David Shavzin, CMC, is a Certified Management Consultant, and a passionate and experienced exit and succession planning expert. He created The Value Track to help business owners improve profitability, build value and maximize their business transaction. A frequent speaker on these topics, David is President and a co-founder of Exit Planning Exchange Atlanta and past president of the Institute of Management Consultants – Georgia Chapter. David has over a dozen years of experience senior corporate roles followed by nearly 20 years of consulting to privately held businesses. His industry experience includes manufacturing, distribution, healthcare, and professional services firms: law, accounting, architecture, engineering, and design.
Susan Knox of Corporate Connections is a tenth generation Georgian, with an exceptional reputation and network. I am so pleased to have her on the ITB Partners Team as her business is unique and her personal story is compelling. In fact, I thought you would find her story so interesting, I convinced her to sit for an interview. This is the third installment of our discussion.
Jim: “What is your motivation? What gets you out of bed every day?”
Susan: “Number one, I love having great people around me. When I say great people, I mean people with integrity, who are smart, and ask ‘how can I help you first.’ They aren’t takers. They check their egos at the door; men and women, who are genuinely good people. I love having that as my nucleus and I thrive on meeting new people. The capital of my company is my relationships. I think that relationship capital is under-valued currency.”
Jim: “So you wouldn’t call yourself an introvert.”
Susan: “No! I could not do what I do if I were an introvert.”
Jim: “You said you have three brothers, older, younger?”
Susan: “All are older, I am the youngest. I learned a lot from them. My dad treated me like a little princess. He also taught me to be fiercely competitive. I could outrun them, swim across the lake underwater, and not come up (for air) because I was not going to disappoint them.”
“I have a very competitive spirit. I like to win.”
Jim: “How would you describe your clients, is there a common denominator? Industry segments for example?”
Susan: “No, there isn’t. It’s really across the board. I have three companies raising capital, a very big software development company, and a marketing company. My clients also include a Law Firm, a Bank, and a CPA firm. My Network and my clients are much the same. I work with them on retainer until they feel they have gotten what they need and then flip them into the Network, my board. My clients are a feeder system for my Network. I want to make sure the members of my Network, work well together. When I started my network membership, almost two years ago, I did not want to become industry-specific and have one member per category. It is not a leads group at all. It’s totally about relationships and bringing people together that can be top of mind, where likes attract likes is the kind of group I wanted to build.”
Jim: “What was involved in creating Corporate Connections?”
Susan: “Well, I will never forget my first meeting. I invited people I knew well. I called it “An evening of introductions.’ I am still using this title today. Nobody knew what to expect, because there was nothing like it at the time. I was mixing people who should know each other. I served wine and beer and went around introducing them. One of my signatures is to have people introduce themselves (to the group). There is nothing better than knowing who is in the room with you so you can immediately pick out someone to meet. I learned early on to combine socializing with facilitated introductions, and then to follow up.”
“Through the years I’ve learned to give people the most for their time. I learned to slow down, work the room, and let people know why they need to know each other. I learned is to make a personal connection; mention that they both like to play golf, or they might be avid tennis players. Maybe their kids go to the same school or they are both Clemson Alumni. I get to know my contacts so I can say something personal about them. It takes some of the stiffness out of the room.”
“I want to know about their passions. A lot of my contacts are willing to give back their time and their money. Some want to be a mentor or to serve on a board. So, for me to know your passion is important.”
“This morning I was with six hundred women who work with children that don’t normally have access to something like Westminster. It is called Odyssey. These women all have a passion for giving underprivileged children a hand up.”
Jim: “That would be an extension on what you are doing with a philanthropic angle?”
Susan: “And, I tell everyone to figure out ‘what your passion is about and go volunteer.’ Get on a board, help with membership. Do whatever it is that you are passionate about.”
TO BE CONTINUED…
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Jim Weber – Managing Partner, ITB Partners
Jim Weber – Managing Partner, ITB Partners
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David Shavzin created The Value Track to help business owners build value and create a path toward a successful exit. Too often, they have not built the value they need and are unprepared when the time comes to put their transition into action. In this RadioX interview, “Maximizing Exit Strategy, Understanding Value”, interviewed by John Ray on Business RadioX®: Listen to the Interview
David discusses critical issues that business owners need to understand in order to maximize the sale of their business. Exit planning is a process – not something to decide one day, and try to implement the next.
David helps business owners think through their long-term goals and plans, educates them on business value and brings the right – collaborative – advisory team around the table. He then assists in the implementation of value-growth initiatives, guiding them to a successful transition (sale, family transfer, etc.). His 7-step process improves their quality of life and allows them to exit on their own terms.
A frequent speaker on these topics, David is a CMC, former IMC Georgia chapter president and President and Co-Founder of Exit Planning Exchange Atlanta, formed to bring advisors together in a collaborative effort to serve their clients.
His early career was in banking and finance, then 12 years with life sciences company Sanofi/Aventis. He spent 4 years in corporate finance and Mergers & Acquisitions. Then, 8 years of leading teams responsible for Quality, Finance, Supply Chain, Customer Service and IT functions within a $175M subsidiary.
Breakfast meetings can be a wake-up call when the attendees are experienced and masterful at their crafts. And when Jim Weber of ITB Partners presented his perspective on selling consulting services last week, even the most experienced among us sat up and took notice. (This post combines Jim Weber’s presentation, and with his approval, some framing with my own perspective.)
Anyone who is a good consultant wants to do a good job, and differentiate their services for their prospects and clients… that’s natural. Sometimes, however, we can miss the point — which is making the connection to our client, and understanding their world fully, through their eyes.
We sometimes miss the subtext of the conversation, which may be about the client’s unstated needs. So good consultants must be connected to their clients. They must value the client’s interests. And the context of selling consulting services must be reframed to focus on the client’s interests.
There’s also a bit of healthy schizophrenia involved — while you must understand the client’s need, you must also ensure that your own consultant’s assessment adds up.
Here are some takeaways:
Inside Your Prospects Head
At just about any company, the person hiring you will want to know two essential questions — “Do You Understand My Problem?” and “Will You Make Me Look Good?” If you can’t get past these questions, all the great work you might do… might not happen. Other key questions will likely include “Can You Work Within Our Culture?” While the culture may be cool, calm, and collected…or mad as a March hare, most clients expect No Drama.
You Are In Front of Viable Prospect
A key step in developing the plan is making sure there can be a plan. Is the prospect qualified? Are they just fishing around, or do they have a defined need? Are they looking to you to define this need? Do they have a budget available to pay for the project?
To understand and frame your client’s expectations you can ask: “What’s important around here?” This will help you determine if they are looking for a certain type of program response, or profitability, other KPIs or “soft” goals.
Sizing Up The Project And Expectations
Asking the right questions here may make the difference. You may ask “What have you done” in regard to the project, and this will offer insights into the client’s approach, plus success or failure at that endeavor.
And you will want to know “how” they executed the project — “How did you execute that?” will also tell a lot. The consultant can check out expectations by asking a question such as “If we found new ways of thinking through this issue, would you be open to that?”
Your Goal – Close The Deal!
When discerning the client’s needs, and their framing of it, you’ll want to Validate The Client’s Diagnosis. This step is key for producing later success.
You’ll also want to understand the company culture, and how your work and style fits into it. Then, essentially, you will be validating your fit for the work.
The Presumptive Close
I presume there are all kinds of “presumptive close” styles, but part of the subtext of the selling conversation will be to continue building the relationship. You’ll want to demonstrate what it’s like to work with you, and your Closing Strategy conversations are the beginning of your work.
How To Scare Off Your Prospect
Sometimes we can scare off the prospect by identifying all their landmines. And we suggest solutions. I take this one personally, I do it often — my rationale, likely yours, too — is to help the client, direct the conversation, and to provide value even in that initial selling process.
While those insights might be correct, the client just wanted to solve a particular problem. Other times, in the spirit of being a hero and showing how much we know, we can come up with a premature diagnosis – which is not fully informed, and off-target. We can also be too surgical in our technical techniques and conversation — even if it’s right, it just doesn’t build rapport.
A Successful Sales Close
While a consultant needs to map the terrain and understand where the client is at if all the questions asked to serve the consultant… then you might as well hire yourself. Jim reports that some consultants were “dying” when they focused on the mechanics of their job. But-but-but when they switched to issues that were important to the prospect… they arose like Pegasus. That’s a way better end result!
Another interesting bit of perspective from the meeting and discussion, regarding agenda and expectations, was the insight to “assume the worst going in” to a meeting. That doesn’t mean being a pessimist, it means that we live in a fast-paced world, and everyone may not be prepared for the meeting, or you might not expect the unexpected — you may need to guide the agenda and set expectations.
Jim’s presentation had us focus on being connected. Valuing the prospect’s interests. Playing their role. Not just understanding what they say they want, and selling the value of your services… but absolutely ensuring we meet their interests. Sounds good to me!
– – – – – – – – – – –
Would you like to see the narrated .ppt presentation? Here’s the link, as Jim Weber presents Selling Consulting Services: https://lnkd.in/eXPbePR
Joel Alpert of MarketPower is a branding and marketing consultant who has developed branding, strategic thinking, direct marketing and more, for Fortune 500… SMB… and one person consultancies, in just about every conceivable category of business.
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A close friend and associate, John, become a successful independent consultant after leaving his corporate career. His transition was relatively easy as his network was strong, and he was well respected. His network was so powerful that he seldom failed to close a deal where he had a first-party referral. Those referral-based deals launched his career, with a little help from me. His challenge was closing deals when he had a third-party referral or if he had surfaced the prospect. That was an important learning experience for John.
John had difficulty closing a prospect unfamiliar with his reputation. We would debrief after those situations and I would offer suggestions to improve his technique. During this time, I recognized a self-destructive pattern common to inexperienced Independent Consultants. John had difficulty selling himself. Inadvertently, he repelled his prospects.
As discussed in my last post, prospective clients must become comfortable with the consultant. They want to ensure that the consultant will make them look good. Stated more bluntly, they want to ensure that they won’t be fired for letting a contract with an incompetent consultant, someone disruptive to the culture. These are the same concerns any manager would have when considering a potential hire. In John’s case, he struggled to make a connection. He would launch into problem-solution mode before he fully understood the prospect’s concerns. He didn’t ask questions that addressed their cultural imperatives and potential minefields. He would pontificate about concerns the client should have but may not have considered. John wasn’t necessarily wrong, but his delivery was off-putting, insulting even. I could see how the prospect would be concerned about him. I am certain they wondered if he would be difficult to manage and disruptive to the company’s management style. He did not assuage their concerns.
I had a similar experience recently. I was talking with a prospect about helping them through Chapter 11. This was a third-party referral, so I had to sell myself to the prospect. On my first visit, I focused on satisfying my need to ensure a successful outcome, rather than to understand their perspective. I was preoccupied with trying to extract information about their financial reporting capabilities. I was concerned that I wouldn’t have the information I needed to do my work. I wasn’t putting the prospect at ease. Looking back on the situation, it may have seemed like an interrogation to them. They were on guard, looking stone-faced as they provided minimal information. Fortunately, I recognized my mistake early enough to redirect my approach. I asked them to provide background about the cause of their financial situation and what they thought needed to be done. Their demeanor changed immediately as they went into detail about their needs. I had cracked the code! I stayed with that approach, drawing them out with open-ended questions. The more they talked, the greater my empathy for their predicament. People don’t want to be told what to do. They want to work with someone who will help them understand their problem so they can find a solution together. This tact was the beginning of a relationship that led to an engagement. It’s odd that I didn’t begin with this approach as it is my preferred style.
My initial tact with this prospect was a rookie mistake, uncharacteristic for someone with more than twenty years of experience. Landing contracts is about building relationships. The prospect wants to know that you have empathy for their situation, you aren’t judgmental, and understand their needs. The most effective way to accomplish this is by asking open-ended, non-threatening questions. This will help them open up to you. Approaching them in this manner demonstrates your professionalism. They will come to understand that you are sincere in your interest to help and that you are a fit with their culture. Eventually, John learned this technique and became a consulting powerhouse.
Remember, from discovery to close, your prospect is evaluating you. They want to know that your project management style fits with theirs. They don’t want to inject a disruptive influence into their company. The client wants to enhance their reputation and keep their job. They probably have more work in mind and would like to find someone to help them in the long term. So, if you want to close more deals, take time to understand the client’s situation. Ask questions to stimulate a dialog, generating information you need to help the client.
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A lagniappe (/ˈlænjæp/ LAN-yap, /lænˈjæp/ lan-YAP) is “a small gift given to a customer by a merchant at the time of a purchase” (such as a 13th doughnut on purchase of a dozen), or more broadly, “something given or obtained gratuitously or by way of good measure.”[2]The word entered English from the Louisiana French adapting a Quechua word brought in to New Orleans by the Spanish Creoles. From Wikipedia
Last week’s article mentioned the value of gift-giving to build relationships and generate new business. This week I was on the receiving end of several offers that reinforced the value of gifting. The most memorable situation occurred while talking with a prospective new consultant, Linda. Linda recently left a corporate career to strike out on her own, as a licensee of a National Brand that markets productivity enhancing solutions. We talked about her program’s benefits and I told her about our business model. At the end of our conversation, she invited me to complete a complimentary on-line diagnostic to determine how I might benefit from her services. It was gift of a free service. I was intrigued and gladly completed her survey. Her diagnostic is an excellent way to qualify new clients and since she captured my name and email address, she has what she needs to build a long-term relationship. Naturally, I did the same.
Early in my career, I spent five years working for Hickory Farms of Ohio. Hickory Farms built its business by offering gifts of free samples. Employees would greet shoppers passing in front of their store with the offer of a free slice of Beefstick Summer Sausage. While the shopper was enjoying their sample, the employee would tell them about the product and ask if they liked the taste of the item. A positive response from the shopper (commitment) began a conversation often leading to a sale. Today, sampling is a common practice used in restaurants and grocery stores.
Gift giving is a practice deeply embedded human culture. We know that throughout history, especially in the political realm, it was customary for visitors to present their host with a gift. The more important the host, the greater the gift. Gift giving is still a common practice, especially between people with established relationships. However, most larger companies have established rules for accepting gifts to ensure ethical behavior. In my experience these rules usually govern the acceptable value of the gift and full disclosure. Giving gifts is an excellent way to say thank you and to demonstrate appreciation, however, gifts can also be an effective way to establish a relationship.
Reasons for offering a gift:
To build and reinforce relationships/loyalty
To show love, devotion, and respect
Symbolic communication
To help others (altruism)
To find a mate
There is an entire industry segment (Promotional Products) devoted to gift-giving as a marketing tactic. I am confident that you have received items from companies that want your business. Typically, these are small items with a low monetary cost, but high utility value, which includes the giver’s logo, a tagline, and even a telephone number or email address. Items like coffee mugs, writing utensils, and key fobs come to mind. Every time you use the item you recognize the logo and think of the gift giver.
Linda’s technique is a classic way to generate new clients. Other similar offers include White Papers, Research Reports, Directories, and Training, among others. These offers are seldom 100% current or complete so they provide limited value but are useful ways to whet one’s appetite for more. Another effective technique is to offer a limited engagement at a modest price that adds value at minimum risk. I am not a fan of conducting this work for free as doing so tends to diminish one’s brand value. These entry-level projects are typically diagnostics that help the client validate the nature and scope of a perceived problem. It is a useful way to solidify a working relationship with a goal to stimulate further engagements.
If building relationships is an optimal way to generate new business, giving gifts is an effective way to establish a relationship. Offering gifts is aligned with established cultural norms that convey respect and appreciation. Giving a gift invokes the concept of reciprocity, another cultural norm which creates a perceived obligation for the recipient to respond in kind. Hopefully, the recipient will feel obligated to give you a fair opportunity to pitch your business, if not actually contracting your services. Whereas gifts of intellectual property may provide immediate value, smaller physical items with your company logo and contact information will serve as a constant reminder to the prospect. Limited engagements at a lower cost, while not necessarily considered a gift, is an effective way to solidify a relationship. These engagements can serve as a foundation for larger, more profitable contracts. In conclusion, while you are attempting to establish a relationship consider the viability of tangible and intangible gifts to facilitate the process.
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“Introduction to FAIR Quantitative Risk Analysis Methodology”
Donna Gallaher provides Information Security and Operational Risk Management Advisory Services giving Boards of Directors and Senior Executive Management Teams the tools and expertise they need to navigate the unfamiliar waters of evolving markets. We facilitate collaboration among your company’s business units to develop policies and operational risk mitigation strategies appropriate for your risk tolerance. Donna will present:
Ms. Gallaher served as a C-Level Strategic Advisor in IT and Cyber Strategy for multiple global companies for over 15 years drawing from her previous successes in engineering, solution selling, IT operations and leadership. She provides value to clients by thoroughly understanding business and regulatory requirements, assessing obstacles and translating technical challenges into business risks allowing technology to function as a business enabler. Linkedin
The Atlanta chapter of the Business Executives Networking Group (BENG) is a multidiscipline, independent group of job seekers, those currently employed and business networkers, who are willing to help others. Current membership includes mid to senior-level executives with over ten (10) years of business experience. Past attendees have come from financial management, information technology, legal, manufacturing, engineering, transportation, logistics, distribution, and general management industries. We actively seek new members from all disciplines.
It’s been a while since I thought much about the process I employ to generate new business. Even though I’ve been managing my business for over twenty years, I don’t think about the processes I use to generate more business. I have an effective system in place which I execute diligently. Building relationships with prospective clients has become second nature, almost intuitive. Recently, I have been thinking a lot about my business development systems and processes, however. Since making a commitment to deliver a presentation on selling consulting services, I’ve been compelled to reconsider the matter. As you would expect, the subject has been on my mind quite a bit lately.
Friday, I discussed my progress on the presentation with my friend Faith. During our discussion, I mentioned that I hadn’t chosen a topic for this week’s blog post. I said that I would like to continue the theme of the last few weeks, building relationships. She suggested that I write about building professional relationships that generate new business. I liked her idea and I’m pleased to continue exploring this subject.
As I think about it, my work is all about building and strengthening relationships. People come to me seeking new jobs and career advice. I like to do what I can for them. Although I may not be able to help them immediately, I believe it’s important to understand their needs and aspirations. At some point, I will learn of an opportunity to provide assistance. By doing so, I am creating a foundation for a long-term relationship.
Mary’s situation is a good example. Mary is in the process of closing the family business and moving her residence to Atlanta. She came to me looking for help transitioning from her position as COO for an industrial company to become an employee for another company. Currently, she is not able to devote 100% of her time to job search, so starting the process has been prolonged. I immediately connected her with two networking groups to begin her transition.
Two weeks ago, we scheduled a call to discuss her situation. I had promised to review her resume and owed her my feedback. After providing my thoughts, she asked if I would take her on as a coaching client. I agreed, of course, and we scheduled a follow-on, face-to-face meeting. Reflecting on our interaction, we developed a relationship that resulted in new business for me. She came to trust me because I demonstrated a sincere interest in her career aspirations. I connected her with others who could be helpful and provided suggestions to improve her resume. Stated another way, I showed a genuine interest in helping her and demonstrated my capabilities. Interestingly, I never pitched her on the idea of becoming a client.
Selling consulting services is about selling an intangible product. One cannot touch, hold, see, smell, or hear the product. It is something that can only be imagined. Those buying consulting services are taking a leap of faith. In many ways, the process is the same as completing a successful series of job interviews. The candidate’s primary objective is to establish rapport with the hiring manager. After all, we want to work with people we like and who like us. To achieve a successful outcome, one must establish a personal connection. So, building rapport requires effective interpersonal skills. Those skills include the following:
Empathy – needs assessment
A Positive Mental Attitude
Appreciation/Gratitude
Mutual Respect
Accountability
Offer something of value – a gift.
Professionalism
Honesty and forthrightness
As with any job interview, you are being evaluated on every step of the selection process including an offer of employment. As you work to gain the prospect’s confidence, your working style and ethics are on display. The prospect is becoming comfortable, or not, with the idea of working with you. A well-executed process is critical! I cannot overemphasize the importance of this phase of the sales cycle.
Selling consulting services is a process governed by the fact that you are selling an intangible product, the prospect’s desired outcome. As a consultant, your job is to make the product tangible and mitigate the prospect’s doubt. You are the product! The attributes of the product you’re selling are your attributes: competence, professionalism, empathy, and ethics among others. You will demonstrate these attributes by developing a working relationship with the prospect. By developing solid relationships, you will ensure the success of your business.
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It isn’t often that I can observe my clients during their day-to-day interactions. In my twenty years as an Executive Recruiter, I have observed only five interviews conducted by a client. I found those situations interesting and most helpful. As a coach and consultant, I usually rely on the client’s after-the-fact recollections of an encounter. This is not ideal, as I only hear one side of the story. Sometimes, I am fortunate enough to observe the encounter in real-time. Those opportunities, however rare, result in a treasure trove of useful information. I had one of those opportunities this past week.
I spent some time with a prospective client this week. It was an unusual situation as I was working with another client, who happens to be a vendor for the prospect. This prospect has come to know me through my work with his vendor. Apparently, he likes my style and has talked with me about an engagement. So far, the discussion has been preliminary. I recognize a possible conflict of interest with my current client, which I intend to avoid.
My client and the prospect are typical entrepreneurs. They are hyperactive, creative types. Maybe even a little ADD. Although affable and engaging, they share a common weakness, communication skills. When they aren’t understood, or work is not completed as they had envisioned, they become frustrated. It’s as if they expect others to read their minds. The resulting admonitions are unprofessional, unproductive, and borderline nasty. They fail to provide clarity to their expectations and how to correct the issue if required. I am amazed that neither recognizes the problem, but they aren’t happy with the symptoms. My client has come to the realization that changes must be made if there is to be a productive working relationship with the prospect. Clearly, they lack self-awareness regarding this issue.
While with them this week, I experienced their interactions firsthand. I observed the prospective client’s interaction with others including his employees, vendors, and customers. I observed his interaction with my client and a few of his subordinates. They were interesting and revealing. In one case he admonished an employee for his failure to complete an assignment. The prospect was agitated that the employee had not completed more work, challenging his work ethic. The prospect continued to repeat, “you’ve got to step up your game.” Regarding this encounter, I witnessed the instructions the employee received from my prospective client. The employee did exactly what he was told to do. The prospect failed to recognize the work completed by his employee and never explained what should have been completed. My take on the situation is that the prospect was worried about something else and unloaded his frustration on the employee. Not exactly what I would call a positive management style. The confrontation was a waste of time and detrimental to the employer-employee relationship.
I observed similar conversations between my client and the prospect. Those conversations included contradictory instructions and failure to establish clarity. At one point, the prospect told my client “we must slow this project down,” then later, “you must speed up your work!” Totally contradictory. When debriefing my client, I recommended that he make greater effort to achieve clarification. I suggested he ask questions and take cogent notes. Then confirm back with the prospect to ensure mutual understanding. Simple right? Well, not necessarily. The other point is to make better use of technology. I recommended that my client use email, text messaging and meeting scheduling tools to ensure understanding.
This post is about working through a dysfunctional relationship, the need to improve one’s communication skills and the importance of hiring a coach or maybe even an Organization Psychologist. I will continue my discussions with the prospect as I know I can be helpful. At this point, the prospect needs a coach more than a consultant.
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As you would expect, I spend a lot of my time promoting ITB Partners to prospective clients who may need our consulting services. Additionally, I talk with many people who want to affiliate with our company to leverage their resources and create a sustainable independent consulting practice. This week was typical in that respect.
Of course, all my meetings are interesting. I learn a lot from these conversations. One conversation stood apart this week. I received a phone call from a lady I have known for many years. A millennial, she’s been developing a sideline business. She started by purchasing unclaimed freight and reselling that merchandise through Facebook. As she learned about her customers and her skill set, her business became focused on selling women’s clothing. She has positioned herself as a fashion consultant. Her unique selling proposition is helping women purchase clothing that best suits their body type and personal style. As her business model requires consultative selling, I was very interested to learn how she connects with her clients and the process she uses to generate business. She was very gracious as she answered all my questions.
Consulting services are categorized as intangible sales. The product we sell is an improved future ‘state of being’ compared to the current situation. The desired ‘state of being’ cannot be experienced physically. One cannot see the outcome with their eyes; they cannot touch or taste the product as it currently doesn’t exist. The product may be a significant increase in revenue, lower operating costs, greater profitability, or reduced risk. These states can be measured only after they have occurred. Those of us selling consulting services must conduct ourselves like a physician. We want to make our clients feel better.
Last week I wrote about the value of listening which I believe to be an essential skill. I am convinced that it is the most important tool required to be a good consultant. I have been faithfully working to improve this skill. Toward that end, I remind myself to concentrate on what the other person is saying and to squelch thoughts about my response. As with most sales processes, my meetings are about gathering information to qualify prospective clients, not to debate. I endeavor to listen carefully and ask questions that yield useful information. Asking the right questions is required to keep the conversation flowing.
I am fond of using the physician as an analogy for the consultant. Before the physician can convince the patient on a course of action (to resolve a problem) she must gain the patient’s trust and confidence. The patient must be assured that the physician is prescribing a treatment that is in their best interest and that the physician is competent. It is the same process for an independent consultant. The first step is to gain the trust of the prospect and then to establish confidence. To begin the process of creating trust, the consultant must establish rapport. We do that by asking questions and listening thoughtfully to the prospect’s response. Questions that reveal the prospect’s situation, concerns, and fears help the consultant understand the nature of the problem to be solved. It also demonstrates empathy which establishes rapport. Like a physician, we want to know ‘where it hurts,’ and to understand the prospect’s ideal situation. Asking follow-up questions shows the prospect that you have a sincere interest to help them resolve their problems. Sincerity on your part will establish trust.
When you’ve established trust, you can work to gain confidence. Establishing confidence is based on quantifiable results. In other words, how many times have you completed the prescribed work and what is your success rate? If you are a surgeon prescribing a heart transplant, the patient will want to know how many heart transplants you’ve completed and if you lost any patients. This is a good time to have references available to ‘sing your praises.’
To be successful selling an intangible product like consulting services requires that you create a bond with the prospect. Creating a bond, or establishing rapport is accomplished by listening carefully to understand the prospect’s pain. Asking follow-up questions to completely understand the extent of the prospect’s situation helps ensure that you will close the deal. So, take time to ask good questions, listen carefully, and close more deals.
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When discerning the client’s needs, and their framing of it, you’ll want to Validate The Client’s Diagnosis. This step is key for producing later success.
A close friend and associate, John, become a successful independent consultant after leaving his corporate career. His transition was relatively easy as his network was strong, and he was well respected. His network was so powerful that he seldom failed to close a deal where he had a first-party referral. Those referral-based deals launched his career, with a little help from me. His challenge was closing deals when he had a third-party referral or if he had surfaced the prospect. That was an important learning experience for John.
As you would expect, I spend a lot of my time promoting ITB Partners to prospective clients who may need our consulting services. Additionally, I talk with many people who want to affiliate with our company to leverage their resources and create a sustainable independent consulting practice. This week was typical in that respect.