Day: May 26, 2018

This week has been unusual for me, at least in one respect. I did not have the typical amount of appointments or scheduled phone conversations.  Even so, I closed one deal to place a Fractional CFO with a new client.  That by itself would qualify as a Great Week!  After all, signing new clients is a primary objective.

No, this week was unusual because I was able to spend more time in the office, catching up on important administrative tasks. I prefer to complete administrative tasks, like accounting and bank reconciliations, after hours or on the weekend. That frees up time to focus on higher value-added work during normal business hours, especially business development activities.  It’s not as if I’ve gotten behind schedule on these tasks, but the available time was welcomed.

So, I spent most of the week working on business development activities, including recognition for one of our consulting clients.  This client is a residential remodeling company who just won an award from the Atlanta Architects Organization.  I updated our website News Page to reflect their award, with links to the press release and the client’s web page.  Also, I scheduled an email blast to add additional weight behind their success.  Finally, I added the profiles of two new consultants to our website and announced their affiliation with ITB Partners via my email marketing platform.  These digital marketing efforts are key components of our business development strategy so I gave them the respect they deserve.

The added time in my schedule provided an opportunity to think about my time management effectiveness.  Working as an independent consultant requires one to continually evaluate the way we use our time. As I have said, a vital yet time-consuming activity is related to business development. Obviously, this includes the activities I mentioned earlier; email marketing, social media marketing, blogging, and public speaking opportunities.   These tasks are fundamental for any Independent Consultant pursuing a “Subject Matter Expert” strategy.  However, the most productive business development activity is networking.  Networking is a face-to-face activity required to expand one’s base of contacts.  As more people learn about you and your capabilities, they become motivated to contact you when they have a need.

I’ve heard that Independent Contractors must spend up to 20% of their time engaged in business development activities. That is one full day per week.  It may be a good statistic as business development is a high priority, but one full day each week seems like a lot of time.  I believe you can appreciate my motivation to find a productive solution to this need.  Employing a successful business development program is so important to me, I have designated it as the primary topic of conversation for next week’s Monthly Member Meeting.

Frankly, leveraging our Members time to support their business development efforts is a primary benefit offered by ITB Partners.  Granted, our members still need to engage in networking activities, however, we help them find public speaking opportunities and execute an electronic marketing program on their behalf.  This allows them the flexibility to spend their time more productively.

At ITB Partners, we understand the dilemma faced by the independent consultant.  Without an affiliation with a larger service provider, they are burdened by the full cost of time and financial resources to support basic corporate infrastructure and business development.  We created a model that leverages their resources and integrates them into a network incentivized to connect them with consulting opportunities.  Our Members, Independent Contractors, minimize their time on the lower value-added marketing functions to focus on networking and client services.   We believe it is an ideal model for the New Normal.