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Day-to-Day Operations

Terminate Lease

In the 1980s when the oilfield crashed, oil companies were laying off employees by the thousands. We opened a satellite office in Houston, and generated $500,000 in revenue the first year. When the oil industry rebounded, we closed the office, per this letter. We made a clean break by finding a neighbor to expand into our offices.

April 24, 20-

Mr. Basil Cottingsley
Director of Operations
Business Home Management and Leasing, Inc.
10577 Commercial Boulevard, STE 126
Stafford, TX 77477

Dear Mr. Cottinsley,

This is to confirm our telephone call yesterday afternoon, in which I told you we want to terminate our lease for Suite 160 in your building, effective immediately.

I also told you Mark MacDonald, President of MacDonald Management, Ltd., intends to take over the space. He will make arrangements with you directly. Mark told me he plans to extend his existing lease to June 20-, so that the leases of suites 138 and 160 will terminate together.

We will have our name removed from the lease, not sublease the space.

Sarah Spooner, our Senior Vice President will be involved in the negotiations with you and Mark. She is authorized to make decisions for CareerLab®.

Please give me a call if there's anything I can do to help in this transition.

Thank you,

William S. Frank
PRESIDENT
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.