| ign="center"> | | | | and then realized that I was the most expert person |
| Copyright (c) 2008 Linda Feinholz | | | | about their strategy... and that was not the vision I |
| What was once a 'perfect fit' has changed, several | | | | hold for my clients. |
| times in fact. I was reminded of that when I joined | | | | I'm passionate about people being more expert and |
| 250 colleagues at our annual get together this week. | | | | more capable at their business. So I shifted from |
| That's 250 of over 1,000 members of the ProVisors | | | | 'doing' their plans, to guiding them through the thinking |
| organization of expert business advisors in Los | | | | and decision making and planning so that they are |
| Angeles. As I chatted with people I haven't seen in | | | | continually more expert in their business. |
| months, or even a year, we caught up on all the | | | | Did that change whom I work with? You bet! Today |
| ways we've each grown and changed our own | | | | I work with people who want to become more |
| businesses. | | | | skilled than they are now, and not those who want |
| Time and again in those conversations we described | | | | to outsource key decision-making to others. |
| the business model we're now using, and who we | | | | Those big business credentials? They're an interesting |
| are as professionals and business owners. And for | | | | talking point, but nowadays prospective clients want |
| many of us, those models have changed. | | | | to know other things: Can I help them get clear on |
| Here is some of my own learning. You might find it | | | | their business vision and goals? How quickly can I help |
| thought provoking as you consider your own. | | | | them build more effective teams? And what should |
| When I moved into independent consulting in 1994, it | | | | they do about work-arounds they've used to avoid |
| thrilled me. Coming from many years of consulting | | | | fixing obstacles? |
| with corporate giants like Avon, Disney, and clients of | | | | The result? I have clients who realized they had |
| mega advisory firm Ernst & Young, I had a treasure | | | | by-passed a profitable niche by doing scattershot |
| chest of planning, management and problem solving | | | | marketing. Others saw an unprofitable product could |
| tools to use with mid-sized business's challenges. | | | | be a powerhouse door opener that always leads to |
| I trimmed and simplified the systems and processes | | | | up-sells that are 30-50% profitable. And some clients |
| of those complex large-scale companies down so | | | | realize they're devoting resources to a product line |
| they'd be perfect for professional services firms, fast | | | | that isn't part of their core offering, and holds a |
| growing start-ups, and second-generation family | | | | higher value if they sell it off. |
| owned businesses. | | | | Each time I think I've got my own business model |
| Having my corporate background has been a | | | | set, the external world changes my own |
| tremendous door opener for speaking engagements | | | | opportunities dramatically - new technology, changing |
| as well as with clients. (Quite honestly, I loved that | | | | business models across industries, new customer |
| professional identity!) It's also been a quick credential | | | | expectations for response time and so on. |
| with colleagues who provide different services to the | | | | Just as my clients have to stay 'fresh and relevant' |
| same clients. It's enabled me to build a Rolodex of | | | | for their customers, so do I. So, just as I challenge |
| experts to solve my clients' challenges in financing, | | | | my clients' thinking about their business, I repeatedly |
| insurance and legal matters. | | | | challenge my own. |
| That 'credential' has enabled me to build the | | | | Here are some questions I ponder: - How long have I |
| independent consulting business that brings in a | | | | been delivering my products or services 'this' way? - |
| healthy six figures with no additional staff or | | | | What circumstances brought me to this business |
| infrastructure for nearly fourteen years. | | | | model? - Have those circumstances changed |
| However, just as my clients' businesses have | | | | significantly? - Does my model reflect what the |
| changed over the past few years, my business has | | | | market is seeking now? - Does my message reflect |
| changed. I've changed. | | | | who my clients are now? |
| With each passing year, as my personal expertise | | | | What about you? When did you last check whether |
| grew, my interests and focus shifted - sometimes | | | | your own business model is a fit today for your |
| very naturally and incrementally. And sometimes I | | | | opportunities and the way YOU want to work? |
| could see that I wanted to make huge shifts that | | | | If you are in a growing stage of your business (or |
| required deliberate redesign. | | | | want to be), the strongest advice I can give you is: |
| For instance, during the first four years of my | | | | Go for Something That Reflects Your Future, Not |
| independent consulting work, clients asked me to | | | | Your Past. |
| develop business plans for them. I did many plans, | | | | |