Many individuals strive to make the transition from subject matter expert to successful consultant. However, subject matter expertise only accounts for about 75 percent of a successful consulting engagement. The other 25 percent relates to customer and team management skills. As a result, not everyone succeeds in making the transition in the professional services world. Failed engagements are problematic for consultants and for their clients, from the standpoint of profitability and reputation. In The Seven Principles of Professional Services, Shane Anastasi describes the practices and frameworks he has used repeatedly to transform unhealthy professional service teams into growth engines that are committed to customer success. The results are fewer escalations, happier clients, less downtime, and higher profit margins.
The Profitable Consultant tells beginning management consultants how and why to get started. Jay Niblick advocates and explains processes called “education-based marketing” and “the diagnostic sales process.” Consultants learn how to generate sales without selling, except for closing. These strategies are unconventional, but becoming widely popular. Consultants can employ many described strategies that will make business come to them. The Profitable Consultant also makes detailed cases against undercharging and accepting undesirable clients and for other practices that increase profitability, how to price consulting, and how to develop materials that provide residual income.
