Be a Consultant | SellXL - Selling at the Executive Level

So You Think You Want to Become a Consultant...
Stephen J. Bistritz, Ed.D.
www.sellxl.com

After spending nearly 28 years with IBM and another eight years with a small sales training and consulting company, I decided to start my own sales training and consulting business in July, 2002. What follows is a list of activities that will assist you in getting started as a consultant in your own business.

1) Build a large network of people that know about you and your business. Work the network by trying to help those within your network with their products and services.

2) Constantly follow up with people in your network. I can't tell you how many times I will follow up with someone and find out that they are in the midst of a project (or just about to start a project) where they could use my help and my random phone call became very timely!

3) Keep in touch with people in your network via a newsletter that is distributed on a regular basis. Continuously expand your data base of people that receive your newsletter.

4) Try to delight every client and develop references who are willing to speak about you and vouch for the credibility, integrity, and quality of your work.

5) Make sure you develop a high-quality website that is easy to navigate. Although some people would say you don't need a Web site, I have found it invaluable as a source of credibility and information. Give something away that's free from your Web site (I have a number of articles that I've had published in a variety of journals); this gives people a reason to return to your site. In addition, the first thing many large companies will ask is: What is your Web site address?

6) Build high-quality products and services, using solution providers that have that type of development work as their core competency. For example, given my lack of expertise in PowerPoint, I work with someone who is proficient in both WORD and PowerPoint. I also used experts to develop my Web site - of course, you can always use a canned program - but why not get people who have that as their core competency to develop it for you? In the long run, it will cost you less, you'll get far better results, and it's also a business expense.

7) Continuously build your brand. Use your website to develop and expose your brand so that people recognize you and begin to identify to your brand.

8) Try to develop some type of intellectual property that can be used by multiple clients. I had that objective from the time I started my business. Again, make certain that the IP is of the highest quality, totally error-free, and produced by people who have an "eye for quality." You want your product to be seen it the best possible light; remember, you only have one chance to make a first good impression. If you develop your own intellectual property, you need to have specific copyright information ascribed to your company on every page, slide, and other piece of material - no exceptions!

9) Continuously "bounce" ideas off other people. Get reactions from people you trust and people you know have a good "eye" for things that will work well in the field. Don't always go to people who will give you the answer you like or who will tell you what they think you want to hear. Go to those who will give your ideas more scrutiny and who will do a more thorough job of vetting your work.

10) Be responsive to people - to a fault. I learned this in my job as the developer of content for a major brand of sales training offerings. The CEO of a very small sales training and consulting company taught me to always adhere to deadlines, to consistently delight every prospect and client, and to constantly strive to exceed each customer's expectations.

11) No matter how many times people say no - never stop selling. I had a prospect come my Exhibit Booth at a conference who began the conversation by saying she didn't think she could have me deliver any instructor-led training at her company because they were not willing to take salespeople out of the field for even a one-day workshop. After our 45-minute discussion, she asked me for a proposal to deliver my one-day SellXL workshop to 300 of her company's salespeople.

12) Never stop promoting yourself or your brand - in a positive and non-threatening way. Here's an example: Every year for the past four years I worked with one client and developed some aspect of their annual training event. During those four years I reminded the client of my workshop on selling to executives (SellXL) - even though it didn't look like there would be an opportunity to deliver the workshop in that company. The company was subsequently purchased and my client contact was able to assume a similar position in the new organization (planning their annual sales meeting). The new company was planning to conduct a large sales meeting and my friend was asked to coordinate the meeting. Three months later, after assuming that the meeting would consist of product training and a recognition event, my client contact was asked the following question by an executive in the new company: What type of sales training are you planning to conduct during that three-day meeting? In a panic he came to me, asking me if I could deliver my one-day SellXL workshop to 300 salespeople at their conference in Phoenix. In May, 2006, using four instructors over a two-day period, we were able to deliver the workshop to 300 salespeople!

13) Be totally organized in every aspect of your business. This is extremely important if you are the only person in your business (or even if you have a small staff). You have to create simple but viable systems. For example, you need a structured approach to all of your accounting and financial functions in order to minimize the time you spend on those activities. I have a very structured approach to accounting for business expenses and revenues as they are accrued throughout the year.

I also have an intellectual property attorney and a fantastic accountant (who happens to have the same type of corporation structure as me - an S-Corporation). Again, these are services worth paying for because they save you time and money in the long run. You also need to make certain you have all of the forms you need to run your business - Letters of Agreement, Distributor Contracts, Statements of Work, Invoice Formats and the like. Trying to create all of these each time from scratch is a huge time waster. Develop some templates as you first use them and keep them as simple and as comprehensive as possible.

You also need a structured approach to naming and storing computer files and documents. The CEO of that company I mentioned earlier would not read a document unless it contained a footer with a filename and storage location on the company computer system that could be accessed for updates. That was a huge lesson for me and since hearing of his philosophy, I have not created a document that doesn't have that type of retrieval capability.

Use whatever system works for you, but also make certain you have the right backup systems and procedures in place. I back up all of my computer files once a week, using a separate hard drive that creates a backup copy of all of my files - in fewer than 15 minutes! I also have an IT expert who I can call (mine is a retired IT executive who is currently an IT Director for a large private school in Atlanta).

14) Try to separate work from your other interests. My office is on the lower level of my house (one level below our main living level) and I only go to my office to work. While my office is close, it's also off-limits (and closed) most of the weekend. There are occasional exceptions to that rule; however, they don't represent the norm.

15) Always act with the highest level of integrity. I once had an IBM executive tell me that "Integrity can be defined as what you will ultimately do, even when no one is looking".

16) Make certain you don't compromise copyrighted information. Always give attribution to work created by other people, particularly if you adapt or extract an idea or concept from their work. Seek their permission to include the content in your work, always giving them attribution.

17) Vigorously protect your own copyrights. Make certain you know and understand the regulations surrounding copyrights and how to implement and protect them. A pocket guide entitled "The Pocket Idiot's Guide to Copyrights" contains some comprehensive and relevant information about copyrights in a condensed format.

18) Always be consistent and fair in the pricing of your products and services. There's not much more to say here; however, make certain you always deliver value that far exceeds your price - that way you'll always get return assignments.

19) Treat all people the way you want to be treated - and never burn any bridges. There have been many times when it would have been easy for me to have the last word in a situation; however, I can't tell you how many times I have decided to make a friend rather than create an enemy. Ultimately, that decision has often generated future business for me.

20) Be persistent, but always professional in follow up actions regarding your accounts receivable. This is, for me, the worst part of my job. However, there are ways to mitigate problems in this area. For example, whenever I get a new client assignment, I always ask my contact person the name of the person in their organization who will be responsible for paying my invoices. I contact that person far in advance to make certain I furnish them with the information they need to pay my invoices. Doing this on the front end often reduces the time it takes for the client to pay my invoices.

21) Make certain you incorporate your firm early in the process. This eliminates many problems, especially in dealing with large organizations. Many large companies will only do business with other corporations, rather than with individuals who are not incorporated. It's also better for you to be incorporated, from accounting, legal and professional perspectives.

22) Register trademarks for items that are specific to your business. If you develop a creative or distinct name for your product or service offerings, make certain that you trademark them to protect those assets. The trademark process can be perceived as intimidating and tedious; however, the outcome is extremely valuable and worth the effort. Again, the pocket guide entitled "The Pocket Idiot's Guide to Trademarks" contains some good information about the trademark process in a condensed format.

23) Develop standard engagement letters and other contractual documents that are simple and concise. Create these types of documents with the thought that they will become standard documents that can be re-used in other similar client engagements. Make them simple and easy to read and understand so that clients will accept them. Make certain that the terms and conditions are fair, but that they represent your position. Don't be afraid to include penalty clauses, if you are scheduling events that include other resources, such as additional independent contractors that you will have to engage with.

24) When initiating an engagement with a client, make certain you understand their accounts payable process. Before engagements begin is the time to ask your client contact to put you in touch with their Accounts Payable department. When you make contact, determine the documents they require to process your invoices. Their Accounts Payable department may require the completion of a W-9 form, submission of proof of incorporation and liability insurance and other forms. Completing this process far in advance of your invoice submission will reduce the time it takes to receive payment from the client.

I hope some of the above tips will help you as you begin your journey down the path of becoming a consultant. I can only tell you that, for me, the years in my own business have been the best business years of my life, and I say that from multiple perspectives. They have been extremely rewarding from a financial perspective, but more importantly, they have also been very rewarding from a personal perspective. I get to select the projects I want to work on, don't report or answer to anyone and don't have to go to meetings, unless I schedule them. For me, life as a consultant is simply great!

About the Author

Dr. Steve Bistritz brings nearly four decades of high-technology sales, sales management and training management experience in helping companies ranging from start-ups to established global leaders. He is a published author and lecturer in the field of sales, sales management and selling to senior executives.

Steve spent more than 27 years with IBM in a number of sales and training management positions. In 1994, he joined a sales training company, Target Marketing Systems, and developed sales training programs that were subsequently delivered to tens of thousands of professional salespeople around the world. He holds a doctorate in human resource development from Vanderbilt University, which he received in 1995.

Steve is currently President of his own sales training and consulting company, Learning Solutions International, located in Atlanta. He can be contacted through his website, www.sellxl.com