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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5 Ways You Can Win Faster with Gen AI in Sales

Incorporating generative AI (gen AI) into your sales process can speed up your wins through improved efficiency, personalized customer interactions, and better informed decision- making. Gen AI is a game changer for busy salespeople and can reduce time-consuming tasks, such as customer research, note-taking, and writing emails, and provide insightful data analysis and recommendations.

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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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10 Ways to Prove You’re a Strategic Thinker

Harvard Business

To get ahead in the business world, it’s not enough to think stategically. You also have to effectively communicate those ideas. There are several ways to do this, including elevating the conversation to focus on the big picture and broader context, being forward-looking in your comments, anticipating the effects of potential decisions, connecting disparate concepts, simplifying complex issues, using metaphors and analogies, stimultating dialogue with questions, showing you are informed, activel

Strategy 101
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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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Less Stress, More Success: Accounting Best Practices & Processes for 2025

Speaker: Duke Heninger, Partner and Fractional CFO at Ampleo & Creator of CFO System

Are you ready to elevate your accounting processes for 2025? 🚀 Join us for an exclusive webinar led by Duke Heninger, a seasoned fractional CFO and CPA passionate about transforming back-office operations for finance teams. This session will cover critical best practices and process improvements tailored specifically for accounting professionals.

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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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From Silence to Action: A Collective Voice in Troubled Times

Chad Barr

Tonight, as I sit down to write this newsletter, my heart is heavy with a mix of dread and hope. Many of you know my background as an Israeli, a veteran, and a reservist of the Israel Defense Forces. I watch the unfolding events in my homeland, concerned for my family and friends and those who are reservists now called up for active duty. But this isn’t just my struggle; it’s a global one.

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How Project Managers Can Better Navigate Setbacks

Harvard Business

Setbacks are common on projects — but project managers hold four key tools to understand why they happen and how to help their teams move past them. First, understand the neuroscience behind setbacks to encourage people to learn and grow. Second, openly acknowledge that a setback has occurred to prevent backsliding. Third, adopt a growth mindset to help others strive for improvement instead of getting stuck on autopilot.

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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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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 95
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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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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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Project Managers, Unlock the Power of Timeboxing

Harvard Business

Modern work is inherently project-based and collaborative. We are all project managers to some extent. From film directors and restaurant owners to lawyers and accountants, many professions involve managing projects. For everyone, not just project managers, mastering timeboxing can be a gateway to bridging the gap between intention and execution. You’re probably already timeboxing, at least a little.

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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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Chris Hoff’s Guide for Consultants and Coaches Navigating Radical Change

Consulting Matters

Navigating the murky waters of transition can be an arduous voyage. The fear of the unknown often paralyzes us, causing us to retreat into familiar territories. As your host, I bring you a conversation with Dr. Chris Hoff, a man who boldly ventured into the unknown and emerged with a unique blend of business acumen and psychological insight. Chris, a former technology entrepreneur, shares his enlightening journey of metamorphosis - from a midlife crisis that led him to therapy, to eventually har

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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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Transforming from a Good to Great Coach

Rick Conlow

Transforming from a good to great coach equals turning disengaged employees into top performers. However, employees today are restless. They quiet quit, loud quit, quit without notice, and are more disengaged, and disloyal than ever. Furthermore, 70% will quit for a better offer. About 38% of quitters leave in about a year. And people 25-34 have a tenure of 2.8 years which is significantly lower than other age groups Have you noticed?

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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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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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How AI Can Help Leaders Make Better Decisions Under Pressure

Harvard Business

More and more businesses are turning to AI-powered technologies to help close the data-insight gap and improve their decision-making capabilities in time-critical, high-pressure situations. These technologies encompass a wide range of tools, including virtual assistants, virtual and augmented reality, process discovery, task mining, and an array of data analytics and business intelligence platforms.

Software 101
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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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Project Accounting Guide For Consultants & Consulting Firms

Consulting Success

Assessing project and/or client profitability is a common challenge for many consulting firms. And if you’re not doing it right (or at all) your engagements could start showing symptoms of overruns, timeline/cost issues, and unhappy stakeholders across the board. Project Accounting and other similar methodologies can provide the necessary insights to get your engagements under.

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When Positive Change Goes South

Makarios Consulting

Change is not easy. As a leader, you know that for a fact. Even change that is for the better is never “bump-free,” as we discussed in a previous blog. Of course, you expect unwelcome changes to be hard on people and prepare accordingly. But what about a change you assume will be received as good news but – to your complete surprise – is viewed as bad news?

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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.