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How to Leverage Thought Leadership
to Build a Consulting Practice




         Lane Cooper                    Gene Zaino
  Founder & Principal Director        President & CEO
  Cooper Research Associates           MBO Partners




     Consulting Made Easy        © 2009 All Rights Reserved for Cooper Research Associates   1
    www.mbopartners.com
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“We make it easy for independent consultants and
                their clients to work together”




                            “If you’re thinking about going out on your
                            own, the MBO way is the way to go; just let
                            them handle everything and it will make it
                            easier for you and your client.”
                            Dawn Alexander, Communications Attorney




     Consulting Made Easy
     www.mbopartners.com
The Independent
Consultant Option
                           Replace: Find employment
                           that is commensurate with
                             talent and experience


                           Reduce: Lower sights, take
                           positions for which you are
                                  overqualified


                           Revamp: Launch consulting
                              practice as interim or
                            permanent career strategy

    Consulting Made Easy                   © 2009 All Rights Reserved for Cooper Research Associates   4
    www.mbopartners.com
Common Fears and Barriers

                                     Fear 1:
                          Uncertainty of ability to earn



                                     Fear 2:
                          Loneliness…Can I go it alone?


                                     Fear 3:
                           Lack of infrastructure and
                              institutional support

   Consulting Made Easy                     © 2009 All Rights Reserved for Cooper Research Associates   5
   www.mbopartners.com
Getting Started with
Business Focus Assessment

                                   Your mission?


                                       Why?


                           What issues are you interested
                                    in solving?

                           Why do these issues make you
                                    passionate?

    Consulting Made Easy                   © 2009 All Rights Reserved for Cooper Research Associates   6
    www.mbopartners.com
Market Challenge
Statement Development

                           Issues: What is the problem you
                                  seek to address?



                              Consequences: What is the
                             problem costing your potential
                          clients in terms of time, money and
                                    human resources ?


                             Validation: Are there proof
                           points/stats that document these
                                       problems?



   Consulting Made Easy                     © 2009 All Rights Reserved for Cooper Research Associates   7
   www.mbopartners.com
General Solution
Statement Development

                          Your Consultative Approach:
                          How do you propose to help your
                           clients address this challenge?



                          Anticipated Outcomes: What is
                          the specific list of benefits clients
                             get from working with you?



                            Track Record: How have you
                          secured these benefits in the past?




   Consulting Made Easy                      © 2009 All Rights Reserved for Cooper Research Associates   8
   www.mbopartners.com
Target Market Analysis

                                     Horizontal – Corporate discipline
                                   (Marketing, Operations, Finance, etc.)




                                   Level – What is is your entry point? (C-
                                      level, VP, Director, Management)




                           Vertical – What industries do you serve? (Gov., Financial
                                 Services, Manufacturing, Retail, Energy, etc.)




    Consulting Made Easy                             © 2009 All Rights Reserved for Cooper Research Associates   9
    www.mbopartners.com
Prospect Profile Analysis

                            WHAT DOES YOUR IDEAL PROSPECT
                                     LOOK LIKE?



                              Strategic Assessment: What are
                               prospects’ long-term objectives



                              Operational Analysis: Critique of
                           current practices, and alternative options



                             Financial Situation: How does cash
                           position or disposition affect engagement


    Consulting Made Easy                          © 2009 All Rights Reserved for Cooper Research Associates   10
    www.mbopartners.com
Lead Source Assessment

                            WHERE ARE ORGANIZATIONS AND
                           EXECUTIVES THAT MEET YOUR IDEAL
                                  PROSPECT PROFILE?



                                     Current Rolodex




                                Key groups and associations




                              Social Networks (Linkedin, etc.)



    Consulting Made Easy                       © 2009 All Rights Reserved for Cooper Research Associates   11
   www.mbopartners.com
Business Model
Options Analysis

                    HOW CAN CLIENTS ENGAGE WITH YOU
                      TO TACKLE THESE CHALLENGES?


                             Project-based (Value-pricing)


                           Hourly-based (Time and materials)


                            Retainer-based (Use it or lose it)


                                    Other/Combo?



    Consulting Made Easy                        © 2009 All Rights Reserved for Cooper Research Associates   12
    www.mbopartners.com
Service Catalog based on
Engagement Lifecycle

                                Assessment/Diagnosis


                           General Prescription and Options


                               Roadmap Development


                            Implementation Services and
                                     Support

                             Progress and Project Impact
                                    Assessment

    Consulting Made Easy                     © 2009 All Rights Reserved for Cooper Research Associates   13
    www.mbopartners.com
Sales & Marketing
Strategy Development Tools

                               Web Site Design and Set Up



                           Collegial Calls --Who are people you
                              know and can bounce potential
                                     proposals off of?


                            Cold Calls -- Who are people you do
                            not currently know but would like to
                             bounce potential proposals off of?


                           Lead Generation & Follow-up -- How
                           can we generate leads…and what is our
                                    follow-up strategy?

    Consulting Made Easy                        © 2009 All Rights Reserved for Cooper Research Associates   14
    www.mbopartners.com
Sales & Marketing
Strategy Development Tools

                              Media Marketing:
                            What trade press (print
                            and online) does your
                           target market consume?



                               Are there article
                                 development
                                opportunities?



    Consulting Made Easy              © 2009 All Rights Reserved for Cooper Research Associates   15
    www.mbopartners.com
Collateral Material Options

                           White Papers: Establish your
                            Thought Leadership Position


                           Case Studies: Document best
                                    practices


                             Press Releases: Promote
                            your ideas and contributions




    Consulting Made Easy                   © 2009 All Rights Reserved for Cooper Research Associates   16
    www.mbopartners.com
Leveraging Thought Leadership

                             Webcasts/Podcasts:
                           Leverage for Intelligent and
                                 joint Exposure


                              Live Event: Thought
                              Leadership Speaking
                                 Opportunities


                           Transitioning: Converting
                            public outreach to private
                               sales presentations


    Consulting Made Easy                 © 2009 All Rights Reserved for Cooper Research Associates   17
   www.mbopartners.com
Go-to-Market Campaign

                               Topic:

                               Market:

                            Deliverables:

                              Schedule:

                          Desired Outcomes:


   Consulting Made Easy             © 2009 All Rights Reserved for Cooper Research Associates   18
   www.mbopartners.com
Blocking and Tackling

                           Accounting/Book Keeping

                             Tax Preparation/CPA

                             Retirement/SEP IRA

                                  Insurance

                       Contract Development/Legal



    Consulting Made Easy                 © 2009 All Rights Reserved for Cooper Research Associates   19
    www.mbopartners.com
Business Structure
Options Analysis

                           Sole Proprietorship?

                           LLC / Corp / S Corp?

                              Partnership?

                             MBO Partners?


    Consulting Made Easy              © 2009 All Rights Reserved for Cooper Research Associates   20
    www.mbopartners.com
Our Next Webinar

Working in Teams to Amplify Your
 Consulting Business
   June 30th, 12:30-1:30 ET
   Build your multi-person business
   Register via MBO Partners Events page




    Consulting Made Easy   © 2009 All Rights Reserved for Cooper Research Associates
                                                                                       21
    www.mbopartners.com
Thanks for joining us!

We will send you the replay link.
For help with your transition to consulting, contact:




  Gene Zaino                   Lane Cooper
  1-800-220-0469               415-646-6592
  gene@mbopartners.com         lane.cooper@cooperresearchassociates.com
  www.mbopartners.com          www.cooperresearchassociates.com




      Consulting Made Easy            © 2009 All Rights Reserved for Cooper Research Associates   22
      www.mbopartners.com

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How to Leverage Thought Leadership to Build a Consulting Practice

  • 1. How to Leverage Thought Leadership to Build a Consulting Practice Lane Cooper Gene Zaino Founder & Principal Director President & CEO Cooper Research Associates MBO Partners Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 1 www.mbopartners.com
  • 2. The full screen icon maximizes the presentation area. The “raise hand” icon lets us know you have a question. We can unmute your line to discuss the question if you are on a phone line or if you have a microphone plugged into VOIP. The chat box allows you to send a text question. Mac users may be limited to listen only mode. Consulting Made Easy 2 www.mbopartners.com
  • 3. “We make it easy for independent consultants and their clients to work together” “If you’re thinking about going out on your own, the MBO way is the way to go; just let them handle everything and it will make it easier for you and your client.” Dawn Alexander, Communications Attorney Consulting Made Easy www.mbopartners.com
  • 4. The Independent Consultant Option Replace: Find employment that is commensurate with talent and experience Reduce: Lower sights, take positions for which you are overqualified Revamp: Launch consulting practice as interim or permanent career strategy Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 4 www.mbopartners.com
  • 5. Common Fears and Barriers Fear 1: Uncertainty of ability to earn Fear 2: Loneliness…Can I go it alone? Fear 3: Lack of infrastructure and institutional support Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 5 www.mbopartners.com
  • 6. Getting Started with Business Focus Assessment Your mission? Why? What issues are you interested in solving? Why do these issues make you passionate? Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 6 www.mbopartners.com
  • 7. Market Challenge Statement Development Issues: What is the problem you seek to address? Consequences: What is the problem costing your potential clients in terms of time, money and human resources ? Validation: Are there proof points/stats that document these problems? Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 7 www.mbopartners.com
  • 8. General Solution Statement Development Your Consultative Approach: How do you propose to help your clients address this challenge? Anticipated Outcomes: What is the specific list of benefits clients get from working with you? Track Record: How have you secured these benefits in the past? Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 8 www.mbopartners.com
  • 9. Target Market Analysis Horizontal – Corporate discipline (Marketing, Operations, Finance, etc.) Level – What is is your entry point? (C- level, VP, Director, Management) Vertical – What industries do you serve? (Gov., Financial Services, Manufacturing, Retail, Energy, etc.) Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 9 www.mbopartners.com
  • 10. Prospect Profile Analysis WHAT DOES YOUR IDEAL PROSPECT LOOK LIKE? Strategic Assessment: What are prospects’ long-term objectives Operational Analysis: Critique of current practices, and alternative options Financial Situation: How does cash position or disposition affect engagement Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 10 www.mbopartners.com
  • 11. Lead Source Assessment WHERE ARE ORGANIZATIONS AND EXECUTIVES THAT MEET YOUR IDEAL PROSPECT PROFILE? Current Rolodex Key groups and associations Social Networks (Linkedin, etc.) Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 11 www.mbopartners.com
  • 12. Business Model Options Analysis HOW CAN CLIENTS ENGAGE WITH YOU TO TACKLE THESE CHALLENGES? Project-based (Value-pricing) Hourly-based (Time and materials) Retainer-based (Use it or lose it) Other/Combo? Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 12 www.mbopartners.com
  • 13. Service Catalog based on Engagement Lifecycle Assessment/Diagnosis General Prescription and Options Roadmap Development Implementation Services and Support Progress and Project Impact Assessment Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 13 www.mbopartners.com
  • 14. Sales & Marketing Strategy Development Tools Web Site Design and Set Up Collegial Calls --Who are people you know and can bounce potential proposals off of? Cold Calls -- Who are people you do not currently know but would like to bounce potential proposals off of? Lead Generation & Follow-up -- How can we generate leads…and what is our follow-up strategy? Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 14 www.mbopartners.com
  • 15. Sales & Marketing Strategy Development Tools Media Marketing: What trade press (print and online) does your target market consume? Are there article development opportunities? Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 15 www.mbopartners.com
  • 16. Collateral Material Options White Papers: Establish your Thought Leadership Position Case Studies: Document best practices Press Releases: Promote your ideas and contributions Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 16 www.mbopartners.com
  • 17. Leveraging Thought Leadership Webcasts/Podcasts: Leverage for Intelligent and joint Exposure Live Event: Thought Leadership Speaking Opportunities Transitioning: Converting public outreach to private sales presentations Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 17 www.mbopartners.com
  • 18. Go-to-Market Campaign Topic: Market: Deliverables: Schedule: Desired Outcomes: Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 18 www.mbopartners.com
  • 19. Blocking and Tackling Accounting/Book Keeping Tax Preparation/CPA Retirement/SEP IRA Insurance Contract Development/Legal Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 19 www.mbopartners.com
  • 20. Business Structure Options Analysis Sole Proprietorship? LLC / Corp / S Corp? Partnership? MBO Partners? Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 20 www.mbopartners.com
  • 21. Our Next Webinar Working in Teams to Amplify Your Consulting Business  June 30th, 12:30-1:30 ET  Build your multi-person business  Register via MBO Partners Events page Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 21 www.mbopartners.com
  • 22. Thanks for joining us! We will send you the replay link. For help with your transition to consulting, contact: Gene Zaino Lane Cooper 1-800-220-0469 415-646-6592 gene@mbopartners.com lane.cooper@cooperresearchassociates.com www.mbopartners.com www.cooperresearchassociates.com Consulting Made Easy © 2009 All Rights Reserved for Cooper Research Associates 22 www.mbopartners.com