odyssey-the business of consulting executive briefing
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Build, grow and transform your consulting business Learn Odyssey: The Business of Consulting to generate better revenues with the right clients. Webinar- Coach supported with a residential Master ClassTRANSCRIPT
EXECUTIVE BRIEFING
Odyssey :The Business of Consulting™
How to Build, Grow and Transform Your Consulting Business
Your Presenters
Imelda K Butler
Chairperson
Odyssey Transformational Strategies
Dr Shayne Tracy
Director
Odyssey Transformational Strategies
What We Will Achieve Today
1. You will receive “golden nuggets” that will give
your consulting business a kick-start
2. You will change your “paradigm” on how you
view your consulting business
3. You will see the opportunity to build, grow and
transform your consulting business
4. You will have the opportunity to assess the
value Odyssey: The Business of Consulting
will add to YOU and your consulting business.
© 2012 Odyssey Consulting Institute™ 3
The “Business of Consulting”
© 2012 Odyssey Consulting Institute™ 4
Consulting has grown at 16.1% per annum over the last 10 years
It is a $120 billion industry and more than 1,000,000 consultants
The big players take $60 billion almost automatically and $60 billion
is divided up between small firms and independent consultants
That averages out at $120,000 charge out fees per consultant but,
the 80-20 rule rules!
Odyssey: The Metaphor
Greek term: a long and adventurous journey
the journey to join the top 10% of Consultants
worldwide in terms of : best practices client quality,
income, professionalism, personal fulfilment.
© 2012 Odyssey Consulting Institute™ 5
Our History
Founded in 2005 by John and Imelda Butler in Dublin, Ireland with
a vision to transform and inform “The Business of Consulting”
Over 100 graduates from US, Europe and Canada
Surveys demonstrate significant results for graduates’ personal
lives and consulting businesses
© 2012 Odyssey Consulting Institute™ 6
Mission Statement
We partner with our consultants to create corporate strategic
advantage by embedding innovative thought work, strategies
and systems to help transform cultural,
strategic and human capital.
© 2012 Odyssey Consulting Institute™ 7
Transformational Masterclass
Trusted Advisor
Competent ConsultantOCCOTA
OTM
LEVEL 2
LEVEL 3
LEVEL 4
LEVEL 1
OMMovement
OLTLeadership Team
Odyssey: The Business of ConsultingGlobal Corporate Transformation
2 Phase Business Process
Three Aspects Of Professional Service Firms
Applicable To Consulting
© 2012 Odyssey Consulting Institute™ 9
Resource Base
Organization Form
Professional Identity
Professional Service Firms
Resource Base
Relatively limited physical resources and their value
derives primarily from their professional staff,
specifically the technical knowledge, expertise and
experience which they possess
The management of knowledge and “the knowledge
worker” is, therefore, fundamentally important to them.
The asset is knowledge and expertise
© 2012 Odyssey Consulting Institute™ 10
Professional Service Firms
Through the partnership form of governance,
professionals in professional service firms
experience a higher degree of autonomy than they
would typically enjoy in conventional bureaucratic
structures
Those professional service firms which have adopted
the corporate structure may still attempt to imitate
elements of the partnership form
© 2012 Odyssey Consulting Institute™ 11
Organization Form
Professional Service Firms
Firm members identify themselves as professionals
and are united by a shared understanding of the
concept of professionalism.
This professional identity is often associated with
the rhetoric of independence and exemplary ethics
but may be redefined within professional service
firms to focus on exceptional commitment to clients
and quality of service
© 2012 Odyssey Consulting Institute™ 12
Professional Identity
$$$$ and Cash Flow
Investor
Business Owner
Self-Employed
Employee
Business Perspective
Fixed $Limited Cash Flow
FlexibilityTime
Purpose
Vs.
The Professional Consulting Firm
Sell Standard Products
(with services)
Transactional Volume
Approach(via retail or sales staff)
Highly Customised
Service Delivery(portfolio of solutions)
Personalized Delivery through
Talented Professionals
(via professional consultations)
The Normal Business Enterprise
Distinctiveness of Professional Service Firms
Revenue? Profit?
© 2012 Odyssey Consulting Institute™ 14
Physical
LEVEL 1
Hand
Doing
UnconsciousIncompetence
Good Soldier
LEARNING
RESPONSE
CONSULTANT
APPROACH
HUMAN
Intellectual
LEVEL 2
Thinking
Conscious Incompetence
Competent Warrior
Emotional
LEVEL 3
Feeling
Conscious Competence
Trusted Advisor
Spiritual
LEVEL 4
Being
UnconsciousCompetence
Master Practitioner
Head
Soul
Heart
Parallel Process Levels in the Odyssey Journey
Consulting Strategies
2 Strategies to: Increase fees
Attract better clients
Have more free time, quality of life
S1 Business focus
S2 System’s View
© 2012 Odyssey Consulting Institute™ 16
“You are only as strong as your weakest link”John Butler
The “Business Chain of Consulting”
© 2012 Odyssey Consulting Institute™ 17
YOUWisdom, Skill, Talent, Competencies, Expertise, IC, SC, Thoughtware
Finance
Product and
Services
Physical Resources
People
Time
Human Capital
What do you need to learn/change to put
more money in your pocket this year?
1. Value Appreciation
2. Monetizing Metrics
3. Positioning Yourself
4. Value-Fees Strategy
5. Commitment to Change
© 2012 Odyssey Consulting Institute™ 18
Value Appreciation vs. Commodities Thinking
Could you have bought it cheaper………..?
© 2012 Odyssey Consulting Institute™ 19
Lessons from Classic Mistakes
© 2012 Odyssey Consulting Institute™
Mistakes and Lessons
1. Mistake: Working with the “wrong client”
Lesson: Identify the “ideal” client-fire the wrong ones!
2. Mistake: Selling products/services and undercharging
Lesson: Learn “value appreciation” for self and client
3. Mistake: Poor attraction mechanisms
Lesson: Learn methods and processes and make time
4. Mistake: Underselling yourself-The “Imposter Syndrome”
Lesson: Learn to develop, appreciate and promote your talent and wisdom with confidence and trust
© 2012 Odyssey Consulting Institute™ 21
Critical Factors of Transformation
© 2012 Odyssey Consulting Institute™ 22
The Two Critical Factors than can
Transform your Consulting Practice?
1.What is your point of preeminence?
2. What is your unique factor?
CONFIDENCE
COMPETENCE
© 2012 Odyssey Consulting Institute™ 23
Why Say ‘Yes’ to the Odyssey Process?
Invest in yourself and the ‘Business of Consulting”
Learn the Odyssey system, proven methodologies and processes
“Learn more, earn more!”*
Work less, make more money and have more flexible, free time
It’s your time to learn a system and to change your consulting
paradigm and your life……..and
To achieve your Purpose!
*Brian Tracy
© 2012 Odyssey Consulting Institute™ 24
Case Studies
1. Two weeks after Odyssey we signed up a $50,000 per month deal for 15 months.
We were charging a lot less to the same client before Odyssey. Before taking
Odyssey we could be characterized as an “everything to everyone” type business.
In fact, Odyssey has fundamentally changed the way we do business
2. The relentless application of the Odyssey methodologies has resulted in me
quadrupling my consulting revenue in two years, from about $250K to over $1
Million per year and having greater impact on the success of my ideal clients.
Odyssey was the critical missing factor.
3. When I signed up for Odyssey my consulting business was in a rut at $100-150K
per year. Before I was a third of the way through Module 3, I had recouped my
investment and doubled the contract revenue for the same client using what I
learned. The client didn’t blink! Should have done this program 3 years earlier!
© 2012 Odyssey Consulting Institute™ 25
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What You Must Do For Success
Leadership not competitorship!
Learn the model and methods for
attaining and retaining quality clients
© 2012 Odyssey Consulting Institute™ 26
Key Attributes of the World’s Top 15%
Realism: What is the “truth” about your “Business” of Consulting?
Responsibility: Do you have the courage and conviction to respond to the
“business at hand”
Boldness: Are you prepared to act despite the “fear”
Purpose : What is your life/work purpose
© 2012 Odyssey Consulting Institute™ 27
Odyssey Turbo Strategies
TurboStrategy 1 TurboStrategy 2
TurboStrategy 3
TurboStrategy 4 TurboStrategy 5
Leverage Your Expertise
and Experience
Do Executive Briefings
Value Appreciation
Value Delivered
Then Fees
What is the Picture In
Your Head?
Your Client’s Head?
© 2012 Odyssey Consulting Institute™ 28
What Business
Are You In?
Reflection and Action Steps
1. Most important emerging point ?
2. Second most important emerging point?
3. Third most important emerging point?
“All true learning comes from Behavioral Change”
© 2012 Odyssey Consulting Institute™ 29
Transformational MasterClass
Trusted Advisor
Competent ConsultantOCCOTA
OTM
LEVEL 2
LEVEL 3
LEVEL 4
LEVEL 1
OMMovement
OLTLeadership Team
Odyssey: The Business of ConsultingGlobal Corporate Transformation
2 Phase Business Process
Odyssey Competent Consultant™ Outline
© 2012 Odyssey Consulting Institute™ 31
Odyssey Trusted Advisor™ Outline
© 2012 Odyssey Consulting Institute™ 32
Odyssey Transformational MasterClass™ (OTM)
© 2012 Odyssey Consulting Institute™ 33
Odyssey Graduates Speak
I want you to know that even though my billings do not reflect $1M, I am grateful every day that I now
have a better way to run my consulting business, I am not the fastest - I am the most consistent.
I learn by doing and I will continue to practice what I have learned on a daily basis and continue to
sharpen my saw. I am moving forward because of YOU and this program. Thank you
Odyssey has paid for itself and only now is germinating into the sizeable ROI that it can deliver.
The biggest result, thus far, is the shift in my mindset and business model. It is starting to pay dividends
and I believe I will really see results in 2013
Odyssey showed me how to monetize my solutions w/a client/potential client, how to think BIGGER
about fees and solutions offering, how to pen sell, the difference between level 1 and level 4 consulting
and where I was operating…. and where I wanted to operate…..and how to be better at the "business
of consulting" BMR process and getting out of my own way!
© 2012 Odyssey Consulting Institute™ 34
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Odyssey Alumni Benefits
© 2012 Odyssey Consulting Institute™ 35
Odyssey Follow-up
Certification (OCC)
Membership in the Odyssey Movement™ Alumni
Part of the Odyssey Consulting Network
Odyssey: The Business of Consulting™
Teaches You ...
© 2012 Odyssey Consulting Institute™ 36
How to advance from a Competent Consultant to
‘Respected Level 4 Master Practitioner’ in your chosen profession
Business, marketing and financial strategies for consulting business
you can apply immediately
Maximize your ROI and fulfill your true purpose and potential
while serving your clients to achieve strategic results
How to develop a consulting business model that works for you and your clients
The comrade-ship of being part of a non-competitive
community of like-minded professionals.
Global Corporate Transformation™
© 2012 Odyssey Consulting Institute™ 38
THANK YOU!
Odyssey :The Business of Consulting™
How to Build, Grow and Transform Your Consulting Business
International:
Imelda K ButlerChairperson
Phone: 353 1 4595950
email:[email protected]
LinkedIn: www.linkedin.com/in/imeldabutler
Skype: imeldabutler
CONTACT DETAILS
North America:
Dr Shayne TracyDirector
Phone: 001 416 7370407
email: [email protected]
LinkedIn: www.linkedin.com/in/drshaynetracy
Skype: Shayne.Tracy
www.OdysseyTransform.com