ENVELOPE PLEASE - WILLIAM EASTMAN

PROFIT RADIO..."Grow With Us"

Introduction
This is a very different topic from our usual focus on business acumen. This series on consulting covers both the business and technical sides of the business. Last week we discussed "Creating Your Future" as a small business consultant. I could have added coaching and we will cover the business side leaving the technical aspects of that business to other experts.

The goal of this series is two-fold, (1) help those individuals wishing to get into the industry, specifically small business consulting, and (2) to help the station in our mission of increasing the number of successful startups, creating generational wealth for the owner, and increasing local jobs. We are more than a radio station but don't have the people on the ground needed to provide the 1:1 attention required to successfully implement

Look at IBGR as your CGO - your virtual Chief Growth Officer. In that mode we have built a platform that will move beyond the one-way conversation of radio and podcasts to real relationships; our Community of Commerce.

A thought before we start, I want to invite you to my new group on the Community - Living the Life . If you are a serial entrepreneur and looking to discuss how to build a business that runs itself so you can start running multiple businesses - this is the right spot.

LISTEN > ENGAGE > APPLY

Objectives - The WHY
My goal for this show is to provide your consulting choices. In general terms there are ^ Practice Domains in the industry and you need to decide where does your talent, education, and experience allow you to practice.

There is no consultant or consulting firm that covers all 6 so cut yourself some slack. Find a lane that fits you and stick to it and partner for the rest

I'll use my choices as an example. Given talent, education, and experience I have run several consulting firms that operated in the Strategy & OD and Human Resources Domain. After several years we expanded into Operations Management and specifically the principles of lean.

Key Issues - Owner Perspective:

1. What type of consulting matches your talent - Subject Matter Expert of Asset based?
2. Which Practice Domains fit your education?
3. Which practice Domains fit your experience?

What You Need to Know - The WHAT​
The Practice Domains

• Strategy & Organizational Development Services
  • Professional services focused on improving the long term, strategic health of a company. The Strategy component covers general business planning, organizational design and development, initial public offering, and the strategic aspects of mergers and acquisitions. The Organizational Development component focuses on systematic change to achieve strategic goals.
    • This Professional Services Practice includes Strategy, Segmenting the Market and create a Distinctive Brand, Design the Organization, Build a Plan, create a High Performance Culture, and manage the process of Change.
• Operations Management Services
  • Professional services focused on improving the operational aspect of an organization, which are often targeted at a specific process or function. These services include business process re-engineering, total quality management, logistics, and project management.
    • This Professional Services Practice includes Performance Improvement, Operations Risk, Research and Development, Customer Management, and Financial Operations.
• Technology Services
  • Professional services focused on improving the way organizations store, retrieve, disseminate, and utilize information. These services include IT strategy planning, design and analysis, and implementation. As second segment of focus is the application of Science and Engineering concepts, practices, and theory to promote business needs.
    • This Professional Services Practice includes IT Strategy & Planning and IT Design & Architecture.
• Human Resource Services
  • Professional services focused on improving the business performance of organizations through issues around people. Historically, Human Resources has been focused on the roles of control and compliance: operational and administrative tasks such as payroll and benefits, legal compliance, recruiting, on-boarding, and training. All of these activities continue to be important management tasks, but effective Human Resources today is more about the strategic alignment people issues to organizational objectives.
    • The effective management of human resources and ensuring people are a competitive advantage has 4 major components: Compliance, Safe Work Environment, Discretionary Performance, and Pay and Benefits.
• Financial Performance Services
  • Professional services focused on business valuation, reinvestment into growth, cash flow management. This practice covers sell side Mergers & Acquisitions (divestitures, private and public company sale), buy side M&A, Mergers, Joint Ventures and other business combinations. This includes financial restructuring, distressed debt and M&A situations, fairness opinions, board of directors advisory role (strategic business review, including both M&A, and non-M&A strategic initiatives), review of capacity (marketing, sales, production, service) and its return on budget.
    • This Professional Services Practice includes Capital Strategy, Shareholder Strategy, Merger & Acquisition Strategy, and a Growth Strategy.
• Marketing & Sales Services
  • Professional services focused on improving the way organizations manage the entire customer (marketing, sales, and service) life cycle. These services include market share management, market segmentation (total available market and specified available market), traditional and virtual marketing methods, tactics of pricing and terms, sales - opening-moving-closing, and up- selling with existing accounts.
    • This Professional Services Practice includes Marketing, and Sales.

What You Need to Do​​ - The HOW
The old business model for management consulting was straightforward, the model simple: loaning an industry or subject matter expert to solve problems a client cannot solve, or chooses not to tackle themselves. 

The new consulting model moves from billable hours to business results. The benefit for clients is clear if they will take on the additional work. No longer can they offload the responsibility for implementation to the consultant or the consulting organization. 

We are your single, one stop source for business success, period, end of story.

1. ​Listen to the Consulting Series 
2. JOIN the Community of Commerce and receive your Special Report on the Sub-Domains.
3. Show Up Next week

Make sure you leave some thoughts in the comment section below. I am interested in continuing the conversation.

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