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…
- 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
1. Define Your Consulting Business
2. Marketing and Selling
3. Contract and Protect Yourself
4. Run the Consulting Engagement
5. Handle Administration
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