Gail V. Barrington, PhD, CMC, CE Atlanta, GA June 5, 2012 Getting Started: Introduction to Evaluation Consulting AEA & CDC Summer Institute

Objectives Objectives Clarify personal characteristics & values Develop a business plan Set fees Track time Prepare proposals Market & find work

Your Experience Background discipline? Work experience? Reason for this workshop?

The Consulting Landscape Management consulting projected to be the fastest growing industry Employment will increase 83% Are you ready to ride this wave?

Our Consulting Niche We sell our knowledge, skills & expertise in applied research & evaluation We are entrepreneurs & small business executives Our niche is Sector #54, Professional, Scientific, and Technical Services, North American Industry Classification System (NAICS) It spans NAFTA (Canada, Mexico & the U.S.) We are often called management consultants

Do I Have What it Takes? Do I Have What it Takes?

Personal Characteristics 1.Intellectual Capacity 2.Self Confidence 3.Moxie 4.Adaptability 5.Endurance

Values 1.Ethics 2.Social Justice 3.Authenticity 4.Cultural Sensitivity 5.Collaboration 6.Lifelong Learning

A Game of Endurance  Complete Sections 1-5  Reflect  Discuss

Developing a Business Plan Developing a Business Plan

…Business Plan Reasons  Self-examination & personal development  Roadmap  Benchmarks & accountability framework  Financial plan  Marketing tool  Professional image  Your first project

...Business Plan Strategy  Have a personal retreat  Develop a mission statement  Identify key objectives  Create a template for my plan  Do more research to complete the template  Plan about 10 hrs/wk for 2 months  It’s my project!

Business Plan Template (1-5) 1.Title page, Table of Contents, & Executive Summary 2.Industry overview (research) 3.Your business services & prospective clients 4.Market analysis (information interviews) 5.Marketing plan (month, quarter & Year 1, thumbnail Years 2-3

Business Plan Template (6-10) 6.Management plan (business name, ownership structure, licenses) 7.Operating plan (location, staff) 8.Financial plan (start-up costs, balance sheet, income & expenses forecast, break- even analysis) 9.References & Advisors (bank manager, accountant, attorney, insurance broker) 10.Appendices (CV, photo, supporting documents)

…A Game of Endurance  Complete Section 8  Reflect  Discuss

Calculating Fees

…Calculating Fees  Billable time  Overhead  Salary  Profit  Your daily rate

Reflection  Biggest surprise?  Changes needed?  Discuss

Tracking Time

…Tracking Time  Day book or calendar for daily time tracking  Spreadsheet or time tracking software  Billable project timesheets  Non-billable timesheet  Semi-monthly summary timesheet

…Tracking Time Great accountability for clients No chance of double-billing Tax department happy Use for planning & proposals Track recovery rates Find efficiencies Foster your innovation

Writing Proposals

…Writing Proposals  Prepare the budget first  Use client requirements to organize your material  Respond to the policy question  Use a letter proposal for informal requests  Prepare formal RFPs as your track record grows

Marketing Secrets & Finding Work

…Marketing Secrets 1.Independent consultants get most of their work informally. 2. It’s a numbers game. What’s your success ratio?

…Your Competitive Edge Technical expertise Unique product Multidisciplinary approach Knowledge of a specific sector Speed & reliability Good reputation Excellent client relationships Other?

…A Game of Endurance  Complete Sections 6 & 7  Reflect  Discuss

4 Ways to Get Work: 1) Network 1.Key contact networks (e.g., Chamber of Commerce) 2.Professional networks (e.g., your discipline) 3.Mentoring networks (e.g., support groups) 4.Dynamic networks (e.g., attending this conference) 5.Partner networks (e.g., complementary services) 6.Resource networks (e.g., on RFP lists) 7.Client networks (e.g., your client’s world) 8.Social networks (e.g., Linked In, Facebook)

2) Get Referrals  Have a clear “elevator” message (<25 words)  Practice saying it  Practice asking for a referral  Decide who & when to ask  Then ask for it!

3. Build Strategic Alliances  Enhance competitiveness  Pursue larger projects  Decrease competition  Expand efficiency  Improve cost competitiveness  Enhance quality  Learn more

4. Foster Repeat Business  You know the context  You know the players  You can hit the ground running  Try spin-offs, additional phases, new work for same client  Do not build client dependence  Do not stay too long

Things to Do When I get home… Discussion Thank you!

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