Jim Horan: Consulting is easy; Selling is Hard
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Revised slides from Jim Horan's January 28, 2011 presentation to the Bay Area Consultants Network (BACN) about how to create products from your consulting business
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Jim Horan: Consulting is easy; Selling is Hard
- 1. 1 Productizing your Consulting Practice...Profitably Jim Horan, President The One Page Business 2/10/2011 The One Page Business Plan Company Plan Company
- 2. 2 Consulting is easy… Selling is hard! The One Page Business 2/10/2011 Plan Company
- 3. 3 The One Page Business 2/10/2011 Plan Company Consultants want… • Opportunity to work • Be in the game of business • Interact with business people • Earn a livelihood • Grow professionally • Be a part of the community
- 4. 4 The One Page Business 2/10/2011 Plan Company Let’s make selling stress-free • Freely share information everywhere • Capture intellectual property in writing • Speak anywhere…everywhere • Become known as business resource • Create products
- 5. 5 The One Page Business 2/10/2011 Plan Company Why Consulting Products? • Easy & effective way to sample services • Creates opportunity for others to sell you • Build creditability • Reduces sales cycle • Leverage time – more income, less work • Larger, more profitable engagements
- 6. 6 The One Page Business 2/10/2011 Plan Company Many Consultants have Products… • Assessments • Games • Book(s) • CD Rom • Booklets • Workshops • Audiotape • Web Products • Software • and at higher rates.
- 7. It all started with a simple mockup 2/10/2011 The One Page Business Plan Company Page 7
- 8. I started speaking at small events 2/10/2011 The One Page Business Plan Company Page 8
- 9. Audiences asked if I had a book... ~ 2+ years later I did 2/10/2011 The One Page Business Plan Company Page 9
- 10. 10 Everyone said… The One Page Business Plan would make a great software product! The One Page Business 2/10/2011 Plan Company
- 11. Then I visualized an Organization Chart – on the Web 2/10/2011 The One Page Business Plan Company Page 11
- 12. Every manager has a plan ~ it’s just a click away 2/10/2011 The One Page Business Plan Company Page 12
- 13. Each Objective has a Scorecard 2/10/2011 The One Page Business Plan Company Page 13
- 14. 2/15/2001 Every 10/28/2000 Action Plan has a 11/30/2000 Progress 12/29/2000 Report 2/5/2001 2/10/2011 The One Page Business Plan Company Page 14
- 15. Tell the status of every plan at a glance 2/10/2011 The One Page Business Plan Company Page 15
- 16. 16 The One Page Business 2/10/2011 Plan Company It’s working…our results • Best-selling business planning book on Amazon.com most days • National consulting firm w/ 70+ consultants • 100+ companies using web system • Many colleges using book as text
- 17. 17 What’s your product? The One Page Business 2/10/2011 Plan Company
- 18. 18 Lessons Learned… The One Page Business 2/10/2011 Plan Company
- 19. 19 The One Page Business 2/10/2011 Plan Company Products Create Credibility! • Tangible…not just verbal • Authors are given special credence • Products make companies look bigger
- 20. 20 The One Page Business 2/10/2011 Plan Company Give others a way to give you money! Products provide a business model for others to pay you a royalty for the use of your processes.
- 21. 21 The One Page Business 2/10/2011 Plan Company Marketing 101a The market expects successful consultants to have products and will actually tell you which ones to create and what features they want! Listen!
- 22. 22 The One Page Business 2/10/2011 Plan Company Learn from others… Selling products can be very profitable. You can also lose money and waste a lot of billable time. Be mindful.
- 23. 23 The One Page Business 2/10/2011 Plan Company Listen for the WOWs! • Experiment • Ask for feedback. • Listen for the WOW’s • Act on the WOWs! • Clients will tell you when they are excited about a product or service
- 24. 24 The One Page Business 2/10/2011 Plan Company Go for the basehits! • Limit your investment! • Print in small quantities. • Almost nobody hits homeruns. • However lots hit singles
- 25. 25 The One Page Business 2/10/2011 Plan Company Business Development Key Question: Who can you partner with that already has customers that need your product?
- 26. 26 The One Page Business 2/10/2011 Plan Company Trademarks, Patents, Copyrights Protect your investment get a good intellectual property rights attorney
- 27. 27 The One Page Business 2/10/2011 Plan Company Be Smart…Learn from others! • Don’t try to do it all yourself. • Find the specialists who can help you create your books, tapes, & software. • Benefit from their mistakes!
- 28. 28 The One Page Business 2/10/2011 Plan Company Create revenue models where others make so much money from selling your product that they won’t build their own.
- 29. 29 The One Page Business 2/10/2011 Plan Company Consultants can create a great job selling services…but building a company with a future resell value requires products.
- 30. 30 The One Page Business 2/10/2011 Plan Company Final thoughts… • Enjoy the journey… • Build on your successes • Have fun! • Be patient…products take time