February, 2019

Guide to Value-Based Pricing for Consultants: 10 Experts Share Their Fee Strategies

Consulting Success

You, the consultant, want to earn more money in your consulting practice. You might be familiar with the principles of value-based pricing — but for whatever reason, you’re not applying the principles in your business.

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When You Feel like Complaining or Blaming…Take Action!

Peter Stark

I recently flew on a flight from San Diego to Atlanta. The person sitting next to me spent the first two hours of our flight complaining about his company, his boss, his direct reports, his peers and even his wife and kids.

CEO Oasis: Relief for “Loneliness at the Top”

Emerson Consulting Group

By Ken Lizotte CMC. As part of his ongoing column in Money Inc. It’s 8 PM and everyone has left the building except the guy at the top, Steve, CEO of a mid-size manufacturing firm. For months now, Steve has been struggling over cash-flow problems with no solution in sight. Coming up with each new payroll has been terrifying him more and more as each deadline demands yet another inventive solution for meeting that period’s payday.

A Two-Step Process for Raising Your Consulting Firm’s Rates

David A Fields

What do you think about raising your consulting firm’s fees 30% or 50% or 100% or more? Does a little voice in your head protest, “No way! No one’s going to pay <insert number> an hour for a consultant”? We’re going to name that little voice and give you an alternative.

Assessing the Five Styles of Enterprise Business Intelligence

The world of BI and analytics has evolved. Discover the five styles of reporting and analysis, and learn the pros and cons of each in an enterprise scenario.

YES, process AND purpose

Consultants Mind

The post YES, process AND purpose appeared first on Consultant's Mind. Consulting Projects

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How To Win Consulting Business Through Honest Conversations with Rob Kendall: Podcast #75

Consulting Success

“My one job here is to create enough value. Hopefully, they’ll ask me to stick around and do some more work.” That was the statement conversation expert Rob Kendall made about during the early days of his career. Rob’s biggest challenge was the way he communicated with people.

Bridge to BCG, McKinsey Insight, Bain AIC 2019 application deadlines

Management Consulted

Bridge to BCG, McKinsey Insight, Bain AIC Overview Attention Advanced Degree Candidates! Yes, that means you PhDs, JDs, and MDs – Bridge to BCG, McKinsey Insight, and Bain AIC application 2019 deadlines are now published! What are Bridge to BCG, … Continue Reading. The post Bridge to BCG, McKinsey Insight, Bain AIC 2019 application deadlines appeared first on Management Consulted. consulting news

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Planning in an agile organization

McKinsey

Agile organizations rely on an innovative mix of stable and dynamic elements to bring planning up to speed with their fast-paced needs. Digital Insights

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How to Know if You’re Successful at Consulting

David A Fields

How do you know if you’re doing well at the consulting game? Revenue? Client feedback? Those are okay metrics; however, if you look around your office you’ll find a better clue.

Proposal = Answered Questions

Consultants Mind

It’s the beginning of the year and firms are lining up their projects and consultants. Proposals and statements of work are getting written and signed. My students (management consulting class M 10-1pm) have a proposal-writing assignment due, here’s what I told them. Answer the client’s key questions Proposal outlines vary, but there are also commonalities. This […]. The post Proposal = Answered Questions appeared first on Consultant's Mind.

Lessons from Detroit: Three Reasons Why Your employees Resists Lean

Markovitz Consulting

In 2014, The Greening of Detroit (TGD), an environmental non-profit, was pushing hard to reforest the city after years of neglect. To their surprise, the tree planters faced stiff resistance—about 25% of the 7,500 homeowners they approached rejected the opportunity to have a free tree planted in front of their houses.

Insider Secrets To Working With Procurement As A Consultant with Philip Ideson: Podcast #77

Consulting Success

Procurement professionals struggle reputationally sometimes with a lot of folks in the business bypassing them, trying to avoid procurement.

Healthcare Industry — The Rise of Vertical Integration

Tom Spencer

In recent years, players in the healthcare industry have strived to create more effective systems in order to improve overall patient outcomes.

The productivity imperative for healthcare delivery in the United States

McKinsey

Healthcare is a key component of the US economy, but healthcare spending increases consistently outstrips GDP growth. Improving productivity in healthcare delivery could change this dynamic without harming patient care. Insights on Healthcare Systems & Services

Two Secrets to Delighting Your Consulting Clients

David A Fields

Your consulting firm’s clients are wired to notice certain things. That’s because they’re human. Let’s take advantage of that wiring to help your consulting firm win more projects and create happier clients. Consulting clients want results. That’s pretty obvious, right?

SOW: How detailed?

Consultants Mind

The post SOW: How detailed? appeared first on Consultant's Mind. Consulting Clients

The Perils of Internal Disruption (Part 5)

Markovitz Consulting

“Disruption” has become another business buzzword that obviates the need for prudent, careful thought and consideration. If something is “disruptive,” then it must by definition be good. But when it comes to internal operations at least, disruption is often both bad for business and for employees, because it causes unevenness in work. Last week , I wrote about how kaizen events can disrupt daily operations and overburden employees.

Self-Publishing Books To Get Consulting Clients with Tom Asacker: Podcast #73

Consulting Success

In the consulting and coaching business, unless you’re going to scale it by hiring hundreds of employees, there isn’t this fear that the marketplace grabs this idea that you have and you start printing cash. That’s what happened with the two businesses Tom Asacker was in.

The Story of The Drunk Marketing Letter

The More Clients Blog

Ever since I can remember, I’ve enjoyed reading funny stuff. As a kid, we subscribed to the Reader’s Digest. And I would always go through and read the jokes in the funny sections: Laugher is the Best Medicine, Humor in Uniform, and Criminals are Funny. And a million years later we still get Reader’s Digest and I continue to read those sections. It’s a sickness. OK, I admit it, my name is Robert and I’m a laughaholic. I love to laugh.

Competitive advantage with a human dimension: From lifelong learning to lifelong employability

McKinsey

As AI-enabled automation advances, organizations should embrace “lifelong employability,” which stretches traditional notions of learning and development and can inspire workers to adapt, more routinely, to the evolving economy. Future of Work

A Common Problem for Consulting Firm Rainmakers is Easy to Fix

David A Fields

Mentally transport yourself back in time 50 years to Princeton, New Jersey; a sleepy, college town that’s fertile ground for consulting firms. It’s easy to imagine yourself and a few colleagues walking off a satisfying, business lunch along the town’s shopping district.

Proposal: Questions to answer

Consultants Mind

It’s the beginning of the year, and firms are lining up their projects and consultants. Also, the students in my management consulting class have a proposal-writing assignment due on Monday. Here’s some of my high-level directions: Think like the client Proposal outlines vary, but you probably want to be answering these kinds of questions. […]. The post Proposal: Questions to answer appeared first on Consultant's Mind. Consulting

Lessons from Detroit: Three (More) Reasons Why Your Lean Efforts Fail

Markovitz Consulting

In 2014, The Greening of Detroit (TGD), an environmental non-profit, was pushing hard to reforest the city after years of neglect. To their surprise, the tree planters faced stiff resistance—about 25% of the 7,500 homeowners they approached rejected the opportunity to have a free tree planted in front of their houses.

Leadership Consulting Interview with Nick Craig: Podcast #76

Consulting Success

When you get a good client and it’s a big engagement which is going to go on for a while, what happens is that your ability to deliver as well as run the business starts to eat away at you. At some point, you realize that you’re going to have to include other people in the game.

Picking Among Consulting Offers

Tom Spencer

When fortunate enough to have more than one consulting offer, a common sentiment is to go for the firm that is more prestigious or pays the most (oftentimes those go hand and hand). However, I always recommend that anyone who gets more than one consulting offer should think beyond prestige and pay.

When governments turn to AI: Algorithms, trade-offs, and trust

McKinsey

Artificial intelligence can help government agencies solve complex public-sector problems. For those that are new at it, here are five factors that can affect the benefits and risks. Public Sector Insights

Why It's Difficult to "Find" Your Passion

CaseInterview.com

Last week, I held office hours for members of my Inner Circle mentorship program. One of my members asked me for a process she could use to “find” her passion. She was having difficulty figuring it out and was looking for help. Some people are fortunate to figure out their passions early in life. My oldest daughter, now a teenager, loves animals. She raises 25 fish, six chickens, two guinea pigs, one frog, and one dog. She’s been like this since she was three years old.

MECE Framework: Case Interview Example

Management Consulted

The Mutually Exhaustive Collectively Exhaustive (MECE) framework is an important problem structuring principle that consultants use to organize data efficiently and comprehensively. In this article, we will cover how to utilize MECE in a case interview setting. To watch a video … Continue Reading. The post MECE Framework: Case Interview Example appeared first on Management Consulted. Case Interview case interviews consulting interviews

Disruption in consulting—still on the cards?

The Source

In the five years since the Harvard Business Review published its article, Consulting on the Cusp of Disruption, the term “disruption” has continually been on consultants’ lips.

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Mastering Non-Profit Consulting with Douglas Nelson: Podcast #74

Consulting Success

Bringing a wealth of experience and expertise to how you can master non-profit consulting is Douglas Nelson, managing director for the Discovery Group.

Importance of CRM Systems for Modern Businesses

Tom Spencer

The modern day organisation faces a major concern that its predecessors did not: massive, widespread globalisation.

The ethics of artificial intelligence

McKinsey

In this episode of the McKinsey Podcast, Simon London speaks with MGI partner Michael Chui and McKinsey partner Chris Wigley about how companies can ethically deploy artificial intelligence. Artificial Intelligence

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Delusions vs. Goals

CaseInterview.com

One of my former bosses had a great quote that I really like. The difference between a goal and a delusion is the deadline.”. That resonated with me. I’ve since modified it slightly to read as follows: “The difference between a goal and a delusion is the existence of a plan.”.