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CONSULTING OVERVIEW
Sayed Ahmed
President/CEO/Chief Architect/Lead
Developer
Justetc (Just et cetera) Technologies
http://www.justetc.net
http://sayed.justetc.net
WHAT IS CONSULTING
 Just providing services or advices to other
businesses
 Not as an employee
 But as an independent person or as an
independent company
 All industries can have consultants
 IT, Management, Engineering
WHY CONSULTANTS ANYWAY?
 The need for personnel
 The need for fresh ideas
 Government regulations
 The need for maximum efficiency
 The need to diagnose problems and find
solutions
 The need to train employees
 The need for a complete turnaround
WHY CONSULTANTS ANYWAY?
 Company politics
 The need for increased sales
 The need for capital
HOW CONSULTANTS ARE ANALYZED
 Can he add something to the output
 Can he save time and money for the
company?
 Does he have the skills, can he do the job
 With the budget, can he accomplish the goal
WHAT MAKES AN OUTSTANDING CONSULTANT
 Beside manner
 The ability to diagnose problems
 The ability to find solutions
 Technical expertise and knowledge
 Communication skills
 Marketing and selling ability
 Management skills
HOW TO GET CLIENTS
 Direct mail
 Cold calls
 Direct response space advertising
 Directory listings
 Yellow pages listings
 Former employers
 Online marketing
 Networking with other professionals in the same
or different field
HOW TO GET CLIENTS
 Indirect methods of marketing
 Speaking before groups
 Sending out newsletters
 Joining and being active in professional
organizations
 Joining and being active in social organizations
 Writing articles
 Writing a book
 Writing letters to the editor
 Teaching a course
INDIRECT METHODS OF MARKETING
 Giving seminars
 Distributing publicity releases
 Exchanging information leads and referrals
with noncompeting consultants
MARKETING SEQUENCE
 Marketing to the government
 Locate potential clients
 Screen
 Visit and make presentations
 Maintain contact and gather intelligence
 Prepare the proposal
 Negotiate the contract
MAKE THE INITIAL INTERVIEW SUCCESSFUL
 Looking and acting like a professional
 Essential questions
 What problem needs solving
 Exactly what the client wants you to do
 How will you know if the objectives have been
met?
 Are there any particular sensitive issues that you
should watch out for?
 Main point of contact
 Any backup contacts
MAKE THE INITIAL INTERVIEW SUCCESSFUL
 What authority does each player have?
 Taking notes
 Holding off on giving advice
 Interpreting body language
 Making use of listening techniques
 Identifying emotions from facial expressions
WHAT TO DO WHEN THE INTERVIEW IS OVER
 If positive and offered the position
 Negotiate
 Rate
 Time
 Duration
 Vacation
 Health
 Leave business card
 Pay thanks
 Decide on request for proposal
PRICING YOUR SERVICES
 Low price strategy
 High price strategy
 Meet the competition price strategy
PRICING
 Other considerations
 Industry pricing
 Client price adjustment
CONSULTING RATE CALCULATION
 Yearly salary: $47,000, hourly $23.50 for 2000 hours
 Consulting overhead
 Clerical support - $5000
 Office rent -8000
 Telephone – 3400
 Automobile – 8000
 Insurance – 6000
 Marketing expense – 20,000
 Entertainment – 2000
 Professional dues and subscriptions – 1000
 Accounting and legal fees – 3000
 Miscellaneous – 2600
 Total Overhead: $59,000
 So you need to charge = $47,000 + $59,000 = $106,000
 $53.00 per hour
HOURLY RATE CALCULATION
METHODS OF BILLING
 Daily or hourly
 Working on retainer
 Performance billing
 Fixed price billing
 Consider the details
 Overestimate a bit
 Control costs closely
 Specify the requirements in detail
 Put the changes in writing
DISCLOSING THE FEE
 The client may like one particular method of
billing over others
 So determine your price in all possible ways
 Government wants full disclosure
CONSULTING CONTRACTS
 Why a contract is necessary
 To understand the terms clearly
 It will help you get paid
 You can develop your own contract
 Using the standard client contract
 Incurring a contractual agreement
 Formal contract
 The letter contract
 Order agreements
 Purchase orders
 Verbal contracts
TYPES OF CONTRACTS
 Fixed contracts
 Cost contracts
 Performance contracts
 Incentive contracts
 Elements of a contract
 Who: the consultant and client
 What: services?
 Where? Addresses of both parties. Where the services
will be provided
 When? When services to be performed and when paid
 How much: how much pay
ELEMENTS OF A CONTRACT
 Elements of a contract
 Competitive restrictions
 Patent rights
 Insurance coverage
 Confidentiality
PLANNING AND SCHEDULING THE PROJECT
 PERT Model
 Agile methodology
 Waterfall methodology
NEGOTIATING WITH YOUR CLIENT
 Six steps by government
 Evaluate and rank
 Identify offers within competitive range
 Eliminate unacceptable offers
 Written and oral discussions
 Notification of a cut off date
 Award the project
FOR SUCCESS
 Preparation: the key to all contract
negotiations
 Being wary of telephone negotiations
 The negotiation plan
NEGOTIATION GAMESMANSHIP
 Making the other party unreasonable
 Placing the other party on the defensive
 Blaming a third party
 The good guy and bad guy technique
 Straw issues
 The walkout
 The recess
 The time squeeze
HINTS FOR NEGOTIATION
 Use humor in tensed situations
 Do not insult anyone
 Do not try to make anyone bad
 Be reasonable
 Try to find the best for both parties
 Talk and listen
 Never assume that the other party is 100%
accurate
HINTS FOR NEGOTIATION
 Explain all the advantages that you are
offering
 If you are not prepared for a topic, defer it
 Accept a good offer
 You probably is in a very good situation and
the client may be in a very bad situation. So
work on getting what you deserve in the
market
HINTS FOR NEGOTIATION
 Fight for what are important to you; may give
up small advantages
SOLVING CLIENT PROBLEM
 Step by step
 Central problem
 Relevant factors
 Alternative courses of action
 Discussion and analysis of alternatives
 Conclusions
 recommendations
PSYCHOLOGICAL TECHNIQUES FOR PROBLEM SOLVING
 Psychological techniques for problem
solving.
 Why absent mind decides better sometimes
 No pressure
 Distractions
 False knowledge
 Use your subconscious to solve problems
IMPORTANCE OF ETIHCS IN CONSULTING
 Business ethics: not clear cut
 Typical ethical problems in consulting
 Client already knows the solution
 Client wants you to omit information from your
reports
 Client wants the proprietary information that you
learned in another place as employed
 Client wants you to lie to his boss
 Client wants you to bill for more or less hours
REFERENCES
 How to Make it Big as a Consultant: William
A. Cohen

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consulting-Syed.pdf

  • 1. CONSULTING OVERVIEW Sayed Ahmed President/CEO/Chief Architect/Lead Developer Justetc (Just et cetera) Technologies http://www.justetc.net http://sayed.justetc.net
  • 2. WHAT IS CONSULTING  Just providing services or advices to other businesses  Not as an employee  But as an independent person or as an independent company  All industries can have consultants  IT, Management, Engineering
  • 3. WHY CONSULTANTS ANYWAY?  The need for personnel  The need for fresh ideas  Government regulations  The need for maximum efficiency  The need to diagnose problems and find solutions  The need to train employees  The need for a complete turnaround
  • 4. WHY CONSULTANTS ANYWAY?  Company politics  The need for increased sales  The need for capital
  • 5. HOW CONSULTANTS ARE ANALYZED  Can he add something to the output  Can he save time and money for the company?  Does he have the skills, can he do the job  With the budget, can he accomplish the goal
  • 6. WHAT MAKES AN OUTSTANDING CONSULTANT  Beside manner  The ability to diagnose problems  The ability to find solutions  Technical expertise and knowledge  Communication skills  Marketing and selling ability  Management skills
  • 7. HOW TO GET CLIENTS  Direct mail  Cold calls  Direct response space advertising  Directory listings  Yellow pages listings  Former employers  Online marketing  Networking with other professionals in the same or different field
  • 8. HOW TO GET CLIENTS  Indirect methods of marketing  Speaking before groups  Sending out newsletters  Joining and being active in professional organizations  Joining and being active in social organizations  Writing articles  Writing a book  Writing letters to the editor  Teaching a course
  • 9. INDIRECT METHODS OF MARKETING  Giving seminars  Distributing publicity releases  Exchanging information leads and referrals with noncompeting consultants
  • 10. MARKETING SEQUENCE  Marketing to the government  Locate potential clients  Screen  Visit and make presentations  Maintain contact and gather intelligence  Prepare the proposal  Negotiate the contract
  • 11. MAKE THE INITIAL INTERVIEW SUCCESSFUL  Looking and acting like a professional  Essential questions  What problem needs solving  Exactly what the client wants you to do  How will you know if the objectives have been met?  Are there any particular sensitive issues that you should watch out for?  Main point of contact  Any backup contacts
  • 12. MAKE THE INITIAL INTERVIEW SUCCESSFUL  What authority does each player have?  Taking notes  Holding off on giving advice  Interpreting body language  Making use of listening techniques  Identifying emotions from facial expressions
  • 13. WHAT TO DO WHEN THE INTERVIEW IS OVER  If positive and offered the position  Negotiate  Rate  Time  Duration  Vacation  Health  Leave business card  Pay thanks  Decide on request for proposal
  • 14. PRICING YOUR SERVICES  Low price strategy  High price strategy  Meet the competition price strategy
  • 15. PRICING  Other considerations  Industry pricing  Client price adjustment
  • 16. CONSULTING RATE CALCULATION  Yearly salary: $47,000, hourly $23.50 for 2000 hours  Consulting overhead  Clerical support - $5000  Office rent -8000  Telephone – 3400  Automobile – 8000  Insurance – 6000  Marketing expense – 20,000  Entertainment – 2000  Professional dues and subscriptions – 1000  Accounting and legal fees – 3000  Miscellaneous – 2600  Total Overhead: $59,000  So you need to charge = $47,000 + $59,000 = $106,000  $53.00 per hour
  • 18. METHODS OF BILLING  Daily or hourly  Working on retainer  Performance billing  Fixed price billing  Consider the details  Overestimate a bit  Control costs closely  Specify the requirements in detail  Put the changes in writing
  • 19. DISCLOSING THE FEE  The client may like one particular method of billing over others  So determine your price in all possible ways  Government wants full disclosure
  • 20. CONSULTING CONTRACTS  Why a contract is necessary  To understand the terms clearly  It will help you get paid  You can develop your own contract  Using the standard client contract  Incurring a contractual agreement  Formal contract  The letter contract  Order agreements  Purchase orders  Verbal contracts
  • 21. TYPES OF CONTRACTS  Fixed contracts  Cost contracts  Performance contracts  Incentive contracts  Elements of a contract  Who: the consultant and client  What: services?  Where? Addresses of both parties. Where the services will be provided  When? When services to be performed and when paid  How much: how much pay
  • 22. ELEMENTS OF A CONTRACT  Elements of a contract  Competitive restrictions  Patent rights  Insurance coverage  Confidentiality
  • 23. PLANNING AND SCHEDULING THE PROJECT  PERT Model  Agile methodology  Waterfall methodology
  • 24. NEGOTIATING WITH YOUR CLIENT  Six steps by government  Evaluate and rank  Identify offers within competitive range  Eliminate unacceptable offers  Written and oral discussions  Notification of a cut off date  Award the project
  • 25. FOR SUCCESS  Preparation: the key to all contract negotiations  Being wary of telephone negotiations  The negotiation plan
  • 26. NEGOTIATION GAMESMANSHIP  Making the other party unreasonable  Placing the other party on the defensive  Blaming a third party  The good guy and bad guy technique  Straw issues  The walkout  The recess  The time squeeze
  • 27. HINTS FOR NEGOTIATION  Use humor in tensed situations  Do not insult anyone  Do not try to make anyone bad  Be reasonable  Try to find the best for both parties  Talk and listen  Never assume that the other party is 100% accurate
  • 28. HINTS FOR NEGOTIATION  Explain all the advantages that you are offering  If you are not prepared for a topic, defer it  Accept a good offer  You probably is in a very good situation and the client may be in a very bad situation. So work on getting what you deserve in the market
  • 29. HINTS FOR NEGOTIATION  Fight for what are important to you; may give up small advantages
  • 30. SOLVING CLIENT PROBLEM  Step by step  Central problem  Relevant factors  Alternative courses of action  Discussion and analysis of alternatives  Conclusions  recommendations
  • 31. PSYCHOLOGICAL TECHNIQUES FOR PROBLEM SOLVING  Psychological techniques for problem solving.  Why absent mind decides better sometimes  No pressure  Distractions  False knowledge  Use your subconscious to solve problems
  • 32. IMPORTANCE OF ETIHCS IN CONSULTING  Business ethics: not clear cut  Typical ethical problems in consulting  Client already knows the solution  Client wants you to omit information from your reports  Client wants the proprietary information that you learned in another place as employed  Client wants you to lie to his boss  Client wants you to bill for more or less hours
  • 33. REFERENCES  How to Make it Big as a Consultant: William A. Cohen