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Drucker
The changes in the dynamics of business and the challenges that have emerged are not always manageable by all business organizations internally
According to Dictionary.com.
Counsel
Advice, opinion or
instruction given in directing the judgment or conduct of another
A meeting for deliberation, discussion or a decision
Consultation
The act of consulting or conference
Does it (it should) tell you that counseling is done to improve the productivity or morale of the human resources
Performance Counseling
The process of improving employee performance and productivity by providing the employee with feedback regarding areas where he or she is doing well and areas that may require improvement
Performance counseling is based on systematic performance evaluation and not on subjective assessments
It is then obvious that to be able to use performance counseling, companies need to have systematic HR policies & practices
Accountability in Consulting
ActivityBased Consulting
No business need for the consulting intervention No assessment of performance issues No specific, measurable objectives for implementation and business impact No effort to prepare stakeholders/participants to achieve results No effort to prepare the work environment to support implementation
Result-Based Consulting Intervention linked to specific business needs Assessment of performance effectiveness Specific objectives for implementation and business impact Results/expectations communicated to stakeholders/participants Environment prepared to support implementation
Accountability in Consulting
ActivityBased Consulting
Result-Based Consulting
Consulting Proposals
How do I as a consultant identify, suspects, qualify the prospects, how do I approach them, do you negotiate, how are consulting deals closed, how do you maintain an ongoing relationship?
For SMEs/Individuals
Every proposal will be tailor made, so no pre determined formats Explain and clarify Dont sound patronising! Deliverables & costing are obviously imp. but Stress ROI! Most dont, but make effort to show ROI or how you can provide value
7.
Hard Data.. Sales data, financial statements, profitability data etc. Hard facts
Soft Data Feelings, hearsay, grapevine, opinions, conflicts, behaviour etc. Research Methods, Market Research etc.
Analytical Thinking
in Addition to
Domain Knowledge
Will be Needed!
Problem
Solution
Hypothesis
Analysis
Facts
Step 1 Caution!
Listen to the client! You may be right, but the customer is never wrong! His business philosophy may not match yours but please remember.. It is not your business! In meetings, be very careful how you
Shortlist solutions and arrive at a list of two or three most optimum solutions or the one that seems best.
Shortlist or finalize in close consultations with the client
Control is the key. Develop monitoring systems and keep an eye on deviations. Be flexible and keep strategy responsive
Three Methods
Demand Based
Competition Based
Cost Based
Issues in Pricing
PROBLEMS:
1. Small firms may charge too little to be viable 2. Heterogeneity of services limits comparability 3. Prices may not reflect customer value
PROBLEMS:
1. Costs difficult to trace 2. Labor more difficult to price than materials 3. Costs may not equal value
PROBLEMS:
1. Monetary price must be adjusted to reflect the value of non-monetary costs 2. Information on service costs less available to customers, hence price may not be a central factor
What is Value for Your Value is Everything Value is Low Price Client? I Want in a Service
Discounting Odd Pricing Penetration Pricing
Prestige Pricing Skimming Pricing
Pricing
Pricing
Results-based Pricing
Project Pricing: This method involves quoting a total figure for the whole budget and then arriving at a mutually agreed pattern of payments. Usually research projects, strategy based consultancy involving big clients etc
Calculating Your Hourly Rate Profit + Labour Costs + Overhead = Daily Fee Revenue
A typical consulting year will have around 300 workable days.. Subtract festivals, matches, vacations. 250
So.. You should be earning 1000000/250... Rs. 4000 a
AContingency client complained that he Pricing couldnt afford a consultants hourly fee. Instead of doing the job on a time and material basis, Im willing to do it for a contingency fee, responded the consultant. What is contingency fee? asked the client. Its very simple. If I dont deliver what I promised, Ill be left with no money at all, explained the consultant What if you do deliver what you promised? persisted the client. Then youll be left with no money at all, said the consultant.
Skills
People Skills
Scientific Thinking
Problem Solving Diplomatic Nature