1st Edition

Odyssey --The Business of Consulting How to Build, Grow, and Transform Your Consulting Business

By Imelda K. Butler, Shayne Tracy Copyright 2015
    221 Pages 30 B/W Illustrations
    by Productivity Press

    This book provides consultants with a career framework to build, grow, and transform their consulting businesses by becoming brilliant at the basics. The Odyssey process challenges current thinking and offers a methodology to help readers rise to the top of the profession by applying leading-edge techniques and methodologies.

    An ideal companion to the Odyssey Consulting Institute’s suite of learning materials, this book details a proven system designed for consultants who want to work at the highest levels and achieve greater rewards.

    The consultant’s growth path outlined in the book demonstrates how a successful consultant builds a sustainable career by working through the Odyssey process.

    Explaining what consultants must do to join the top 10 percent of the profession and be rewarded accordingly, this book delivers both the tools and the confidence to develop powerful relationships with the right people and drive greater value-based revenue.

    The Consultant’s Growth Path
    Four Levels of Consulting
         The Good Soldier
         The Competent Warrior
         The Trusted Advisor
         The Master Practitioner
    The Learning Continuum
         The Learning Lenses
         The Business Lenses
         Communication and Team/Organization Dynamics
    The Consulting Levels in Detail
         Life as a Good Soldier
         Kicking It Up a Level
         Thinking Like Business People
         Leaving a Legacy
    Odyssey in Action I
    WHIT MITCHELL, WORKING IN SYNC, HANOVER, NH
         The Trusted Advisor Breakthrough
    Odyssey in Action II
    DR SHAYNE TRACY, ODYSSEY TRANSFORMATIONAL STRATEGIES, ONTARIO, CANADA
         The Veterinarian That Never Was
    Chapter Summary
    Calls to Action
    Appendix I
    Bibliography

    The Odyssey Arrow Value Engagement Process: Bringing Clarity to Client Needs
    Extrinsic and Intrinsic Factors
    The Arrow Legend Explained
         The Value Engagement Practices
         The Value Integration Practices
    The Ideal Client Profile: Who, What, When, Where, Why, How
         Who Is My Ideal Client Number 1 Category (IC1)?
         What Is My Ideal Client Looking for?
         When Is My Ideal Client in the Market?
         Where Do My Ideal Clients Find Me?
         Why Will My Ideal Clients Engage Me?
         How Will We Work Together?
    Executive Briefing
         Our Story
    Meeting One
         The M1 Questions—Step 1: Situation Analysis—Past, Present, Future
         The M1 Questions—Step 2: Clarifying Assignment Objectives
         The M1 Questions—Step 3: Establishing the Measures (Metrics) of Success and Value
              Add Questions Appropriately to Dig Deeper
         The Discovery Audit
              Diagnostic Methods
              The Problems Associated with Discovery
              The Benefits of Good Discovery
    Meeting One Response Letter
         Sample M1r Letter
    Meeting Two
    Business Management Review
         Sample BMR Setup E-mail
         The BMR in Action
         Our Story
         ACP Engineering—BMR Report
    Odyssey in Action I
    SERGIO MOTLES, SUMMIT CONSULTING, SANTIAGO, CHILE
         The Power of the BMR
    Odyssey in Action II
    DAN GROBARCHIK, EXSELL INC., GREEN BAY, WI
         It Starts with Finding Ideal Clients
    A Note on Technology Support
    Chapter Summary
    Calls to Action
    Bibliography

    The Odyssey Arrow Integration Phases: Delivering Strategic Imperatives
    Recommendation
         Laying the Groundwork for REC
         The Century Management Case Study
              Macro Objectives
              Micro Objectives
         The Recommendation
              Phase 1: APC Competency—Communications and Teambuilding
              Phase 2: APC Business—The Business of the Professional Practice
              Phase 3: APC Strategy—Strategic Thinking and Planning
              Phase 4: APC Integration—Follow Up and Follow Through
    Organizational Development Intervention
    Summary Evaluation Report
    Odyssey in Action I
    RON PRICE, PRICE ASSOCIATES, BOISE ID
         It’s Not a Product, It’s a Partnership
    Odyssey in Action II
    TIM MALONEY, NEWPORT GROUP, ONTARIO, CANADA
         The Smartest Person in the Room
    Odyssey in Action III
    PADRAIG BERRY, STRATEGIC FOCUS, DUBLIN, IRELAND
         Slowing Down to Speed Up
    Chapter Summary
    Calls to Action
    Bibliography

    Applying a Client-Centered Value Strategy
    Thoughts on Selling
    Consultative Selling
    Traditional Consulting Model versus Value Creation Model
    Our Story
    Eight Ways to Increase Your Consulting Revenues
         Expand Your Client Base and Attract New Clients
         Develop Longer-Term Retainer-Type Contracts
         Capitalize on Your Original Cost of Acquisition by Creating Passive or Parallel Product Income Streams
         Broaden Your Strategic Positioning: Sell Larger Assignments
         Justify Higher Fees by Creating Higher Perceived Value
         Improve Assignment Profit Margins: Focus on Ideal Clients and Solutions
         Reduce the Cost of Client Acquisition
         Develop Strategic Partnering Relationships
    The Professional Service Firm
         Distinctiveness of Professional Service Firms
    The Life and Times of 400 Consultants
    Six Consulting Perspectives
         Perspective 1: The Generalist and the Specialist
         Perspective 2: Business or Profession?
         Perspective 3: The Nature of Consulting
         Perspective 4: Consulting Is Always Temporary
         Perspective 5: The Purpose of Consulting
         Perspective 6: How Do Consultants Intervene?
    Odyssey in Action I
    MEL NELSON, PRESIDENT & CEO, EXECUTIVE
    MANAGEMENT SYSTEMS, FARGO, ND
         Letting the Client Lead the Way
    Odyssey in Action II
    JEAN ANN LARSON, MANAGING PARTNER, JEAN ANN LARSON & ASSOCIATES, DALLAS, TX
         Building a New Consulting Business
    Chapter Summary
    Calls to Action
    Bibliography

    The Business Behind Consulting
    Financial Intelligence
    The Odyssey Profit Drivers
         Staff Profitability
         A Consultant Danger Zone
    Personal Profitability
         Value Basics
    Client Profitability
    Sales and Marketing Profitability
    Portfolio of Solutions Profitability
    Niche Market Profitability
    Setting Client Fees and Value Billing
    Four Basic Categories of Fee Setting
         Time
         Fixed Fee
         Retainer
         Contingency Fees
    Results-Based Consulting
         The Economic Buyer
         The Consultative Relationship
         The Value/Fees Proposition
    Making Your Talent Work for You
    Making the Client a Hero
    Opportunities Abound
    The Art and Science of Setting Fees in a Consulting Practice
    The Client/Consultant Value Match
    Presence Creates Value
    The Consultant as an Investor
    The Value of the Generalist and the Specialist
         Specialize
         Be Clear about Your Difference
         Define Your Ideal Clients
         Focus, Focus, Focus
    Odyssey in Action I
    MARK DEBINSKI, BLUEWATER ADVISORY & BLUEWATER SEARCH, SYKESVILLE, MD
         Before You Do the Business, You’ve Got to Find It
    Odyssey in Action II
    VICKI LAUTER, MANAGING PARTNER, STRATEGIC
    HUMAN INSIGHTS, ATLANTA, GA
         The Test Comes When You Quote Your Price
    Chapter Summary
    Calls to Action
    Bibliography

    The Mind-Set Factor
    Beyond the Mental Game of Consulting
    Converting Your Talents into Strategic Competencies
         The Odyssey Trusted Advisor Competency Model
    Defining Success as a Professional Advisor
         Six Dimensions of Success
         Measuring Your Success
    The Triple Mind: From Brain Power to Mind Power
         The Four Dimensions of the Competent Consultant
    Trustworthiness Defined
         Ten Ways to Create Entrusting Relationships with Your Client
         Ten Ways to Create Distrusting Relationships with Your Client
    Positive Psychology—Managing Your Potential and Possibilities
         Your Self-Concept and How It Affects Your Consulting Practice
              Your Self-Ideal
              Your Self-Image
              Your Self-Esteem
    Writing Your Personal Strategy
    A Word on Responsibility—A Consultant Obligation
         Invest in Yourself
         Two Reasons People Do Not Take Full Responsibility
              Fear
              Absence of Courage
         Eight Courage-Creating Principles
    Consulting and Corporate Responsibility
    Timeless Life and Consulting Principles
         The Timeless Principle of Cause and Effect
              A Practical Example
         The Timeless Principle of Belief
         The Timeless Principle of Expectation
         The Timeless Principle of Attraction
    Great Consulting Mind-Sets
    Odyssey in Action I
    KATHLEEN CALDWELL, CALDWELL CONSULTING GROUP, WOODSTOCK, IL
         Making Change Stick
    Odyssey in Action II
    JOHN OAKES, CEO, SBL CONSULTING GROUP, REDDING, CA
         Every Client Experience Is a Growth Opportunity
    Chapter Summary
    Calls to Action
    Bibliography

    Odyssey Reflections
    John Butler and Getting Out of Your Own Way
    DR SHAYNE TRACY, CEO, EXECUTIVE STRONG, ONTARIO, CANADA
    Nothing Happens until Somebody Does Something
    ART BOULAY, CEO, STRATEGIC TALENT MANAGEMENT, BRUNSWICK, ME
    Odyssey, the Rubicon, and Beyond
    CAROL RENAUD GAFFNEY, PhD, BEHAVIORAL
    INTELLIGENCE CONSULTANT® INTEGRATED BEHAVIORAL
    INTELLIGENCE SOLUTIONS LLC, BARRINGTON, RI
    Changing Direction with Odyssey
    MARCEL VAN DER WAL, HERMOSILLO, MEXICO
    Odyssey Helped Me to See Myself through the Fog
    ANDREW YOSHIOKA, SANBONKI INC., ONTARIO, CANADA
    In Conclusion

    About Odyssey Consulting Institute

    Index
    Index

    Biography

    Imelda Butler is the founder and chairperson for Odyssey Transformation Strategies and Odyssey Consulting Institute. She is the co-creator of the Odyssey concepts and methodologies which works with consultants worldwide in helping them master the business of consulting.

    Dr. Shayne Tracy is currently director of Odyssey Consulting Institute and is a Master Practitioner and Certified Master Coach with more than 25 years of experience in adding value to organizations through strategic organization development in performance, talent assessment, and management business restructuring.

    What business leaders and leading-edge consultants have to say about Odyssey – The Business of Consulting: How to Build, Grow, and Transform Your Consulting Business:

    Odyssey is a proven pathway to assisting professional consultants to make a greater impact with their clients. It's all about a mindset that applies proven solutions to organizational problems.
    —Bill J. Bonnstetter, Chairman, Target Training International, Ltd.

    Odyssey is undoubtedly the best journey one can take to achieve personal and consulting success, and truly supports building a premier consulting business. Simply put, the Odyssey process works.
    —Dave Bonnstetter, CEO, TTI Success Insights International

    Odyssey is a value-based system that goes beyond transactional business dealings. The Odyssey Arrow helped me design and connect my consulting business to who I am, while helping me master the fundamentals of entrepreneurship. I am delighted to see that the Odyssey teachings are now in a book so that others can learn from this approach and apply it in building their businesses. Whether you are just starting out or if you’re ready to take your business to the next level, this book is for you.
    —Dr. Jean Ann Larson, Founder and Managing Partner of Jean Ann Larson & Associates

    I travelled to Dublin, Ireland in 2006 to learn about the business of consulting from two of the best: John and Imelda Butler. What I learned has made all the difference in how I serve our clients and am rewarded. Now Imelda has captured this material in a book. It is a gold mine of wisdom, direction and inspiration. Every member of our team will have this on their desk and we will return to it over and over again.
    —Ron Price, Price Associates & TTI Success Insights China.

    This book is more than a "how-to" guide. It masterfully and deliberately describes, in exacting detail, the four levels of consulting and the continuum of growth necessary to transform your consulting mindset and deliver insightful knowledge that your clients expect from you…Odyssey is a must-read for anyone who desires the foundation of insight necessary to build a sustainable consulting practice now and into the future.
    —Brent Patmos CPHDA, Founder and President, Perpetual Development Inc.

    ... a must-read for any consultant. Odyssey is the roadmap to consulting success that embodies integrity and a disciplined approach to creating trustworthy, value-based client relationships.
    —Dr. Donald Carmont HRXL Associates