Consultancy. What to do?
Discussion
I am 55 and am thinking about partial retirement and living in France full time but traveling back for a few months at a time for specific projects. I hear people talk about "doing consultancy work" and I was wondering if anyone had done this and how they approached it
My specific skills are within the motor industry with dealers, manufactures and motor factors
Particular skill set would be Managing sales people, building businesses, teams etc, parts and aftersales management, stock management mostly at a group or director level but obviously worked in roles building up to this over the years.
The type of thing I would be looking at I think would be restructuring a business, developing a sales team or process, reducing inventory, short term position covering loss of a key person etc.
Any thoughts?
My specific skills are within the motor industry with dealers, manufactures and motor factors
Particular skill set would be Managing sales people, building businesses, teams etc, parts and aftersales management, stock management mostly at a group or director level but obviously worked in roles building up to this over the years.
The type of thing I would be looking at I think would be restructuring a business, developing a sales team or process, reducing inventory, short term position covering loss of a key person etc.
Any thoughts?
Set up your own company and all the other stuff around it like business cards etc
Get your LinkedIn up to date and looking good. Clearly identify your specialisms and have examples including return on investment evaluations to show impact.
Identify contacts that you have worked with that may be able to get you that first contract
Identify any recruitment consultancies that deal with your specialist areas and get in there to see if they can help you get your first role
Think about your pricing especially with your first clients as you need the feedback to help you later
Look at how professional consultancies work in terms of pitching for work, writing statements of work, updating the client on progress and closing down projects etc and put together similar processes
In tandem with the point above get hold of the latest edition of Peter Block’s Flawless Consulting and read it from cover to cover. These two points will help set you apart from the huge number of people trying to do self employed consultancy and in reality treating it as if they are just a well paid temp.
Get your LinkedIn up to date and looking good. Clearly identify your specialisms and have examples including return on investment evaluations to show impact.
Identify contacts that you have worked with that may be able to get you that first contract
Identify any recruitment consultancies that deal with your specialist areas and get in there to see if they can help you get your first role
Think about your pricing especially with your first clients as you need the feedback to help you later
Look at how professional consultancies work in terms of pitching for work, writing statements of work, updating the client on progress and closing down projects etc and put together similar processes
In tandem with the point above get hold of the latest edition of Peter Block’s Flawless Consulting and read it from cover to cover. These two points will help set you apart from the huge number of people trying to do self employed consultancy and in reality treating it as if they are just a well paid temp.
Edited by craigjm on Saturday 20th January 20:49
BrabusMog said:
Whose business are you "restructuring"? How are you going to be able to influence change when you're not "on site" as you sit in France? They're the first few red flags, of many.
He doesn’t say he will be sitting in France he says he will travel back from time to time for projects BrabusMog said:
Whose business are you "restructuring"? How are you going to be able to influence change when you're not "on site" as you sit in France? They're the first few red flags, of many.
I say it in the post. I would travel to the Uk for 3 months (or so) to do specific projectscraigjm said:
Set up your own company and all the other stuff around it like business cards etc
Get your LinkedIn up to date and looking good. Clearly identify your specialisms and have examples including return on investment evaluations to show impact.
Identify contacts that you have worked with that may be able to get you that first contract
Identify any recruitment consultancies that deal with your specialist areas and get in there to see if they can help you get your first role
Think about your pricing especially with your first clients as you need the feedback to help you later
Look at how professional consultancies work in terms of pitching for work, writing statements of work, updating the client on progress and closing down projects etc and put together similar processes
In tandem with the point above get hold of the latest edition of Peter Block’s Flawless Consulting and read it from cover to cover. These two points will help set you apart from the huge number of people trying to do self employed consultancy and in reality treating it as if they are just a well paid temp.
Thanks. I will give the book a read. Get your LinkedIn up to date and looking good. Clearly identify your specialisms and have examples including return on investment evaluations to show impact.
Identify contacts that you have worked with that may be able to get you that first contract
Identify any recruitment consultancies that deal with your specialist areas and get in there to see if they can help you get your first role
Think about your pricing especially with your first clients as you need the feedback to help you later
Look at how professional consultancies work in terms of pitching for work, writing statements of work, updating the client on progress and closing down projects etc and put together similar processes
In tandem with the point above get hold of the latest edition of Peter Block’s Flawless Consulting and read it from cover to cover. These two points will help set you apart from the huge number of people trying to do self employed consultancy and in reality treating it as if they are just a well paid temp.
Edited by craigjm on Saturday 20th January 20:49
Do you want to do this work or is it being forced upon you? You mention "retirement" but is this what is actually happening?
I'm asking these questions basically to find out what you have to do; not what you'd like to do.
I'm an accountant and did "consultancy" for many years - from choice in my case - and it may not be the easy option you think. Now I don't have exceptional abilities or experience but, nevertheless, getting work is a major aspect of the job and one you cannot afford to neglect; you have to spend part of your time worrying about the next job; marketing yourself is not just an extra it is an essential.
If you have contacts so much the better and the more and varied contacts the better; a lot of work will come from contacts.
At 55 if you have a choice and want to retire in the next ten years I would think very carefully about this; it sounds great and for a minority it is but for many it isn't great at all and you need to be aware of this before you make any irrevocable decisions.
I'm asking these questions basically to find out what you have to do; not what you'd like to do.
I'm an accountant and did "consultancy" for many years - from choice in my case - and it may not be the easy option you think. Now I don't have exceptional abilities or experience but, nevertheless, getting work is a major aspect of the job and one you cannot afford to neglect; you have to spend part of your time worrying about the next job; marketing yourself is not just an extra it is an essential.
If you have contacts so much the better and the more and varied contacts the better; a lot of work will come from contacts.
At 55 if you have a choice and want to retire in the next ten years I would think very carefully about this; it sounds great and for a minority it is but for many it isn't great at all and you need to be aware of this before you make any irrevocable decisions.
Sogra said:
I am 55 and am thinking about partial retirement and living in France full time but traveling back for a few months at a time for specific projects. I hear people talk about "doing consultancy work" and I was wondering if anyone had done this and how they approached it
My specific skills are within the motor industry with dealers, manufactures and motor factors
Particular skill set would be Managing sales people, building businesses, teams etc, parts and aftersales management, stock management mostly at a group or director level but obviously worked in roles building up to this over the years.
The type of thing I would be looking at I think would be restructuring a business, developing a sales team or process, reducing inventory, short term position covering loss of a key person etc.
Any thoughts?
First thought would be whats your track record? My specific skills are within the motor industry with dealers, manufactures and motor factors
Particular skill set would be Managing sales people, building businesses, teams etc, parts and aftersales management, stock management mostly at a group or director level but obviously worked in roles building up to this over the years.
The type of thing I would be looking at I think would be restructuring a business, developing a sales team or process, reducing inventory, short term position covering loss of a key person etc.
Any thoughts?
If you can advise me how to do it show me where you have done it & made a profit as a dealer.
GT03ROB said:
First thought would be whats your track record?
If you can advise me how to do it show me where you have done it & made a profit as a dealer.
Without being too modest I would describe it as spectacular. I will be more than able to demonstrate exceptional results and turnarounds. If you can advise me how to do it show me where you have done it & made a profit as a dealer.
Sogra said:
GT03ROB said:
First thought would be whats your track record?
If you can advise me how to do it show me where you have done it & made a profit as a dealer.
Without being too modest I would describe it as spectacular. I will be more than able to demonstrate exceptional results and turnarounds. If you can advise me how to do it show me where you have done it & made a profit as a dealer.
anonymous said:
[redacted]
In part as I have matured so have my views. I also enjoy passing on some of the knowledge I have gained over the years. I also think what I have seen have been people who haven't done it well, people so far from the problem and the client that they don't get the buy in from any of the people in the business. With regards to what what I would do differently thats why I am asking for views and advice, so that I can better understand what it is when other people say "they are doing consultancy"
bludger said:
Do you want to do this work or is it being forced upon you? You mention "retirement" but is this what is actually happening?
I'm asking these questions basically to find out what you have to do; not what you'd like to do.
I'm an accountant and did "consultancy" for many years - from choice in my case - and it may not be the easy option you think. Now I don't have exceptional abilities or experience but, nevertheless, getting work is a major aspect of the job and one you cannot afford to neglect; you have to spend part of your time worrying about the next job; marketing yourself is not just an extra it is an essential.
If you have contacts so much the better and the more and varied contacts the better; a lot of work will come from contacts.
Currently employed within a decent company and well rewarded. I have got itchy feet and want a new challenge and have a couple of opportunities with other large businesses in a similar field but not sure that's what I want to do.
Investments have worked well for us but I don't know what to expect with what we would spend in full time retirement so looking at various options and understand before I do anything I would regret. Certainly financially doable to a level and certainly if we sold the house in the UK but wouldn't take an unacceptable risk either.
I don't want to get to 67 when we can't do anything due to health etc and wish we had done something else. Recently for the first time ever I have been thinking that i don't want to go to work on a Monday, maybe that we have had a few holidays this year and a long break at Christmas isn't helping.
Also not sure I can see myself sitting on my backside doing nothing so asking for practical real life advice looks like a no brainer.
At 55 if you have a choice and want to retire in the next ten years I would think very carefully about this; it sounds great and for a minority it is but for many it isn't great at all and you need to be aware of this before you make any irrevocable decisions.
I'm asking these questions basically to find out what you have to do; not what you'd like to do.
I'm an accountant and did "consultancy" for many years - from choice in my case - and it may not be the easy option you think. Now I don't have exceptional abilities or experience but, nevertheless, getting work is a major aspect of the job and one you cannot afford to neglect; you have to spend part of your time worrying about the next job; marketing yourself is not just an extra it is an essential.
If you have contacts so much the better and the more and varied contacts the better; a lot of work will come from contacts.
Currently employed within a decent company and well rewarded. I have got itchy feet and want a new challenge and have a couple of opportunities with other large businesses in a similar field but not sure that's what I want to do.
Investments have worked well for us but I don't know what to expect with what we would spend in full time retirement so looking at various options and understand before I do anything I would regret. Certainly financially doable to a level and certainly if we sold the house in the UK but wouldn't take an unacceptable risk either.
I don't want to get to 67 when we can't do anything due to health etc and wish we had done something else. Recently for the first time ever I have been thinking that i don't want to go to work on a Monday, maybe that we have had a few holidays this year and a long break at Christmas isn't helping.
Also not sure I can see myself sitting on my backside doing nothing so asking for practical real life advice looks like a no brainer.
At 55 if you have a choice and want to retire in the next ten years I would think very carefully about this; it sounds great and for a minority it is but for many it isn't great at all and you need to be aware of this before you make any irrevocable decisions.
GT03ROB said:
Sogra said:
GT03ROB said:
First thought would be whats your track record?
If you can advise me how to do it show me where you have done it & made a profit as a dealer.
Without being too modest I would describe it as spectacular. I will be more than able to demonstrate exceptional results and turnarounds. If you can advise me how to do it show me where you have done it & made a profit as a dealer.
If your network isn’t that wide you may wish to consider working for free initially?
[quote=GT03ROB]
The answer though, is surely, what did you do that had such a great result.
[/quote
I am sure you will understand I don't want to get in to detail online about the how's and when's etc but I just don't know anything about being a "consultant" and wanted a start point but I can see from a couple of the replies and having looked at the book suggested ( I have ordered but read the blurb) that there is, as with many things the good, bad and ugly of consultants and I need to have a clear understanding of the value of what I can offer before making (as some one has suggested) any irrevocable decisions.
The answer though, is surely, what did you do that had such a great result.
[/quote
I am sure you will understand I don't want to get in to detail online about the how's and when's etc but I just don't know anything about being a "consultant" and wanted a start point but I can see from a couple of the replies and having looked at the book suggested ( I have ordered but read the blurb) that there is, as with many things the good, bad and ugly of consultants and I need to have a clear understanding of the value of what I can offer before making (as some one has suggested) any irrevocable decisions.
Countdown said:
What he said ^^^^. I would suggest letting the people who know you and the quality of your work know that you are now a Consultant and also let them know the type of work that you’re looking to do. The Consultants I tend to use are people I’ve worked with previously, so I know what they’re capable of.
If your network isn’t that wide you may wish to consider working for free initially?
Makes sense. I think you need to hear stuff, good and bad to get clarity. I think if you are so close you can get tunnel vision. If your network isn’t that wide you may wish to consider working for free initially?
Decent network and the industry does tend towards being a little gossipy so word would spread of any work I did , both good and bad so a double edged sword!
Thanks for the help
“Consultancy” is just a badge/title...here’s the kind of thing that an Accountant might provide as Consultancy
Setting up a Finance department from scratch
Implementing a Finance system such as Oracle or SAP
Implementing FRS102
carrying out a re-financing exercise.
It’s basically discrete pieces of work that the Employer doesn’t have the skills and/or resources to do. You need to define (a) what projects you can do and (b) who needs somebody external to come in and do them.
Setting up a Finance department from scratch
Implementing a Finance system such as Oracle or SAP
Implementing FRS102
carrying out a re-financing exercise.
It’s basically discrete pieces of work that the Employer doesn’t have the skills and/or resources to do. You need to define (a) what projects you can do and (b) who needs somebody external to come in and do them.
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