Ask any small business owner about their most challenging business task and at the top of that list will be “marketing” or “promoting their business.” Whether you are a start-up or an established business, the question remains the same: “How do I attract more clients?” Independent agents or consultants have an additional set of challenges–time, money and resources. As a one-person show, you don’t have the luxury of relying on employees to assist you in your marketing efforts or spending thousands of dollars on advertising. To maximize your exposure, you have to be a little more unconvention ..read more

The rise of artificial intelligence (AI) is initiating a plethora of opportunities across industries. In consulting, the successful adoption of AI allows consultancy firms to enhance their offerings, and streamline their internal operations to better meet stakeholder demands. Diego Barilla, a former McKinsey & Company partner and now Chief Customer Officer at Globality, on how AI can enhance the procurement process of consulting firms. Services are about people – their experience, their work styles and their personalities. It can be challenging for consultancy firms to accurately evaluate ..read more

Operational transparency is exactly what it sounds like. Showing the customer how hard you are working for them. Think of a restaurant with an open kitchen format so you can see the food being made. Think of Amazon that let’s you track the progress of your package. Think of your landscaper who leaves a note on your door, that indeed, he did cut the lawn today. In a world where we’ve been accustomed to friction-less transactions (read: everything is easy and available), it’s often helpful to remind customers of the work involved. Yo, this ain’t easy. . . So what’s the big deal? Ryan Buell, (pro ..read more

This HBR article has a catchy title: Why Consultants Quit Their Jobs and Go Independent (July 2019). You can easily guess the top 3 reasons: 1) More work-life balance 2) Better compensation, sometimes 3) Less internal politics. The potential downsides are equally obvious: 1) Fewer / no benefits 2) More swings in income. I know a few hundred consultants, and a few hundred ex-consultants, so thought I’d weigh in on this article: Get a (better) sample size This article cites an online survey with a sample size of 307. n=307? Hmm, that’s a small number of people who self-selected to take this surv ..read more

Over the last few years, we’ve worked with thousands of the best independent consultants, from those just starting out to Partners at the highest levels. And we’ve found that the keys to success as an independent consultant are remarkably consistent. To help you on your path as an independent consultant, here are ten top tips from some of our best consultants. 1 – Don’t be afraid to try it Just because you try it doesn’t mean you can’t go back if it’s not for you. – Eli Diament 2 – Set aside a little nest egg The first thing you must do is set aside a good portion of income to make sure you ha ..read more

Independent consultants who dare to invest in marketing and sales efforts are likely to earn larger salaries, according to a new study. More than 50% of consultants who invest $5,000-$25,000 in their marketing are making more than $150,000 per year. The UK’s gig economy has continued to boom well into 2018, with the country now playing home to an estimated 5 million self-employed people. The professional services sector is a major driver of growth in this area in particular, with the number of freelance workers in Britain having reached 2 million since 2001. Over the past three years, this bur ..read more

The number of UK businesses in significant financial distress in the first quarter of 2019 has increased, while those under critical distress has ramped up by 17% on last year’s levels. According to a new study, some 484,000 businesses are vulnerable, thanks to a perfect storm of economic and geo-political uncertainty. Over the last three years, flagging consumer confidence has been dented by stagnating pay, while the price of many products and services has been hit by inflation, thanks to rising import prices relating to the ailing pound. While increasingly high employment has helped to mitig ..read more

With a seemingly endless Brexit process set to lumber on until the end of October 2019, the UK Government has handed a new round of contracts to consulting firms regarding its divorce from the EU. Worth around £160 million, some of the contracts are set to last until Spring 2020, and will pay some of the world’s largest professional services firms between £3 million and £6 million each. The British Government finds itself attempting to modernise its structures, processes and tools in order to alleviate a time of acute pressure for policymakers and implementers, alike. Particularly important to ..read more

The McKinsey consulting case interview – there are so many things to become familiar with in McKinsey consulting interview prep. Of course, there are the basics that you have to learn. But additionally, there are things that most people don’t know that can make a difference on interview day. Listen to Jenny Rae as she drills down on those things most never knew about McKinsey case interview examples. McKinsey Case Interview: 4 Things You Never Knew YouTube Transcription: The McKinsey case interview. There’s a lot to know, about McKinsey consulting case interviews but there’s also a lot that yo ..read more

In today’s gig-driven economy, companies are happily looking for ways to bring in trusted independent voices to help out their operations. Consultants are hired as freelance or as-needed employees who can bring a fresh take and a third-party perspective to any office. This modern way to drive business and see results is also still finding its footing in the digital age and risks are still a factor. In this case, having professional liability insurance for consultants and firms is important to have in place. Also, important are understanding the challenges that agents and consultants face in th ..read more