Mihai Ionescu’s Post

Over our private consulting careers we have routinely provided a 3 day free review of the organization prior to any engagement. The customer only paid expenses. The purpose of these were to better understand the customers known issue(s) and to expose others. Our deliver has been a report that presents our findings, recommendations, and if we believe we can add value. In many cases we have discovered, exposed, and provided a path to resolution for major strategic, operations, and/or IT issues that did not require further engagement. In most cases the customer did engage us to review other operations and technical areas in detail or to provide over site to the resolution or to manage the project(s) resolution. As a different approach, we have walked away from many engagements with satisfied customers as we always provide value in our reviews and will not seek business to just enrich ourselves and not provide the reciprocal value. In contrast, we have refused ongoing business from organizations that embrace the issues, accept the resolutions, but continue to languish lacking executional capabilities. It is simple, you do not have to follow our recommendations, but we will not waste our time by regularly being called back in to discuss the exact same things. Over the last several years we have worked with smaller companies or people we already have relationships with (prior employers, employees, and friends) to not just provide the review, but have chosen to provide our services pro bono. We have done this so many times over the years to just help those we care about. To that end, we will be focusing our business on our investment operations and will be limiting our consulting engagements to those shorter term engagements, many or all pro bono. We have been lucky enough to be selective in our projects. Process Engineering, Enterprise Architecture, and Data Security will be our primary focuses. If you need help with the development or evolution of a product, organizational strategies, or have business processes that you need help with, you are more than welcome to call.

Interested in understanding the structure of a consulting signature methodology? Yesterday, I wrote a post explaining why a boutique consultancy needs a signature methodology (SM)—see the hashtag #yoursignaturemethodology. I received a great question from a follower who asked if the SM covers problem resolution, delivery method, or both. Here’s my answer. The SM covers BOTH methodologies to solve specific problems AND the delivery methodology. So BOTH. However, the SM should consist of THREE components, not just two: 1) problem resolution, 2) delivery, and 3) client development. The third component, client development, is crucial for the long-term financial health of the consultancy. As I always advise, 60-70% of a boutique consultancy's revenue should come from developing existing clients. Unfortunately, this vital aspect is often left out of the definition of the SM, if there is one at all. The 3 components of a top-notch SM: 1️⃣ Discovery Service As part of the signature methodology (SM), the discovery service is a standardized initial phase where the consultancy thoroughly assesses the client's current situation. This phase involves in-depth discussions, data collection, and analysis to understand the client's needs comprehensively. The primary purpose of the discovery service is to identify the root causes of the client's problems and to outline a ROADMAP for addressing them. See my article via hashtag #consultingdiscoveryservice. By investing time in this well-designed preliminary step, the consultancy can ensure that subsequent solutions are highly relevant and practical, setting the foundation for a successful engagement. 2️⃣ Problem Resolution & Delivery The second component of the signature methodology (SM) is problem resolution & delivery. This phase involves structurally designed and standardized processes to solve specific problems and achieve desired outcomes. It includes a delivery methodology with clear standard operating procedures (SOPs) to ensure consistency and quality. A key watch-out: Many consultancies try to differentiate the delivery by claiming to always be "on time, on budget, on scope”, which are just table stakes. That’s what clients ALWAYS expect. 3️⃣ Client Development The third component of the signature methodology (SM) is client development. This phase involves ongoing support, follow-up, and adoption programs to ensure clients achieve sustained success. This structurally designed and standardized component should be introduced from the outset during the discovery service presentation, creating trust and illustrating the entire journey or program to the client. 4️⃣ Final advice The true power lies in the repeatability of a well-defined SM, which drives the consultancy's success by delivering exceptional client experiences and predictable results every time. Check out my case study via hashtag #winningagainstbig4. That’s it for today. I hope that helps.

To set a growing consulting company apart from established firms in the industry, several strategies can be implemented: Specialization and Niche Expertise: Focus on a specific industry or type of consulting service where the company can develop deep expertise and become a go-to resource for clients in that niche. Innovative Approaches: Emphasize innovative methodologies and cutting-edge technologies. This can include data analytics, AI-driven insights, or new frameworks for problem-solving. Personalized Client Service: Offer highly personalized and flexible services tailored to the unique needs of each client. Smaller firms often have the agility to provide a level of customization and attention that larger firms can't. Agility and Speed: Highlight the ability to implement solutions quickly and adapt to changes faster than larger, more bureaucratic firms. Cost-Effectiveness: Provide competitive pricing without compromising on quality. Being a growing firm often means lower overheads, which can translate to more cost-effective services for clients. Building Strong Relationships: Focus on building strong, long-term relationships with clients through consistent delivery of value and maintaining open communication channels. Emphasizing Results and ROI: Showcase a track record of delivering tangible results and a high return on investment (ROI) for clients. Use case studies and testimonials to demonstrate success. Cultural Fit and Values: Promote the company culture and values, emphasizing a client-first approach, integrity, and commitment to excellence. This can resonate well with clients looking for a consulting partner aligned with their own values. Thought Leadership: Establish the firm as a thought leader through publishing white papers, conducting webinars, and speaking at industry conferences. This positions the firm as an expert and builds credibility. Leveraging Technology and Digital Tools: Utilize the latest digital tools and platforms to enhance service delivery, client engagement, and operational efficiency. This can include project management software, client portals, and advanced communication tools. By focusing on these differentiators, a growing consulting company can carve out a unique position in the industry and attract clients looking for specialized, innovative, and personalized consulting services.

Business consulting uncovered! Delve into the world of business consultants and the invaluable advantages they offer to companies looking to thrive and grow. Here's a sneak peek at what you'll discover: **Demystifying Business Consulting:** Explore the role of a business consultant and the spectrum of responsibilities they undertake to drive business success. **Benefits for Businesses:** Unveil the advantages of hiring a business consultant and how they can catalyze change and elevate efficiency. **Consulting Specialties:** From strategy to operations, HR, IT, and financial advice, discover the diverse consulting services tailored to enhance businesses. **Consulting Job Trends:** Dive into the future of consulting jobs and the evolving landscape as firms adapt to changing business needs. **Starting Your Consulting Business:** Learn the essential steps to kickstart your consulting venture, from niche identification to crafting a robust marketing strategy. **Essential Tools for Consultants:** Explore the tech arsenal of successful consultants, including CRM, proposal software, project management tools, time tracking, and process automation. Uncover the secrets of the consulting world and learn how to optimize your consulting career for success. #BusinessConsulting #CareerInsights #ConsultingTools https://lnkd.in/egyxJ2Eu

Consulting Workshop Series 101: Tools to Generating Effective and Innovative Ideas - https://lnkd.in/dN6i2qg Whether the focus is a strategy, operations, tax, finance, HR, or IT, management consulting firms have become a staple of corporate life. From defining strategic directions to simply serving as an additional pair of hands for outsourced work, management consultants have become inextricably linked to the success of most large organizations. However, festering underneath the myriad consulting offerings, methodologies, and tools, management consulting firms are exposed to vulnerabilities that are unraveling the consulting business model. It is the same kind of dramatic disruption that is affecting other companies and other industries. An industry becomes susceptible to disruption when it becomes entrenched in its longstanding solutions and financial structures. Management consulting firms are not immune to the dynamics of disruption. In an industry where the basis of competition becomes efficiency versus innovation and new solutions, disruption is just around the horizon. While many consultants and consulting firms have established practices advising clients on strategies to leverage disruptive trends and technologies, only a few apply these to themselves. In today’s business environment, management consulting firms must be ready to address client challenges and needs that will transform their business by 10 or 100 times. Tools and methods must be scaled up to ensure applicability to the widest possible audience globally. The Consulting Workshop Series 101 provides a good understanding of the 10 methods of conducting Workshops that are custom designed to fit specific workshop objectives. Different methods are developed for the purpose of providing organizations the most appropriate tool necessary to support organizations to achieve their strategic goals and targets. The Importance of Mastering Consulting Workshops Consulting Workshops are tools used to maximize performance, align strategies, and actualize potentials of organizations. Management consulting firms leverage workshops as an effective way to rapidly reach decisions within client organizations. Workshops usually last 1 to 5 days. They are typically used to gather stakeholders who normally don’t cross paths–e.g. stakeholders from different departments, different business units, and/or different regions. Within the workshop, the consulting firm plays the role of both facilitator and external subject matter expert. The 10 Primary Workshop Methods The 10 Primary Workshop Methods promote the conduct of a consulting workshop that is strategic and systematic to achieve its purpose and objectives. Charrette . The primary objective of Charrette is to generate consensus among diverse groups of people and form an action plan. This method is highly interact..

𝗬𝗼𝘂𝗿 𝗦𝘂𝗰𝗰𝗲𝘀𝘀 𝗶𝘀 𝗢𝘂𝗿 𝗦𝘂𝗰𝗰𝗲𝘀𝘀 As businesses continue to deal with economic difficulties, many organizations have eliminated consulting dollars from their budgets. Consequently, a fair question to consider is: Should consultants put all or part of their fees at risk dependent upon outcomes or results? I have experience on both sides of this issue. During my operational career, I participated in hiring consultants and evaluating their performance. Following that I worked as a consultant for an advisory services firm for many years and now run my own successful consulting company. Certainly, if a consulting project involves a discrete outcome that relies primarily on the consultants’ expertise (for example: developing a website or brand logo), fees can and should be contingent on meeting established deadlines, content according to specifications, etc. But what if the consultants' deliverables depend on client participation and cooperation? Case-in-point: A consulting company develops a program for an organization with the promise of reducing employee injuries. The client implemented the program half-heartedly – they did not require 100% participation in the training sessions nor complete the follow-ups to embed the learning and did not make the recommended process changes. When injury rates did not decrease, the organization withheld a percentage of the consulting company's fees. High-reliability organizations and professional services firms take steps to ensure success when an engagement requires a close partnership between the two and consider fee contingencies based on that partnership. During the contractual phase, timelines, deliverables, and deadlines for BOTH the client and the consultants are established along with metrics for measuring compliance and outcomes. Routine check-in meetings are held during the engagement to monitor progress. These meetings also provide the opportunity to resolve any issues that may threaten progress such as leadership changes or other major organizational adjustments. Once, when I was halfway through a major consulting initiative, the client hired a new CEO. During our first meeting, he stated: “I hate consultants and I'd like to terminate your contract.” This certainly did not bode well for the engagement's future but, after taking a deep breath, I pulled out our latest progress report and showed him the agreed-upon deliverables for both sides and the progress made to date. While that first meeting didn’t immediately change his mind, he did allow the engagement to continue and later became one of our biggest supporters. Consultants are fond of the phrase “it’s hard to be a prophet in your own land” because it supports the notion that hiring outside experts is often necessary to address tough issues. Cooperative consulting agreements, including at-risk fees, can ensure that bringing in these experts makes economic sense as well. #consulting #highreliability #risk #costbenefit #ROI

10 Things You Should Know Before Hiring a Business Consulting Firm Hiring a business consulting firm can be a game-changer for your company. 1. Define Your Needs Before you start your search, clearly define what you need from a consultant. Are you looking for help with strategic planning, marketing, operational efficiency, or financial management? Knowing your specific needs will help you find a firm with the right expertise. 2. Research the Firm’s Expertise Consulting firms often specialize in certain industries or business functions. Ensure the firm you are considering has experience and a proven track record in your industry or the specific area you need help with. Check their case studies and client testimonials. 3. Check Credentials and Experience Look at the consultants' credentials, education, and experience. Are they seasoned professionals with years of relevant experience? Certifications and advanced degrees can also be indicators of their expertise and dedication to their field. 4. Understand Their Methodology Different consulting firms use different approaches and methodologies. Understand how they plan to tackle your challenges. Do they use data-driven analysis, hands-on implementation, or a combination of both? 5. Evaluate Communication Skills Effective communication is key to a successful consulting engagement. The firm should be able to explain their findings, recommendations, and strategies clearly and concisely. They should also be good listeners, taking the time to understand your business and its unique challenges. 6. Consider Cultural Fit The consulting firm will work closely with your team, so it’s essential they fit well with your company culture. They should respect your values, work style, and organizational structure. A good cultural fit can significantly enhance collaboration and project outcomes. 7. Assess Their Network A reputable consulting firm often has a robust network of industry contacts and resources. This network can provide additional value through partnerships, referrals, and insights that go beyond the consultant’s own knowledge and experience. 8. Look at Past Performance Ask for references and case studies. A firm’s past performance can give you a good idea of what to expect. Look for success stories, long-term client relationships, and repeat engagements, which indicate client satisfaction and trust. 9. Understand the Cost Structure Consulting fees can vary widely. Understand how the firm charges—hourly rates, project-based fees, or retainers. Be clear about what is included in the fees and any additional costs that might arise. Ensure their services provide a good return on investment. 10. Define Clear Goals and Metrics Set clear goals and metrics for the consulting engagement. What do you hope to achieve, and how will success be measured? Having well-defined objectives will help both you and the consulting firm stay focused and aligned throughout the project.

Issue Based consulting offers targeted solutions to complex challenges, fostering innovation and strategic alignment. By prioritizing high-impact issues, organizations can maximize their resources and stay agile in a changing landscape. This approach cultivates a culture of continuous improvement, empowering businesses to thrive amidst uncertainty. Issue-based consulting represents a paradigm shift in problem-solving, guiding organizations towards sustainable growth and success. Issue-based consulting is ideal for businesses and organizations of all sizes facing complex challenges that require tailored solutions. Whether you're a startup looking to optimize your operations, a mid-sized company striving to enhance customer experiences, or a large corporation navigating market disruptions, issue-based consulting can help you unlock solutions and drive sustainable growth. Additionally, individuals or teams within organizations grappling with specific problems can benefit from the targeted interventions provided by issue-based consulting. Ultimately, anyone seeking innovative and strategic approaches to address pressing issues should consider leveraging the expertise of issue-based consultants. Check out our webpage for more information and download the free 7-pager from this page.

Consulting firms often have a reputation for talking a lot but not always delivering results, and there are a few reasons why this might happen: Generalization vs. Specialization: Consultants often provide high-level advice that applies broadly to many situations. They may not always delve deeply into the specifics of a particular organization or industry. As a result, their recommendations might seem theoretical rather than practical or actionable. 1. Overpromising: In an effort to win business, consultants might promise more than they can realistically deliver. The pressure to secure contracts can lead to commitments that are hard to fulfill. 2. Implementation Challenges: Even if consultants provide valuable insights or strategies, the implementation of these recommendations can be complex. Success often depends on how well the client organization can execute and adapt these suggestions. 3. Communication Skills: Many consultants excel in presenting ideas and theories but may not have the hands-on experience required to execute those ideas effectively. Their strengths are often in analysis and strategy, not in execution. 4. Lack of Contextual Knowledge: Consultants might not fully understand the nuances of a client’s specific situation. Without deep contextual knowledge, their advice might not be as effective or relevant as it could be. 5. Dependency on Client Engagement: The effectiveness of consulting work can be heavily dependent on the level of client engagement and cooperation. If a client is not fully invested or lacks the necessary resources, even the best advice might not lead to successful outcomes. 6. Complex Problems: Some problems are so complex that even the best consultants can struggle to find effective solutions. These challenges may require more time, resources, or adjustments than initially anticipated. Despite these challenges, many consultants do provide valuable insights and help organizations improve their performance. The key is often in the collaboration between the consultant and the client and how well the recommendations are tailored to the client’s specific needs and context.

Are You Stuck In A Horrible IT Consulting Relationship?: Are You Stuck In A Horrible IT Consulting Relationship? 5 Ways To Escape A Tech Support Nightmare. Many businesses are trapped in subpar IT consulting relationships, unsure how to break free. Recognizing the signs of a problematic partnership is crucial for maintaining operational efficiency and growth. Identifying issues such as poor communication, missed deadlines, or […] #TechnologyInsights