Presentation on theme: "Stepping Out On Your Own by Dr. Gary L. Blank The Consultants Consultant Electrical/Electronic Engineering Consultant Director, Engineering Update Institute."— Presentation transcript:
Stepping Out On Your Own by Dr. Gary L. Blank The Consultants Consultant Electrical/Electronic Engineering Consultant Director, Engineering Update Institute Home-Study Review Courses for preparation for the FE and PE Exams Past Vice President, Member Activities, IEEE-USA Past Chair, AICN (Alliance of IEEE Consultants Networks) Sunday, September 2, 2007 IEEE-USA Annual Meeting 2007
Outline Introduction/Background Stepping Out Seminar 1. Session 1 – How to Get Started 2. Session 2 – How to Set Your Fees 3. Session 3 – How to Win the Contract 4. Session 4 – How to Find Clients Conclusion
INTRODUCTION/BACKGROUND Academic and Industry Consulting-Electronics, Controls, Power Engineering Update Institute –Home- Study Video Courses for FE/PE Exams Seminars on Consulting (Consultants Consultant) Start-Up Networks
EDUCATIONAL BACKGROUND l All degrees in Electrical Engineering l Minors in Mathematics l B.S. Illinois Institute of Technology l M.S. University of Idaho l Ph.D. University of Wisconsin
INDUSTRY AS AN EMPLOYEE Ingersoll Milling Machine Co. Chicago Aerial Industries (Recon Optical) Honeywell (Florida) Litton Guidance & Control Burroughs Corp.
Industry Consulting (1) part L-3 Communications Oshkosh Truck Danfoss Drives Allied Healthcare Products, Inc. MPC Products Corp Andrew Corporation Recon Optical Inc Barber-Colman Co Rockwell-Collins Lucent Technologies Woodward Governor Co. Sundstrand Aerospace Ansco Photo Optical Data Specialties Inc.
Industry Consulting (part 2) l Honeywell l Northrop Electromechanical l TRE Electromask l System Technika l Pertec Corp l Micropolis Corp. l Xerox Corp. l EMM Sesco Terminal Data Corp. Hughes Aircraft Litton Guidance & Control Litton Data systems Unisys Corp. Teledyne Systems General Motors A.O. Smith Co
Definition of Consultant Classes of Consultants 6-hour Seminar Outline Session 1- How to Get started Without Leaving Your Present Job, Keeping Records, & TAXES 1. INTRODUCTION to modern consulting and the consulting marketplace. 2. MYTHS about consulting. Some are true, some are false. 3. REASONS to become a consultant. How do these reasons influence your success as a consultant? 4. Critical details and important concerns about GETTING STARTED. What are the steps? 5. The RECORD-KEEPING procedures used by many consultants FOR TAXES are simple.
CONSULTING CLIMATE Downsizing Layoffs Re-Engineering Early Retirements Creates: - Openings Consultants Networks Come Into Existence History
MYTHS ABOUT CONSULTING ENGINEERS l l Website l Telephone l Interesting Assignments l Challenging Assignments l $ A Lot l Few Hours l Politics/Management l Boss l Self-Employed l Tax Benefits l Work At Home
REASONS TO BECOME A CONSULTING ENGINEER l Challenge l Satisfaction l Variety l Independence l Income l Provide Income While Changing Areas Of Interest
DETAILS AND CONCERNS ABOUT GETTING STARTED l Office? Work Where? l Advertise l Security Clearance l Telephone/Answering Service l Fictitious Name l Taxes l Business Card l License l Registration l Liability Insurance l Stationery l Brochures/Resumes l Computer l l Website l Incorporate
TAX ADVANTAGES AND RECORD- KEEPING l Automobile l Business Income l Business Gifts l Business Meals and Entertainments l Demos, Samples, and Promotional Tools l Depreciation l Home Entertainment l Home Office l Inventory l Record-Keeping l Telephone l Travel
Session 2 HOW TO SET YOUR FEES... A FORMULA for fee- setting; Ethical Considerations; Experience Necessary l Ethical Considerations & Diversity Awareness. l Common Question: Do you have the EXPERIENCE to be a consultant? l How do you determine what the FEE is for an assignment? You will be shown a simple FORMULA for calculating the fee to charge a client
ETHICS OF CONSULTING l Simple - Use Common Sense l Confidentiality l Do Not Disclose l Avoid Conflicting Interests l Do Not Compromise l Avoid Politics l Go The Extra Mile
???????????? $$$ HOW MUCH TO CHARGE? WHAT FACTORS DO YOU TAKE INTO CONSIDERATION?
SESSION 3 HOW TO WIN THE CONTRACT l Step-By-Step l What To Say l What To Do Preparing for Success. Preparing Technically, Mentally, Physically. Giving yourself the Winning Edge. How do you WIN a contract? Follow the steps involved from the first contact, through the interview, the preparation of the proposal, and obtaining the purchase ord.
SELF-PREPARATION FOR SUCCESSFUL CONSULTING Prepare the Music (i) Physical Appearance Dress, Grooming, Professional, Exercise, Handshake & Smile (ii) Mental Attitude Towards Self Positive – Goals – Nos – Setbacks – Point of View Towards Others Tactful – Service – Do Not Complain – Do Not Criticize Watch the Mouth – Avoid Conflict
PREPARE TECHNICALLY 1. Why Would an Engineer Not Be Technically Ready? 2. The Degree Program 3. Job Pressure/Requirements 4. Theory VS Practice 5. Lose & Regain Edge 6. What Does a Client Expect
ON THE JOB l Good Oral Skills l Good Written Skills l Invisible l Outstanding Listening Skills
WINNING THE CONTRACT l Contact l Proposal l Interview l Purchase Order
HOW TO FIND CLIENTS How do you FIND CLIENTS? You will be shown OVER TWENTY UNIQUE AND PROVEN METHODS OF FINDING CLIENTS, without cold calling or mass mailing.
HOW TO FIND CLIENTS l Inefficient Marketplace l No Opportunity to Meet l Strangers in the Night l NO:Flyers, Business Cards, Mail Resumes, Ad in Paper, Ad in Magazine, Yellow Pages, Personnel Department.
HOW TO LIST l How to use want Ads l How to use Alumni Newsletters l How to use the FBO/CBD l How to use Local Business News l How to use Magazines and Journals l How to use Newspaper Articles l How to use & find the Manager l How to use Attorneys, Banks l How to use Meetings and Dinners l How to use Shows & Conferences l How to use Religious Affiliations l How to Use Community Activities
HOW TO LIST, continued l How to use University Faculty & Administrators l How to use Fraternities, Sororities, Social Clubs l How to use Former Employers l How to use Former Employee Associates l How to use teaching (Degree? Pay??) l How to use Speaking Engagements l How to use Society Membership l How to use Consultant Networks l How to use the Internet l Other Methods
6. WHAT IS AICN & WHAT DOES IT DO? Coordinates Activities 2 Workshops A Year Committee Meetings Website/Database Directory (Search) Newsletter Sample Consulting Agreement Business & Consulting Resources for Members Surveys Focal Point For All Networks Referrals Increases IEEE Membership Works With Staff Speakers and Advisors
CONCLUSION How To Start and Expand A Successful Consulting Practice (contact speaker) How To Start A Local Consultants Network (contact speaker) How To Form An Affinity Group (contact speaker) QUESTIONS AND ANSWERS