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Odyssey: The Business of Consulting

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Become and Odyssey Certified Consultant. Generate better revenue from better clients

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Odyssey: The Business of Consulting

  1. 1. EXECUTIVE BRIEFINGOdyssey :The Business of Consulting™How to Build, Grow and Transform Your Consulting Businesswww.odysseyconsultinginstitute.com
  2. 2. Your PresentersImelda K ButlerChairpersonOdyssey Transformational StrategiesDr Shayne TracyDirectorOdyssey Transformational Strategies
  3. 3. What We Will Achieve Today1. You will receive “golden nuggets” that will giveyour consulting business a kick-start2. You will change your “paradigm” on how youview your consulting business3. You will see the opportunity to build, grow andtransform your consulting business4. You will have the opportunity to assess thevalue Odyssey: The Business of Consultingwill add to YOU and your consulting business.© 2012 Odyssey Consulting Institute™ 3
  4. 4. The “Business of Consulting”© 2012 Odyssey Consulting Institute™ 4Consulting has grown at 16.1% per annum over the last 10 yearsIt is a $120 billion industry and more than 1,000,000 consultantsThe big players take $60 billion almost automatically and $60 billionis divided up between small firms and independent consultantsThat averages out at $120,000 charge out fees per consultantbut, the 80-20 rule rules!
  5. 5. Odyssey: The MetaphorGreek term: a long and adventurous journeythe journey to join the top 10% of Consultantsworldwide in terms of : best practices clientquality, income, professionalism, personal fulfilment.© 2012 Odyssey Consulting Institute™ 5
  6. 6. Our HistoryFounded in 2005 by John and Imelda Butler in Dublin, Ireland witha vision to transform and inform “The Business of Consulting”Over 100 graduates from US, Europe and CanadaSurveys demonstrate significant results for graduates‟ personallives and consulting businesses© 2012 Odyssey Consulting Institute™ 6
  7. 7. Mission StatementWe partner with our consultants to create corporate strategicadvantage by embedding innovative thoughtwork, strategies and systems to help transform cultural,strategic and human capital.© 2012 Odyssey Consulting Institute™ 7
  8. 8. Movement Leadership TeamOdyssey: The Business of Consulting2 Phase Business Process
  9. 9. Three Aspects Of Professional Service FirmsApplicable To Consulting© 2012 Odyssey Consulting Institute™ 9ResourceBaseOrganizationFormProfessionalIdentity
  10. 10. Professional Service FirmsResource BaseRelatively limited physical resources and their valuederives primarily from their professionalstaff, specifically the technical knowledge, expertiseand experience which they possessThe management of knowledge and “the knowledgeworker” is, therefore, fundamentally important to them.The asset is knowledge and expertise© 2012 Odyssey Consulting Institute™ 10
  11. 11. Professional Service FirmsThrough the partnership form ofgovernance, professionals in professional servicefirms experience a higher degree of autonomy thanthey would typically enjoy in conventionalbureaucratic structuresThose professional service firms which have adoptedthe corporate structure may still attempt to imitateelements of the partnership form© 2012 Odyssey Consulting Institute™ 11Organization Form
  12. 12. Professional Service FirmsFirm members identify themselves as professionalsand are united by a shared understanding of theconcept of professionalism.This professional identity is often associated withthe rhetoric of independence and exemplary ethicsbut may be redefined within professional servicefirms to focus on exceptional commitment to clientsand quality of service© 2012 Odyssey Consulting Institute™ 12Professional Identity
  13. 13. $$$$ and Cash FlowInvestorBusiness OwnerSelf-EmployedEmployeeBusiness PerspectiveFixed $Limited Cash FlowFlexibilityTimePurpose
  14. 14. Vs.The Professional Consulting FirmSell StandardProducts(with services)TransactionalVolumeApproach(via retail orsales staff)HighlyCustomisedService Delivery(portfolio ofsolutions)PersonalizedDelivery throughTalentedProfessionals(via professionalconsultations)The Normal Business EnterpriseDistinctiveness of Professional Service FirmsRevenue? Profit?© 2012 Odyssey Consulting Institute™ 14
  15. 15. PhysicalHandDoingUnconsciousIncompetenceGood SoldierLEARNINGRESPONSECONSULTANTAPPROACHHUMANIntellectualThinkingConsciousIncompetenceCompetent WarriorEmotionalFeelingConsciousCompetenceTrusted AdvisorSpiritualBeingUnconsciousCompetenceMaster PractitionerHeadSoulHeartParallel Process Levels in the Odyssey Journey
  16. 16. Consulting Strategies2 Strategies to:Increase feesAttract better clientsHave more free time, quality of lifeS1 Business focusS2 System‟s View© 2012 Odyssey Consulting Institute™ 16
  17. 17. “You are only as strong as your weakest link”John ButlerThe “Business Chain of Consulting”© 2012 Odyssey Consulting Institute™ 17YOUWisdom, Skill, Talent, Competencies, Expertise, IC, SC, ThoughtwareFinanceProductandServicesPhysicalResourcesPeopleTimeHumanCapital
  18. 18. What do you need to learn/change to putmore money in your pocket this year?1. Value Appreciation2. Monetizing Metrics3. Positioning Yourself4. Value-Fees Strategy5. Commitment to Change© 2012 Odyssey Consulting Institute™ 18
  19. 19. Value Appreciation vs. Commodities ThinkingCould you have bought it cheaper………..?© 2012 Odyssey Consulting Institute™ 19
  20. 20. Lessons from Classic Mistakes© 2012 Odyssey Consulting Institute™
  21. 21. Mistakes and Lessons1. Mistake: Working with the “wrong client”Lesson: Identify the “ideal” client-fire the wrong ones!2. Mistake: Selling products/services and underchargingLesson: Learn “value appreciation” for self and client3. Mistake: Poor attraction mechanismsLesson: Learn methods and processes and make time4. Mistake: Underselling yourself-The “Imposter Syndrome”Lesson: Learn to develop, appreciate and promote yourtalent 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 canTransform your Consulting Practice?1.What is your point of preeminence?2. What is your unique factor?CONFIDENCECOMPETENCE© 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 timeIt‟s your time to learn a system and to change your consultingparadigm and your life……..andTo achieve your Purpose!*Brian Tracy© 2012 Odyssey Consulting Institute™ 24
  25. 25. Case Studies1. 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 takingOdyssey we could be characterized as an “everything to everyone” type business.In fact, Odyssey has fundamentally changed the way we do business2. The relentless application of the Odyssey methodologies has resulted in mequadrupling my consulting revenue in two years, from about $250K to over $1Million 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 $100-150Kper year. Before I was a third of the way through Module 3, I had recouped myinvestment and doubled the contract revenue for the same client using what Ilearned. 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 SuccessLeadership not competitorship!Learn the model and methods forattaining 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 StrategiesTurboStrategy 1 TurboStrategy 2TurboStrategy 3TurboStrategy 4 TurboStrategy 5Leverage Your Expertiseand ExperienceDo Executive BriefingsValue AppreciationValue DeliveredThen FeesWhat is the Picture InYour Head?Your Client‟s Head?© 2012 Odyssey Consulting Institute™ 28What BusinessAre You In?
  29. 29. Reflection and Action Steps1. 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. Movement Leadership TeamOdyssey: The Business of Consulting2 Phase Business Process
  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 SpeakI want you to know that even though my billings do not reflect $1M, I am grateful every day that I nowhave 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 tosharpen my saw. I am moving forward because of YOU and this program. Thank youOdyssey 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 dividendsand I believe I will really see results in 2013Odyssey showed me how to monetize my solutions w/a client/potential client, how to think BIGGERabout fees and solutions offering, how to pen sell, the difference between level 1 and level 4 consultingand where I was operating…. and where I wanted to operate…..and how to be better at the "business ofconsulting" BMR process and getting out of my own way!© 2012 Odyssey Consulting Institute™ 34“““”””
  35. 35. Odyssey Alumni Benefits© 2012 Odyssey Consulting Institute™ 35Odyssey Follow-upCertification (OCC)Membership in the Odyssey Movement™ AlumniPart of the Odyssey Consulting Network
  36. 36. Odyssey: The Business of Consulting™Teaches You ...© 2012 Odyssey Consulting Institute™ 36How to advance from a Competent Consultant to„Respected Level 4 Master Practitioner’ in your chosen professionBusiness, marketing and financial strategies for consulting businessyou can apply immediatelyMaximize your ROI and fulfill your true purpose and potentialwhile serving your clients to achieve strategic resultsHow to develop a consulting business model that works for you and your clientsThe comrade-ship of being part of a non-competitivecommunity of like-minded professionals.
  37. 37. Global Corporate Transformation™
  38. 38. © 2012 Odyssey Consulting Institute™ 38THANK YOU!Odyssey :The Business of Consulting™How to Build, Grow and Transform Your Consulting Business
  39. 39. International:Imelda K ButlerChairpersonPhone: 353 1 4595950email: imeldabutler@OdysseyTransform.comimeldabutler@OdysseyConsultingInstitute.comLinkedIn: www.linkedin.com/in/imeldabutlerSkype: imeldabutlerCONTACT DETAILSNorth America:Dr Shayne TracyDirectorPhone: 001 416 7370407email: Drtracy@rogers.comDrtracy@OdysseyTransform.comdrtracy@OdysseyConsultingInstitute.comLinkedIn:www.linkedin.com/in/drshaynetracySkype: Shayne.Tracywww.OdysseyTransform.com

Become and Odyssey Certified Consultant. Generate better revenue from better clients

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