kmg phila presentation 11 nov09
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1Copyright © 2009 by Iknow LLC.
So You Want to be a KM Consultant?
Joe [email protected] Iknow LLCNovember 11, 2009
So You Want to be a KM Consultant?
The Making of a Consultant
The State of the KM Consulting Market
KM Consulting –a Career Perspective
KM Consulting Strategy: 2010 & Beyond
Seven Keys for Consulting Success
Conclusions & Takeaways
Questions
2Copyright © 2009 by Iknow LLC.
The Making of a Consultant
I always wanted to be a consultant.
I don’t know why.
3Copyright © 2009 by Iknow LLC.
© www.despair.com
The Making of a Consultant
- Worked in “Big KM” – Big 4 in the ‘90’s. The time we fondly remember.
-The eye of the storm for KM at the time
- Everyone wants to get back to that time
-But, IT’S NOT COMING BACK!
4Copyright © 2009 by Iknow LLC.
The Making of a Consultant
With Iknow Since 2005
“A meritocracy of ideas.”
Model has evolved with shifting market.
“KM Dream team strategy”
Experienced consultants and practitioners across the spectrum of KM topic areas.
- Unique combination of business strategy and technical delivery capability across content management, collaboration, and other KM topics (e.g. taxonomy, CoP, org governance.)
5Copyright © 2009 by Iknow LLC.
The KM Professional Services Market 2009
6Copyright © 2009 by Iknow LLC.
- Vertical Market Perspective
- Horizontal Market Perspective
- The Bottom Line
KM Consulting – a Vertical Market Perspective
Pharma & Life Science
- AV & BV
Financial Services
Integrated Manufacturing
Chemical and Process Manufacturing
Professional Services
Public Sector
Non-profit
7Copyright © 2009 by Iknow LLC.
KM Consulting – a Horizontal Market Perspective
Subject matter expertise
Project & Analysis Expertise
Technical/Platform Expertise
KM Expertise (plus…)
Trusted Advisor/Guru
8Copyright © 2009 by Iknow LLC.
KM Market – The Bottom Line
1) Knowledge Management is still relevant
- Still the best term to encompass the broad spectrum of technologies and disciplines involved in optimizing the value of an organization’s intellectual assets.
2) The strategic justification is a major challenge- Business environment of cost-cutting and consolidation
3) The tactical justifications are driven by- Platform consolidation- The search for “intelligent” life- Public sector-graying workforce
4) Finding the right “internal team” and defining their concept
9Copyright © 2009 by Iknow LLC.
KM Consulting –a Career Perspective
- Three Words
- Who Gets the Coffee?
- A-B-C
- Guru-dom
10Copyright © 2009 by Iknow LLC.
Up or Out
- Successful consultants are like sharks – they have to keep moving
- The Big 4 model – up or out – is kind of a constant, either you qualify yourself as a partner, or you eventually land a staff position at a client
- There are staff positions at consulting firms, but it a risky proposition – always the first to go in a downturn.
11Copyright © 2009 by Iknow LLC.
Who gets the coffee?
- In my experience, the key to long-term success in consulting is SELLING, not delivery
- Once you sell, of course you deliver – but the long-term perspective on business development and closing is the engine for growth.
- Consultants who aren’t good at sales, but who are successful, will have a good sales team at their side
- Successful sales in consulting comes in all forms, from cold calling to 100 percent networking
12Copyright © 2009 by Iknow LLC.
A-B-C
- Selling in consulting come in many forms:
- High volume, sales as marketing
- Low-key networking, the country club approach
- Proposal machines
- The all important follow-on
13Copyright © 2009 by Iknow LLC.
Guru-dom
The option to being the big closer/Partner/Principal is to be a Guru.
Requires more of a focus on constantly generating new intellectual property.
Still requires selling and closing, but the IP (books, courses, methods, etc.) are the primary draw.
14Copyright © 2009 by Iknow LLC.
KM Consulting Strategy: 2010 & Beyond
Strategy as the Optimization of a Portfolio of Intellectual Assets
A Textbook Approach
Strategy and the Sole Practitioner
15Copyright © 2009 by Iknow LLC.
Strategy: The Optimization of a Portfolio of Intellectual Assets
- E.g., practice what you preach
- Develop and Leverage your own portfolio of assets
- Capture, classify and develop avenues for distribution of as much of the artifacts of your intellectual effort as possible
- Provides the engine for generating the intellectual assets that move your firm forward
For more info, see The June 2005 Harvard Business Review “Surprising Economics of a "People Business” by Felix Barber, Rainer Strack http://bit.ly/2B0Jtt
16Copyright © 2009 by Iknow LLC.
A Textbook Five-factor Perspective
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Strategic factors driving decisions about allocation of:
- Time/Attention
- Capital (financial/social)
Strategy and the Sole Practitioner
Even sole practitioners faces the need to operate strategically
- “Kill and eat” is not really a strategy
If you’re not operating strategically, you short-change your clients, even if you are totally successful at delivery
18Copyright © 2009 by Iknow LLC.
Seven Keys to Consulting Success
(1) Winning the Proposal Game
(2) Your Give Away
(3) Dealing with Expectations
(4) Moving In – becoming part of the family
(5) Appearing bigger than you are—project yourself
(6) Eating your own dog food—practicing what you preach
(7) Build your virtual team
19Copyright © 2009 by Iknow LLC.
Winning the Proposal Game
Successful proposals don’t simply win you business
- They are the blueprint for maintaining the relationship with the client
Successful proposals usually win on the strength of the team, and the demonstration of capability to perform
- You need to document all your past experience (qualifications) rigorously.
You need to run the proposal through an applicable project management method to clarify scope, identify resources and role, and to manage risk.
20Copyright © 2009 by Iknow LLC.
Your Give Away
You must offer a “freebie” – a lure for potential clients
- A free taste of the services you offer to get them hooked
The BEST charge clients for their give-away.
- It gets the client’s skin in the game.
Make sure that you (and the potential client) don’t confuse your give away with your real offer!
21Copyright © 2009 by Iknow LLC.
Dealing with Expectations
Winning professional services business requires setting high expectations.
The biggest source of suffering in professional practice is the inevitable divergence of expectations once delivery begins.
The client is always right – to a point.
It’s important to establish a partnership with clients that allows give and take.
Don’t be afraid to fire a client.
- In the long run, it’s more important to maintain your professional integrity than to be abused for billable hours.
22Copyright © 2009 by Iknow LLC.
Moving In – Becoming Part of the Family
“Be thou familiar but by no means vulgar..”
You want to cultivate a trusted advisory relationship AND maintain your independence.
This is a high-wire act for consultants.
You have to create your own structure that YOU belong to so you’re not dependent on belonging o the client’s culture and structure.
23Copyright © 2005 by Iknow LLC and Incoda Corporation. Company confidential materials. Do not copy or distribute.
Appearing Bigger—Projecting Yourself
One of the tenets of small business is to find ways to appear bigger than you are.
Overinvesting in image – quality of materials, deliverables, web site, etc. is one way to accomplish this.
Pulling in allies from your network to flesh out your team also can be helpful.
Be smart about this, and also be accurate. Leaving people with an impression is different that mis-representing yourself.
24Copyright © 2005 by Iknow LLC and Incoda Corporation. Company confidential materials. Do not copy or distribute.
Eating Your Own Dog Food—Practicing What You Preach
Vexes every consultant – focus should be on delivery and new business development.
But especially in a discipline like KM, it’s important to be able to lead client – to show a vision, to open their eyes.
Practicing KM internally – no matter your size – expands the boundaries of your professional capabilities.
25Copyright © 2009 by Iknow LLC.
Build your Virtual Team
Consultants are expected to be experts in their disciplines.
- But too often they think that their expertise in a domain extends to other domain.
Beyond your professional cadre, it’s important to build a social network that’s balanced with people who have key skills.
Train your team’s eyes to spot opportunities for you.
- They should be clear about what you do that they can reliably identify an obvious opportunity back to you.
26Copyright © 2009 by Iknow LLC.
Conclusions & Takeaways
27Copyright © 2009 by Iknow LLC.
Have an up-to-date, market-responsive strategy
Over-invest in image
Charge for your give away
Maximize your on-line footprint with a digital asset strategy
Questions
28Copyright © 2009 by Iknow LLC.