October, 2023

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Figuring Out Your Billing Rate as an Independent Consultant

Successful Independent Consulting

Photo 2930678 | Rate © Shirley Hu | Dreamstime.com Too many solopreneurs undercharge for their expertise. They don’t know to add a hefty margin to cover things like self-employment tax, business expenses, health insurance, and nonbillable time spent on business administration. Or they haven’t raised their rates consistently over time, or they haven’t switched to a fixed fee.

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5 Notes to Ensure Your Consulting Firm’s Recommendations Resonate

David A Fields

When your consulting firm delivers recommendations well, your clients appreciate your work and compliment you. When your recommendations are delivered with the nuance and power of a John Williams score (e.g., Star Wars, ET, Harry Potter, Jaws, etc.), your clients love your work, their trust in your consulting firm blossoms, they find more ways to … Continued The post 5 Notes to Ensure Your Consulting Firm’s Recommendations Resonate appeared first on David A.

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The Consultancy Edge: Leveraging Positioning to Attract Premium Clients & Opportunities

Consulting Success

In the world of entrepreneurial consulting, standing out is not just a luxury—it’s a necessity. Boutique consultancy firms, with their nimbleness and specialized expertise, have a unique advantage. Yet, many struggle to attract the right clients. The key? Positioning. By differentiating yourself in the market, you can attract better-fit clients and unlock unparalleled opportunities.

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Proven Pricing Strategies That Boost Your Close Rates And Fees

Consulting Matters

Pricing. It’s the dreaded task of figuring out what to charge that overwhelms even the most seasoned consulting and coaching business owner. What’s also confusing is how to PRESENT those fees in a way that is attractive to a client … without the “ick” of coming across as too salesy. Can you relate? In today’s episode, I go into the psychology of 7 proven pricing strategies and why they work.

Strategy 156
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PowerPoint Best Practices for Creating Stellar Presentations

Mastering data visualization in PowerPoint will help accelerate your career because it positions you as someone who can present data that drives business decisions forward. think-cell's PowerPoint Best Practices eBook was created specifically for professionals aiming to master the art and science of data-driven storytelling. What’s inside: Practical Insights: Uncover valuable tips for crafting engaging and persuasive presentations.

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Oh No! Is the Hidden DK Effect Hurting Your Consulting Firm?

David A Fields

Watching the Dunning-Krueger Effect in action can range from amusing to frustrating to downright frightening. The impact on your consulting firm is very real because it affects your target market and also your consulting team (including you). What is the Dunning-Krueger Effect? Your ten year-old, having watched you drive from their car seat, and with … Continued The post Oh No!

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Want Both Efficiency and Effectiveness? Lower WIP and Right-Size Work

Johanna Rothman

Several of my trusted advisor clients have asked this question, “Why do I need to choose between effectiveness and efficiency? Why can't I have both?” A great question. I recommend they start with effectiveness. That occurs when they say yes to just the work they need now, to reduce the organizational WIP. Start with managing the project portfolio.

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Hidden Heroes: Business Operations in Companies of All Sizes

Tom Spencer

Business operations teams play a critical role in the success and growth of both big companies and small startups. While the specific responsibilities may vary based on the organization’s size, industry, and structure, these teams are generally responsible for various functions aimed at optimizing operations, driving efficiency, and supporting strategic goals.

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The McKinsey Way Summary (Book Review For Consultants)

Consulting Success

How can you — the solo consultant or small consulting firm owner — consult like the most prestigious consulting firm in the world? In this article, we’ve broken down the book The McKinsey Way to help you do exactly that. The McKinsey Way by Ethan Raisel (Background) McKinsey & Company is a consulting firm founded.

McKinsey 262
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The Anatomy of High-IMPACT Sales Pages and Proposals

Consulting Matters

Unsure how to convey the powerful value of your offers. Here’s what you need to know There’s a six-letter word that reflects one of the biggest reasons why accomplished, mid-career professionals would give up their secure, lucrative career to start their own consulting or coaching business. I’m referring to the word I-M-P-A-C-T because what drives us as consultants and coaches isn’t just money anymore.

Sales 156
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How to Stay Competitive in the Evolving State of Martech

Marketing technology is essential for B2B marketers to stay competitive in a rapidly changing digital landscape — and with 53% of marketers experiencing legacy technology issues and limitations, they’re researching innovations to expand and refine their technology stacks. To help practitioners keep up with the rapidly evolving martech landscape, this special report will discuss: How practitioners are integrating technologies and systems to encourage information-sharing between departments and pr

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Competing for Projects: Consulting Firm Dos and Don’ts

David A Fields

There are better (and worse) ways for your consulting firm to react when you find yourself facing competition for an important project. Sometimes your prospective clients make inexplicable decisions. For example, promoting Jimmy “Straight Line” Jameson to head of innovation, holding inter-departmental competitions on team unity day, and considering consulting firms other than yours for … Continued The post Competing for Projects: Consulting Firm Dos and Don’ts appeared fi

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Empower Your Project Team to Make Even Better Use of Technology

PM Alliance

Even if your latest project isn’t focused on technology, there are likely to be many aspects of various technologies that your team must master to achieve success. And this doesn’t just mean understanding project management software. The emphasis on modernization and digital transformation within most businesses today, coupled with the steady growth of SaaS and other software platforms to help fill those needs, means that project groups will increasingly rely on technology to carry out many diff

Software 100
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How Consultants Enhance Website Quality and Results

Business Consulting Agency

In today’s digital age, a strong online presence is a cornerstone of business success. A well-crafted website serves as a powerful tool for engaging customers, driving sales, and building brand credibility. To maximize the quality and results of their websites, many companies turn to consulting services for expert guidance. Here, we will explore the myriad benefits of working with website consulting services and how they help businesses achieve online excellence.

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Bank Valuation: Understanding Key Ratios and Metrics

Tom Spencer

In the previous article , we looked at how banks make money and how they must meet capital requirements. In this article, we will explore the importance of profitability ratios and valuation metrics that are crucial when analyzing banks. There are seven key profitability ratios and two valuation metrics that it is important to understand. We will examine each in turn. 1.

Metrics 88
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Savings Consultants Are Needed in Today's Market More Than Ever

Savings Consultants are needed in today’s market more than ever. With an increase in expenses, businesses are looking for opportunities to save. Often unknown to businesses are savings in expense reduction, specialized tax savings, specialized savings including medical underpayments, health benefits cost reduction, zero cost processing, and more. Blue Coast Savings, with over 20 years in business, assists Savings Consultants in helping these companies move toward more profitable businesses.

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Creating A “Job” Versus A True Consulting Business With Tony Velasquez: Podcast #310

Consulting Success

What makes you stand out from any other consulting businesses? How can you increase the value of your business? In this episode, Tony Velasquez, the CEO of Angelus Advisors, brings his wisdom on what makes a true consulting business and how consultants can build one instead of simply creating a job for themselves. He delves.

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Mistakes Consultants Make With Offers

Consulting Matters

Are your consultancy or coaching offers falling flat? Could you be making critical mistakes without even realizing it? Prepare to unearth the art and science of developing alluring offers for your consulting and coaching business, a transformative skill that could be the game-changer you need. This episode promises to shed light on the distinct differences between products, services, and offers, and why sharpening your focus on offers can be a business-altering move.

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Hire/Subcontract Better [Consulting Firm Delegation Checklist]

David A Fields

Delegating consulting projects to new hires and subcontractors is prone to high levels of failure and frustration. The checklist below will help you deploy new resources better. You’ve won a big forecasting engagement from Mercator Projections, Inc. (hooray). However, since your consulting firm’s current capacity is insufficient to deliver the Mercator Projections projections project, you … Continued The post Hire/Subcontract Better [Consulting Firm Delegation Checklist] appeared first on

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How WIP Insights Allow Us to Revisit Brooks’ Law About Adding People to a Team

Johanna Rothman

Several people on LinkedIn commented on my post, Want Better and Faster Results? Increase Team Size and Reduce WIP. They wondered if adding more people to a small team would violate Brooks' Law. As with all good questions, the answer is “It depends.” It depends on how your lifecycle manages feedback loops and learning, how collaborative the team is, and how much WIP the team has.

Agile 94
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TOOLS and METHODOLOGIES for developing DECISION SUPPORT PACKAGES

This White Paper targets opportunities for Management to develop proficiency in the Decision Framing and Analyses element of input to Decision, & Risk Analyses for Major Project Funding Decisions.

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Help Your Employees Develop the Skills They Really Need

Harvard Business

The future of work will not be determined by technology, but by creating the right mix of education, exposure, and experience needed to develop skills and put them to work, creating a vastly more productive workplace and economy. In this article, the authors recommend a “70/20/10” learning model, in which only 10% of learning comes from formal instruction (education), 20% from social learning or mentorship (exposure), and 70% from hands-on, experiential practice with feedback (experience).

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Bank Profitability: Decoding the Income Statement

Tom Spencer

How do banks make money? Where does this money ultimately go? What is a bank really worth? In this 2-part series, we will address these questions. Firstly, by outlining the major items on a bank’s income statement, and then by discussing key ratios that are commonly used to measure profitability and to estimate the market value for banks. Bank’s Income Statement It’s important to note that banks have diverse product offerings and client types, and the reporting of business lines such as re

Banking 88
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Stay Ahead in Consulting: Embracing the Fractional Services Model with Kenny Goldman: Podcast #311

Consulting Success

Are you looking to scale your consulting business? This episode will deliver that to you! Today, Kenny Goldman, the co-founder and CEO of Kicksaw, discusses how consulting businesses can elevate their practice through the Fractional Services Model. Kenny also brings insights on strategically determining optimal time and innovative technology and systems.

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Why Your Employees Aren't Committed to Your Company Strategy

Organizational Talent Consulting

Great leaders dream of a better future – from business sustainability to growing future leaders, increasing speed to market, or operating with greater purpose. To turn those dreams into workplace realities, leaders set strategies. Unfortunately, many organizations keep strategic plans a secret and don't involve leaders outside the executive leadership team.

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Why You Need to Use Case Studies in Sales and Marketing (and How to Start Now)

Case studies are proof of successful client relations and a verifiable product or service. They persuade buyers by highlighting your customers' experiences with your company and its solution. In sales, case studies are crucial pieces of content that can be tailored to prospects' pain points and used throughout the buyer's journey. In marketing, case studies are versatile assets for generating business, providing reusable elements for ad and social media content, website material, and marketing c

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9 Tips to Improve your Active Listening Skills

Office Skills

Why Should You Listen? Having good active listening skills is one of the most important soft skills that you can possess in business as companies love to hire employees who […] The post 9 Tips to Improve your Active Listening Skills appeared first on Office Skills Training.

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60 Seconds of WIP, October 5, 2023

Johanna Rothman

My weekly 60 seconds of WIP: This one is also from the project lifecycles book. The post 60 Seconds of WIP, October 5, 2023 appeared first on Johanna Rothman, Management Consultant.

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5 Types of Manipulators at Work

Harvard Business

Lots of variables influence our day-to-day decision making — though perhaps none more potently than the attitudes and preferences of other people. The human instinct to seek belonging with others helps us collaborate and build systems and societies. But it also gives ill-intentioned people an opening to mislead, lull, and even coerce us into serving their interests instead of our own.

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Technology Apps: A Quick Guide to No-Code/Low-Code Solutions

Tom Spencer

In today’s fast-paced world, technology apps have become a go-to solution for many problems. Whether you’re a business owner, an entrepreneur, or an individual with a specific need, creating your own app can be a game-changer. Thanks to the rise of no-code and low-code development platforms, you don’t have to be an expert programmer to […] The post Technology Apps: A Quick Guide to No-Code/Low-Code Solutions first appeared on Tom Spencer.

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The Art of Remote Collaboration: How to Successfully Whiteboard with Remote Teams

Just because we're working with a distributed team doesn't mean we have to abandon time-tested tools and methods like whiteboarding. Digital look-alikes often cramp creativity and all but eliminate the humanity of shared interactions. Hardware solutions are also limiting and, of course, expensive and immobile. In an increasingly digital and remote-first world, it’s important for us to select tools and processes that allow us to mitigate if not eliminate the above problems.