mbo partners webinar become a preferred client for top enterprises

Land Your Next Client: Become a Preferred Consultant for Top Enterprises

September 22, 2016

Deepak Lalwani & Associates, LLC


http://www.deepaklalwani.com/

http://www.linkedin.com/in/deepaklalwani


Moderator

Sara Conde Director, Consultant Services

MBO Partners

2 Deepak Lalwani & Associates, LLC




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Deepak Lalwani - Deepak Lalwani & Associates, LLC


For more information, please visit www.deepaklalwani.com.





Table of Contents / Outline

Background

• The rise of the independent workforce (Solopreneurs)

• Key trends driving the need for independence

• What companies / employers want from independents

• Independents want control in choosing clients

• Contracting vs Consulting – what’s the key difference?

The Importance of Marketing and Business Development

• Establish Your Credibility

• The concept of Marketing Gravity

• Marketing Your Services

• What’s Worked for Me

• Things to Watch Out For





Become a Preferred Consultant for Top Enterprises

A study by Deloitte Consulting shows that more than half (51%) of corporate HR respondents stated their need for contingent workers

will keep growing over the next three to five years

Deepak Lalwani & Associates, LLCGlobal Human Capital Trends 2015 study by Deloitte Consulting





Background





The rise of the independent workforce (Solopreneurs)

• Solopreneurs (or independent workers who work 35 hours or more per week), are major contributors to the US economy and are significant drivers of economic growth.

• Independents generated more than $1.1 trillion of total US revenue in 2015

• Independent workforce headcount numbers (approximately):

• 32 million in 2011

• 40 million in 2016

• 49 million by 2021 (forecasted)

10

* The Rise of the Supertemp by Harvard Business Review* 2016 State of Independence of America Report by MBO Partners* A Labor Market that Works: Connecting Talent with Opportunity in the Digital Age by the McKinsey Global Institute

More in more, contractor positions are being held by educated and highly skilled professionals. Great article by Harvard Business Review called “The Rise of the Supertemp”





Key trends driving the need for independence

11 * The Future of Work – Here’s Why The Freelancer Economy is on the Rise by Fast Company

There are many reasons why independent work is on the rise:

Companies / Employers

• Shifting economic conditions (the great recession, for example)

• Corporate downsizing (mergers / acquisitions, cost reduction opportunities, outsourcing, restructuring)

Workers

• Millennial needs / work-life balance

• Decrease in job security

• Affordable Care Act (Obamacare)

• Project Management talent matching platforms (Project Management Talent, Project Execution Network, A-Connect)


http://projectmanagementtalent.com/

http://projectmanagementtalent.com/

http://projectexecution.com/

https://www.a-connect.com/




What companies / employers want from independents

12 * Your Company Needs Independent Workers by Harvard Business Review

Companies need to broaden their definition of what it means to be a “great place to work”

• Companies increasingly need a flexible workforce to compete globally

• Company leaders are turning to independent workers to increase business flexibility and agility

• Independent workers allow them to quickly and efficiently scale staffing up and down

• Helps meet shifts in demand and changing business circumstances in an increasingly volatile global economy





Independents want control in choosing clients

13* Your Company Needs Independent Workers by Harvard Business Review

Independents are skilled professionals in demand. They realize they are able to make the same or even more money being independent.

• Many skilled professionals want independence and control over their work.

• Contingent work allows them greater work/life flexibility, autonomy, and control over their careers.

• Over 80% of these professionals say they can choose what to work on, and who to work with.





Contracting vs Consulting – what’s the key difference?

• Contracting or sub-contracting typically means working through another business to get staffed to a new client or project. Key takeaway – Your on somebody else’s paper, and your margins may be less

• In this context, consulting means typically going ‘direct to client’ rather than working through a middle man. Key takeaway – You’re on your own paper with the client, and your margins should be more

• I call out this distinction because you may find yourself in either camp, or even both in your IC journey

• Don’t let ego or pride get in the way of your decision. There’s nothing wrong with contracting or sub-contracting, especially since it’s a challenge to get through the procurement process with large organizations as an independent consultant.

• Bottom Line – I would strongly consider doing both! Pursue both channels, especially since you never which channel will take longer to materialize






“Some consultants disdain marketing their services, and others relish in it. Needless to say, if you don’t do marketing, you will soon

be an ex-consultant”

Deepak Lalwani & Associates, LLC* Katcher – An Insider’s Guide to Building a Successful Consulting Practice





The Importance of Marketing and Business Development





Establish Your Credibility

Repute - Collect testimonials• Great way to establish your credibility in eyes of your prospects• Can use all types of people in your professional network• Keep them short and to the point• Very easy to have them added to LinkedIn today

Word of Mouth - Obtain referrals• Referral to a qualified prospect from a satisfied client is a powerful way for establishing

credibility• It’s important to ask satisfied clients, previous employers, and respected colleagues if

they would be willing to tell others about the value you provide

Show your Body of Work – Have a digital presence • LinkedIn - Add Posts, Publications, Honors & Awards, Summary, Experience, etc. • Website - Approach, Services, Case Studies, Clients, etc.


The key to establishing credibility is to leverage the credibility of others. And testimonials and referrals are effective methods for transferring the trust others have in you to your prospects

https://www.linkedin.com/in/deepaklalwani





The concept of Marketing Gravity

Marketing Gravity – Shows how to stimulate people contacting you at any stage of your career, from newbie to veteran. So instead of cold calling people, you are using these ‘marketing levers’ to draw people to you.

18 Deepak Lalwani & Associates, LLC* Weiss – Million Dollar Consulting: The Professional’s Guide to Growing a Practice

Click link for video

• Great framework and concept to draw people to your brand and value

• You may be more interested in some more than others

• Changes the dynamic – people approach you rather you approaching them (ex: cold calling)


https://youtu.be/4Hfd4WoZwEY?t=23s



Marketing Your Services Through Writing

Write White Papers • An authoritative report that addresses a specific issue or problem• Writing and distributing a white paper probably will not yield immediate new clients

Publish Articles• Prospects may assume that if someone thought well enough of your article to publish it, you must

know what your talking about• Consultants may be reluctant to try to write articles because they are under the belief that it’s difficult

to have them published, but trade publications are hungry for content• It’s important to target publications that are credible and read by your target market

Publish Books• A book, a powerful demonstration of your knowledge and competence, is considered the ultimate

marketing piece• Advantages of using an established publisher include the credibility you will receive in the

marketplace, their distribution system, and their help marketing the book to bookstores and the media

Publish a Newsletter (Print or Electronic)• Great way to keep in periodic contact with your network and prospects• Focus on providing value. It should provide useful content to your readers• Other key takeaways: Publish it regularly, it will also help fuel your network

19 Deepak Lalwani & Associates, LLC* Katcher – An Insider’s Guide to Building a Successful Consulting Practice

Click here for newsletter!


http://us9.campaign-archive1.com/?u=07bc8540c57f635207cde148c&id=4ac076b436

http://us9.campaign-archive1.com/?u=07bc8540c57f635207cde148c&id=4ac076b436



Marketing Your Services Through Writing (cont’d)

Write a Blog• Invites readers to comment on your entry, serve as passive portals (people need to visit them), and it’s

open to everyone

Proposal Writing• You’ve gained a good understanding of their pain and their objectives• Focus on gaining their trust, and talk through your methodology, timing, and cost• Should be the culmination of meaningful interactions you’ve had with the client• The proposal will be a written statement of what you’ve already agree upon in principle

Advertising• Effective method for maintaining your visibility in the marketplace• Allows you to reach many more prospects than most other marketing techniques• Key Takeaways: Advertise in the right publication, do it consistently, address benefits, and track their

effectiveness

Write Press Releases• Another method of marketing that provides the opportunity to maintain your visibility with a wide audience• Major objective is to get mentioned as an industry expert in a publication read by your prospects

Maintaining Your Website• There’s value for independent consultants to maintain a website. It serves as a digital ‘brochure’• Defines who you are, what you do, and established your credibility in the marketplace

20 Deepak Lalwani & Associates, LLC* Katcher – An Insider’s Guide to Building a Successful Consulting Practice





“If you don’t blow your own horn, there is no music”

Deepak Lalwani & Associates, LLC* Weiss – Million Dollar Consulting: The Professional’s Guide to Growing a Practice




Marketing Your Consulting Through Speaking

Guest Speaking (in-person, webinar)• Often it’s worthwhile to deliver a speech that’s unpaid to the right audience• For most consultants, fees from new business will be more lucrative than speaking fees• Ideally, look to speak to people who can hire you, or at least recommend you to others• Be strategic about where you speak, improve your speaking skills, practice your

speech, and…• Remember your objective – your goal is to ultimately convert members of the

audience into clients!

Conduct Radio and TV Interviews• Allows you to maintain your visibility with potential prospects, and those who can refer

you to prospects• Consultants gain interview opportunities by directly contacting the interviewers /

production staff, submitting press releases to the program, or working through a contact (such as an agent, publicist, or marketing professional)

Other Ways• Business / interview panel• Teach a course





Marketing Your Services Through Networking


Here are seven ways to touch members of your NETWORK:

• (N) Newsletter – our entire network should receive your newsletter. It shouldn’t be an advertisement, but rather provide content that’s useful and valuable

• (E) E-mail – Share information such as articles that you may find interesting, or link to website that may be useful to them

• (T) Telephone – Check in and touch base calls are appropriate. You can also share some information or follow up about work you may have done for them. Ideally, you want to provide value. Also asking them for advice can be helpful

• (W) Work the crowd at professional meetings – Make sure you connect with your key contacts, and spend time speaking with them

• (O) Oral meetings – Connect in-person over coffee, breakfast, lunch, or dinner

• (R) Relax – Invite your key contact to a fun event such as a happy hour or a ball game

• (K) Kindness – Show them acts of kindness by sending a birthday or holiday card

* Katcher – An Insider’s Guide to Building a Successful Consulting Practice





Maintain Contact with Your Network• Some of the best source of leads for new business are former clients who were pleased

with your work• How will you keep in touch with them? (see prior slide)• Host a Networking Event – Business & Technology of Greater New York

Attend Professional Meetings• Identify professional meetings attended by your prospects, fellow consultants, and those

in your specific discipline• Look for opportunities to help others by providing useful information or making

introductions• Consider becoming part of a professional association (or create one); most professional

associations need help from volunteers

Develop Relationships with Service Providers• Having relationships with key service providers can lead to business referrals• Identify which service providers conduct business in your target market

How to Use Your Network to Get More Work(What’s Worked For Me!)

Networking is one of the most effective approaches to market your consulting services!


http://www.meetup.com/btgnewyork/



Things to Watch Out For, (and Mistakes I’ve Made … So You Don’t Repeat Them)


• Be Flexible

• Be Open to Contracting or Consulting

• Consider Developing a Niche

• Scan your Environment, and Be Ready to Change

• Invest in Yourself and Your Business

• Understand Which Business Development Opportunities Work Best for You

• Know and Understand your Travel Preferences

• Don’t Take an Opportunity Just for the Money

• If an Opportunity Doesn’t Feel Right, say “No” to a Prospect




Thank you for participating!



