Any Advise for a Management Consulting Company that has hit the brick wall?

A friend of mine is the owner and founder of a 16 year old management consulting company. He does fairly well but most of his business comes from picking up the crumbs left by large consulting firms. Says he does a lot of clean up work where the bigs boys come in, crap all over everything and fly off with their $100,000 fee.

He bills about 1/2 million a year and nets 6 figures but he knows he can do better. He is pretty much a one man shop and has tried hiring salemen in the past but it never worked out for one reason or another.

Anybody know anyone who specializes in helping consultants break through the brick wall?

James


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> A friend of mine is the owner and founder of
> a 16 year old management consulting company.
> He does fairly well but most of his business
> comes from picking up the crumbs left by
> large consulting firms. Says he does a lot
> of clean up work where the bigs boys come
> in, crap all over everything and fly off
> with their $100,000 fee.

> He bills about 1/2 million a year and nets 6
> figures but he knows he can do better. He is
> pretty much a one man shop and has tried
> hiring salemen in the past but it never
> worked out for one reason or another.

> Anybody know anyone who specializes in
> helping consultants break through the brick
> wall?

> James

Your friend needs to learn how to build those crumb clients into really productive accounts. How? Well, here are a few ideas:

1. Ask when their next job is up for bids (and who's handling the bidding). If you don't ask, you don't get on their notification list, and others get the jobs.

If they contract out for a year, find out when their next contract bids will be and what the bidding procedures are (they often have an information packet for bidders).

2. Let them know you may be able to save them some money on their next bid (remember you don't have the high overhead the big boys do).

3. Send them a 'thank you' follow up any time you do some work for them. In that subtly mention that you have the facilities to do larger jobs for them as well.

4. Ask them for a referral when you've done a good job for them. It gets them to thinking about you and keeps you in their mind when considering job bids etc.

5. Make up a very professional brochure and distribute it to your crumb clients to show them what you really CAN do for them. Forget the small time stuff, show a variety of situations, get some testimonials from satisfied clients, make it sing to them! Don't forget to include your business card. If it can be swiped into a computer card reader to be added to their database, so much the better.

Hope this is some help.

Sandi Bowman

What is the "Pedestal" account?

Go get the BIGGEST....MOST PRESTIGIOUS ACCOUNT you can....even if you have to practically give away your services.

THEN....you can point to this client as "yours" and use this account as your "Pedestal" account.

No one needs to know that you practically gave away your services to get this client. And the client will not tell anyone that they got your services for cheapo. Why? Because it make THEM look "cheap". Which they don't want to do.

Other clients will see this "Pedestal" account and think, "Hey! If this guy can handle that account...they can handle my account!"

It's the "Domino Effect".

I just finished a project that has to do with placing restaurant menus in a book of menus and placing the book at the front desk of Hotels & Motels.

I went to the most prestigios restaurant in the town and showed them my sample Menu Book and told the owner I would put him in for FREEBIES.

He accepted.

I then made up a sample menu page for this most prestigious restaurant and then proceeded to contact the other restaurants in town and guess what?....9 out of 10 restaurant owners I showed my sample Menu Book to....BOUGHT!!!!

WHY?

Because they felt that if the "big boy in town thought this program was a good idea...it MUST BE OK!"

Don Alm

> A friend of mine is the owner and founder of
> a 16 year old management consulting company.
> He does fairly well but most of his business
> comes from picking up the crumbs left by
> large consulting firms. Says he does a lot
> of clean up work where the bigs boys come
> in, crap all over everything and fly off
> with their $100,000 fee.

> He bills about 1/2 million a year and nets 6
> figures but he knows he can do better. He is
> pretty much a one man shop and has tried
> hiring salemen in the past but it never
> worked out for one reason or another.

> Anybody know anyone who specializes in
> helping consultants break through the brick
> wall?

> James




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Honest Don, this is not to be confrontational, but your town of Roseburg is very small, so I am wondering how your menu binder can compete with the mini menus that are being made up for area restaurants, and also being distributed at motels and hotels. Are they both being placed in the same places? How many hotels and motels do you have in that area?

....you do NOT leave your identity!

What is your "real" reason for asking THESE questions? HMMMM!....Mystery Guest!

Don Alm

> Honest Don, this is not to be
> confrontational, but your town of Roseburg
> is very small, so I am wondering how your
> menu binder can compete with the mini menus
> that are being made up for area restaurants,
> and also being distributed at motels and
> hotels. Are they both being placed in the
> same places? How many hotels and motels do
> you have in that area?

How could someone start a real estate investment group could they start it with little money down...

Of course, I don't know if your friend already does these, but here are a couple ideas off the top of my head:

1) Ask himself what other products/services his clients may also need and arrange to sell those (i.e., thru endorsement or some other JV arrangement, buying resell rights, referral fees, etc.). Possibilities for corporate clients include sales training, marketing consulting, financial/investment consulting, computer prod/svcs, insurance & similar benefits, etc. Of course, if his clients are relatively local, he might also JV for offers to client's employees (e.g., jeweler, chiropractor, car dealer, pool installer, accountant, etc.).

2) "Management consulting" can cover quite a range of things. Does he specialize in any particular services? How about a niche industry? Knowing the ins-n-outs of a particular kind of business's needs would give him the expertise to justify raising his fees.

Hope that helps..

Chris

> A friend of mine is the owner and founder of
> a 16 year old management consulting company.
> He does fairly well but most of his business
> comes from picking up the crumbs left by
> large consulting firms. Says he does a lot
> of clean up work where the bigs boys come
> in, crap all over everything and fly off
> with their $100,000 fee.

> He bills about 1/2 million a year and nets 6
> figures but he knows he can do better. He is
> pretty much a one man shop and has tried
> hiring salemen in the past but it never
> worked out for one reason or another.

> Anybody know anyone who specializes in
> helping consultants break through the brick
> wall?

> James