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Business Development

Thanks to Consultant for Breakfast

Editor's note: consultants love to sit around and talk about what they're going to do to help each other. And nothing ever comes of it. There's this feeling that if I SAY I'm going to help someone else, they will ACTUALLY help me by making referrals. From my experience, it seldom works that way. So I severely limit my meetings with other consultants to those that could be strategic. And no matter what a consultant tells me about how much they will help me, the proof is in the pudding. I always wait to see if they actually refer anyone to me.

I make heavy referrals to some consultants and never receive any leads from them. That's OK with me. I like to make the appropriate referral even if there's nothing in it for me. But that's different that sitting in Starbucks doodling referral revenues on the backs of napkins.

After a meeting that truly holds promise, I write a letter like this:

February 16, 20-

John C. Elliott, President
Elliott Consulting Group, Inc.
1829 Logan, Suite 1991
Denver, Colorado 80203

Dear John,

Thanks for breakfast. You know as well as I do that a consultant never gets a free meal, so this was extraordinary. Good food, good company—what could be better?

I enjoyed learning about your business, especially the part about your sons joining you in the firm. I'm optimistic that the legacy you've created will continue to grow and prosper. I think you'd enjoy learning about the Family Firm Institute—maybe not for now, but perhaps for later. Here is the contact information:

Judy B. Markhan, Ph.D.
Executive Director
The Family Firm Institute, Inc.
221 North Beacon Street
Boston, MA 02135-1943 USA
O: 617-789-4200
F: 617-789-4220
info@ffi.com
www.ffi.org

Thanks for offering to introduce me to Kim Wroble. I'm looking forward to meeting her, and when I visit San Francisco, I'll stop by your office to pick up your brochure.

I'm looking forward to getting to know you better.

With best wishes, always,

William S. Frank
wsfrank@careerlab.com

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25 Reasons I love consulting.
by William S. Frank

Brand. You are your own brand, and you can define it any way you want. For many years, I provided outplacement to the ex-employees of Schlumberger, the world's largest oilfield service corporation. When departing employees left the company, they didn't request outplacement in their severance package. They said, "I want Bill Frank."
Demand. The world will always be full of terrible problems that need solving.
White Hat. I can be a helper and get paid for it.
Pay. I can be paid to do things I'd gladly do for nothing.
Variety. Every day is different.
Happiness. At this stage of my career, I only work for people I respect and care about. If a client micromanages me or is otherwise no fun, I complete the assignment and replace them.
Talent. I'm using 110% of my talents and stretching myself to the max.
Change. I can change my focus any day I want. If you're a McDonald's franchisee, you don't say, "Hey, I've got this great idea for a meatball sandwich—let's try it out today." In consulting you can adjust your focus hour-by-hour, as long as your clients still understand and appreciate what you do.
Income. No one else would pay me as much as I pay myself.
FUN. I can't think of anything I'd rather be doing.
Retirement. I can write and consult as long as I am physically and mentally capable. Peter Drucker worked into his 90s, and when asked which book was his best, he said: "My next one."
Job Security. Although clients come and go, no one can come into my office and say, "Pack up your stuff . . . You don't work here anymore." In 29 years, I've only had one employer: ME.
Travel. I don't have to travel unless I decide to. I travel if it's both FUN and profitable—or at least FUN.
Commute. I live five minutes from my office, a corner office in an upscale six-story tower. In winter, I leave a heated garage at home and drive to an underground heated garage at work. There's seldom time to hear even one song on the radio.
Vacation. Consulting is more fun than vacation (except on Wailea Beach in Maui).
Friends. I have developed hundreds of close acquaintances and several lifetime friends.
Time. I can work as much or as little as I like: four-hour days or 18-hour days. (Of course, my income will reflect that.)
Employees. I can work with employees, subcontractors, partners, or alone—I've done it all.
Passive Income. I've developed several products that provide "mailbox money." I earn while I'm sleeping.
Ethics. I've never had to violate my values or personal code of ethics. I've never had to lie, purposely deceive or harm others, or promise things I can't deliver. I go to bed with a clear conscience. That doesn't mean there's never any conflict. But the conflict is conducted according to generally accepted business practices.
Virtual. My career is fairly portable. With the Internet, e-mail, cell phone, and FedEx, I can work nationally, even internationally from my office—or anywhere in the world.
Purpose. I make a difference in peoples' lives every day. I see it in their faces, hear it in their voices, and read it in their thank-yous.
Experience. Every painful or joyful life experience makes me a better consultant. So does every person I meet or book I read. Grey hair can be good in consulting.
Structure. I have to work very hard, and the clients expect superb results—but I get to structure my days, weeks, months, and years.
Boss. Most of the time, I love my boss.

As I was posting these letters online, I realized I want to communicate my love for consulting. It's just a great business. The single letters, taken together, may create a picture of enjoyment, but in a burst of creativity I listed some of the reasons consulting is such a good fit for me—and perhaps for you, too. They are not prioritized; this is just how they came out.