A Business Consulting Podcast for Business Consultants
Welcome to our weekly Podcast called Everything Business Consulting.
The podcast is all about consulting to Business Owners, and assisting those Business Owners to improve their profit, business growth and value.
It is suitable for existing Consultants, Coaches & Advisors and those of who are looking at getting started in the profession.
It is also perfect for Accountants looking to add additional services and income stream through utilising your existing client base.
You may be already offering consulting advice and want to improve your skill level, client retention or client acquisition success, or you may just need some more tools in your consulting tool kit.
You may be working in corporate management and you want to get out of the rat race and start a new career, you may be an ex business owner wanting to share the lessons you have learnt.
The Podcast will also introduce you to the ConsultX - Business Success Programme.
The ConsultX Programme is designed to assist Consultants through every step of the consulting process. From prospecting through to managing clients and maximising client retention. By streamlining prospecting and keeping clients on track, ConsultX allows you to build a profitable more successful consulting business.
We have been in the consulting profession since 2005 and have built up a consulting network across multiple countries. We have developed and fine tuned a unique business consulting programme called the ConsultX Business Success Programme.
The programme is designed for people like you who want to help business owners to improve their profits, growth and business value. This programme is the product of hundreds of people in our network and thousands of Business Owners.
Our weekly podcast is released every Wednesday and will be packed with really interesting information including - interviews with ConsultX consultants, business owners and industry experts. Client case histories, letters from our global listeners, questions and answers from you and much more.
This podcast is tailored so that we provide our listeners what they want to hear, and what they would like to learn about. You can email your suggestions to us here... firstname.lastname@example.org.
David & Mandy
In this first Podcast, David answers the six most often asked questions by people looking to become a business consultant.
1. Tell Me About Business Consulting with ConsultX & The Business Success Programme?
Traditional business consulting is usually project or assignment based and lasts until the job has been done.
I have a big problem with this method and experienced the downside of this method in my first year as a business consultant. The problem is that quite often a great job has been done for the Client but once the deliverable has been handed over nothing more happens! Incredible isn’t it, all that money paid in fees and nothing is implemented. I hear stories from all over the world that back up this fact. Here's a quick example from Singapore when a multi national publicly listed company hired 2 London based consultants to run a 5 day strategic planning workshop with 20 people in attendance. The room was plastered with giant post it notes recording all the decisions made, after the 5 days were up the consultants left, got paid 200,000 pounds and the PA of the CEO numbered each page and rolled them all up with a big rubber band. This big roll of paper sat next to the CEO’s desk for 4 years and then got thrown out, maybe an extreme case but my experience was similar in my first few years as a consultant.
After 12 months of project or assignment consulting I felt like a fraud because no matter how hard I worked nothing positive was being achieved.
So I then decided to change my model and build it using ongoing performance management, in other words I became in control of the implementation. Then things started to happen fast. So a big important part of our Business Success Programme is the implementation process.
2. Why Is The Demand For Our Services So Large & Growing?
It is our proven belief that in western society over 75% of businesses need our help, why is this?
As Michael Gerber in the E-Myth stated “the technician gets an entrepreneurial flash of inspiration and decides to start a business, for a few hundred dollars the government gives him a licence to own and run a business, there are no tests and no training required so the technician just starts. Over time he loses all his equity and is embroiled in a roller coaster ride of finances and emotions, and quite often goes broke or closes the business down”.
In Australasia the failure rate is 80% in the first 10 years, in other countries I am guessing the number is similar.
So this indicates that the size of the market for business consulting is huge and ever growing, until governments force change, but I do not see this happening in our lifetime.
The opportunity to work with these business owners as “Business Success Partners” is all around you and providing you use the right system, it is quite easy to form strong relationships and build a lucrative consulting business for you and your families benefit.
The business market size seems to be between 1-2% of population in most western countries. 1% makes up an employing business, and the other 1% are self employed people with no employees.
3. What Precisely Do We Do As Business Consultants or "Business Success Partners"?
The short answer is “ we work long term with business owners to improve their profit, growth and business value”.
We tend to wear many hats whist working through the process:
- and sometime a psychologist...
The “Business Success Programme” has evolved over the years and some really useful tools have been developed to support the Business Owner, not just business related but also to assist them in their personal life - Because quite often business and personal life can get intertwined.
Our objective is to assist the business owner to develop and reach their personal and business 5 year vision. Something they just can not do by themselves, evidenced by the fact that they have not done it to date, and we usually find them in quite a mess. This involves getting quite involved in all aspects of our clients lives and we have to do this to provide support in the many areas of need.
Most Accountants traditionally work in the past providing historical financials and lodging tax returns. We work by looking into the future, as you can not change the past. So by helping the Business Owner to develop and plan a personal and business 5 year vision we are helping to set their desired destination, as well as developing the map to get there aka the business plan.
The objective is to form a strong long term relationship with the business owner and deliver to him or her a 10:1 return on investment - They give you a dollar and you give him ten dollars in return.
4. Is It Hard To Become A Business Consultant?
We have been in this business since 2005 and as you would imagine have learned a lot along the way, we became an international network in 2009 and our members helped us to fine tune the “Business Success Programme” as we went along.
A big part of the development of the programme has been training people from a wide variety of occupations and I can tell you that no one occupation stands out as any better than another.
The main attributes required are:
- Desire to help Business Owners become a success
- Prepared to learn a new profession
- Ability to focus on becoming a business consultant with no distractions
- Prepared to follow the programme and to not re-invent the wheel
- Passion and motivation
The training provided by ConsultX is comprehensive and covers the whole programme from Client acquisition to maintaining a long term win/win relationship with Business Owners.
Online videos and written material is used as we find this the best method to foster retention with trainees, as the videos can be reviewed as often as required. Everybody brings to the network their own specialty and experience, ConsultX provides the missing elements required to become a successful business consultant.
5. What Are The Backgrounds Of People Who Join The ConsultX Network?
No background stands out, but here are a few examples:
- Ex business owners
- Ex corporates
- CEO, GM, Sales Managers
- Ex Coaches
- Ex Bank Managers
- Ex finance executives
- Business brokers
- Insurance brokers
6. I Have Heard You Describe This As A Lifestyle Business, What Exactly Do You Mean?
My definition of a lifestyle business is one where you decide the hours you work, who you want to work with and how much you want to earn.
Many people I talk to describe in detail the drudgery of their current job, hours of commuting, boring meetings, little chance of promotion, and remuneration just enough to live on.
Imagine a business where you can take the kids to school when you want, have a 3 day weekend when you want, cut out the commuting and have complete freedom of your time.
Business consulting is a business where you get paid for whats between your ears, not the hours you work. Working on a percentage of revenue basis frees you from a time based earnings systems and takes away all income ceilings.
I have worked from home since 2005 and right now am looking out of my office window at the green rolling pastures of New Zealand about 50k south of Auckland.
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