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So You Want to Be a Consultant? Mike Bacon, CFRE Bacon Lee & Associates.

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Presentation on theme: "So You Want to Be a Consultant? Mike Bacon, CFRE Bacon Lee & Associates."— Presentation transcript:

1 So You Want to Be a Consultant? Mike Bacon, CFRE Bacon Lee & Associates

2 Why? Broad & Deep Experience In Fundraising Impact Beyond One Organization Flexibility In Your Life Transition Between Jobs Treat It Like A Business!

3 Good Traits For Consultants Outgoing, Organized Self-Starter Willing To Market Yourself Known In Your Community Ability To Listen Strong Writing Skills Public Speaking Prowess

4 How To Get Started Incorporate As A Small Business (dba) Partner with Someone Affiliate With An Established Company Subcontract Work To Others

5 The Basic Equipment Home Office Versus Professional Space Laptop Computer With Internet Access Phone Line (Land or Cell) Fax Line/Fax Machine

6 What Can You Offer? Grant Writing Annual Fund Capital Campaigns & Major Gifts Planned Giving Strategic Planning Board/Staff Training General Versus Specialization

7 A Philosophical Decision… Strategy Versus Implementation

8 Marketing Today Prevents Famine Tomorrow

9 Marketing Moves Join Professional Organizations Present At Conferences & Meetings Network Constantly Word of Mouth / References Establish Group of Advisors Social Media: Linked-In Web Site Serve On Boards (Watch for Conflict of Interest)

10 How Much Do You Charge? Reasonable Costs: Culmination of Years of Your Experience No Freebies…this is your job Organizations Rarely Value Free… Options For How To Charge Hourly Project Basis Retainer

11 Working Smarter Written Proposal Not Verbal Simple Contract Work Plan: Agreed Upon Expectations Tasks Timeline Your Role Clients Role

12 The Forgotten Client: You Quarterly Taxes Insurance – Liability Book Keeping- A Good Accountant Your Accounts Operating Savings Tax Account Self-Employment Pension Plan

13 If You Want to Get Paid… Signed Contracts Good Legal Advice Payments based upon milestones or timeframe Invoicing On A Monthly Basis Expect Slow Payments… You May Need To Chase

14 Never Forget Who Hired You Who Are You Accountable To? Executive Director? Board / Board Chair? Are You Willing To Change Your Advice To Protect Someone? What Do You Do If The Client Does Not Take Your Advice? What Do You Do if Client Uses Your Advice Falsely?

15 Juggling It All… All About The Pipeline Hustle, Hustle, Hustle Professional Development Still Matters Ethics Are Even More Important Now

16 Resources For You Association of Fundraising Professionals Association of Philanthropic Counsel Institute of Management Consultants for daily tips Million Dollar Consulting: The Professional's Guide to Growing a Practice by Alan Weiss (2002)

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