Things I’ve Learned as a Consultant – Part II

  • As an extension of the last point of the last post, when you’re in professional services, whether banking, law, design, consulting, whatever, you’re trying to sell someone something that there are no physical results of. And sometimes, not even precedents. You’re saying ‘trust us’. So how do you build that trust? A brand goes a long way.
  • But having been on both sides of this — the salesman and the person doing the contracting/hiring, I believe the absolute best thing that will help you nail the pitch, without question, is a sample. Samples are the strongest test, for the simple fact that having something that addresses the requirements perfectly makes you impossible to ignore. This not only makes them know you are capable of doing the job, but that you’ve listened. It is a rare client that knows 100% exactly what he or she wants before the service has started, because as I’ve written in the previous post, clients engage you based on a dark nebula of capabilities they imagine you can do. In the beginning, it is important for them to know that you are responsive, that you can react to their feedback.
  • But I cannot stress this enough: “Let em test the product, give em a promo show/Just a breeze, not enough to catch a real vibe/Then we drop a maxi single and charge em two for five/Ain’t tryin to, kill em at first just, buildin clientele/So when the album drops the first weeks it’s gon’ sell” — Jay-Z (Rap Game/Crack Game)
  • The reason is that if you have a sample or a pitch that addresses their requirements, it will cause them anguish if they have to pick someone over you. It will cause them to justify their own metrics. You will be remembered.
  • If you are in a profession that does not allow you to provide a work sample, just be aware that a buyer of services, especially if they are purchasing a particular service for the first time, will latch onto other things (attribute substitution). For example, how polished of a speaker are you? Do you buckle under pressure? Do they like you? Do you have the proper gravitas? Are you older, do you have a few grey hairs? Many of them are unfair and irrelevant, but this is what happens, so it helps to be aware.
  • Related to that last point, there are people in the consulting business who dye their hair grey and wear glasses in order to appear older and more experienced. Just saying. When you’re a bright young person it’s easy to become disillusioned about this. But if you encounter this situation, it is better to step back. What is it really telling you? That as much as you think clients are paying for the actual insight, they’re paying for reassurance. They are buying the brand.
  • The higher your fee, and the longer you take, the higher the expectations of your client. They will grow. And grow. It is better to program in interim deliverables to anchor their expectations early and allow for feedback. This is as a result of differing perceptions of time between those in the flow of doing work, and those waiting for something.
  • But curiously, even if you are able to finish something ahead of schedule, having any extra time left leads to doubts. You’ll check and recheck your work. Due to Parkinson’s law, the project has a good chance of actually always ending up taking the amount of time allotted to it.
  • Everything is about good communication. It’s not just about having the facts or a superior product. You can have a superior product and still lose the pitch, you can have all the facts and insights but fail to engender understanding. And you can have titular authority in your firm, but fail in managing or marshaling the resources of the people under you. Good communication includes soft skills, connecting with people, speaking with enthusiasm, being authentic, etc.
  • Smaller clients are good because often you work directly with the person who is both the decision-maker and stakeholder in the service. But smaller clients have less to lose when they try to negotiate your fee — down — after you’ve already performed. They can also be demanding, and your interactions will be subject to the whims of the person buying your service, who is often the same person writing your check. Big clients will often have no problem paying you, but because the stakeholders, decision-makers, and people you are interacting with can be three different sets of people, the layers of hierarchy and management can lead to confusion, delays, conflicting directives, which ultimately means, more time spent on it and more work for you.
  • Since consulting is the business of selling brains, the necessary conclusion to this premise is that the better the brains perform within a given length of time, the more value you can capture, and the less costs you incur. Research has shown that cognitive thinking is a physiological process, meaning it’s another body function regulated by energy levels. Keep up your energy levels and you have the potential for longer periods of higher thought. Exercise, meditate, eat right. This cannot be stressed enough, and goes back to the athletic component of traveling for consulting.

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