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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) g.l.blank@ieee.orgg.l.blank@ieee.org - 847-464-4007 - http://drblank.com/co.htmhttp://drblank.com/co.htm Sunday, September 2, 2007 IEEE-USA Annual Meeting 2007
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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
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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
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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
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INDUSTRY AS AN EMPLOYEE Ingersoll Milling Machine Co. Chicago Aerial Industries (Recon Optical) Honeywell (Florida) Litton Guidance & Control Burroughs Corp.
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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.
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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
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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.
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CONSULTING CLIMATE Downsizing Layoffs Re-Engineering Early Retirements Creates: - Openings Consultants Networks Come Into Existence History
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MYTHS ABOUT CONSULTING ENGINEERS l E-Mail 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
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REASONS TO BECOME A CONSULTING ENGINEER l Challenge l Satisfaction l Variety l Independence l Income l Provide Income While Changing Areas Of Interest
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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 E-Mail l Website l Incorporate
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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
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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
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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
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???????????? $$$ HOW MUCH TO CHARGE? WHAT FACTORS DO YOU TAKE INTO CONSIDERATION?
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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.
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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
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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
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ON THE JOB l Good Oral Skills l Good Written Skills l Invisible l Outstanding Listening Skills
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WINNING THE CONTRACT l Contact l Proposal l Interview l Purchase Order
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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.
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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.
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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
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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
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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
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CONCLUSION How To Start and Expand A Successful Consulting Practice (contact speaker) How To Start A Local Consultants Network (contact speaker) http://www.ieeeusa.org/business/startnetworkguide.asp How To Form An Affinity Group (contact speaker) http://www.ieee.org/organizations/rab/scs/forms_petitions/affinity_pet.html QUESTIONS AND ANSWERS
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