, personal networks don’t provide the long-term stream of work required to flourish as a solo practitioner or small practice.  

Relying on personal networks to sustain a steady stream of work is analogous to putting all your eggs in one basket –it’s risky. As management consultants, we are accustomed to assessing and addressing risk for our clients. We have to be able to maintain the same objective perspective to our own benefit in business development.  

Breaking out of your personal networks doesn’t mean that you have to abandon them. Personal networking should always be done, but your business development activities must be multi-faceted. Other means of business development have their own strengths and weaknesses, so it is important to consider the following variables when assessing business development channels:

  • Your time to work it
  • Dollar investment to play
  • Cost of obtaining work through the channel
  • Breadth of market reached (by industry and geography)
  • Barriers between consultant and client
  • Readiness of clients to engage
  • The probability of obtaining work

All of these combine to create a different “ROI” for the various business development channels:

  • Personal Networks
  • Web-based Consultant Search Services
  • Referrals
  • Social Media
  • Conventions, Meetings, and Networking Events
  • Traditional Marketing & Promotion
  • Staffing Firms
  • Consulting Houses

This is not to be construed as a collectively exhaustive list.

Working those channels that require little or no investment of time or money (i.e., low risk) should be worked first. Those that require continuous investment of time and money or take a large portion of your rate may be pushed further down the list.    

Find A Management Consultant

A successful management consulting practice requires an approach that deliberately selects, plans and executes multi-channeled business development.  
 

Key Takeaways to Breaking out Beyond Your Personal Networks:

  • Personal networks alone will not provide the long-term stream of work required to flourish as a solo practitioner or small practice.
  • Working those channels that require little or no investment of time or money should be worked first.
  • A successful management consulting practice requires an approach that deliberately selects, plans and executes multi-channeled business development.

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

A friend of mine who has been in the consulting business for over twenty years is finally hanging it up. In his words, “My contacts are all being forced to retire or retired on their own.” Rarely can a consulting practice sustain long-term and continuous work solely through personal networks. Although twenty years is a good run, my friend finally reached the inevitable.  

A wise and disciplined person takes the cream of lessons learned from the top of someone else’s situation. Like my friend, many of us started our practices through personal networks –those we have established through our work over the years. For most of us, personal networks don’t provide the long-term stream of work required to flourish as a solo practitioner or small practice.  

Relying on personal networks to sustain a steady stream of work is analogous to putting all your eggs in one basket –it’s risky. As management consultants, we are accustomed to assessing and addressing risk for our clients. We have to be able to maintain the same objective perspective to our own benefit in business development.  

Breaking out of your personal networks doesn’t mean that you have to abandon them. Personal networking should always be done, but your business development activities must be multi-faceted. Other means of business development have their own strengths and weaknesses, so it is important to consider the following variables when assessing business development channels:

  • Your time to work it
  • Dollar investment to play
  • Cost of obtaining work through the channel
  • Breadth of market reached (by industry and geography)
  • Barriers between consultant and client
  • Readiness of clients to engage
  • The probability of obtaining work

All of these combine to create a different “ROI” for the various business development channels:

  • Personal Networks
  • Web-based Consultant Search Services
  • Referrals
  • Social Media
  • Conventions, Meetings, and Networking Events
  • Traditional Marketing & Promotion
  • Staffing Firms
  • Consulting Houses

This is not to be construed as a collectively exhaustive list.

Working those channels that require little or no investment of time or money (i.e., low risk) should be worked first. Those that require continuous investment of time and money or take a large portion of your rate may be pushed further down the list.    

Find A Management Consultant

A successful management consulting practice requires an approach that deliberately selects, plans and executes multi-channeled business development.  
 

Key Takeaways to Breaking out Beyond Your Personal Networks:

  • Personal networks alone will not provide the long-term stream of work required to flourish as a solo practitioner or small practice.
  • Working those channels that require little or no investment of time or money should be worked first.
  • A successful management consulting practice requires an approach that deliberately selects, plans and executes multi-channeled business development.

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

The Changing Landscape of the Consulting Market

Changing Markets

The changing employment market is helping to form a new landscape for independent and small-practice consultancies.

Cost-conscious companies are shedding employees who are in functions not considered core to their business. By streamlining operations and responding to the growing burden of regulations that impose costs associated with full-time employees, more employees are released into the job market.   

An increasing number of ex-employees are choosing to become self-employed, offering their experience and skills in the form of consulting services.

Those who once thought that becoming an independent consultant was too risky are jumping into the consulting market. The instability of being employed in an environment of impending layoffs has become equal to or greater than the risk of being self-employed. This phenomenon is a profound statement of the trending benefit-risk profiles between employment and independence. This has fueled the increase in independent consultants. Given the shift in the global economy, the trend is expected to continue in the U.S. 

On the Employer Side

On the employer side, the need for non-core functions remains –with or without employees. Companies will continue to contract the skills needed to support non-core functions, creating a greater demand for the growing consultant population.

Find A Management Consultant

A new generation of professionals is moving up.  Late Gen-X and many Gen-Y employees are moving into management positions. They are becoming the line managers who contract for consulting services. Having been raised on computers and hand-helds, they don’t think twice about obtaining information or making purchases using technology. Finding consultants through a technology channel is a no-brainer for them. They are looking for and expect a technology alternative for sourcing consultants. Given a technology option to embrace, this new generation will be more likely to question the old consulting models for their consulting needs.  

Key Takeaways to The Changing Landscape of the Consulting Market:

  • The reduction in force by employers has fueled the increase in independent consultants
  • As the tech-savvy generations move into management positions, they expect technology alternatives for sourcing consultants
  • Web-based solutions play an important role in revealing the unseen market of independent and small practice consultancies

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Changing Markets

The changing employment market is helping to form a new landscape for independent and small-practice consultancies.

Cost-conscious companies are shedding employees who are in functions not considered core to their business. By streamlining operations and responding to the growing burden of regulations that impose costs associated with full-time employees, more employees are released into the job market.   

An increasing number of ex-employees are choosing to become self-employed, offering their experience and skills in the form of consulting services.

Those who once thought that becoming an independent consultant was too risky are jumping into the consulting market. The instability of being employed in an environment of impending layoffs has become equal to or greater than the risk of being self-employed. This phenomenon is a profound statement of the trending benefit-risk profiles between employment and independence. This has fueled the increase in independent consultants. Given the shift in the global economy, the trend is expected to continue in the U.S. 

On the Employer Side

On the employer side, the need for non-core functions remains –with or without employees. Companies will continue to contract the skills needed to support non-core functions, creating a greater demand for the growing consultant population.

Find A Management Consultant

A new generation of professionals is moving up.  Late Gen-X and many Gen-Y employees are moving into management positions. They are becoming the line managers who contract for consulting services. Having been raised on computers and hand-helds, they don’t think twice about obtaining information or making purchases using technology. Finding consultants through a technology channel is a no-brainer for them. They are looking for and expect a technology alternative for sourcing consultants. Given a technology option to embrace, this new generation will be more likely to question the old consulting models for their consulting needs.  

Key Takeaways to The Changing Landscape of the Consulting Market:

  • The reduction in force by employers has fueled the increase in independent consultants
  • As the tech-savvy generations move into management positions, they expect technology alternatives for sourcing consultants
  • Web-based solutions play an important role in revealing the unseen market of independent and small practice consultancies

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Changing Markets

The changing employment market is helping to form a new landscape for independent and small-practice consultancies.

Cost-conscious companies are shedding employees who are in functions not considered core to their business. By streamlining operations and responding to the growing burden of regulations that impose costs associated with full-time employees, more employees are released into the job market.   

An increasing number of ex-employees are choosing to become self-employed, offering their experience and skills in the form of consulting services.

Those who once thought that becoming an independent consultant was too risky are jumping into the consulting market. The instability of being employed in an environment of impending layoffs has become equal to or greater than the risk of being self-employed. This phenomenon is a profound statement of the trending benefit-risk profiles between employment and independence. This has fueled the increase in independent consultants. Given the shift in the global economy, the trend is expected to continue in the U.S. 

On the Employer Side

On the employer side, the need for non-core functions remains –with or without employees. Companies will continue to contract the skills needed to support non-core functions, creating a greater demand for the growing consultant population.

Find A Management Consultant

A new generation of professionals is moving up.  Late Gen-X and many Gen-Y employees are moving into management positions. They are becoming the line managers who contract for consulting services. Having been raised on computers and hand-helds, they don’t think twice about obtaining information or making purchases using technology. Finding consultants through a technology channel is a no-brainer for them. They are looking for and expect a technology alternative for sourcing consultants. Given a technology option to embrace, this new generation will be more likely to question the old consulting models for their consulting needs.  

Key Takeaways to The Changing Landscape of the Consulting Market:

  • The reduction in force by employers has fueled the increase in independent consultants
  • As the tech-savvy generations move into management positions, they expect technology alternatives for sourcing consultants
  • Web-based solutions play an important role in revealing the unseen market of independent and small practice consultancies

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Management Consultants: Resume vs. Experience

If you are a management consultant using a chronological resume, consider changing. While most of our business development is direct interpersonal communication, consultants are remiss not to have carefully thought through and documented their experiences, achievements, education, and training in a way that is client-friendly –what we at MyNextConsultant call credentials.  

The goal of your credentials is to make it easy for the client to clearly see what you offer, the experience that proves you have the insight and knowledge they need, and to instill in them the confidence that you deliver. A resume does not serve well to communicate these important factors. Why? It is typically formatted in a chronology of work history, with accomplishments under each job. This makes it difficult for the client to look across your work for depth of experience in the competencies/offerings that are important to them –they have to dig and infer too much.

The easier you make it for the client to get the information that is important and meaningful to them, the more likely they engage you. A multi-page resume loses a client in their frustration of trying to understand your offerings, whereas your experiences categorized by type of work brings order to your experiences that are meaningful.   

The example below gives you an idea of one way to present your experiences, with “Organizational Change / Transition” as the type of work and the relevant experiences underneath it. A client is going to scan three or four pages of this format and quickly see the breadth of your experiences and, more importantly, focus on the ones they are interested.

Additional credentials can be added for categories like Education and Training, Professional Associations and Memberships, an Industry credential that describes the extent of your experience in each industry, and an Overview credential that sets forth clearly your offerings, capabilities, depth of your bench, and other information.

Find A Management Consultant

The bottom line is that this is the information that a client uses to judge your abilities – it is worth your time to carefully think through and write your credentials in a way that is meaningful to the client.

Key Takeaways to Optimizing Business Development:

  • Clients have to dig and infer too much from a chronological resume
  • The easier you make it for the client to get the information that is important and meaningful to them, the more likely they engage you
  • It is worth your time to carefully think through and write your credentials in a way that is meaningful to the client

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

If you are a management consultant using a chronological resume, consider changing. While most of our business development is direct interpersonal communication, consultants are remiss not to have carefully thought through and documented their experiences, achievements, education, and training in a way that is client-friendly –what we at MyNextConsultant call credentials.  

The goal of your credentials is to make it easy for the client to clearly see what you offer, the experience that proves you have the insight and knowledge they need, and to instill in them the confidence that you deliver. A resume does not serve well to communicate these important factors. Why? It is typically formatted in a chronology of work history, with accomplishments under each job. This makes it difficult for the client to look across your work for depth of experience in the competencies/offerings that are important to them –they have to dig and infer too much.

The easier you make it for the client to get the information that is important and meaningful to them, the more likely they engage you. A multi-page resume loses a client in their frustration of trying to understand your offerings, whereas your experiences categorized by type of work brings order to your experiences that are meaningful.   

The example below gives you an idea of one way to present your experiences, with “Organizational Change / Transition” as the type of work and the relevant experiences underneath it. A client is going to scan three or four pages of this format and quickly see the breadth of your experiences and, more importantly, focus on the ones they are interested.

Additional credentials can be added for categories like Education and Training, Professional Associations and Memberships, an Industry credential that describes the extent of your experience in each industry, and an Overview credential that sets forth clearly your offerings, capabilities, depth of your bench, and other information.

Find A Management Consultant

The bottom line is that this is the information that a client uses to judge your abilities – it is worth your time to carefully think through and write your credentials in a way that is meaningful to the client.

Key Takeaways to Optimizing Business Development:

  • Clients have to dig and infer too much from a chronological resume
  • The easier you make it for the client to get the information that is important and meaningful to them, the more likely they engage you
  • It is worth your time to carefully think through and write your credentials in a way that is meaningful to the client

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

If you are a management consultant using a chronological resume, consider changing. While most of our business development is direct interpersonal communication, consultants are remiss not to have carefully thought through and documented their experiences, achievements, education, and training in a way that is client-friendly –what we at MyNextConsultant call credentials.  

The goal of your credentials is to make it easy for the client to clearly see what you offer, the experience that proves you have the insight and knowledge they need, and to instill in them the confidence that you deliver. A resume does not serve well to communicate these important factors. Why? It is typically formatted in a chronology of work history, with accomplishments under each job. This makes it difficult for the client to look across your work for depth of experience in the competencies/offerings that are important to them –they have to dig and infer too much.

The easier you make it for the client to get the information that is important and meaningful to them, the more likely they engage you. A multi-page resume loses a client in their frustration of trying to understand your offerings, whereas your experiences categorized by type of work brings order to your experiences that are meaningful.   

The example below gives you an idea of one way to present your experiences, with “Organizational Change / Transition” as the type of work and the relevant experiences underneath it. A client is going to scan three or four pages of this format and quickly see the breadth of your experiences and, more importantly, focus on the ones they are interested.

Additional credentials can be added for categories like Education and Training, Professional Associations and Memberships, an Industry credential that describes the extent of your experience in each industry, and an Overview credential that sets forth clearly your offerings, capabilities, depth of your bench, and other information.

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The bottom line is that this is the information that a client uses to judge your abilities – it is worth your time to carefully think through and write your credentials in a way that is meaningful to the client.

Key Takeaways to Optimizing Business Development:

  • Clients have to dig and infer too much from a chronological resume
  • The easier you make it for the client to get the information that is important and meaningful to them, the more likely they engage you
  • It is worth your time to carefully think through and write your credentials in a way that is meaningful to the client

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

If you are a management consultant using a chronological resume, consider changing. While most of our business development is direct interpersonal communication, consultants are remiss not to have carefully thought through and documented their experiences, achievements, education, and training in a way that is client-friendly –what we at MyNextConsultant call credentials.  

The goal of your credentials is to make it easy for the client to clearly see what you offer, the experience that proves you have the insight and knowledge they need, and to instill in them the confidence that you deliver. A resume does not serve well to communicate these important factors. Why? It is typically formatted in a chronology of work history, with accomplishments under each job. This makes it difficult for the client to look across your work for depth of experience in the competencies/offerings that are important to them –they have to dig and infer too much.

The easier you make it for the client to get the information that is important and meaningful to them, the more likely they engage you. A multi-page resume loses a client in their frustration of trying to understand your offerings, whereas your experiences categorized by type of work brings order to your experiences that are meaningful.   

The example below gives you an idea of one way to present your experiences, with “Organizational Change / Transition” as the type of work and the relevant experiences underneath it. A client is going to scan three or four pages of this format and quickly see the breadth of your experiences and, more importantly, focus on the ones they are interested.

Additional credentials can be added for categories like Education and Training, Professional Associations and Memberships, an Industry credential that describes the extent of your experience in each industry, and an Overview credential that sets forth clearly your offerings, capabilities, depth of your bench, and other information.

Find A Management Consultant

The bottom line is that this is the information that a client uses to judge your abilities – it is worth your time to carefully think through and write your credentials in a way that is meaningful to the client.

Key Takeaways to Optimizing Business Development:

  • Clients have to dig and infer too much from a chronological resume
  • The easier you make it for the client to get the information that is important and meaningful to them, the more likely they engage you
  • It is worth your time to carefully think through and write your credentials in a way that is meaningful to the client

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

The Changing Consulting Market

You have to wonder why the consulting industry has been the same for over thirty years. The traditional models (large and mid-tier consultancies and staffing firms) were built in the days when it was necessary to have infrastructure and large staffs for the selling/buying process, to manage and disseminate paper resumes, and to deploy and manage teams. Today, technology offers an alternative to those expensive and inefficient models with the efficiencies of virtual structures. Where in the past we relied on face-to-face networks and brick-and-mortar infra-structure for information and to conduct business, today, anyone with a laptop can access nearly anything and anyone from the comforts of their kitchen table.

Like so many other markets, technology is doing for the consulting market what could not be done before: Connect the local supplier who has an offering that is specialized, of value, or unique, to the larger market for the benefit of both.  

Fifteen years into the new millennium, the consulting industry is finally catching up. Just as new technology gave us improved means for data storage and put to rest the floppy disk of the 1980’s, the independent segment (solo and small-practice consultancies), coupled with technology, will change the consulting industry. This change will make available to clients more and better choices, eliminate excessive overhead, and, thereby, force the industry to increase the value of consulting services for the client.

Find A Management Consultant

Simple resume listing services are not cutting it. Clients need a consultant’s experience and capabilities presented differently from the typical chronological resume. The more effective web-based services are delivering searchable networks that permit clients to selectively connect directly to consultants. Clients are able to search by consulting discipline, industry, and other variables to narrow down to a short list of qualified consultants. These web-based services meet the customer where their needs are: fast, easy, cost-effective.

Key Takeaways to The Changing Consulting Market:

  • Utilization of web-based technology is long overdue in the management consulting industry.
  • Web-based services are client-centric, allowing them to find management consultants quickly, easily, and effectively.

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

You have to wonder why the consulting industry has been the same for over thirty years. The traditional models (large and mid-tier consultancies and staffing firms) were built in the days when it was necessary to have infrastructure and large staffs for the selling/buying process, to manage and disseminate paper resumes, and to deploy and manage teams. Today, technology offers an alternative to those expensive and inefficient models with the efficiencies of virtual structures. Where in the past we relied on face-to-face networks and brick-and-mortar infra-structure for information and to conduct business, today, anyone with a laptop can access nearly anything and anyone from the comforts of their kitchen table.

Like so many other markets, technology is doing for the consulting market what could not be done before: Connect the local supplier who has an offering that is specialized, of value, or unique, to the larger market for the benefit of both.  

Fifteen years into the new millennium, the consulting industry is finally catching up. Just as new technology gave us improved means for data storage and put to rest the floppy disk of the 1980’s, the independent segment (solo and small-practice consultancies), coupled with technology, will change the consulting industry. This change will make available to clients more and better choices, eliminate excessive overhead, and, thereby, force the industry to increase the value of consulting services for the client.

Find A Management Consultant

Simple resume listing services are not cutting it. Clients need a consultant’s experience and capabilities presented differently from the typical chronological resume. The more effective web-based services are delivering searchable networks that permit clients to selectively connect directly to consultants. Clients are able to search by consulting discipline, industry, and other variables to narrow down to a short list of qualified consultants. These web-based services meet the customer where their needs are: fast, easy, cost-effective.

Key Takeaways to The Changing Consulting Market:

  • Utilization of web-based technology is long overdue in the management consulting industry.
  • Web-based services are client-centric, allowing them to find management consultants quickly, easily, and effectively.

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

You have to wonder why the consulting industry has been the same for over thirty years. The traditional models (large and mid-tier consultancies and staffing firms) were built in the days when it was necessary to have infrastructure and large staffs for the selling/buying process, to manage and disseminate paper resumes, and to deploy and manage teams. Today, technology offers an alternative to those expensive and inefficient models with the efficiencies of virtual structures. Where in the past we relied on face-to-face networks and brick-and-mortar infra-structure for information and to conduct business, today, anyone with a laptop can access nearly anything and anyone from the comforts of their kitchen table.

Like so many other markets, technology is doing for the consulting market what could not be done before: Connect the local supplier who has an offering that is specialized, of value, or unique, to the larger market for the benefit of both.  

Fifteen years into the new millennium, the consulting industry is finally catching up. Just as new technology gave us improved means for data storage and put to rest the floppy disk of the 1980’s, the independent segment (solo and small-practice consultancies), coupled with technology, will change the consulting industry. This change will make available to clients more and better choices, eliminate excessive overhead, and, thereby, force the industry to increase the value of consulting services for the client.

Find A Management Consultant

Simple resume listing services are not cutting it. Clients need a consultant’s experience and capabilities presented differently from the typical chronological resume. The more effective web-based services are delivering searchable networks that permit clients to selectively connect directly to consultants. Clients are able to search by consulting discipline, industry, and other variables to narrow down to a short list of qualified consultants. These web-based services meet the customer where their needs are: fast, easy, cost-effective.

Key Takeaways to The Changing Consulting Market:

  • Utilization of web-based technology is long overdue in the management consulting industry.
  • Web-based services are client-centric, allowing them to find management consultants quickly, easily, and effectively.

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Stand by, You are being Connected

Connecting is necessary for the solo practitioner and small practice partnership management consultants. We’re talking about connecting on two levels –with prospective clients and with other management consultants.

Connect with Clients Using Efficient Channels
Connecting with prospective clients to obtain work (business development) is the challenge of most management consultants. There are many channels the solo practitioner and the small practice partnership tap to connect with clients for the sake of obtaining work: traditional marketing and promotion; personal networks; social media; conventions, meetings and networking events; staffing firms; consulting firms; and, a more recent option, web-based directory services designed specifically for the management consulting market. Not all are equally efficient in connecting you to clients.  

A number of factors that are to be kept in mind as you select and work each channel:  cost; time; certainty of obtaining work; breadth and depth of the market reached through the channel; barriers and impediments that keep you and the client from connecting directly; and, finally, when you do connect, the readiness of the client to engage.

For example, consider the above factors for an on-line consultant directory service. The client who connects with you through this channel is probably very likely to buy –after all, they are actively looking for you or someone like you. Your investment of time and money for this channel (of setting up your profile) is almost nothing. Being web-based, they reach across the country or even the world, placing you in the national and international markets. Compare this channel to the others. Others may nearly guarantee work, but the price paid will be a grossly reduced rate or impediment of your ability to establish direct relationships with clients.

Utilize as many of the channels as practical for connecting to potential clients. Start with the ones that require the least amount of time and money (they’re no-brainers), then start to work toward the ones that demand more of your time and money.  

The Unleashed Potential of Consultants Connecting with Other Consultants
Management consultants with whom you connect enhance your bench with additional skills or with additional capacity. They also share business with you when they need your skills. These virtual alliances place independent management consultants in a part of the market that would otherwise be impossible, enabling them to take on larger, more complex projects. The scalability, flexibility, and zero overhead creates a value proposition that is destined to change the industry. Connecting consultant to consultant creates yet a new segment in the market.  

Find A Management Consultant

Connecting with others is central to the success of today’s independent management consultant, whether it is with potential clients or with other consultants.  

Key Takeaways to Optimizing Business Development

  • Independent management consultants cannot live in a bubble –connecting with clients and other consultants is their lifeblood
  • Not all channels are equally efficient, therefore multiple factors should be considered when utilizing them  
  • Connecting with others is central to the success of today’s independent management consultant, whether it is with potential clients or with other consultants

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Connecting is necessary for the solo practitioner and small practice partnership management consultants. We’re talking about connecting on two levels –with prospective clients and with other management consultants.

Connect with Clients Using Efficient Channels
Connecting with prospective clients to obtain work (business development) is the challenge of most management consultants. There are many channels the solo practitioner and the small practice partnership tap to connect with clients for the sake of obtaining work: traditional marketing and promotion; personal networks; social media; conventions, meetings and networking events; staffing firms; consulting firms; and, a more recent option, web-based directory services designed specifically for the management consulting market. Not all are equally efficient in connecting you to clients.  

A number of factors that are to be kept in mind as you select and work each channel:  cost; time; certainty of obtaining work; breadth and depth of the market reached through the channel; barriers and impediments that keep you and the client from connecting directly; and, finally, when you do connect, the readiness of the client to engage.

For example, consider the above factors for an on-line consultant directory service. The client who connects with you through this channel is probably very likely to buy –after all, they are actively looking for you or someone like you. Your investment of time and money for this channel (of setting up your profile) is almost nothing. Being web-based, they reach across the country or even the world, placing you in the national and international markets. Compare this channel to the others. Others may nearly guarantee work, but the price paid will be a grossly reduced rate or impediment of your ability to establish direct relationships with clients.

Utilize as many of the channels as practical for connecting to potential clients. Start with the ones that require the least amount of time and money (they’re no-brainers), then start to work toward the ones that demand more of your time and money.  

The Unleashed Potential of Consultants Connecting with Other Consultants
Management consultants with whom you connect enhance your bench with additional skills or with additional capacity. They also share business with you when they need your skills. These virtual alliances place independent management consultants in a part of the market that would otherwise be impossible, enabling them to take on larger, more complex projects. The scalability, flexibility, and zero overhead creates a value proposition that is destined to change the industry. Connecting consultant to consultant creates yet a new segment in the market.  

Find A Management Consultant

Connecting with others is central to the success of today’s independent management consultant, whether it is with potential clients or with other consultants.  

Key Takeaways to Optimizing Business Development

  • Independent management consultants cannot live in a bubble –connecting with clients and other consultants is their lifeblood
  • Not all channels are equally efficient, therefore multiple factors should be considered when utilizing them  
  • Connecting with others is central to the success of today’s independent management consultant, whether it is with potential clients or with other consultants

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Connecting is necessary for the solo practitioner and small practice partnership management consultants. We’re talking about connecting on two levels –with prospective clients and with other management consultants.

Connect with Clients Using Efficient Channels
Connecting with prospective clients to obtain work (business development) is the challenge of most management consultants. There are many channels the solo practitioner and the small practice partnership tap to connect with clients for the sake of obtaining work: traditional marketing and promotion; personal networks; social media; conventions, meetings and networking events; staffing firms; consulting firms; and, a more recent option, web-based directory services designed specifically for the management consulting market. Not all are equally efficient in connecting you to clients.  

A number of factors that are to be kept in mind as you select and work each channel:  cost; time; certainty of obtaining work; breadth and depth of the market reached through the channel; barriers and impediments that keep you and the client from connecting directly; and, finally, when you do connect, the readiness of the client to engage.

For example, consider the above factors for an on-line consultant directory service. The client who connects with you through this channel is probably very likely to buy –after all, they are actively looking for you or someone like you. Your investment of time and money for this channel (of setting up your profile) is almost nothing. Being web-based, they reach across the country or even the world, placing you in the national and international markets. Compare this channel to the others. Others may nearly guarantee work, but the price paid will be a grossly reduced rate or impediment of your ability to establish direct relationships with clients.

Utilize as many of the channels as practical for connecting to potential clients. Start with the ones that require the least amount of time and money (they’re no-brainers), then start to work toward the ones that demand more of your time and money.  

The Unleashed Potential of Consultants Connecting with Other Consultants
Management consultants with whom you connect enhance your bench with additional skills or with additional capacity. They also share business with you when they need your skills. These virtual alliances place independent management consultants in a part of the market that would otherwise be impossible, enabling them to take on larger, more complex projects. The scalability, flexibility, and zero overhead creates a value proposition that is destined to change the industry. Connecting consultant to consultant creates yet a new segment in the market.  

Find A Management Consultant

Connecting with others is central to the success of today’s independent management consultant, whether it is with potential clients or with other consultants.  

Key Takeaways to Optimizing Business Development

  • Independent management consultants cannot live in a bubble –connecting with clients and other consultants is their lifeblood
  • Not all channels are equally efficient, therefore multiple factors should be considered when utilizing them  
  • Connecting with others is central to the success of today’s independent management consultant, whether it is with potential clients or with other consultants

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Optimizing Business Development

Optimizing business development means optimizing your practice. You have to mix your own business development cocktail –a combination of marketing and prospecting activities and practices that play on your strengths and resources. In other words, you need to have a business development plan. Your business development plan is tailored to your practice and will not necessarily work for someone else. And neither will someone else’s plan or approach necessarily work for you. So, do you have such a plan?

Simple is better
Your plan doesn’t have to be sophisticated. If it is too complicated, then you probably won’t use it. Regardless, 90% of business development is execution. The difficulty in execution is knowing what to do and then making yourself do what you find difficult. Many of us find difficult most of the required activities that fall in the category of business development –cold calls; follow-up emails; consistently reaching out to your networks and existing clients for referrals (never not do it); creating case studies and distributing to potentials; networking events; gathering testimonials; collaborating with peers; and so many more.

Taking Care of Business  
Create your plan by brainstorming all the possible ways to develop business. Rank them on two scales: in order of effectiveness, then in order of difficulty. For you who are data geeks, plot them in quadrants.   In a diagram with five concentric circles, plot the most effective ones close to the center and the least effective ones further out. At the center, write TCB (Taking Care of Business). Highlight those you find most difficult. Print and post it in your office and keep a copy on your PDA or laptop. The visual will help to remind you of what your continual target is –lining up your next business opportunity. Next, create an execution calendar. Assign tasks and activities required to support the business development ways you just brainstormed to specific dates. This will compel you to act on them. If you don’t have enough self-discipline to follow through, then you probably shouldn’t be a management consultant.

Find A Management Consultant

Execution  
For those of you who do have enough self-discipline, relentless perseverance is required to execute –execution that will produce.   

Key Takeaways to Optimizing Business Development

  • You have to mix your own business development cocktail –a combination of marketing and prospecting activities and practices that play on your strengths and resources
  • 90% of business development is execution
  • A plan that includes an execution calendar, along with relentless perseverance, is required for productive business development

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Optimizing business development means optimizing your practice. You have to mix your own business development cocktail –a combination of marketing and prospecting activities and practices that play on your strengths and resources. In other words, you need to have a business development plan. Your business development plan is tailored to your practice and will not necessarily work for someone else. And neither will someone else’s plan or approach necessarily work for you. So, do you have such a plan?

Simple is better
Your plan doesn’t have to be sophisticated. If it is too complicated, then you probably won’t use it. Regardless, 90% of business development is execution. The difficulty in execution is knowing what to do and then making yourself do what you find difficult. Many of us find difficult most of the required activities that fall in the category of business development –cold calls; follow-up emails; consistently reaching out to your networks and existing clients for referrals (never not do it); creating case studies and distributing to potentials; networking events; gathering testimonials; collaborating with peers; and so many more.

Taking Care of Business  
Create your plan by brainstorming all the possible ways to develop business. Rank them on two scales: in order of effectiveness, then in order of difficulty. For you who are data geeks, plot them in quadrants.   In a diagram with five concentric circles, plot the most effective ones close to the center and the least effective ones further out. At the center, write TCB (Taking Care of Business). Highlight those you find most difficult. Print and post it in your office and keep a copy on your PDA or laptop. The visual will help to remind you of what your continual target is –lining up your next business opportunity. Next, create an execution calendar. Assign tasks and activities required to support the business development ways you just brainstormed to specific dates. This will compel you to act on them. If you don’t have enough self-discipline to follow through, then you probably shouldn’t be a management consultant.

Find A Management Consultant

Execution  
For those of you who do have enough self-discipline, relentless perseverance is required to execute –execution that will produce.   

Key Takeaways to Optimizing Business Development

  • You have to mix your own business development cocktail –a combination of marketing and prospecting activities and practices that play on your strengths and resources
  • 90% of business development is execution
  • A plan that includes an execution calendar, along with relentless perseverance, is required for productive business development

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Optimizing business development means optimizing your practice. You have to mix your own business development cocktail –a combination of marketing and prospecting activities and practices that play on your strengths and resources. In other words, you need to have a business development plan. Your business development plan is tailored to your practice and will not necessarily work for someone else. And neither will someone else’s plan or approach necessarily work for you. So, do you have such a plan?

Simple is better
Your plan doesn’t have to be sophisticated. If it is too complicated, then you probably won’t use it. Regardless, 90% of business development is execution. The difficulty in execution is knowing what to do and then making yourself do what you find difficult. Many of us find difficult most of the required activities that fall in the category of business development –cold calls; follow-up emails; consistently reaching out to your networks and existing clients for referrals (never not do it); creating case studies and distributing to potentials; networking events; gathering testimonials; collaborating with peers; and so many more.

Taking Care of Business  
Create your plan by brainstorming all the possible ways to develop business. Rank them on two scales: in order of effectiveness, then in order of difficulty. For you who are data geeks, plot them in quadrants.   In a diagram with five concentric circles, plot the most effective ones close to the center and the least effective ones further out. At the center, write TCB (Taking Care of Business). Highlight those you find most difficult. Print and post it in your office and keep a copy on your PDA or laptop. The visual will help to remind you of what your continual target is –lining up your next business opportunity. Next, create an execution calendar. Assign tasks and activities required to support the business development ways you just brainstormed to specific dates. This will compel you to act on them. If you don’t have enough self-discipline to follow through, then you probably shouldn’t be a management consultant.

Find A Management Consultant

Execution  
For those of you who do have enough self-discipline, relentless perseverance is required to execute –execution that will produce.   

Key Takeaways to Optimizing Business Development

  • You have to mix your own business development cocktail –a combination of marketing and prospecting activities and practices that play on your strengths and resources
  • 90% of business development is execution
  • A plan that includes an execution calendar, along with relentless perseverance, is required for productive business development

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Factors that Influence Your Business Development

There are two major factors that influence your business development results. Your reach and your Win/Loss ratio. The larger your reach (the prospects you can reach), the more likely you increase the number of contracts for work. Reach is pretty simple in that it is a numbers game. Most management consultants don’t have the means to get beyond their personal networks to obtain a broad reach. Purchasing customer lists to do cold calls, email campaigns and other marketing techniques are out of budget for most small practices. Additionally, these tactics require lots of time and their results are questionable.

The Win/Loss ratio represents the number of contracts won vs. the number of prospects reached. Win/Loss is a bit more complicated and is influenced by, amongst others, the consultant’s ability to pre-qualify customers, how clearly the consultant’s value proposition is communicated, and how well they are differentiated from competitors. Another factor that affects Win/Loss is relationship. Too often, consultants default to this mode –leveraging their goodwill with customers they already know. It does increase their ratio, but it does nothing to expand and diversify their customer base –something that eventually catches up to them.

How to Improve the Reach factor
Many of us have skills that transcend verticals, but we get stuck in one or two that tie us down. How do we jump into other industries? Web-based networks are forming like never before. Independents and small practices are realizing the benefits of joining web-based networks that place their services in front of clients seeking their expertise. It may appear to be a passive approach, but it is competitive, and it is becoming more so. These networks allow the independent and small practice to broaden their reach geographically and across industries.

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Improving the Win/Loss Ratio
This is where management consultants need to step up. Many are not marketers, but they need to learn quickly how to present themselves persuasively through these available communities and networks. Copy and pasting one’s resume into a profile page is not going to cut it. Quite frankly, if that is all the effort a consultant is willing to put into their first impression with a client, then they shouldn’t be surprised at a zero Win/Loss Ratio!  

A few of the web-based communities forgo the middle-man and place the consultant’s profile directly in front of the client –a client who is actively seeking consulting resources! How much more can you qualify a customer? Furthermore, where else do consultants have the opportunity to present their value proposition and differentiate themselves directly to the client?  

Key Takeaways to Two Factors that influence your BD results?

  • Expanding your reach and refining the variables that affect your Win/Loss ratio are critical success factors in your business development efforts
  • Utilizing web-based channels is an efficient means of enhancing a business development strategy
  • Regardless of channel, once the consultant has audience with a potential customer they must present themselves persuasively

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

There are two major factors that influence your business development results. Your reach and your Win/Loss ratio. The larger your reach (the prospects you can reach), the more likely you increase the number of contracts for work. Reach is pretty simple in that it is a numbers game. Most management consultants don’t have the means to get beyond their personal networks to obtain a broad reach. Purchasing customer lists to do cold calls, email campaigns and other marketing techniques are out of budget for most small practices. Additionally, these tactics require lots of time and their results are questionable.

The Win/Loss ratio represents the number of contracts won vs. the number of prospects reached. Win/Loss is a bit more complicated and is influenced by, amongst others, the consultant’s ability to pre-qualify customers, how clearly the consultant’s value proposition is communicated, and how well they are differentiated from competitors. Another factor that affects Win/Loss is relationship. Too often, consultants default to this mode –leveraging their goodwill with customers they already know. It does increase their ratio, but it does nothing to expand and diversify their customer base –something that eventually catches up to them.

How to Improve the Reach factor
Many of us have skills that transcend verticals, but we get stuck in one or two that tie us down. How do we jump into other industries? Web-based networks are forming like never before. Independents and small practices are realizing the benefits of joining web-based networks that place their services in front of clients seeking their expertise. It may appear to be a passive approach, but it is competitive, and it is becoming more so. These networks allow the independent and small practice to broaden their reach geographically and across industries.

Find A Management Consultant

Improving the Win/Loss Ratio
This is where management consultants need to step up. Many are not marketers, but they need to learn quickly how to present themselves persuasively through these available communities and networks. Copy and pasting one’s resume into a profile page is not going to cut it. Quite frankly, if that is all the effort a consultant is willing to put into their first impression with a client, then they shouldn’t be surprised at a zero Win/Loss Ratio!  

A few of the web-based communities forgo the middle-man and place the consultant’s profile directly in front of the client –a client who is actively seeking consulting resources! How much more can you qualify a customer? Furthermore, where else do consultants have the opportunity to present their value proposition and differentiate themselves directly to the client?  

Key Takeaways to Two Factors that influence your BD results?

  • Expanding your reach and refining the variables that affect your Win/Loss ratio are critical success factors in your business development efforts
  • Utilizing web-based channels is an efficient means of enhancing a business development strategy
  • Regardless of channel, once the consultant has audience with a potential customer they must present themselves persuasively

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

There are two major factors that influence your business development results. Your reach and your Win/Loss ratio. The larger your reach (the prospects you can reach), the more likely you increase the number of contracts for work. Reach is pretty simple in that it is a numbers game. Most management consultants don’t have the means to get beyond their personal networks to obtain a broad reach. Purchasing customer lists to do cold calls, email campaigns and other marketing techniques are out of budget for most small practices. Additionally, these tactics require lots of time and their results are questionable.

The Win/Loss ratio represents the number of contracts won vs. the number of prospects reached. Win/Loss is a bit more complicated and is influenced by, amongst others, the consultant’s ability to pre-qualify customers, how clearly the consultant’s value proposition is communicated, and how well they are differentiated from competitors. Another factor that affects Win/Loss is relationship. Too often, consultants default to this mode –leveraging their goodwill with customers they already know. It does increase their ratio, but it does nothing to expand and diversify their customer base –something that eventually catches up to them.

How to Improve the Reach factor
Many of us have skills that transcend verticals, but we get stuck in one or two that tie us down. How do we jump into other industries? Web-based networks are forming like never before. Independents and small practices are realizing the benefits of joining web-based networks that place their services in front of clients seeking their expertise. It may appear to be a passive approach, but it is competitive, and it is becoming more so. These networks allow the independent and small practice to broaden their reach geographically and across industries.

Find A Management Consultant

Improving the Win/Loss Ratio
This is where management consultants need to step up. Many are not marketers, but they need to learn quickly how to present themselves persuasively through these available communities and networks. Copy and pasting one’s resume into a profile page is not going to cut it. Quite frankly, if that is all the effort a consultant is willing to put into their first impression with a client, then they shouldn’t be surprised at a zero Win/Loss Ratio!  

A few of the web-based communities forgo the middle-man and place the consultant’s profile directly in front of the client –a client who is actively seeking consulting resources! How much more can you qualify a customer? Furthermore, where else do consultants have the opportunity to present their value proposition and differentiate themselves directly to the client?  

Key Takeaways to Two Factors that influence your BD results?

  • Expanding your reach and refining the variables that affect your Win/Loss ratio are critical success factors in your business development efforts
  • Utilizing web-based channels is an efficient means of enhancing a business development strategy
  • Regardless of channel, once the consultant has audience with a potential customer they must present themselves persuasively

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

The Consultant Business Development Conundrum

co·nun·drum (kə-nŭn′drəm)  -A paradoxical, insoluble, or difficult problem; a dilemma.

Conundrum. There is no better word to describe the challenge of business development in a management consulting practice. It presents a dilemma in that business development activities most often pull you away from billable work. For many of us, it is a difficult problem in that we are not naturally inclined to the necessary activities for developing leads. And it is paradoxical because the more billable work we have, the less time we give to business development.  

No “Silver Bullet”
Some of the challenges include dedicating time away from billable work; reaching beyond your current network; diversifying into other industries; developing a library of referrals and testimonials; and establishing your credibility with prospective clients. Although there is no “silver bullet” that addresses these challenges and provides all the business you need, there are some new channels that do address all of these challenges and augment your other business development efforts.  I’m talking about the web-based communities and networks that are dedicated to clients finding and connecting directly with the management consultants they need.

Find A Management Consultant

Web-based Business Development
Many independents and small practices are finding that web-based networks are useful in reaching beyond their limited professional circles, allowing them to break into industries and clients they otherwise find difficult. The networks are different than the common social media models in that they contain features that serve the unique management consulting market. These new entities are designed for the consultant to present directly to clients. They offer formats specifically for presentation of the consultant’s expertise within discipline and industry, experiences and credentials that support the consultant’s claims of expertise, and utilities to capture client recommendations and performance ratings. All of these features work for the consultant in the presentation of their practice directly to clients, and they work for clients in finding and connecting with quality consultants who have the expertise they need. Let’s not fail to recognize that the investment of time for a consultant to gain presence in these networks is miniscule in terms of business development activities.   

As these networks grow, clients will find them more valuable, and as more clients find qualified management consultants through these channels, they are expected to play a larger role for sourcing in the management consulting market.   

Key Takeaways to The Management Consultant Business Development Conundrum:

  • Business Development is difficult and time consuming!
  • There is no silver bullet that addresses business development challenges and provides all the business you need
  • Web-based communities and networks that serve the unique management consulting market are great tools to your business development efforts that address many of your business development challenges

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

Conundrum. There is no better word to describe the challenge of business development in a management consulting practice. It presents a dilemma in that business development activities most often pull you away from billable work. For many of us, it is a difficult problem in that we are not naturally inclined to the necessary activities for developing leads. And it is paradoxical because the more billable work we have, the less time we give to business development.  

No “Silver Bullet”
Some of the challenges include dedicating time away from billable work; reaching beyond your current network; diversifying into other industries; developing a library of referrals and testimonials; and establishing your credibility with prospective clients. Although there is no “silver bullet” that addresses these challenges and provides all the business you need, there are some new channels that do address all of these challenges and augment your other business development efforts.  I’m talking about the web-based communities and networks that are dedicated to clients finding and connecting directly with the management consultants they need.

Find A Management Consultant

Web-based Business Development
Many independents and small practices are finding that web-based networks are useful in reaching beyond their limited professional circles, allowing them to break into industries and clients they otherwise find difficult. The networks are different than the common social media models in that they contain features that serve the unique management consulting market. These new entities are designed for the consultant to present directly to clients. They offer formats specifically for presentation of the consultant’s expertise within discipline and industry, experiences and credentials that support the consultant’s claims of expertise, and utilities to capture client recommendations and performance ratings. All of these features work for the consultant in the presentation of their practice directly to clients, and they work for clients in finding and connecting with quality consultants who have the expertise they need. Let’s not fail to recognize that the investment of time for a consultant to gain presence in these networks is miniscule in terms of business development activities.   

As these networks grow, clients will find them more valuable, and as more clients find qualified management consultants through these channels, they are expected to play a larger role for sourcing in the management consulting market.   

Key Takeaways to The Management Consultant Business Development Conundrum:

  • Business Development is difficult and time consuming!
  • There is no silver bullet that addresses business development challenges and provides all the business you need
  • Web-based communities and networks that serve the unique management consulting market are great tools to your business development efforts that address many of your business development challenges

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

Conundrum. There is no better word to describe the challenge of business development in a management consulting practice. It presents a dilemma in that business development activities most often pull you away from billable work. For many of us, it is a difficult problem in that we are not naturally inclined to the necessary activities for developing leads. And it is paradoxical because the more billable work we have, the less time we give to business development.  

No “Silver Bullet”
Some of the challenges include dedicating time away from billable work; reaching beyond your current network; diversifying into other industries; developing a library of referrals and testimonials; and establishing your credibility with prospective clients. Although there is no “silver bullet” that addresses these challenges and provides all the business you need, there are some new channels that do address all of these challenges and augment your other business development efforts.  I’m talking about the web-based communities and networks that are dedicated to clients finding and connecting directly with the management consultants they need.

Find A Management Consultant

Web-based Business Development
Many independents and small practices are finding that web-based networks are useful in reaching beyond their limited professional circles, allowing them to break into industries and clients they otherwise find difficult. The networks are different than the common social media models in that they contain features that serve the unique management consulting market. These new entities are designed for the consultant to present directly to clients. They offer formats specifically for presentation of the consultant’s expertise within discipline and industry, experiences and credentials that support the consultant’s claims of expertise, and utilities to capture client recommendations and performance ratings. All of these features work for the consultant in the presentation of their practice directly to clients, and they work for clients in finding and connecting with quality consultants who have the expertise they need. Let’s not fail to recognize that the investment of time for a consultant to gain presence in these networks is miniscule in terms of business development activities.   

As these networks grow, clients will find them more valuable, and as more clients find qualified management consultants through these channels, they are expected to play a larger role for sourcing in the management consulting market.   

Key Takeaways to The Management Consultant Business Development Conundrum:

  • Business Development is difficult and time consuming!
  • There is no silver bullet that addresses business development challenges and provides all the business you need
  • Web-based communities and networks that serve the unique management consulting market are great tools to your business development efforts that address many of your business development challenges

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

The Client Challenge: Consultant Credentials

There are many opinions as to what makes a consultant a consultant. Regardless of how you develop your definition or what your definition of a consultant is, when it comes to finding one, you need enough information about your candidate to determine if they fit your requirements. Getting adequate information to evaluate candidates has been a challenge in the management consulting market, but that is changing.

Considering a selection of consultants from a pool or network is like considering beauty –it comes down to the eyes of the beholder. In other words, there is more subjectivity in defining who is a quality consultant than most would admit. Many hold adamantly to their views of who is or who is not a credentialed consultant. Some say pedigree (e.g., big four experience) is most important. Others look at the consultant’s expertise through their published papers, academic credentials, authored books, or just a dark suit. These may be convenient, but they are presumptive in evaluating expertise.

What should really be considered are credentials that represent the level of expertise the consultant possesses: A demonstration or history of success, experience, problem-solving skills, objectivity, a bank of best practices, a deep library of knowledge, commitment to their field of expertise, and then wisdom to bring it all together. There are many roads a consultant can take that lead to developing credentials like these. The challenge for the seeking client is obtaining these kinds of credentials for pre-qualified management consultant candidates to see if they meet the client’s criteria.

There have been two common sources for attempting to gain an understanding of a consultant’s level of expertise and credentials. Unfortunately, these same two sources are also impediments in obtaining useful credentials quickly and easily.

First is the resume. The chronological resume, as common as it is, is one practice that is not best –especially as a source of information to evaluate a management consultant. Resumes are lacking in many ways as a source of information and insight about a consultants expertise and credentials. Resumes usually present the chronological history of a consultant’s employment and don’t provide enough evidence of their experiences and training. Most of the time the resume does not adequately convey the consultant’s expertise and credentials and is just a lesson in frustration for the client.

Second, are the staffing firms. These intermediaries filter and select for the client, reducing useful information to top-line descriptors that may or may not convey the consultant’s true expertise. They are making decisions whether the consultants they bypass or select are the right fit.  The client may or may not get a consultant they consider to be qualified.

Find A Management Consultant

Like many other industries, the world wide web is making a difference in the management consulting market by offering much improved alternatives to clients for sourcing the services they need. Through these web-based services, like MyNextConsultant.com, clients create consultant searches fitting their needs to locate matching qualified management consultants. Clients have visibility to the consultant’s claims for expertise by discipline, industry and function.  Credentials , references, and ratings are transparent. Clients are able to make their own educated choice. By having the right information available in a meaningful and efficient way, the client can quickly and easily assess consultants’ credentials to see if they meet their own criteria of a credentialed consultant.

Key Takeaways to The Client Challenge: Consultant Credentials

  • A “good” management consultant is in the eyes of the beholder. Each client has their own view of what makes a consultant a consultant
  • Regardless of the client’s view of who is a consultant, they need access to consultants’ credentials to make an accurate assessment for their needs
  • On-line sources that provide clients direct access to consultant expertise levels and credentials enable clients to quickly and easily find and engage the consultants that meet their criteria

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

There are many opinions as to what makes a consultant a consultant. Regardless of how you develop your definition or what your definition of a consultant is, when it comes to finding one, you need enough information about your candidate to determine if they fit your requirements. Getting adequate information to evaluate candidates has been a challenge in the management consulting market, but that is changing.

Considering a selection of consultants from a pool or network is like considering beauty –it comes down to the eyes of the beholder. In other words, there is more subjectivity in defining who is a quality consultant than most would admit. Many hold adamantly to their views of who is or who is not a credentialed consultant. Some say pedigree (e.g., big four experience) is most important. Others look at the consultant’s expertise through their published papers, academic credentials, authored books, or just a dark suit. These may be convenient, but they are presumptive in evaluating expertise.

What should really be considered are credentials that represent the level of expertise the consultant possesses: A demonstration or history of success, experience, problem-solving skills, objectivity, a bank of best practices, a deep library of knowledge, commitment to their field of expertise, and then wisdom to bring it all together. There are many roads a consultant can take that lead to developing credentials like these. The challenge for the seeking client is obtaining these kinds of credentials for pre-qualified management consultant candidates to see if they meet the client’s criteria.

There have been two common sources for attempting to gain an understanding of a consultant’s level of expertise and credentials. Unfortunately, these same two sources are also impediments in obtaining useful credentials quickly and easily.

First is the resume. The chronological resume, as common as it is, is one practice that is not best –especially as a source of information to evaluate a management consultant. Resumes are lacking in many ways as a source of information and insight about a consultants expertise and credentials. Resumes usually present the chronological history of a consultant’s employment and don’t provide enough evidence of their experiences and training. Most of the time the resume does not adequately convey the consultant’s expertise and credentials and is just a lesson in frustration for the client.

Second, are the staffing firms. These intermediaries filter and select for the client, reducing useful information to top-line descriptors that may or may not convey the consultant’s true expertise. They are making decisions whether the consultants they bypass or select are the right fit.  The client may or may not get a consultant they consider to be qualified.

Find A Management Consultant

Like many other industries, the world wide web is making a difference in the management consulting market by offering much improved alternatives to clients for sourcing the services they need. Through these web-based services, like MyNextConsultant.com, clients create consultant searches fitting their needs to locate matching qualified management consultants. Clients have visibility to the consultant’s claims for expertise by discipline, industry and function.  Credentials , references, and ratings are transparent. Clients are able to make their own educated choice. By having the right information available in a meaningful and efficient way, the client can quickly and easily assess consultants’ credentials to see if they meet their own criteria of a credentialed consultant.

Key Takeaways to The Client Challenge: Consultant Credentials

  • A “good” management consultant is in the eyes of the beholder. Each client has their own view of what makes a consultant a consultant
  • Regardless of the client’s view of who is a consultant, they need access to consultants’ credentials to make an accurate assessment for their needs
  • On-line sources that provide clients direct access to consultant expertise levels and credentials enable clients to quickly and easily find and engage the consultants that meet their criteria

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

There are many opinions as to what makes a consultant a consultant. Regardless of how you develop your definition or what your definition of a consultant is, when it comes to finding one, you need enough information about your candidate to determine if they fit your requirements. Getting adequate information to evaluate candidates has been a challenge in the management consulting market, but that is changing.

Considering a selection of consultants from a pool or network is like considering beauty –it comes down to the eyes of the beholder. In other words, there is more subjectivity in defining who is a quality consultant than most would admit. Many hold adamantly to their views of who is or who is not a credentialed consultant. Some say pedigree (e.g., big four experience) is most important. Others look at the consultant’s expertise through their published papers, academic credentials, authored books, or just a dark suit. These may be convenient, but they are presumptive in evaluating expertise.

What should really be considered are credentials that represent the level of expertise the consultant possesses: A demonstration or history of success, experience, problem-solving skills, objectivity, a bank of best practices, a deep library of knowledge, commitment to their field of expertise, and then wisdom to bring it all together. There are many roads a consultant can take that lead to developing credentials like these. The challenge for the seeking client is obtaining these kinds of credentials for pre-qualified management consultant candidates to see if they meet the client’s criteria.

There have been two common sources for attempting to gain an understanding of a consultant’s level of expertise and credentials. Unfortunately, these same two sources are also impediments in obtaining useful credentials quickly and easily.

First is the resume. The chronological resume, as common as it is, is one practice that is not best –especially as a source of information to evaluate a management consultant. Resumes are lacking in many ways as a source of information and insight about a consultants expertise and credentials. Resumes usually present the chronological history of a consultant’s employment and don’t provide enough evidence of their experiences and training. Most of the time the resume does not adequately convey the consultant’s expertise and credentials and is just a lesson in frustration for the client.

Second, are the staffing firms. These intermediaries filter and select for the client, reducing useful information to top-line descriptors that may or may not convey the consultant’s true expertise. They are making decisions whether the consultants they bypass or select are the right fit.  The client may or may not get a consultant they consider to be qualified.

Find A Management Consultant

Like many other industries, the world wide web is making a difference in the management consulting market by offering much improved alternatives to clients for sourcing the services they need. Through these web-based services, like MyNextConsultant.com, clients create consultant searches fitting their needs to locate matching qualified management consultants. Clients have visibility to the consultant’s claims for expertise by discipline, industry and function.  Credentials , references, and ratings are transparent. Clients are able to make their own educated choice. By having the right information available in a meaningful and efficient way, the client can quickly and easily assess consultants’ credentials to see if they meet their own criteria of a credentialed consultant.

Key Takeaways to The Client Challenge: Consultant Credentials

  • A “good” management consultant is in the eyes of the beholder. Each client has their own view of what makes a consultant a consultant
  • Regardless of the client’s view of who is a consultant, they need access to consultants’ credentials to make an accurate assessment for their needs
  • On-line sources that provide clients direct access to consultant expertise levels and credentials enable clients to quickly and easily find and engage the consultants that meet their criteria

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Is the Consultant You Found the Right One?

The project is completed, the report and implementation plan is on your desk, the consultants are gone, and you are in the throes of implementation and follow-through. How many of us have been there? –When you realize for the first time the true value and competency of the consultant you brought on. Too often, that’s the moment when a client first realizes if the consultant they brought on weeks or months ago was the right one. You have to ask, ‘How do you get to the point (after the screening, selection and cost) where the consultant hired isn’t the right one?’ This situation is often the result of the way in which clients screen and select management consultants.

Finding the right management consultant implies that there is some measure of right. Examples of criteria to find the right consultant could include: clear understanding of the client’s objectives for which they are being brought on and the work to be done; be objective and unbiased; employ a bank of knowledge and skills that are needed by the client and useful to the work at hand; have a background of experience that provides for wisdom and efficiencies; and possess innate abilities to bring it all together and effectively meet and exceed the client’s expectations. Of course, there are other criteria that each client knows is required. The client “owns” these criteria (requirements) and communicates them and screens for them better than anyone.

Too often, it is not the client who screens and selects the consultant. Instead, the person who does the screening and selecting, a third party, is removed from first-hand knowledge of the work to be done. They don’t have an adequate understanding of the work to identify who the best consultant is and there is no basis for intuition while screening consultants.

Like the rest of us, the management consulting market is susceptible to insanity –repeating the same activity and expecting different results. The 1980’s models used for sourcing management consultants (staffing firms and consultancies) have at least three detrimental effects on selecting a quality management consultant.
 
First, using a staffing firm or a consultancy immediately limits the pool of consultants to those the firm happens to have. Second, the first- and second-tier consultants are usually committed to other work, leaving third-tier consultants from which to choose. Remember that these are consultants in a pool that is already compromised by the firm’s business model: low pay –which has a propensity to deflect top-tier consultants. Third, these firms’ intermediary position perpetuates the “whisper down the lane” effect, where the criteria and requirements are compromised. A middle-man, as hard as they try, cannot screen and select as effectively as the client. This effect is difficult to overcome with the value they claim. After all, a compromised selection impacts the client for at least the duration of the work –and most likely beyond. In reality, staffing agencies sell their services on their ability to select quality consultants for the client, but their business model actually attracts lower-tier consultants. What the client has to ask is, “Is the time I supposedly save by using the middle-man worth risking the quality of consultant I ultimately get?”

Staffing firms sell, in part, on the claim of saving the client’s time. In the past, that may have been true for lack of alternatives, but today, with web-based services, consultants are available at the fingertips of clients who can themselves quickly, easily, and effectively connect directly to top-tier consultants.

Find A Management Consultant

Whether you get the right management consultant depends on the pool from which you are selecting as well as who screens and selects. Until recently, there were not many alternatives to the 35-year-old models. Today, web-based services provide a more efficient alternative by allowing clients to quickly and easily search by discipline, industry, and function to narrow down their selection. Screening and directly connecting to elite, credentialed management consultants allows clients to onboard the consultants they need quickly, easily and effectively. Giving clients direct access to searching and connecting removes interference and misunderstandings and, in the end, gets them the right management consultant.

Key Takeaways to Is the Management Consultant You Found the Right One

  • There is a historical pattern of dissatisfaction in the management consulting market (for clients and consultants) that has created the opportunity for a better way
  • Traditional intermediaries between a client’s screening and selection of a management consultant reduce the likelihood of onboarding a consultant that meets or exceeds the client’s requirements
  • Web-based networks are valuable resources for clients to quickly, easily, and effectively connect directly to management consultants that meet or exceed their requirements

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

The project is completed, the report and implementation plan is on your desk, the consultants are gone, and you are in the throes of implementation and follow-through. How many of us have been there? –When you realize for the first time the true value and competency of the consultant you brought on. Too often, that’s the moment when a client first realizes if the consultant they brought on weeks or months ago was the right one. You have to ask, ‘How do you get to the point (after the screening, selection and cost) where the consultant hired isn’t the right one?’ This situation is often the result of the way in which clients screen and select management consultants.

Finding the right management consultant implies that there is some measure of right. Examples of criteria to find the right consultant could include: clear understanding of the client’s objectives for which they are being brought on and the work to be done; be objective and unbiased; employ a bank of knowledge and skills that are needed by the client and useful to the work at hand; have a background of experience that provides for wisdom and efficiencies; and possess innate abilities to bring it all together and effectively meet and exceed the client’s expectations. Of course, there are other criteria that each client knows is required. The client “owns” these criteria (requirements) and communicates them and screens for them better than anyone.

Too often, it is not the client who screens and selects the consultant. Instead, the person who does the screening and selecting, a third party, is removed from first-hand knowledge of the work to be done. They don’t have an adequate understanding of the work to identify who the best consultant is and there is no basis for intuition while screening consultants.

Like the rest of us, the management consulting market is susceptible to insanity –repeating the same activity and expecting different results. The 1980’s models used for sourcing management consultants (staffing firms and consultancies) have at least three detrimental effects on selecting a quality management consultant.
 
First, using a staffing firm or a consultancy immediately limits the pool of consultants to those the firm happens to have. Second, the first- and second-tier consultants are usually committed to other work, leaving third-tier consultants from which to choose. Remember that these are consultants in a pool that is already compromised by the firm’s business model: low pay –which has a propensity to deflect top-tier consultants. Third, these firms’ intermediary position perpetuates the “whisper down the lane” effect, where the criteria and requirements are compromised. A middle-man, as hard as they try, cannot screen and select as effectively as the client. This effect is difficult to overcome with the value they claim. After all, a compromised selection impacts the client for at least the duration of the work –and most likely beyond. In reality, staffing agencies sell their services on their ability to select quality consultants for the client, but their business model actually attracts lower-tier consultants. What the client has to ask is, “Is the time I supposedly save by using the middle-man worth risking the quality of consultant I ultimately get?”

Staffing firms sell, in part, on the claim of saving the client’s time. In the past, that may have been true for lack of alternatives, but today, with web-based services, consultants are available at the fingertips of clients who can themselves quickly, easily, and effectively connect directly to top-tier consultants.

Find A Management Consultant

Whether you get the right management consultant depends on the pool from which you are selecting as well as who screens and selects. Until recently, there were not many alternatives to the 35-year-old models. Today, web-based services provide a more efficient alternative by allowing clients to quickly and easily search by discipline, industry, and function to narrow down their selection. Screening and directly connecting to elite, credentialed management consultants allows clients to onboard the consultants they need quickly, easily and effectively. Giving clients direct access to searching and connecting removes interference and misunderstandings and, in the end, gets them the right management consultant.

Key Takeaways to Is the Management Consultant You Found the Right One

  • There is a historical pattern of dissatisfaction in the management consulting market (for clients and consultants) that has created the opportunity for a better way
  • Traditional intermediaries between a client’s screening and selection of a management consultant reduce the likelihood of onboarding a consultant that meets or exceeds the client’s requirements
  • Web-based networks are valuable resources for clients to quickly, easily, and effectively connect directly to management consultants that meet or exceed their requirements

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

The project is completed, the report and implementation plan is on your desk, the consultants are gone, and you are in the throes of implementation and follow-through. How many of us have been there? –When you realize for the first time the true value and competency of the consultant you brought on. Too often, that’s the moment when a client first realizes if the consultant they brought on weeks or months ago was the right one. You have to ask, ‘How do you get to the point (after the screening, selection and cost) where the consultant hired isn’t the right one?’ This situation is often the result of the way in which clients screen and select management consultants.

Finding the right management consultant implies that there is some measure of right. Examples of criteria to find the right consultant could include: clear understanding of the client’s objectives for which they are being brought on and the work to be done; be objective and unbiased; employ a bank of knowledge and skills that are needed by the client and useful to the work at hand; have a background of experience that provides for wisdom and efficiencies; and possess innate abilities to bring it all together and effectively meet and exceed the client’s expectations. Of course, there are other criteria that each client knows is required. The client “owns” these criteria (requirements) and communicates them and screens for them better than anyone.

Too often, it is not the client who screens and selects the consultant. Instead, the person who does the screening and selecting, a third party, is removed from first-hand knowledge of the work to be done. They don’t have an adequate understanding of the work to identify who the best consultant is and there is no basis for intuition while screening consultants.

Like the rest of us, the management consulting market is susceptible to insanity –repeating the same activity and expecting different results. The 1980’s models used for sourcing management consultants (staffing firms and consultancies) have at least three detrimental effects on selecting a quality management consultant.
 
First, using a staffing firm or a consultancy immediately limits the pool of consultants to those the firm happens to have. Second, the first- and second-tier consultants are usually committed to other work, leaving third-tier consultants from which to choose. Remember that these are consultants in a pool that is already compromised by the firm’s business model: low pay –which has a propensity to deflect top-tier consultants. Third, these firms’ intermediary position perpetuates the “whisper down the lane” effect, where the criteria and requirements are compromised. A middle-man, as hard as they try, cannot screen and select as effectively as the client. This effect is difficult to overcome with the value they claim. After all, a compromised selection impacts the client for at least the duration of the work –and most likely beyond. In reality, staffing agencies sell their services on their ability to select quality consultants for the client, but their business model actually attracts lower-tier consultants. What the client has to ask is, “Is the time I supposedly save by using the middle-man worth risking the quality of consultant I ultimately get?”

Staffing firms sell, in part, on the claim of saving the client’s time. In the past, that may have been true for lack of alternatives, but today, with web-based services, consultants are available at the fingertips of clients who can themselves quickly, easily, and effectively connect directly to top-tier consultants.

Find A Management Consultant

Whether you get the right management consultant depends on the pool from which you are selecting as well as who screens and selects. Until recently, there were not many alternatives to the 35-year-old models. Today, web-based services provide a more efficient alternative by allowing clients to quickly and easily search by discipline, industry, and function to narrow down their selection. Screening and directly connecting to elite, credentialed management consultants allows clients to onboard the consultants they need quickly, easily and effectively. Giving clients direct access to searching and connecting removes interference and misunderstandings and, in the end, gets them the right management consultant.

Key Takeaways to Is the Management Consultant You Found the Right One

  • There is a historical pattern of dissatisfaction in the management consulting market (for clients and consultants) that has created the opportunity for a better way
  • Traditional intermediaries between a client’s screening and selection of a management consultant reduce the likelihood of onboarding a consultant that meets or exceeds the client’s requirements
  • Web-based networks are valuable resources for clients to quickly, easily, and effectively connect directly to management consultants that meet or exceed their requirements

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

How Do You Network with Other Consultants?

The need for independent management consultants to network and collaborate is increasing as more business professionals provide their expertise in the form of free-agent services. If they are to survive, independents have to encroach on the work that small, mid-size, and even large consultancies obtain. Continuing to act in the strict sense of independence is going to be an independent consultant’s rate-limiting factor and their barrier to truly working apart from staffing firms and consulting houses. Successful independents establish a workable network that allows them to expand their bench and collaborate when needed, (just-in-time collaboration) enabling them to take on opportunities and clients they would not have been able to as a strict solo practitioner.

Long Live Independence
Many independent management consultants started their own practice to be independent. Either they worked for one of the big four, a smaller consulting house, or were on the client side –any one of which could have frustrated their own vision of delivering the services they do so well.  It is an appealing life-style for many. You are your own boss. You’re in control of what is delivered. No compromising, adjusting, or waiting for another to bring them along. You don’t have to share the accolades. Your clients love your work. It feeds the ego.  

Networking and Connecting
Working truly as an independent is quite rewarding, but it takes a practice only so far.  As the number of independent management consultants increases in the market, fewer opportunities to work strictly solo will present, requiring the independent to position their practice in a way that accommodates opportunities that were not possible before. The only way to do that is by expanding offerings and capabilities through depth of bench. That means working with other consultants ... and that means networking and connecting with them first.

Traditional Networking Methods Don’t Work
It is hard enough to give time and effort to business development. Dedicating time and effort to networking with other consultants seems impossible. After all, with how many consultants do I need to network to find one with whom I can work? Traditional methods of networking –attending networking events, breakfast meetings, dinner meetings, after-hours get-togethers, joining memberships, etc.– are time drains and grossly inefficient. The occasional referral is not enough to establish and sustain a reliable network of consultants that can be called a bench.

Find A Management Consultant

The Efficient Way
Fortunately, web-based networks are becoming available as viable options for finding high-caliber management consultants. While some web-based networks still involve human intermediaries, others offer direct client-consultant and consultant-consultant connections.  Those that offer direct connections provide the independent consultant an efficient means of finding complements that are easily screened through search utilities and profiles built into these modern network services. Search utilities and transparent information, like credentials, referrals and ratings, help the consultant sift through hundreds of candidates in a matter of minutes -far more efficiently than traditional networking methods.  

While the independent management consultant seeks to adapt to the changing market, web-based technology, as it has in so many other markets, is replacing the old and inefficient ways.

Key Takeaways to How Do You Network with Other Management Consultants?

  • Saturation of the independent management consultant market requires the independent to adapt   
  • Successful independents establish a workable network that allows them to expand their bench and collaborate when needed, enabling them to take on work and clients they would not have been able to as a strict solo practitioner
  • Web-based networks are a valuable resource for independent management consultants in order to efficiently develop a deep bench

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

The need for independent management consultants to network and collaborate is increasing as more business professionals provide their expertise in the form of free-agent services. If they are to survive, independents have to encroach on the work that small, mid-size, and even large consultancies obtain. Continuing to act in the strict sense of independence is going to be an independent consultant’s rate-limiting factor and their barrier to truly working apart from staffing firms and consulting houses. Successful independents establish a workable network that allows them to expand their bench and collaborate when needed, (just-in-time collaboration) enabling them to take on opportunities and clients they would not have been able to as a strict solo practitioner.

Long Live Independence
Many independent management consultants started their own practice to be independent. Either they worked for one of the big four, a smaller consulting house, or were on the client side –any one of which could have frustrated their own vision of delivering the services they do so well.  It is an appealing life-style for many. You are your own boss. You’re in control of what is delivered. No compromising, adjusting, or waiting for another to bring them along. You don’t have to share the accolades. Your clients love your work. It feeds the ego.  

Networking and Connecting
Working truly as an independent is quite rewarding, but it takes a practice only so far.  As the number of independent management consultants increases in the market, fewer opportunities to work strictly solo will present, requiring the independent to position their practice in a way that accommodates opportunities that were not possible before. The only way to do that is by expanding offerings and capabilities through depth of bench. That means working with other consultants ... and that means networking and connecting with them first.

Traditional Networking Methods Don’t Work
It is hard enough to give time and effort to business development. Dedicating time and effort to networking with other consultants seems impossible. After all, with how many consultants do I need to network to find one with whom I can work? Traditional methods of networking –attending networking events, breakfast meetings, dinner meetings, after-hours get-togethers, joining memberships, etc.– are time drains and grossly inefficient. The occasional referral is not enough to establish and sustain a reliable network of consultants that can be called a bench.

Find A Management Consultant

The Efficient Way
Fortunately, web-based networks are becoming available as viable options for finding high-caliber management consultants. While some web-based networks still involve human intermediaries, others offer direct client-consultant and consultant-consultant connections.  Those that offer direct connections provide the independent consultant an efficient means of finding complements that are easily screened through search utilities and profiles built into these modern network services. Search utilities and transparent information, like credentials, referrals and ratings, help the consultant sift through hundreds of candidates in a matter of minutes -far more efficiently than traditional networking methods.  

While the independent management consultant seeks to adapt to the changing market, web-based technology, as it has in so many other markets, is replacing the old and inefficient ways.

Key Takeaways to How Do You Network with Other Management Consultants?

  • Saturation of the independent management consultant market requires the independent to adapt   
  • Successful independents establish a workable network that allows them to expand their bench and collaborate when needed, enabling them to take on work and clients they would not have been able to as a strict solo practitioner
  • Web-based networks are a valuable resource for independent management consultants in order to efficiently develop a deep bench

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

The need for independent management consultants to network and collaborate is increasing as more business professionals provide their expertise in the form of free-agent services. If they are to survive, independents have to encroach on the work that small, mid-size, and even large consultancies obtain. Continuing to act in the strict sense of independence is going to be an independent consultant’s rate-limiting factor and their barrier to truly working apart from staffing firms and consulting houses. Successful independents establish a workable network that allows them to expand their bench and collaborate when needed, (just-in-time collaboration) enabling them to take on opportunities and clients they would not have been able to as a strict solo practitioner.

Long Live Independence
Many independent management consultants started their own practice to be independent. Either they worked for one of the big four, a smaller consulting house, or were on the client side –any one of which could have frustrated their own vision of delivering the services they do so well.  It is an appealing life-style for many. You are your own boss. You’re in control of what is delivered. No compromising, adjusting, or waiting for another to bring them along. You don’t have to share the accolades. Your clients love your work. It feeds the ego.  

Networking and Connecting
Working truly as an independent is quite rewarding, but it takes a practice only so far.  As the number of independent management consultants increases in the market, fewer opportunities to work strictly solo will present, requiring the independent to position their practice in a way that accommodates opportunities that were not possible before. The only way to do that is by expanding offerings and capabilities through depth of bench. That means working with other consultants ... and that means networking and connecting with them first.

Traditional Networking Methods Don’t Work
It is hard enough to give time and effort to business development. Dedicating time and effort to networking with other consultants seems impossible. After all, with how many consultants do I need to network to find one with whom I can work? Traditional methods of networking –attending networking events, breakfast meetings, dinner meetings, after-hours get-togethers, joining memberships, etc.– are time drains and grossly inefficient. The occasional referral is not enough to establish and sustain a reliable network of consultants that can be called a bench.

Find A Management Consultant

The Efficient Way
Fortunately, web-based networks are becoming available as viable options for finding high-caliber management consultants. While some web-based networks still involve human intermediaries, others offer direct client-consultant and consultant-consultant connections.  Those that offer direct connections provide the independent consultant an efficient means of finding complements that are easily screened through search utilities and profiles built into these modern network services. Search utilities and transparent information, like credentials, referrals and ratings, help the consultant sift through hundreds of candidates in a matter of minutes -far more efficiently than traditional networking methods.  

While the independent management consultant seeks to adapt to the changing market, web-based technology, as it has in so many other markets, is replacing the old and inefficient ways.

Key Takeaways to How Do You Network with Other Management Consultants?

  • Saturation of the independent management consultant market requires the independent to adapt   
  • Successful independents establish a workable network that allows them to expand their bench and collaborate when needed, enabling them to take on work and clients they would not have been able to as a strict solo practitioner
  • Web-based networks are a valuable resource for independent management consultants in order to efficiently develop a deep bench

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

The Diffused Market of Clients In Need of Consultants

The management consulting market is fragmented on the consultant side with thousands of independent consultants; large, medium, small, and boutique consulting houses; staffing agencies; and on and on. On the other hand, there is a whole market of clients who need management consulting services and is every bit as fragmented. Fragmented in the sense that there is not a central marketplace for the exchange between client and consultant where the client can see all their options.

This dually fragmented market is grossly inefficient. The time and resources it absorbs kills productivity and value. Reliance on the heavily staffed, brick-and-mortar, 1980’s models of sourcing consultants perpetuates inefficiency and fragmentation and drives up costs. 

A common challenge for both consultants and clients is that neither has a holistic view of the other. Clients don’t have easy access to the market of management consulting services to easily shop, compare, and buy. The same can be said of management consultants –the market of client needs is not neatly and easily made known. The market is mostly made up of the smoke and mirrors of indirect contacts.

Imagine the whole market of clients who need management consulting services in a huge central network. Also imagine that every management consulting service is also in the same network. Clients could freely and directly find management consultants, seeing for themselves the consultants’ credentials and qualifications. Clients could find management consultants who understand their situations and who possess the depth of knowledge and industry background that allows them to hit the ground running. Through direct connections, without the filters and biases of middle-men, a client could easily, effectively and quickly find the consultant they need.

Find A Management Consultant

The management consulting market has lately been moving toward this imagined world of direct access. There are more options today for clients to find the high-caliber management consultants they need by direct connection through web-based networks. Fifteen years into the 21st century, the management consulting industry is finally coming into web-based networks designed especially for this market. It will be only a matter of time for the imagined market to fully arrive as clients begin to see that direct access to management consultants allows for finding the best consultant, improved return on investment, and better insight of the market and the available talent.

Key Takeaways to The Diffused Market of Clients In Need of Management Consultants:

  • The market of indirect contacts between clients and management consultants is grossly inefficient.  The time and resources it absorbs kills productivity and value.  
  • Direct access to management consultants allows for finding the best choice, improved return on investment, and better insight of the market and the available talent
  • There are more options today for clients to find the high-caliber management consultants they need by direct connection through web-based networks.  

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

The management consulting market is fragmented on the consultant side with thousands of independent consultants; large, medium, small, and boutique consulting houses; staffing agencies; and on and on. On the other hand, there is a whole market of clients who need management consulting services and is every bit as fragmented. Fragmented in the sense that there is not a central marketplace for the exchange between client and consultant where the client can see all their options.

This dually fragmented market is grossly inefficient. The time and resources it absorbs kills productivity and value. Reliance on the heavily staffed, brick-and-mortar, 1980’s models of sourcing consultants perpetuates inefficiency and fragmentation and drives up costs. 

A common challenge for both consultants and clients is that neither has a holistic view of the other. Clients don’t have easy access to the market of management consulting services to easily shop, compare, and buy. The same can be said of management consultants –the market of client needs is not neatly and easily made known. The market is mostly made up of the smoke and mirrors of indirect contacts.

Imagine the whole market of clients who need management consulting services in a huge central network. Also imagine that every management consulting service is also in the same network. Clients could freely and directly find management consultants, seeing for themselves the consultants’ credentials and qualifications. Clients could find management consultants who understand their situations and who possess the depth of knowledge and industry background that allows them to hit the ground running. Through direct connections, without the filters and biases of middle-men, a client could easily, effectively and quickly find the consultant they need.

Find A Management Consultant

The management consulting market has lately been moving toward this imagined world of direct access. There are more options today for clients to find the high-caliber management consultants they need by direct connection through web-based networks. Fifteen years into the 21st century, the management consulting industry is finally coming into web-based networks designed especially for this market. It will be only a matter of time for the imagined market to fully arrive as clients begin to see that direct access to management consultants allows for finding the best consultant, improved return on investment, and better insight of the market and the available talent.

Key Takeaways to The Diffused Market of Clients In Need of Management Consultants:

  • The market of indirect contacts between clients and management consultants is grossly inefficient.  The time and resources it absorbs kills productivity and value.  
  • Direct access to management consultants allows for finding the best choice, improved return on investment, and better insight of the market and the available talent
  • There are more options today for clients to find the high-caliber management consultants they need by direct connection through web-based networks.  

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

The management consulting market is fragmented on the consultant side with thousands of independent consultants; large, medium, small, and boutique consulting houses; staffing agencies; and on and on. On the other hand, there is a whole market of clients who need management consulting services and is every bit as fragmented. Fragmented in the sense that there is not a central marketplace for the exchange between client and consultant where the client can see all their options.

This dually fragmented market is grossly inefficient. The time and resources it absorbs kills productivity and value. Reliance on the heavily staffed, brick-and-mortar, 1980’s models of sourcing consultants perpetuates inefficiency and fragmentation and drives up costs. 

A common challenge for both consultants and clients is that neither has a holistic view of the other. Clients don’t have easy access to the market of management consulting services to easily shop, compare, and buy. The same can be said of management consultants –the market of client needs is not neatly and easily made known. The market is mostly made up of the smoke and mirrors of indirect contacts.

Imagine the whole market of clients who need management consulting services in a huge central network. Also imagine that every management consulting service is also in the same network. Clients could freely and directly find management consultants, seeing for themselves the consultants’ credentials and qualifications. Clients could find management consultants who understand their situations and who possess the depth of knowledge and industry background that allows them to hit the ground running. Through direct connections, without the filters and biases of middle-men, a client could easily, effectively and quickly find the consultant they need.

Find A Management Consultant

The management consulting market has lately been moving toward this imagined world of direct access. There are more options today for clients to find the high-caliber management consultants they need by direct connection through web-based networks. Fifteen years into the 21st century, the management consulting industry is finally coming into web-based networks designed especially for this market. It will be only a matter of time for the imagined market to fully arrive as clients begin to see that direct access to management consultants allows for finding the best consultant, improved return on investment, and better insight of the market and the available talent.

Key Takeaways to The Diffused Market of Clients In Need of Management Consultants:

  • The market of indirect contacts between clients and management consultants is grossly inefficient.  The time and resources it absorbs kills productivity and value.  
  • Direct access to management consultants allows for finding the best choice, improved return on investment, and better insight of the market and the available talent
  • There are more options today for clients to find the high-caliber management consultants they need by direct connection through web-based networks.  

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

How Do You Get Your Name Out There?

In order to find new business, you have to keep building your opportunity funnel. Do you have control of how you are represented in the market by staffing firms and consulting houses? Are you driving business development to the levels you prefer? Most management consultants began their businesses wanting to deliver superior work, directly. They didn’t necessarily sign up for endless business development calls. Market your capabilities and feature yourself while connecting directly with clients and other consultants.

Slow. Difficult. Ineffective.
How much time do you spend marketing yourself and driving business development? Most management consultants report nearly 30% of their time is spent in these capacities. At the end of the day, your business development depends on the following points. Keep working with clients for whom you have done good work in the past. Leverage your network of clients and referrals. Write proposals on open RFPs and hope for the best possible outcome. Develop relationships with other independent consultants and small consulting and staffing groups. Post on consultants’ directories. Isn’t it time for a change?

Spending Time
How much time and energy do you have to spend on business development? Skipping from one contract to another as a direct-contract, direct-billed 1099 contractor without missing a day of billing is just an illusion. Business development is a full-time job for the management consultant who is not billing hours. It is the rare independent who balances their business development time while working under contract. The most effective business development is walking the halls of clients during existing engagements, establishing new relationships within a client company, and proving your capability during existing projects. During the business development cycles, the independent either reaches out to existing contacts, cold calls new contacts or scans public sources for RFPs, activities that really need time.

Third Parties
Management consultants who are new to consulting or have smaller networks use staffing organizations and larger consulting companies to promote their services. More experienced management consultants with established networks of clients traditionally use staffing firms and consulting firms in periods of project drought. Well established management consultants have large enough networks and enough proven history to be in constant demand. To summarize, if you don’t have enough contacts and a high level of experience, then you depend on third parties to get work. How about having full control of how your capabilities and experiences are represented without losing a significant amount of your income because of middle-men fees?

Strong Shackles
As a management consultant, you don’t have a lot of flexibility in reaching prospective clients. Cold calls, emails, and snail mail are inefficient unless the client happens to have a need for a consultant at the exact moment the contact happens. On the other hand, creating a web presence, working social media, writing and publishing articles, getting on a speaking circuit and publishing blogs require an entire marketing strategy which requires a substantial budget and effort. That limits an independent’s ability to conduct direct or indirect marketing, which by the way doesn’t prove the consultant’s credibility. For the most part, management consultants are limited to their direct relationships and referrals which leads back to timing and luck. How about listing your profile the way you want and becoming discoverable by clients wanting to work direct?

Find A Management Consultant

Doing it Yourself
Being trapped between doing business development and focusing on your consulting services is not what you signed up for. An individual marketing strategy costs both time and money. Depending on staffing firms and consulting houses costs you money in the form of compromised rates.  On the contrary, being able to sell your services directly to clients enables you to directly contract with the client and gives you leverage. You increase the rates you would get from subcontracting, you have much better flexibility in customizing your delivery to the clients’ needs, you better establish your portfolio of delivered projects and you build your own branding. MyNextConsultant enables you to clearly demonstrate where you have expertise, it facilitates you to show specific credentials in the form of projects you have previously delivered, and allows for references on these credentials and present ratings from prior clients.
Win-win!

Key Takeaways to How Do You Get Your Name Out There:

  • MyNextConsultant allows management consultants to present themselves in their “best light” while focusing on what they do best -consulting
  • With MyNextConsultant, management consultants have a free way to market themselves and drive personal business development
  • MyNextConsultant eliminates the arduous task of business development and allows for an individualized approach to marketing

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

In order to find new business, you have to keep building your opportunity funnel. Do you have control of how you are represented in the market by staffing firms and consulting houses? Are you driving business development to the levels you prefer? Most management consultants began their businesses wanting to deliver superior work, directly. They didn’t necessarily sign up for endless business development calls. Market your capabilities and feature yourself while connecting directly with clients and other consultants.

Slow. Difficult. Ineffective.
How much time do you spend marketing yourself and driving business development? Most management consultants report nearly 30% of their time is spent in these capacities. At the end of the day, your business development depends on the following points. Keep working with clients for whom you have done good work in the past. Leverage your network of clients and referrals. Write proposals on open RFPs and hope for the best possible outcome. Develop relationships with other independent consultants and small consulting and staffing groups. Post on consultants’ directories. Isn’t it time for a change?

Spending Time
How much time and energy do you have to spend on business development? Skipping from one contract to another as a direct-contract, direct-billed 1099 contractor without missing a day of billing is just an illusion. Business development is a full-time job for the management consultant who is not billing hours. It is the rare independent who balances their business development time while working under contract. The most effective business development is walking the halls of clients during existing engagements, establishing new relationships within a client company, and proving your capability during existing projects. During the business development cycles, the independent either reaches out to existing contacts, cold calls new contacts or scans public sources for RFPs, activities that really need time.

Third Parties
Management consultants who are new to consulting or have smaller networks use staffing organizations and larger consulting companies to promote their services. More experienced management consultants with established networks of clients traditionally use staffing firms and consulting firms in periods of project drought. Well established management consultants have large enough networks and enough proven history to be in constant demand. To summarize, if you don’t have enough contacts and a high level of experience, then you depend on third parties to get work. How about having full control of how your capabilities and experiences are represented without losing a significant amount of your income because of middle-men fees?

Strong Shackles
As a management consultant, you don’t have a lot of flexibility in reaching prospective clients. Cold calls, emails, and snail mail are inefficient unless the client happens to have a need for a consultant at the exact moment the contact happens. On the other hand, creating a web presence, working social media, writing and publishing articles, getting on a speaking circuit and publishing blogs require an entire marketing strategy which requires a substantial budget and effort. That limits an independent’s ability to conduct direct or indirect marketing, which by the way doesn’t prove the consultant’s credibility. For the most part, management consultants are limited to their direct relationships and referrals which leads back to timing and luck. How about listing your profile the way you want and becoming discoverable by clients wanting to work direct?

Find A Management Consultant

Doing it Yourself
Being trapped between doing business development and focusing on your consulting services is not what you signed up for. An individual marketing strategy costs both time and money. Depending on staffing firms and consulting houses costs you money in the form of compromised rates.  On the contrary, being able to sell your services directly to clients enables you to directly contract with the client and gives you leverage. You increase the rates you would get from subcontracting, you have much better flexibility in customizing your delivery to the clients’ needs, you better establish your portfolio of delivered projects and you build your own branding. MyNextConsultant enables you to clearly demonstrate where you have expertise, it facilitates you to show specific credentials in the form of projects you have previously delivered, and allows for references on these credentials and present ratings from prior clients.
Win-win!

Key Takeaways to How Do You Get Your Name Out There:

  • MyNextConsultant allows management consultants to present themselves in their “best light” while focusing on what they do best -consulting
  • With MyNextConsultant, management consultants have a free way to market themselves and drive personal business development
  • MyNextConsultant eliminates the arduous task of business development and allows for an individualized approach to marketing

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

In order to find new business, you have to keep building your opportunity funnel. Do you have control of how you are represented in the market by staffing firms and consulting houses? Are you driving business development to the levels you prefer? Most management consultants began their businesses wanting to deliver superior work, directly. They didn’t necessarily sign up for endless business development calls. Market your capabilities and feature yourself while connecting directly with clients and other consultants.

Slow. Difficult. Ineffective.
How much time do you spend marketing yourself and driving business development? Most management consultants report nearly 30% of their time is spent in these capacities. At the end of the day, your business development depends on the following points. Keep working with clients for whom you have done good work in the past. Leverage your network of clients and referrals. Write proposals on open RFPs and hope for the best possible outcome. Develop relationships with other independent consultants and small consulting and staffing groups. Post on consultants’ directories. Isn’t it time for a change?

Spending Time
How much time and energy do you have to spend on business development? Skipping from one contract to another as a direct-contract, direct-billed 1099 contractor without missing a day of billing is just an illusion. Business development is a full-time job for the management consultant who is not billing hours. It is the rare independent who balances their business development time while working under contract. The most effective business development is walking the halls of clients during existing engagements, establishing new relationships within a client company, and proving your capability during existing projects. During the business development cycles, the independent either reaches out to existing contacts, cold calls new contacts or scans public sources for RFPs, activities that really need time.

Third Parties
Management consultants who are new to consulting or have smaller networks use staffing organizations and larger consulting companies to promote their services. More experienced management consultants with established networks of clients traditionally use staffing firms and consulting firms in periods of project drought. Well established management consultants have large enough networks and enough proven history to be in constant demand. To summarize, if you don’t have enough contacts and a high level of experience, then you depend on third parties to get work. How about having full control of how your capabilities and experiences are represented without losing a significant amount of your income because of middle-men fees?

Strong Shackles
As a management consultant, you don’t have a lot of flexibility in reaching prospective clients. Cold calls, emails, and snail mail are inefficient unless the client happens to have a need for a consultant at the exact moment the contact happens. On the other hand, creating a web presence, working social media, writing and publishing articles, getting on a speaking circuit and publishing blogs require an entire marketing strategy which requires a substantial budget and effort. That limits an independent’s ability to conduct direct or indirect marketing, which by the way doesn’t prove the consultant’s credibility. For the most part, management consultants are limited to their direct relationships and referrals which leads back to timing and luck. How about listing your profile the way you want and becoming discoverable by clients wanting to work direct?

Find A Management Consultant

Doing it Yourself
Being trapped between doing business development and focusing on your consulting services is not what you signed up for. An individual marketing strategy costs both time and money. Depending on staffing firms and consulting houses costs you money in the form of compromised rates.  On the contrary, being able to sell your services directly to clients enables you to directly contract with the client and gives you leverage. You increase the rates you would get from subcontracting, you have much better flexibility in customizing your delivery to the clients’ needs, you better establish your portfolio of delivered projects and you build your own branding. MyNextConsultant enables you to clearly demonstrate where you have expertise, it facilitates you to show specific credentials in the form of projects you have previously delivered, and allows for references on these credentials and present ratings from prior clients.
Win-win!

Key Takeaways to How Do You Get Your Name Out There:

  • MyNextConsultant allows management consultants to present themselves in their “best light” while focusing on what they do best -consulting
  • With MyNextConsultant, management consultants have a free way to market themselves and drive personal business development
  • MyNextConsultant eliminates the arduous task of business development and allows for an individualized approach to marketing

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Management Consultants: Referral vs. Reference

Independent consultants live and die by happy clients. Strong performance and close relationships are the best source of future opportunities that a consultant can have. Every experienced consultant knows that a solid reputation of high performance and an engaging personality wins future business, and having pleased clients who will endorse you is invaluable.

What are the common elements of business development that you, as a management consultant, need to do? You have a solid resume. You need a good referral network. You need strategic relationships, referrals, references, and ongoing business development. It is so much to do, and yet you became a management consultant to gain independence and focus on delivering great work to your clients.

Resumes do not provide a compelling tale of your accomplishments, and you can’t truly sum up your experience and capabilities in a one or two page document.

This blog focuses on two areas: referrals and references, because they make your business development engine hum. Clients want to know -- not think -- that you can fulfill their needs.

How do you ensure that someone evaluating your professional background gets the big picture? How do you ensure that you accurately portray your specialized skills and prove the value you bring to the table? Recommendations and endorsements from your past clients bring these to the forefront. Referrals and references result in new business, but how do you leverage them to create new opportunities?

The Referral
As an independent consultant, referrals are a huge part of your business development. It’s no news: in order to get new business you need to actively solicit new clients, maintain healthy relationships with existing clients, and satisfy them to make sure that they refer you to new clients. When you perform well, clients refer you to their contacts or continue working with you as they move on to new positions in the same or in a new company.

Relatively little time and energy is needed to actually request a referral – the true time and energy is invested in doing good work and building strong relationships. However, referrals address a very limited audience since they are inherently one-to-one relationships (Elizabeth tells Brian how great you are and that you would be a great person to help her with her needs). These are highly effective if they reach the right person, but getting the referral to the right person at just the right time is relatively rare.

The Reference
It is typical to ask a client for a reference at the completion of a project. This is as important of a closeout activity as the final invoice and archiving project documentation. Is a reference a simple comment about how Natalie is great and a pleasure to work with, or is it a detailed account of what Natalie worked on and how she contributed? Clients need ways to access the work of the management consultants. Management consultants need such references, as they contribute greatly to new business opportunities. References demonstrate that you successfully delivered similar work in the past provide increased confidence in the consultant’s potential. In addition, when hearing about previous project work that the management consultant has performed, clients may identify needs that they might have for which they were not previously even aware.

The Value
Broadly stated basic references provide relatively little value. Business development comes from detailed references that describe both what work was provided and how it was provided, as well as insights into what it was like for the client to work with the consultant. Referrals have the potential of adding a further level of confidence, as the referrer is personally familiar to the new client and is providing their personal endorsement.

Find A Management Consultant

The Power
As we discussed, you likely did not get into management consulting to do business development. MyNextConsultant provides management consultants a forum in which to feature their abilities and credibility directly to clients. You determine how you want to present yourself and can ask for and attach references to the credentials you present in your profile. Referrals and references are only as valuable as how you leverage them, and MyNextConsultant is the best vehicle to be seen by a large number of clients who are looking for support.

Key Takeaways to Management Consultants: Referral vs. Reference:

  • MyNextConsultant allows consultants to credential themselves with projects they have delivered -- not just a stale resume
  • References are only valuable to the degree they are seen by clients
  • With MyNextConsultant, management consultants demonstrate the depth of their knowledge and their industry background
  • MyNextConsultant allows credentialed management consultants to connect directly with clients
  • MyNextConsultant allows management consultants the ability to request and share references to provide increased confidence to their credentials

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Independent consultants live and die by happy clients. Strong performance and close relationships are the best source of future opportunities that a consultant can have. Every experienced consultant knows that a solid reputation of high performance and an engaging personality wins future business, and having pleased clients who will endorse you is invaluable.

What are the common elements of business development that you, as a management consultant, need to do? You have a solid resume. You need a good referral network. You need strategic relationships, referrals, references, and ongoing business development. It is so much to do, and yet you became a management consultant to gain independence and focus on delivering great work to your clients.

Resumes do not provide a compelling tale of your accomplishments, and you can’t truly sum up your experience and capabilities in a one or two page document.

This blog focuses on two areas: referrals and references, because they make your business development engine hum. Clients want to know -- not think -- that you can fulfill their needs.

How do you ensure that someone evaluating your professional background gets the big picture? How do you ensure that you accurately portray your specialized skills and prove the value you bring to the table? Recommendations and endorsements from your past clients bring these to the forefront. Referrals and references result in new business, but how do you leverage them to create new opportunities?

The Referral
As an independent consultant, referrals are a huge part of your business development. It’s no news: in order to get new business you need to actively solicit new clients, maintain healthy relationships with existing clients, and satisfy them to make sure that they refer you to new clients. When you perform well, clients refer you to their contacts or continue working with you as they move on to new positions in the same or in a new company.

Relatively little time and energy is needed to actually request a referral – the true time and energy is invested in doing good work and building strong relationships. However, referrals address a very limited audience since they are inherently one-to-one relationships (Elizabeth tells Brian how great you are and that you would be a great person to help her with her needs). These are highly effective if they reach the right person, but getting the referral to the right person at just the right time is relatively rare.

The Reference
It is typical to ask a client for a reference at the completion of a project. This is as important of a closeout activity as the final invoice and archiving project documentation. Is a reference a simple comment about how Natalie is great and a pleasure to work with, or is it a detailed account of what Natalie worked on and how she contributed? Clients need ways to access the work of the management consultants. Management consultants need such references, as they contribute greatly to new business opportunities. References demonstrate that you successfully delivered similar work in the past provide increased confidence in the consultant’s potential. In addition, when hearing about previous project work that the management consultant has performed, clients may identify needs that they might have for which they were not previously even aware.

The Value
Broadly stated basic references provide relatively little value. Business development comes from detailed references that describe both what work was provided and how it was provided, as well as insights into what it was like for the client to work with the consultant. Referrals have the potential of adding a further level of confidence, as the referrer is personally familiar to the new client and is providing their personal endorsement.

Find A Management Consultant

The Power
As we discussed, you likely did not get into management consulting to do business development. MyNextConsultant provides management consultants a forum in which to feature their abilities and credibility directly to clients. You determine how you want to present yourself and can ask for and attach references to the credentials you present in your profile. Referrals and references are only as valuable as how you leverage them, and MyNextConsultant is the best vehicle to be seen by a large number of clients who are looking for support.

Key Takeaways to Management Consultants: Referral vs. Reference:

  • MyNextConsultant allows consultants to credential themselves with projects they have delivered -- not just a stale resume
  • References are only valuable to the degree they are seen by clients
  • With MyNextConsultant, management consultants demonstrate the depth of their knowledge and their industry background
  • MyNextConsultant allows credentialed management consultants to connect directly with clients
  • MyNextConsultant allows management consultants the ability to request and share references to provide increased confidence to their credentials

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Independent consultants live and die by happy clients. Strong performance and close relationships are the best source of future opportunities that a consultant can have. Every experienced consultant knows that a solid reputation of high performance and an engaging personality wins future business, and having pleased clients who will endorse you is invaluable.

What are the common elements of business development that you, as a management consultant, need to do? You have a solid resume. You need a good referral network. You need strategic relationships, referrals, references, and ongoing business development. It is so much to do, and yet you became a management consultant to gain independence and focus on delivering great work to your clients.

Resumes do not provide a compelling tale of your accomplishments, and you can’t truly sum up your experience and capabilities in a one or two page document.

This blog focuses on two areas: referrals and references, because they make your business development engine hum. Clients want to know -- not think -- that you can fulfill their needs.

How do you ensure that someone evaluating your professional background gets the big picture? How do you ensure that you accurately portray your specialized skills and prove the value you bring to the table? Recommendations and endorsements from your past clients bring these to the forefront. Referrals and references result in new business, but how do you leverage them to create new opportunities?

The Referral
As an independent consultant, referrals are a huge part of your business development. It’s no news: in order to get new business you need to actively solicit new clients, maintain healthy relationships with existing clients, and satisfy them to make sure that they refer you to new clients. When you perform well, clients refer you to their contacts or continue working with you as they move on to new positions in the same or in a new company.

Relatively little time and energy is needed to actually request a referral – the true time and energy is invested in doing good work and building strong relationships. However, referrals address a very limited audience since they are inherently one-to-one relationships (Elizabeth tells Brian how great you are and that you would be a great person to help her with her needs). These are highly effective if they reach the right person, but getting the referral to the right person at just the right time is relatively rare.

The Reference
It is typical to ask a client for a reference at the completion of a project. This is as important of a closeout activity as the final invoice and archiving project documentation. Is a reference a simple comment about how Natalie is great and a pleasure to work with, or is it a detailed account of what Natalie worked on and how she contributed? Clients need ways to access the work of the management consultants. Management consultants need such references, as they contribute greatly to new business opportunities. References demonstrate that you successfully delivered similar work in the past provide increased confidence in the consultant’s potential. In addition, when hearing about previous project work that the management consultant has performed, clients may identify needs that they might have for which they were not previously even aware.

The Value
Broadly stated basic references provide relatively little value. Business development comes from detailed references that describe both what work was provided and how it was provided, as well as insights into what it was like for the client to work with the consultant. Referrals have the potential of adding a further level of confidence, as the referrer is personally familiar to the new client and is providing their personal endorsement.

Find A Management Consultant

The Power
As we discussed, you likely did not get into management consulting to do business development. MyNextConsultant provides management consultants a forum in which to feature their abilities and credibility directly to clients. You determine how you want to present yourself and can ask for and attach references to the credentials you present in your profile. Referrals and references are only as valuable as how you leverage them, and MyNextConsultant is the best vehicle to be seen by a large number of clients who are looking for support.

Key Takeaways to Management Consultants: Referral vs. Reference:

  • MyNextConsultant allows consultants to credential themselves with projects they have delivered -- not just a stale resume
  • References are only valuable to the degree they are seen by clients
  • With MyNextConsultant, management consultants demonstrate the depth of their knowledge and their industry background
  • MyNextConsultant allows credentialed management consultants to connect directly with clients
  • MyNextConsultant allows management consultants the ability to request and share references to provide increased confidence to their credentials

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

What's the DIF Between Great & Average Consultants

Clients are looking at resumes hoping to find the difference between great and average management consultants. But resumes don’t tell very much as they don’t allow you to see deep into someone’s professional background. Additionally, it is hard to find work that is referenceable. Turning to staffing firms and middle-men ends up in increasing the cost of the received consulting services as well as getting insufficient results. Isn’t it time for a detailed assessment of a consultant’s experience and clear references to know who you are working with? How about searching for management consultants by filtering the level of expertise you need in the disciplines, industries, and functions you choose?

Hard to Assess
The majority of clients have no means of assessing management consultants today. They contract with staffing agencies or consulting houses and they leave it up to the middle-man to screen and select the right management consultant for them. The drawback is that the middle-man’s fee for that one consultant is a monthly annuity of $13,000 - $20,000 for the life of the contract – again, for one consultant! Clients who don’t want to work with middle-men choose to go direct, but how? If the management consultant knows how to articulate their experience in categories by competency or project that make sense to the seeking client then the clients are able to see the DIF between great and average management consultants.

No Background Depth
Outside of an interview, it is difficult for a client to see deeply into the consultant’s background.  That is because a resume is limited to a few pages and, due to its traditional chronological order, as most are, it comes up short on information the client needs. The client’s choice is only as good as the information they are able to get about the consultant. The disadvantage is that the client is unable to get a deep understanding of the candidate’s background, whereas, many excellent consultants are passed over because they are not fairly or accurately represented –by their own resumes or by middle-men.

MyNextConsultant DIF for Clients
MyNextConsultant provides the breakthrough clients are looking for. First, MyNextConsultant provides consultants the structure to articulate their capabilities and experiences in a way that is important to the client.  When the client is reading through the management consultant’s profile, they are reading about evidence of the experiences that are meaningful. Secondly, our solution sorts the management consultants so that clients select from lists of Disciplines, Industries, and Functions for their searches –qualifying the consultants according to expertise. Additionally, clients obtain additional qualifying information about the management consultant from third parties. MyNextConsultant allows for references and ratings provided by past clients in the context of the work provided by the management consultant.

Find A Management Consultant

Direct Benefit for Clients
Clients have direct access to an entire market that they did not have before and for which they had to pay dearly. Clients also have transparent access to the consultants in a way that is fast, easy, and effective. The direct relationship created by MyNextConsultant between the client and consultant eliminates the high-cost overhead of the middle-man models as well as the large disparity between what the client pays for a management consultant and what the management consultant receives. Additionally, the client bears no fees for what MyNextConsultant provides. This frees up the client’s resources to be used for the management consultant who has better qualifications.

Key Takeaways to What’s the DIF Between Great and Average Management Consultants:

  • MyNextConsultant allows clients to read through consultants to articulate their capabilities and experiences in a way that is important to the client
  • MyNextConsultant sorts the management consultants according to the Disciplines, Industries, and Functions of their expertise
  • MyNextConsultant allows for references and ratings in the context of previous services provided by the management consultant

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Clients are looking at resumes hoping to find the difference between great and average management consultants. But resumes don’t tell very much as they don’t allow you to see deep into someone’s professional background. Additionally, it is hard to find work that is referenceable. Turning to staffing firms and middle-men ends up in increasing the cost of the received consulting services as well as getting insufficient results. Isn’t it time for a detailed assessment of a consultant’s experience and clear references to know who you are working with? How about searching for management consultants by filtering the level of expertise you need in the disciplines, industries, and functions you choose?

Hard to Assess
The majority of clients have no means of assessing management consultants today. They contract with staffing agencies or consulting houses and they leave it up to the middle-man to screen and select the right management consultant for them. The drawback is that the middle-man’s fee for that one consultant is a monthly annuity of $13,000 - $20,000 for the life of the contract – again, for one consultant! Clients who don’t want to work with middle-men choose to go direct, but how? If the management consultant knows how to articulate their experience in categories by competency or project that make sense to the seeking client then the clients are able to see the DIF between great and average management consultants.

No Background Depth
Outside of an interview, it is difficult for a client to see deeply into the consultant’s background.  That is because a resume is limited to a few pages and, due to its traditional chronological order, as most are, it comes up short on information the client needs. The client’s choice is only as good as the information they are able to get about the consultant. The disadvantage is that the client is unable to get a deep understanding of the candidate’s background, whereas, many excellent consultants are passed over because they are not fairly or accurately represented –by their own resumes or by middle-men.

MyNextConsultant DIF for Clients
MyNextConsultant provides the breakthrough clients are looking for. First, MyNextConsultant provides consultants the structure to articulate their capabilities and experiences in a way that is important to the client.  When the client is reading through the management consultant’s profile, they are reading about evidence of the experiences that are meaningful. Secondly, our solution sorts the management consultants so that clients select from lists of Disciplines, Industries, and Functions for their searches –qualifying the consultants according to expertise. Additionally, clients obtain additional qualifying information about the management consultant from third parties. MyNextConsultant allows for references and ratings provided by past clients in the context of the work provided by the management consultant.

Find A Management Consultant

Direct Benefit for Clients
Clients have direct access to an entire market that they did not have before and for which they had to pay dearly. Clients also have transparent access to the consultants in a way that is fast, easy, and effective. The direct relationship created by MyNextConsultant between the client and consultant eliminates the high-cost overhead of the middle-man models as well as the large disparity between what the client pays for a management consultant and what the management consultant receives. Additionally, the client bears no fees for what MyNextConsultant provides. This frees up the client’s resources to be used for the management consultant who has better qualifications.

Key Takeaways to What’s the DIF Between Great and Average Management Consultants:

  • MyNextConsultant allows clients to read through consultants to articulate their capabilities and experiences in a way that is important to the client
  • MyNextConsultant sorts the management consultants according to the Disciplines, Industries, and Functions of their expertise
  • MyNextConsultant allows for references and ratings in the context of previous services provided by the management consultant

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Clients are looking at resumes hoping to find the difference between great and average management consultants. But resumes don’t tell very much as they don’t allow you to see deep into someone’s professional background. Additionally, it is hard to find work that is referenceable. Turning to staffing firms and middle-men ends up in increasing the cost of the received consulting services as well as getting insufficient results. Isn’t it time for a detailed assessment of a consultant’s experience and clear references to know who you are working with? How about searching for management consultants by filtering the level of expertise you need in the disciplines, industries, and functions you choose?

Hard to Assess
The majority of clients have no means of assessing management consultants today. They contract with staffing agencies or consulting houses and they leave it up to the middle-man to screen and select the right management consultant for them. The drawback is that the middle-man’s fee for that one consultant is a monthly annuity of $13,000 - $20,000 for the life of the contract – again, for one consultant! Clients who don’t want to work with middle-men choose to go direct, but how? If the management consultant knows how to articulate their experience in categories by competency or project that make sense to the seeking client then the clients are able to see the DIF between great and average management consultants.

No Background Depth
Outside of an interview, it is difficult for a client to see deeply into the consultant’s background.  That is because a resume is limited to a few pages and, due to its traditional chronological order, as most are, it comes up short on information the client needs. The client’s choice is only as good as the information they are able to get about the consultant. The disadvantage is that the client is unable to get a deep understanding of the candidate’s background, whereas, many excellent consultants are passed over because they are not fairly or accurately represented –by their own resumes or by middle-men.

MyNextConsultant DIF for Clients
MyNextConsultant provides the breakthrough clients are looking for. First, MyNextConsultant provides consultants the structure to articulate their capabilities and experiences in a way that is important to the client.  When the client is reading through the management consultant’s profile, they are reading about evidence of the experiences that are meaningful. Secondly, our solution sorts the management consultants so that clients select from lists of Disciplines, Industries, and Functions for their searches –qualifying the consultants according to expertise. Additionally, clients obtain additional qualifying information about the management consultant from third parties. MyNextConsultant allows for references and ratings provided by past clients in the context of the work provided by the management consultant.

Find A Management Consultant

Direct Benefit for Clients
Clients have direct access to an entire market that they did not have before and for which they had to pay dearly. Clients also have transparent access to the consultants in a way that is fast, easy, and effective. The direct relationship created by MyNextConsultant between the client and consultant eliminates the high-cost overhead of the middle-man models as well as the large disparity between what the client pays for a management consultant and what the management consultant receives. Additionally, the client bears no fees for what MyNextConsultant provides. This frees up the client’s resources to be used for the management consultant who has better qualifications.

Key Takeaways to What’s the DIF Between Great and Average Management Consultants:

  • MyNextConsultant allows clients to read through consultants to articulate their capabilities and experiences in a way that is important to the client
  • MyNextConsultant sorts the management consultants according to the Disciplines, Industries, and Functions of their expertise
  • MyNextConsultant allows for references and ratings in the context of previous services provided by the management consultant

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Management Consultants: Anybody Here?

Clients, who are in need of management consultants, use three basic channels  to find the right person. You know, because you have used them. First, you reach out to your network trying to locate a recommended management consultant by word-of-mouth. Second, you turn to staffing firms, hoping that the middle-man will find what they believe is the right fit for your needs. Third, you go to consulting houses that promise they have the correct professional with a strong background. How about something better?... How about having direct access to credentialed management consultants that can move your project forward efficiently? Are you ready to connect with the elite management consultants you need?

The Risk
When clients get management consultants selected by staffing firms and consulting houses, they take the chance of getting consultants who do not deliver what is expected. There is additional risk by using the middle-man. The gap between the client and the available management consultants inhibits direct interaction between the two parties. The client relies on the recruiting firm or the consulting house –the middle-man– to filter and select the consultant. The risk of getting a less-than-suitable consultant is greater than if the client and consultants interact directly.  The client ends up overpaying for management consultants and at the end of the day they feel under-delivered and dissatisfied.

The Unseen
Clients reach out to consulting firms and staffing firms because they have no visibility to the consultant marketplace and they have no access to a wide array of industries and disciplines. They depend on middle-men to find management consultants, who may or may not have the specialized expertise in the  functions, industries and disciplines needed. How about gaining access to the previously unseen market of management consultants, with direct transparency to their recommendations, ratings, and credentials? How about deciding on who qualifies for the job based on your own criteria?

Locating the Qualified
MyNextConsultant is the web-based community that puts an end to the above challenges and enables you to work directly with qualified and credentialed management consultants. Get direct access to high-quality management consultants without the middle-man. Quickly and easily narrow your search down to a short list of qualified management consultants by selecting from different industries, functions, and disciplines.

Find A Management Consultant

Seeing the Unseen
One of the key benefits of MyNextConsultant is that it provides clients access to an entire market of consultants who have always been there, but, until now, were not easily  found. Clients have privacy,  with the ability to preview consultant credentials anonymously until they choose to connect with the consultant they find works for them. With MyNextConsultant, clients have clear insight to the management consultant’s capabilities that meet the  requirements of the project and gain a first-hand understanding of the consultant’s qualifications.  

A Win-win
By using MyNextConsultant, clients connect directly with management consultants, reducing the risk of a mismatch and increasing the success rate of the work to be done –a win-win situation.  Through direct connections, the client eliminates the egregious overhead of the middle-man staffing agencies and consulting houses that is inevitably passed on to them or extracted from the management consultant –a win for everyone.

Key Takeaways to Management Consultants: Anybody Here:

  • MyNextConsultant enables you to work directly with qualified and credentialed management consultants
  • MyNextConsultant allows you to preview consultant credentials anonymously until you choose to connect with the consultant they feel like working with
  • MyNextConsultant reduces the risk of mismatch and increases the success rate of the work to be done


About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

Clients, who are in need of management consultants, use three basic channels  to find the right person. You know, because you have used them. First, you reach out to your network trying to locate a recommended management consultant by word-of-mouth. Second, you turn to staffing firms, hoping that the middle-man will find what they believe is the right fit for your needs. Third, you go to consulting houses that promise they have the correct professional with a strong background. How about something better?... How about having direct access to credentialed management consultants that can move your project forward efficiently? Are you ready to connect with the elite management consultants you need?

The Risk
When clients get management consultants selected by staffing firms and consulting houses, they take the chance of getting consultants who do not deliver what is expected. There is additional risk by using the middle-man. The gap between the client and the available management consultants inhibits direct interaction between the two parties. The client relies on the recruiting firm or the consulting house –the middle-man– to filter and select the consultant. The risk of getting a less-than-suitable consultant is greater than if the client and consultants interact directly.  The client ends up overpaying for management consultants and at the end of the day they feel under-delivered and dissatisfied.

The Unseen
Clients reach out to consulting firms and staffing firms because they have no visibility to the consultant marketplace and they have no access to a wide array of industries and disciplines. They depend on middle-men to find management consultants, who may or may not have the specialized expertise in the  functions, industries and disciplines needed. How about gaining access to the previously unseen market of management consultants, with direct transparency to their recommendations, ratings, and credentials? How about deciding on who qualifies for the job based on your own criteria?

Locating the Qualified
MyNextConsultant is the web-based community that puts an end to the above challenges and enables you to work directly with qualified and credentialed management consultants. Get direct access to high-quality management consultants without the middle-man. Quickly and easily narrow your search down to a short list of qualified management consultants by selecting from different industries, functions, and disciplines.

Find A Management Consultant

Seeing the Unseen
One of the key benefits of MyNextConsultant is that it provides clients access to an entire market of consultants who have always been there, but, until now, were not easily  found. Clients have privacy,  with the ability to preview consultant credentials anonymously until they choose to connect with the consultant they find works for them. With MyNextConsultant, clients have clear insight to the management consultant’s capabilities that meet the  requirements of the project and gain a first-hand understanding of the consultant’s qualifications.  

A Win-win
By using MyNextConsultant, clients connect directly with management consultants, reducing the risk of a mismatch and increasing the success rate of the work to be done –a win-win situation.  Through direct connections, the client eliminates the egregious overhead of the middle-man staffing agencies and consulting houses that is inevitably passed on to them or extracted from the management consultant –a win for everyone.

Key Takeaways to Management Consultants: Anybody Here:

  • MyNextConsultant enables you to work directly with qualified and credentialed management consultants
  • MyNextConsultant allows you to preview consultant credentials anonymously until you choose to connect with the consultant they feel like working with
  • MyNextConsultant reduces the risk of mismatch and increases the success rate of the work to be done


About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

Clients, who are in need of management consultants, use three basic channels  to find the right person. You know, because you have used them. First, you reach out to your network trying to locate a recommended management consultant by word-of-mouth. Second, you turn to staffing firms, hoping that the middle-man will find what they believe is the right fit for your needs. Third, you go to consulting houses that promise they have the correct professional with a strong background. How about something better?... How about having direct access to credentialed management consultants that can move your project forward efficiently? Are you ready to connect with the elite management consultants you need?

The Risk
When clients get management consultants selected by staffing firms and consulting houses, they take the chance of getting consultants who do not deliver what is expected. There is additional risk by using the middle-man. The gap between the client and the available management consultants inhibits direct interaction between the two parties. The client relies on the recruiting firm or the consulting house –the middle-man– to filter and select the consultant. The risk of getting a less-than-suitable consultant is greater than if the client and consultants interact directly.  The client ends up overpaying for management consultants and at the end of the day they feel under-delivered and dissatisfied.

The Unseen
Clients reach out to consulting firms and staffing firms because they have no visibility to the consultant marketplace and they have no access to a wide array of industries and disciplines. They depend on middle-men to find management consultants, who may or may not have the specialized expertise in the  functions, industries and disciplines needed. How about gaining access to the previously unseen market of management consultants, with direct transparency to their recommendations, ratings, and credentials? How about deciding on who qualifies for the job based on your own criteria?

Locating the Qualified
MyNextConsultant is the web-based community that puts an end to the above challenges and enables you to work directly with qualified and credentialed management consultants. Get direct access to high-quality management consultants without the middle-man. Quickly and easily narrow your search down to a short list of qualified management consultants by selecting from different industries, functions, and disciplines.

Find A Management Consultant

Seeing the Unseen
One of the key benefits of MyNextConsultant is that it provides clients access to an entire market of consultants who have always been there, but, until now, were not easily  found. Clients have privacy,  with the ability to preview consultant credentials anonymously until they choose to connect with the consultant they find works for them. With MyNextConsultant, clients have clear insight to the management consultant’s capabilities that meet the  requirements of the project and gain a first-hand understanding of the consultant’s qualifications.  

A Win-win
By using MyNextConsultant, clients connect directly with management consultants, reducing the risk of a mismatch and increasing the success rate of the work to be done –a win-win situation.  Through direct connections, the client eliminates the egregious overhead of the middle-man staffing agencies and consulting houses that is inevitably passed on to them or extracted from the management consultant –a win for everyone.

Key Takeaways to Management Consultants: Anybody Here:

  • MyNextConsultant enables you to work directly with qualified and credentialed management consultants
  • MyNextConsultant allows you to preview consultant credentials anonymously until you choose to connect with the consultant they feel like working with
  • MyNextConsultant reduces the risk of mismatch and increases the success rate of the work to be done


About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

 

The Unseen Market of Management Consultants

Are you looking for management consultants with industry background and knowledge to tackle difficulties and provide solutions? In your effort to augment your talent pool for a special project, you reach out to your networks hoping to find quality referrals, then you reach out to consulting firms and staffing firms. You find yourself poring through resumes hoping to find the right consultant. Even with the high rates, you are not getting the level of expertise you require. The management consultants recommended are from a limited pool of candidates to whom you have no access and who you are unable to qualify.  Isn’t it time you have access to the unseen market of management consultants and work directly with the ones you need and are qualified?

The first thing most clients do is spin through their Rolodex (literally or mentally) trying to locate a known management consultant. They hope to track down professionals with knowledge and industry background to solve their specific need. When they come up short, they turn to staffing agencies and consulting firms, middle-men whose incentive is to maximize billable hours. Lastly, in an effort to fulfill the position they scatter through stacks of resumes unable to see the fact from fiction.  

Sourcing from staffing agencies and consulting houses is a common practice because  it is what has been done for the last 35+ years and,  until recently, viable alternatives were not available.  However, there are costs to the conveniences of simply picking up the phone as you would to order a pizza. Staffing firms have a great overhead to cover, overhead that is passed on to the client through marked up rates. The inflated rates create a greater disparity between what is paid and the quality of consultant –bringing into question the value of these heavily staffed 1980’s models.  

Find A Management Consultant

In an effort to save time and resources, clients depend on the subjective judgment of the middle-men who don’t have the time to understand the consultants’ true capabilities or  the needs of the project and, therefore, will not supply the optimal consultant –one who delivers to your satisfaction.  As a result, they often provide people that do not fit or that lack the experience you really need.

How do you gain direct access to an unseen pool of qualified management consultants? How do you obtain transparency to the recommendations and qualifications of consultants? How do you ensure visibility to the consultant marketplace and to a wide array of industries and disciplines? MyNextConsultant connects clients directly with elite, credentialed management consultants, who have specialized expertise in several functions, industries and disciplines. We offer our clients access to a previously unseen market of management consultants with direct transparency to their recommendations, ratings, and credentials for you to decide who qualifies for the job. No more hidden costs. MyNextConsultant offers you the credentialed management consultants you are looking for –fast, easy, effective.

Key Takeaways to The Unseen Market of Management Consultants:

  • MyNextConsultant offers direct access to an unseen pool of qualified management consultants
  • MyNextConsultant provides transparency to the recommendations and qualifications of consultants
  • MyNextConsultant eliminates the hidden costs and egregious fees of staffing firms

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Are you looking for management consultants with industry background and knowledge to tackle difficulties and provide solutions? In your effort to augment your talent pool for a special project, you reach out to your networks hoping to find quality referrals, then you reach out to consulting firms and staffing firms. You find yourself poring through resumes hoping to find the right consultant. Even with the high rates, you are not getting the level of expertise you require. The management consultants recommended are from a limited pool of candidates to whom you have no access and who you are unable to qualify.  Isn’t it time you have access to the unseen market of management consultants and work directly with the ones you need and are qualified?

The first thing most clients do is spin through their Rolodex (literally or mentally) trying to locate a known management consultant. They hope to track down professionals with knowledge and industry background to solve their specific need. When they come up short, they turn to staffing agencies and consulting firms, middle-men whose incentive is to maximize billable hours. Lastly, in an effort to fulfill the position they scatter through stacks of resumes unable to see the fact from fiction.  

Sourcing from staffing agencies and consulting houses is a common practice because  it is what has been done for the last 35+ years and,  until recently, viable alternatives were not available.  However, there are costs to the conveniences of simply picking up the phone as you would to order a pizza. Staffing firms have a great overhead to cover, overhead that is passed on to the client through marked up rates. The inflated rates create a greater disparity between what is paid and the quality of consultant –bringing into question the value of these heavily staffed 1980’s models.  

Find A Management Consultant

In an effort to save time and resources, clients depend on the subjective judgment of the middle-men who don’t have the time to understand the consultants’ true capabilities or  the needs of the project and, therefore, will not supply the optimal consultant –one who delivers to your satisfaction.  As a result, they often provide people that do not fit or that lack the experience you really need.

How do you gain direct access to an unseen pool of qualified management consultants? How do you obtain transparency to the recommendations and qualifications of consultants? How do you ensure visibility to the consultant marketplace and to a wide array of industries and disciplines? MyNextConsultant connects clients directly with elite, credentialed management consultants, who have specialized expertise in several functions, industries and disciplines. We offer our clients access to a previously unseen market of management consultants with direct transparency to their recommendations, ratings, and credentials for you to decide who qualifies for the job. No more hidden costs. MyNextConsultant offers you the credentialed management consultants you are looking for –fast, easy, effective.

Key Takeaways to The Unseen Market of Management Consultants:

  • MyNextConsultant offers direct access to an unseen pool of qualified management consultants
  • MyNextConsultant provides transparency to the recommendations and qualifications of consultants
  • MyNextConsultant eliminates the hidden costs and egregious fees of staffing firms

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

Are you looking for management consultants with industry background and knowledge to tackle difficulties and provide solutions? In your effort to augment your talent pool for a special project, you reach out to your networks hoping to find quality referrals, then you reach out to consulting firms and staffing firms. You find yourself poring through resumes hoping to find the right consultant. Even with the high rates, you are not getting the level of expertise you require. The management consultants recommended are from a limited pool of candidates to whom you have no access and who you are unable to qualify.  Isn’t it time you have access to the unseen market of management consultants and work directly with the ones you need and are qualified?

The first thing most clients do is spin through their Rolodex (literally or mentally) trying to locate a known management consultant. They hope to track down professionals with knowledge and industry background to solve their specific need. When they come up short, they turn to staffing agencies and consulting firms, middle-men whose incentive is to maximize billable hours. Lastly, in an effort to fulfill the position they scatter through stacks of resumes unable to see the fact from fiction.  

Sourcing from staffing agencies and consulting houses is a common practice because  it is what has been done for the last 35+ years and,  until recently, viable alternatives were not available.  However, there are costs to the conveniences of simply picking up the phone as you would to order a pizza. Staffing firms have a great overhead to cover, overhead that is passed on to the client through marked up rates. The inflated rates create a greater disparity between what is paid and the quality of consultant –bringing into question the value of these heavily staffed 1980’s models.  

Find A Management Consultant

In an effort to save time and resources, clients depend on the subjective judgment of the middle-men who don’t have the time to understand the consultants’ true capabilities or  the needs of the project and, therefore, will not supply the optimal consultant –one who delivers to your satisfaction.  As a result, they often provide people that do not fit or that lack the experience you really need.

How do you gain direct access to an unseen pool of qualified management consultants? How do you obtain transparency to the recommendations and qualifications of consultants? How do you ensure visibility to the consultant marketplace and to a wide array of industries and disciplines? MyNextConsultant connects clients directly with elite, credentialed management consultants, who have specialized expertise in several functions, industries and disciplines. We offer our clients access to a previously unseen market of management consultants with direct transparency to their recommendations, ratings, and credentials for you to decide who qualifies for the job. No more hidden costs. MyNextConsultant offers you the credentialed management consultants you are looking for –fast, easy, effective.

Key Takeaways to The Unseen Market of Management Consultants:

  • MyNextConsultant offers direct access to an unseen pool of qualified management consultants
  • MyNextConsultant provides transparency to the recommendations and qualifications of consultants
  • MyNextConsultant eliminates the hidden costs and egregious fees of staffing firms

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

What is Business Development Costing You?

You became an independent management consultant because you enjoy the services you deliver and because of the confidence you have in the value you bring to clients.  However, you underestimated the business development required to keep work coming in.  Referrals, networking, sales calls, presentations, marketing, and social media are just some of the things that a management consultant needs to act on to drive a steady flow of business. How do you find new prospects? How do you connect/reach out to them? How do you get a steady stream of work? Are you driving your business development or are you waiting for business to come to you? Yes, business development has costs.  It can become a large time sink that drives the boom-bust cycles of smaller practices that lack dedicated business development staff.  If the independent is busy with business development activities, they are not working a billable project and, thus, no income –a cost that cannot be tolerated for long.

Shouldn’t it Be Easier?
How many times have you reached out to your personal closed network in your attempt to land a new project? What happens when you maximize your efforts and exhaust those circles?  Until now, you have had no mechanism to reach the larger market without sacrificing your independence.  Business development activities have typically focused on the limited channels of personal networks, professional groups, associations, and, more recently, LinkedIn –none of which serve well for connecting clients and consultants.  Furthermore, those channels provide no access to the hidden market of opportunities nor do they allow you to choose which projects best fit your goals.

Do Consulting and Staffing Firms Really Help Your Business Development?
Consultants have had little or no access to the hidden market of opportunities and have been compelled to work with consulting firms or staffing agencies, but this is costly in many ways. The obvious cost is the grossly reduced rates paid by these third parties. Consultants are short-changed by staffing firms and consulting houses as these firms retain from 30 to as much as 60 percent or more of the fees paid by the client. A couple of not-so-obvious costs include the arbitrary screening of your profile.  It is often unknown how the firm or agency really represents you. Who is advocating you as a management consultant in the market?  How much control do you have in how you are represented?  Another not-so-obvious cost is the fact that you are removed from the market for the duration in which you are on assignment with the agency or firm – you are no longer a free agent when worthy work does present itself.  This removal from the market and association with third parties reflects unfavorably on your desirability.   

Find A Management ConsultantThe New Business Development Engine
The recent development of web-based networks, like MyNextConsultant, has opened up a whole new and favorable alternative (for both clients and consultants) in the management consulting market.  Clients now have access to an entire market of highly skilled independent management consultants that were always there, but could not be found.  For consultants, they are a much needed business development channel.  

MyNextConsultant is designed to help small-practice management consultants develop business with no hurdles or barriers –it’s just you and the client!  With a strong profile that has well-written credentials and client references and ratings, clients can see you for who you really are and contact you directly –no arbitrary matches to a client that best favors the middle-man.  Nobody has the open model that MyNextConsultant has that allows clients to find the consultants they need and to directly connect when they choose to.

Key Takeaways to What Is Business Development Costing You:

  • MyNextConsultant allows management consultants to control how they are represented in the marketplace, without the fees of middle-men
  • With MyNextConsultant, you are able to market and feature yourself through a customized bio
  • MyNextConsultant offers exposure to the true client marketplace connecting management consultants with clients

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

You became an independent management consultant because you enjoy the services you deliver and because of the confidence you have in the value you bring to clients.  However, you underestimated the business development required to keep work coming in.  Referrals, networking, sales calls, presentations, marketing, and social media are just some of the things that a management consultant needs to act on to drive a steady flow of business. How do you find new prospects? How do you connect/reach out to them? How do you get a steady stream of work? Are you driving your business development or are you waiting for business to come to you? Yes, business development has costs.  It can become a large time sink that drives the boom-bust cycles of smaller practices that lack dedicated business development staff.  If the independent is busy with business development activities, they are not working a billable project and, thus, no income –a cost that cannot be tolerated for long.

Shouldn’t it Be Easier?
How many times have you reached out to your personal closed network in your attempt to land a new project? What happens when you maximize your efforts and exhaust those circles?  Until now, you have had no mechanism to reach the larger market without sacrificing your independence.  Business development activities have typically focused on the limited channels of personal networks, professional groups, associations, and, more recently, LinkedIn –none of which serve well for connecting clients and consultants.  Furthermore, those channels provide no access to the hidden market of opportunities nor do they allow you to choose which projects best fit your goals.

Do Consulting and Staffing Firms Really Help Your Business Development?
Consultants have had little or no access to the hidden market of opportunities and have been compelled to work with consulting firms or staffing agencies, but this is costly in many ways. The obvious cost is the grossly reduced rates paid by these third parties. Consultants are short-changed by staffing firms and consulting houses as these firms retain from 30 to as much as 60 percent or more of the fees paid by the client. A couple of not-so-obvious costs include the arbitrary screening of your profile.  It is often unknown how the firm or agency really represents you. Who is advocating you as a management consultant in the market?  How much control do you have in how you are represented?  Another not-so-obvious cost is the fact that you are removed from the market for the duration in which you are on assignment with the agency or firm – you are no longer a free agent when worthy work does present itself.  This removal from the market and association with third parties reflects unfavorably on your desirability.   

Find A Management ConsultantThe New Business Development Engine
The recent development of web-based networks, like MyNextConsultant, has opened up a whole new and favorable alternative (for both clients and consultants) in the management consulting market.  Clients now have access to an entire market of highly skilled independent management consultants that were always there, but could not be found.  For consultants, they are a much needed business development channel.  

MyNextConsultant is designed to help small-practice management consultants develop business with no hurdles or barriers –it’s just you and the client!  With a strong profile that has well-written credentials and client references and ratings, clients can see you for who you really are and contact you directly –no arbitrary matches to a client that best favors the middle-man.  Nobody has the open model that MyNextConsultant has that allows clients to find the consultants they need and to directly connect when they choose to.

Key Takeaways to What Is Business Development Costing You:

  • MyNextConsultant allows management consultants to control how they are represented in the marketplace, without the fees of middle-men
  • With MyNextConsultant, you are able to market and feature yourself through a customized bio
  • MyNextConsultant offers exposure to the true client marketplace connecting management consultants with clients

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

You became an independent management consultant because you enjoy the services you deliver and because of the confidence you have in the value you bring to clients.  However, you underestimated the business development required to keep work coming in.  Referrals, networking, sales calls, presentations, marketing, and social media are just some of the things that a management consultant needs to act on to drive a steady flow of business. How do you find new prospects? How do you connect/reach out to them? How do you get a steady stream of work? Are you driving your business development or are you waiting for business to come to you? Yes, business development has costs.  It can become a large time sink that drives the boom-bust cycles of smaller practices that lack dedicated business development staff.  If the independent is busy with business development activities, they are not working a billable project and, thus, no income –a cost that cannot be tolerated for long.

Shouldn’t it Be Easier?
How many times have you reached out to your personal closed network in your attempt to land a new project? What happens when you maximize your efforts and exhaust those circles?  Until now, you have had no mechanism to reach the larger market without sacrificing your independence.  Business development activities have typically focused on the limited channels of personal networks, professional groups, associations, and, more recently, LinkedIn –none of which serve well for connecting clients and consultants.  Furthermore, those channels provide no access to the hidden market of opportunities nor do they allow you to choose which projects best fit your goals.

Do Consulting and Staffing Firms Really Help Your Business Development?
Consultants have had little or no access to the hidden market of opportunities and have been compelled to work with consulting firms or staffing agencies, but this is costly in many ways. The obvious cost is the grossly reduced rates paid by these third parties. Consultants are short-changed by staffing firms and consulting houses as these firms retain from 30 to as much as 60 percent or more of the fees paid by the client. A couple of not-so-obvious costs include the arbitrary screening of your profile.  It is often unknown how the firm or agency really represents you. Who is advocating you as a management consultant in the market?  How much control do you have in how you are represented?  Another not-so-obvious cost is the fact that you are removed from the market for the duration in which you are on assignment with the agency or firm – you are no longer a free agent when worthy work does present itself.  This removal from the market and association with third parties reflects unfavorably on your desirability.   

Find A Management ConsultantThe New Business Development Engine
The recent development of web-based networks, like MyNextConsultant, has opened up a whole new and favorable alternative (for both clients and consultants) in the management consulting market.  Clients now have access to an entire market of highly skilled independent management consultants that were always there, but could not be found.  For consultants, they are a much needed business development channel.  

MyNextConsultant is designed to help small-practice management consultants develop business with no hurdles or barriers –it’s just you and the client!  With a strong profile that has well-written credentials and client references and ratings, clients can see you for who you really are and contact you directly –no arbitrary matches to a client that best favors the middle-man.  Nobody has the open model that MyNextConsultant has that allows clients to find the consultants they need and to directly connect when they choose to.

Key Takeaways to What Is Business Development Costing You:

  • MyNextConsultant allows management consultants to control how they are represented in the marketplace, without the fees of middle-men
  • With MyNextConsultant, you are able to market and feature yourself through a customized bio
  • MyNextConsultant offers exposure to the true client marketplace connecting management consultants with clients

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

What is MyNextConsultant?

In an effort to locate high-quality and experienced management consultants, clients reach out to consulting and staffing firms or to their network of referrals.  Clients are often challenged with pouring through resumes, meeting with many candidates, and working the staffing agencies before they find a  match for their needs. Meanwhile, consultants spend time away from revenue-producing activities to land the next job opportunity. Many independent consultants rely on middle-men to represent them to clients and negotiate their terms. MyNextConsultant is a web-based community that directly connects clients and consultants across a wide array of specialties and industries with speed, transparency, visibility and without the egregious fees of middle-men.    

Clients
MyNextConsultant is the web-based community that enables clients to connect directly with the consultant marketplace in order to locate high-level, outcome-driven management consultants. MyNextConsultant gives you direct access to our network of consultants, with profiles that are searchable and transparent without the middleman. Client membership, consultant searches, and posting RFPs are free.

Having deep knowledge of the management consultant world, we recognize that clients need to find qualified, high-caliber consultants easily and receive a better value for their consulting budget. We understand what it takes to locate outcome-driven and credentialed management consultants. MyNextConsultant simplifies the task of locating the professionals that best fit the clients’ specific needs without the usual hidden costs and fees.

Consultants
For consultants, MyNextConsultant allows you to take advantage of our free business development engine to market your capabilities and experience with only a small fee for new business won through MyNextConsultant. Break out beyond your personal networks with an individualized approach to marketing yourself. It’s simply you and the clients. No middle-man. MNC gives you the ability to list your profile, network with other consultants, as well as share and post your authored publications to give you exposure to a market that far exceeds your current network.

Find A Management Consultant

Business development takes away from a consultant’s day-to-day activities of providing services. We know, because we have been there. Your success is limited when you must rely on consulting and staffing firms to locate your next opportunity.  Furthermore, you give up control of how your capabilities and experiences are represented. MyNextConsultant was established to eliminate the arduous task of business development. You have full control to represent your capabilities and experiences to a wide range of clients that goes beyond your existing networks.

Easily Find Management Consultants
Hiring a management consultant? How many times have you looked at a resume trying to figure out a consultant’s experience and capabilities? How many times have you tried to find references for their work? It should not be so difficult.  MyNextConsultant allows you to filter and view the consultants’ experience and allows for clear references so that you know who you are working with. MyNextConsultant enables you to search for high-caliber management consultants and filter them by selecting the level of expertise you need (Expert, Strong, Limited) in the Disciplines, Industries, and Functions you choose.

Control How the Client Sees You
Ready to apply for a new management consultant position? Are you getting frustrated with your resume? Does it tell your full professional story? Are you trying to portray your experience and capabilities in a one-page resume? Frustrated with staffing firms where you are just another face? MyNextConsultant allows you to feature your experiences and capabilities with credentials written by you and with recommendations and ratings from your past clients that attract future clients and drive your business development.  You have control of how you are represented to the clients who will be viewing your credentials.

Key Take-Aways to What is MyNextConsultant:

  • MyNextConsultant is the web-based community that connects clients to hard-to-find experts and enables collaboration and networking between management consultants
  • MyNextConsultant allows direct access to the entire network, with profiles that are searchable and transparent
  • MyNextConsultant offers consultants a free business development engine to market their capabilities and experience, without middlemen
  • MyNextConsultant gives you transparency to consultants’ experiences and allows for clear references so that you know who you are working with
  • With MyNextConsultant, you control how your abilities are featured –in the best way possible– with recommendations and ratings from your past clients

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

In an effort to locate high-quality and experienced management consultants, clients reach out to consulting and staffing firms or to their network of referrals.  Clients are often challenged with pouring through resumes, meeting with many candidates, and working the staffing agencies before they find a  match for their needs. Meanwhile, consultants spend time away from revenue-producing activities to land the next job opportunity. Many independent consultants rely on middle-men to represent them to clients and negotiate their terms. MyNextConsultant is a web-based community that directly connects clients and consultants across a wide array of specialties and industries with speed, transparency, visibility and without the egregious fees of middle-men.    

Clients
MyNextConsultant is the web-based community that enables clients to connect directly with the consultant marketplace in order to locate high-level, outcome-driven management consultants. MyNextConsultant gives you direct access to our network of consultants, with profiles that are searchable and transparent without the middleman. Client membership, consultant searches, and posting RFPs are free.

Having deep knowledge of the management consultant world, we recognize that clients need to find qualified, high-caliber consultants easily and receive a better value for their consulting budget. We understand what it takes to locate outcome-driven and credentialed management consultants. MyNextConsultant simplifies the task of locating the professionals that best fit the clients’ specific needs without the usual hidden costs and fees.

Consultants
For consultants, MyNextConsultant allows you to take advantage of our free business development engine to market your capabilities and experience with only a small fee for new business won through MyNextConsultant. Break out beyond your personal networks with an individualized approach to marketing yourself. It’s simply you and the clients. No middle-man. MNC gives you the ability to list your profile, network with other consultants, as well as share and post your authored publications to give you exposure to a market that far exceeds your current network.

Find A Management Consultant

Business development takes away from a consultant’s day-to-day activities of providing services. We know, because we have been there. Your success is limited when you must rely on consulting and staffing firms to locate your next opportunity.  Furthermore, you give up control of how your capabilities and experiences are represented. MyNextConsultant was established to eliminate the arduous task of business development. You have full control to represent your capabilities and experiences to a wide range of clients that goes beyond your existing networks.

Easily Find Management Consultants
Hiring a management consultant? How many times have you looked at a resume trying to figure out a consultant’s experience and capabilities? How many times have you tried to find references for their work? It should not be so difficult.  MyNextConsultant allows you to filter and view the consultants’ experience and allows for clear references so that you know who you are working with. MyNextConsultant enables you to search for high-caliber management consultants and filter them by selecting the level of expertise you need (Expert, Strong, Limited) in the Disciplines, Industries, and Functions you choose.

Control How the Client Sees You
Ready to apply for a new management consultant position? Are you getting frustrated with your resume? Does it tell your full professional story? Are you trying to portray your experience and capabilities in a one-page resume? Frustrated with staffing firms where you are just another face? MyNextConsultant allows you to feature your experiences and capabilities with credentials written by you and with recommendations and ratings from your past clients that attract future clients and drive your business development.  You have control of how you are represented to the clients who will be viewing your credentials.

Key Take-Aways to What is MyNextConsultant:

  • MyNextConsultant is the web-based community that connects clients to hard-to-find experts and enables collaboration and networking between management consultants
  • MyNextConsultant allows direct access to the entire network, with profiles that are searchable and transparent
  • MyNextConsultant offers consultants a free business development engine to market their capabilities and experience, without middlemen
  • MyNextConsultant gives you transparency to consultants’ experiences and allows for clear references so that you know who you are working with
  • With MyNextConsultant, you control how your abilities are featured –in the best way possible– with recommendations and ratings from your past clients

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

In an effort to locate high-quality and experienced management consultants, clients reach out to consulting and staffing firms or to their network of referrals.  Clients are often challenged with pouring through resumes, meeting with many candidates, and working the staffing agencies before they find a  match for their needs. Meanwhile, consultants spend time away from revenue-producing activities to land the next job opportunity. Many independent consultants rely on middle-men to represent them to clients and negotiate their terms. MyNextConsultant is a web-based community that directly connects clients and consultants across a wide array of specialties and industries with speed, transparency, visibility and without the egregious fees of middle-men.    

Clients
MyNextConsultant is the web-based community that enables clients to connect directly with the consultant marketplace in order to locate high-level, outcome-driven management consultants. MyNextConsultant gives you direct access to our network of consultants, with profiles that are searchable and transparent without the middleman. Client membership, consultant searches, and posting RFPs are free.

Having deep knowledge of the management consultant world, we recognize that clients need to find qualified, high-caliber consultants easily and receive a better value for their consulting budget. We understand what it takes to locate outcome-driven and credentialed management consultants. MyNextConsultant simplifies the task of locating the professionals that best fit the clients’ specific needs without the usual hidden costs and fees.

Consultants
For consultants, MyNextConsultant allows you to take advantage of our free business development engine to market your capabilities and experience with only a small fee for new business won through MyNextConsultant. Break out beyond your personal networks with an individualized approach to marketing yourself. It’s simply you and the clients. No middle-man. MNC gives you the ability to list your profile, network with other consultants, as well as share and post your authored publications to give you exposure to a market that far exceeds your current network.

Find A Management Consultant

Business development takes away from a consultant’s day-to-day activities of providing services. We know, because we have been there. Your success is limited when you must rely on consulting and staffing firms to locate your next opportunity.  Furthermore, you give up control of how your capabilities and experiences are represented. MyNextConsultant was established to eliminate the arduous task of business development. You have full control to represent your capabilities and experiences to a wide range of clients that goes beyond your existing networks.

Easily Find Management Consultants
Hiring a management consultant? How many times have you looked at a resume trying to figure out a consultant’s experience and capabilities? How many times have you tried to find references for their work? It should not be so difficult.  MyNextConsultant allows you to filter and view the consultants’ experience and allows for clear references so that you know who you are working with. MyNextConsultant enables you to search for high-caliber management consultants and filter them by selecting the level of expertise you need (Expert, Strong, Limited) in the Disciplines, Industries, and Functions you choose.

Control How the Client Sees You
Ready to apply for a new management consultant position? Are you getting frustrated with your resume? Does it tell your full professional story? Are you trying to portray your experience and capabilities in a one-page resume? Frustrated with staffing firms where you are just another face? MyNextConsultant allows you to feature your experiences and capabilities with credentials written by you and with recommendations and ratings from your past clients that attract future clients and drive your business development.  You have control of how you are represented to the clients who will be viewing your credentials.

Key Take-Aways to What is MyNextConsultant:

  • MyNextConsultant is the web-based community that connects clients to hard-to-find experts and enables collaboration and networking between management consultants
  • MyNextConsultant allows direct access to the entire network, with profiles that are searchable and transparent
  • MyNextConsultant offers consultants a free business development engine to market their capabilities and experience, without middlemen
  • MyNextConsultant gives you transparency to consultants’ experiences and allows for clear references so that you know who you are working with
  • With MyNextConsultant, you control how your abilities are featured –in the best way possible– with recommendations and ratings from your past clients

About MyNextConsultant
MyNextConsultant is a web-based community connecting clients, who seek specialized expertise, directly with elite, credentialed management consultants who have the ability to solve problems, address skill gaps, and provide knowledge currently unavailable in their organization. Our clients find highly seasoned, outcome-driven management consultants across a wide array of specialties and industries. Our expert consultants want to be freed from the arduous task of business development, allowing them to do what they do best, while controlling how they are represented, without the fees of middle-men.

3 Steps to Set Your Billable Rate -Part 2

Calculate your cost-basis

The second element you should encounter is to know how much you need earn to sustain your life-style.  In other words, how much income do you need to cover expenses, savings, and taxes?

Don’t take this element for granted and don’t short-cut it ­–document your calculations.  Unlike a salaried job, there are multiple variables that ultimately determine your annual net income.  Documenting those variables will allow you to be more precise and critical of what your minimum rate needs to be.  Setting your minimum rate is important. Having confidence in your minimum rate is essential when negotiating for work proposed, whether you are proposing an hourly fee or on a project basis.  Let’s take a look at some assumptions and calculations to estimate your cost-basis rate.

First, estimate your number of billable days per year.  The table below includes the variables to consider in calculating your billable days.

Weeks

Days/Wk

Ttl Days/Yr

 

52

5

260

weekdays / yr

5

5

-25

vacation

 

 

-15

holidays

 

 

-25

days unbillable

39

5

195

billable days / yr

Vacation, holidays and days unbillable are variables you can adjust for yourself based on your personal preference and assumptions.  Modify the vacation and days unbillable numbers based on your personal situation.  Unbillable days (25 in this example) include days you will need for business development, maintaining your records and books, and gaps between jobs.   Holidays are usually out of your control and are set by the client’s company.  With this basic math, you should have a good estimate of the number of billable days in a year.   Remember, you can always come back to adjust your estimate.

Next, estimate your basic costs.  Those costs that are included in our worksheet are most associated with a W-2 employee –their salary, benefits, retirement savings, and taxes.  Since many independent consultants come out of a career where they are compensated by salaries and benefits, this approach allows for an easy comparison between the estimated net income from the worksheet and what their net pay was at the W-2 job.

Specifically, the worksheet deducts estimates for Medical Insurance, Life Insurance, Long Term Disability, Retirement IRA savings, and taxes  -Federal Tax, State Tax, Local Tax, and Federal OASDI/EE (Social Security).  The independent consultant takes on the full brunt of these costs.  The noticeable differences will be in the benefits and in the Social Security tax.  You will be paying the employer portion (7.5%) of social security tax as well as the employee portion (7.5%), for a total of 15% of all gross income up to $117,000 (in 2014).

Let’s take a look at an example.   Here are our assumptions for the billable days and hourly rate:

billable days / yr

195

Rate/Hr

 $   100.00

This example provides an estimated gross annual income of $156,000 (195 billable days x 8 hrs/day x $100 rate).

 

Next, let’s estimate our annual costs:

Medical Ins.

 $  15,000.00

 Life Ins.

 $  3,600.00

 Retirement IRA

 $  22,000.00

 LTD

 $  3,600.00

 Fed Tax

 $  23,400.00

 Fed Tax Rate

15%

 State Tax

 $  4,711.20

 Local Tax

 $  1,661.40

Social Security

 $  17,550.00

Our example is for a family of four.   Your numbers for insurance and savings may vary.   The Federal tax rate is an estimated effective rate, adjusted to account for deductions and reductions in income and may be different for you.

Now, let’s put it all together to estimate our net income:

Gross Annual Income

 

$  156,000.00

 Medical Ins.

 $  15,000.00

 

 Life Ins.

 $   3,600.00

 

 Retirement IRA

 $  22,000.00

 

 LTD

 $   3,600.00

 

Benefits Total

 

- $  44,200.00

 Fed Tax

 $  23,400.00

 

 Fed Tax Rate

15%

 

 State Tax

 $   4,711.20

 

 Local Tax

 $   1,661.40

 

Social Security

 $  17,550.00

 

 Tax Total

 

- $  47,322.60

 Net Annual Income

 

$  64,477.40

Our $156,000 gross annual income is quickly reduced to a net income of $64,477.  Furthermore, Net Annual Income as calculated here is still overstated, since it does not include costs of business, e.g., professional fees (attorney, accountant), liability insurance,  errors & omissions insurance, marketing, websites, education and training, and other costs associated with operating independently.  It is not uncommon for these costs to range from $5,000 - $10,000.   Some consultants spend more.

So, our $156,000 gross income puts only $50,000 – $60,000 net in the cookie jar to pay our living expenses.   Not what most people expect –and this is why it is so important to be deliberate and precise about estimating your rate from a cost-basis approach.

If you are interested in an Excel® workbook that calculates multiple rates based on the assumptions you input, send me an email with “Rate Worksheet” in the subject line and I will email it to you.

Keep your documentation and revisit it periodically to see if your assumptions are correct and to use in annual planning.   Use it to inform your business development efforts by targeting the number of billable days needed to reach your revenue goals.

----------------------------

This is part two of a three-part series.   Part three will cover the third element of setting your billable rate, "Know your competition."

3 Steps to Set Your Billable Rate is available in the articles section of mynextconsultant.com.

Tim Zuponcic is an owner and partner at MyNextConsultant.com.  You can reach him at  [email protected]

3 Steps to Set Your Billable Rate -Part 3

Know your competition

The third element you should undertake is to know your competitors and benchmark what they command for a rate.  Know who they are, what are their rates, and how their offerings compare to yours.

You don’t have to spend money in market research to come up with some reliable and directional information.  You need only to gather data points here and there.  Talk with other independent consultants about their rates.  Most will not have a problem sharing what are their hourly and daily rates.

Knowing who your competitor is goes beyond looking just at other independent consultants.  Your competitor is any alternative the customer has to get the work done.  This can include staffing companies.  Staffing companies take 40 – 70% of the hourly rate they charge a client for placing a consultant.  If a client is paying $200/hr, the consultant is seeing only $60 - $120/hr.   If your consultant friend is making $100/hr at the staffing agency, do the math.  If the staffing agency you talked with last week offered you $80/hr, do the math.

Also talk with clients.  They shouldn’t give you person- or company-specific information (and you don’t want them to), but they may provide some benchmarks on what they are paying consultants.

Knowing your competitor’s rates is important and is only relevant in light of your competitor’s value proposition.   Get familiar with their offerings and their value proposition.  Know their strengths and weaknesses.  For example, understand that the staffing company is providing additional services to both the client and the consultant.  On the other hand, the consultant that staffing company brought in and is paying $80/hr probably will not have the skills and experience of an independent consultant who commands a higher rate.

Independent consultants that are your competitors may have more extensive training or experiences in more diverse industries than you and, therefore, you may have to adjust your rate accordingly.  The converse is also true.  Your superior experience and skill could command a higher rate.

--------------------------------

Your effort to work through the second and third elements –your cost-basis and knowing your competition– simply informs you when you are leaving money on the table or when you will lose money.

The merit of working through all three fee pricing elements is to have a solid idea of your value in the market (your upper limits) and when to walk away (your lower limits) –and to know that everything in between is safe ground for you and your client.

3 Steps to Set Your Billable Rate is available in the articles section of mynextconsultant.com.

Tim Zuponcic is an owner and partner at MyNextConsultant.com.  You can reach him at  [email protected]

The Collaborative Independent

Collaboration amongst independents will markedly rise as technology produces better networks for working jointly. 

Collaboration will increase through “virtual alliances” as independents create virtual relationships with other independents and small practices.  These virtual alliances broaden offerings and increase capacity, presenting viable alternatives for the client.

A collaborative practice that is underdeveloped is the “independent managing partner.”  This individual, while maintaining their identity as an independent, is able to assemble a team of consultants for a given project, manage the team, contribute as a team member, and manage the project to delivery.  When finished with the project, the team can become available for a new phase or different client or morph into a different combination of independents.  This practice provides scalability and flexibility that is limited only by the available network of independents.

Virtual alliances and independent managing partners are placing independents in a part of the market that would otherwise be impossible, taking on larger, more complex projects.  Their virtual nature avoids the overhead that burdens traditional models. Their scalability, flexibility, and zero overhead create a value proposition that is destined to change the industry.  The efficiency of shedding management layers and brick-and-mortar will reflect in speed of delivery and more dollars spent on the client’s work.  Absent the overhead of traditional models, the pressure is off to be pre-occupied with selling the next job.

With the availability of web-based services to network the diverse and dispersed population of independent talent, virtual alliances and independent managing partners will become yet a new segment in the market.

The Elusive Independent

You wouldn’t know it, but there are tens of thousands of independent consultants in the United States.  In spite of this large segment, independents are difficult to find.  A scattered lot, independents have had no mechanism to reach the larger market without sacrificing their independence.  They have typically been found through the limited channels of personal networks, professional groups, associations, and, more recently, LinkedIn –none of which serve well for connecting clients and consultants or consultants and consultants. 

Historically, clients in need of a consultant have had few options outside the traditional models.  Consulting houses and staffing agencies have dominated, due in part to their roles as hubs of needed talent.

Until now, there lacked a network for sourcing independent consultants –one that serves both the client and the consultant in an open market to the benefit of both.

Web technology has enabled networks that can be leveraged by clients and consultants alike.   For clients, they are a source for talent that is not available elsewhere.  For consultants, they are a business development channel and a place where other independents can be found with whom to collaborate, thereby expanding their offerings.

Utilization of technology to create networks greatly increases the efficiency of organizing and making accessible consultant information.  It displaces the need for the high overhead of staffing agencies and consulting houses.  As demonstrated in other markets, having the right information available in a meaningful and efficient way allows the client to efficiently and directly source their needs and gain all the benefits thereof.

Through web-based networking solutions designed specifically for the client-consultant relationship, clients will have access to an entire market of independents that were always there, but could not be found.

3 Steps to Set Your Billable Rate -Part 1

Determining your billable rate can cause a certain level of anxiety for the self-employed consultant.  Rest assured, it doesn’t have to be a complicated task, nor does it have to break the bank.  With a little time and effort,  you can set your rate in much the same way as pricing is approached for other products and services.  You can determine your optimal rate by working through these three elements:

  • Assess your value 
  • Calculate your cost-basis
  • Know your competition

Considering the three elements will give you confidence in the fees you set, avoid hardship, and help make your consulting career enjoyable and rewarding.

Utilizing  the three elements provides data points that are used to triangulate a rate that meets your needs and that your clients will feel is commensurate with your value.

Assess your value

You became an independent consultant because of the confidence you have in what you bring to clients –some measure of value.  The first element you should asses is to know yourself –what is the client’s perception of your value?  Why will the client choose you over the alternatives they have in the market?  Be aware and ready to communicate the value you bring to the client.

Companies spend a lot of money to research and understand the relationship of alternatives in the market, perceived value, and price.  The good news is that you don’t have to spend gobs of money.  Emphasizing your higher value offerings with the client will help position you better in their mind.  The trick is to stay realistic about your offerings.  A common error is to deceive oneself in how valuable one is.

The more you understand the customer’s alternatives and the perceived value of those alternatives, the better you can position your own value.  In the consulting market, there are two variables that are in your sphere of influence which are drivers of decisions to buy – the customer’s perceived value of your offerings and their confidence in your ability to deliver.   Price tends to be elastic based on the confidence of a consultant to deliver. In the client’s mind, it is better to over-pay and be assured of success, than to save a few dollars and receive inferior deliverables.

In the end, it will come down to being able to articulate your value to the client.   Negotiating with them as to what the fee will be for a project, whether it is an hourly rate or a project-based quote, is secondary. 

--------------------------

This is part one of a three-part series.   Part two will cover the second element of setting your billable rate, "Calculate your cost-basis" and part three will cover the third element, "Know your competition."

3 Steps to Set Your Billable Rate is available in the articles section of mynextconsultant.com.

Tim Zuponcic is an owner and partner at MyNextConsultant.com.  You can reach him at  [email protected]