Management Consulting/Management consultancy

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Question
Respected sir,
i am presently pursuing my Mba in marketing as majors and  minors in operations. Past a BE electronics & communication engineer with no work ex.

I am interested in starting up a management consultancy in later years. But what all sectors and field i can go in is quite not clear to me, and even how the business is managed and done is also unknown.

If i consider starting a consultancy now what should be done, and if i need experience in it then what all companies can be joined to gain sufficient experience.

does nationality plays a role in choice of a sector due to economy of the country ? I am an indian.

Answer
My  first  suggestion

-contact  career  consultant  and  do an  aptitude  test / ATTITUDE  TEST/
Psychographic test.
get  a second  opinion   of  your  interest.

Sometime  some gut feelings / warm feelings   may not
be  in  your   real  interests.

WHAT  IS  YOUR  REAL  INTEREST?

You  need  to  discuss  with  some  people  and  come  to  a
judgement, what  is  best  for  you.

The  questions   are  centered  around  
-personal  interest
-career  interest/ why
-subject interest
-career  plan
-career  goal
etc
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BEFORE  STARTING  AS  A CONSULTANT, BEFORE  STARTING  AS  A CONSULTANT, YOU  NEED  AT  LEAST  5  YEARS  OF  WORK EXPERIENCE.

IF  YOU START  A  CONSULTING  COMPANY  NOW,
MY  ASSUMPTIONS,
YOUR  CURRENT  SITUATIONS.
-your company  is  not  known.
-your  services  are  not  known in the  market.
-you/ your  company  have  no visibility  in the  market.
-market  awareness  of  your profile/ company's profile  is  almost  nil.
YOU NEED  TO  FAST TRACK  YOUR  PROFILE  
IN  THE  MARKET.
============================================
1. IN  THE  FIRST  STAGE,
-define  your product [ services]  you  are  offering
-what is  the  usp of  your  services
-what  is  the  uniqueness  of  your  operation.
-what  value  added   services  you  are  offering
-if  you are   different  from  others- WHAT  IS  IT.
YOU  MUST   DEVELOP   YOUR SERVICE PACKAGE- WELL  DEFINED.
========================================================
IT IS  PERSONALISED  APPROACH, THAT  WILL  BRING  BUSINESS.
WHAT  YOU KNOW  IS  IMPORTANT, BUT
WHOM  YOU  KNOW  IS MORE  IMPORTANT.
========================================
2.Develop a  brochure with   INFORMATION and   using the  set of  topics  listed below and more
if  you have.
•   WHAT  ARE  YOUR  MANAGEMENT  SERVICES
•   HOW CAN  YOU/YOUR SERVICE  IMPROVE A COMPANY'S BUSINESS PERFORMANCE
•   HOW WILL  YOU   FIX  ORGANIZATION  BUSINESS  PROBLEMS
•   WILL  YOUR  CONSULTING   FIT THE WAYS  THE COMPANY   DO BUSINESS
•   WHAT/WHEN   WILL  THE  COMPANY  GET  BACK  IN  BENEFITS
•   WHAT  ROI   WILL THE  COMPANY    GET  BACK  FROM  YOUR  SERVICE.  
•   ---INCLUDE  TANGIBLE   AND  INTANGIBLE
•   WHAT  OTHER  VALUE  ADDED  SERVICES  YOU  OFFER.

THIS   BROCHURE  SHOULD  BE  OFFERED
-as  printed  copies
-CD
-available  on   your  website.
=======================================
3.The emphasis  of  the information provided should  be  positive /
business  oriented, and  showing
-business impact
-integrated  information
-networking  with  customers
-integrating  with  the  company's  MANAGEMENT  PRACTICES
etc
----------------------------------------------------------------
4.PUT  A  SPIN ON   VALUE  ADDED   SERVICES / BENEFITS
------------------------------------------------------------------
5.EMPHASIS ON   TANGIBLE  SERVICE/VALUES  YOU OFFER
-----------------------------------------------------------------
6.LOAD  IT  WITH  INTANGIBLE  SERVICES/ VALUES
WHICH PEOPLE CANNOT SEE  BUT ARE RECEIVING FROM YOU.
------------------------------------------------------------------------------
7.PUT  HEAVY  EMPHASIS  ON  VALUE  ADDED SERVICES  YOU OFFER.
-------------------------------------------------------------------------
FIRST  STEP,  
-you  need  to create visibility  in   the  market.
-conduct  a  direct marketing    blitz./ using your brochure.
-follow  up  this  with  ''FACE  TO  FACE ''  PRESENTATION.
-offer  value   added  service ,  which  others   don't  offer.
it  must  be   an  unique  set  of  services.
======================================
SECOND  STEP,
-Pick   a  list  of,  say,  200  companies in   your   area.
-collect  the    managers' names.
-forward  a  covering letter/ brochure    outlining your  services    along  with
a  desktop  calender  or  something  similar  which   will be
in front  of  their  eyes  all  the  time.
===================================
THIRD,
-create  a   website,   which  will have   the  facility  for
*loading  
*loading   application  form.
=====================================
-----------------------------------
SHOULD COLLECT  THE
FOLLOWING  FROM   ALL  YOUR   CLIENTS.
-the  company profile.
-the  organization  structure
-the  client's  business  process.
-the  organization  culture
ALL THESE  WILL  HELP  YOU  TO  GET  THE  BEST  FIT
FOR  THE  CLIENTS.
==============================
*CONTINUAL  MARKETING / PROSPECTING   IS VERY  IMPORTANT.
*STAYING CLOSE  WITH  YOUR CLIENTS  IS  A  MUST.
==========================================
It  will  take   18/24 months of  sustained  effort
to  create visibility/  continual  income.
#####################################################

on the topic "how to convince a client"


FIRST,
-explain  all  the  features  of  your  consultancy  services
*what  are the  services  you  are  offering.
*what  types of services  you  have done
for others.
*what  are  the  benefits  the  clients  derive  from
your  services.
*how  do  you provide  the  services.
YOU  MUST  ELABORATE  CONVINCINGLY.
YOU  MUST  BE  FLUENT.
YOU MUST  EXHIBIT  YOUR  EXPERTISE
AND  KNOWLEDGE  OF  THE  PROCESS.

WHAT  IS  YOUR  CONSULTANCY  SERVICES
WHAT  YOU  CAN  DO  FOR  THE  CLIENT
=====================================

on the topic "how to close a sale"

YOUR  CLOSE  IS  AS  GOOD AS , YOU  MAKE
YOUR SALES  PRESENTATION  OF  YOUR  CONSULTANCY
SERVICES. IF  YOU  FALTER, IT  WILL MAKE  IT
DIFFICULT  TO  CLOSE  YOUR  SALE.

STEP  1--INTRODUCTION
-introduce  yourself / your  background

-introduce  your  consultancy/ its  services.
------------------------------------------------------------

STEP 2-INTEREST
-show interest,by  asking the  client about  his/her  company.
-how  they  are  doing.
-their manpower size
-their  types  of  people  employed like
sales/production/finance etc
-----------------------------------------------------------------
STEP 3-FACT  FIND
-what  is  their    program
-how  do  they  go  about
-what  kind  of  services  are  required , like
permanent / temporary/contract worker/ part  timers etc
----------------------------------------------------------------
STEP 4-LOCATE  APPLICATION
-what  services  are required  now
------------------------------------------------------------
STEP 5-INDENTIFY  NEED
-what is  the  urgency of  the  position
-do  the client  need  help in completing  these

THIS  STEP  WILL TAKE  YOU  CLOSER
THE SALES
-----------------------------------------------------------------
STEP 6-COMMITMENT
-show  commitment, by  proving
what  your  consultancy /you  can  do
to  take over the  responsibility/ complete
the  job  to  the client  satisfaction.

LITERALLY, HERE  YOU  ARE  THE  FOCAL
POINT.
-YOU ARE  THE FACE  OF  YOUR  CONSULTANCY
-YOUR  WORDS  ARE THE  WORDS  OF  CONSULTANCY
-YOUR  COMMITMENTS ARE THE COMMITMENTS
OF  THE  CONSULTANCY.
--------------------------------------------------------------------
STEP 7-PRESENT  BENEFITS
-reinforce  how  the  client  will  benefit
with  your  services.
----------------------------------------------------------------
STEP 8-CLOSE
-as  you  complete  your step  7,
ask  the  client,

*what  is  the  urgency of  the  fill-in
*when this position  need  to  be  filled -in
etc
PROMISE  IT  WILL  BE  DONE.
ASK  FOR THE  WRITTEN  ORDER.
==================================

THESE  STEPS IS  A  SYMBOLIC  REMINDER THAT
IF  YOU  MISS  ONE  STEP, IT  WILL MAKE
THE  ''CLOSE''  THAT  MUCH  DIFFICULT.
======================================
1.CLOSE  1-2-3  TECHNIQUE

Technique
Summarize in sets of three items. We will give you this, that and the other.
This may be features of the service , benefits or add-on sweetener items.
There are two ways to do this: they may either be closely related (to reinforce a single point) or may be quite separate (to gain greater coverage).
Most customers want service  that are free, perfect and available now. This is the classic business measurement trilogy of cost, quality and time.
Examples
I can help  you  with  your  job  analysis etc.
How it works
The 1-2-3 Close works through the principle of triples, a curious pattern where three things given together act as a coherent set of three hammer-blows that give a compelling message.
=============================================
2.ADJOURNMENT  TECHNIQUE
Technique
Do not go for the sale now. Give them time to think. Tell them that they probably need time to consider the offer you have made.
Use this when:
•   You can see that they are not going to decide now.
•   You have set up enough TENSION  that you are reasonably convinced that they will indeed seriously consider the deal and are likely to come back.
•   Given some more time, it is likely that they will buy more (for example if they are at the edge of a budgetary period and their current funds are low).
•   The relationship is important to you, and them making a wrong decision now would affect the chances of making sales in the future.
•   You do not need to make the sale today (for example you have made your quota and this sale would be just fine for next month).
Combine this with setting up the next meeting, when perhaps you will be able to solidly close the deal.
Examples
This is an important decision for you and I think you need time to consider how important it is. Shall we discuss the details further next time I see you?
I can see you're thinking very carefully about this. Shall I come back next week to see how you are progressing then?
How it works
In many sales situations the RELATIONSHIP  is very important as the sales person will be going back to the customer with more sales to make. It is thus a bad idea to push them into a decision when they are not ready and may later be unhappy about this.
Offering an adjournment can be a nice surprise for the customer, who may be expecting a harder style of selling. This sets up an EXCHANGE tension, encouraging them to pay back your offer of time with later agreeing to the deal.
The Adjournment Close is particularly easy to manage when the sales person visits the customer, as opposed to having to hope that they will call back.
====================================================
3.AFFORDABLE  TECHNIQUE
Technique
Close out any objections they have about price by making sure they can afford it.
Find how much they can afford. Then show that you have a finance plan that fits their capability to pay.
Bring in other factors to  REFRAME the real price, such as lifetime costs.
Show the price of not buying the service now.
Strip down what is being sold to the bare minimum. Remove all the options (and maybe sell them as separate items).
Sell them something else they can afford.
Last option: bring your price down to what they are prepared to pay.
Examples
How much per month can you afford...yes, we can make a deal for that...
The initial costs seems high, but by the end of the year you will have recouped the cos
If we can bring the price down to what you say, will you buy today?
How it works
The Affordable Close works by structuring the finance of the deal to fit into the other person's ability to pay.
'I can't afford it' is often more of an excuse than a real objection. If they really do not want to buy, you will find that they will immediately jump onto another objection.
==============================================
4.ASSUMPTIVE   CLOSE

Technique
Act as if the other person has made the decision already.
Turn the focus of the conversation towards the next level of questions, such as how many they want, when they want it delivered, what size they need, and so on.
Examples
When shall we deliver it to you?
How it works
The Assumptive Close works by the ASSUMPTIONS  PRINCIPLE, where acting confidently as if something is true makes it difficult for the other person to deny this. For them to say you are wrong would be to cast themselves as an antisocial naysayer.
Note: This is one of the most common closes used.
===========================================================
5.BALANCE  SHEET CLOSE  TECHNIQUE

Technique
List both the benefits of the purchase (the pros) and also the costs (the cons). Of course, the pros (the reasons to buy) will win.
You can even write it down like a balance sheet. Make sure the 'pros' column is longer and more impressive, of course.
Cons include things they wanted but are not getting.
Start with the cons and keep them short. But do make it sound credible, as if you are giving them fair consideration.
Then cover the pros. Perhaps sound pleasantly surprised as you describe them.
Sound reasonable, as if you are on their side.
Sound almost as if you are talking to yourself.
Examples
Well, although it costs this much and is a bit big, it will sound really good and fit well into your RECRUITMENT PLAN
Let's weigh things up. You're not getting ..., but you are well within your budget and will have ..., ... and .... Hmm. That's good!
How it works
The Balance-sheet Close works by building  TRUST  through appearing to taking a balanced and fair approach. It guides the other person's thinking and hopefully saves them the trouble of weighing up the pros and the cons.


================================================
6.CONCESSION   CLOSE TECHNIQUE

Technique
Offer a concession of something they want in return for them buying the SERVICE.
You can be explicit about wanting an order in return for the concession or you can give the concession without asking - the other person will very likely still feel they owe you something for it.
Examples
If I reduce the price by 10%, will you take the SERVICE today?
If you are ready now, I'll make sure it is delivered by the end of the MONTH.
How it works
The Concession Close works by offering the other person something and either requesting or implicitly expecting something in return - usually the sale.
The Concession Close is also called the Trade-off Close.

===========

I  AGREE  THAT  ‘’BUILDING  TRUST’’  AND  ‘’CREATING  CONFIDENCE  ‘’  IS  A  MUST FOR  LONGTERM  CONSULTANCY  SERVICES.

THIS  CAN  BE  ACHIEVED  BY  DEVELOPING  THE  FUNCTIONAL  CONSULTANT  COMPETENCES.  

FUNCTIONAL  CONSULTANT  COMPETENCES

 Competencies for CONSULTING  
Competencies are the "demonstrated skills, knowledge and behaviors of individuals and / or teams."

four examples of groupings
   
Personal Attributes Attributes are the unique characteristics and qualities which describe the business professional.
•   Results-Oriented
•   Efficient
•   Committed
•   Thorough
•   Forward Thinker *
•   Creative Thinker *
•   Communicator *
•   Relationship Builder
•   Service-Oriented *
•   Confident o Adaptable *
•   Objective

Leadership and Development Competencies
Obtaining maximum personal and law department leverage requires proficiency in these competencies, and allows a lawyer to assume a position of influence and power in an organization.
•   Leadership
•   Impact and Influence
•   Innovation
•   Teamwork
•   Developing People
•   Commitment to Learning

Business and Client Competencies
This body of knowledge and skills includes an understanding of the organization, its industry, its management practices and their applicability to the organization.
•   Customer-Focused
•   Achievement-Oriented
•   Resourceful
•   Critical Thinking
•   Strategic Business Sense


Functional and Technical Knowledge / Skills







Question:   What is the difference between a General bisiness consultant and a specialized business consultant?Thanks.

Management consulting indicates both the industry and practice of helping organizations improve their performance primarily through the analysis of existing organizational problems and development of plans for improvement.
Organizations hire the services of management consultants for a number of reasons, including gaining external (and presumably objective) advice and access to the consultants' specialized expertise.
Because of their exposure to and relationships with numerous organizations, consulting firms are also said to be aware of industry "best practices", although the transferability of such practices from one organization to another may be problematic depending on the situation under consideration.
Consultancies may also provide organizational change management assistance, development of coaching skills, technology implementation, strategy development, or operational improvement services. Management consultants generally bring their own, proprietary methodologies or frameworks to guide the identification of problems, and to serve as the basis for recommendations for more effective or efficient ways of performing work tasks.
The functions of consulting services are commonly broken down into eight task categories.[4] Consultants can function as bridges for information and knowledge, and that external consults can provide these bridging services more economically than client firms themselves.[5]
Consultants have specialised on tasks that would involve high internal coordination costs for clients, such as organisation-wide changes or the implementation of information technology. In addition, because of economies of scale, their focus and experience in gathering information worldwide and across industries renders their information search less costly than for clients.
FUNCTIONS  OF  CONSULTING
1.    providing information to a client;
2.   solving a client's problem;
3.   making a diagnosis, which may necessitate redefinition of the problem;
4.   making recommendations based on the diagnosis;
5.   assisting with the implementation of the recommended actions;
6.   building a consensus and commitment around the corrective actions;
7.   facilitating client learning;  permanently improving organizational effectiveness
In general, various approaches to consulting can be thought of as lying somewhere along a continuum, with an 'expert' or prescriptive approach at one end, and a facilitative approach at the other.
1.   In the expert approach, the consultant takes the role of expert, and provides expert advice or assistance to the client, with, compared to the facilitative approach, less input from, and fewer collaborations with the client(s).
2.With a facilitative approach, the consultant focuses less on specific or technical expert knowledge, and more on the process of consultation itself. Because of this focus on process, a facilitative approach is also often referred to as 'process consulting. The consulting firms listed above are closer toward the expert approach of this continuum.
Many consulting firms are organized in a matrix structure, where one 'axis' describes a business function or type of consulting: for example, strategy, operations, technology, executive leadership, process improvement, talent management, sales, etc. The second axis is an industry focus: for example, oil and gas, retail, automotive. Together, these form a matrix, with consultants occupying one or more 'cells' in the matrix. For example, one consultant may specialize in operations for the retail industry, and another may focus on process improvement in the downstream oil and gas industry.

Specialisation
Management consulting refers generally to the provision of business services, but there are numerous specialisms, such as information technology consulting, human resource consulting, virtual management consulting and others, many of which overlap, and most of which are offered by the larger diversified consultancies. So-called "boutique" consultancies, however, are smaller organisations focusing upon one, or just a few of, such specialisms.
The 1990s saw an increase in what has been termed a 'future-based' approach. This emphasised language and alignment of people within an organisation to a common vision of the future of the organisation, as set out in the book "Three Laws of Performance". The essential concept here was that the way people perform is seen to correlate to the way that world occurs for them, and that future-based language could alter the way the future actually occurs for them. These principles were increasingly employed in organisations which had experienced a market transition or a merger requiring the blending of two corporate cultures. However, towards the end of the 1990s the approach declined due to a perception that the concept outlined in this book did not in practice offer added value to organisations.






provides a wide range of consulting services including General Business Sales & Marketing, Computer Software Programming with product implementation, and Product Distribution consulting.
________________________________________

GENERAL BUSINESS CONSULTING
The company provides a very wide variety of general business consulting.  The service can be an in-depth multi year marketing analysis for a company the size of General Motors or a simple market research questionnaire for a new company just entering business.  In the past, CTI has provided support for numerous organizations to investigate, develop and implement product and market programs from the idea stage to the finished product. Our expertise covers:
•   New Product Programs • Creative Merchandising Strategies
•   Productivity Improvements •  Cost/Price/Profit/Studies
•   Short/Long Term Strategic Planning
•   Complexity Reduction Programs • Market Research Studies
•   Cost Reductions • Product Financial Analyses.
________________________________________

General business consulting :
• Business feasibility and start-up issues
• Business plan development
• Strategic planning
• Financial management and analysis
• Financing options and loan packaging
• Marketing
• Human resources
• Operations
==============================






SPECIALIZATION  CONSULTANTS
Market Research
Doing primary or secondary market research in Asia can be similar to doing market research in other parts of the world. In order to do market research that will be meaningful, however, the research normally needs to be done in the local Asian language. Getting feedback from the relevant experts in your industry is crucial. Also, Western market research questions often need to be tailored to meet each Asian country's unique dynamic. PBI has the expertise and language capabilities to conduct market research for companies in a wide variety of industries throughout the Asia-Pacific region.
-----------------------------------------------------------
Distributor Search
Finding the right distributor for your products in Asia entails some of the same criteria as finding a distributor in other parts of the world. Does the potential distributor sell synergistic products? Does the Asian distributor have excellent sales and marketing people as well as good in-house technical people? Distributor searching in Asia, however, oftentimes also requires additional criteria. Relationships are the key to doing business in Asia, so do not sign up distributors that you do not know well. Can you speak the distributor's local Asian language or is their English sufficient to communicate? Does the Asian distributor understand the notion of "conflict of interest?" Given the large geographic size and population of China and India, do you need multiple distributors in each country to cover the entire country? PBI can help you find trustworthy distributors for your products throughout the Asia-Pacific region.
-----------------------------------------------
Acquisitions, Joint Ventures, and Licensing
PBI assists clients with acquisitions, joint ventures, and licensing in Asia. PBI can help by:
•   Identifying and qualifying prospective partners through our Asian contacts.
•   Making presentations to partner candidates.
•   Arranging introductions to appropriate partner candidates.
•   Accompanying the client to meetings and assisting with negotiations on the client's behalf.
•   Providing guidance on appropriate deal structure, pricing, and other related issues.
•   Closing the deal.
•   Following up once the deal is signed and providing guidance during the implementation phase.

-----------------------------------------------------------------------


SPECIALIZATION  CONSULTING  ALSO  INCLUDES

1.Network and Application Assessment
   Baselines network and application performance and identifies issues that are causing, or could potentially cause, performance degradations.
   
        

   
        
     2.Predictive Analysis
   Addresses network capacity and end-user experience concerns in advance of new application rollouts, server and data center consolidations, or technology migrations.
   
        
   
   3.Virtualization Services
   Designed to help customers achieve a cohesive, unified view of both the virtualized computing environment and the physical environment, which is critical for understanding how virtualized applications are being delivered.
   
        
     4.Genius Service Delivery Manager Optimization
   Designed to maximize your investment in the nGenius Service Delivery Manager by identifying your organization’s most critical business services and applications and then defining, tuning and configuring support of those services in nGenius Service Delivery Manager.
   
        
     5.Sniffer-Focused Intelligence Solutions
   Extends the power of the nGenius Service Assurance Solution outside its traditional boundaries to meet the unique requirements of a select group of customers for specialized and/or automated reporting, archiving, integration and analysis.
   

      
        
       
        
       
        
       
•   6.ActionCoach
Business coaching, mentoring and training


•   7.The Alternative Board
Peer advisory boards and business coaching

•   8.Business Round Table
Mentoring groups for small businesses

•   9.Estrada Strategies Franchise Inc.
Executive coaching programs

•   10.EWF International
Peer advisory groups and consulting for women business executives and owners


•   11.Growth Coach
Small-business coaching and mentoring

•   12.Inner Circle International Ltd.
Peer advisory groups for business owners




13.Financial services, savings plans and consulting services for small to midsize businesses


14.Business Advisers International
Provides consulting, mentoring, facilitation, and training services for businesses


•   15.Century Small Business Solutions
Accounting and business counseling

•   16.Business Brokers
Business and financial brokerage, franchise development and sales




•   17.United Marketing Solutions
Consulting with small businesses on advertising, marketing and direct mail solutions and services



18.Bridge Business and Property Brokers Inc.
Business/commercial brokerage, mergers and acquisitions, and financing consulting services for businesses






•   19.Manufacturing Management Associates
Consulting to small and medium-sized manufacturing businesses


20.Sales Institute
Corporate training and development consulting services

######################################  

Management Consulting

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Leo Lingham

Expertise

management consulting process, management consulting career, management development, human resource planning and development, strategic planning in human resources, marketing, careers in management, product management etc

Experience

18 years working managerial experience covering business planning, strategic planning, corporate planning, management service, organization development, marketing, sales management etc

PLUS

24 years in management consulting which includes business planning, strategic planning, marketing , product management,
human resource management, management training, business coaching,
counseling etc

Organizations
PRINCIPAL -- BESTBUSICON Pty Ltd

Education/Credentials
MASTERS IN SCIENCE

MASTERS IN BUSINESS ADMINSTRATION

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