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Consultancy Management

How to Protect Your Ideas

Suppose you have a great idea with your consulting that you would like to patent. Well, patenting is excessively time-consuming and complicated, so how should you approach that? In a post at the Institute of Management Consultants, Mark Haas makes a couple recommendations. One—you can have clients sign a non-disclosure agreement (NDA), so that you can use your brilliant idea without having to worry about people getting loose-lipped about the nature of its brilliance. Or …

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5 Tips to Expand Internal Consulting beyond the Business

Internal consulting is when a business maintains its own in-house consultancy that it uses to help it solve business challenges. Maintaining an internal consultancy is cheaper and better integrated into the business than hiring outside consultants. Especially successful internal consultancies are starting to want to expand to do business for other companies. In a post for Source Global Research, Fiona Czerniawska provides five tips to do it: Know what makes you special. Understand your market. …

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Do You Make the Time for Leadership?

The most challenging aspect of providing great leadership is that leadership takes a different form according to the situation. In a post at Consulting 101, Lew Sauder shares a story of short-sighted leadership and derives some lessons for us to remember. Take the Lead Sauder had an engagement “where the president of the company flew in for the monthly steering committee meeting. He would schmooze the client, take them out to lunch, and assure them …

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Why You Should Charge Clients More Than You Think You’re Worth

It is a very noble soul who does not want to wrench every last penny from clients. That being said, it is important for that noble soul not to sell him or herself short either. In an article for Harvard Business Review, Dorie Clark explains why consultants should probably be charging more than they think they are worth. The Value Perception In the first place, you should beware the mistake of underpricing yourself. Price is …

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3 Things It Takes to Get a Deal on Shark Tank

Everyone I know who has watched ABC’s show Shark Tank has enjoyed it, because it reinvigorates the idea of the American Dream in just an hour per week. It shows that a great idea and hard work can pay off tremendously. But there are nuances to closing the deal, and these are lessons from which consultants too could learn. In an article for Inc., Allison Fass outlines some tips garnered from Kevin O’Leary on how …

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IBM Pays Its Employees to Take Time Off to Solve World Problems

In an article for Fast Company, Ben Paynter dives deeply into the ways that IBM deploys its employees to solve problems that help the world. For instance, in 2016 IBM established IBM Health Corps grants, where they pay their employees to take time off and take on complicated world health issues. And in addition to Health Corps, there are also Corporate Service Corps (“for all manner of nonprofit, government, or social entrepreneurial idea”) and Smarter …

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What Does Bad Strategy Look Like?

Every business purports to have a strategy, but not every strategy is good. A post at Consultants Mind combines the established literature with personal experience to create a picture of what bad strategy looks like. And in fact, bad strategy can take multiple forms. Headed for Oblivion According to McKinsey, bad strategy can (1) fail to face problems, (2) mistake goal-setting as a strategy, (3) lay out bad strategic objectives, and/or (4) be utter fluff. …

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20 Rules to Find and Maintain Clients from David Ogilvy

David Ogilvy was a titan of advertising, and it was not by accident. He operated by rigorous principles that set him apart. In an article for Medium, Robert Williams collects 20 rules that he identified in Ogilvy’s work that allowed Ogilvy to become a master-level consultant. The Outline of Success Regard the hunt for new clients as a sport, but get serious once you actually land the business. Never work for a client so big …

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Hidden Pitfalls of Going Freelance in IT

If you love IT and technology but do not love a desk job, then making the jump into freelancing sounds like a very attractive option. Are you ready to manage all the caveats that come with that newfound freedom though? In an article for CIO magazine, Bob Violino collects insights from experts who have been down that road and prepares you for what to expect in the world of IT freelancing. Plotting Past Peril In …

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Stopgaps Are Still Gaps

When a business problem arises, there are comprehensive solutions and there are fast solutions. Fast solutions are easy and typically inexpensive, whereas comprehensive solutions may be slower and almost certainly cost more. In a post at Consulting 101, Lew Sauder discusses how the cheap solutions do not always turn out so cheap after all. Namely, if you have to address the same problem with some variant of the cheap solution multiple times, then it might …

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