How To Be Your Own Consultant

By: Dan Kennedy on: March 29th, 2010 9 Comments

Now that we have completed the discussion of management of sales people, I’m sure many of you are anxious to move onto a much more pleasant topic.

This gives me the opportunity to talk about one of my favorite money-making subjects which might be called, “How To Be Your Own Consultant.”

Many times when I consult with a company my recommendations are painfully obvious, after the fact but were somehow invisible before my intervention. It’s very tough to be objective and analytical about your own business, very easy to be that way with someone else’s and that’s the basis of consulting.

However, there are certain suggestions I can make that may enable you to spot some great opportunities in your own business without the aid and expense of an outside independent consultant.

Virtually every business has unexploited, growth opportunities and unreasonable burdens. Most consultants who get involved with troubled companies find that each company has a product, a division, a type of customer or a marketing method that is actually costing more than it’s worth and should be cut.

I find this to be true in most cases.

You’ll want to carefully analyze your own business and the costs associated with each different aspect of the business very carefully.

Often you can apply the 80/20 idea to your business mix. You may discover that 80% of your profits come from 20% of your business and that 80% of your problems come from 20% of the business. Again as long it’s not the same 20% in both cases you’re in good shape.

The result of this type of analysis is often a comprehensive redesign of the business. It’s difficult but advisable to be open minded enough to do this.

Another lesson learned from the turnarounds of troubled companies is that the opportunity for either a product breakthrough or a marketing method breakthrough exists in most businesses.

I’ll be covering this important subject in my next post in just a couple of days.

Be Sociable, Share!
    ABOUT THE AUTHOR:

    Dan Kennedy is internationally recognized as the 'Millionaire Maker,' helping people in just about every category of business turn their ideas into fortunes. Dan's "No B.S." approach is refreshing amidst a world of small business marketing hype and enriches those who act on his advice. For more money-making marketing tips, tactics and strategies, go to www.GKIC.com

    9 Responses

    1. Charles Ra says:

      the opportunity for either a product breakthrough or a marketing method breakthrough exists in most businesses
      each company has a product, a division, a type of customer or a marketing method that is actually costing more than it’s worth and should be cut.
      being my own consultant, what a clever advice for my stumbling biz.
      thank you Dan.

    2. Walt Goshert says:

      Very true…

      The answer is there within your business… yet, most businesses are too close to their businesses to see and leverage the opportunities within.

    3. Scott says:

      I feel a huge product breakthrough coming on

    4. Scott Martin says:

      Like so many, I’m going through the total reinvention of everything and so the self-consult advice is salient. Many thanks for the blog post.

    5. Charles Ra says:

      Scott, total reinvention sounds interesting
      have a strong week,

    6. I’ve found that having a trusted ally serve as a sounding board as you talk through the ideas mentioned above helps to facilitate the self-consultant process. I put it to practice by picking up the phone for a 10 minute call based on one item listed above as soon as I finished reading this post. Implementation will begin as soon as I hit [Submit].

    7. Thanks for the reminder, Dan. I need to constantly readjust my focus and plans to pay more attention to the 80/20 rule.

    8. Distancing yourself from looking at the company as yours and seeing it through the eyes of a non-affiliated consultant will help you see the things that are usually too close to your eyes for you to see.

      find a business similar to your own, and then tinker with THAT business. then, once you have dissected and analyzed and found new profit opportunities, take the new insights and bring them back to your own business.

      Roundabout? yes. but it works!

    9. Rob Anspach says:

      … Every time I interview someone foru “Passions to Profits” audio interview series I take away ideas I and my listeners can implement right away…so the product I designed to help others also helps me. A win/win!

    Leave a Comment