You can consult as an individual or you can build a team. Teams can take many forms, ranging from fully employed team members to a loose network of contractors you retain to work on your projects. Team structure determines the compensation model you use, and forces you to look at issues like utilization for an employed workforce. Team structure also impacts the way you manage projects and develop your staff.
- You can consult as an individual or you can build a team.…Teams can take many forms ranging from…fully employed team members…to a loose network of contractors…you retain to work on your projects.…Team structure will determine the compensation model…you use and force you to look at issues…like utilization for an employed work force.…Compensation can be salary, project-based,…hourly rate or unit-based.…You can combine various compensation models too.…
You can pay people for different behaviors,…like selling activities and service delivery.…If you're salary-based, utilization matters.…Utilization looks at the time your people are on projects…versus the total time that you're paying them for.…If they're employed, that has upsides and downsides too.…The upside is, an employed workforce is more stable…and they're more dedicated.…The downside is you carry a large fixed cost.…
You have to deal with employment issues…and you have to pay taxes and benefits.…A contractor model has upside…because you're not paying taxes on them…
Author
Mike Figliuolo
Released
1/24/2018LinkedIn Learning (Lynda.com) is a PMI Registered Education Provider. This course qualifies for professional development units (PDUs). To view the activity and PDU details for this course, click here.
The PMI Registered Education Provider logo is a registered mark of the Project Management Institute, Inc.
- Identify types of consulting business models.
- Describe revenue models.
- Explain how to estimate and manage costs.
- Price services using pricing strategies.
- Explain how to negotiate deals with clients.
- List effects of responding to RFPs.
- Identify the phases of constructing a consulting engagement.
- Present findings and implement recommendations.
- Describe different ways to manage legal issues.
Skill Level Beginner
Duration
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Welcome1m 11s
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Using this course1m 18s
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1. Define Your Consulting Business
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Determine the work you do3m 37s
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Manage your cost structure2m 39s
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Build your organization2m 18s
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2. Marketing and Selling
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Market your services2m 30s
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Manage marketing platforms2m 35s
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Sell your services2m 17s
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Expand client relationships2m 45s
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3. Contract and Protect Yourself
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Price your services5m 24s
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Using pricing strategies4m 14s
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Negotiate the deal4m 30s
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Respond to RFPs2m 59s
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4. Run the Consulting Engagement
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Form the team2m 17s
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Manage clients1m 50s
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Present the findings2m 53s
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Implement recommendations2m 16s
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5. Handle Administration
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Manage team legal issues2m 17s
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Conduct financial activities2m 47s
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Manage taxes2m 35s
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Manage employee issues2m 16s
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Insure your business2m 26s
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Get licensed and certified2m 15s
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Get support2m 20s
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Conclusion
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Avoid pitfalls2m 59s
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Next steps1m 18s
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Video: Build your organization