How to Succeed as an Independent Consultant

Preface. Why a new edition is needed now. The general economic atmosphere and its influence. New areas to be considered. The IRS versus the onsite contractor. The plight of today's retirees. The explosion of pertinent technology. The need for enhanced marketing. New information in this edition. Author note. Introduction. Increasing need for consultants. Do consultants have an identity crisis? How consultants specialize. How definition relates to consulting (marketing) success. The more important view: That of the client. Chapter 1: What Does (Should) a Consultant Do? Computers and data processing. The aerospace industries. The consultant organization. The consultant company. Hybrids. The consultant as a self-employed independent. Suitable fields and services. Chapter 2: Seizing Opportunity. Your consulting specialty versus your marketing needs. What does it take to be a consultant? The skill of a consultant. The avenues of specialization. Consulting assignments evolve. Chapter 3: Consulting as a Second Career. What is a "second career"? Almost any skill/knowledge/experience can be the basis. Marketing-getting clients. What kinds of clients to pursue. Marketing your services. Plowing new fields. Consultants as temporaries. Finding assignments. Companies for seniors. Chapter 4: Why Do So Many Consultants Fail? How to Succeed. The roots of failure. The common mistakes of neophyte consultants. The basic tradeoffs. How specialized should you be? Specialize and diversify. Marketing. The ten laws of survival. The consultant's image. Chapter 5: A Few Keys to Success. The art of listening. Deciding what business you are in. The key to the definition. The two basic sales situations. The independent consultant: Specialist or generalist? Do's and don'ts, especially for the first year. Chapter 6: Founding the Consulting Practice. If you had it to do over. General considerations such as licensing. The matter of a business name. What type of business organization should you use? Do you need a lawyer? Do you need an accountant? Do you need a business plan? Some general observations about business plans. Generalized outline. Chapter 7: Finances, Taxes, and Related Problems. Using what your accountant tells you. The information you need. Some common mistakes. Some basic rules. Basic cost centers and cost definitions. Insurance. Taxes: Avoidance is legal. Chapter 8: Marketing and Sales: Finding Leads and Closing Them. Success in marketing is always a tonic. What is marketing? Discovering what clients wish to buy. "I know it when I see it." Creating needs-FUDs. Face-to-face closing. Qualifying prospects. Chapter 9: Releases, Brochures, and Other Materials. Marketing and messages. Releases and newsworthiness. Brochures as marketing tools. Other sales materials. A word on e-mails. Chapter 10: The New Marketing. Recession or "adjustment." The good news. What's wrong with the "old" marketing? Is mass marketing dead? Why consulting is not sold via mass marketing. The marketing database. Networking for clients. Miscellaneous marketing considerations. Brokers, job shops, subcontracts, and the IRS. Technical services firms. Chapter 11: Marketing to the Public Sector: Federal, State, and Local Government. A brief glimpse of government markets. What governments buy. How governments buy. The procurement system. Market research. Subcontracting and other special marketing approaches. Forms. Chapter 12: Proposal Writing: A Vital Art. The evolution of modern proposal practice. What proposals call for. Why proposals are requested. The elements of the RFP. The response. Kinds of information an RFP asks for. What is a proposal? Proposal scenarios. Who must you sell? Public- versus private-sector proposals. The evaluation system. The protest process. Sole-source procurement. Proposal formats and rationales. Format and general rationale. The necessary impact. Strategy and its evolution. Functional flowcharts. A few odds and ends. Chapter 13: The Initial Meeting with the New Client or Prospect. Rule number 1: Have a clear understanding from the beginning. Rule number 2: Be a dignified professional-always. Rule number 3: Sell without the hype. Selling is consulting. Pricing problems. Where to conduct initial meetings. Things to settle at the first meeting. Follow up. Chapter 14: Negotiations, Fees, and Contracts. Fees, costs, and profits. Standard rates. Calculating overhead. What should your overhead rate be? Private-sector parallels. Government contract negotiation. Private-sector contract forms. What is a contract? Potential hazards. Alternatives to formal documents. The informal contract or letter of agreement. Annual retainers. Negotiating tips, tactics, and gambits. Chapter 15: Consulting Processes and Procedures. The art of listening. The art of listening part 2. Value of solution. Listening as a hired consultant. A basic approach to all analysis: Function. Chapter 16: Final Reports, Presentations, and Other Products. Written reports: Products of the consulting project. Verbal reports and presentations. Other products. Finding a measuring stick. Chapter 17: Fees and Collections. Cash flow is a problem for everyone. Warning flags. Credit card convenience-and inconvenience. Collections. Collecting from government clients. Chapter 18: Skills You Need: Making Presentations. Consulting: Business or profession? Public speaking. The notion of born speakers. Planning the presentation. A few presentation principles. Chapter 19: Skills You Need: Writing. Writing skills for the consultant. Research and data gathering. The draft. Chapter 20: Additional Profit Centers: Writing for Publication and Self-Publishing. Consulting means different things to different consultants. What are profit centers? Why other profit centers? The common denominator. Writing for profit. Publishing your own book. Marketing books. Other marketing means. Other publishing ventures. Chapter 21: Additional Profit Centers: Seminars and Public Speaking. Speaking for profit. The public speaking industry. The seminar business. Marketing the seminar. Chapter 22: Consulting and New Technologies. The new meaning of independent. Desktop computers. The most popular functions. Desktop publishing. Database and spreadsheet functions. Communications software. Graphics developments. Printers. Modems. Facsimile machines. Tape drives, copying to CDs, and backing up. The computer as a general aide. Chapter 23: Business Ethics in Consulting. A standard of conduct. Conflicts of interest. Fees and related ethical considerations. Ethics and fees. A recommended code. Chapter 24: The Reference File. Books on retirement and second careers. Books on writing and publishing. Books on public speaking. Other books of interest. Periodicals of direct interest. Wholesalers and distributors. People and organizations in public speaking. Convention managers and planners. Speakers associations. Mailing list brokers. A few tips on writing direct mail copy. Associations of consultants. Miscellaneous resources. Internet resources. A few seminar tips. Proposal do's and don'ts. Outline for the preparation of a business plan. Index.