Consultants Saying Things

By: Chris Lockhart
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  • Summary

  • We saw the need for some direct talk about some of the topics we’re encountering in daily work as business and technology practitioners. This is everything you wanted to know... the REAL deal... about consulting. We talk about the stuff that our clients care about and that consultants everywhere deal with every day. This podcast is about business, people, technology and the intersection of the three. Check out the website or Youtube channel for more stuff.
    Chris Lockhart
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Economics
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Episodes
  • The One About Winning New Business

    The One About Winning New Business
    Nov 27 2024
    There's a train of thought that says all consultants are in sales. Maybe. But there is definitely a change in bizdev as you progress from Analyst to Partner. Making the transition from a delivery-focused consulting role to one that requires business development can feel like stepping into an entirely new career, especially when you haven't spent years cultivating relationships with potential buyers. Developing the skills to identify opportunities, build meaningful client relationships, and contribute to sales requires a different mindset and approach that many consultants find challenging to navigate. Oh and your performance appraisal increasingly depends on what work you can bring in. Deep in the ol' Reddit r/Consulting forum, I found a post by a newly promoted consultant who now faced the prospect of needing to sell. So of course we talked about it on the show... We Discuss: How do you begin to build relationships with potential buyers when you haven't had much opportunity to create those connections until now?Is business development and relationship building a learned skill, or do you need natural EQ/people skills to succeed?When using social media (particularly LinkedIn) for business development, is it enough to simply engage and comment, or do you need to develop unique perspectives and content?How do you navigate the transition from being a technical/delivery expert to becoming more of a trusted advisor who can identify and sell solutions? Key Highlights: When transitioning from a delivery role to sales in consulting, having internal networks and relationships is crucial, but often these connections aren't with buyers who have purchasing authority (00:02:13) Consultants don't need to execute the entire sales cycle themselves - it's acceptable and often beneficial to identify opportunities and have more senior people close deals while getting sales attribution (00:15:33) Account planning is critical - consultants should build relationships at their current level and gradually work their way up to senior buyers, rather than trying to immediately reach C-level executives (00:16:46) For long-term success in consulting, consistency and focus in a specific domain or industry are more valuable than being scattered across many areas (00:29:40) Technical consultants are often well-positioned to identify new opportunities because they see operational pain points firsthand while working with clients (00:23:34) When building a professional brand, content should be focused and consistent rather than scattered across various topics - this helps potential clients understand your expertise (00:30:00) Having clear career goals and values alignment is essential - consultants should ask themselves if they'll be satisfied doing their current trajectory in 10 years (00:37:21) For LinkedIn engagement, experts recommend making three thoughtful comments per day on potential buyers' content and posting original content once or twice weekly maximum (00:49:25) When building relationships on LinkedIn, it's important to "give before asking" - contribute value to conversations before requesting meetings or connections (00:46:40) Building visibility with potential buyers can be done indirectly by engaging with their network and participating in relevant conversations, rather than approaching them directly (00:48:27) 5 Takeaways: The most effective path for consultants transitioning to sales roles is to leverage existing client relationships where trust has already been established, rather than trying to build entirely new connections under pressure of sales targets. Successful business development in consulting requires a strategic approach to relationship elevation, where consultants work collaboratively with junior client contacts to earn trust before attempting to reach C-level decision makers. Technical consultants can contribute meaningfully to sales by identifying opportunities during project work and channeling them through senior partners, earning sales attribution credit without having to personally close deals. On LinkedIn, the optimal engagement strategy for consultants is to make three thoughtful comments daily on potential buyers' content while limiting original posts to once or twice per week, focusing on providing value before making any asks. Long-term success in consulting sales requires maintaining a consistent professional focus and expertise in specific areas, rather than taking a scattered approach across multiple topics or industries. For reference, here's the Reddit post: https://lnkd.in/ePhFepwu AND if you stick around till the end... there's a brilliant bit of advice from one of the top voices on LinkedIn, Richard Bliss ( therichardbliss.com ) who gave us HIS expert perspective on this topic. You cannot miss that bit. And speaking of sales, he usually charges for that advice...
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    51 mins
  • The One About Existential Angst

    The One About Existential Angst
    Nov 13 2024

    Management consultants often grapple with the challenge of articulating what they do while simultaneously questioning if what they do truly matters. Watch this episode for 6 takeaways you need to know about meaning and purpose in consulting.

    We Discuss:

    • What do consultants even do?
    • Why do people struggle to explain what consultants do?
    • Is it enough to just be doing it for the money?
    • Are consultants who claim to be purely focused on delivering value being genuine?
    • Why do some consultants get stuck in unfulfilling roles?
    • How can consultants maintain perspective and avoid getting lost in the 'consulting vortex'?
    • Why do those who leave consulting ('out' in 'up or out') often end up happier?


    Key Highlights:

    • Consultants often struggle to explain what they do, as evidenced by a particular Reddit post. This leads to deeper questions about professional identity and purpose. (00:02:45)
    • Initial responses to "what do consultants do?" tend to be either overly generic or unnecessarily complex, highlighting a broader communication challenge in the industry. (00:02:59)
    • Consulting roles span a wide spectrum - from hiring smart individuals as "warm bodies" to bringing in entire teams for specific strategic outcomes, making it difficult to provide a simple definition. (00:07:24)
    • Many consultants start their careers focused on monetary gains, but later struggle with questions of purpose and value, leading to existential crises. (00:13:50)
    • Early-career consultants often chase financial rewards, but this motivation evolves as they advance, forcing them to choose between constant progression and work-life balance. (00:18:44)
    • Consulting work can be highly abstract compared to tangible professions (like construction), making it harder to see concrete results and feel fulfilled. (00:33:26)
    • The conversation addresses the "up or out" culture in consulting and how some people who leave ("out") often end up happier than those who keep pursuing advancement ("up"). (00:44:36)
    • Emphasis on the importance of daily reflection and journaling to maintain perspective and avoid getting lost in the consulting "vortex." (00:37:28)
    • Modern work culture has internalized destructive motivations, making people push themselves beyond healthy limits ("hustle culture"). (00:41:06)
    • The conversation touches on "hedonic adaptation" - the constant moving of goalposts for success and happiness in consulting careers. (00:43:07)
    • Many who exit the traditional consulting career path often find more happiness, though they couldn't see this while still "on the ride." (00:45:18)


    6 Takeaways:

    • Difficulty explaining consulting roles often reveals deeper career doubts and questions of purpose.
    • The broad range of consulting work makes it hard to define succinctly, leading to oversimplified or overcomplicated descriptions.
    • Unlike tangible professions, consulting's abstract nature can leave practitioners feeling disconnected and unfulfilled.
    • Starting careers for money without reflection leads to endless goal-shifting and diminishing satisfaction.
    • The "up or out" culture traps many in unfulfilling paths, while those who leave often find unexpected happiness.
    • Modern consulting culture has internalized self-destructive behaviors as necessary for success.

    To read the Reddit threads that we are reacting to in this episode, check out these two posts:

    • https://www.reddit.com/r/consulting/comments/1cwp50u/serious_question/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button
    • https://www.reddit.com/r/consulting/comments/1cwsq6i/i_dont_give_a_fuck_about_business_of_any_kind_but/?utm_source=share&utm_medium=web3x&utm_name=web3xcss&utm_term=1&utm_content=share_button
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    47 mins
  • The One About Finding and Landing Clients

    The One About Finding and Landing Clients
    Sep 18 2024

    Finding and landing clients can be a daunting challenge for even the most seasoned professionals. Consultants want genuine opportunities to help solve problems and make a meaningful impact. There are 6 takeaways you need to know for transforming the sales process. We Discuss:

    • How do you ask for business without using standard sales approaches that feel phony?
    • How do you find people to have initial conversations with about potential business?
    • How important is emotional intelligence (EQ) in consulting sales?
    • How do you leverage your network to find business?
    • When is the right time to transition from relationship-building to making a sales pitch?
    • How can consultants overcome their discomfort with selling?

    Key Highlights:

    • Strategies for finding and selling to clients in consulting, emphasizing authentic relationships over aggressive sales tactics. (00:02:37)
    • The importance of emotional intelligence (EQ) in understanding client needs and building rapport. (25:23)
    • Offering value first, such as through thought leadership or free workshops, before trying to sell services. (21:36)
    • Networking and leveraging existing relationships are presented as crucial for finding new business opportunities. (05:37)
    • Partnering with others who have complementary skills, especially for consultants who may lack sales experience. (29:43)
    • The challenge of knowing when to transition from relationship-building to making a sales pitch. (39:25)
    • The importance of making it easy for potential clients to take the next step in engaging services is emphasized. (40:26)
    • Consulting sales as an ethical pursuit of helping people solve problems. (41:13)

    6 Takeaways:

    1. Successful consultants focus on building authentic relationships and understanding client needs rather than using aggressive sales tactics.
    2. Emotional intelligence (EQ) is crucial for consultants to effectively read situations, connect with clients, and identify potential opportunities.
    3. Offering value upfront through thought leadership, free workshops, or problem-solving sessions can help establish credibility and open doors to future business.
    4. Leveraging existing networks and partnerships, both internal and external, is essential for finding new business opportunities and complementing one's own skills.
    5. Consultants often struggle with transitioning from relationship-building to making a sales pitch, highlighting the importance of recognizing buying signals.
    6. Framing consulting sales as an ethical pursuit of helping people solve problems can help overcome discomfort with traditional selling approaches.
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    45 mins

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