Odyssey --The Business of Consulting: How to Build, Grow, and Transform Your Consulting Business, 1st Edition (Hardback) book cover

Odyssey --The Business of Consulting

How to Build, Grow, and Transform Your Consulting Business, 1st Edition

By Imelda K. Butler, Shayne Tracy

Productivity Press

221 pages | 30 B/W Illus.

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pub: 2015-05-14
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Description

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.

Reviews

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

Table of Contents

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

About the Authors

Imelda Butler is the founder and chairperson for Odyssey Transformation Strategies andOdyssey 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.

Subject Categories

BISAC Subject Codes/Headings:
BUS042000
BUSINESS & ECONOMICS / Management Science
BUS058000
BUSINESS & ECONOMICS / Sales & Selling
MED000000
MEDICAL / General
MED002000
MEDICAL / Administration