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Odyssey-The Business of Consulting Executive Briefing

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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 Class

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 Class

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Odyssey-The Business of Consulting Executive Briefing

  1. 1. EXECUTIVE BRIEFING Odyssey :The Business of Consulting™ How to Build, Grow and Transform Your Consulting Business
  2. 2. Your Presenters Imelda K Butler Dr Shayne Tracy Chairperson Director Odyssey Transformational Strategies Odyssey Transformational Strategies
  3. 3. 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
  4. 4. The “Business of Consulting” 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! © 2012 Odyssey Consulting Institute™ 4
  5. 5. 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
  6. 6. 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
  7. 7. 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
  8. 8. 2 Phase Business Process Movement Leadership Team Odyssey: The Business of Consulting
  9. 9. Three Aspects Of Professional Service Firms Applicable To Consulting Resource Base Organization Professional Form Identity © 2012 Odyssey Consulting Institute™ 9
  10. 10. Professional Service Firms Relatively limited physical resources and their value derives primarily from their professional staff, specifically the technical knowledge, expertise and experience which they possess Resource Base 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
  11. 11. 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 Organization Form 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
  12. 12. Professional Service Firms Firm members identify themselves as professionals and are united by a shared understanding of the concept of professionalism. Professional Identity 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
  13. 13. $$$$ and Cash Flow Flexibility Business Perspective Time Purpose Investor Business Owner Self-Employed Employee Fixed $ Limited Cash Flow
  14. 14. Distinctiveness of Professional Service Firms Transactional Sell Standard Volume Products Approach (with services) (via retail or sales staff) The Normal Business Enterprise Vs. Revenue? The Professional Consulting Firm Profit? Personalized Highly Delivery through Customised Talented Service Delivery Professionals (portfolio of solutions) (via professional consultations) © 2012 Odyssey Consulting Institute™ 14
  15. 15. Master Practitioner Trusted Advisor Unconscious Competent Warrior Competence Conscious CONSULTANT Good Soldier Competence Conscious Being Incompetence LEARNING Unconscious Feeling Incompetence Thinking Spiritual RESPONSE Parallel Doing Process Levels in the Odyssey Journey Emotional Intellectual APPROACH Physical Soul Heart HUMAN Head Hand
  16. 16. 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
  17. 17. The “Business Chain of Consulting” “You are only as strong as your weakest link” John Butler Finance Product People and Services Physical Time Resources Human Capital YOU Wisdom, Skill, Talent, Competencies, Expertise, IC, SC, Thoughtware © 2012 Odyssey Consulting Institute™ 17
  18. 18. 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
  19. 19. Value Appreciation vs. Commodities Thinking Could you have bought it cheaper………..? © 2012 Odyssey Consulting Institute™ 19
  20. 20. Lessons from Classic Mistakes © 2012 Odyssey Consulting Institute™
  21. 21. 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
  22. 22. Critical Factors of Transformation © 2012 Odyssey Consulting Institute™ 22
  23. 23. The Two Critical Factors than can Transform your Consulting Practice? 1.What is your point of preeminence? 2. What is your unique factor? C O N F I D E N C E COMPETENCE © 2012 Odyssey Consulting Institute™ 23
  24. 24. 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
  25. 25. 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
  26. 26. 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
  27. 27. 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
  28. 28. Odyssey Turbo Strategies TurboStrategy 1 TurboStrategy 2 What Business Leverage Your Expertise Are You In? and Experience TurboStrategy 3 Do Executive Briefings TurboStrategy 4 TurboStrategy 5 Value Appreciation What is the Picture In Value Delivered Your Head? Then Fees Your Client‟s Head? © 2012 Odyssey Consulting Institute™ 28
  29. 29. 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
  30. 30. 2 Phase Business Process Movement Leadership Team Odyssey: The Business of Consulting
  31. 31. Odyssey Competent Consultant™ Outline © 2012 Odyssey Consulting Institute™ 31
  32. 32. Odyssey Trusted Advisor™ Outline © 2012 Odyssey Consulting Institute™ 32
  33. 33. Odyssey Transformational MasterClass™ (OTM) © 2012 Odyssey Consulting Institute™ 33
  34. 34. 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
  35. 35. Odyssey Alumni Benefits Odyssey Follow-up Certification (OCC) Membership in the Odyssey Movement™ Alumni Part of the Odyssey Consulting Network © 2012 Odyssey Consulting Institute™ 35
  36. 36. Odyssey: The Business of Consulting™ Teaches You ... 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. © 2012 Odyssey Consulting Institute™ 36
  37. 37. Global Corporate Transformation™
  38. 38. THANK YOU! Odyssey :The Business of Consulting™ How to Build, Grow and Transform Your Consulting Business © 2012 Odyssey Consulting Institute™ 38
  39. 39. www.OdysseyTransform.com CONTACT DETAILS International: North America: Imelda K Butler Dr Shayne Tracy Chairperson Director Phone: 353 1 4595950 Phone: 001 416 7370407 email: imeldabutler@OdysseyTransform.com email: Drtracy@rogers.com imeldabutler@OdysseyConsultingInstitute.com Drtracy@OdysseyTransform.com drtracy@OdysseyConsultingInstitute.c LinkedIn: www.linkedin.com/in/imeldabutler om Skype: imeldabutler LinkedIn: www.linkedin.com/in/drshaynetracy Skype: Shayne.Tracy

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