Introduction to Consulting

In this lecture we talk about what being a consultant means for you when it comes to salary. We also talk about how higher than average salaries as a consultant means that the work you do is not simple but full of ambiguity.

In this lecture we discuss what it takes to be a successful consultant. A good deal of what it takes is being a visible professional, and having what is called "conversational competence". One good part of working for a consulting firm (rather than starting your own firm) is that you will pick up a great deal of conversational competence from being around your consulting colleagues and being with clients.

Up to 70% of clients leave their consulting firm as a result of the actions of one consultant on the team. Usually this has nothing to do with the work being performed and everything to do with the person performing the work. The impression you make on others is important, and making a good first impression is critical.

In this lecture we talk about handling what is often the first question from a consulting firm looking to hire you, or a client looking to find out more about you as a consultant: "Tell me about yourself...?"

LinkedIn the professional version of Facebook. With over 500 million subscribers, LinkedIn is a global force. I have consulting firms tell me that they won't even hire someone unless they have a LinkedIn profile, and I have had former students tell me that their consulting firm recruiters just use a person's resume for the name to look them up on LinkedIn.

In this lecture we talk about getting yourself set up on LinkedIn correctly.

Crafting a good resume is critical to getting hired by a consulting firm. It is also a critical piece of documentation when a consulting firm is pitching to be hired by a client for a project.

In this lecture we talk about crafting a skills-based resume that focuses not on a chronology of what you have done (which is a traditional resume) but on the skills you bring to the table right now for the consulting firm or client.

Clients of consulting firms are not going to need a cover letter from you. This is only for when you are applying for a consulting position at a consulting firm. The cover letter is a critical component of the application process as it shows how you engage in communication professionally.  This lecture shows you what goes in a great cover letter to a consulting firm.

If you understand how money is made by a consulting firm, then you can make sure you play your part in the process as well as possible.

In this lecture we talk about the different levels within a consulting firm, which I call finder, minder and grinder.

We then discuss the #1 metric in consulting, which is chargeability - what it is, how it is calculated, and why it matters to the consulting firm and to you.

The #1 metric as a consultant is chargeability. In this lecture we discuss how you can impact your own chargeability.

For a consulting firm, the way they know the firm is successful (not necessarily the consultants themselves, but the firm itself) is how much profit each consulting engagement makes. In the consulting world this is called realization.

In this lecture we discuss what realization is, how it is calculated, and what can impact it.

We work an example of a consulting firm to show how all the pieces fit together: people, rates, chargeability, and overhead.

This section deals with people. How many managers and staff consultants are needed based on how many partners there are.

We work an example of a consulting firm to show how all the pieces fit together: people, rates, chargeability, and overhead.

This section walks through a template to help you solve the case.

We work an example of a consulting firm to show how all the pieces fit together: people, rates, chargeability, and overhead.

This section walks through the solution from start to end.

Partners in a consulting firm don't get paid a regular salary. They take "a draw" from the consulting firm's earnings.

In this lecture we discuss how partners in a consulting firm get paid.

We worked an example of a consulting firm to show how all the pieces fit together: people, rates, chargeability, and overhead.

In this lecture we show how all these pieces interact. If you make a change in one place, there are consequences in other places. If the partners want to make more money, we show how they could get this done, and the consequences of each change they make.

In this section of the course we are walking through an actual consulting proposal.

In this lecture we cover the cover sheet, or front page of the proposal.

In this section of the course we are walking through an actual consulting proposal.

In this lecture we cover the table of contents for the proposal.

In this section of the course we are walking through an actual consulting proposal.

In this lecture we cover the problem statement, which is the problem that the consulting project that this consulting proposal is about is hoping to solve.

In this section of the course we are walking through an actual consulting proposal.

In this lecture we cover the statement of work, or the approach that will be used to do the work that this consulting proposal is proposing.

In this section of the course we are walking through an actual consulting proposal.

In this lecture we cover the major assumptions that are critical in writing the proposal.

In this section of the course we are walking through an actual consulting proposal.

In this lecture we cover project staffing and how to present that in the proposal.

In this section of the course we are walking through an actual consulting proposal.

In this lecture we cover the fees for the proposal how to present them. We will cover exactly how to come up with a budget for a consulting engagement in a different section of this course.

In this section of the course we are walking through an actual consulting proposal.

In this lecture we cover expenses, and how you present them in a consulting proposal.

In this section of the course we are walking through an actual consulting proposal.

In this lecture we cover adding terms and conditions to the proposal. These are standard and largely legal parts of the proposal and whilst important don't change much at all from engagement to engagement.

In this section of the course we are walking through an actual consulting proposal.

In this lecture we cover how you add references from other work you've done and your resumes to the consulting proposal.

In this section of the course we are walking through an actual consulting proposal.

In this lecture we cover what it takes to convert a consulting proposal to a consulting engagement.

We have worked our way down from a firm-level of understanding how money is made and now we are at the individual engagement level. Key concepts such as realization come in to play here. Understanding how a budget is made up, and where you fit in to that budget is very important to your success, as you will be measured very closely against the budget.

We look again at how money gets made at the firm-level and bring the important parts of that, which includes realization, to budgeting the engagement.

Immutable means that you can't change it. In this lecture we look at how the ways scope, cost and schedule of a consulting project interact with each other are immutable (unchangeable).

A continued discussion of the immutable consulting triangle of cost-scope-schedule with examples of how it works.

As we continue our important discussion of the immutable consulting triangle of cost-scope-schedule we now apply to clients.

The immutable triangle of consulting, scope-schedule-cost, is indeed unchangeable, as is the dimension of quality, which we talk about in this lecture.

In this lecture I talk about how the immutable triangle of cost-schedule-scope applies to healthcare

The timeline is a critical component of every budget. As we discussed in the immutable triangle of consulting, scope-cost-schedule are all inter-related so you need to make sure that the timeline for the project is reasonable and achievable.

If you are budgeting an engagement, knowing how big a task is is an important part of the process. We discuss how to work with this in this lecture.

In this lecture we give you advice, tips, for budgeting well.

What did you promise you would do in your consulting proposal? In this lecture we discuss making sure that what you said you would do for your consulting client is what you are actually budgeting to do in your consulting budget.

In this lecture we start the process of walking through an actual Excel spreadsheet of a real consulting engagement so you can see how all the pieces fit together.

As we walk through the Excel spreadsheet for this real consulting engagement we take a look at how administrative expenses are factored in.

As we continue our walk through of a real Excel spreadsheet for a consulting engagement we are now in to the heart of the spreadsheet where we have people and the hours they spend on various parts of the project.

The first output from a consulting budget spreadsheet is called Fees at Standard. This is the fees that a client would pay for the work to be done at standard rates.

Consulting work is rarely done at standard rates. In this lecture we discuss how we use a real consulting Excel spreadsheet to figure out what the fees would be for the client at various estimated realization percentages.

Meetings are a critical and common part of the consulting day. This section of the course is all about preparing for and running a consulting meeting. This lecture introduces this section.

Collecting information is how work gets done in consulting. In this lecture we introduce the different types of information that can be collected.

The actions of just one consultant on the team can cause a client to leave their consulting firm. Since meetings are the primary mechanism for getting work done as a consultant, we talk in this lecture about why handling meetings well is so important.

Meetings or interviews are full of questions.  In this lecture we talk about the different types of questions you can ask as a consultant.

In this lecture we talk about asking the right sorts of questions in your consulting meeting to get answers that will be useful to you.

In this lecture we give you some prescriptions for success in your questioning techniques.

Knowing what is wrong is almost more important than knowing what is correct.   In this lecture we discuss incorrect ways to ask questions.

There are three steps to running an effective consulting meeting: planning, execution and follow-up, which we discuss in this lecture.

Planning for a consulting meeting is absolutely critical. This lecture is the first step in an extensive and detailed discussion of how to properly plan for a consulting meeting.

We are now in to the heart of planning for your consulting meeting. In this lecture we walk through some critical steps.

We are now in to the heart of planning for your consulting meeting. In this lecture we walk through some more critical steps to ensure your success.

We have planned well for our consulting meeting to give us the highest probability of success. It is now right before the meeting and there are several things we can do to prepare ourselves for the upcoming meeting.

We continue our lecture on how to prepare yourself for the forthcoming meeting.

It is 15-20 minutes before your consulting meeting. This lecture is about preparing yourself to ask good questions during the meeting, and how to document those questions and prepare for the answers.

Dressing the part is an important part of making your clients feel comfortable. This lecture is about how to know what to wear to your consulting meeting.

1-2 minutes before the consulting meeting starts. It is time to mentally prepare yourself for the meeting now that all your preparations are complete. This lecture is about getting your head in the right place.

What does a meeting space look like, and where should you sit?  This lecture shows you a typical meeting room setup and shows you where people typically sit during a consulting meeting.

This lecture shows you a technique I use with business cards to allow you to know who you are talking to during your consulting meeting.

We are in the first 1-2 minutes of the meeting. Establishing rapport with your client is important, which we discuss in this lecture.

As a consultant, your client deserves 100% of your attention. This lecture discusses how to turn your cellphone off in a way that shows your client you are given them your undivided attention.

Your clients often have 101 other things going on, not just the consulting project that for you is 100% of what you are currently doing. It is easy to make the mistake that your client knows exactly what is going on with your consulting project, and why you are doing it. This lecture is about confirming the purpose of your consulting meeting so you don't make this mistake.

The best place to start your meeting is confirming current information with your client. This lecture is about doing this.

This lecture is about the specifics of how to conduct a consulting meeting well.

Many clients find it hard to talk to consultants. This lecture is about how to draw out information from your consulting clients.

One of the best words to use in a consulting meeting is "clarify". "Could you please clarify that?" The word shows that you don't fully understand what the client is saying without placing a positive or negative judgment on the client. This lecture talks about using the word "clarify" in consulting meetings.

In many consulting meetings you will need to show your client a document. This lecture talks about how to do that properly.

There is a standard, efficient and highly effective way to end every meeting. In this lecture we show you exactly what that is.

It is easy in any environment to ask questions to which, given social norms, almost everyone will answer only one way because they know that they are expected to. In this lecture we discuss these issues of avoiding questions that come loaded with social desirability.

Listening to understand rather than listening to respond is a critical skill for consultants. In this lecture we discuss how to do this.

There will come a point, if not several, where you will lose control of a consulting meeting due to mistakes you make or just because today is that day. In this lecture we discuss how to handle this.

Documents are a critical resource for any consulting engagement. In this lecture we tell you about the documents you can and should ask for, as well as how to ask for those documents.

Filing your consulting documents and meeting notes is a menial task which if done poorly can have a huge impact on your consulting project. In this lecture we discuss how to do filing well.