Consulting in the Digital Age
INTRODUCTION
2020 brought many changes in the way people work and one of the major changes is people looking for ways to work remotely and for themselves. Consulting used to be a term reserved for large firms with offices full of MBA degree holders. Now anyone can use the digital landscape to offer consulting on a contract basis and become their own boss.
Building Blocks of Consulting
Building a consulting business is like building any business-you first must decide what it is that you “sell” and then market that skill to potential clients. The key to this is carving out what niche.
Consulting in the digital age means being up to date on the latest trends such as blockchain consulting.
A blockchain consultant is someone who is researching and implementing blockchain technology for the client. A blockchain consultant acts as a project manager and is integral in the success of the implementation.
This type of consultant will also be working with any marketing and PR staff, or for smaller clients might handle all of that as the consultant.
Consulting Concepts
A key component to benign a successful consultant is knowing where your skills can shine. If you know nothing about cryptocurrency and emerging technologies then blockchain consulting may not be the best route.
Consultants are needed for everything from recruiting and HR, to team-building, strategic planning and project management. In the nonprofit sector some of the most frequently contracted consultants are for fundraising and development.
Many nonprofits may only budget to have one or two staff people full time in that department and bring on consultants for special projects, capital campaigns and annual fund appeals.
Creating a Strategy
Creating a clear strategy for the work you will do for each client, and especially a timeline and budget is of the utmost importance in having a successful business relationship.
Many consultants offer to meet with clients free of charge initially and then will draft a proposal of the work and negotiate the contract timeline, fees and responsibilities.
Taking the idea and needs of the client and then working to carve out a plan of implementation, then executing the project requires thinking a few steps ahead at all times.
Being able to anticipate hurdles before they happen and having contingency plans in place are ingredients for any successful consultant.
Contract Negotiation
Contract negotiation can be as difficult as project implementation and is equally important. Clearly outline the terms of your work with any client is a skill that must be honed.
Are you billing them a flat free for deliverables or are you charging by the hour? Are you working alone or will you be bringing subcontractors on, and if so what is their hourly rate? Are you charging the client back for travel time and expenses?
If you are based in Chicago and drive to Detroit for a meeting are you charging per hour for travel or mileage or both? All of the details need to be worked out prior to bringing a proposal to a potential client because they will ask questions and you, as the consultant should already have the answers.
Oftentimes clients are working on new business ideas, logos and product development so Do Not Disclose (DND) agreements are commonplace. Understanding the terms of your DND as well as the client understanding the full scope of your work can make or break the relationship. Fear not! There are many free online sources with examples of contracts that you can plug your information into so you are not reinventing the wheel. There are also free and low cost legal services to review contracts.
Conclusion
Whether you want to get a certificate in a new skill and break into blockchain consulting, or take the years of skills you have already acquired in a specific area such as recruiting, consulting can be a way to work on your own terms.
Consulting in the digital age doesn’t require having IT and coding skills yourself, but you should know where you can outsource or who you can partner with should your client need wrap around services.
Consultants are often the best networkers. They are essentially project web weaver than can bring people in where their skills fall short and in the best of cases all of this is seamless and behind the scenes from the client.
Advantageous consultants can address all of the clients needs with their network of other consultants and professionals. Having a digital rolodex with everyone from IT managers to florists for opening day will make your consulting business thrive in any market.