Unleashed - How to Thrive as an Independent Professional: Recent Episodes
Will Bachman
Sanjay Iyer, a consultant for 25 years, discusses the evolution of telecommunications companies, focusing on network, infrastructure, quality, and coverage analysis. He explains that coverage is the first aspect of a network, determining the reach and number of homes it can deliver service to. The structure of networks has evolved over the years, with different types of networks for broadband, such as fiber to the home, hybrid fiber coax, and fixed wireless axis.
Assessing the Infrastructure Quality
Sanjay explains the process of assessing the infrastructure quality of a telecommunications company, which involves evaluating speeds, latency, and other factors such as the density of homes in the neighborhood. Speeds are rated at megabits per second, but factors like the number of people using television, density of homes, and latency can affect the speed of upstream and downstream packets. Latency is another factor that covers systemic network design quality. Sanjay also mentions that there are temporary issues in a coax network, such as fluctuation noise and overhead versus underground cables. To understand the total quality of a network, it is essential to separate temporary issues from systemic problems. He suggests measuring the quality at a home level, rather than at the broad network level.
Network Assessment Factors
Sanjay explains the importance of assessing network outcomes such as latency and speed when buying a provider and explains why companies should focus on outcome metrics and infrastructure quality. He talks about the first and second metric, capital expenditure efficiency and network upgrades. Sanjya explains why getworks have been continuously groomed and expanded to deliver more bandwidth over the years, and understanding how they have done it historically and what it will take to achieve the gold standard of one gigabits per second downstream to every home is crucial and what it would cost.
Challenges Faced when Analyzing Networks
The conversation turns to the challenges companies face in analyzing their own networks, as there is no single source of truth for determining their network coverage. One challenge is the cost of bandwidth, which can be expensive and unpredictable. To get the bandwidth right, companies must calculate the capex efficiency model, which assumes an average number of households per node and exploits it to the entire country. This model is often incorrect, leading to unpredictable network costs. Another challenge is fiber optic and broadband penetration analysis. The Federal Communications Commission has created a national database that tracks every household's speed and coverage from service providers. This information is publicly available and can be used to analyze homes and serviceable locations. The FCC has also created a service coverage map at a national scale, which can be used to allocate government capital to underserved areas and subsidize network bills.
Analyzing Market Share
Sanjay discusses the process of analyzing market share in a given market. He uses the FCC database to measure network footprint, focusing on census block group levels to determine customer penetration. Machine learning is particularly interesting as it provides insights into customer profiles, economic or household level information, which can help predict underperformance, overperformance, and areas for improvement. Iyer is currently working on building tools to predict the ROI of broadband investments, analyzing existing footprints and adjacent locations, and predicting expansion paths. He is also involved in generative AI, which is popular but not widely adopted due to issues with LLM tech adoption. Iyer is developing a governance model that looks at all aspects of Gen AI, from use cases to production and costs, and is building products with an AI-first approach, using tools like chat and GPT to develop software products based on specific requirements.
Timestamps:
04:30: Assessing Infrastructure Quality and Network Economics
08:37: Capital Expenditure Efficiency and Network Upgrades
13:27: Challenges in Network Data Availability
17:52: Fiber Optic and Broadband Penetration Analysis
21:21: Customer Churn Rate and Retention Strategy
25:45: Subscriber-Based Growth and Market Share Analysis
27:32: Sanjay Iyer's Current Practice and AI Focus
Links:
LinkedIn: https://www.linkedin.com/in/sanjay-iyer/
Website: https://www.combinatree.com/
Resource: https://umbrex.com/resources/how-to-analyze-a-telecommunications-company/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Matt Sobieski discusses the process of helping a manufacturing plant improve its performance by understanding the problem statement and 47 different analyzes. He suggests talking to the plant manager or head of operations to understand the biggest challenges, cost buckets, operational constraints, and capacity constraints.
Diving into One of 47 Analyzes
Matt explains more about the 47 analyzes, one of which is the cost of goods sold, breakdown, and margin analysis, which helps in understanding the cost structure of the plant. This includes examining production, backlogs, inventory levels, and other factors. In the case of an agricultural manufacturing company during the pandemic, the focus was on streamlining their ordering process to increase productivity. Matt also discusses the importance of understanding the big cost buckets, such as labor, materials, waste, and inventory management. He shares a case where a client had issues with their cost per unit, where they could not get their arms around their cost per unit. The data provided by the client was not high-quality, and it was difficult to differentiate between different lines. Matt shares a few ways to address this issue.
Dealing with an Inflationary Environment
In the current inflationary environment in the US, costs have been increasing, particularly labor costs. Consultants can help plants by asking questions and providing a fresh perspective to understand why material costs and overtime costs are high. This can lead to better scheduling and equipment utilization, which can help reduce costs and improve productivity. One example of this is an agricultural manufacturing plant where the plant manager was unaware of the importance of morning production meetings. By asking open-ended questions and being curious about how things run, consultants can identify areas for improvement.
Overall Equipment Effectiveness
Operations professionals should always have a plan for the day and recover from deviations when necessary. Asking open-ended questions and understanding the fundamentals of operations can help identify areas for improvement. One analysis that consultants like to use is the overall equipment effectiveness (OEE), which is a measure of overall equipment effectiveness. OEE is calculated by comparing the performance of different pieces of equipment and identifying areas for improvement. Matt goes on to explain how the analysis of OEE is defined and quality calculated. He stresses that it is crucial to calculate the correct OEE and quality first time, as not all units are produced correctly. It is important to ensure that the correct approach is taken when analyzing OEE data.
Identifying Waste in Manufacturing Plants
Matt discusses the concept of identifying waste in manufacturing plants, including the classic seven or eight types of waste. They highlight the importance of removing waste to improve efficiency and productivity. One such type is intellect, which involves people using their brain power inefficiently. To identify waste, they suggest using GEMBA (Go where the work is happening) to observe people and their actions. One example is an automotive plant that had a production cell with two operators, causing a lot of motion. To address this, they moved parts from one end of the line to the middle, reorganizing the path for forklift drivers. This resulted in faster unloading times for parts coming in and out of the area. Matt emphasizes the impact of simple things like moving parts to central locations and reducing the time spent on unloading parts and shares an example that helped eliminate waste and improve efficiency and productivity.
The Importance of Fresh Perspectives when Addressing Issues in Supply Chains
Matt shares an example of a company that had to print labels for products and then wait for them to be printed. To address this, they developed a Kanban system where labels were printed ahead of time for all SKUs, eliminating the need for waiting for labels. This solution was cost-effective and efficient, as it saved labor costs. He also discusses the importance of managing risk in supply chains, particularly during the pandemic. He highlights the importance of understanding the risk associated with individual suppliers, which can help in making informed decisions about ordering buffer stock, onboarding another supplier, or building capability in-house. Matt explains the importance of eliminating single sources of failure in manufacturing. He cites examples of poor performing plants and underinvestment in automation and offers suggestions on factors that need to be analyzed and used to understand what drives failures.
Asset Management Analyzes
The discussion moves on to asset management analyzes, such as make versus buy, capex, effectiveness, equipment and technology, and life cycle management, which are crucial for businesses to understand their costs and make the right capital investments. Capex is important in determining the cost of repairing a machine versus replacing it, especially in a constrained environment like manufacturing. Assessment utilization is also important, as it helps businesses optimize their equipment usage and preventive maintenance. For example, an aluminum manufacturing plant faced a bottleneck in its cold mill, which was fixed by running longer strands of the same material. This allowed the plant to maintain a lower OEE while maximizing asset utilization.
About Matt Sobiesky
As an independent consultant at McKinsey, Matt focuses on operations and capability building. He has experience working with clients struggling with cost reduction, capacity increase, or growth readiness. He has worked with a colleague who is known for his expertise in Lean methodology and has a network of manufacturing professionals eager to help them solve their biggest problems. Matt's passion for operations stems from his background in operations and his passion for helping clients improve their operations. He has worked with clients who are aspirational and want to be the best of the best, and he is eager to help them achieve their goals.
Timestamps:
02:00: Understanding Cost Structures and Early Analysis
05:25: Challenges in Cost Bucket Analysis
07:05: Insights from Cost Bucket Analysis
10:06: Overall Equipment Effectiveness (OEE) Analysis
16:35: Identifying and Eliminating Waste
18:55: Supply Chain and Procurement Analyzes
25:34: Technology and Automation in Manufacturing
29:08: Asset Management and Capex Effectiveness
33:12: Matt Sobieski's Current Practice and Contact Information
Links:
LinkedIn: https://www.linkedin.com/in/matthewsobieski/
https://umbrex.com/resources/how-to-analyze-a-manufacturing-company/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Paul Millerd, author of The Pathless Path and Good Work talks about his books. He explains the behind-the-scenes process of writing about work and the relationship to it. He explains the origin story of The Pathless Path, and how falling love with a woman and with writing led to a complete change in his professional direction. Paul, who had worked in strategy consulting for many years, left his full-time job and became a freelancer. He talks about this experience and how he felt like he was wasting his talent and needed a new story to make sense of how he felt and identify the possibilities that were emerging. The book is not a how-to book, but a friendly companion or guide for people already on similar paths. The book offers mental models, frameworks, and inspirational stories to help them venture into their own work. The conversation turns to money earned and why Paul chose to make less as a freelancer than he had in an employed position. He also talks about the impact of the money script and how societal views on taking a less-trodden path.
A Discussion on Good Work
Paul explains that 'good work' is defined as connecting with oneself and the work, which can be done in various forms. He believes that good work is time well spent, things one cares about, and that it will be interesting to see if people will connect with it. Paul shares his experience of writing for seven and a half years, where he has earned less than 30 grand a year due to some sales in his first book. He and his wife are aligned on the trade-offs and sacrifices they make, such as not owning a house or moving abroad for lower costs. Paul believes that good work is not for everyone, but rather for those who find it fulfilling and want to point their life in this direction. He has met hundreds of people from around the world who have material circumstances, but generally, they are not elite, educated, or high-wage workers. He doesn't recommend it for high achievers with expensive lives, as it is difficult to break out of the identity around status and continued achievement.
Examples of Good Work
Paul also shares examples of people doing what they consider good work, which is not necessarily creative pursuits. For example, someone taking care of a sick relative can shift work during their career, while a singer in Greece shares his music and feels good when he does so. He believes that good work is about prioritizing something of value in one's life and not just making money from it. Over the last year, Paul has been doing nothing but write and take care of his daughter, spending more than he has brought in, and seeing his income decline dramatically over the past six months. However, he believes that if he can get five to 10 experiences of writing a book or doing similar things, he will be happier with how he spends his life.
Exploring the Concept of Leaving Money on the Table
In the chapter Leave Money on the Table, Paul explains the importance of leaving money on the table and the challenges faced by those on unconventional or creative paths. He shares his experience of taking a pay cut to get a job at McKinsey from GE, leaving before receiving bonuses one month before. After quitting his final job, he watched his savings dwindle, but as he slowly started to make money, he found he was enjoying life more. He talks about getting paid in different ways, in experiences, time, and fun. He started to attract good people into his life and values these experiences. The conversation turns to how this concept applies to independent consultants. They should consider factors such as learning something, liking the people, having a decent lifestyle, making decent money, and potentially leading to future work. Paul believes that independent freelancers must leave money on the table to sustain their journey. He advises asking questions like how much would be paid for a project, how excited he is, and what he would do with the money he gets from each project. This approach helped him start his first book.
Thoughts on Status
Paul talks about losing his previous status due to the loss of an impressive job and career trajectory. However, while he still craves appreciation, respect, and admiration from others, he values status for aspects that are not necessarily measurable by money or standing on the top of the corporate ladder. Paul mentions that having a community of thinkers and being plugged into that community is more enjoyable than being anonymous. He believes that the internet has made it possible to build an intellectual life without going to academia or being in a PhD program.
Reclaiming Ambition
Paul explains that he associated ambition with working in the corporate arena and making as much money as possible. He had no one in his life who was an entrepreneur or working independently, so he had to find those people. Through conversation with a friend, he realized that he was ambitious about living a big life and being an active and present father. Paul also discusses the scripts that made him turn away from the idea of ambition. He emphasizes the importance of understanding and reclaiming ambition in one's life.
Side Projects that Fund Good Work
Paul discusses the importance of side projects. He emphasizes that product market fit and person interest fit are crucial for optimizing one's interests and finding fulfilling activities. He shares his enjoyment in creating content and helping people find opportunities. He believes that it is important to take side projects seriously and consider how they can fit into one's life. Paul created a course to make money without selling his time continuously. He also started running workshops, which eventually made money. He plans to use these workshops as a funding vehicle to pursue his goal of publishing 10 books. He has experimented with different types of projects, such as consulting skills and workshops, to find a balance between making money and maintaining a fulfilling life. Paul advises everyone who wants to change their life to rewrite their script.
Paul's podcast and website are available for people to follow his work.
Links:
The Podcast: https://pathlesspath.com/podcast/
The Website: https://pmillerd.com/
The Pathless Path Book: https://pathlesspath.com/
Good Work Book: https://pmillerd.com/goodwork/
LinkedIn: https://www.linkedin.com/in/paulmillerd/
Timestamps:
03:34: The Concept of the Pathless Path
06:18: Challenges and Rewards of Independent Work
07:01: Defining Good Work
11:18: Accessibility of Good Work
15:05: Examples of Good Work Beyond Writing
18:24: Challenges of Leaving Money on the Table
25:21: Reclaiming Ambition
38:19: Side Projects and Person Interest Fit
45:21: Rewriting Work Scripts
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Christian Hyatt, Founder of Risk3Sixty, discusses the top three or four things that chief information security officers at sub-enterprise firms are most worried about right now. He explains that these concerns include the business environment, threat actors, cybersecurity regulation, nation-state actors like Russia and China, and phishing campaigns. He also highlights the unique bridge between cybersecurity and information technology coming to a head with the recent CrowdStrike incident.
Advice to Clients on Cybersecurity
Christian suggests that independent consultants should ask clients questions or warning signs to raise their concerns and consider consulting a cybersecurity expert. He suggests that clients are looking for someone who is a good listener and not operating off fear, uncertainty, and doubt. By listening to clients' needs and concerns, consultants can offer advice on implementing best practices on their existing toolset and spreading security awareness. Christian emphasizes that many big enterprise tools, such as Office 365 and Google Suite, have built-in security, covering many bases. Independent consultants should listen for how well implemented their tools are, listen for business problems they have, and offer security assurance. Offering advice on implementing best practices and spreading security awareness can help firms understand how security is impacting their business and make informed decisions about investing in security measures.
Cybersecurity Due Diligence
In the context of due diligence, Christian states that it is important to consider the company's internal infrastructure, including its cloud-based and on-premises systems. This can help identify potential red flags and ensure the company's sustainability and scalability. For example, if a product company is being acquired, it is crucial to ask about its application security, product security, and scalability. Additionally, understanding the company's mastery of its own product and its ability to scale without the team is essential. Another key factor to consider is the company's internal infrastructure, whether it is cloud-based or on-premises. Integrating with the acquiring firm can impact the cost of the process.
Cybersecurity for Independent Consultants and Boutique Firms
Independent consultants and boutique firms with a few employees should also take cybersecurity precautions. Some good tools for small businesses include G Suite or Office 365, which have built-in tools for file share sharing, email security, and internal messaging. These tools help protect against cybersecurity attacks that originate from email. Installing antivirus tools like CrowdStrike and Sentinel can help prevent attacks at the endpoint level. Blocking and tackling security processes, such as using file sharing platforms like OneDrive or Dropbox. It’s also important to identify areas where money changes hands and take protective measures. Creating an offline backup of key files once a month can help protect against ransomware attacks. Office 365 or G Suite can also be used to store files in the cloud, with tools like spanning for Office 365 creating backup copies of cloud storage. Exploring the full suite of options available to small business owners can help them get coverage for their biggest risks.
Employee Training on Cybersecurity
The conversation turns to the importance of raising employees' awareness of phishing dangers. He recommends using tools that periodically send white hat phishing messages to test employees' skills. Christian suggests that small businesses should focus on creating a culture of awareness and vigilance, letting candidates know about potential scams and asking questions if they feel uncomfortable. There are several tools available for security awareness training, including Curricula. Additionally, he suggests using YouTube videos as part of training, as they can be more effective than expected. By implementing these tools, businesses can create a culture of vigilance and prevent employees from clicking on suspicious links.
The Origins and Growth of Risk 3 Sixty
Christian started his firm as an independent consultant eight years ago, with a trajectory of impressive growth. He initially had one client, a $30,000 one-off engagement, but from there eventually grew the business to 60 clients. Christian shares a few of the tactics behind the growth, including his shift towards cybersecurity. He focused on a few cybersecurity services that had great demand and packaged them as multi-year deals, and recurring revenue. He also learned that organizations have huge compliance requirements. They built a SaaS platform to help them manage the information. They invested in the SaaS platform and started selling it as a subscription. Today, their services are tech-enabled services, where companies often outsource their entire programs to them due to the need for human labor. Christian made strategic decisions early on, scaling the business around recurring revenue streams, over-delivering, and building a good culture. He centered around those activities that felt risky at the time, saying no to big contracts that didn't fit within his revenue stream. He also explains how a book by Gino Wickman, Traction, and The Entrepreneur Operating System, helped him shift the responsibility for business development off of his shoulders to other members of the firm.
Recruiting Talent for Risk3Sixty
Christian hired a West Point graduate to become an ops manager. He believed that hiring great people was a risky move but ultimately helped build a sales function and complement the founder's role. The company also hired a strategic partner with Georgia Tech to hire top students. Despite the early hires, the success of the company can be attributed to the smart people who pushed the founder to think more like a leader and helped him see the future. The company's success can be attributed to the excellent people who helped him make decisions that he wouldn't have made on his own.
The Structure of a Successful Company
Christian’s company has 60 employees, and a top-down structure consisting of an Executive Leadership Team (ELT) consisting of six members: the CEO, President, Head of People, the Chief Operating Officer, the Chief Revenue Officer, and the CTO. The CEO focuses on mission and metrics, breaking down the vision into KPIs and measurables, and making sure everyone understands it. He also works on brand equity through social media, podcasts, and speaking events. He also talks about how he approached pay bands and benefits to attract talent and maintain retention. The CEO manages the ELT, ensuring they are motivated and have the same vision. An initiative Review Board was created to address pent up projects or initiatives that were not previously budgeted. This allowed people to request new projects or initiatives outside of budget season, providing a pressure relief valve for strategic initiatives.
A Successful Marketing Philosophy
Christian's marketing philosophy focuses on teaching good concepts and adding value to people, rather than being an influencer. He uses content such as videos and white papers to add value and engage people, leading to more leads and engagement. He initially used LinkedIn outbound to find open job opportunities and reach out to hiring managers, but found that more people would ignore him than respond. Christian shares his teaching methods on LinkedIn, YouTube, and a newsletter. For cybersecurity-focused content, he hosts a weekly cybersecurity executive brief on YouTube. He also has a marketing team that helps with content creation, and practice leaders who produce content regularly, called media properties, on LinkedIn. Each member of the team has a dedicated content pillar, and it's up to them to create content that resonates with the audience. A marketing team supports them with video editing and accountability. Christian initially did it all himself, using a video editor tool and recording videos and writing white papers.
Timestamps:
03:14: Cybersecurity precautions for independent consultants and small firms
08:10: Cybersecurity awareness training for small businesses
13:51: Growing a consulting firm through strategic decision-making and recurring revenue streams
18:19: Scaling a consulting business by hiring a leadership team
22:24: Leadership decisions and team structure
26:55: Using LinkedIn for business growth and content creation
Links:
- Connect with Christian on LinkedIn: https://www.linkedin.com/in/christianhyatt/
- Check out his book: https://risk3sixty.com/stos
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
In this panel discussion, Lisa Carlin, director of Future Builders and author of the newsletter Turbocharge Weekly, and strategy execution specialist introduces the three panelists, who discuss the challenges of traditional strategy development, including volatility, uncertain business environments, and significant digital and AI disruption. The panelists, Will Bachman, Founder of Umbrex, a global community of independent management consultants, Alex M.H. Smith, breakthrough strategist and author of No Bullshit Strategy, and Rob McLean, investor, philanthropist and co-author of two books on strategy, discuss the challenges of traditional approaches to business strategy.
The Problem of Business Strategy
Rob emphasizes that, previously, strategies were deterministic and assumed certainty in business plans. However, increasingly, there is global uncertainty, and risk and probability should be included in a strategy. He mentions that there are assumptions about uncertainty that don’t hold true. He also highlights the fast change and that the cadence of strategy is changing, but despite this, many enterprises are locked into three and five-year plans. Alex explains why he believes that many businesses lack understanding of effective strategy development and deployment. He emphasizes the importance of making precepts accessible, engaging, interesting, and usable for medium-sized businesses. He believes that traditional strategy is not bullshit but has limited purchase as it doesn't address the needs of small and medium-sized businesses. Will shares his experience with 500 conversations per year with clients seeking consultants, and he shares the main trends in what clients want from consultants and states that it has not changed dramatically over the years, but he also stresses the need for alignment, clarity, and action. Alex identifies the importance of substance and the ability to convert to action. He mentions the difficulty of achieving engagement, encouraging action, and the underemphasis of style in communications. He suggests thinking about strategy as a motivational discipline. Alex suggests that focusing more on sexing up the strategy can make a significant difference in making progress. He suggests that if strategy is viewed as a motivational discipline, it is essential to motivate people to do it. He believes that making the strategy “sexier” will bring stronger results in engaging and motivating buy-in.
Problem-solving, Strategic Intent and Strategic Development
Robs talks problem-solving as a driver of strategic development. The identified problems are viewed through different lenses to achieve a 360-understanding. He mentions the greater premium on new data, and on trials and experiments, and mentions strategy that includes peeling back layers of uncertainty, putting people in a position where they can make decisions and evolve the strategy. He uses an example from Amazon to illustrate this. He also points out that strategic intent is often confused with strategy, as strategy is an integrated set of actions that build value and competitive advantage. Rob shares his experience with the concept of continuous development, and how businesses have changed the timeline on strategic development and clarity on the future. Alex states that medium-sized businesses face a challenge in understanding strategy literature, as it is often constructed to be relevant to large, polar businesses like Amazon. This makes the strategy literature inaccessible for single-brand founders or CEOs, as it is often too broad. This gap in communication between the concerns of large companies and those running small businesses makes it difficult for the latter to effectively develop and communicate their strategies.
Business Strategy in the Context of Technology and Culture
The discussion revolves around the impact of AI on consulting and strategy building. Lisa mentions a top-rated technology podcast, which emphasizes that the number one difference will be strategy and that the most significant impact of AI will be on product managers. Will builds on the use of AI for strategy consultants. He explains the difference between skills and services that rise in status and which ones are lower in status and where using AI is applicable. He offers examples on both using an energy storage company as an example.
Dark Room Consulting
Lisa brings the discussion towards “dark room” consulting where the consultants and executives operate in private before disclosing the strategy to the company at large. Alex explains why he prefers this approach, stating that while it may not be politically beneficial, it can provide a sense of involvement and ownership for a radical, meaningful move. However, this approach can also lead to a slightly autocratic approach, as seen with Steve Jobs and Elon Musk, who were both successful business leaders but also tyrants in their own businesses.
Rob talks about the workers’ strategy as bifurcating, and he shares an example from McKinsey where they used AI, and that employing “dark room” tactics can work well however working closely with the front line is also important in strategy building. Will shares a story from his days as a submarine officer that clearly demonstrates the benefits and need of front line work a consultant needs to do. This also involves gathering information, and Alex adds how this allows everyone to feel involved, while maintaining the core idea and decision-making back to the people who lead the company. While this approach may not be as democratic as some may prefer, it is essential for businesses to adapt and evolve to stay competitive in today's competitive market.
Q&A Session
The conversation opens up to questions and panelists are asked to share one recommendation. Rob suggests a problem-solving approach that recognises uncertainty, a tolerance for ambiguity, and taking steps forward feeling the stones beneath the feet. Alex states that, if a change in results is desired, changes to strategy must be made. Will focuses on implementation, stating that strategy implementation, or execution, or transformation is in high-demand and notes that increased resources in these directions are needed to make the change happen. The conversation covers a variety of areas including strong leadership vs. dictatorship, helping people feel comfortable with uncertainty, the need for monitoring and evaluation improvement during implementation, and the importance of measuring the impact of their work, particularly in implementation. And finally, the audience shares their key takeaways from the discussion.
Timestamps:
05:43: Strategy development for small to medium-sized businesses
10:11: Strategies for effective communication and implementation in business
17:01: Strategy in a rapidly changing world, with a focus on dealing with uncertainty and ambiguity
25:08: Strategic planning for businesses of varying sizes, with a focus on the challenges of scaling and the importance of industry knowledge
31:04: The impact of AI on strategy development and execution
37:13: Strategy development, emphasizing the importance of gathering insights from frontline employees and changing meaningful aspects of the business to improve results
42:46: How to handle uncertainty in business strategies
47:33: Implementing strategies with uncertain outcomes
Links:
Connect with the other two panelists on LinkedIn:
Robert McLean: https://www.linkedin.com/in/robert-mclean-412268ba/
Alex M. H. Smith: https://www.linkedin.com/in/alex-m-h-smith/
Connect with Lisa Carlin on LinkedIn Connect on LinkedIn For for more like this, please subscribe to Turbocharge Weekly: Fast-track your strategy. 3 tips in 3 minutes from 50+ implementations. Join 8,000 leaders now. https://info.theturbochargers.com/register-turbocharge-weekly
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
In this episode of Unleashed, Will Bachman discusses cold outreach with David Fields. David advises that cold outreach is a last resort tactic and should not be included in the mix of marketing strategies. Instead, he suggests that consulting firms should focus on the five marketing musts to build their network.
Why Cold Outreach is Inefficient
David emphasizes that cold outreach is remarkably inefficient for most consultants, as it is often slow to close and has a long sales cycle. He suggests that firms should experiment with cold outreach to find the best approach based on client feedback and experience. David also shares some historical insights about cold outreach. Cold outreach tends to respond better when closer to product sales when hardcore selling messages works better. David states that, when selling expertise and experience which is trust driven, cold outreach doesn't work well.
The Aggressive Reframe Approach
Aggressive reframe, which involves asking for something rather than just asking for it, can also work well for cold outreach. David suggests that most consulting firms think they should differentiate versus competition, but this is not how they win business. David explains what the aggressive reframe approach is and how it works for consultants.
The 111 Messaging Effective Outreach Technique
David discusses the effectiveness of 111 messaging, a technique developed for cool contacts in your network core. This approach is particularly effective for cold outreach on LinkedIn, as it requires some modifications. He explains that 111 messaging is a way to construct messages to people, focusing on the other person and their needs. It is a right-side-up email, one line, and one question that must be easy to answer. The 111 approach is designed for cold outreach and works well on LinkedIn. The message should be one-sided, one-line, and asks one simple question. The message should be short and simple, and the recipient should be able to answer the question easily. David shares the response rate from this technique, which is better than any other engagement technique, and offers examples of simple questions to ask.
How to Use Cold Outreach Effectively
David Fields discusses using cold outreach correctly in acquiring clients. He believes that it is not efficient enough to get leads, as it requires a long sales cycle and a high close rate. To do cold outreach correctly, he suggests viewing it as the first step in a three-year process of winning clients and think of it as an investment in gaining future clients. David shares his tips on how to engage someone connected through LinkedIn who may be a potential client. The best practices in messaging are discussed, including keeping messages short to the point and focused on a topic that meets the needs or interests of the recipient. David also shares a story about using focus groups and how companies can be encouraged to launch products that nobody wants. He talks about the Ben Franklin approach, which involves asking for a small favor instead of trying to give a favor, such as asking for help on articles, webinars, research, podcasts, or other activities.
How to Use Content as Lead Magnets
The conversation turns to the concept of lead magnets, which is content that people can download and engage with on social media. David offers the example of his two published books which have generated millions of dollars in business. He believes that a book is a lead magnet, but it is not free on the website. He suggests that the best way to convert people who consume content into clients is by creating an opportunity for them to join in and engage in conversation. It is suggested that, instead of just putting content out there, it is important to create engagement and opportunities for people to join in and interact with the content.
It is recommended that, if someone comments or downloads a piece, there are steps that need to be taken to reach out to that person. Higher engagement approaches, webinars, and podcasts that generate a conversation have been more successful than just putting content and lead magnets out there. David discusses the importance of making it easy for people to reach out to a firm. He believes that longevity and having published around 500 articles in addition to books contribute to this success. He also mentions that they do not engage with their tribe members, but rather let them know about the boutique consulting Forum and he discusses models for engaging with tribe members.
Timestamps:
04:55: Cold outreach techniques, including Ben Franklin approach and 111 messaging
10:03 Using 111 outreach for consulting firms to re engage with leads
17:16 LinkedIn outreach strategies for connecting with potential clients
20:37: Lead magnets, cold outreach, and converting blog subscribers to clients
26:35: Creating opportunities for conversation in content marketing
32:24: Cold outreach effectiveness with client success stories
Links:
Sales Benchmarks: https://www.davidafields.com/important-sales-benchmark-for-your-consulting-firm/
Website: www.davidafields.com. Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Tish Baldez, a leading expert in management consulting, has worked with small and mid-sized consultancies and 20,000 professionals worldwide. She shares the trajectory of her career from an independent consultant to a managing partner and leader at P31 Consulting LLC, a training program for professionals in management consulting, life science, IT consulting, finance, banking and more, and how they became a 100% referral-only business.
The Foundations of the P31 Training Program
Tish introduced the foundations for consulting skills program about a year and a half ago, which enables small businesses hiring new analysts, consultants, and engagement managers without formal structure training on how to do consulting or work in a consultative way. The program focuses on providing foundational skills, storyboarding, and teaching how to synthesize data and communicate it meaningfully for clients. The program is currently running multiple sessions a year in the US, UK, and Latin America. The P31 Academy offer to help scale up and accelerate the learning curve of consultants, allowing them to be more effective and successful.
Storyboard Presentations for Consultants
Tish also trains 30-40% of their people on how to storyboard presentations in the traditional consulting way, teaching the principles of how it works and why it works. They also have a special version for scientists, medical professionals, and people working within Life Sciences or data science organizations, helping them become business fluent. This program helps them understand what they're presenting and translate it into language that is meaningful for their audience, making it easier for them to make decisions and take actions based on the presentations.
The Foundation for Consulting Skills Program
The foundation for consulting skills is a 100-day experience that combines online, self-directed, and self-paced learning in addition to a combination of in-person and virtual-led instruction with expert consultants. The program includes a three-day intensive, where participants work independently for a few weeks, then come together for a three-day intensive in different locations in the UK and the United States. The remaining weeks involve small group exercises and one-on-one coaching and group coaching sessions. The focus is on major transformational bills, such as skill development, practical application, and theory. The program ends with a celebration of completion. One unique aspect of the program is the incorporation of neuroscience, which is intentional about engaging the brain and getting synapses going to ensure learning sticks and becomes habitual. The program also uses brain exercises to activate both the left and right side of the brain. The program is fun, engaging and conducive to adult learning, with participants finding it challenging but ultimately gaining the necessary skills.
Breaking Down the Consulting Skills Program
The program typically has 20 participants, with four coaches in the room, two of whom serve as facilitators. Each pod is assigned to a coach, who ensures that the participants receive individual coaching and feedback. This approach helps maintain a one-to-five ratio, ensuring individual coaching and that participants feel comfortable participating without feeling overwhelmed. The program begins with framing the problem, teaching the hypothesis-based problem-solving model, breaking down analysis and synthesis into separate pieces. Storyboarding is introduced, with the principles and reasons behind its effectiveness, as well as articles and papers that have been studied and proven effective. The program also emphasizes content and messaging, with key messages supported by evidence. The final presentation is a case-based course that covers various industries, including science, data science, finance, and accounting. The purpose of the case-based training is to provide a good foundation upon which the participants can apply their skills.
The Demographic Profile of Attendees
Tish discusses the demographic profile of attendees, which includes people coming out of college, mid-career professionals, and robots. They initially intended to cater to individuals who were hired by their consultancies and needed training for their skills. However, they found that many consultants from industry had never been taught how to do consulting, leading to a need for foundational training. Tish also talks about the pricing for their programs, including a course that specifically addresses the unique needs of these experts, scientists, and medical professionals, who need to learn how to translate their brilliant work into meaningful messages that make sense for the business.
The Key Values of a P31 Coach
Tish discusses the role of facilitators in their business. They are looking for experienced consultants with a background in management consulting to facilitate effective training. They believe that consultants should not just be great lecturers but also be able to identify learning opportunities for the participants and make adjustments accordingly. The company has a core team with a leader in the UK, overseeing Latin American business, and overseeing the United States and Asia Pacific.The focus is on business transformation, not just skills development. The company aims to help consultants build relationships that last a lifetime, ensuring they bring value on an ongoing basis. As the business world has changed, the training they provide has evolved. One key aspect of their training is staying relevant and ahead of clients. Tish mentions that COVID-19 has changed the way they interact and engage with clients, and the skills needed to be effective have evolved.
Timestamps:
05:35: Training consultants for business fluency
09:46: Incorporating neuroscience into training programs to improve retention
13:25: Intensive three-day training program for consultants
18:23: Training programs for consultants and scientists to communicate effectively with business audiences
23:54: Hiring subcontractors for training with a focus on experience and relevance
28:26: Staying ahead in business by providing value and building relationships
Links:
P31 website: https://p31-consulting.com/
P31 LinkedIn: https://www.linkedin.com/company/p31-consulting-llc-us/
P31 Academy: https://www.linkedin.com/company/p31-academy-for-consulting-performance-excellence/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
In this episode of Unleashed, Michael Rubenstein discusses the importance of organizational culture in mergers and acquisitions (M&A). Michael's expertise is broader than organizational culture; he offers a bird's eye view of an organization to help move it to the next phase in their evolution which includes: Strategy, M&A, Value Creation, People and Culture, etc. It’s all about moving an organization to the next phase in their evolution and includes: Strategy, M&A, Value Creation, People and Culture, etc. He believes that culture is the key to a successful integration and that it often goes unnoticed. He suggests that when assessing a company's culture, it is essential to identify the culture elements of the current company and the target company, and identify any gaps.
Key Points in Assessing Company Culture
To do this, Michael recommends conducting self-assessments and assessments of both companies, as well as conducting interviews with stakeholders such as leadership, employees, customers, and suppliers. These interviews can help identify critical issues that could be problematic or could be beneficial. A culture diagnostic is a process that involves asking open-ended questions about how decisions are made within a company. This can include whether the organization is meritocratic, where instructions come from the top, or more empowered, where people have more autonomy in their roles. It is also important to consider whether the decision-making process is customer-driven, or operationally driven.
Unpacking Elements of Company Culture
Michael states that culture is a complex concept that encompasses behaviors, norms, and rituals. Behaviors involve people working together, collaborating, hiding information, and doing things for the greater good or their own benefit. Norms are standards that hold individuals accountable for values, self-integrity, and communication within an organization. Rituals are important and often involve stories and networking opportunities.
The Benefits an Organizational Diagnostic
An organizational diagnostic can help identify gaps in culture, which can be useful in assessing the current state of the organization and the target acquisition company. A visual representation of the organizational diagnostic can help identify gaps and areas for improvement. For example, if the company being acquired is more advanced than the current one in terms of collaboration, it can help probe and identify areas for improvement. Michael explains that a case study can help assess the impact of a mismatch between cultures and the success of a merger. In a successful merger, culture was a key factor, as the acquiring company focused on taking the best people, processes, and models from both organizations. However, in a failed merger, the acquiring company ignored the value of the best people and processes, leading to a loss of billions of dollars in acquisition costs.
The Importance of Culture in Organizations
Michael discusses the importance of culture in organizations. He suggests assessing gaps, identifying positive aspects, and assessing alignment. He emphasizes the need to create a sense of unity and use language that is meaningful. Rubenstein also suggests soliciting input from stakeholders about creating a future state and creating a cultural strategic weapon. Culture is crucial as it is unique and cannot be duplicated by competitors. He suggests using a culture lens to frame people processes and tools, and building initiatives around this. Michael's practice is a boutique advisory firm that focuses on culture across various industries. He believes that culture can either facilitate or kill any other initiative, whether it's about strategy, change management, or continuous improvement. In conclusion, culture is a crucial aspect of any organization, and it can be a powerful tool for fostering harmony and success. By addressing cultural gaps and fostering a culture of alignment, organizations can create a more successful and successful future state.
Timestamps:
00:12: Organizational culture in M&A deals, including diagnostic tools and assessing gaps
05:50: Organizational culture, behaviors, norms, and rituals
13:01: Culture in M&A deals and its impact on success
Links:
Email:michael@rubensteinadvisory.ca
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Lisa Carlin, founder of Future Builders Group, discusses her experience in consulting and the need for a more passive income stream. She has over 50 strategy execution projects and programs that focus on business strategy, project management, and change management. Lisa believes that achieving scale in these areas requires changing the focus of the business and execution messages to what is important to the culture. In this episode, Lisa talks about developing and running a membership community.
Building a Subscription Business
The TurboCharge Hub membership offers a platform for functional experts to learn how to develop and execute strategies. The group is currently launching its own website called TurboChargers.com, and she meets with members twice a month on Zoom. One of the biggest lessons learned from her experience is the importance of understanding the client's pain points and tailoring their solutions accordingly. As people join, Lisa learns about their ideal customer profile and their biggest pain points, which allows her to provide key messages to the market.
Lisa also shares her lessons learned from her own experiences, such as being clear on the ideal customer profile and understanding the key message. By learning from her clients and focusing on their needs, she hopes to help others build their own successful memberships.
Key Steps in Recruiting Members for a Subscription Business
Lisa shares how she built a following, which included learning more about building a strong brand, and reaching out to B2C and B2B communities. She started doing podcasts, signing up for conferences, and having a lead generation machine set up on LinkedIn. This has been effective in growing her LinkedIn profile and inquiries. She met with people she knew would sign up. The next phase of people signing up was people who heard her on a podcast or at a conference. The audience is mostly business leaders, CEOs of medium to large organizations, and entrepreneurs with a strong innovation flair. Lisa has also learned to hone her writing skills and set up a newsletter. The community now consists of 7300 people, mostly CEOs of medium to large organizations and entrepreneurs.
Working with a Podcast Agency
Lisa discusses their experience with a podcast agency and the results she has received from it. She shares information on fees and services, which involves developing a podcast profile and reaching out to potential clients. The agency also offered the opportunity to choose the podcasts she wanted to produce and post them on LinkedIn as native content and as YouTube clips for their YouTube channel. She also mentions that she has not considered offering a special discount code for listeners of the podcasts, but she is interested in taking on affiliates to distribute their software. She is also interested in partnering with consultants to help spread the message that understanding culture is essential for success.
The Benefits of the Digital Funnel
Lisa shares her experience with the digital funnel and the benefits it provides. She has a cohort of about 40 subscribers, some of whom are clients and colleagues, and some are paying members. She uses Tekmatixs software, based on a system called Lead connector, which includes an education platform. The platform allows users to sign up for a newsletter, access a lead magnet, or resource, and eventually become paying members where they can access the modules, master classes, and playbooks of frameworks. The system also includes access to Tekmatixs, which is an affiliate link for those interested in trying the system. Group coaching sessions are also available for users to take and participate live. Lisa also shares her experience with email marketing and conversion rates.
Working with a Podcast AgencyLisa discusses their experience with a podcast agency and the results she has received from it. She shares information on fees and services, which involves developing a podcast profile and reaching out to potential clients. The agency also offered the opportunity to choose the podcasts she wanted to produce and post them on LinkedIn as native content and as YouTube clips for their YouTube channel. She also mentions that she has not considered offering a special discount code for listeners of the podcasts, but she is interested in taking on affiliates to distribute The Turbocharge Hub. She is also interested in partnering with consultants to help spread the message that understanding culture is essential for success. The Benefits of the Digital FunnelLisa shares her experience with the digital funnel and the benefits it provides. She has a cohort of about 40 subscribers, some of whom are clients and colleagues, and some are paying members. She uses Tekmatix software, based on a system called Lead connector, which includes an education platform. The platform allows users to sign up for a newsletter, access a lead magnet, or resource, and eventually become paying members where they can access the modules, master classes, and playbooks of frameworks. The system also includes access to Tekmatix, there is an affiliate link for those interested in trying the system. Group coaching sessions are also available for users to take and participate live. Lisa also shares her experience with email marketing and conversion rates. Becoming a Speaker at Conferences The conversation turns to getting booked at conferences and identifying potential speaking engagements. Lisa finds that it's easier to pitch her content when people are in a defined niche, such as change management or AI. She also participates in mastermind groups, where she speaks to 15 CEOs at a time and shares her material with the group. This process helps build reputation and attracts more subscribers. She discusses the various conferences on functional areas such as strategy and project management culture and mentions that industry players and executives typically attend industry-focused conferences, such as the auto industry or waste management conference. She mentions that there are various industry associations, such as marketing and finance associations, that focus on project management and transformation, and virtual conferences that offer virtual speaking opportunities. Lead Generation SuccessLisa shares how she has gained 7,000 subscribers on her newsletter. She mentions SkyLead, a tool that can target a group of people who have commented or liked a post. She shares results on a tactic where she received a 72% rate on connection requests. She has also used SkyLead to send connection requests in three different ways: direct email, direct connection request, and in-mail messages and she shares the results. She also mentions that the messages are incredibly sensitive to the length of the connection request, which can sometimes lead to a 10% decline in response rates or acceptance rates by adding three words. She concludes by emphasizing the importance of short, concise messages in connecting with people who have commented or liked her posts. Lead Magnets and Email Strategies that Work Lisa shares her experience with experimenting with different methods, such as sending lead magnets or emails, which had varying degrees of acceptance. One example was sending an email message to someone who agreed to subscribe to her newsletter, which she found to be more effective than sending a direct message. She also mentions a passive approach to managing connections. Her goal is to provide value to her connections and make it easy for them to unsubscribe if they want to. She talks about the platforms she uses to increase the number of connections and convert them into subscribers. She also emphasizes the importance of providing value. SkyLead allows users to send connection requests, emails, and both free and paid in-mails. It also offers a built-in algorithm to ensure that messages are only sent to people who have not been previously connected with the platform. Timestamps:
06:06: Marketing and growing a membership business for functional experts
12:18: Podcasting for business growth, with a focus on strategy execution and culture change.
17:42: Digital marketing funnel for education business
24:22: Growing a community through newsletters, conferences, and mastermind groups
30:53: Speaking at conferences, lead generation, and newsletter subscribers
37:04: LinkedIn automation tool Sky Lead, with 72% connection request acceptance rate
43:46: LinkedIn connection requests, email newsletters, and automation tools
50:42: Using LinkedIn's Skylight system for automated messaging
Links:
Website: http://www.futurebuildersgroup.com/
CEO Guide: Boost Your Productivity with AI Tools for Strategic Initiatives: https://learnadmin.futurebuildersgroup.com/grab-your-ceo-guide-boost-your-productivity-with-ai-tools
5 Future Trends in Change Management https://learnadmin.futurebuildersgroup.com/grab-your-5-future-trends-in-change-management
Discover your capability for strategy execution and transformation. Calculate your free Transformation Success Score
Subscribe to Turbocharge Weekly. Join over 7,000 business leaders and innovators are interested in accelerating their strategic projects with a Culture-Friendly approach.
Connect with Lisa Carlin on LinkedIn
17 top transformation tips, the checklist behind the 96% success rate in strategy execution
Turbocharge Hub, for frameworks, learning and community to reach your full potential as a change leader.
FutureBuilders website
Lisa Carlin New YouTube channel
Lisa’s Tech Tools:
- SKYLEAD LinkedIn automation
- Tekmatix CRM Newsletter Education Workflow Calendar tool
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Jeremy Greenberg discusses the AI-powered audience simulator built by the Avenue Group. The tool allows users to provide a set of custom instructions for different audience segments, like research or interviews. It allows users to ask questions of qualitative and quantitative nature, and within minutes, results from simulated respondents are obtained. The tool mirrors the sentiment of collective segments and audiences, similar to chats or LLMs on a one-on-one basis. This tool is useful for collecting the opinions of celebrities, for example, Steve Jobs, highlighting the immense power of LLMs in capturing the distributions of the underlying population.
Creating an Audience
Jeremy discusses the process of updating the front end and the first section of the tool. He states the importance of setting this to create an audience, which is the global population interested in a specific topic, such as Americans drinking Coca Cola. This audience is then used to create sub-segments within the audience, each with its own criteria. For example, if the audience is comprised of decision-makers who decide on software for small businesses, they can segment them into different countries.
The Creation of Segments
The second section of the tool allows for the creation of segments. These segments can be categorized by industry, such as executives responsible for sourcing and procuring uniform rental services. For example, if the audience is comprised of executives in the food service industry, they can create a segment with one trait, such as "work in the food industry." The third section allows for the addition of more traits, such as "work in the food service industry," to further narrow down the audience. This allows for more targeted and targeted marketing efforts.
An Example of Segmentation
Jeremy uses the example of the janitorial services industry to identify the three segments. They create a review section that outlines the different traits and elements that comprise each segment, with a sample for each and a percentage base of the total. The group is asked questions about their current use of uniforms and key buying criteria.
Jeremy recommends starting broad and going deeper with research, such as asking about the company, title, years in the industry, demographic information, and other relevant details. Open-ended questions can be added to gauge the industry's knowledge and understanding. For example, asking about the company's history and the number of vendors they work with could provide valuable insights.
Quantitative questions can also be added to gauge the wallet fragmentation and the primary vendor's satisfaction level. For example, asking about the number of vendors they have for uniform rental services could provide insight into the distribution of the wallet. Additionally, asking about the top three criteria for selecting a vendor can help determine the industry's competitiveness.
The Inspiration for Building the Tool
The inspiration for building the tool came from research in academia. He cites a podcast called "Me, Myself, and AI" where they talked about research they’d done and hypothesis tested on price sensitivity related to income and brand value, which demonstrated that AI can understand these factors. They also wanted to understand the distributions of different responses, mirroring the reality of the world. To achieve this, they worked with an advisor and member of a research team at the Wharton School. This allowed them to learn how to use the tool in more advanced and creative ways. The tool is currently being developed and is in the process of being bolted up with all its features and capabilities.
Analyzing Responses from Segments
Jeremy talks about the process of creating a tool for analyzing responses from different segments. He discusses the importance of creating a sequence of events within the tool, such as creating 60 different personas and interviewing each one individually. The tool also ensures that subsequent respondents are aware of previous responses to avoid repetition and create a distribution that is representative of the actual segment. The results of the survey can be viewed in Excel and Google Sheets, with column headings that represent traits and the segment response. The questions include the industry, company, title, years in the industry, and number of vendors. Jeremy explains how the tool provides information on the internal consistency of the responses.
Conducting Research and Comparing Data
Jeremy emphasizes the importance of getting comfortable with the tool's accuracy and comparing it with their own data. He believes that this will be a significant impactful tool for conducting research. He also mentions that the panel industry faces challenges in getting surveys and finding people, and the power of these models is strong. He believes that the future of the survey tool will likely involve collaboration with various organizations, such as consulting firms, research firms, and researchers from various industries.
For listeners interested in signing up for the beta version or to be put on the waiting list, email: info@avegroup.com
Timestamps:
00:25: AI-powered audience simulator for market research
06:09: Creating segments and adding traits for a target audience in market research
14:14: Uniform rental services, including vendor selection criteria and annual spend
19:11: Building a tool to simulate human responses using AI, with a focus on understanding price sensitivity and brand value
25:09: Vendor selection for uniform rental services
29:42: Using AI to improve survey research with demos and beta program
Links:
Demo Video: https://us17.campaign-archive.com/?u=66d85c8e8b72aebc12535cdfa&id=c98ffd78d4
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
In this discussion, Professor Brian Kaplan discusses the science and ethics of housing regulations and the argument for housing deregulation, which he believes benefits everyone across the political spectrum, including lower costs and more equity.
Barriers to Radical Housing Deregulation
Bryan believes that to achieve radical housing deregulation, it would require convincing a large audience of people that it is a good idea. He explains that most people don't see the connection between letting people build and low prices, and there is a hypersensitivity to the harms a building can cause. The conversation also explores issues of environmental regulations and renewable power, and opposing forces lobbying to keep current housing regulations in place, such as community activists and the construction industry.
Housing Developers and Zoning Laws
The discussion turns to various types of regulation and barriers faced by developers, including zoning laws, which are often used to separate industry from commercial and residential areas. He talks about the expression “the zoning tax”, used by economists. Bryan believes that abolishing these regulations would be the best solution, and that, unfortunately, there is a slippery slope in allowing owners to preemptively stop someone from using their property as they want, it stymies action of any kind, and it can lead to laws that are overreaching and, most often, unnecessary. He talks about the law of nuisance and the burden of making a lawful complaint should be the responsibility of the complainer and not of the court to mitigate potential complaints in advance.
Historical Preservation and Housing Regulations
He discusses the issue of historical preservation regulations, which may not necessarily lead to the demolition of historic buildings. Market forces play a role in preserving historic buildings, as people often value them and don't want to tear them down. However, if there is a significant difference between the value of renting office space in historic buildings and the extra value from turning them into residential spaces, the market is spoken. He mentions that every historic building was built on the rubble of a previous, more historic building. Bryan states what he believes is the best, most easy solution to this problem. He also offers an example of why the motivation to preserve many historic buildings is quite ironic.
Environmental Building Regulations
Bryan addresses the environmental regulations that new builders face when building new buildings. He believes that current environmental protection laws are counterproductive, as they prevent developers from building in areas with favorable climates and reducing carbon emissions. Instead, he suggests making it easier to build in areas with good conditions, such as Southern California, where the weather is good and housing units can be built for millions of people. He talks about the importance of privatizing government land, particularly in the US, and suggests that developers should focus on what people want to pay for rather than environmental philosophy. He also discusses the lack of research on building codes and standards, which are often focused on land use regulations and safety regulations. He believes that the free market can ensure quality products, and explains how licensing, certification, and insurance companies play a role.
Accessibility Requirements in Housing Regulations
The conversation turns to accessibility requirements, such as the Americans with Disabilities Act (ADA). Bryan suggests a voluntary system where developers can target specific markets for ADA accessible buildings. He also discusses the challenges of building skyscrapers and density regulations in the United States. He argues that while technology has allowed for the construction of tall buildings, getting government permissions to build them is difficult, especially in desirable areas. He suggests that if skyscrapers could be built closer to desirable locations, it would make living in these areas more affordable. Density regulations are another issue, as 80% of residential land is zoned for single-family homes. This makes it difficult for builders to build multi family homes, which is often expensive due to the paperwork involved. However, if housing is cheap enough, it is possible to have spacious apartments and entire floors of skyscrapers at a reasonable cost. Bryan also discusses the difference in cost per apartment or per square foot between single-family and multifamily housing.
Building Costs and Economies of Scale
Building costs can be influenced by economies of scale, with skyscrapers being more expensive per square foot. Research shows that, averaging over the United States, regulations roughly doubles the cost of housing, with San Francisco and Manhattan having the worst regulation costs. Deregulating a small part of New York City could lead to skyscraper development almost immediately due to high prices in surrounding areas. However, if all the land was deregulated, then building skyscrapers of a certain height would no longer be profitable if there were many skyscrapers in the area and housing costs had been lowered. Overall, the cost of housing per square foot in a neighborhood depends on factors such as land, labor, structure, and regulation.
Community Engagement and Developers
Community engagement and public hearings are crucial for developers to build a building, as they must negotiate with the community to determine the benefits they will provide. However, many complaints are unmet, leading to delays and potential financial losses. A book called Neighborhood Defenders provides transcripts of land use meetings in Massachusetts, revealing that the complaints are often from paranoid homeowners, not wealthy homeowners, who fear disturbance or the neighborhood's character. The democratic process, while effective, puts the power to veto progress in the hands of paranoid people who don't speak for anyone but themselves.
Local Politicians and Housing Developments
Local politicians often claim to focus on increasing the tax base and lowering housing costs, but they often face criticism for their actions. The most simple-minded emotional arguments often prevail, as politicians are not there for the long term and may prioritize re-election over long-term goals. The antipathy for the housing industry is rooted in the fact that it is a big business, and housing is the second most vital necessity after food. Despite this, housing is often maligned, as it is the second most vital necessity after food.
Affordable Housing Regulations
Bryan discusses the concept of affordable housing requirements and their various versions. He identifies three common approaches: subsidizing demand and strangling supply, rent control, and public housing. The most common approach involves government subsidies for poor people to buy housing while restricting the supply. The least common approach is taxing the housing industry to produce different types of housing, which can make unsubsidized homes even more expensive while making affordable ones less expensive. Public housing, on the other hand, addresses the issue of not having enough housing and produces more housing. However, this approach generally faces issues such as high costs, lower quality, and poor maintenance by nonprofit sectors.
Noise and Nuisance Regulations
When it comes to noise and nuisance regulations, Brian compares the old system to the new system. Bryan suggests that there was a better system during the period without regulation, where complainers could take recourse to the courts. He also mentions the homeowner association (HOA) as an intermediate market system for handling complaints. HOAs are flexible and limited to one area, allowing residents to be aware of the rules in place and decide whether they want to buy in or not. Bryan closes the conversation with a brief discussion on the ratcheting of regulations, economists, embedded interests, and political psychology.
Timestamps:
00:23: Housing deregulation, with insights on opposition forces.
04:42: Regulations and their impact on development, with a focus on zoning laws, historical preservation, and the role of the government in decision-making
12:29: Preserving historical buildings and environmental regulations
16:19: Government regulations and building codes, with a focus on the free market and insurance companies setting standards
21:05: Regulations and their impact on affordable housing
27:35: Housing costs in New York City, with a focus on Astoria
32:21: Skyscraper construction costs and community engagement challenges
37:44: Affordable housing requirements and their impact on development
43:02: Housing regulations and their impact on affordability
48:12: Regulations and their challenges in society
52:54: Housing regulation and special interests
Links:
Website: http://www.bcaplan.com/
Email: bcaplan@gmu.edu
Substack: http://betonit.substack.com/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Maria Isabel Rios discusses the importance of making a firm work for you, rather than working for your firm. She emphasizes that firm leaders often immerse themselves in their firm in service to growing the firm to make it successful. Isabel suggests that a better way to be a firm leader is to make your firm work for you. This involves finding ways to evaluate your firm, add value to your life, and bring success into the picture.
A Formula to Make Your Firm Work for You
A formula for making a firm work for you includes identifying key areas of importance in your personal life, and looking at your consulting firm's purpose, values, and intentions. Then, you can look at how these elements can intersect. The formula should be tailored to your needs and preferences, and should be specific to your goals. For example, if you want to spend one weekend day with family, zero work, every week for the next 52 weeks, this can be a more specific goal.
Another example is a firm leader setting their goals for financial success, which can be a specific percentage of their income that goes into their retirement account. By making these personal intentions specific, you can create a formula that works for you and your firm.
Personal Intentions and the Intersection with Work
Maria discusses the importance of identifying personal intentions and focusing on what brings joy to oneself. Then move on to the intersection with a firm. She describes five models of intention for firms and how this intersects with personal goals. Maria gives examples of firm leaders intentions and what they want in their personal and professional life, and how they make both work. She suggests that, by focusing on these models, individuals can better understand their intentions and make decisions that align with their goals and objectives.
Maria explains how the different models work with life.
Shifts and Growth in Business Models
Maria talks about the concept of a shift in business model. She shares examples of clients who are overworked and need help to reduce their hours and focus on a healthier lifestyle. She emphasizes that independent consultants often have an embedded model in mind, which often involves working long hours for high profits and success. However, when clients feel burnt out, they may need to consider the happiness the firm life brings to the firm leader. To make a shift, Maria suggests that clients should consider their personal intentions and work backwards to determine how to achieve this. This could involve taking larger projects or creating more sustainability in their pipeline. Additionally, they should strategically shift the model of how they deliver to reduce the firm leader's role in delivery. Maria also touches on other aspects of the firm's role, such as building a reputation as a thought leader or creating an online course to generate revenue. By planning ahead and aligning activities to achieve these goals, clients can create a sustainable firm that can deliver on their desired lifestyle. Maria emphasizes the importance of being intentional about what they want and not automatically taking on more projects and hours each week.
Timestamps:
08:07: Prioritizing personal intentions and defining firm goals for the next 3-5 years
15:55: Building a business model for impact vs. financial gain
23:32: Scaling consulting firms sustainably, prioritizing firm leader's well-being
30:35: Planning and intentionality for consulting firms
Links:
https://www.davidafields.com/mondaylive
Website: https://www.davidafields.com/blog
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Lindsay McGregor discusses her firm's focus on building high-performing organizations. She explains that the highest performing organizations motivate people in a specific way, unlocking play, purpose, and potential for the problem they're solving. The firm trains leaders to be inspirational and consults with organizations on designing their operating models. She shares a story about how the firm explained the deeper concepts of play at work, and how implementing these concepts of play was worth millions of dollars to the fund's portfolio managers every year. Play is often seen as something we do during our hobbies, but when we feel engaged by what we're solving, we perform at our best.
Utilizing Play Concepts for Growth Management
Lindsay talks about the tools used to facilitate the play process and shares a sample engagement with a client who was the founder of a tech company that had scaled rapidly and the former processes no longer worked. Lindsay shares examples of the challenges faced in managing a team due to the rapid growth of the organization, including issues of talent retention, burn out, and AI adoption. To address these issues, Lindsay’s firm found three simple, easy-to-implement routines: goal checks, health checks, and skill checks. She shares a story that demonstrates the benefit of problem solving activities. She explores each routine and explains that, by focusing on these strategies, companies can ensure their teams are equipped to handle the demands of their rapidly growing environment and maintain a competitive edge.
Outcome-related Goals, Process-related Goals, and Idea-related Goals
The conversation moves to outcome-related, idea-related, and process-related goals in a company. Lindsay emphasizes the importance of tracking process metrics and idea metrics to track how many ideas or experiments are being run. Aggressive goals can lead to increased effort, but it's crucial to manage experimentation and work smarter instead. For example, a tech company's recruiter had to fill double the number of jobs in the coming quarter than she normally does. By breaking down her goal into six categories, AI helped her create five sub goals that focused on working smarter, not harder. This allowed her and her leader to focus on creatively adapting their approach.
Team Alignment, Strategy, and Outcome Goals
In some organizations, having a senior leader join the goal meetings and challenges can be powerful, as it allows senior leaders to help block the team and identify blockers that are outside of their control. This creates a sense of understanding and cooperation between the team and the executive. The quarterly health process and skill check are essential for ensuring the right goals are set and the team has the necessary skills to accomplish them. Motivation in the workforce is a key factor in achieving success. A study found that people who learn valuable skills on the job and have good work-life balance are more motivated. However, many find learning new skills difficult, as it is often seen as a big training or time-consuming process. Lindsay talks about the problem of skills gaps and how to deal with this issue. Lindsay also mentions the benefits of remote work culture, which can be great but requires more intentional skill building, and offers a few approaches to team skill building.
Vega Factor Certification for Consultants
The discussion revolves around the firm's resources and tools for consultants to access, such as goal checks, health checks, and skill checks. One of their current offerings is a platform called Factor, which enables consultants to run goal checks, health checks, and skills checks. They train and certify consultants to do these checks with their organizations. The certification and training process for using the platform is a six-part learning session that goes deep into how to conduct these checks. The platform is designed to help consultants and leaders retain top performers by putting in place good processes, making it easier for them to problem solve with their teams. Lindsay talks about the popular training sessions, including how to solve problems cross functionally, and how to make cross-functional collaboration and problem-solving easy for high performers. One of the leaders mentioned that this way of asynchronous problem-solving brought depth, breadth, and lightness to his job. He was able to go deeper into the problems, look at the solutions, and make informed decisions. In conclusion, the firm's platform offers valuable resources and tools for consultants and leaders to improve their work and retain top performers.
High Performers and the Play Processes
Companies need to focus on retaining high performers and fostering a culture of play, purpose, and potential. High performers are more likely to leave a company that is bureaucratic and dysfunctional, while non-high performers are more likely to stay due to the perks and benefits they receive. Millennials are more skeptical than ever about the value of work, and they tend to see it as a transactional decision. However, high performers know that work can be meaningful, important, and impactful. To help them realize this, companies should focus on fostering a culture of play, purpose, and potential.
The Genesis of Vega Factor
Lindsay explains that the firm’s journey began with researching what makes a high-performing company and culture. They wanted to understand if there was a quantitative, productive way to build a high-performing culture. They measured hundreds of factors from psychology and business best practices across thousands of people and hundreds of companies. They found that employees from companies like Home Depot and Lowe's answered questions differently, and that their performance management systems and leader behavior were also different.
The research was conducted through market research firms, where they found that employees from companies with similar systems answered questions differently. They also found that when the survey was administered internally by the company, there was a consistent increase in positivity, which they believe occurs because people don't trust the anonymity of their survey. The firm's website offers screenshots, interactive tools, and tips for implementation. They also provide links to download research.
Timestamps:
04:43 Using goal, health, and skill checks to improve company performance
09:35 Goal setting and performance, with a focus on problem-solving goals
13:04 Using AI to help teams work smarter, not harder, and improve team health through goal setting and problem-solving
17:40 Teamwork, motivation, and skill development in the workplace
23:30 Apprenticeship-based learning in consulting and remote work culture
28:50 Using AI to improve team performance and retain top performers
34:35 Motivating high performers and millennial employees through problem-solving processes
Links:
The website: https://www.factor.ai/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Dr. Ron Razmi discusses his book, AI Doctor: The Rise of Artificial Intelligence in Healthcare, which focuses on the applications of AI in various areas of healthcare. Ron talks about AI as a foundational technology that uses statistical methods to analyze data and understand its meaning. It can be applied to various areas, such as coding and documentation, and can create algorithms to analyze heartbeats and detect abnormal rhythms.
AI Use in Diagnostics
In diagnostics, AI can be helpful in analyzing clean structured data, such as radiology files from CAT scans or MRIs. AI can be trained to identify bleeding or abnormalities on these scans, but it must be trained on specific abnormalities. Currently, AI excels in radiology due to the digitized and structured data, but it's not as effective in narrative formats. Ron states that AI's applications in healthcare are vast and deep, and while it's still in its early stages, it has the potential to revolutionize various sectors, including healthcare.
AI Tools in Radiology and Triage
AI is increasingly being used in various fields, including radiology, dermatology, and sound AI. In radiology, AI tools are helping radiologists identify potential issues that might have been missed in traditional workflows. There are applications that read CAT scans for bleeding and stroke in acute settings, allowing radiologists to quickly identify and treat stroke patients. This helps in regaining function and ensuring patient recovery. AI can also aid in triage, prioritizing tasks based on urgency.
AI in Dermatology
In dermatology, AI applications can help diagnose skin lesions. Additionally, sonar technology can be used to monitor people's activity and detect falls. This passive data collection method allows AI to analyze the signals and take action, reducing the need for manual data entry and manual data input. This technology is particularly effective for elderly individuals who may not want to be monitored with cameras, as 50% of falls occur in the bathroom. This technology is particularly useful for those who prefer to stay home but still need constant monitoring, such as those in assisted or independent living facilities.
AI in Cardiology
In cardiology, AI tools can help read EKGs, which are crucial for diagnosing heart conditions. Historically, algorithms have been used to read EKGs, but they were often basic and inaccurate. AI has shown great promise in finding abnormalities on single lead data collection, as it can discern the rhythm of an EKG from a live core or smartphone application. This field-based data collection could significantly reduce the simple analytic and downstream work needed by clinicians in the medical staff.
AI in Therapeutics
AI takes action in therapeutics, such as providing assistance to patients with mental health issues. AI chatbots can interact with patients who need help and provide frontline assistance until they see a mental health professional. Generative AI has improved natural language processing capabilities, which has been a problem area for AI in healthcare due to the heavy use of medical jargon in doctor's notes. This will allow for more efficient interactions with healthcare consumers and better guidance in their care. However, there is still much work to be done in this promising area.
Technology and Medication Adherence in Healthcare
The conversation turns to medication adherence, which is a significant problem in healthcare. Long-term studies show that people who have had a heart attack are more likely to stay compliant with their medications, with the refill rate for statins being the highest documented rate. However, most people do not follow their prescription advice. Technology is part of the solution to this problem. AI technology can potentially analyze data and interact with patients at the appropriate moment to ensure they are aware of the needs, issues, and dates of medication use or the lack of, which is crucial in healthcare.
How AI Helps Doctors
AI applications in healthcare can help alleviate the burden of documentation work for physicians and nurses. One example is the use of AI in critical care settings, where doctors often spend time typing notes into the electronic health record, which can lead to missed information and negatively impact the quality of care. AI can also analyze conversations using natural language processing, which can identify the meaning of words and improve communication. For example, AI can listen to conversations and extract key elements that need to be documented, allowing doctors to focus on the patient and generate notes in their preferred format. AI can also perform downstream tasks, such as prescribing medication, making referrals, and creating prior authorization letters. This could save time for medical staff, preventing them from seeing more patients and making them less productive. Another use case could be for AI to assist nurses in creating notes for patients based on interaction with them, reducing the time spent documenting. This could make a significant difference in the quality of care and well-being since it allows medical professionals to focus on the patient instead of taking notes.
Evaluating AI Healthcare Applications
Ron’s book goes beyond cheerleading and emphasizes the business and clinical barriers to adoption. He talks about the importance of evaluating the business model of AI products or applications, considering the incentives of buyers and the potential for job loss or revenue reduction. As an investor, he suggests considering the pain points that AI could address, such as staff shortages and burnout, and how AI could help medical centers and pharmaceutical companies improve their clinical trials. Ron also discusses the importance of understanding the value proposition of AI products in medical settings. He shares his experience as an investor in the healthcare AI space, advising companies and funds on identifying great use cases and evaluating barriers. Ron recommends reading sources like healthcare AI digests, health tech news, and interviews with experts to stay informed about trends and the latest AI applications.
Timestamps:
04:00 AI applications in radiology and dermatology, including AI-assisted diagnosis and triage
10:54 Using AI to analyze passive data collection from sonar/radar in indoor environments for health monitoring, including fall detection and heart rate measurement
15:12 AI in healthcare, particularly in diagnostics and therapeutics
21:22 Using AI technology to improve medication adherence
26:40 AI applications in healthcare, including documentation assistance and quality of care
34:41 AI in healthcare, investment considerations, and product evaluation
39:44 AI in healthcare with a former doctor turned investor
Links:
LinkedIn: https://www.linkedin.com/in/ronald-m-razmi-md-2b55b8/
The Book: AI Doctor: The Rise of Artificial Intelligence in Healthcare
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
The Benefits of Somatics
Divya Agarwal, founder of Vivekam, explains what somatics is and what the benefits are. Somatics is a term used to describe body-based techniques that can be used with the body to build more body/mind awareness, manage emotions, and respond more effectively. These practices involve using techniques such as breathing, generating heat, and visualization practices to sense oneself better and improve self-awareness.
These practices can help individuals feel more connected to their emotions and be present in various situations, such as negotiations or job evaluations. Mindful presence, which has been emphasized in mainstream literature and coaching, is another way to be present. However, there is a growing trend towards using “embodiment” (the quality of being/feeling the body) as a way to enter presence. Some simply techniques to build embodiment involved breathing exercises, visualization exercises, and body scans.
Divya explains that somatics works at the nervous system level. Over time, these practices rewire the body and teach the nervous system to respond differently, making it easier to come into presence and calmness.
Building Embodiment with Somatics
Divya discusses the difference between exercise and somatics. She touches on the concept of embodiment, or being embodied, in relation to exercise. She believes that being in the body allows us to be more present and feel emotions such as anger, joy, anxiety, and fear and to manage those emotions. Divya states that the more we are embodied, the more we can be aware of emotions (since they show up as sensations in the body), and then choose how we respond with those emotions. Body-based techniques like breathing and visualization can help manage these emotions.
The science behind starts with some basics of the brain and nervous system. To keep it simply, understand three areas: the amygdala (base of brain, often called "the reptilian brain"), the sympathetic nervous system, and the parasympathetic nervous system. The sympathetic nervous system responds to reactive stimuli and triggers the amygdala into action (fight, flight, or freeze), while the parasympathetic nervous system allows us to be calm and relaxed. The goal of body-based techniques is to help us be in the parasympathetic mode more effectively and more easily.
The Parasympathetic Nervous System and Heart Variability Rate
Divya talks about the importance of the parasympathetic nervous system in maintaining a healthy balance and resilience. She mentions heart rate variability, which is a biomarker that reflects the variations in the amount of time between your heartbeats. The more variation your heart has, the higher your HRV. Higher heart rate variability indicates that the heart can have and manage different intervals of time. Those in the medical field will discuss how high HRV is good and indicates that there is balance in the nervous system between Sympathetic and Parasympathetic nervous system response. In short, high HRV is an indicator of someone's capacity to have higher resilience. The nervous system is connected to our whole body as a response mechanism to our outside world.
Practices to Improve the Parasympathetic Nervous System
Divya introduces three practices to build embodiment. The first practice involves rubbing hands together, focusing on the lower belly and noticing breath. The second practice is box breathing, which involves inhaling for a count of four, retaining the inhale, exhaling for your own count of four, and retaining at the “bottom of the exhale.” Over time, as one develops the capacity for expanded breathing, you may increase this to 4 in / 6 out, 6 in/ 8 out etc. She encourages reflection on what may be noticed during these practices. Divya states that it helps people remember their physical container around the mind and brings awareness of a deeper breath. She also mentions that shallow breathing, which involves inhaling and exhaling at the chest level, is not effective to bringing a parasympathetic response.
Divya also shares a meditation practice, focusing on the bones of the body.
Somatics Coaching Benefits
The conversation turns to the importance of paying attention to the body over time and the parasympathetic nervous system. Divya believes that each person has the right and responsibility to operate from a place of choice or knowing why they're doing what they're doing. This involves understanding and managing emotions, which can be challenging in professional environments. Body-based practices, such as somatics, help her clients slow down, be more present with themselves, and manage their emotions effectively. Divya explains how her coaching practices help her clients in a variety of common business situations.
Divya’s coaching practice focuses on different use cases, such as manager level professionals who have received feedback and are looking to improve their performance. She uses body-based practices and competency-based coaching to help individuals embody and emit a greater sense of calm and clarity. She believes that this calmness can lead to better outcomes, leadership, and communication with team members.
Timestamps:
07:25 Embodiment and body-based techniques for managing emotions and improving nervous system regulation
14:36 Heart rate variability and its connection to resilience, with exercises to improve HRV.
20:23 Breathing techniques for relaxation and mindfulness
25:43 Mindfulness techniques for executives to manage stress and stay centered
32:23 Body-based practices for self-awareness and emotional management
39:58 Using body-based practices for self-awareness and leadership development
Links:
LinkedIn: https://www.linkedin.com/in/divya-agarwal-co/
Read more on the business website: http://vivekam.co/
Learn more from this video on HRV: https://www.youtube.com/watch?v=KP3Bd7_25Oc
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Kathy Hines, former Chief Marketing Officer at brands like Dickies and Vice President at brands like North Face and Kipling ,shares her experiences. She started her career in career management consulting at Bain and later went on to Nike, where she gained foundational experience in lifestyle and sports marketing. At Kipling, she led marketing strategy and E-commerce. She then led marketing and strategy for the North Face in Europe. After a four-year stint in VF Europe, she returned to the US and took on the role of global chief marketing officer for Dickies in Texas, where she was also responsible for licensing. Her experience at VF has given her a broad range of skills and experiences.
Developing a Professional Marketing Plan
Using a sports and lifestyles brand as an example, Kathy shares her process for developing a professional marketing plan. She begins by identifying the brand's aligned corporate strategy and working closely with the leadership team to understand financials and operational opportunities. The team then collectively develops long-term objectives, such as being the leader in performance and lifestyle apparel across key markets.
For example, strategic choices include improving gross to net profits, targeting specific geographies, such as the UK, China, and the US, or focusing on elevating iconic products to consumers. The latter approach allows the brand to ensure it is the best in the world at that product. The marketing strategy should align with these strategic objectives and align with the brand foundations, which include the purpose of the brand, brand values, and brand personality.
The Importance of Brand Foundations
The brand foundations are essential for the marketing team to align on who they are and why they exist. These foundations include the brand purpose, the brand values, which define the brand, and the brand personality, which guides the direction of the brand in terms of the brand and design guidelines which are visual manifestations of the brand, while the tone document informs global communications, PR, and social media. The marketing plan should also include a clear vision for the brand, a clear mission statement, and a clear communication strategy. By focusing on these areas, the marketing team can create a comprehensive and effective marketing plan that aligns with the brand's long-term objectives and strategic choices.
Examples of Brand Purpose and Its Place in the Marketing Plan
Kathy shares several examples of brand purposes, including Kipling's brand purpose of making happy, and Napapijri’s brand purpose of Unlimit the Future. These examples demonstrate the power of brand purpose in shaping a company's identity and strategy. A marketing plan can be a singular page or a series of sub-chapters, with the brand purpose at the top. The purpose is the pinnacle of the brand, defining its values, personnel, and personality. Sub-chapters can include marketing-related details and strategic choices to align the brand foundations with corporate strategy. If the brand purpose is a one-page manifestation, subsequent pages can further explore the brand purpose, values, personality, and how these factors inform communications in PR, social media, and ecommerce. These drill-downs are crucial for ensuring alignment with the brand's overall vision and strategy.
Segmentation in Marketing
Kathy discusses the importance of segmentation in marketing, stating that while it is important to understand a brand's core consumer base, it is also crucial to consider the potential of the audience and the growth of that audience. For example, if a brand is rooted in an extreme sport, and the core consumer is an extreme athlete, branching out from there to less extreme athletes who do not compete, or a consumer who is inspired by the sport can help unlock and grow the brand by connecting the core consumer to concentric circles that ripple out from the center.
Price Strategies in Marketing
Price strategy is another important aspect of marketing, often set by the product team. However, when a brand has a multi-geographic product, it can lead to price and brand differences as well disruption to brand cohesion. To address this issue, a cross-functional team from product design, merchandising, marketing, and leadership teams should conduct a full pricing study to understand the brand's potential. In ecommerce, it is essential to be cautious about discounting the product to maintain a healthy, profitable business. Ecommerce growth often drives top line sales through occasional sales, but if the product is discounted, the rest of the market will follow, making the brand less profitable and less desirable. Full price sell-through is another key metric for identifying a strong brand. This indicates that a significant percentage of the product is selling through at full price without any discounts, which is a strong indication of brand health and helps avoid market degradation.
The Importance of Monitoring Metrics
Kathy emphasizes the importance of clear tracking of KPIs and simple KPIs and to collect data that can be informative. One favorite metric for brands is Google brand interest, which is an intuitive index measuring search volume for the brand. By tracking this consistently, businesses can see whether interest is increasing or decreasing, which is important for understanding brand health. Additionally, tracking global brand interest allows for a more accurate understanding of geographic differences. A regression analysis from Google suggests that increased consistent increase in Google brand interest is directly tied to increased sales for the brand. Brand engagement is also important in social channels, as high engagement indicates people are interested in the content being posted. Full price sell-through is another key indicator of a brand's success. Lastly, tracking direct-to-consumer offerings through ecommerce or retail can help determine if the customer base is growing or if there is a growing number of opt-ins to communication. By focusing on net new people, businesses can ensure their total pie of customers grows each month. Kathy mentions that the degree to which a marketing technology stack is included in a marketing plan depends on the brand's unique circumstances and the technology partner team.
Strategic Partnerships in Marketing
Strategic partnerships can manifest in various ways, such as collaborations with emerging designers, faster go-to-market processes, agency partners, and effective partnerships with wholesale retailers. Agency partners, if treated as an authentic member of the team, can be magical. By addressing these partnerships in a comprehensive and effective manner, brands can create unique and valuable products and experiences.
Blu Moon Marketing
Kathy’s company focuses on three areas: private equity portfolio companies, consulting companies, and public and private companies. She assists in due diligence, diagnostic phase, and client work for private equity funds. Her company also provides additional support to consulting companies by assisting with pitches and client work. They also offer project-based support for public and private companies, focusing on business strategy, marketing strategy, segmentation, go-to-market strategy, budget analysis, and design.
Timestamps:
04:01 Business strategy and marketing plan development
08:58 Brand purpose, values, and personality for various companies
13:28 Brand segmentation and its importance in growing a brand
20:17 Pricing strategies and metrics for brand health
25:25 Tracking KPIs for brands using Google brand interest, social media engagement, full price sell through, and customer base growth
30:09 Marketing strategies and partnerships
Links:
LinkedIn: https://www.linkedin.com/in/kathy-hines-1194851/?originalSubdomain=uk
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Dimitris Samouris discusses the development of a tool called Junior, an SaaS tool built on large language models and speech to text models. It leverages AI to help process primary research workstreams, particularly in the due diligence process, especially for primary interviews.
How Junior Works - A SaaS Tool to Clean Transcripts
Junior helps automate a significant portion of the administrative tasks associated with research execution, allowing users to focus more on the big picture answer rather than the execution side of things. The tool provides a highly accurate transcript of each call, including the name, segment, company, customer size, date and time of the interview, call status, and review status. The call tracker is a knowledge repository that displays the names, segments, job title, company, customer size, country, date and time of the interview, call status, and review status. The call screen is a customizable project management tool for running the call workstream. Junior has three parts: a call drawer, which has three parts: verbatim transcript, clean transcript, and audio file backup. The first step is to chunking the verbatim transcript into relevant question and answer pairs, then cleaning those pairs for colloquialisms and repetition interruptions. This process typically strips out about half of the text in the verbatim transcript, making it more digestible.
The Benefits of Using Junior - Workflow Tools for Consultants
Junior allows users to create a clean transcript of a call and then convert it into a call summary. The tool has two components: a stats box that extracts every numerical data point referenced in the call and stores it in one place for review after the call, and a set of key takeaways that are AI-generated summaries of the key points of the call. The tool leverages information from the beginning of a project, such as a scope document or interview guide, to help guide the summary. The tool also offers workflow tools specifically designed for the consulting industry to help get to the slide output faster. One of the main features is Ctrl. F. This feature helps users find relevant quotes and questions related to the topic, such as contract structure, pricing, implementation, and renewal processes. This feature is particularly useful for human consultants who may struggle to trace quotes due to sanitization or paraphrasing issues. An AI native spreadsheet table automates data input for questions that need to be tracked systematically across research or used in market models. It allows users to set up questions and track transcripts, with the source information attached for verification. The data is exportable into Excel for further analysis. Junior also has a chatbot that handles transcripts for consulting and investment research use cases. It produces structured answers with evidence attached to each argument, providing a comprehensive data access and customization tool.
Pricing and Signup for Junior
The presentation also touches on the pricing and signup process for clients, including six of the top 10 consulting firms, boutiques, and private equity funds. The pricing is $100 per transcript, which typically gets billed back to the client as part of the research expenditure along with the extra networks used to source calls. Overall, the presentation emphasizes the importance of auditability and traceability when using Gen AI tools in procurement research. Junior saves time on analysis and synthesis for clients who are already paying for interviews on big alpha sites or GLG. The tool is priced at an extra 100 dollars per interview, but it can be refunded back to the client. The signup process involves reaching out to the company, who spin up a new instance for each user due to data security concerns. The platform can be set up within a day of reaching out.
Timestamps:
01:02 Using AI to automate due diligence process, including transcription and summarization of calls.
05:53 Using AI to summarize and analyze audio calls for consulting industry research
09:02 Ctrl F functions
12:57 AI-powered tool for analyzing audio interviews and providing structured insights
14:26: SWOT analysis capabilities
Links:
Email: Dimitris@myjunior.ai
Website: https://www.myjunior.ai/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
In this episode of Unleashed, Ran Harpaz, founder of Lettuce, discusses the importance of an automated tax and accounting system for businesses and that Lettuce is entirely focused on independent consultants. Independent consultants who make over $100,000 per year often overpay their taxes by $10,000 or more. Lettuce is a FinTech software company that helps these professionals incorporate their business into the right S corporation with the IRS, open a business bank account, run bookkeeping, run accounting, predict and file taxes, all done automatically through software. The company offers two levels: Pro (300 dollars a month) and Premium (700 dollars a month). The service includes accounting, bookkeeping, tax preparation, and tax preparation.
Tax Strategies for the Independent Consultants
Ran explains how many independent consultants are often double taxed as sole proprietors due to the IRS's coordination on annual tax returns. He offers an example to demonstrate how this works. Ran also discusses the concept of an S Corp and its implications for tax calculations.
He mentions that Lettuce exists as a software solution that does this daily on every dollar, as income fluctuates throughout the year. This automated solution monitors every payment, calculates and withholds the right amount automatically, and keeps the balance to the IRS constantly close to zero. The S Corp also offers more advanced tax strategies, such as retirement matching, qualified business income deductions, and better healthcare premium payments. Once an S Corp is established, it can unlock all the tax strategies typically available to corporations. The tax system and everything around it are well optimized for corporations, and larger organizations have a finance department, FEMA, and tax experts. While the savings on Social Security and Medicare may be capped, other benefits like retirement and healthcare premium payments open up once an S Corp is established.
Using Retirement Plans as a Tax Strategy
Ran discusses the advantages of using retirement plans as a tax strategy for individuals, particularly those with limited liability companies (LLCs). They mention that having an SEP IRA or a defined benefit plan can provide tax-free income, but it also comes with higher limits. The speaker emphasizes that this becomes a multivariable optimization problem, as individuals may want to save more through retirement, allocate more to Social Security, optimize for salary distribution, maximize expenses, and consider factors like business use of home and mileage.
He suggests that these tax strategies should be solved by software products rather than human efforts. He explains that Lettuce is a replacement for QuickBooks accounting bookkeeping packages. Instead of having multiple software solutions, Lettuce provides a single solution that includes incorporating LLCs, making S corp elections, running books, opening a dedicated bank account, and managing payroll processing.
How Lettuce Offers Tax Accounting Solutions
Ran also mentions that Lettuce can handle payroll for individuals who hire employees. They focus on serving businesses of one owner, as they are the essence of the business. The free business bank account is provided by TransPecos Bank, a Texas bank, FDIC insured, and provides the infrastructure for keeping money safe.The company is offering accounting and bookkeeping software that helps with automating quarterly taxes, which are a requirement for people. The software handles complex tasks such as forecasting, withholding the right amount, filing, and payment. It also handles complex transactions like multiple jurisdictions or income from Canada. The company has partnered with a CPA company to serve their specific market segment, offering additional services when needed. This includes offshore investments and rollovers from past investments. The company is also working on rolling out an AI accountant to answer customers' questions 24/7. They are training and fine-tuning the AI engine on specific tax code areas, providing answers as good as human but faster. The AI will be released in the next couple of months, and the company expects to receive positive feedback from users who want guidance and information without having to call a CPA.
Timestamps:
03:45 Tax savings for independent consultants
09:39 Tax strategies for small business owners
17:44 Financial management and accounting software for independent professionals
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Salah Zalatimo, former Chief Digital Officer at Forbes, discusses the history of magazines and digital transformation. Magazines have been around for a while, with many well-known brands being founded around 100 years ago. Technological innovations have enabled new businesses to launch, such as the Direct to Consumer (DTC) boom and the cheaper printing costs around the turn of the last century.
A Short History of the Magazine Industry
Salah talks about the background of Forbes, which was launched around the Great Depression, and goes on to why the magazine industry was much like VC Investing today, and how it changed with the advent of the internet. The tension between maintaining journalistic integrity and separation was a challenge. However, the internet revolutionized the way magazines operated, leading to many magazines going out of business in the past 20 years.
Integration with the Digital Media Space
Salah started his career in 2001, drawn to the digital media space after experiencing the first broadband connection and discovering Napster and music. When he arrived at Forbes, he found it to be one of the few companies that successfully adapted to these new business models. Forbes had more traffic and audience than any other magazine and competed with some of the largest information and news websites in the world. He joined Forbes in 2016 and discovered that their adaptation to the new business model was kind of outside their capabilities. Forbes adopted a new business model in 2016 when they acquired True Slant, a platform that allowed writers to write articles and receive a revenue share on the content. This aligned the incentives of all stakeholders in the content creation process, with writers and publishers trying to generate more revenue and being paid based on the success of the content. Forbes adapted this business model to their own newsroom, increasing their content production and SEO significantly.
How Forbes Maintained Zero Liability
The Google algorithm, which was maturing at the time, was a link-sharing system, making it difficult to lose a lead in SEO. Forbes was one of the first companies to dramatically increase their content production and SEO, leaving everyone behind. This led to a virtuous cycle where writers had their own social media accounts and audiences, which added to putting Forbes ahead of the curve in terms of adaptation. However, content production still operated as a newsroom, and digital transformation was needed to adapt the business model. Salah explains why tension arose between traditional journalists and freelance journalists and how Forbes maintained zero liability for user-generated content..
Problems Facing The Digital Media Business Model
The digital media business model is facing a number of problems, including misaligned incentives and the need for a more efficient business model. Digital advertising is the primary way to monetize the media today, and traditional newsrooms focus on journalistic excellence and fact-checking. Salah explains how Forbes addressed this issue which incentivized writers to optimize their content for new distribution channels like Google and Facebook. This led to a dramatic change in the way Forbes worked and enabled them to grow.
Challenges Managing Freelance Writers
The newsroom faced challenges in managing freelance writers and managing quotas, which created stress. As a technologist, it was clear to Salah that many of these tasks could be simplified, automated, and made more consistent and flexible. To improve processes and outcomes, the company looked at the publishing platform as an opportunity. WordPress, the most widely used platform, is meant for smaller publications, and it couldn’t handle the volume of Forbes. By aligning incentives and improving processes, Forbes was able to grow and thrive in a time when other digital media companies were either losing money or going sideways.
How Forbes’ Platform Was Improved
To improve the platform, Forbes evaluated various third-party options and found that there were many components available in the market that could be customized and further developed for their platform. They considered AI and automation machine learning. To gather insights, Forbes hired data scientists to analyze content performance and identify patterns. They discovered that certain headline words had a 40% higher ranking in Google than comparable synonyms, and placing images after the first paragraph dramatically increased completion rates. They also developed a proprietary viral early warning system called views, which could predict with 95% accuracy whether an article would go viral within the first 15 minutes of publication.
Publisher Challenges
One of the biggest challenges faced by publishers is first-party data collection, which is crucial for their success. Forbes didn't have any connection between the different platforms and sharing, Salah explains how they overcame this issue and what the signifiers are of a post going viral. The impact of this was dramatic and clear, as Forbes could create bots that automatically posted content to social media platforms based on these patterns. This allowed Forbes to focus on the highest likelihood of success articles and increase throughput on social media accounts for specific topics.
The New Publishing Platform, Birdie
Salah discusses the development of a new publishing platform called Birdie, which introduced machine learning and AI tools to improve the quality and reach of writers' content. The platform was named after BC Forbes, the founder of Forbes. The AI elements in Birdie included a headline score, article length optimization, image placement, and content complexity. However, the first version of the platform was not well-received by the newsroom. To address this, the team tried to integrate the AI tools in a more fluid way, using a push button system where users could request suggestions for headlines. This allowed writers to feel more empowered and better at their jobs. Birdie's digital transformation was an efficient way to manage writers, build quotas and KPIs into the platform, and receive suggestions and reminders. This eliminated the need for manual intervention and improved the reach of pieces.
Salah emphasizes the importance of maintaining the human element of the digital transformation process. He believes that it is not just about optimizing how something is written but also changing someone's livelihood and something they have been doing for a long time. Maintaining the human element and coming at it from an empathetic standpoint would have allowed for faster progress and saved stress.
In conclusion, Salah Zalatimo advises companies tackling similar digital transformations to lean into the people they will be affecting early on, consider the words used and the choice of words, and consider the AI powered versus AI assisted versus AI enabled aspects.
Timestamps:
02:07 Digital transformation in the magazine industry
07:13 The history of magazines and their adaptation to technological changes
13:04 Forbes' successful adaptation to digital media
18:52 Forbes' digital transformation and content creation model
23:49 Digital transformation in a newsroom
29:23 Improving Forbes' publishing platform using AI and automation
34:36 AI-powered content creation and viral prediction at Forbes
40:09 Implementing AI tools in a newsroom with empathy for writers
Links:
https://www.ooblek.xyz/
https://www.linkedin.com/in/zalatimo/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
In this discussion, Will Bachman interviews Henry Oliver, author of the forthcoming book Second Act about late bloomers. Oliver has a background in English literature and marketing. He worked for an MP and later in employment marketing.
Defining a Late Bloomer
Henry’s interest in late bloomers came from his work in employment marketing, and during his research, he found a wealth of talent in an older demographic. During the course of his research, he found that cognitive ability is the number one predictor of job performance regardless of age. A late bloomer is someone who is no longer expected to achieve anything significant. However, Henry states that many people start a successful career late in life. Henry’s book is structured as a series of short biographical sketches that illustrate themes such as the right people, networks, influence, being at the right place, the right time, and meandering career paths that many high profile leaders, including Margaret Thatcher, are prime examples of the late bloomer.
The Focus on the Book
His decision to focus more on the biographical sketch approach was influenced by his background as an A talent and employment brand consultant. He believes that the book should be focused on more than just the social science approach, as it allows him to explore the complexity of life. The concept of inefficient preparation, as discussed by Henry, is a concept that has been gaining attention in recent years, especially with the emergence of AI. He talks about the meandering career path of Calvin Coolidge. He explains that many people are considering how to prepare for different careers. However, he emphasized that this approach is not necessarily always the best career strategy, as it can lead to inefficient outcomes. One example of this is Dwight Eisenhower, who was a young soldier during World War One and was kept in America to train on tanks. Despite the shrinking army and the lack of pay at the end of the war, Eisenhower continued to study military strategy and find mentors, which eventually paid off with the advent of World War Two. Henry mentions that many people have a meandering inefficiency in their careers, and if they can find a way to switch into a more challenging job, it can pay off well. This combination of a wait-and-see approach and serious planning can help individuals make the most of their time and achieve their career goals.
How to Make Networking Work
Henry talks about the problem of focusing on building a network and why it’s important to find the person with the right influence for whatever it is you want to do right now. He shares an example of this with the story of Margaret Thatcher’s leadership election in the conservative party. Henry discusses the importance of corporate culture in shaping one's career trajectory, and how the culture helps or hinders how you work. He cites studies of young men sent to the Second World War. The study found that a more ambitious, fast-paced environment with strong leadership and opportunities for development can lead to better performance. He also talks about the detrimental effects of a toxic environment. The discussion turns to putting yourself in the right place in today’s work environment. The most fundamental piece of research that Henry found is about hot streaks, where people produce their best work over a long period of time.The study found that people have an explorer phase, where they try out different ideas and move around the world. This is followed by the exploit period when they take action to take steps connected to their primary interest. In today's world, there are no universally-accepted answers to what constitutes an "exploit phase." It depends on the individual's career goals and the circumstances they are in. Steve Jobs, for example, was an example of someone who dropped out of various fields to pursue what eventually became Apple.
The Importance of Exploration and Perseverance in Career
The book emphasizes the importance of active exploration and perseverance over a sustained period. It emphasizes that people cannot simply move to a new location and hope for success. Instead, active exploration involves attending social events, meeting people, and participating in self-study programs. Second acts involve investing in self-improvement or relationships. Henry emphasizes the importance of live practice and building skills, which can be broad and involve socializing, learning, and networking. He suggests that the rule of 10,000 hours of deliberate exploration should be expanded to include practicing in new areas, including networking and meeting new people. He also believes that it is essential to be prepared to take opportunities. Henry talks about the importance of right timing and the concept of increasing your luck surface area. He gives the example of Ray Kroc who turned McDonald's into the biggest business in the world. At 53, he was a milkshake mixer salesman at McDonald's when he discovered a small family restaurant that had perfected the fast food kitchen. Henry explains how Ray Kroc increased his luck surface area to turn a family business into an international franchise.
Why Extraordinary People are Good Examples
While his book presents examples from extraordinary individuals, Henry believes that the lessons drawn from social science and famous figures can be applied to people of all levels. He stresses the importance of understanding the details of these individuals, such as Vera Wang's story, which highlights her personal struggles and the need for encouragement. Henry states that the internet is full of stories of late bloomers, but they often do not provide a detailed account of how they achieve their success. While his book does offer examples of ordinary people who have achieved their second act career, he believes that digging into larger examples can provide a deeper understanding of how late bloomers work and how they achieve their goals. Henry has been focusing on the social science side of human interaction over the past decade. He has been researching and writing about network science, sociology, economics, and psychology to understand how someone can transition from a hack journalist to the creator of the dictionary. He was surprised by the importance of networks and how being in the right group of people can make a huge difference.
A Word or Two on Writing Motivation
Henry talks about the inspiration and researching information for his book. His motivation for writing is to provide a platform where people can read great works and benefit from them. He believes that reading literature not only helps in understanding human interaction but also helps in understanding power dynamics and ambition. For example, he believes that Jane Austen's novels, like Emma, can be useful for understanding human interaction in modern office life. Henry's substack Common Reader, which includes literature, brings in other topics to help readers better understand human interaction and decision-making. He believes that reading Shakespeare can be useful for questions of power, ambition, and leadership. Henry discusses the importance of having a sub-stack for writing and how it can generate more ideas as you read.
Timestamps:
04:04 Career development and the concept of late bloomers
10:59 Building meaningful networks and finding influential connections
16:44 The importance of influence and being in the right environment for success
22:55 Career development and finding one's passion
28:10 The importance of deliberate exploration for personal growth and development
32:16 Luck, opportunity, and success
37:44 Late bloomers and their inspiring stories
44:58 Literature and its relevance to modern life
48:45 Late bloomers, talent, and career development
Links:
The Book Second Act: What Late Bloomers Can Tell You About Success and Reinventing Your Life
Twitter https://twitter.com/HenryEOliver
LinkedIn https://www.linkedin.com/in/henry-oliver-5165b189/
Substack https://www.commonreader.co.uk/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes
Craig Callé talks about third party risk management (TPRM), with an emphasis on cybersecurity. TPRM is a subset of Governance Risk and Compliance (GRC), which aims to help organizations achieve their objectives, address uncertainties, and act with integrity. TPRM is crucial as over half of all data breaches occur through insecure third parties. Companies need to understand their third party relationships and monitor them more carefully, which requires a variety of tools and processes. Craig explains that TPRM can cover a variety of risks, including cybersecurity, but also financial viability, compliance with privacy, sanctions and other regulations, reputation management, supply chain issues, and alignment of ESG and sustainability objectives.
Defining GRC and Third Parties
Craig explains that GRC is a broad category that includes TPRM, but also enterprise risk management (ERM), business continuity or operational resilience, policy management, controls compliance, privacy and ESG. ERM typically includes a risk register, which compiles all the potential threats that can affect a company, and it is crucial to building a more predictable and measurable system to achieve its objectives at the lowest possible risk.
He mentions that the term “third parties” should include not just vendors and suppliers, but also often overlooked entities such as outsourced service providers, software as a service (SaaS) apps, cloud hosts, contractors, ecosystem partners, technology partners, and financial counterparties.
GRC Frameworks
He mentions that a lot of the governance aspect of GRC work involves picking a suitable framework and building a program around it. For example, in cybersecurity, a popular standards body would be NIST, and he mentions a few others that give leaders a roadmap apropos to achieving high standards of operation.
Organizational Relationships
The head of GRC is responsible for ensuring that the organization operates within its control frameworks. For example, in a Fortune 500 company, the executive responsible for GRC might report to a Chief Risk Officer, if there is one, with a dotted line to the board audit and risk committee.
Since many TPRM programs have an exclusive focus of cybersecurity risk, the head of TPRM often reports to the Chief Information Security Officer (CISO).
Third Party Risk Management Responsibilities
The head of third party risk management is responsible for several processes, such as onboarding new third parties, periodic audits, ongoing real-time monitoring, reporting functions, and investigating and dealing with incidents and responses. However, the responsibilities depend on the organization’s level of maturity and the complexity of the process. Craig offers a few examples to clarify the complexities that have to be taken into consideration, including the fact that risk management processes can be seen as blockers, and additionally, offers a tip on how to overcome this issue.
Software for Third Party Risk Management
Craig talks about the importance of selecting the right software for clients, highlighting the pros and cons of a best of breed approach versus a multi-module suite. Craig mentions examples of TPRM workflow automation platforms, including ProcessUnity, MetricStream, ServiceNow, LogicGate, BitSight, and many others. These platforms facilitate questionnaires and other assessments issuance, response review, routing of issues to specific people or groups within an organization, risk scoring and reporting to stakeholders.
Cyber risk ratings, which have been around for over 10 years, are now a natural complement to workflow platforms. Ratings provide objective data that help triage the community of third parties by quantifying vulnerability to data breaches. They provide easy-to-digest results that don’t require an IT certification to understand, based on FICO-like scores or letter grades.
He explains that companies may want to share data across modules, although some organizations can be siloed and don’t realize opportunities to collaborate. For example, if a company has both privacy management and TPRM software, there is a natural logic to connect the data map required by privacy regulations to the third parties that might hold customer data. He also emphasizes the need for an advisor to understand the customers’ problems and inherited solutions, as well as the timeframe and budget constraints. Ripping and replacing existing solutions is rarely feasible and desirable.
AI has become an important tool for parsing through voluminous data to identify critical facts, although human involvement remains an essential element in the process.
Predicting Improvements in TPRM
Craig believes that over the next decade, the focus of third party risk management will involve high-level orchestration across CISOs, risk officers, and procurement people, perhaps led by what he calls a Chief Third Party Officer, or CTPO, leading to a more comprehensive view of not just risk, but also third party performance. He thinks third parties deserve the same level of scrutiny that a Chief HR Officer would apply to employees and job candidates.
Timestamps:
05:15 Third-party risk management and GRC
11:57 GRC roles and responsibilities in a Fortune 500 company
16:10 Third-party risk management processes and responsibilities
21:59 Third-party risk management software and techniques
27:26 Third-party risk management and platform automation
32:21 GRC and third-party risk management
Links:
Company Website: https://sourcecalle.com/
LinkedIn: https://www.linkedin.com/in/craigcalle/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
In this conversation with Will Bachman, Ivan Oransky, a co-founder of Retraction Watch, shares his experience as a medical journalist and with Retraction Watch. Ivan explains that his friend and co-founder, Adam Marcus had uncovered a massive story about scientific fraud in Western Massachusetts, where an anesthesiologist had made up all clinical data. Adam, who was managing editor of an publication called Anesthesiology News got the scoop on the story, and Ivan, who was impressed with the story, suggested they start a blog about retraction notices, it turned out there were far more happening than previously thought. 13 and a half years later, Retraction Watch is still going strong and has a large audience. Adam and Ivan are volunteers but have four staff two of whom run a database of retractions that was recently acquired by CrossRef, a nonprofit that tracks scientific data and papers. The other two staff continue to contribute to the journalism work they started 13 and a half years ago, while Ivan and Adam still supervisor edit and direct it.
How to Evaluate an Article
Ivan shares his advice on how to evaluate an article in a medical journal or any published article. He emphasizes the importance of showing one's work and examining the evidence used to reach a conclusion. He explains that, when looking at articles, it is crucial to consider the original sources, citations, and the journal's track record of quality. He also emphasizes the importance of humility in making claims and not making pronouncements about things he or she doesn't know anything about. He also warns against trusting credentials to suggest expertise, as it can be misleading, Ivan shares the example of a time when he was asked to peer review papers about COVID-19, simply because he had co-authored a letter about retractions of work. However, he is not an expert on the subject. Ivan believes that an expert should only be asked to peer review papers that they believe are likely to hold up or should not be published.
Leading Causes of Retraction
Ivan explains that factors that commonly lead to a retraction. Two-thirds of retractions are for misconduct. This number is consistent across various works and he goes on to explain that there are several definitions of misconduct to take into consideration, including fabrication, falsification, and plagiarism. About 20 percent of the time, it’s due to a what’s known as honest error, and Ivan offers a few examples.
The deeper cause is the requirement that researchers must publish in certain places to get a job in academia, tenure, promotion, and prizes. This drives people to do all sorts of things, and while this drives most people to work harder and try to work more efficiently, others may take a different approach. In fact, Ivan states that 2 percent of researchers admit to committing misconduct.
The Replication Crisis
Ivan talks about the replication crisis, which has been a topic of interest in the social sciences and hard sciences. When Retraction Watch was first launched, there were about 400 retractions from journals a year. Last year, there were more than 10,000, a big increase despite the rising number of papers published. The root cause of this issue is the same problem: replications are not new research or findings and should be cherished and prized, but they are not. Big journals don't like to publish replications, so they don't reward new research. To get into a big journal, researchers need to publish new research, which is simple behavioral incentive economics.
The discussion turns to incentives for people to write about scientific misconduct and fraud. Ivan states that, while there is more incentive not to write retractions, he cites a page on Retraction Watch that has dozens of stories from people committed to revealing issues with research, including well-known figures. These individuals face legal risks, such as lawsuits, and are usually not paid for this work.
The conversation also touches on the potential negative repercussions of challenging senior professionals in their field, such as professors or presidents of universities. However, most of these individuals do not work in science anymore, or their career trajectory is not dependent on pleasing or failing to displease senior members of academia. These individuals often publish on sites like PubPeer, which allows users to leave comments on published studies. This helps expose the issues and claims in the media, helping to raise awareness and support for those who need help.
Retraction Watch offers resources and social media platforms for those interested in learning more about the topic. They welcome feedback and story tips, and they are open to sharing more information about their work.
Timestamps:
01:03 Scientific fraud and retractions
04:41 Evaluating credibility in scientific articles and peer review
09:10 Research retractions and the root causes
13:05 Replication crisis in science and the challenges faced by those uncovering fraud
17:18 Academic misconduct and whistleblowers
Links:
Website: https://retractionwatch.com/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Melanie Espeland, a TEDx speaker and executive coach with 17 years of experience in strategy, operations, and coaching, she’s former McKinsey, and in this episode, she discusses the importance of executive presence and how to achieve it.
Communication in Executive Presence
In this workshop, Melanie explains that executive presence is important because it provides access to insider discussions, meetings, events, and happy hours. Access is crucial for success, and influence is essential for those with a purpose or vision. Executive presence allows for a balance and integration of power, authority, respect, trust, warmth, and likability.
Melanie also discusses the concept of compassionate authority, which she sees as a combination of power, authority, respect, trust, warmth, and comfort with the people you are speaking with. This external communication and ability to share thoughts and feelings are key to achieving executive presence. By understanding the value of executive presence and its impact on success, individuals can better navigate their roles and achieve their goals. Melanie explains that executive presence is a complex concept that varies across different personalities and people. There is no one-size-fits-all formula for expressing presence, as there are different ways of expressing it. Steve Jobs and Michelle Obama are examples of individuals with different styles, each with their own unique qualities. However, there are common threads or levers in executive presence that can help individuals build their personal and professional style that aligns with their strengths and personality.
Building Executive Presence
A structured approach to building executive presence consists of two pillars: the literal (physical, tangible) and the figurative (mental, emotional). Under each pillar, there are three common threads or levers: voice, body, and appearance. Voice refers to the speaker's voice, verbal communication, body language, posture, and physical presence. Body language, posture, and physical presence are also crucial. Application is the first impression, and it is important to consider how our appearance may impact our professional image and relationships. By understanding these common threads and levers, individuals can develop a unique and authentic executive presence style that aligns with their strengths and personality. The figurative pillar of executive presence is relevant for mid to senior level professionals as they move up the ladder. Authenticity, confidence, and vision are important for connecting with others and understanding one's strengths, weaknesses, wants, intentions, and motivations. Authenticity is crucial for connecting with others and making them feel comfortable. Confidence is different, as it involves feeling confident in oneself and being clear on one's goals. Vision is crucial for building an executive presence, especially as you get more senior.
Effective Communication for a Large Audience
To communicate effectively in large audiences, it is essential to understand media skills, such as how to talk to the media and communicate ideas consistently and coherently. As you become more senior, you will be thrown into meetings and need to control what people leave with. These six common threads or levers of executive presence can be divided into two pillars. By measuring up in these areas, you can identify areas where you have more opportunity. Exercises can be done together to practice these skills at home, starting with voice and body exercises. By focusing on these areas, you can develop new skills and improve your executive presence.
How to Improve Verbal Communication
Melanie discusses the importance of voice and body verbal and nonverbal communication in executive presence. One technique that often surprises people is tongue placement exercises. She believes that the body is an instrument that needs to be controlled, rather than controlled by it. They encourage participants to try these exercises at home and see if they stick better after practicing with them. Tongue placement exercises help improve diction, projection, and warmth in speech. For example, in American English, the tongue tends to be in the middle, which can lead to a more accurate and clear voice. This is particularly beneficial for those who may be uncomfortable with their accent or question their pronunciation. Projection is the distance sound travels from the mouth, which is different from volume. This helps give the voice gravitas and resonance, giving it authority and warmth. Melanie provides various exercises that can improve diction.
In conclusion, voice and body exercises are essential for improving verbal and nonverbal communication. By practicing tongue placement exercises, individuals can gain a deeper understanding of their voice and body, ultimately leading to improved communication and overall performance.
Breathwork for Executive Presence
Breathing is crucial for a great voice and overall executive presence. Proper breathing is essential for delivering sound effectively and enhancing one's overall appearance. To achieve this, it is essential to focus on two aspects: maintaining proper breathing and mouth position during speaking. Filler words, which can be annoying or insincere, can be a common issue. To avoid these, it is essential to have more air coming in and out of the body, allowing for more air to be absorbed and not gasping for air. Melanie explains breathing exercises that help individuals can develop a better understanding of their breathing and voice, ultimately improving their overall communication and overall presence. She emphasizes the importance of proper breathing in order to maintain powerful, engaged, and present speech. T
The speaker encourages practicing this exercise at home, aiming to breathe in through the nose on 123 counts. If the exhale is short or uncomfortable, it may indicate that the speaker needs to work on their breathing technique. This can be likened to going to the gym to train your body..
Understanding the Confidence Flywheel
To gain more confidence, it is essential to have a sense of ease within oneself. People who have presence tend to appear grounded and confident, having clarity and ease about their actions. To achieve this, one can trick their physicality into ease, which affects their mental and emotional state. Techniques like breathing techniques can help reduce cortisol, heartbeat, and adrenaline, making the body think they are at ease. This change in mental and emotional state leads to increased confidence. The confidence flywheel can be used to showcase confidence, which in turn uplifts the confidence of the audience. The more confidence the audience has in you, the more confident your audience will be in you. However, the flywheel can also go in the opposite direction, making you appear nervous or unsure, which can lead to subconscious feedback and doubt.
Tricking the Body into Confidence
Melanie discusses the concept of tricking your body into confidence and using code words to trick your brain into bringing up past feelings or emotions in the present tense. This exercise involves thinking about a specific experience where you felt grounded or at ease, and thinking about your life as if it were a movie with a screenshot of that moment. The exercise involves walking through all five senses, including sight, smell, taste, hearing, and touch. Write down this information and create a code word cheat sheet for future reference. Once the memory is created, name it or give it a name, such as "Thailand." When applying the exercise in real time, remember the code word and the feeling of being at ease. The more specific the code word, the more powerful it will be. It's important to have nuanced language in your speech to avoid overtaking the activity or presentation. Try using different code words or memories for the same feelings, and record yourself on Zoom or with a partner or friend to see how it works.
An additional tool for using code words leading into confidence is using physical objects that remind you of the code word. For example, a cool stone on the beach can be placed on your desk, in your hand, or in your pocket before a big presentation. Pictures can also be helpful in remembering a day.
Pacing for Public Speaking
Melanie discusses the importance of pacing in speaking, particularly when someone is nervous. This can be achieved by having water next to you, as it is an elegant way to pause and recalibrate yourself. Breathing exercises can help slow down speech speed, as people often use filler words or keep talking quickly. Breathing exercises can also help slow down speech by taking deep breaths while taking a sip of water. To slow down, she encourages reading slowly and even more slowly than usual. This allows the body and mind to connect and understand that they can speak more slowly. Recording yourself reading at different speeds and practicing at different times can help determine the best pacing for your speech. Lastly, Melanie suggests verbally numbering points to help your audience follow along. For example, if you have three points to make, you can use data to make it easier for your audience to understand what you're trying to say. This helps give your audience a structure to follow along.
Melanie moves on to share certain techniques to communicate well with others, including how to politely interrupt, how to indicate engagement, dealing with verbal fillers, and how to encourage conversation. This is followed by a Q&A session.
Timestamps:
01:23 Executive presence and communication skills
04:43 Executive presence and its components
10:24 Building executive presence through voice and body exercises
16:16 Improving English pronunciation with tongue placement
18:41 Tongue placement for clear speech
24:39 Proper breathing techniques for clear communication
30:06 Proper breathing techniques for clear communication
35:03 Voice and body exercises for executive presence and confidence
37:43 Using ease and code words to boost confidence
43:07 Using code words to enhance memory and relaxation
47:09 Using physical objects for memory recall
49:43 Speeding up speech and managing pace
Links:
Website: https://www.melaniesespeland.com/
Website: https://espelandenterprises.com/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
In this episode of Unleashed, Alex Brueckmann discusses the concept of strategy and its importance in business. Alex states that strategy is defined as a set of integrated choices made to win in a chosen marketplace. It is not just about playing the game, but about creating value that convinces or influences customers to buy from the company. A good strategy should be cohesive and integrated, making sense together, and Alex explains what defines a good strategy.
Defining Key Factors in a Strategy
When discussing a strategy, it is important to understand what the company does, for whom, what they offer, and who their customer is. This information can help businesses define their niche, mission, and goals. The next piece of information should be a clear description of what the business will look like in the next few years. The end state of the business and the strategy cycle should be defined, with what will be achieved by implementing the strategy and what actions will be taken. By knowing what you do, for whom, what you work toward, and the few choices that make 80% of the impact, businesses can focus their resources on the most important aspects of their strategy.
Helping Companies Develop a Strategy
Alex talks about the process of helping companies develop their strategy. He begins by helping clients understand their playing field, recent past changes and challenges, and aligning them with what the reality looks like. He discusses future changes and challenges, dissecting them into opportunities and defining target markets and clients. Alex helps clients understand what they need to do to make clients choose them over competitors in various industries. He also introduces the framework of the nine elements of organizational identity, which is an integrated approach to understanding every aspect of an entity. This includes customer experience, who the company is as a company, and the impact they want to have by providing a service to the world.
The Nine Elements of Organizational Identity
Alex talks about the frameworks he uses to help clients develop a strategy, including the nine elements of organizational identity and how he has defined key factors into the inner circle, the middle circle, and the outer circle.
The Inner Circle Business Strategy
He talks about the inner circle of a business and what it involves, including impact, mission, and principles. Impact is the change you want to create, based on your purpose and reason to exist as an organization. Mission is what an organization aims to do, and principles are the underlying values and behavioral guidelines.He explains how each element works and what the difference between impact and mission is. Iimpact is the change you want to create, while mission is what an organization aims to do. For example, a vehicle company's mission is to produce vehicles and sell them to a specific target group. However, the impact they create is deeper than their business definition. For example, producing affordable vehicles can be a game changer for families in third world countries, and having your own vehicle can also be a game changer depending on the security situation.
The Middle Circle Business Strategy
The middle circle is your business strategy, which includes a vision, choices made, and measurable goals. SMART goals are specific, measurable, and timed, but they lack specificity and, instead, hope that passion will carry them forward. To create a cohesive business strategy, it is essential to have a clear vision, intermediate goals, and visual representations, such as a strategy map. This helps ensure that the story you are telling with your strategy is cohesive and effective.
The Outer Circle Business Strategy
Alex discusses the outer circle, which includes management system capabilities and targets. This outer circle is likened to a scaffolding that prevents a business from breaking down again. However, without enabling everyone in the business to lead effectively and help individual contributors understand that their job matters, and help them achieve their individual targets. It also helps ensure alignment with company values.He mentions that targets should be both cultural and strategic.
The third element in the outer circle is management systems, which help adjust organizational structure and processes to support change. These systems are designed to help the company stay stable and develop, but they are not designed for change. Therefore, building new systems and then removing the old ones is crucial to create strategies that support strategy, implementation, and culture.
Preparing the Foundation of Strategy Development
Alex emphasizes the importance of understanding the playing field and reality, as well as the diamond values that define who a business is. Diamond values are hard to alter, even under pressure, and are hard to lose clients if they don't align with the company's values. He mentions that the distinction between irrational and emotional culture is important, as it helps companies understand the difference between doing the right thing and talking about business and the words used to describe your playing field, and the emotional culture of the people within the business, and creating an environment that fosters a human-centric performance culture, where people show up at their best every day. This goes beyond just revenue generation and problem-solving, but also encourages employees to be the best version of themselves, knowing that working in a business that prioritizes them as human beings is a privilege.
The Role of a Strategy Facilitator
Alex discusses the role of a strategy facilitator in executive coaching and how to help customers create business strategies. He shares eight steps that can be used as starting points for executive teams, including executive interviews, foundation sessions, and strategy workshops. The foundation session helps answer foundational questions and aligns everyone's readiness to start a strategy process.
He talks about the importance of transitioning from understanding reality and understanding oneself and values to moving towards the future. Facilitators must create an environment where honest and vulnerable conversations about strategy are allowed, allowing people to bring their ideas forward. Alex emphasizes the importance of helping people become stewards of the entire business, not just the marketing lead or sales lead. They should step away from their day-to-day jobs and become stewards of the entire business. Alex mentions a certification program for facilitation he is developing that targets both external resources like executive coaches and workshop facilitators, as well as internal resources like strategy managers and PMO managers who often find themselves in situations with executives where they facilitate and push forward the process.
Alex's book, "The Strategy Facilitator," was inspired by a conversation with Marshall Goldsmith, who had previously worked with Alex's marketing agency. Goldsmith offered to endorse his book, which Brueckmann describes as a kind gesture.
Timestamps:
01:02 Business strategy and its components
05:30 Strategy development and identity for businesses
10:46 Organizational identity and strategy
17:58 Implementing a comprehensive strategy for a business
22:38 Strategy facilitation and emotional culture in business
26:32 Strategy facilitation and certification program
Links:
Website: https://brueckmann.ca/
Book: The Strategy Legacy
Book: Secrets of Next-Level Entrepreneurs: 11 Powerful Lessons to Thrive in Business and Lead a Balanced Life
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Karen Friedenberg discusses a project she worked on to design an Intelligent Automation Center of Excellence for a Fortune 500 medical supply company. The challenge was that the organization was initially looking to leverage robotics process automation (RPA) technology to automate repetitive and manual processes. This led to the development of Intelligent Automation, also known as hyper automation.
Defining the Meaning of Intelligent Automation
The first step in this project was defining Intelligent Automation and defining its meaning. The client wanted to develop a center of excellence to coordinate efforts across the company to take advantage of new technology and benefits quickly and in a coordinated way. The center of excellence would serve various needs and be a resource for the organization. Karen explains that the first step was to identify the pockets within the organization where people were learning about robotics, process automation, AI, and chatbots. She then interviewed stakeholders to understand their strategic imperatives and goals, and a key understanding was to let business lead the way, not the technology.
The second step focused on developing the structure of the Intelligent Automation Center of Excellence (COE), its interaction with other teams, and the roles and competencies of the COE team. The COE team would be responsible for staying on top of the evolving technologies and coordinating efforts to leverage project management and program management capabilities in a coordinated way. One of the great things about new technology is putting it in the hands of the business and users, allowing them to solve problems themselves. However, there were challenges, opportunities, and fear to address, such as change management and fear of the business starting to do this. For example, IT was beginning to fear redundancy in many of their roles. As a solution to these challenges, it was necessary for the COE team to identify their mission, roles, and responsibilities.
The Center of Excellence Explained
The Center of Excellence (COE) is a team that works to identify and prioritize automation candidates in business units. Karen talks about the knockout criteria they use to assess if a process is an automation candidate and if it can be done within existing systems. The COE then uses a box prioritization matrix to assess the impact and effort of each candidate. If it is easier and less risky, it may be a candidate for a citizen developer role. Governance is also a key aspect of the COE's role.
The COE's role involves oversight and sharing best practices. They train and certify citizen developers to use new technology and processes, ensuring proper controls are in place. The SDLC (Software Development Lifecycle) is a model that aims to maintain flexibility and speed while ensuring proper controls.
People submit requests through various methods, such as email, phone, or using shared systems like Leisha shared through SharePoint and Microsoft tools. The COE's role is to ensure that the process is secure and efficient, while also ensuring that the right controls are in place to prevent unauthorized changes to code.
Discussion on the Design Phase of a Project
Karen explains that they are still in the design phase and it has not been fully executed yet. The vision was to analyze incoming requests and determine who gets help. The team is divided into a business lead and an IT lead who would work with business analysts to assess the project's feasibility. The group provide different levels of support, such as a half-hour conversation or a three-month project with a business analyst and consultants.The first step is to train the business unit citizen developer and to provide regular reviews to the client. The team would also provide additional technical, business process, and change management assistance. The goal is to help the client team navigate their blockers and be a centralized source for sharing learnings and best practices across the business.
Integration with The Center of Excellence
The COE is complex and interacts with multiple systems, including project management teams and various departments across the business. The team would also be aware of other projects in the company and work with them to ensure each project is documented and shared within the ecosystem to share information across departments and projects as required. Karen discusses the development of an Intelligent Automation center of excellence and the marketing approach taken to promote the service. The center consists of five people and is being promoted internally through business optimization managers. The company is taking a crawl, walk, run approach, starting small and growing. She explains that some barriers to the center include resourcing, funding, and fear of AI impacting employees' jobs. Organizational change management is crucial in these efforts, as it ensures sustainability and avoids unintended consequences for employees.
The Benefits of a COE
The company anticipates benefits from the center of excellence, such as faster deployment of technologies, reduced manual tasks, and cohesion of information. The technology has tremendous benefits, but the bigger benefit is the new ways of working that can be applied across various parts of the business. The center of excellence also helps in teaching new ways of working and chain collaboration between the business and IT.
Timestamps:
01:02 Designing Intelligent Automation Center of Excellence for a Fortune 500 company
02:22 Establishing an Intelligent Automation Center of Excellence
06:40 Automation and citizen development in a business unit
10:49 Implementing a citizen developer program
14:32 Implementing an Intelligent Automation center of excellence
Links
Website: https://www.piconsult.net/
LinkedIn: https://www.linkedin.com/in/karen-friedenberg/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
In this episode of Unleashed, the panel discussion focuses on the pros and cons of becoming an adjunct professor. The panelists discuss the motivations behind teaching courses as an adjunct professor, how to get hired, whether to teach in traditional MBA programs or other certificate or degree programs, the amount of work involved, typical pay, relationship building opportunities, project opportunities, and ancillary benefits such as access to datasets or research services.
The discussion kicks off with Adam Braff, a data analytics executive/advisor, shares his reasons for teaching, stating that the best reasons to teach are not practical instrumental reasons but more passion and love for teaching and believes it is a creative act. Mary Kate Scott follows Adam. She teaches at the University of Southern California, Marshall School of Business in the MBA program, and Keck School of Medicine, focusing on healthcare. She has taught the business of healthcare, innovation and health care, new business models in health care, entrepreneurship and health care, and medical device business models.
Mary Kate also shares her background with Procter and Gamble and later joined McKinsey for two years to become a better professor. She found she loved the position and stayed there for seven years, but she states that she found the joy of teaching to be both inspirational and fun. She enjoys the level of engagement and interaction in her classes.
Sven Beiker teaches Strategy Making in an MBA program at Stanford Business School, and also at a university in Sweden about AI and product development. He discusses his experience teaching at Stanford and their passion for teaching. He began his teaching career at Stanford which led from a position as an automotive program manager. He also enjoys working with younger people, finding it intellectually stimulating. He has also found the position to be an asset in branding, and has found that it helps in terms of being considered as a keynote speaker from Stanford Business School.
Mohannad Gomaa shares his experience teaching at US Navy PostGraduate School, which was motivated by a contract with a colleague and his subject matter expertise. He designed and delivered the curriculum. He has also taught in consulting colleges, and recently, he was authorized by the Association of Supply Chain Management to teach supply chain certifications, including the CSCP certified supply chain professional certification. This allows him to associate with a reputable knowledge body and meet with stakeholders interested in his work. He has also signed an agreement to be a consulting partner for the ACM, which will allow him to explore more opportunities across industries. He believes teaching is a passion that can generate revenue beyond the passion.
An adjunct professor at the University of Copenhagen shares her passion for teaching consulting and adds to her reputation for expertise in her field, but she finds teaching fun and energizing.
How to Secure a Position as an Adjunct Professor
The conversation also touches on how to get started as an adjunct professor. To do this, one should be flexible about the institution they want to teach in and focus on the dimensions that are necessary to their field. Many schools have executive MBA programs and masters of leadership programs and other programs that are growing and need teachers who can teach their specific subject matter area and create and pitch syllabuses.
To reach out to the right people in these institutions, one should reach out to the Academic Director of different degree programs. This person will be responsible for the substantive side of these programs and can help with informational interviews. For example, if one wants to teach in New York City, one could reach out to HR or the dean of the school. Mary Kate discusses the benefits of adjunct teaching, including the joy of publications, networking, and credibility. She suggests starting as a guest speaker and gradually delivering classes, either shorter or elective, and eventually creating the curriculum. She also encourages reaching out to people teaching similar courses to your field to get started. She also mentions simply letting people know you are interested in teaching.
Sven mentions that many full-time professors don't like to teach, but they are constantly looking for someone to bring real-world experience into the classroom, to interact with a class, and bring their knowledge to the table. He states that, there are continuing education programs at universities, such as Stanford, that offer continuing education programs on both the professional side of education. These programs can help students gain experience and develop their interest in graduate programs and could be a first step into teaching. Networking is a key aspect of adjunct teaching, and can lead to a board position.
The Evaluation Process Revealed
The panelists discussed the typical evaluation process for teaching positions, including the need for specific credentials or certificates, and how to express interest. Having someone internally who can vouch for you can make a difference.
The first step in the evaluation process is to have a track record, such as a recording of a lecture, a written syllabus, and student evaluations. This ensures that when applying to another institution, they feel confident in their ability to teach a class.
Compensation for Teaching
The compensation for teaching varies between $6,000 for a semester to 15,000, with a median of $10. The time commitment for creating a syllabus from scratch is around 200 hours. There may be additional benefits associated with teaching, such as subsidized healthcare benefits.
The panelists discuss the range of compensation, which can range from $1,000 for a 90-minute class to $2,000 for a two-hour class and could for a 7, 12, or 14 week program. The first time teaching, the teacher takes over the curriculum and develops it, however, they could be writing the entire curriculum, which can be a lot of responsibility but also an opportunity to shape the educational experience for students. It is worth noting that the course can also impact your consulting business, as committing to a class every week can limit your consulting business if you travel frequently. In contrast, in-person classes can be more effective due to scheduling.
Another panelist, who is a Professor of Practice at Michigan State University's School of Business, states that the course is a salaried position, but it is not a full-time gig. The pay is based on a W-2 and a salary, which is a relatively small amount.
The Benefits of Teaching
The conversation revolves around the benefits of teaching and consulting, including inspiration, credibility, and carryover spillover benefits. Mary Kay shares her experience with getting clients and consulting project leads and converting leads into confirmed projects due to her credibility. Her students have become clients, and she concludes that the network is an enormous benefit.
Adam suggests that teaching should be synergistic with consulting work, and that it is synergistic to his writing work and that he has adapted the courses he teaches to corporate training. However, in this situation, it is advised to focus on the language of contracts to ensure that intellectual property rights are portable to a corporate context.
Sven shares his experience with gaining project leads, which can be former students who become clients or organizations seeking advice from a professor who is also a consultant, and he has often been asked to be on the advisory board of startups by former students. This nurtures the network and gives the professor more standing and credibility. Clients often recognise the professor's expertise and reputation, making it a valuable asset.
Best Practices for Networking Opportunities
To maximize networking opportunities, Nick has found partnering opportunities with fellow professors. Mary Kate suggests connecting with other faculty members, attending university events, and partnering with fellow professors. She also shares her experiences of being wasted in the first semester of teaching and finding it difficult to find opportunities to meet with faculty members.
Developing a Curriculum in Academia
The conversation turns to the complexity of developing a curriculum in academia. Developing a syllabus can be challenging, especially when it comes to creating evaluation materials and quizzes that can be objective and not lead to low grades. The tension between grades and evaluations can also be a challenge, but it becomes easier after the first time.
The complexity of creating a syllabus depends on the type of class, for example, a seminar class at Stanford may require more discussion and bringing in guest lecturers. Another may require more content creation; a new class may require more detailed teaching material, including a reading list, quizzes, preparing exams etc.
Teaching As a Learning Experience
Jared Lee, a faculty lecturer at McGill University and principal at Juniper, a Montreal-based consultancy, believes that teaching is a deeper way to learn and develop skills, as it requires a lot of preparation, the ability to defend theories against questions, and to be able to implement storytelling techniques. He believes that teaching 180 students who have detailed questions requires being bulletproof in preparation and how to apply the theories.
Jared also shares that this experience has built his ability in educating clients. Panelists also state that teaching has helped develop stronger public speaking skills, and the ability to manage a crowd. The discussion revolves around the challenges of teaching at universities like Stanford and the importance of facilitation in making discussions meaningful and meaningful.
Access to Ancillary Benefits As an Adjunct Professor
Additional ancillary benefits include access to datasets, academic journal articles, and other resources. Academic resources, such as the MSU library, are free and can be used in private practice. Academics can also leverage their academic connections to engage in conversations with people for various purposes, such as building lectures for their courses or collaborating on consulting projects. Health insurance is another asset. For example, at McGill, teaching three sections within a year can grant access to health insurance and supplemental pension and investment plans.
The conversation ends with the participants discussing their takeaway from the discussion, including:
- The importance of 200 hours of syllabus development
- The importance of fostering meaningful discussions and connections within academia for both students and faculty
- The importance of passion, preparation, and genuine effort in creating content for a class
- The need for preparation
- Staying updated on relevant topics and staying updated on the latest developments
- Credibility
The panelists agreed that you should have good reasons for taking this position, and having a clear purpose for teaching can lead to better results. One additional tip was to be clear about why you are doing it and this will help you focus on how to achieve your goal. Another is to take advantage of a guest lecturer opportunity, and to be open to learning from your students.
In conclusion, the panelists discussed the importance of passion, preparation, and genuine effort in creating content for a class. They also highlighted the importance of being proactive, asking questions, and embracing the unique experiences of students. By doing so, teachers can gain valuable insights and develop a deeper understanding of their field.
Timestamps:
07:03 Consulting career paths and teaching experience
10:25 Adjunct teaching roles in economics
12:37 Finding teaching opportunities in higher education
15:06 Adjunct teaching opportunities and how to get started
17:24 Teaching at universities, networking, and evaluation processes
24:31 Teaching gigs, compensation, and time commitment
27:07 Teaching and consulting gigs for experts in customer experience management
31:22 Leveraging academic faculty status for consulting opportunities
34:48 Curriculum development and networking at a university
36:42 Teaching methods and challenges in higher education
39:58 Teaching and learning theories in consulting
42:48 Teaching strategies and access to academic resources
45:16 Academic benefits, networking, and health insurance
53:21 Teaching and consulting in academia
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Russell Reynolds, founder of Russell Reynolds Associates and RSR Partners, shares his story of starting his own executive search firm in the 1960s. He served in the Air Force and later joined JP Morgan. After working there for six or seven years, he joined William Clark Associates. However, shortly after, he decided to start his own firm with his friend OB Clifford and a few other friends. They collected $50,000 and started Russell Reynolds Associates. He also decided to invite his friend Lee to join the firm as partner. The firm was established in 1969, and the partnership worked well. Today, Russell Reynolds Associates is one of the largest search firms in the world. As a big producer, Russell believes that success in a service business is about doing a good job and connecting with clients. He was introduced to the senior partner of Oppenheimer and company; they became great friends which eventually led to many more clients.
Key Factors in Hiring Talent
Russell states that it is important to look for people who are well adjusted, positive, and excited about the future. He believes that integrity is the single most important ingredient for success, and if people are honest and try to do the best they can, they will prevail. He shares the key points he looks for in people, including whether they are givers or takers and the questions he asks candidates.
When hiring for Russell Reynolds Associates, one of the key questions is whether the person has integrity or adapts to their style of client service. Russell asks for samples of their writing, because communication skills are so important, and he also asks about family relationships and what they do on weekends. He also emphasizes the importance of taking them off base to see how they really behave, and allows him to see how well they are prepared and how they can be receptive to new ideas. Russell believes that bright young people are the key to success in a business because they are motivated, hungry, and want to please you.
Building the Board and Expanding the Firm
Russell discusses the role of an external board of advisors, which included prominent business leaders from JP Morgan and Shell. He shares the firm's approach to governance, and how it was run like a public corporation. He also discusses the institutions and practices set up to develop people. The firm grew through branch offices, and rules established by each branch, but there were certain rules that were set up across all branches, and he explains what they were and certain aspects which were encouraged such as involvement in charitable and political activities. Russell shares stories of when he was involved in fundraising for both charitable and political campaigns, including meeting then Prince Charles, and time spent raising funds for George H.W. Bush and Ronald Reagan.
Success Factors of the Firm
He talks about maintaining and building relationships and shares a few tips on maintaining positive client relationships and how his firm offered new ways of providing value to clients. The firm's search businesses are broken down into practice areas such as healthcare, financial services, wealth management, consumer, industry, board, and recruiting. He also talks about building a service firm and practice management.
In 1993, Russell sold his shares in RSR Associates and decided to start RSI Partners. The firm expanded into executive search, which is still going well today. He explains why he made this decision. He is now chairman emeritus, and although he is not directly involved, he is on the board. He shares why he sold RSR Associates and why he decided to come out of retirement to start a new company. The conversation turns to career mistakes and Russell recounts a story of being charmed and betrayed, why he believes physical fitness is important in the assessment of a candidate, why he’s leary of academic achievers, and what he considers valuable assets.
Professional Career Advice
Russell advises young college graduates to focus on developing their skills and investing in them. He suggests attending seminars, conferences, and listening to podcasts to learn new skills. He emphasizes the importance of having a balanced life, including vacations, family, and relationships. He also suggests being on outside boards, both charitable and for profit, for educational and helpful experiences. For those building a professional services firm, Russell suggests not taking no for an answer, not to be limited by one's imagination, and the importance of being grateful, humble, respectful, and recognizing that they are not the most important person in the world. He emphasizes staying in good health physically and mentally. However, he also recognizes that the advice depends on the individual's interests and goals.
Timestamps:
05:37 Leadership, client service, and hiring practices in professional services
16:01 Leadership, governance, and talent development in a consulting firm
24:42 Political connections and relationship-building in the recruitment industry
31:43 Career development, business growth, and leadership lessons
40:46 Career development, leadership, and success
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
In this episode of Unleashed, Paul Gaspar discusses his experience working with artificial intelligence at a major global insurance conglomerate in Japan. The company faced pressure to streamline operations and reduce costs within its auto business. Paul, who was in a role leading the data science function, suspected that the claims area in insurance was a target-rich environment for delivering value with advanced analytics and technology. He found that similar processes were being utilized on claims regardless of the size, leading to the opportunity to put analytical rigor behind the claims estimation process.
AI Use for Processing Insurance Claims
Paul and his team looked at information flows at various points in the process, specifically evaluating how information collected at the time of the accident could be used to provide insight on losses. Using this information, they built predictive models using AI techniques that would allow them to predict the ultimate value of these claims from a $1 perspective, using a subset of the initial information collected at the time of loss. By building models that could do this quickly and accurately, they were able to set thresholds that would allow for automated processing and payment of claims amounts on about a quarter of the total claims volume. This reduced the workload for the team handling claims and sped responsiveness to customers with smaller claim amounts.
The Process of Assessing Information
Paul explains the process of assessing the quality, consistency, and reliability of information for a client. This involves assessing the types of information, blending them with data analysts experienced with using different modeling techniques and programming languages. Paul and his team used Python to investigate particular approaches, and testing results to identify useful data elements for creating meaningful insights. This process is not necessarily feasible for a data analyst with minimal data science knowledge. Instead, a step-by-step approach involves evaluating the data, considering viable modeling techniques, and experimenting with them to ensure accuracy, speed, and processing power. A team of experienced data scientists can help guide the technical approach and modeling techniques used in the case. This approach is essential for evaluating claims and determining the appropriateness of claims based on the available data. To ensure precision across various claim types, it is crucial to segment claims by value and look at the ones with the lowest value. This helps identify potential risks and minimizes leakage, which is the risk of overpaying for claims relative to processing costs.
Predictive analytics is a complex art and science, and it is essential to be careful about how and where to use it, ensuring that risks are well understood and balanced against the benefits of the process.To turn a scalable business process into a working scalable business process, Paul states that change management work must be done across various functional areas. This includes ensuring that information is passed into payment systems, how automation impacts existing processes, and how to contact customers and inform them of potential benefits.
Building AI Algorithms to Prevent Human Errors
In the claims process, Paul states that human errors can be a significant issue, as they can lead to false positives and false negatives. To prevent human errors, AI algorithms should be trained to match human judgments and set error tolerance thresholds. This is a time-consuming part of the process, and it is essential to work with claim handling professionals to assess the performance of the models and identify errors. He also mentions that risk management is crucial in ensuring that systems make accurate decisions and avoid making mistakes. Machine learning operations (ML ops) have emerged as a concept that accounts for model performance over time, and it is crucial to continually monitor and adjust models as needed. To ensure that the model does not become overly sympathetic to human errors, it is essential to conduct testing and monitoring over time. Companies that excel in this field have developed software programs that allow for systematic monitoring of decisions. By setting thresholds and balancing processing time and error, companies can set acceptable thresholds and auto-process claims at risk-acceptable levels.
The Evolution of Predictive AI
Paul discusses the evolution of predictive AI, specifically generative AI, which uses existing knowledge bases and training models to generate content that is most likely to be related to an end user's query. This is the basis of foundational models used by open AI and Perplexity to create a new paradigm and use case for predictive AI. The accessibility, power, and intuitive nature of these models make them exciting for experimentation. Generative AI tools have become multimodal, allowing them to take textual, voice, image, or video inputs and respond to queries about that type of content. This allows for an incredible range of possibilities, even in the mobile first world. For example, in the case of auto claims, the estimation process could change from a low value subset to a higher value and sophistication of claims.
The multimodal input, the ease of interaction with providing information to these tools, and the ability to access from both practitioner and end user perspectives are key game changers in the future of predictive AI. Paul emphasizes the importance of change management in implementing AI tools in corporations.
Timestamps:
01:04 Implementing AI in claims handling at an insurance company
08:34 Using predictive analytics in claims processing
13:41 AI-powered claims processing and error management
18:25 Generative AI's transformative potential in various industries
Links:
LinkedIn: https://www.linkedin.com/in/paulmgaspar/ Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
In this episode of Unleashed, Astrid Malval-Beharry discusses an AI case study with a top 50 homeowners insurance carrier in the US. Astrid was approached by their underwriting and innovation teams to digitally transform their underwriting workflow. Astrid shares an overview of the industry at present. The industry is facing challenges due to an increase in natural catastrophes, inflation, disruptions in the supply chains, and policyholders who prefer to have an Amazon or Uber experience with their insurance carrier. The client had three goals for the digital transformation project: increasing the level of straight-through processes, improving risk assessment, and realizing greater investment in inspection. Astrid explains what straight-through processing is and how it works using data analytics and AI-based and technology solutions.
The second goal was to improve risk assessment by analyzing the location of the property, the condition of the property, and the policyholders themselves. The client wanted to know how AI solutions could help enhance risk assessment, reduce premium leakage, and charge the right price for coverage.
The third goal was to improve the inspection process, which currently costs carriers a lot of money but only yields a few actionable insights. To achieve this, Astrid’s team shadowed underwriters across both regions and senior IDI to understand how consistently underwriting guidelines are being applied. The team also interviewed and benchmarked against competing carriers, InsurTech carriers, and carriers that look at the underwriting workflow with a different lens. This allowed them to see the art of the possible and make informed decisions about their underwriting practices without disrupting the workflow.
Employing AI Solutions for Insurance Companies
Astrid talks about what follows the research and benchmarking exercise and how they mapped the workflow and the ideal future state. Premium leakage occurs when insurance companies charge less for a policy than the actual premium should be to reduce losses and charge the right price for the coverage. The inspection process is often done by agents or license inspectors, leading to a lack of actionable insights. To address this issue, a preferred digital transformation engagement was conducted by shadowing underwriters across both regions and senior IDI. This allowed the team to understand the consistency of underwriting guidelines and the impact of different levels of underwriters on the process.
Competitive intelligence benchmarking was conducted against carriers with similar profiles and InsurTech carriers. This allowed the team to map the workflow as the ideal future state from an underwriting workflow perspective. However, the change should not be too abrupt, as the procurement process in the insurance industry is notoriously long.
A middle ground was identified by analyzing claims activities on the book of business NIS to identify the biggest losses and how implementing AI solutions would give the highest return on investment. Change management is also important, as it involves both technology and people and processes. The organization's readiness to implement new digital tech-driven solutions is also crucial.
Astrid also touches on the convergence of people and processes when implementing technological solutions in change management.
Questions to Ask an AI Vendor
Astrid shares a list of questions to ask an AI vendor, including accuracy, model explainability, model bias and fairness, and scalability. She has experience working with insurance carriers, analytics, technology vendors, and private equity firms, giving her a deep understanding of what solutions work and don't work. When selecting an AI vendor, it is important to understand a series of fundamentals about the solution.
The first question is about the accuracy and performance of the AI model. It's crucial to understand how the vendor measures accuracy and how they handle situations where the model may not perform as expected.
The second question is about model explainability, which is crucial in the highly regulated insurance industry.
The third question is about model bias and fairness, and how the vendor addresses and mitigates biases in their AI models.
The fourth question is about scalability. While some solutions are considered vaporware, and Astrid explains what vaporware is, there are legitimate, enterprise-grade solutions that have legitimate AI technology. By asking these questions, clients can better engage with the right AI vendor and ensure the right decision-making process. She states that licensing data from a vendor is the right path due to the ongoing maintenance required. AI vendors are now incorporating large language models, such as chat GPT, into their AI models. However, this is not the core competency of an insurance carrier, which is to assess risk.
Astrid stresses that results should not be expected too quickly. However, she does mention that they are already seeing results. She mentions a project that has been 16 months in development, and it is not expected that a solution will immediately bring new business or reduce expenses. However, the results have been significant, with a client seeing a 75% increase in straight-through processing and reduced manual injury interventions. Operational efficiency has also soared, and better risk assessment has been achieved.
Timestamps:
01:02 Digitally transforming underwriting workflow for a top 50 US homeowners insurance carrier
03:08 AI solutions for insurance industry digital transformation
07:14 AI implementation in insurance industry
13:42 AI model accuracy, explainability, bias, and scalability in insurance industry
17:54 Evaluating AI vendors for insurance industry use cases
Links:
Website: https://www.stratmaven.com/
LinkedIn: https://www.linkedin.com/in/astridmb/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Julie Noonan shares a case study on using AI while working with a top 15 global pharma company to get the most insight from the data and reduce time to market or time to development of their particular molecules and drugs. In early 2022, the pharma company was using artificial intelligence and machine learning to analyze clinical and research data. The organization Julie worked with was a digital and data concentration alongside data scientists and computer scientists. Julie shares where this organization placed focus and what their goal was with regards to using AI and machine learning(ML), and the role she played in developing this center of excellence.
Company Use Cases of AI and ML
Most of the early use cases involved clinical data and research data. Clinical groups were conducting the first clinical trials with animal populations, and recording their data in various tools. They were studying a specific model molecule to understand its implications across projects. For example, they were studying a molecule for one disease indication and wanted to predict its relevance for another project that another team was working on. AI and machine learning prompts were used against the data, allowing them to organize and prompt data to return potential other indications that could be tested with the collected data.
Julie talks about how companies are grappling with the rapidly evolving AI technologies, and a center of excellence can be a solution. However, concerns may arise about adding bureaucracy and slowing down innovation. She explains how she helped her client deal with these concerns. The company culture of this global organization highly values entrepreneurialism, and allows data ownership within its group, allowing for experimentation unless it directly impacts patients.
She mentions that they were able to educate interested groups about the importance of patient safety and ethics. The organization rewards innovation by publicly recognizing those who come forward with project ideas. Even if the project is not great or a failure, it is a lesson learned. The company's top priority is the patient, and they reward those who come forward with ideas without imposing penalties or shutting down projects. The organization also stresses the need to comply with correct procedures to avoid ethics violations.
Inspiring a Company Culture of AI and ML Innovation
Julie talks about how her role in change management helped inspire innovation within the company. They used polls to encourage innovation and encourage change. They run exciting advertising, competitions, and partnerships with universities, allowing for the introduction and excitement of new AI technologies. This approach helps companies navigate the challenges of AI adoption and ensures that their innovation is not stifled by bureaucracy. Julie explains that for change to be successful, leader support plays a key role. The center of excellence (COA) is a key change management initiative within an organization. It involves making people aware of AI and machine learning, which can be achieved through various marketing strategies. The organization chose a name that aligns with its culture and annual message from the CEO, highlighting the future and benefits of AI and machine learning in drug delivery.
The COA also held pop-up events where individuals could access learning materials, certifications, and practice using fake data. Office hours were provided for those who had no idea about IT architecture or how the organization operated. Newsletter articles, posted posts, and video monitors were used to promote the COA's existence. A community of practice was formed, which met monthly for educational sessions and discussions on AI usage. Julie also explains how they monitored ethics and DEI to represent the target patient population.
Measuring the Efficacy of the COA
Measuring the effectiveness of the COA is challenging due to the lack of metrics. Julie talks about measuring awareness, and how the organization has grown from six members to a global community of over 1500 people. She also mentions accessing use of the learning, accessing use of the sandbox, and the number of projects brought into be evaluated, focusing on their metrics. For example, in the first year, 10 projects were part of a competition with a local university, where teams of university and company employees worked together to implement AI/ML elements in their projects. The project metrics included surprises, opportunities, and lessons learned. This success was significant in the pharmaceutical industry, as more drugs and experiments fail than succeed.
Over the last two years, the number of data scientists has grown dramatically, and the COA has become a vital tool for the organization's digital transformation efforts.
Timestamps:
AI use cases in pharma company
06:33 Balancing innovation and governance in a large organization
11:29 Marketing a new AI center of excellence internally
15:47 AI and ML center's effectiveness measured through awareness, access, and project metrics.
Links:
Website: www.jnoonanconsulting.com
LinkedIn: https://www.linkedin.com/in/jnoonanconsulting/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Markus Starke, an advisor for cybersecurity and digital process transformation, has recently been working in cybersecurity for the AI applications that corporations are using. Marcus explains that, AI plays a significant role in work, particularly in intelligent process automation. This concept involves combining technologies like robotic process automation, process mining solutions, chatbots, Optical Character Recognition, and more advanced forms of machine learning and generative AI to build end-to-end processes. However, cybersecurity issues can affect these automation systems, especially as more users use them individually.
Safety Measures with AI Automation
Markus talks about several dimensions of cybersecurity with AI automation. To ensure the safety of AI-related automation situations, clients are asked to review their setup from a Target Operating Model perspective. A framework is created to guide this process, including governance, secure development processes, and creating awareness about potential risks. Governance involves governing roles and responsibilities, access, user rights, and other aspects of the system. Secure development processes ensure that solutions only access the data they should access, store data securely, and use encryption.
Securing the platform is another dimension, involving standard frameworks for cloud-based solutions. Awareness about the human factors in reducing risk levels is crucial for achieving good cybersecurity. And lastly, monitoring and reporting ensure that the environment is controlled to a degree.
Examples of Cybersecurity Threats Using AI Tools
Markus discusses cybersecurity threats with AI tools, such as generative AI (GPT) for working on company data. One example is a human user extracting data from their corporate data pool and sending out an email with this data, and sending it to their private email account, which could be used in a public chat GPT instance. This can be controlled by creating awareness and setting up standardized IT security control mechanisms to limit data extraction from corporate networks.
Another example is using proprietary corporate data for advanced data analytics on GPT, which could expose it to a potential attacker. Private computers are typically less secure than corporate ones, making them more prone to being attacked or losing data to an attacker. Corporations generally want to limit the type of data that is made publicly available in generative AI applications. He states that it is not always clear what happens to the data that is input to AI applications.
Markus also discusses the risks associated with using consumer versions of chat GPT, as any data uploaded could potentially be put into its training data. However, there are options for setting up AI applications in a limited way for specific corporate use cases, but it is important to evaluate these solutions on a case-by-case basis to ensure they fulfill specific needs and governance. With Gen AI, it is crucial to balance between limiting too much while maintaining control.
AI Tools Retaining Data
The discussion revolves around the use of AI tools, such as Zoom, which may be retaining data on calls or transcribing them without letting users know. This raises concerns about the accessibility of information to organizations. It is essential to ensure that these tools align with cybersecurity standards and are compliant with protection requirements. However, this may be a case-by-case consideration, and Markus emphasizes that it is always necessary to question security processes. In addition, he mentions that it is crucial for independent consultants to raise awareness about cybersecurity and AI. Basic rules apply to the use of AI, such as ensuring data is stored in controlled instances and using strong protection mechanisms like passwords, access rights, and encryption. When working with clients, it is important not to make their lives too simple by creating AI solutions for specific business problems. Cybersecurity can sometimes be perceived as slowing down businesses, but it is an essential control that must be maintained. Independent consultants should review these aspects and not make their work too easy. Markus strongly recommends that consultants should be aware of active and forthcoming regulations that apply to AI when setting up solutions for clients.
Timestamps:
0:03 Cybersecurity risks in AI-powered process automation
03:10 Governance and security for AI-related automation
05:53 Cybersecurity risks with AI tools and data
10:48 AI data security and control
14:47 Cybersecurity and AI in business
Links:
Freelance Website: http://starkeconsulting.net/
Company Website: https://www.ten-4.de/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Cheryl Lim Tan discusses her experience working with a financial wellness product powered by AI. The client was early in their journey and needed to raise awareness of their product. They needed to refine their product further and gain more users to gain feedback and make adjustments to its features. Cheryl was brought in to take care of the entire marketing function.
Cheryl's approach involved figuring out the company's brand, target audience, and value proposition. She also focused on articulating the unique value proposition of the product compared to free tools like Chat GPT. By addressing these aspects, the consultant was able to create a clear framework for the client's marketing function and reach investors.
Prompting AI Tools
Cheryl highlights the importance of education in the AI world, as AI tools are prompt-driven and consumers may not know how to interact with the interface and how to prompt it. To address this, they developed a suite of YouTube videos on how to prompt the tool for different situations or information. Another key aspect of targeting the client was developing personas. These personas were identified and distilled into a framework that included the top three messages, pain points, and expectations for each persona's customer journey.
Consumer Education and AI Tools
Cheryl emphasizes the importance of consumer education in the AI world, as it helps to draw the right audience in and ensures the success of the product.She also shares consumer insights about the types of users who are open to using AI tools, such as Gen Z, who are digital natives and more likely to adopt AI in their everyday lives. The proliferation of AI in 2023 has helped AI companies get in front of their target audience and engage with them. Gen Z is likely to be one of the highest adopters of AI, while millennials and Gen X are more cautious and hesitant. To ensure AI adoption applies to their market, companies must be clear about their personas and target audience, and consider using colors and layouts that appeal to the everyday consumer rather than catering to programmers.
SEO and AI
In terms of SEO, search engine optimization, and paid search, Cheryl highlights the importance of being conscious about who they are trying to reach and how to present their brand accordingly. She also discusses the challenges faced by early AI startups in figuring out who they are targeting and how to signal their preferences. She shares their marketing mix, which includes SEO, content marketing, working with influencers, an affiliate program, email marketing, and discord communities. They found that email marketing still works and was a great way for them to pick up new users. They also mention brokers for finding AI email lists that are a good fit for their brand and audience.
The Benefits of a Discord Community
Cheryl talks about the importance of having a dedicated Discord community related to your product to gather information, which is valuable for marketing and product refinement. She explains how Discord can be used, and how she has used it in marketing. She emphasizes the need for authenticity in inserting oneself into conversations and promoting the product. Reddit, she believes, is taking over Google in terms of cost for acquisition, with a cost per click down to $1 compared to Google's $4-6. Reddit also allows for targeted placement in relevant conversations, making it more cost-effective than Google.
Timestamps:
00:03 AI-powered financial wellness product and marketing strategy
04:00 AI marketing strategies for consumer education
07:45 Targeting audiences for AI technology
11:13 Digital marketing strategies for a startup
14:14 Marketing an AI product using Reddit and Discord
Links:
Website: https://www.cheryltanconsulting.com/
LinkedIn: https://www.linkedin.com/in/cherylltan
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Barry Saunders, a digital expert at McKinsey, discusses his background in the firm and his experience in AI-related projects. He worked in the LEAP practice, which built platforms for video streaming, preventative maintenance, and optimization tools. He left McKinsey to become Chief Product Officer at an Australian fashion company and recently joined MXA, a strategic digital technology company in Australia. Barry suggests a two-by-two typology classification scheme for AI-related projects. The first quadrant focuses on understanding patterns of behavior, while the second quadrant focuses on predictive behavioral modeling, third is more about text orientated and understanding meaning. The fourth quadrant focuses on regenerative AI and content creation. Barry believes that combining these quadrants can lead to personalized content for different customers and valuable insights and can unlock interesting value.
AI Use Case Study
Barry and his partner have been working on an AI toolkit to automate time-consuming work for management consultants. They developed a startup called First Things, which uses Gen AI to create classic McKinsey storylines from unstructured data. This tool has helped executives work through their strategies and report outcomes. They have also worked with clients on the AI journey, especially regulated industries. They have found that some tasks can be done more effectively with AI. One project they did was analyzing insurance policies for large-scale agricultural businesses, which are often complex and drift in meaning as language is updated. They created a tool that would analyze these policies, extract semantic meaning, and identify where drift took place, allowing them to align documents and simplify policies. One of the projects they are currently working on is simplifying lending policies for banks. In Australia, many lenders do home lending as their primary base, but the technical platforms used by banks and non-bank lenders are ancient and difficult to navigate. They are working on simplifying policies and offering home loans more simply.
Building AI Tools
The level of effort required to build a tool like this is not limited to building it. Many of the tools available are free, and there are many software as a service tools available that can perform similar tasks. To build a tool like this, one should be clear on what they are trying to do, such as simplifying a policy or comparing two different policies. The AI toolkit has proven to be effective in automating time-consuming work for management consultants and other clients. It is essential to be familiar with the tools and their capabilities to effectively utilize AI in various aspects of business operations. The legal space offers a vast array of tools for generating and analyzing contracts, including software as a service tools. To use these tools effectively, it is essential to be familiar with the large language model and the tool being used. Tuning these tools to get the desired response requires understanding the chain of logic and the outputs.
To build a production-oriented tool, consider using large language model operations (LLM ops) or large language model operations (LLM ops) in a broader software architecture or workflow. Google, AWS, and Microsoft offer guides on how to integrate these tools into their software stack. It is crucial to be clear about the tasks and outputs of these tools, and to work with teams who are familiar with these systems.
Using AI Applications
Barry discusses his work on AI applications, specifically RF cues and analyzing large documents. He built a proof of concept using a tool called mem.ai. He talks about a template he built to analyze questions in RFQs, which are often templated and consistent across government agencies. The system is particularly useful for handling open-ended questions and generating text about your company's services, processes, etc. This speeds the process of applications, and the system can be used to set the tone for the next step in a project.
Timestamps:
00:03 AI projects and experience at McKinsey with Barry Saunders
01:57 Using AI to analyze text data and create personalized content
05:23 Simplifying complex insurance policies using AI
09:06 Building a tool for analyzing and comparing legal documents
12:31 Using AI to automate RFQ response generation
Links:
Whitepapers: https://www.mxa.com.au/whitepapers
Company Website: https://mxa.com.au/
LinkedIn: https://www.linkedin.com/in/barrysaunders/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
In this episode of Unleashed, Phil Bellaria shares a case example of building a Chat GPT using open-source large language models. The client was a large telecommunications company with an immense amount of unstructured data, including customer feedback, feedback from employees through surveys, and transcript transcripts from millions of phone conversations and text chats. The problem statement was to derive insights and understand the state of the business, identify trends and topics as quickly as possible. The process took place through 2018-2020.
Working with a data scientist, and using Google's BERT methodology for natural language processing, the team coded an algorithm that identified topics and classifiers from the unstructured data, scored each topic and phrase on sentiment (positive or negative comments) and created a short summary of customer or employee comments related to each topic.
The process of building and running the model was processing intensive, and the first step was testing and iterating the model on smaller samples of data. The company held employee surveys, which was processed through the test model, the data was reviewed by HR business partners and business leaders to check for accuracy. The model was trained on all the information in Wikipedia, but other specific information and words were added to refine it.
Over six to eight months, the model was able to accurately represent what employees were saying.
Using AI to Improve Sales Pitches
Phil discusses the use of AI in business applications and how it can be used to improve sales pitches. He explains that the problem was to understand why sales agents were not pitching a strategic product effectively. By feeding data from conversations with customers about the product, the algorithm was able to identify words and phrases associated with successful sales and non-successful sales. This information was then used to train sales agents on the right expressions and words to use when pitching the product. Phil shares some phrases that work well and those that don't, such as promoting a streaming product by associating it with popular shows. He also discusses the challenges of building AI models and securing and protecting data. He also addresses the cost of building an AI model.
Using AI for Next Best Customer Actions
Phil shares one example of AI-related projects which used AI algorithms to predetermine the next best action for a customer that can be used in real time to learn the best approach in customer interaction. The AI engine uses reinforcement learning to improve the power of the recommendations. The process involved building the right APIs into existing systems and ensuring SLAs in terms of responsiveness. The algorithm itself uses sophisticated statistical modeling techniques, but the main challenge was integration and timeliness.
Challenges Implementing AI
Phil talks about the challenges of implementing this process. He emphasizes the importance of defining the business problem and getting the technical team involved early in the process. He talks about time spent translating the problem into technical applications, allowing technical personnel to use their skills to solve the problem. He also shares a timeline for starting a recommendation algorithm. The process includes writing, pulling in data, creating a data environment, scoring, and algorithms. Another consideration is change management which involves limited pilots and controlled AB tests across the population, and time allotted to roll out and testing.
Phil discusses the power of AI in data analysis, stating that it can provide insights and interactions that are not always available before. The real power lies in bringing new agents to speed up the process and elevating the performance of middle-tier agents. The lower performing agents often wouldn't use the tool, so they don't see as much impact.
Timestamps:
00:02 Using AI to analyze unstructured data for business insights
03:23 Using AI to analyze customer feedback and sales data
08:14 AI-powered next best action engine for sales
12:16 Implementing AI-powered customer service tool
16:43 Using data and analytics in call centers
Links:
Company website: https://www.cdaopartners.com/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Diane Flynn, a multi-talented professional and author of two books and two popular courses on Udemy, Growth Mindset and Communicating with Confidence, has been working with her company, Reboot Excel, for the last decade. The company aims to help women feel current with technology, connected with a professional network, and confident in their return to work. She has had thousands of people go through their programs and continues to offer resources on their website and coaching workshops.
Diane talks about her experience of returning to the workplace after taking a long hiatus, and how she became aware that many women wanted to return to careers but found it difficult to do so for a variety of reasons. She observed that many women returning to work are immensely talented and capable, but they often face a confidence crisis when trying to get back into the workplace. Consequently, she was inspired to start Reboot Excel with four friends. The company was successful, and through her work, she found that many people in the workplace also needed the same leadership skills. She launched her own company and started working in the B2B space. Today, she coaches executives to build more inclusive workplaces and empower people to do their best work.
Helping Women Return to the Workplace
As a stay-at-home mom, Diane met many intelligent, skilled, and immensely talented women who had been successful in their prior careers but had lost confidence.
To help women regain confidence, she encourages them to reframe their achievements and skill sets based on what they have done, whether they received a paycheck or not. Many of these women have since landed amazing careers, and some have even held significant roles at Stanford University.
Diane also worked closely with Carol Cohen, founder of I Relaunch, who works with companies like McKinsey, JP Morgan, Morgan Stanley, and Goldman Sachs. They offer a return-ship program, similar to an internship for someone returning to their career, which is usually three months long and provides extra mentorship. Diane uses this program daily to help women navigate the latest workplace technologies and navigate the culture they'll be working in.
Typically, 80% or higher of the women who go through these returnships are hired into full-time roles. Diane recommends checking out I Relaunched.com for more information on their work in this area.
Working As an Instructor at Modern Elder Academy
She mentions that Chip Conley, an instructor at Modern Elder Academy, founded the program to help people stay relevant, purposeful, motivated, and energized in midlife. She shares what motivated Chip to start the program or, as it is also known, the first modern wisdom school. The course is designed for women aged 45 to 70, but can accommodate older and younger individuals. The focus is on helping participants identify their strengths, sparks of joy, drains, impact they want to have, and who they want to work with. The most important aspect of the program is focusing on core non-negotiable values, as they are crucial for finding fulfillment in one's job. The program includes various exercises, one-on-one coaching, and meals together. The alumni program has thousands of people who come back for reunions and support each other. Chip is also launching his newest book, Learning to Love Midlife, which shares his story.
Women Helped by the Program
Diane talks about some participants who have found their purpose and passion and decided to pursue new career paths, such as a corporate executive who wants to become a coach. Another participant, a young woman in her mid-30s, decided to start a new type of university and seek funding and advisors. This is an exciting example of how people can take time to reflect on their goals and motivations and explore opportunities outside their current career. Many people are going through transitions, such as divorce, widowhood, or moving geographically, and it is essential for them to take time to reflect on what they can bring into the world and what impact they want to have. By taking time to reflect on their goals and motivations, companies can better serve their needs and create a more fulfilling and fulfilling life.
How the Program Helps Women
Diane discusses the exercises he uses to help people find their purpose and passion at home. She recommends that anyone interested should visit her website (see below) and where they can find two-pages of questions to take personal inventory and help them start the process. She talks about aspects of the inventory, including identifying what fills your tank, what drains you, your non-negotiable values, strengths, and many other areas for development.
She encourages people to ask their friends what they think they do well and what they do not. This exercise helps them understand their strengths and weaknesses, which can help them develop their skills and pursue opportunities in their chosen fields. Diane also emphasizes the importance of getting feedback, as it is crucial for growth and development.
The conversation revolves around personal inventory, reflection exercises, and the importance of having a north star and a mantra Diane shares her mantra, which is to engage in creative collaboration with people she respects to change lives and build community. She describes what’s important to her and how she applies it to work. This is a creative process that she finds fulfilling and helps her say yes or no to opportunities.
Diane suggests that after completing these inventories, individuals can gather insights and advice on how to find their purpose and passion. She suggests finding an accountability partner, hiring a coach, attending workshops, or using the Japanese concept of Ikigai to help move forward in the right direction.
The Growth Mindset Course
One of Diane's courses on Udemy, "Growth Mindset," focuses on the importance of changing one's mindset and getting out of their comfort zone. She describes a fixed mindset as defined by playing it safe, not taking risks, not asking for feedback, and worrying about failure and goes on to explain how this limits growth, on the other hand, a growth mindset is an uncomfortable space that requires stepping out of one's comfort zone to make great things happen.
The course covers six key roadblocks that hold people back from having a growth mindset. These include fear, lack of confidence, fear of failure, fear of success, perfectionism, inertia, and not knowing what to do. By addressing these barriers, individuals can tap into their passions and find meaningful activities that bring them joy, after which, through the course they develop strategies to overcome these barriers.
In conclusion, Diane's personal inventory exercise and Udemy course on growth mindset offer valuable insights for individuals and organizations seeking to improve their lives. By addressing the six roadblocks and tapping into the joy that comes from finding meaningful activities, individuals can find their passion and purpose in their lives.
Timestamps:
04:13 Rebooting careers and hiring experienced professionals
08:42 Modern elder Academy and finding purpose and passion in midlife
13:54 Finding purpose and passion through self-reflection exercises
19:16 Self-awareness and personal growth
25:11 Self-reflection and career development
29:23 Growth mindset and overcoming obstacles to achieve success
Links:
Company website: https://www.rebootaccel.com/
Modern Elder Academy: https://www.meawisdom.com/
Udemy Profile: https://www.udemy.com/user/diane-flynn-2/
Books on Amazon
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Terry Roopnaraine, a technical consultant for international development projects, has been working in the field for about 25 years. He provides technical services to support projects funded by bilateral donors, UN agencies, and multilateral agencies like the World Bank. Over the last decade, an increasingly important area of the practice has been working with foundations.
Terry's work involves providing services that are required to make these projects work and deliver the best impacts on the ground for the beneficiary populations they serve. There is a huge accountability chain because these projects are often funded through the public purse of one country or another, so there must be some kind of proper accountability and evaluation.
The Role of a Technical Consultant
Terry talks about the roles a technical consultant might play. He divides his work into two broad areas: project implementation and management, and learning evidence and evaluation. The implementation side of technical consulting focuses on getting a project up and running, recruiting staff, putting in inputs, designing activities, and ensuring that things are run according to time and budget. The learning evidence and building the knowledge base aspect of technical consulting is also crucial, as it ensures that a program is delivering on time, not leaking funds, and has robust monitoring systems in place to capture change systematically. Evaluation of effectiveness is another dimension of technical consulting, as it is about delivering the best impact for the beneficiary population.
Research and Evaluation in Technical Consulting
Over his career, Terry has worked more in the research evidence and evaluation side of technical consulting, which is partly an artifact of being a refugee from academia.
His intellectual and academic orientation was research-directed, and when he moved to development work, he focused more on research evaluation and evidence building. One of his early projects was Conditional Cash Transfer Evaluations in Latin America, which were an aid instrument that aimed to incentivize uptake of health and education services. These programs were popular throughout Latin America and were easy to evaluate quantitatively. However, there was a growing awareness that the program's effects were not as expected. To understand why the program didn't have the expected effects, Terry began conducting ethnographic and qualitative research. He worked with other qualitative researchers to push the idea that understanding the voices of people who were benefiting from these programs was important. Terry talks about the projects he worked on during the early 2000s in Nicaragua, El Salvador, and Peru and how his background in anthropology influenced his approach, and how they conducted research differently from previous projects.
Challenges of Conducting Ethnographic Research
Terry explains the challenges of conducting semi-structured interviews for management consultants and how they approach this process. The interviews were conducted in a way that was more accessible to anthropologists than for management consultants. Terry talks about the process of conducting ethnographic research in a short training workshop format. He highlights the complementarity between quantitative research findings and qualitative research findings. Survey work is broad and generalizable, while qualitative research is done over a smaller sample and is more in-depth. For example, in Nicaragua, an iron supplement for children was given out for three years, but blood tests showed no effect. In the next round of community field research, the researchers asked questions about the iron sprinkles and found that it was commonly believed that the sprinkles had a terrible reputation due to alleged health risks, and no-one wanted to pass them out.
The Importance of Household and Nutrition Research
Terry also discusses the importance of household research in nutrition research. Household research is crucial because it helps observe people preparing food, feeding children, hygiene, sanitation practices, dietary diversity, and meal frequency. One example is in Cambodia, where an organization gave eligible families chickens to supplement their meat-poor diets with eggs and animal protein. However, people were not increasing their consumption of chicken and eggs, instead selling the chickens to buy bulk staples like rice. Recently, a project in Rwanda for UNICEF found that people living in resource-constrained circumstances are looking for bulk heavy foods, such as maize meal, sorghum, cassava, or rice, as the first thing they look for because they are concerned about financial or food security, and these foods provide bulk and store well. This approach allows for a deeper understanding of the issues faced by people in these communities. He discusses the importance of a sufficient and diverse diet for children, particularly under two years old, in remote areas.
Terry shares his experience with personal safety in various countries, including rural areas where he has worked. And while he has taken a Hostile Environment training course, he believes that shared humanity is the most effective safety mechanism, as most people have no desire to do harm. By being receptive, respectful, and engaging with people in a positive way, most places are generally safe.
Effectiveness in Development Aid and Philanthropy Programs
Regarding the effectiveness of development aid and philanthropy programs, he states that the appropriateness and relevance of a program to an area are crucial, as it should address specific needs in a direct way. He identifies how certain approaches are ineffective, and stresses that a direct relationship between needs on the ground and the program is more likely to succeed. The design of the program should be simple and efficient, as most successful programs are simple and straightforward.
The context of the program is also important. The more functioning the governance context, the more likely the programs are to succeed. For example, in Rwanda, a country that has experienced genocide, the efficiency of food distribution was impressive.
Terry talks about how initiatives worked in Rwanda and the importance of collaboration with government ministries to deliver health, nutrition, or education projects, as they are more likely to produce impact. However, in countries with weak governance, the government may not be a viable partner in delivering development programming. To scale up projects, the government must be involved.
Timestamps:
00:04 Technical consulting in international development
05:32 Technical consulting in development projects
12:35 Anthropological research methods in cash transfer programs
20:35 Ethnographic research methods and findings in global health
27:18 Food security, safety, and anthropology in various countries
33:18 Development program effectiveness with a development economist
Links:
UNICEF Ethiopia study: https://www.unicef.org/ethiopia/reports/unicef-generation-el-nino
Paper on El Salvador’s Conditional Cash Transfer program: https://www.tandfonline.com/doi/full/10.1080/00220388.2015.1134780
Paper on nutrition in Rwanda: https://onlinelibrary.wiley.com/doi/10.1111/mcn.13420
Study on Peru’s CCT in indigenous communities: https://publications.iadb.org/es/pueblos-indigenas-y-programas-de-transferencias-condicionadas-ptc-estudio-etnografico-sobre-la-0
Suggested readings:
Rossi, Lipsey, Freeman: Evaluation, a systematic approach (not terribly exciting, but a real wealth of evaluation info)
Olivier de Sardan & Piccoli: Cash transfers in context: an anthropological perspective (this collection contains an essay I wrote together with my collaborators on the Peru project)
Lewis, Rodgers and Woolcock: Popular representations of development: insights from novels, films, TV and social media (fun read, one of the authors is a good friend of mine)
Amartya Sen: Development as freedom (still a classic)
Paul Richards: Ebola: a people’s science helped end an epidemic (fascinating study, quite anthropological, of the community response to Ebola in Sierra Leone)
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
In this episode of Unleashed, Will Bachman talks to Jared Simmons, business consultant, coach, and speaker, on design to value. Jared defines the term ‘design to value’, offers examples of how it can be used, and talks about the various steps involved.
Using the example of a design to value playbook, Jared talks through each essential step that should be included.
Step one is defining value and creating a shared understanding of it. This involves getting everyone on the same page about the intended purpose. Understanding value involves both the company running the project and the end consumer of the product. The project's goals should be determined, such as cutting costs, making it more of a premium, or growing volume.
Step two is mapping out the value chain end to end, from materials to end use, and understanding the basic cost structures associated with each step. This ensures that the project is designed to value both the organization and the end consumer. Jared discusses the importance of mapping the value chain for a product or project.
Step three is understanding consumer priorities and preferences which is crucial in determining what they care about and are willing to pay for.
Step four involves mapping these preferences to each other, such as the cost of delivery or raw material(s).
Step five is creating projects and programs to capture defined value.
He emphasizes the need for a shared understanding of who is responsible for which steps in the value chain, including incoming raw materials, converting them into products, and the decision rights and responsibilities within those steps. He also highlights the importance of understanding how each person in a large company works with different materials and services, and what they are trying to accomplish within their roles, such as procurement, shipping costs, currency, and supplier selection.
Jared advises senior associates to understand high-leverage starting materials and manage them effectively to achieve cost savings. He emphasizes respecting the intelligence and effort of those involved in the value chain and not just looking at the price but also considering what makes the cost palatable for the procurement person and the rest of the organization.
Mapping the value chain is a crucial step in achieving cost optimization in a product or project. It requires a deep understanding of the decision rights and responsibilities within the organization, as well as respecting the intelligence and effort of those involved.
Internal and External Benchmarking
Jared discusses the importance of internal benchmarking in converting products across the entire value chain. He believes that external benchmarking can be problematic due to the lack of context on how other organizations reached their goals and the capital and labor involved. Jared suggests that internal benchmarks are more valuable than external benchmarks because they provide a full picture of what is driving each number.
In terms of understanding consumer preferences, he breaks down this into functional and psychographic segmentations. Psychographic segmentation involves the product's benefit and the belief about the product, while functional segmentation focuses on the features. To determine consumer preferences, he uses a combination of qualitative and quantitative research methods, such as one-on-one interviews, focus groups, dyads, and triads.
Quantitative research can involve concept-driven non-concept-driven questionnaires to gather quantitative data on consumer preferences. One-on-one interviews allow for depth and richness in understanding consumer preferences, while dyads allow for more nuanced responses from multiple people. Triads involve three or four participants, while focus groups typically involve 468 participants. Conjoint analysis is another method used to set up quantitative research that gets results. This method helps to understand the trade-offs between different product features and price points. In conclusion, Jared emphasizes the importance of internal benchmarking and understanding consumer preferences to successfully convert products across the entire value chain. By utilizing various methodologies and techniques, businesses can gain valuable insights into their target audience and improve their product offerings.
Reducing Product Cost while Maintaining Value
To determine which features people care about and will pay more for, Jared states that they need to conduct research on multiple dimensions. This involves building a functional prototype that people can interact with and react and respond to. He also mentions the importance of defining a north star to ensure all departments understand the direction. He mentions a few crucial steps, including: Integrating consumer research, supply chain knowledge, cost structure, and consumer preferences. It's not just about math; it's about prioritizing decisions across the entire value chain and ensuring that there is a qualified decision-maker on the job.
Jared runs a boutique consultancy that works in the innovation space and has worked on yogurt portfolios, sports/nutritional drink portfolios, and distribution companies for gas-controlled products, and they have worked with various industries. The team is focused on driving out cost while maintaining value in the product design process. By incorporating consumer research, decision-making, and external support, the team can create a more effective and efficient product. Jared discusses the importance of design to value programs in capturing cost savings and enhancing customer value. He explains how his company works, including services and typical costs savings.
To learn more about Jared's practice, he recommends visiting his website, Outlast Consulting, and LinkedIn. He also encourages listeners to contact him directly on his LinkedIn profile.
Timestamps:
03:00 Cost reduction and value optimization in product design
04:00 Five steps in a design to value playbook
12:24 Strategic costs in the value chain
13:07 Analyzing consumer preferences and product conversion costs
15:11 Internal benchmarking
16:51 Functional and psychographic segmentation
20:19 Using conjoint analysis for product design and cost reduction.
28:51 Cost savings in CPG industry through design to value programs
Links:
The company website: https://outlastllc.com/
CONTACT:
LinkedIn: https://www.linkedin.com/in/jaredsimmons/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Chad Oakley, CEO at the executive search firm at Charles Aris, discusses the current state of the consulting job market. He kicks off the conversation by explaining who Charles Aris is and what they do. Chad shares his perspective on three key areas: the market for strategic services, training Chief Strategy officers, and advice for Chief Strategy officers to make themselves more valuable in a down market.
The Market for Strategic Services
He states that the market for consulting services is currently down significantly due to the down macro environment. Major consulting firms like Bain, BCG, McKinsey, Deloitte, and Accenture have experienced a decline in revenues and project counts. However, they are hopeful that the current low watermark will lead to increased demand, but they are not seeing significant improvements just yet. The good news is that the need for strategy never goes away, and the market for consulting services is often a bellwether for how companies think about strategy these days. As the market continues to down, it is crucial for companies to focus on new and exciting strategic initiatives during downturns and outperform competitors when the market rebounds.
He explains that the consulting industry is experiencing a tight market, with more people on the beach than in the last five to five years. Consulting firms are implementing recessionary strategies, such as lowering bonuses, reducing annual raises, and slowing promotions. He talks about delayed start dates, takes a look back at 2023, and how the current situation compares to 2009 and how 2024 is shaping up. He explains that Chief Strategy officers from incorporations are hearing more about companies slowing down strategic projects, special projects, and extraneous growth initiatives. They are also concerned about layoffs and job security, so they want to be on the radar screen for potential opportunities.
Advice for Chief Strategy Officers
When there are fewer opportunities, Chief Strategy Officers still have the same tasks. He talks about a bright spot for independent consultants and that connecting with these individuals and offering contract solutions can help consultants navigate the market downturn. Private equity-backed companies tend to have more flexibility and are willing to spend money when it will help them make money. He recommends a variety of different companies to consider during this time. He also explains that during a downturn, Chief Strategy Officers (CSO) focus on short-term versus long-term initiatives. In a market downturn, companies tend to retrench to their core products and services, making it more risky for CSOs and consultants working on long-term projects. Instead, they should focus on projects that make a quantifiable impact in the short term, such as increasing revenue or decreasing costs, and focusing on core products or services. Chad mentions a few areas that are profitable in the short term.
He recommends that CSOs should also create more stability in their roles by taking on more than just strategy. This can include adding other functions to their responsibilities, such as corporate development and transformation initiatives or strategy and communication, AI. Chad also mentions how having a well-managed team helps promote a consultant's value to the company. CSO’s often become known as a feeder for future stars in the business, as they bring Rockstar talent to the company.
Functional Areas in the Current Market
The US is seeing more opportunity in industrials due to a significant onshoring movement and a slowdown in consumer packaged goods and retail sectors. This shift has created more opportunities for companies that are doing more manufacturing internally, with more growth in the industrial space, and they require more support. However, private equity remains a hot and heavy market, with deal flow decreasing. In 2022, the largest year of merger and acquisition deals in private equity history, and 2023 saw one of the lowest deal volumes due to the Fed raising rates and making money more expensive. Private equity firms are still seeking new talent for their portfolio companies, as they believe their existing functions are not reaching their full potential.
The Impact of AI on Consulting
The conversation revolves around the potential impact of AI on consulting and the types of AI-related projects or roles being discussed. Chad believes that AI is still a new concept, and companies are still trying to figure out how to use it effectively, consequently, it has not been adopted as a rule. However, Chad does share how he has used ChatGPT.
Integrating into a Private Equity Firm
Chad offers tactical advice on how to integrate into a Private Equity (PE) firm. He has completed searches for 100+ firms in the last five years, from top 10 global firms to mid-sized or smaller firms. Each firm operates differently, with deal side and portfolio operations groups responsible for identifying potential acquisition targets, valuation, negotiation, and landing the deal. He suggests that, to approach private equity deal people, it is essential to be specific about your skill set and the specific portfolio company you can help. For example, if you are an independent consultant with experience in vendor negotiation, you can use an email title like "Vendor Negotiation Experts for this Portfolio Company" to get the attention of the private equity partner. This will make them more likely to engage with you and share quantifiable success stories. When partnering with a private equity firm, they are constantly thinking about improving EBITDA by raising revenue, maintaining costs, or lowering cost structures. If you have direct experience in improving EBITDA at a business, they may be more willing to engage with you.
The Consulting Job Market in 2024
Chad talks about the current job market for full-time consulting roles in the United States. He looks back at statistics from 2022 compared with today. To pivot from contract consultants to full-time roles, he suggests identifying your spikes and ensuring they add value to the organization in the near term. This could include procurement studies, organizations, or vendor negotiations. He also emphasizes that most consultants have two true spikes that they can bring to an organization, and should focus on these areas. Chad talks about the current situation for the global market, but he believes that the first six months of this year will be bumpy, but the market will continue to move slowly and steadily. Chad believes that, whether seeking contract or full-time roles, individuals must be willing to put in more effort to achieve their desired productivity levels. Chad emphasizes the importance of positioning oneself well for a full-time role and how to articulate what they've been doing to achieve this. He believes that there is no time limit that would prevent someone from being a viable candidate for a full-time role. The number one fear clients have when talking about a contract or independent person is their utilization.
How Consultants Can Improve Their Resume and LinkedIn
To position oneself for a full-time role, he suggests having a good story of what they've done and ensuring that clients are happy to share their accomplishments, and demonstrating quantifiable outcomes in your resume and LinkedIn profile. A good resume should include numbers, such as increased revenue, decreased costs, improved cycle time, reduced inventory, and holding costs. As an independent consultant, it's important to have a website with case studies, white papers, or deliverables. However, if you don't have one, don't create one just for finding another job. Companies often think that someone is trying too hard by creating an entire website focused on finding another job.
How to Find an Interim Executive Role
Chad discusses the importance of interim executive roles in private equity firms. He has had conversations with operating partners and managing directors about the use of these roles, and they all agree that they are crucial for their organizations. The most common areas where private equity firms use interim executives are CFOs, finance specialists, and transformation. To position oneself for these opportunities, one can either work for firms like High Point Associates or reach out to organizations and say, "This is my spike," which can lead to an opportunity presented to them.
Board Positions for Consultants
Chad also discusses board roles. He states that board roles are easier to fill due to the demand for these positions. However, he explains what boards are looking for and offers a few suggestions on how to position oneself. He suggests that individuals should research the industry and consider how their skills and capabilities in the relevant space are applicable. By doing so, they can better position themselves for these opportunities and contribute to the growth and success of their companies.
Timestamps:
10:42 The consulting market and talent acquisition trends
13:13 Market trends for strategic services in a down economy
19:31 The state of the consulting market and its impact on corporate strategy
23:05 Strategies for Chief Strategy Officers in a market downturn
28:23 Trends and strategies for Chief Strategy Officers in a down market
34:58 Private equity market trends and deal flow
36:24 AI impact, consulting job security, and private equity firm partnerships
42:45 Reaching out to private equity firms for business opportunities
46:05 Job market trends and career advice for consultants
52:01 Transitioning from independent consulting to full-time roles
55:01 Resume optimization, interim executive roles, and positioning for job opportunities
1:01:23 Board roles and compensation for private equity firms
Links:
https://charlesaris.com/strategy-compensation-studies/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
The Umbrex Business Analytics Diagnostic Guide that is discussed in this episode can be downloaded at no cost here: https://umbrex.com/resources/business-analytics-diagnostic/
In this episode of Unleashed, Will Bachman and Adam Braff discuss the creation of a data analytics diagnostic guide. Adam, a former partner at McKinsey and a consultant on data analytics, discusses the importance of data analytics in solving business problems in any company or investment firm. He explains that a business analytics diagnostic is designed for organizations with multiple people, computers, and analytics processes. The goal of this diagnostic is to determine the performance and alignment of the data science or analytics function with the overall mission of the company. He explains the size and type of company that uses this and who would monitor and manage the data analytics of a company
The Diagnostic Guide Format Explained
The diagnostic guides follow a format with scorecards for individual pieces of an area, typically 15 to 25 different scorecards, and within each one, objective criteria ranging from nascent to optimized. These guides are divided into categories and subcategories, such as analytics strategy, data management, advanced analytics, AI, talent, decision-making process, tools, and infrastructure.
Adam explains the format of the diagnostic guide, beginning with top level categories including analytics strategy, strategic alignment, performance measurement, and future roadmap. Analytic strategy involves understanding the business objectives and problems to be solved, such as growth, customer retention, risk management, and problem-solving.
Strategic alignment also involves determining the location of analytics people, whether centrally located in a Center of Excellence or distributed across different functions.
Performance measurement involves tracking key performance indicators for the analytics function, such as cross-sell, revenue, pricing, and marketing ROI teams. Benchmarking this number against competitors can help determine if the company is on track and if it is underinvesting in analytics. Performance measurement also includes ROI, which is the understanding of specific goals and projects that the analytics team is working on. By tracking these metrics and reporting the total impact analytics has on the business each year, the analytics strategy part can be evaluated.
A Roadmap for the Analytics Strategy
Adam emphasizes the importance of having analytical people distributed throughout the business and dedicated resources for analytics initiatives. To round out the analytic strategy, it is crucial to have a roadmap of the next eight quarters, such as tackling Net Promoter Score analysis, customer satisfaction drivers, or adopting a new data management tool. This roadmap should include hiring and development strategies, cutting-edge innovation, and research, which can be revisited and changed strategies as needed. This helps ensure the analytics team is effectively working towards achieving their goals.
Data Management: Warehousing, Sourcing and Integration
Adam goes on to talk about the importance of warehousing, data sourcing and integration involving sourcing data from internal systems or external sources, such as customer satisfaction surveys or third-party surveys. This is crucial for asset managers who need to acquire data for investment analysis and decision-making. Automating data loading processes is also important, as it allows for efficient data flow. Business intelligence is another important aspect of data management, which involves creating interactive dashboards and alerts for all stakeholders.
Data quality is a critical aspect of data management, involving conscious decisions on the quality of data. More mature businesses have higher standards for accuracy, timeliness, and completeness of data, with constant profiling and monitoring to ensure data meets these standards. Data governance encompasses coordination across different parts of the business, ensuring consistency in data definitions, appointment and training of stewards, and governing data for regulatory and compliance purposes.
Advanced Analytics and AI-Driven Decision Making
Adam discusses the importance of analytics in a company's operations, particularly in areas like operational analytics and revenue. He highlights the need for centralized, advanced analytics functions that focus on predictive modeling, machine learning, and AI-driven decision making. These functions should be evaluated for their maturity and effectiveness. Another area of focus is AI-driven decision making, which involves how a company uses AI to improve operations. He goes on to talk about talent management and three main areas: people, performance, and technology and how these tools can be used in this area. Training and development are crucial aspects of analytics talent management. This includes understanding skill gaps within the team, designing a curriculum to fill them, and providing continuous learning opportunities. Internal or external certifications and specializations can also be beneficial.
Lastly, community engagement and collaboration are essential aspects of analytics talent management. This involves sharing knowledge with the organization, building collaboration, and engaging with external partnerships and networks. Adam explains how innovation and co-creation initiatives can help spur creativity and innovation within the analytics team. These efforts can be internal or external, pushing the envelope on innovation and ensuring the success of the business. Overall, analytics talent management is a critical aspect of a company's operations.
The Decision-making Processes in a Data-driven Culture
The decision making process involves three buckets: data driven culture, analytical decision making, and predictive decision making. A data-driven culture focuses on controlled testing of experiments and measuring things rather than relying solely on intuition. This includes tracking demand for analytics use cases, managing cultural change, and ensuring data accessibility and democratization. Analytical decision making starts with analytical frameworks and tools, such as customer lifetime value frameworks and CLV calculations. It also involves decision-making process integration, ensuring checks are in place before recurring functions occur to ensure data analysis is involved. Performance tracking and feedback are essential for comparing individual decisions made with data to the overall function.
Adam explains how and why analytical decision making is used, and how predictive decision making involves planning out budgets for next year, understanding macroeconomic impacts, weather, and operational and financial budgets. Predictive analytics can help manage various risks, such as customer numbers, macroeconomic impacts, and weather. Predictive data is used for strategic planning questions, forecasting sales, and risk assessment.
He explains how infrastructure scalability involves capacity planning and management, disaster recovery, and business continuity.
Analytics diagnostic guides can help organizations prioritize their future state and decide what they want to invest in. Consulting firms should consider the bigger picture strategic choices, such as whether they are a data-driven company or if it's not important to spend time and effort on data and analytics. Companies may also want to focus on specific examples of demand in the business that they don't know about today, which can help them make better decisions.
Data Analytics: Tools and Infrastructure
Adam talks about the various platforms that can be used, and how choosing a point along the continuum of low maturity, intuitive, data-driven, and algorithmic can help companies determine if they want to be more analytical or not. By understanding the needs and preferences of their clients and identifying areas for improvement, businesses can make informed decisions about their future state and investment in analytics. He talks about the importance of being able to integrate tools, scalability, fitting the needs of the business and customers, and the ability to customize the tools. Adam discusses the concept of a company's approach to building capabilities and whether they want to be an analytical firm or not, and which analytics will help the business. He suggests that companies should make strategic choices about centralized or distributed analytics functions, monetizing external data, and maintaining a high level of customer consent. He also suggests that companies should build these capabilities aggressively, gradually improving over time, and that companies should start with quick wins on important use cases and gradually build on more complex ones, such as marketing ROI models.
For listeners interested in learning more about his practice, Adam recommends visiting braff.co, which offers resources such as a blog, an annual forecasting contest, and programming course. He also mentions that he has taught this content in graduate programs at Brown and NYU and has started teaching a corporate version of the analytics intensive course.
Timestamps:
01:18 Setting up data analytics function in a company
07:02 Analytics Strategy and Measurement
12:52 Data management categories and sourcing
16:12 Data management, analytics, and AI in businesses
22:06 Managing and developing analytics talent
26:50 Data-driven decision making and analytics in business
29:13 Data-driven decision making and analytics tools
34:44 Data analytics maturity and strategic prioritization
40:17 Building a data analytics function for a business
Links:
Website: https://braff.co
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Tyler Cowen, author, economist and philanthropist, talks about the inspiration for his new book and the importance of talent identification in business. He believes that talent assessment is an art rather than a science and that institutions like the Florentine Renaissance, which had a competitive process for identifying talent, have been particularly good at this. Tyler also mentions the success of identifying American business talent in the Midwest during the 20th century. China has also done a remarkable job in identifying CEO talent in a world where almost no one had an MBA, and India is currently the single hottest blossoming talent spot. He discusses the trend of companies investing in spotting talent overseas, particularly for smaller companies. With the pandemic and work from a distance, the chance of hiring talent in Indonesia or the Philippines is much higher than it was just a few years ago. However, it is harder to evaluate talent in other countries due to cultural differences and difficulty in interpreting references. And while talent is evenly distributed around the world, opportunity is not. Companies need to adapt their strategies to better identify and mobilize talent, as well as invest in international talent identification.
Screening Applicants and Recruiting Talent Tips
The increasing trend of independent professionals entering the international market and the importance of investing in pre-existing networks of soft contacts, Tyler suggests that companies should focus on building talent scouts or people who can help navigate different geographies around the world. He shares an example of hiring an Indian person who is well connected in India through his blog and podcast, which serves as a filter for potential applicants, reaching the people who are already aware of the company and will take the first step of contact.
He also discusses the importance of screening applicants before the interview process, focusing on established track records, but with emphasis placed on behavior and actions taken and not merely words, and entrepreneurs who demonstrated curiosity and initiative, and those who can work independently but understand how they fit into a team. He emphasizes the importance of using soft connections to winnow down the field as much as possible. For the initial screening phase, Tyler suggests using pre-existing soft networks, such as those within the company or those who know them and can speak credibly about them. This approach is the highest yield way of approaching a problem where there are a large number of potential applicants and ensures that the candidate knows enough about the company and fits in.
Skills Assessment and Onboarding Talent
Tyler also emphasizes the importance of clear writing skills and how companies like Amazon and Stripe prioritize this aspect. He also shares a few tips to use during the interview process, and the use of practical exercises after the interview round, such as diagnostics or walk-throughs, to assess the candidate's performance. In terms of evaluating the talent within the company, Tyler suggests investing in high levels of trust and focusing on what can be done now to build trust with employees. He shares onboarding advice, and states that focusing on mid-year or annual evaluations is not always the best approach to assessing talent.
Advice on Conducting Business Internationally
Tyler shares tips on how to travel and learn about a place. He suggests walking a lot, even in places not in guidebooks, and speaking to a broad range of people. He also advises buying a physical guide book in advance and reading it, as people rely too much on the internet when traveling. Tyler also uses soft networks to connect with people who may be readers or people living in that area to help him. He shares a few stories of philanthropic adventures, including one example of a successful small venture is Timothy, a Ukrainian American economist. He discusses the idea that successful small ventures are often made up of people who are similar in personality types, such as early PayPal, Peter Thiel, Reed Hoffman, and Elon Musk. While this idea may not be radical, it is true that some things work well when people are cut from the same bolt of cloth.
In summary, Tyler emphasizes the importance of building a soft network and connecting with people who can help him in various ways. He also mentions that some successful small ventures are made up of people who share similar personality types, which is not necessarily radical but is sometimes not always true. He talks about the concept of status quo bias and how Americans are moving less frequently. He shares his experiences with starting new projects, such as Marginal Revolution University, which is now the number one economics education site on the internet. He also talks about the importance of finding mentors, current funded projects, and future collaborations.
Cracking Cultural Codes and Conducting Business Internationally
Cracking cultural codes is an important aspect of understanding a culture. Tyler shares an example of how traveling to different countries helps bond with people and understand their thoughts and feelings. He believes that showing genuine interest in a country's culture can help break down barriers and encourage more ambitious individuals. A high leverage act is to raise someone's ambition. He also discusses the importance of not being too polite when evaluating someone for fellowship and believes that showing genuine interest in a country's culture can help break down barriers and encourage more ambitious individuals to pursue their passions. Tyler goes on to discuss how business is portrayed in the media and the value of management consulting and how the value of ideas underpins the entire enterprise. He emphasizes the importance of fluency in the English language and the development of a strong business culture. As an economist, Tyler also provides insights into the relative ability of management at a country level. He explains that management is better in some countries than others and how it changes over time. He also identifies the business scene of various countries on the rise, and how Danish business is different from American business.
Hiring Tips and Advice for Parents
Shifting back to hiring, Tyler emphasizes the importance of screening for resourcefulness and relentlessness in interviewing. He suggests that older individuals should be considered due to their track record and ability to capitalize on their full market value, and suggests taking note of “weird interests”, and looking for the level of detail in answers. On family life, he shares his advice for parents on how to help develop talented kids, emphasizing the importance of encouraging curiosity and deep interests. He advises parents to introduce their children to their talented friends, allowing them to explore different professions and interests on their own.
Tyler's objective function is to become an information trillionaire, which may not be possible at the moment. He wants to learn as much as possible about various topics, such as economics, history, social science, travel, language, culture, food, business, political science, and World Affairs.
Timestamps:
05:12 Talent acquisition strategies and screening processes
13:10 Hiring and onboarding processes for talent
18:07 Travel, talent assessment, and philanthropy
24:31 Creativity, innovation, and personal growth
27:40 Mentorship, cultural codes, and raising ambition
33:30 Business, media, and consulting insights
39:18 Business cultures, thinkers, and productivity
43:55 Writing habits, productivity, and lifestyle
Links:
Website: https://marginalrevolution.com/
Book: https://www.amazon.ca/Talent-Identify-Energizers-Creatives-Winners/dp/1250275814
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
In this session, Will Bachman and Tiago Forte discuss Tiago’s new book Building a Second Brain. They discuss how the concept provides value and work through each key learning aspect, the importance of using note-taking apps, including CODE and Para. Tiago talks about the background that led to the creation of the book and how it was strongly shaped by his experience in consulting.
Tiago shares his background as a junior project analyst at a boutique consulting firm called FaberNovel, where he learned the business model of consulting. Consultants are rapid learners, learning new things about the market, landscape, competitive arena, and internal aspects of clients. They must learn the client's culture, power structure, priorities, and communication preferences quickly and use as few billable hours as possible. Tiago emphasizes that consultants must bring their best thinking to the table every day, as they are being paid to think. The results of their efforts are based on the quality of their thinking. He explains that once they learn a subject, they must apply it to as many projects and clients as possible to be profitable as a consulting firm.
Absorbing, analyzing, and applying creative thinking to the client’s problem is the overall triangle, but within the bigger picture are many time consuming and expensive research branches, each of which must be understood and analyzed at speed. Gathering, keeping track of and accessing the information needed – quickly – is essential, and this essentially begins with note-taking.
The Development of the Knowledge Repository
Tiago started taking notes professionally, realizing that his effectiveness as a professional and results for clients, in addition to quality of life depended on his ability to be efficient.
He talks about the development of the principles in building a second brain, and how they can be applied to management consulting assignments, such as market landscape studies, focusing on the client's culture, power structure, priorities, and communication preferences. By doing so, consultants can improve their effectiveness, results, save time, and ensure quality thinking again and again.
He discusses the core principles of creativity and how they can be repurposed for various purposes. He shares his model, CODE, which is a simple framework designed to be universal across any profession. He outlines each stage of CODE. The first step involves capturing ideas and knowledge in various formats, such as photographs, sketches, drawings, text, and web bookmarks. Once captured, it is organized into groups based on the project, client, or aspect of the business. The next step is distilling the information into its essence, refinement, and synthesizing it into main takeaways or highlights. This process is essential for finding the signal in the noise of information, which is crucial for effective note-taking. The final stage is express, where the knowledge is shared in various forms such as writing, speaking, presenting, designing, building, launching, publishing, sharing, and selling.
Tiago suggests that people should start by capturing their thoughts and ideas, and recommends tools like Evernote, and other note-taking apps. He also mentions the Second Brain Resource Guide, which provides resources and a comprehensive list of links, tools, and apps for capturing information, including saving quotes from podcasts, transcription tools, and includes a few tips on using Kindle and YouTube.
In conclusion, the core principles of creativity and note-taking are essential for effective note-taking and knowledge management. By following these principles, individuals can create valuable content and share their knowledge effectively.
Communication Skills at Work
Tiago emphasizes the importance of distilling notes to retain their essence. He explains that humans are sensitive to the presentation of information and explains how even small changes to a website can have significant impacts on people's behavior. He suggests a method called progressive summarization, which involves highlighting key points or elements that matter to the reader.
He explains that when taking notes, it is essential to focus on the highlights that resonate with the reader and make them feel more connected to the content. This approach helps readers remember the important details and make better decisions about how to present information.
Tiago also discusses the concept of progressive summarization, which involves highlighting key points or elements that are important for lifelong learning as opposed to a short term project. He shares a tutorial on how to do this on his blog and talks about how to select necessary information and what should be set aside. He talks about how your personal energy levels affect note-taking and how to use the second brain approach on bad days to maximize potential outcomes and save energy for higher level decision-making processes. Tiago also introduces the benefits of using intuition and how to apply it.
Tiago explains the generative effect, which refers to the idea that once you start publishing or creating content, you get more ideas and better ideas, and shares his own journey of having a scarcity-driven view of creativity. However, he states that creativity is the opposite; the more you use it, the more you express it, and put it out there, the more it generates. He emphasizes that, by practicing intuition and embracing the generative effect, you can improve your decision-making, creativity, and wisdom in the real world.
Tiago runs through how he uses Evernote and how he creates clear separation and distinctions between his first and second brains, making it easier to focus on one task at a time. He talks about organizing and distilling a large amount of material into a final published or significant piece of content. He explains the framework PARA and how he uses it.
Q & A Session on Building a Second Brain
In the Q & A session, Tiago answers questions on the following topics:
- Dealing with analysis paralysis
- How to segregate material
- Identifying the basic building blocks
- The value of taking two notes a day
- Reshaping knowledge
- The paradox of research
- Categorization of notes
- This philosophical mindset question
Links:
The Second Brain website: https://www.buildingasecondbrain.com/
Forte Labs blog: https://fortelabs.com/blog/basboverview/
Email: https://fortelabs.com/subscribe/
Timestamps:
07:46 Creativity and productivity using the "code" framework
12:55 Capturing information and building a second brain with Evernote and other tools
17:24 Audio rep revolution, video revolution, and distillation techniques
24:46 Designing a note-taking system for productivity
29:27 Creativity, note-taking, and a second brain system
35:14 Capturing and organizing creative ideas using a second brain
40:20 Organizing notes and creating content
45:28 Organizing notes and research without attaching them to specific projects
53:09 Building a second brain through note-taking and organization
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
In this episode of Unleashed, Melanie Espeland talks about the importance of using one's voice to make a powerful first impression. Melanie, an executive coach and life coach, shares her structure for building an executive presence. The structure includes two pillars: the literal (physical world) and the figurative (mental and emotional world).
Voice Is The First Impression
The literal pillar focuses on the speaker's voice, which includes nonverbal communication, posture, and body language. The figurative pillar includes authenticity, confidence, and vision. Authenticity is crucial as it involves being connected to oneself and having clarity about who they are and how they want to show up. Confidence is separate from executive presence as it involves believing in the effectiveness of their actions and their ability to connect with their audience. Vision is influenced by watching great leaders speak and media training work, and it involves articulating one's thoughts, needs, and future focus or thesis in a clear, consistent, and well-understood manner. In summary, Melanie emphasizes the importance of using one's voice to make a powerful first impression in various aspects of life. She provides a series of voice exercises that can be done at home and offers tips on how to use one's voice to make a powerful first impression. By understanding and practicing these techniques, individuals can build their own executive presence and improve their overall professional image.
Voice Exercises - Training the Tool
Melanie jumps into the exercises to demonstrate how they work. One important exercise is warming up the voice, starting with humming the sound as an H. This will help with projection and open up the mouth for the arm. The speaker also suggests doing a simple vocal warmup, such as a e Oh, ah, to start articulating around the mouth, tongue, and facial articulators. She compares the voice to an instrument, and the body is an instrument, and the voice is the sound it creates. To tune up the voice appropriately, the speaker suggests stretching beforehand to avoid injury or muscle hamstrings. Melanie also emphasizes the importance of giving the jaw and tongue muscles a little bit of love and attention. She suggests using a lion and mouse exercise to warm up the face and facial muscles, making them small and tight, and then expanding them. This helps the face constrict and expand, working those muscles and wake them up. The jaw needs a little bit of love, as the jaw and tongue are the most overworked muscles when it comes to speaking. To relax the jaw, the speaker suggests yawning or letting it relax naturally.
Melanie explains the importance of a vocal warmup, which can range from two minutes to an hour, depending on the individual's needs and skill level. She suggests building this routine into your daily or every other day routine, making it whatever length works for you. She also shares specific exercises that can elevate your voice, such as tongue placement. One of the most surprising exercises is the tongue placement exercise, specifically for American English. This exercise is specific to American English speaking and is not necessarily accurate for other languages.
Melanie demonstrates different placements of their tongue, such as the back of the mouth, middle of the mouth, and front of the mouth. She demonstrates how different they sound with their tongue in different general placements and encourages practicing these techniques over time to improve their voice and feel more confident and comfortable speaking.
In conclusion, building in a vocal warmup is essential for both personal and professional success. By practicing these exercises, individuals can enhance their voice and become more confident and effective in their communication.
Developing The Mind-Body Connection
Melanie explains how to create a mind-body connection, using your fingers to direct your body and physically move your tongue where it needs to be. Practice at home by reading text with your tongue in different placements, especially forward, to gradually move your tongue forward. Use the TH sound to prompt forward placement, such as using a sentence like "They thought the thesis was thorough." This exercise is great for diction and tone placement. In American English, the TH sound is sometimes mistaken for the D or F sound, so be aware of this and differentiate between the two sounds. Use all three sounds in a sentence to make distinctions between them. For example, "The thoughtful dog dodged a fiery thicket" can help ensure you are working on tone placement and overall diction.It is also important to think about other ways to improve your sounds and diction, such as identifying and working on challenging sounds like W, S, and F sounds. This can be done by asking friends or family, listening to yourself or a recording of yourself speaking, or listening to yourself or a recording of yourself speaking.
Improving Vocal Range
Melanie shares her experience with a large vocal range, which can be quite low for a female voice. She attributes this to her proper training and attention to detail. However, if she is not properly using her body or breathing properly, she can sound very different. Melanie emphasizes that both genetics and practice play a role in her vocal range.In society, a lower-pitched voice is often considered more authoritative, but this can be achieved through proper breathing technique. Melanie suggests starting with more simple texts and gradually moving up to more challenging ones. She offers several tips to practice and improve one’s vocal range. Female voices tend to be higher, resulting in a more warmth and friendliness. This can be a secret weapon when used appropriately. To achieve this, exercises like tongue placement and breathing exercises can help. Tongue placement helps sound more precise and formal, making individuals more confident. Breathing exercises help deliver more grounded and authoritative sounds. The key is to use your feminine voice to your advantage and incorporate other tools to enhance your authority and sense of knowing. Using a quick breathing technique can help maintain a balance between warmth and authority.
Breathing Techniques
Melanie goes on to explain the importance of proper breathing technique in singing. She emphasizes the importance of using the diaphragm, a dome-shaped muscle that interacts with the ribcage and respiratory system, to create sound. Breathing deeper into the diaphragm allows for more air to be absorbed and expelled.
She suggests practicing by placing one hand on the belly and the other on the chest below the collarbone to double check if the diaphragm is engaged. This exercise helps build awareness of how to breathe and how much air is being brought in and out of the body. It may take some practice to feel comfortable with this exercise, but it is essential to understand how your body is working and how to engage the diaphragm. Over time, the goal is to get more air into the body, breathe slowly, and use more air when exhaling and speaking.
For those who have asked about pitch, speaking lower, or speaking more slowly, this exercise is a great way to start working on these aspects. Additionally, it is relaxing, making it an ideal practice for those with stressful days or big presentations.Melanie emphasizes the importance of proper breathing technique in singing, particularly in terms of utilizing the diaphragm. By practicing this exercise, individuals can become more aware of their breathing and control their breath to create sound. For exercises to avoid trailing off at the end of a sentence and to avoid raising your voice at the end of a sentence, she suggests working on breathing with your diaphragm to have more air to express yourself and move through sentences with the same emphasis and volume projection, and she explains the importance of improving breathing and voice quality to eliminate nasal quality.
Melanie Espeland, a former McKinsey consultant, is now a PCC ICF certified coach. She has worked with Olympians, influencers, and executives on their speaking and executive presence. Espeland loves working one-on-one, as it allows for the biggest impact and value.
Timestamps:
00:10 Using voice to make a powerful first impression
01:29 Voice and executive presence coaching
04:19 Improving executive presence through voice exercises
09:23 Vocal warm-ups and facial articulators
15:11 Yawning and jaw relaxation techniques
18:34 Vocal warm-ups and tongue placement for better diction, projection, and likability
25:19 Tongue placement for clear speech
30:49 Improving diction and vocal range through exercises
36:28 Voice coaching techniques and breathing exercises
39:07 Using breathing techniques to improve vocal authority
44:26 Breathing techniques for better speaking
50:35 Improving public speaking skills and breathing techniques
Links:
Website: https://www.melaniesespeland.com/
Email: melanie.espeland@gmail.com
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
In this live event hosted by Umbrex in November 2023, Ron Lumbra, a member of the CEO & Board of Directors Practice and Partner at Heidrick and Struggles, discusses how to get on a corporate board. He shares insider knowledge about the process. The event was recorded as a streaming event, with approximately 300 people signing up for the session. The discussion was facilitated and included questions from attendees.
Exploring the Landscape of Board Roles
The discussion focuses on the different types of board roles, such as Fortune 500 companies, other public companies, PE-owned portfolio companies, and family-owned companies.
The top of the pyramid is the public company corporate board, which is the most sought-after and difficult to join. People often serve on various types of boards, such as large-cap corporations, smaller publicly traded companies, private companies, family businesses, and nonprofits. These boards have similar structures, committee structures, and skills matrix, making them valuable ground training experiences for those looking to join corporate boards. A board is a group of experienced business people who are responsible for running and governing a company. It is not just a group of smart people, but specific roles that a board seeks to fill. He identifies the difference of a philanthropic board. When searching for a board member, companies often seek specific skills, such as financial experts with experience in China, supply chain, or being female. Ron talks about a typical board structure and defines the importance of what a candidate can bring to the board. The board consists of about 10 people, with four or five members fit into the CEO club or those who have run a big business club. The number one in demand skill set is financial experts, with three seats focused on audit and finance committees. The number one skill set is CFOs, while the other three are controllers, treasurers, VPs, SVPs, or audit partners from one of the big four. Companies are also looking for leaders in certain fields at specific times. Generally at present, their expertise in cyber and AI, supply chain, and ESG areas are in demand. Supply chain has seen a surge in demand, especially during the pandemic. Boards are looking for people who can lead, guide, and help with challenges they may face. They create a skills matrix to identify the various skills needed, which is more than the number of seats. People who can check more boxes credibly tend to be more attractive board candidates.
The Benefits of Being on a Board
Ron explores the reasons people want to be on a board and the benefits they receive. Operating executives with a day job often go on boards to expand their skill set, gain an outside perspective, and learn from others in different industries. As they age, they may consider a different career path and seek ways to contribute, give back, stay engaged, and stay relevant. Age plays a significant role in the decision-making process, as board directors are not employees and are not discussed in the proxy board. Boards typically have a mandatory retirement age of 72-75 years, which varies by company. People usually go on boards in their late 50s or early 60s and have a decade or more of tenure before they age off.
Ron also discusses the reality of being on a board in terms of time and commitment. Being on a board is different from being an operating executive, as it is intense and socially intensive. Board culture and how the board functions come together and go apart are important factors, both experience, personality and cultural fit are all factors considered. Board meetings are usually held five times a year, with committee meetings often occurring around them. Ron shares information on payment for board members and how to position oneself to get on a board, particularly at the non-finance 500 level.
Securing a Invitation to The Board
He explains that the supply side of the board opportunities is what attracts candidates, and understanding one's skill set, industry expertise, strategic acumen, and expertise is crucial.
Ron also highlights the private placement market, where 40% of corporate directors are placed through relationships. This can be an advantage for candidates, as they are paid to introduce competition. However, the private placement market is less competitive and more about networking and making oneself known.
Joining a board is akin to joining an elite country club, where applicants must demonstrate their knowledge and expertise. Networking is more about making yourself present and well known, rather than trying to make a sale. It's important not to take it personally, but rather to understand how the game works to get on board.
Ron encourages people to focus on networking, letting people know their skill set, and having the courage to differentiate themselves. Many people answer yes to every question and bring various skill sets, but this may not be memorable or distinctive. People who have the courage to say they know banking, regulation, and Washington can become extraordinarily memorable.
Trends and the Changing Focus of Companies
Ron talks about the trends in diversity goals and the changing focus of companies. He highlights the importance of women on boards and the momentum of advocacy groups around women on boards. The pandemic in March 2020 led to a shift in focus towards ethnic diversity, with a two-year window of intense focus on black directors and Latino Asian directors. Today, there is still an interest in ethnic diversity, but most boards are working hard to address the issue. Advocacy for women on boards is now focused around 30%, partly from shareholder advisory groups and exchanges. Some boards are advocating for at least 30% women on boards. Diversity matters have changed significantly over the past decade, with a period from 2020 to 2023 when companies focused on diversity, leading to a pent-up supply of non-diverse CEOs being called on boards. The market is now recognizing the importance of diversity in addressing societal constraints and positioning companies effectively.
Ron shines a light on the importance of understanding the unwritten rules of board roles and how they impact a candidate's authenticity and legitimacy. He emphasizes the importance of addressing governance matters, as it can impact a candidate's authenticity and legitimacy. He suggests that exposure to governance can come in various ways, such as attending board meetings, working with the audit committee, or working closely with members of the compensation committee. This exposure can demonstrate knowledge of board culture, functioning, agenda, and what matters within a board.
Understanding The Board Environment
Ron talks about the importance of understanding the board agenda and what matters, and why it is so difficult to secure a position on the board. Boards create a high bar to ensure that candidates understand their roles and culture, and that they don't bring on disruptive or underperforming individuals. By addressing these issues, candidates can demonstrate their commitment to good governance and the importance of understanding the board environment.Business schools and the National Association of Corporate Directors offer board directors certification programs, which can be helpful for getting on a board. However, it is important to not oversell these programs, as they may not provide the necessary knowledge and experience for decision-makers. Participation in these programs can make individuals more knowledgeable and contemporary in governance topics, making them better interviewers or interviewees.
A Focus on Governance
To demonstrate a commitment to governance, one can get on a nonprofit board. The type of nonprofit and the specific role on the board should be determined by the individual's passion for the subject matter. Nonprofit boards often have committees that align with the individual's interests and skills. For example, financial experts might be better suited for audit or finance committees, while those with expertise in governance may find the Governance Committee beneficial. Engaging in committees is where the work happens, and it is crucial to find a committee where you can grow and develop. This can lead to being tapped into a corporate board, as people will see you as a leader and a greater amongst equals. Boards are typically staffed over a decade, so it doesn't have to happen on the day you join. If you like the mission, theme, and value add, you will find yourself on committees, running committees, or chairing the board.
Vetting Candidates for Board Positions
When talking about the process of vetting candidates for board positions, Ron explains that it is divided into two categories: formal and informal. Formal vetting involves light off-the-record background checks, such as FBI police records and business references, to ensure a good understanding of the candidate. The process also includes back channel conversations with board members, who may have connections to the candidate. It is important to understand that every person you interact with or have worked with in the past is a potential candidate, and it is crucial to be aware of these back channel calls. Executive search firms fill about 40% of roles, and it is essential to ensure that candidates are aware of their interest. To do this, resumes should be on file with all major firms, as they are centrally administered and managed. This makes them a shared asset in the board database, which can be used to identify potential candidates for new searches.Joining a board of directors can be lucrative for younger professionals in their 40s-50s. However, it is challenging to position oneself effectively in these roles due to the value placed on experience and life experience. The average age of a first-time director on a publicly traded larger cap board is 58, so it is crucial to understand the circumstances in which you will be effective on the board. Ron shares an example of a public company CEO who overstepped the boundaries of his role as a board member, leading to a crash in his candidacy to illustrate that it is important to think carefully about your involvement and what you bring to the table before you commit to a board position.
Timestamps:
00:02 How to get on a corporate board with an insider
05:00 Board composition, skills, and motivations
10:14 Board service for executives nearing retirement age
12:40 Board positions and their requirements
17:01 Networking, marketing, and diversity in boardrooms
20:18 Board diversity and governance expectations
26:50 Board director certification programs and their value
28:50 Board governance and interview process for nonprofit boards
34:49 Board membership requirements and vetting process
38:06 Board member compensation and background checks
44:05 Board positioning and vetting process for executives
49:15 Board advisory roles and expertise
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
In this interview, author Jill Stoddard and Will Bachman discuss the concept of impostor syndrome. Jill defines the experience as a state where individuals question their competence and legitimacy, even when there is objective evidence to support their accomplishments. The fear is that they will of be outed as a fraud. The phenomenon was officially identified in 1978 by Pauline Clance and Suzanne IMEs, who believed it only existed in high-achieving women. However, culture rebranded it as a syndrome which Jill addresses.
The Background on Imposter Syndrome
Jill believes that the imposter phenomenon has been around for a long time, with prevalence rates averaging between 40 and 70 percent. She suggests that it has been present in early humans, who, when part of a tribe, had a survival advantage due to social comparison and fear of being ousted from their tribe. Early humans engaged in social comparison to ensure they didn't get kicked out of their tribe, which was often a life-or-death situation. The modern world, with technology and social media, has created a context where this issue has been amplified. Jill calls for a cultural rebranding and a redefining of the impostor phenomenon or impostor experience.
This phenomenon has not been extensively researched, and it is important to know that most discussions focus on hypotheses rather than empirical questions. However, research suggests that these impostor thoughts and feelings are positively correlated with success, making the more successful an individual, the more likely they are to have these feelings. Jill discusses the complex reasons behind this phenomenon, including the assumption that others are more competent than they are, the Dunning Kruger cognitive bias, and social and cultural influences. She mentions that in the 70s, when this phenomenon was thought to only impact high-achieving women, it was rebranded as sexism. Her hypothesis and others have suggested that people who have experienced marginalization, such as being told they don't belong in male spaces, or being told they don't belong in white spaces, are more prone to experience imposter syndrome.
Understanding Imposter Syndrome
Jill asserts that it is important to recognize that the more we know and the more we believe others are competent, the more likely we are to feel impostor syndrome. Additionally, it is essential to acknowledge that the stigma surrounding this experience is often perpetuated by those who have experienced marginalization, such as women, people of color, and gay individuals. Jill mentions that impostor syndrome can negatively impact career success, and that it is important to recognize that this is a systemic and organizational issue rather than an individual problem. She believes that individuals should be given tools to manage their feelings and self-doubt, such as psychological flexibility, to overcome this state of mind. Psychological flexibility involves being present in one's life, aware of and open to all internal experiences, emotions, physiological sensations, urges, and thoughts. This allows individuals to make choices based on their deeply held personal values and who they want to be. The goal is to cycle and build psychological flexibility by identifying your values, recognizing the way thoughts and feelings get in the way of you heading in that direction, and changing your relationship to these thoughts. Additional approaches to dealing with impostor syndrome include seeking advice from others, such as talking to other speakers or CEOs, and understanding why they feel that way. Jill shares a strategy for book authors.
Approaches to Dealing with Discomfort
Jill discusses various approaches to dealing with anxiety and self-doubt, including comparing oneself to others, enjoying one's position, treating failure as an opportunity to test something out, and accepting that we are built to avoid uncertainty. She emphasizes the importance of learning to be okay with uncertainty and taking risks in order to spread their message. Jill explains the loop that people get stuck in, and that our brains overestimate the likelihood of bad things happening, and underestimate our ability to cope with it. She suggests testing out new experiences and being willing to do hard things in the presence of pain. She also emphasizes the importance of treating the imposter experience as a learning experience and acknowledging that most people are not paying attention to you. The key takeaway from the conversation is to get comfortable being uncomfortable and to stop letting thoughts bully you into behavior. She suggests getting clear on your values and how you want to live and work. She uses the metaphor of a ship on a journey, where the fog of thoughts and feelings can be dangerous but can be overcome by dropping anchor and waiting for the fog to pass. Jill suggests using a lighthouse, such as a beacon, to guide you forward even when the fog of painful thoughts and feelings is present. By having your values as a guide, you can continue moving forward on your journey, even if it is slower and more scary.
A few other tactics Jill suggests are taking cold showers, brushing teeth with non-dominant hands, eating foods that don't appeal to you, watching sad movies, and allowing yourself to feel uncomfortable. By practicing being with your discomfort, you can make space and open up to feeling it. There are various exercises to practice this, such as crossing your legs or hands in the Funny Feeling way. These activities help you learn that these feelings are temporary and not harmful.
The Cost of Being Human
Additionally, she stresses that it is important to understand that thoughts are not facts, and don’t let your thoughts bully you. She suggests creating distance and making values-driven choices. Two simple ways to do this include taking a thought that gives you trouble and noticing how it feels. This metacognition helps you recognize that these thoughts are just thoughts in your head, not reality. Another way is to give your inner critic a name, like "Sheila" or "no," which keeps it separate and allows you to make different choices. By focusing on the discomfort and the fact that thoughts are not facts, you can create a space where you can make values-driven choices.
Jill talks about the concept of pain as a cost of being human, but how we respond to it is a choice. If we resist, we create suffering, while if we turn down the resistance, we turn down the suffering. Jill also mentions her website, which has resources like a quiz and three tips to living a mighty life. Jill shares two quizzes on her website: one to identify your subtype of imposter, which includes perfectionists, experts, and avoiders. She also discusses different ways we tend to avoid, such as being the doer and avoider.
In summary, Jill discusses the themes of inner critics and the importance of self-awareness in overcoming imposter phenomena. She encourages listeners to share her resources on her website and share her insights on the topic.
Links:
Website: www.jillstoddard.com
The quizzes: www.jillstoddard.com/quizzes
The clinic (The Center for Stress & Anxiety Management): www.csamsandiego.com
The podcast (Psychologists Off the Clock): www.offtheclockpsych.com
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
William Magnuson, a professor at Texas A&M Law School and former Harvard University professor, discusses his book For Profit: A History of Corporations. The book covers eight different corporations throughout history, illustrating different facets of corporations. William chose these eight corporations because they were relevant to the modern world and their importance in shaping society. He aimed to explore the origins of corporations, focusing on foundational moments in corporate law, such as ancient Rome's tax-gathering entities, and the Medici bank. He talks about how studying corporations over 2000 years brought to light trends and why today’s citizens are more impacted by corporations than at any other time in history.
William considered including the Soviet Union, which was one of the world's great experiments in trying to structure and economy without corporations. However, he did not include any consumer packaged goods or retail companies on the list. He also considered researching other major tech companies like Apple, Google, and Microsoft, but ultimately chose not to include them. He also considered adding Japanese corporations, as there is a long history within corporate law scholarship that has similarities with US law but also some major differences. He highlights the importance of understanding the legal concept of corporations and the evolution of their features over time. He also acknowledges the potential for further research into other cultures and corporations, such as Japanese corporations, which could provide valuable insights into corporate law scholarship.
Common Characteristics of the Modern Corporation
The concept of a corporation has its roots in various ancient cultures, including the Incas, Chinese, and Japan. Europe was largely based on the Roman model, which outsourced government services to private individuals or organizations. This model was copied in Renaissance Italy and eventually moved up to the joint stock era in the 1600s. Japan has a long history of large conglomerate organizations, which are family-oriented and have evolved over time. The American corporation is largely based on the European tradition. Some common characteristics of modern corporations include limited liability, professional management class; single entity operation, and immortality, where a corporation never dies or ceases to exist, unlike partnerships, which end when one partner dies. This is important because historically, partnerships ended when one partner died, which was problematic for tax gathering in ancient Roman republics. Corporations are immortal, meaning they continue to exist even after the death of a single member or stockholder.
The Birth of the Corporation
The Roman Republic's Fabian strategy, which involved avoiding set battles and using private enterprise, played a significant role in the creation of corporations. In 218 BC, during the Punic War between Rome and Carthage, the Roman commander Cornelius Skipio wrote to the Senate, asking for supplies to continue the war. The Roman senate ran out of money, they made a plea to Roman citizens for support, and in return they asked for several terms, and this led to the idea of private enterprises as a solution to the problem, and legal rights for specific entities.
In the Roman Republic, corporations had to have certain institutions in place to function effectively. These institutions included the Senate passing laws, corporate attorneys, banks, and other infrastructure. The rule of law was crucial for these entities to thrive, as it allowed them to enforce contracts in court. This rule of law was a key factor in the rise of the corporation in Renaissance Florence, where fragmented policies and conflicts between duchies, barons, kingdoms, empires, and city states were prevalent. The Medici bank, for example, created a rule of law within the city of Florence, creating separate entities with 15 branches, each serving as its own entity. This allowed them to create a rule of law in a world that didn’t have it.
Cities and Religious Organizations as Corporations
Religious organizations, such as monasteries, were also considered corporations, but they were not in the same line of business. Cities, on the other hand, were outliers in the history of corporations, as they sought to protect their liberties and rights. Cities were able to benefit from incorporation, as they were protected by the Magna Carta. Corporations are flexible entities that can be used for various enterprises. William explains the element of limited liability, which is a fascinating element of corporations. It provides risk protection for owners, allowing them to gather capital and launch larger enterprises. However, the concept of limited liability was not always clear, and some statutes are still ambiguous. For example, the East India Company, which was one of the first corporations to adopt limited liability, was a case study that illustrates the importance of limited liability in the early years of corporations.
Early Ideas of Governance in Corporations
William discusses the concept of governance in corporations, focusing on the separation of owners and managers and how to align them. This separation is crucial for modern corporations with hundreds of thousands of shareholders, as it prevents conflicts between managers and shareholders. One example of this is Ford Motor Company, founded by Henry Ford in the early 1900s. Ford was known for his fiddling around and raising money from wealthy investors, but faced criticism from shareholders who were concerned about his financial performance. This led to a conflict of interest between Ford and his shareholders, which eventually led to the foundational concept of fiduciary duty in corporate law. William also discusses the history of shares trading hands, mentioning that in ancient Rome, there were physical certificates representing stock ownership. However, there is little evidence on the exact structure or form of the stock market. Today, the system is moving towards an electric electronic system, making it more complex. William teaches a class on the settlement of trades, which is one of the main focuses in FinTech and other research interests. He also discusses the evolution of the stock trading system, highlighting the importance of understanding the complex nature of the process of trading shares.
The History of Corporate Advisors
William discusses the history of corporations using professionals outside their four walls to advise them. He cites KKR, a private equity firm, as an example of a corporation that uses an ecosystem of professionals to help it operate in the world. The role of these professionals has become more important as corporate law and the corporate form become bigger and more complicated in the modern world. Institutional investors have also played a role in the venture capital industry, often spearheading companies with the interests of venture capitalists. Facebook's structure and story are shaped by its funding model, which was honed into the idea that venture capitalists would take bets and try to reach rapid growth to create a platform effect. This model is emulated by many other startups today. There is a big debate about the corporate purpose, whether they should focus on profit or consider environmental, social, or governance issues. Throughout his research, William was surprised to find that the structure of corporations has always been similar to the debates within society, and major corporations have always led to major changes in how they are regulated. For example, mass production, oil production, and concerns about too big to fail have led to new issues being raised when there is mass production or oil production.
Misconceptions about Corporations and Their Role in Society
William discusses the misconceptions about corporations and their role in society. He argues that corporations were created to promote the common good, not just profit, although what could be debated is what the common good means. This idea is based on historical evidence, such as the creation of the Florentine government and Queen Elizabeth England. He also discusses the debate surrounding fiduciary duties and the role of boards of directors, managers, and officers in determining the interests of shareholders. He disagrees with some scholars about the role of fiduciary duties and the broad discretion granted to managers to consider other interests beyond shareholder profit. He believes that this broad discretion has been informed by his research into the history of corporations and the factors that have led them to thrive. William's next book is on the history of law, focusing on foundational moments in time when the way we think about law, the rule of law, the Constitution, judges, and democracy have changed. He goes back to ancient Athens, ancient Rome, and the development of the code, moving up through the US Constitution Magna Carta to the current draft of the 1964 Civil Rights Act.
Links:
Some additional book recommendations on corporate history from Professor Magnuson:
- Ernst Badian, Publicans and Sinners: Private Enterprise in the Service of the Roman Republic
- Raymond de Roover, The Rise and Decline of the Medici Bank
- William Dalrymple, The Anarchy: The Relentless Rise of the East India Company
- John Micklethwait & Adrian Wooldridge, The Company: A Short History of a Revolutionary Idea
CONTACT:
Twitter: @profmagnuson
LinkedIn: https://www.linkedin.com/in/william-magnuson-56479473/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
In this episode of Unleashed, Will Bachman talks to Scott Ratliff, who is a principal at the search firm Beecher Reagan. Beecher Reagan is a specialty retained executive search firm that works across three industries: professional services, digital and technology services, and private equity. As a principal at Beecher Reagan, Scott leads the commercial excellence sales and marketing practice, focusing on growth roles across these industries. Scott talks about commercial leaders within professional services, specifically in three forms: true Hunter BD people, who are responsible for going out into the market, setting meetings, driving revenue, and bringing in new logos; a hybrid, who owns client relationships, farming large accounts, finding new lines of business within those accounts; and a commercial operations type of role, who sets up and builds out a sales structure, identifying the right people to process technology to build or develop a sales culture within a firm. Depending on the size of the firm, its growth journey, and the talent available, firms may have specific roles specific to one of these verticals or firms looking for someone who can come in and play across.
Scott explains that some types of professional services firms have people who are separate from the actual delivery teams brought in as commercial salespeople effect. The traditional model in consulting involves starting as an analyst and working your way up to the manager level, where you shift into being commercially wired and focused. However, there has been a spike in commercial leadership in several places, such as the lower middle market, high growth, emerging market, and larger firms looking to build out new functional capabilities or geography. In addition to selling services, commercial leaders should also understand how to sell services specific to that functional area. This helps firms continue to supercharge growth and drive revenue.
The Roles of Hunter/BD People in High Growth Firms
Scott discusses the roles of Hunter/BD people in high-growth firms. He explains that these roles can range from five to $10 million firms looking to grow organically to $25 million and potentially leverage M&A. The role involves understanding prospective clients, targeting companies, gathering data for an effective approach, outreach, scheduling meetings, and creating a lead generation engine. The Hunter BD person's role is crucial in identifying potential clients and building relationships with them. They are responsible for taking initial calls, developing relationships, and deciding whether to bring in a partner or subject matter expert. Different firms have different compensation structures, with some expecting the sales leader to close business and the delivery team to execute or the role may be to generate meetings. There are two types of Hunter BD profiles: those who understand the business well enough to take the sales cycle from start to finish, build relationships, understand the selling proposition, and close deals. Another version of the role involves supercharging what partners do well, pitching services, and understanding the problem statement of potential buyers. Scott suggests that the effectiveness of each role depends on the business's needs at its current stage of growth and the resources available. It is important to consider the business's staffing and talent requirements when choosing between meeting setters and sales leaders.
Sales Success Strategies
Scott emphasizes the need for a combination of strategies to achieve success in sales. First, a strong strategy is needed. Second, having the right technology in place to generate strong leads is crucial. He shares a few steps and mentions how important relationships are in selling services. People who have worked in the industry and built up a network can leverage their network to sell directly to potential buyers or introduce them to potential buyers. The best salespeople are not only doing one or the other, but also setting the engine, pursuing cold outreach, getting their story out there to the right people, and leveraging their own network and relationships. The typical background of successful salespeople is in the digital and technology services space, where they have exceptional sales training programs. However, when hiring commercial talent into professional services, it is important to see their experience in selling services and speaking to different types of customers. In conclusion, a combination of strategies, including cold calling and cold outreach, is necessary to achieve success in the sales world. It is essential to find individuals with a strong sales DNA and experience in both sales and professional services to ensure a successful transition into the industry.
Evaluation Process for Sales Candidates
Scott emphasizes the importance of communication skills and the ability to quickly connect with people within an organization. He also emphasizes the importance of talking in numbers and making things simple for clients. The typical compensation range for salespeople is typically between 150,000 and 250,000, depending on their experience level. However, at the high end, senior sales people typically earn between $350 and $400,000. Scott talks about attracting talent. One of the most common questions asked by candidates is whether they are ready to walk away from their current position with existing relationships and recurring business. To help incentivize or help with the ramp period, firms should focus on having someone who can bring existing relationships with buyers who are fit for the role. This could include senior executives, civilian clients, or heads of business units at large companies. In summary, Scott emphasizes the importance of communication skills, numbers, and a strong understanding of the company's business processes when evaluating candidates for sales roles.
Support Teams and Building a Commercial Team
Scott suggests that hiring someone at this level should build a commercial team around them. This could include someone handling marketing, leveraging LinkedIn, and generating leads through marketing. A research person is also crucial in this team. In a professional services firm, the number of people involved in lead sales is considered a team number. The first 30-60 days should be spent identifying the right setup of the team and finding ways to make the most out of their resources. The sales leader or Chief Commercial Officer would lead the team in lead generation, research, and building lists for target audiences. The research capabilities may include using tools like LinkedIn Sales Navigator to build lists and target different businesses. The audience for the firm will impact the size of the research function, but it is essential to leverage existing technology for lead generation and segmenting for cold outreach. By targeting the right people and buyers, the team can create targeted messaging and drive sales growth.
Compensation for Sales Leaders
Scott discusses the compensation for sales leaders in a professional service firm, including the process metrics for hiring salespeople, such as meeting frequency and revenue generation. For a salesperson at a higher level, the goal is to generate millions of dollars in revenue. However, the number of meetings may vary depending on the size of the deal and the industry. For a sales leader at a 150,000 base, the typical number of meetings would be two meetings per week. The number of meetings depends on the size of the deal and volume expectation. If the salesperson is selling large deals or farming accounts, the number of meetings may decrease. However, the goal is to maintain double-digits of meetings once the business is up and running. When hiring a sales leader, professionals should consider their organization's capability to handle downturns and be agile in their offerings. Scott believes that hiring a sales leader can help the company adapt to market changes and build new capabilities. By identifying different markets and products, the sales leader can help the company handle downturns and rapid changes. The best sales leaders are creative and can sell their product in various places, allowing the firm to hire against these expectations. This approach allows the sales leader to continue growing and function in challenging times.
Incentive Compensation for Commercial Leaders
Scott shares what a company should address before bringing in a sales leader. He discusses the normal rates of success expected in a sales leader and the incentive compensation for commercial leaders, and the different ways firms structure it. He talks about the various models for building a strategy, how long the new logo belongs to the salesperson, and how much of that is shared with the partner who delivers the work, leading to recurring business. Some firms have a higher volume, a less consolidated sales model where the income is going elsewhere, while others focus on maintaining relationships and expanding on new accounts. Scott emphasizes the importance of paying attention to the core DNA of successful salespeople, which includes competitive spirit, motivation, commercial mode, and strong communication skills. The best salespeople are motivated, commercially awaited, and have a piano driver of their own success and fulfillment through their work. They also have strong interpersonal skills and a sense of people. By testing for these qualities and the experience of the sales leader, organizations can feel comfortable in the value they can bring to their organization.
Timestamps:
00:40 Recruiting commercial roles in professional services firms
01:49 Commercial leadership roles in professional services firms
06:14 Sales roles and responsibilities in consulting firms
12:04 Sales strategies for professional services
17:56 Evaluating sales candidates for consulting roles
20:38 Sales compensation and ramp time for high-potential salespeople
25:32 Building a commercial organization for a consulting or professional services firm
31:15 Hiring a sales leader for a professional service firm
36:25 Sales leadership and incentive compensation strategies
Links:
Website: https://beecherreagan.com/
CONTACT:
LinkedIn: https://www.linkedin.com/in/scott-ratliff-0294362b/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Will Bachman talks to Ammad Ahmad, founder and managing director of Atheneum, a top global expert network that works with management consulting firms and provides access to niche industry experts, and offers research as a service (RaaS).
These experts have spent 20-25 years in a particular function or industry and can provide tacit knowledge and insights from industries. They help clients understand challenges when implementing AI-related solutions in healthcare, due diligence cases, or when a PE firm is looking to make an investment.
Atheneum has about 11 offices across the world, ranging from San Francisco to Tokyo, with roughly 500-600 SDEs around the world, and they offer one-to-one expert calls, surveys, quantitative surveys, and reports. The majority of their business comes from the expert session side, where many clients want to meet the experts in person.
Ammad started the firm in 2010 after working as a management consultant in Washington, DC. As a management consultant, a large part of his work was research and sourcing expert networks, and vetting the experts. When he moved to Germany, he contacted former colleagues from the consulting arena and suggested setting up a firm to help consulting firms access the industry experts they needed with the primary research required for each project.
Founding and Scaling Atheneum
Ammad and his co-founder Mathias set up in an incubator where they had access to laptops and interns and were able to get down to business. By week two they had secured projects from their old consulting firms. Every week they were getting requests for experts in Europe or the emerging markets. As time went on, word of mouth spread and they earned more and more clients. Today, Atheneum works with all of the top 10 management consulting firms, many private equity and corporates, and pharmaceutical companies.
Atheneum’s core focus areas include healthcare, with offices in New York, San Francisco, Santiago, Berlin, London, Lahore, Pakistan, Shanghai, Tokyo, and Korea. When they were setting up their firm, they found that there was a lack of insight and intelligence into many of those ex-U.S. markets. They recruit experts in the local language. They custom recruit on many projects. This allows them to better screen for quality and match experts for clients, and the expert database themselves are fresh and engaged, and meet requests in new markets. When COVID hit they were inundated with requests for experts which enabled them to differentiate and scale.
Managing Client Relations
Ammad discusses the importance of staying ahead of client needs and staying informed about their needs. He suggests that independent consultants should stay in front of clients and work hard to understand their needs and provide them with good solutions.
He shares his thoughts on staying agile in solutions and products and on top of clients’ needs. He believes that staying ahead of client needs and keeping them informed of possible problems and solutions they may face is crucial for a successful go-to-market plan. This can be achieved through thought leadership pieces, informal meetings, or casual notes about industry trends. This helps the firm be perceived as knowledgeable, has the network and relationships that can offer support, and willing to go the extra mile.
Using AI in Sourcing Experts
Ammad believes it’s too early to tell how AI can help companies and expert networks, but he does mention that Ai can help provide better quality matches to clients, to ensure the expert is who they say they are, and perform better screening. AI can also be used internally to find the best experts in their network by using semantic search and searching through a broad array of research resources on a larger scale that allows the firm to build a larger network. Ammad’s firm provides interview training to many clients, guiding them on how to conduct expert interviews, what to look for, and how to gather and triangulate data. He emphasizes the importance of researching the individual and providing guidance on the types of queries that may come up during a conversation. He discusses the increasing trend in questions and trends in different industries, such as AI in healthcare, ESG, and broad use cases of AI in industries such as automotive. He mentions that, over the last decade, corporates have started utilizing external resources for short-term project needs. This shift is driven by the need to innovate across various industries and seek external insight and information.
Managerial and Leadership Skills
When it comes to managerial and leadership skills, Ammad emphasizes the importance of understanding people's motivations and incentivizing them correctly. He believes that providing context and transparency around decision-making is crucial for helping moving people together within the firm. In his morning routine, Ammad wakes up early and takes advantage of the quiet and head space to organize his thoughts and think about what he has to do. He spends time observing the world outside his window, which provides context and puts things into perspective. It’s a time to reflect on what he is doing and how to move forward. He also disconnects from Outlook, which allows him to focus on tasks and research. This practice helps him stay focused and avoid distractions.
Timestamps:
01:52 Expert network and consulting firm Athenian Partners
03:11 Growing a consulting firm, go-to-market strategies, and client retention
11:18 AI's impact on expert networks and internal use of AI for better matches
15:14 Expert networks, interviewing, and industry trends
21:02 Leadership, productivity, and decision-making with Athenian CEO
Links:
Website: www.atheneum.ai
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
In this episode of Unleashed, Will Bachman interviews Nancy Mackay, founder of MacKay CEO Forums (MC ACO), a peer advisory group that provides confidential peer support groups for CEOs and business owners across Canada. The group aims to populate the world with inspiring leaders by offering confidential peer support groups to hundreds of members. Nancy states that, in today’s challenging fast-paced business-world, and with a growing mental-health crisis, leaders need more peer support and trusted advisors. The Mackay community includes over 1200 CEOs, executives, and business owners from various industries across Canada, participating in over 114 person peer learning groups. Over 60 consultants have been trained and certified to offer peer learning support to members, and the leadership team is focused on supporting form Chairs who offer peer learning support. Nancy started her group over fifteen years ago and still Chairs the group. Her group has 14 CEOs from various industries, with revenue sizes ranging from 5 million to 5 billion plus. Most of the groups are for entrepreneurial, privately held individuals who want to grow their businesses. The meetings are confidential, non-competitive, and require six meetings a year for a day, and they hold a 2-day annual retreat. Each meeting features a one-hour speaker, followed by confidential updates where CEOs discuss their biggest issues, challenges, and opportunities related to business, family, and personal. They place issues they want help with on the table, and after the issues are discussed, the group encourages sharing experiences.
A Forum that Helps CEOs
One of the biggest objections to joining a peer group is the lack of time. However, the reality is that everyone can make time, and having a group of 14 CEOs with a growth mindset can save time and provide support for all issues, including business, family, and personal. All the forum Chairs at MacKay are modern, trusted advisors with extensive experience working with CEOs, executives, and business owners, playing a crucial role in Chairing meetings and retreats, creating a confidential space for CEOs and executives to be vulnerable and succeed in their careers without sacrificing their health and important personal and family relationships.
Nancy shares examples of how peer groups have helped individuals navigate their transitions, such as selling their business, scaling their business, finding talent, and recession and succession planning.
Nancy highlights the importance of segmenting peer groups, with specific groups catering to different types of CEOs, CFOs, HR Rows, and cross-functional executives. These groups ensure that each member's background experience is taken into account, ensuring that everyone is a best fit for the group. The group also address personal and family issues, allowing members to discuss their challenges and successes without sacrificing their health or family relationships. Members can build lifelong friendships and support networks to help them navigate their careers and personal lives.
Three Tips to Being an Effective Chair of a Peer Learning Group
To be an effective Chair of a peer learning group, Nancy shares three key tips: not being the "star in the room", it should be all about the members. The second tip is to ensure that you create a space of vulnerability where members can share their experiences and mistakes, and remembering that no-one is the "smartest person in the room." The leadership philosophy is about judgment-free and sharing experiences, helping CEOs and executives become masterful at telling stories and being vulnerable; the third tip is to remember that being a Chair is focused on helping people and not just being nice. It’s more about challenging them and holding them accountable.
In conclusion, peer learning support provides valuable advice and mindset shifts for CEOs and executives, helping them navigate their transitions, find talent, and build successful cultures. By taking a step back and focusing on the members, Chair members can create a supportive environment for their peers and achieve success in their respective fields.
Nancy explains who could apply to become a Chair with the organization. Chairs must have had their own independent consulting practice for at least three years and have over 18 years of experience working with CEOs, executives, and business owners from various industries. The most successful Chairs are partnering with the MacKay CEO Forums and signing up for their certification program to build world-class peer learning groups for CEOs and executives. The MacKay CEO Forums have launched over 100 groups and are constantly evolving and improving. The best fit Chairs have a proven roadmap to success on how to build these groups and achieve Chair mastery. The certification program is experiential learning, not a bootcamp approach, and includes one-on-one coaching, pure learning on a weekly basis, observation, co-Chairing, and they can move on to the Chair Mastery program.
Nancy explains the benefits to joining the MacKay CEO Forums, which provides access to current, relevant, and high-level information through access to a peer group, an annual summit, conferences, content, and expand their business network. In summary, it provides connectivity across forums. Being part of the broader network of the MacKay CEO Forums provides a proven roadmap to success. Forum Chairs are highly rated speakers with MacKay CEO Forums, making it a lucrative opportunity for members to expand their business network and engage with people in the community.
The Origin Story of MacKay CEO Forums
Nancy shares the story behind founding the company. She was invited to speak at a CEO peer group meeting in Vancouver. She was the first female speaker invited into the CEO group, and after her presentation, the Chair asked her if she’d like to become the forum Chair. This was at a time when they didn’t let women in. However, Nancy instigated the progression to allowing women into the forum. The organization has since grown to include multiple forums and an institution that supports successful consultants and business leaders.
MacKay CEO Forums is a beneficial corporation. It takes a stand on diversity, equality, and inclusion. For the first five years, she ran the business together with her husband and business partner. She decided that the world needed more peer support and focused on building ten of these CEO groups across Canada. The goal is to populate the world with inspiring leaders, to find other like-minded consultants who have a passion for helping business leaders, and she wants to help them achieve success with their business. They are currently on the path to having 10,000 members across the world.
The MacKay peer learning group for business leaders is primarily based in Canada. They have a Chair capability assessment that allows individuals to self-assess their suitability for the role. The forum is currently looking to partner with consultants based in BC, Alberta, and Ontario as its primary areas for growth over the next year.
Common Mistakes Consultants Make
Nancy shares the common errors consultants make and emphasizes the importance of sharing experiences and stories, rather than giving advice or telling people what to do. This creates a space for a different approach to influencing and creates more inspiration for people to take action. The forum's leadership philosophy includes the Mackay Mastery Model for Inspired Leadership, which focuses on inspiring oneself every day. Chairs are trained in time mastery, Eagle mastery, passion, mastering innovation, mastery, social contribution, mastery, and Health Mastery. To keep meetings on track, Chairs should use the right language when a conversation feels meandering or getting off track. They should start and end on time, respect people's time, and be intentional about how they spend their time. Time mastery and goal setting are part of the organization's culture, and members expect the Chair to use a timer during peer group meetings. For those interested in learning more about the forum, contact Nancy directly at Mackay CEO forums.com or visit their website.
Timestamps:
01:11 CEO peer support groups in Canada
04:48 Leadership, business growth, and personal development for CEOs and executives
11:12 Running effective peer learning groups for executives
17:51 Building and leading peer learning groups for CEOs
23:41 Starting and scaling a peer learning group for CEOs
29:32 Leadership philosophy and effective meetings
Links:
Website: MackayCEOForums.com.
CONTACT INFO:
Email: Nancy@mackayceoforums.com
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
In this episode of Unleashed, Will Bachman and Pam Fox Rollin, author of Growing Groups into Teams, discuss the concept of a team and its benefits. Pam opens the conversation by defining what a team is. She emphasizes the importance of a shared promise and a commitment to coordinate to fulfill that promise. A team is not just a group of people who report to the same people but are a group of people who are committed to accomplishing a shared goal for their customers, whether internal or external. Pam also discusses the challenges faced by executive teams, where they may not be a team at all. For example, if a sales team is independent and not collaborating with other departments, it may not be considered a team. Instead, the best teams are clear on their promises and partner with each other to achieve them.
The Importance of Diversity in Team Building
Pam reveals what common beliefs about teams she disagrees with. She shares research on diverse teams and why it’s not always productive to work with the smartest people. Pam emphasizes the importance of diversity of thought and cognitive diversity on a team. She explains that diversity doesn't necessarily mean being smart or not smart, but rather diversity of thought and perspective. This can come from different undergraduate majors, cultures, and cognitive backgrounds. Racial and gender diversity is also important, as it helps to create a more inclusive team environment. For example, women are more perceptive about power structures, while people of color are more perceptive about power structures.
Responsibility and Accountability in a Team
The conversation shifts to the concept of responsibility and accountability. Pam believes that responsibility involves taking a promise seriously and taking responsibility for the success of an event. This includes ensuring that everyone on the team understands what success looks like and can communicate with others when necessary.
However, there are some problems with accountability, such as not being accountable to a promise you never made or not being able to recover the promise. In conclusion, diverse teams are essential for success in various industries, including sales, marketing, customer service, engineering, and more. They also require a balance between responsibility and accountability, as well as a willingness to learn and grow from each other. By embracing these values, teams can create a more inclusive and effective workplace environment.
Pam talks about a chapter in her book, “When the Team You Need Doesn’t Exist” and goes on to share a unique story of working with teams to diagnose issues and help them improve. She started her career at Bain and Company, where she met the people at Accenture's Healthcare Strategy Group. She fast-tracked to an associate partner, got married, decided to leave her job and become an executive coach.
Altus Growth Partners
Pam shares the genesis of Altus Growth Partners. The firm runs various engagements, including executive team work. Much of Pam’s work takes place during a big change to the business, such as an acquisition or a new CEO. This opportunity allows the executive team to restructure their work and set new guidance for the organization. The practical work involves working with the executive team as their coach, often working directly with the CEO. Altus Growth Partners has been in the process of transforming from solo practitioners to a team, working on decision-making processes and building teams at various levels. She shares a case example when Altus worked with a healthcare organization with a new CEO coming in.
Coaching for Organizational Development
Pam emphasizes the importance of rigor and a model in coaching and the saying that “low trust leads to slow change” in organizational development. Trust is critical for decision making, and building trust starts with oneself. Pam shares a chapter about a CEO blocking team success, where she discovered that her job was to ensure everyone was on the same page about the promise, where they are going, what they're part of, and what they're accountable for. She also emphasizes the importance of delegating and getting people on a path to a common promise, rather than pretending to know more than they know. The conversation then moves to the topic of leadership, and discussing the book "Growing Groups into Teams". The book is about real-life stories of people who get results and thrive together.
Timestamps:
00:15 Team definitions and common misconceptions
04:59 Team diversity and its impact on project success
09:37 Team dynamics, diversity, and accountability
17:23 Career transition and teamwork in consulting industry
21:31 Leadership development and team coaching for a healthcare organization
26:54 Building trust and decision-making in teams
Links:
The Company Website: https://altusgrowth.com/
The Book: Growing Groups into Teams
CONTACT INFO:
LinkedIn: https://www.linkedin.com/in/pamfoxrollin/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
In this episode of Unleashed, Will Bachman interviews David A. Fields on how to work with industry associations and other types of groups to build businesses and create value. He touches on the concept of trade associations, and how we should view the trade association as a source of prospects. It's important to consider other types of associations that have a large group of prospects in their tribe, such as software platforms, data providers, headhunters, and journalists. Data providers often need the help of consulting firms to ensure their data remains relevant and useful. For example, data providers can provide information on social media trends, transportation logistics, and more. In conclusion, trade associations can be a valuable tool for firms to connect with prospects and build their business. They can also serve as visibility partners, helping firms reach out to potential clients.
David talks about connecting with visibility partners and what you can do to raise your profile through that relationship. For small firms with no specific focus, it is important to find the right group by focusing your business on a few industries and engage with associations or other providers to find potential partners. This approach makes it easier for the firm to find prospects and be more valuable to them.
David shares examples of clients who have successfully worked with data providers as visibility partners. One example is a consulting firm in Virginia that has grown from about $1 million to $15 million through targeted visibility building with data providers. The firm has done research work with the data provider to demonstrate the importance of creating value for both partners and their clients.
Connecting to a Visibility Partner
To get started with a visibility partner, David suggests reaching out, offering to meet, building relationships, and staying right-side up. For example, a consulting firm might have worked with multiple clients using data from a data provider and had a history of complaints about the data. By introducing the firm to their contacts to help the data provider improve their service, they can help address the client's concerns and also improve their visibility.
David discusses how to increase visibility by getting on a podcast. Will suggests reaching out to the host of a podcast and posting a summary on LinkedIn to tag the host. This approach is often overlooked by hosts, but it can be a great way to reach potential clients. David stresses that this is a long-term relationship building strategy, and not a quick fix.
Furthermore, he encourages people to get involved in small podcasts, new podcasts, and podcasts with only 12 listeners, as they are more likely to have a smaller audience. This can lead to better targeted discussions and better results.
David talks about the pros and cons of tapping into alumni associations for businesses. For example, Procter and Gamble's alumni network is a strong example of how alumni networks can help businesses grow.
Working an Industry Conference
For industry conferences, it is important to determine who’s going to be there, who you want to meet ahead of time, and set targets for attendees. Additionally, commit to attending the conference for three years, as it allows you to build relationships with potential clients. Will suggests using LinkedIn to create a list of attendees and send connection requests to potential attendees. This will help you connect with potential clients and build relationships with them.
When it comes to messaging a potential contact to secure a meeting, Will and David discuss possible approaches. David also mentions various methods of connecting with industry recruiters and securing visibility through content development.
David mentions his next practice accelerator, which is sold out but will be held in 2024. In summary, David emphasizes the importance of visibility partners and the need to consider the tribes they overlap with when promoting a firm. By focusing on these strategies, consulting firms can increase their visibility and attract more potential clients.
Timestamps:
03:23 Leveraging industry associations and other groups for business growth
05:27 Partnering with visibility partners for consulting firms
12:22 Partnering with data providers for visibility
19:59 Networking strategies for professionals
26:18 Networking strategies for a conference
30:57 Consulting firm visibility partners
Links:
David’s website: https://www.davidafields.com/
David’s Books: https://www.davidafields.com/books/
David’s Blog: https://www.davidafields.com/blog/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes
Davina Stanley, a consultant and author, has recently published the book Elevate: How to Lift the Quality of Thinking in Your Team's Board Papers without Rewriting them yourself. She spent 15 years at McKinsey and coached consultants for 15 years. Her core work involves understanding the stakeholder environment and structuring messages based on the Minto pyramid principle. She brings her public relations and communications background, McKinsey Consulting experience, and her original background as a kindergarten teacher together to help people engage senior leaders and boards.
ClarityFirst Communication Program
Davina works with mid to senior level executives, often one-on-one or in small groups. She typically works with groups of 15 to 25 people. She helps build skills by giving them homework to do and working through the process together. She talks about how she works with senior executives and how she offers a structured program that can be tailored to budgets and ambitions. For groups with technical backgrounds with a fairly modest project, she might offer a three-hour workshop where they work through the process together and think through summarizing and synthesizing data and context. For groups with deep technical backgrounds, she might offer a six-week workshop with learning in advance. This allows the group to practice and learn, ask questions, and interact with the material. She explains how she structures the courses, why she adopted the drip model, and why she started teaching online. Davina currently offers books and online courses as preparatory work for people to use in their own work.
Rise. Ready. Iterate. Settle Embed.
Davina identifies key points that people should take away from her sessions. She focuses on two streams of work: collaborating to get the final messaging and document right, and getting the actual messaging right itself. She emphasizes the importance of clarity and quality of insight in structuring messages, beginning with understanding who this is for and what the core message is. Davina suggests that one message per slide should be embedded in the title of the slide, and other key lessons to be learned include understanding the stakeholder environment, getting ready to understand the communication strategy, iterating around the message as a one-pager to nail it with stakeholders, settling the document, and embedding learnings form both the process and outcome
Clear Communication Skills for Leaders
Davina’s book, Elevate, helps leaders build their own foundations in understanding the importance of clear communication. She suggests that leaders should build their own foundations by thinking differently about their communication, lifting their own skills, and elevating the team. She talks about the importance of leadership involvement in building quality communication. She states that leaders should first lay foundations by understanding why it matters and learning their own approach to building clear communication. Davina defines the skills that she’d like participants to take away from her course, and how she helps them through the course.
Davina talks about the design of her book. She wanted to create a visually appealing book that reflected her teaching principles and was designed with a clear vision in mind. Her goal was to create a book that was user-friendly, with plenty of whitespace and a mix of slide design, PowerPoint design, and book design. The book's shape was designed to be both visually appealing and easy to read. The book's layout was a mix of slide design, PowerPoint design, and book design, with a focus on illustrating concepts and making them relatable to readers. The portability of online books is important for the visceral experience of having a book, but she also believes that physical books are wonderful for having something on their desk as a reference. She talks about the difference between typesetting and book design. Her first book, The SoWhat Strategy, was written with Jared Castles and is targeted at senior leaders and boards, focusing on more complex stories.
Davina has built a list of 10,000 email addresses through her marketing coach, who helped her learn Facebook techniques. She has kept building this list and has been sending out weekly emails to help people with their communication. She talks about the emailing system and tools she uses to link systems together and create online modules.
For listeners interested in learning more about her practice, Devina suggests visiting clarityfirstprogram.com, which offers various resources, such as her podcast, Cutting Through, and her free course, Emails Basic. To subscribe to her thinking, visitors can visit the website and sign up.
Timestamps:
01:53 Working with leaders
02:22 How Davina’s coaching business serves executives
06:51 The process of preparing for a coaching session
11:26 The structure of a good communication plan
16:43 Embedding the operating rhythm
21:37 How the book was designed with the user in mind
31:49 Davina’s email marketing strategy
Links:
Website: https://clarityfirstprogram.com/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
In this episode of Unleashed, Dr. Michelle Drapkin, author of The Motivational Interviewing Path to Personal Change: The Essential Workbook for Creating the Life You Want, discusses her book and her work as a Board Certified Clinical Psychologist and behavioral scientist, focusing on cognitive behavioral therapy (CBT). Michelle is known for her work at Johnson and Johnson and the Veterans Administration, and she shares science-based techniques on how to change behaviors beyond intuition or folk knowledge.
CBT and Motivation
Michelle explains cognitive behavioral therapy and her motivational interview technique. Her area of focus within psychology is the common sense approach of using intrinsic motivation to drive behavior change that aligns with an individual's values and goals. She also emphasizes the importance of aligning these values and goals with the context of the organization. Michelle addresses myths about what motivates people and how to overcome them. One myth is that simply telling people what to do is enough, but it's not always the case and doesn’t always endure. She also discusses the importance of fostering a supportive environment and setting clear expectations. She believes that a supportive environment can help individuals feel more comfortable and confident in their decisions, leading to more effective behavior change.
Discussing the McKinsey Change Model
Will and Michelle discuss the McKinsey change model, which consists of four parts: understanding and skills, commitment, leadership modeling, and accountability. They agree the McKinsey model is mostly right, but Michelle also mentions the missing motivation component. She talks about the Combi model, which combines capability, opportunity, and motivation to achieve behavior change. However, the accountability mechanism and measurement are missing in the McKinsey model. She offers an example to prove the point. She suggests that the McKinsey model might not be the best fit for organizations, as it may not be suitable for adopting new habits or habits that require a different approach. She suggests using motivational interviewing, which is a more compassionate and empathic approach that helps people connect with their internal intrinsic motivation to change.
Michelle explains what motivational interviewing is and how it was developed 40 years ago as an alternative to confrontational approaches in the addictions field. It is a gentle, compassionate approach that meets someone where they are at and helps them connect with their internal intrinsic motivation to change. By using motivational interviewing, organizations can help individuals change behaviors for themselves or at least for their own benefit.
Michelle talks about the importance of self-compassion, the best-self, and various exercises and strategies for enhancing team alignment and organizational effectiveness. She suggests exercises on how to connect with the best-self and emphasizes the importance of motivational interviewing in behavior change, as it encourages people to talk about their reasons for change and commitment to change. This has been scientifically proven to result in the change.
How to Prioritize Values
She discusses the importance of prioritizing values, which can be challenging to identify. She suggests that individuals should first identify their values and then narrow them down to about 10, and then prioritize one value. This offers a map to their North star(s). These are the building block to purpose, and
helps in making decisions about how to manage competing values and navigate conflicts.
She talks about the importance of recognizing and valuing different aspects of an individual's life, such as their time and family, and how they can prioritize these aspects. They emphasize the importance of understanding and valuing different aspects of oneself to better understand and manage competing values. By focusing on positive experiences and addressing barriers, individuals can become more likely to make changes and improve their overall well-being.
Michelle talks about chapter two in her book which focuses on finding their why which leads to the what. She helps them identify and prioritize what they want to focus on driving towards before identifying what needs to change. She moves on to explain how she motivates change and introduces the process to consolidate motivation to make change and then commit to the action. She stresses that this approach is not telling people why they should, convincing, persuading or cheerleading.
What Is Motivational Interviewing
The concept of motivational interviewing (MI) and its four components: focusing on motivation, consolidating motivation, consolidating commitment, and empowering employees. MI is different from other approaches as it is not persuasive but rather evokes motivation from inside the individual. It is important to consider the individual's needs and desires when making changes, as well as their ability and skills to achieve the change. MI can be applied to various settings, such as clinical settings or organizations where an individual is nested within an organization.
The spirit of MI, which includes compassion, acceptance of autonomy, partnership, and empowerment, is crucial to understand. MI emphasizes the importance of recognizing that everyone is their own person with their own background. This is especially important in an organization where diversity and inclusion are becoming more important. By helping employees change in a way that aligns with their values and goals, leaders can help them improve, or find a new role, or exit the organization gracefully. MI can be complicated, but it can be done by being collaborative, and transparent in discussing the changes with team members. By focusing on specific areas of struggle and addressing any wiggle room, leaders can help employees find a solution that aligns with their values and goals.
Michelle talks about why transformation efforts often fail within organizations. She mentions the assumption that change will just happen is not enough to enact change, and that communication with the team may be lacking or lack in engagement and empowerment. She also mentions common mistakes that leaders make when addressing the team.
Timestamps:
00:05 What is cognitive behavioral therapy?
06:40 Mckinsey’s four part model
09:31 Accountability mechanisms and motivation
14:07 How to determine your best self
19:09 Categorize your values into categories
21:50 Knowing your values and prioritizing
26:02 How to get started on making a change
31:23 Common characteristics of why transformation efforts fail
35:30 The importance of reflecting on your change
Links:
Book - https://a.co/d/4UbNT5h
Website - http://drdrapkin.com/
LinkedIn - https://www.linkedin.com/in/michelledrapkin/
CONTACT INFO:
LinkedIn - https://www.linkedin.com/in/michelledrapkin/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
In this discussion, Joe Pope, the Partner and Director of Business Development at Hinge Marketing, discusses cold outreach. He explains that it is crucial to understand the key issues, topics, and channels that target audiences in order to effectively engage with them. The old method of folding dialing and outsourcing has developed a reputation for not seeing ROI or benefit from the time spent on it. Joe suggests that when developing an approach to cold outreach, it is essential to focus on understanding social media cadence, marketing strategies, the target audience's industries, key issues, and subject matter expertise. This will help avoid falling victim to the sea of sameness and ensure that the message is tailored to the specific needs of the target audience.
Joe offers an example of an independent consultant who wants to expand their circle of clients. They have 15 years of experience in strategic sourcing and procurement. They may have already reached out to past clients and people they know but now want to expand their circle. Joe suggests making sure they know the title of the contact and ask questions around directly relatable topics and issues. Linkedin should be used for commenting and sharing on posts or connection requests. Connection requests should only be used if you can offer valuable services, but InMail messages tend to be a waste of time. Joe explains the type of messages and messaging that work and what doesn’t work, including to avoid spam, use a slightly warm connection in your connection request, such as mentioning a secondary or third connection. If you're cold, make a reason why you're reaching out, such as having a secondary connection in common or being in an industry that you just created a presentation for or something of value..
Joe discusses reaching out to people to work together on content creation on email rather than InMail, but you should identify the value to them. It’s also a good tactic to use connections from your college or business school, former colleagues, or other relevant sources to move the needle closer to potential clients, and likewise, following the same topic feeds as potential clients and commenting on posts they read.
Joe talks about the importance of subject lines and email length in cold outreach, highlighting that they can lead to positive ROI. Subject headlines should be short, around six to eight words, and tied to a resonating topic such as events. This approach has been successful in generating responses and open rates. Short, personalized subject lines should avoid using emojis, as they may not resonate with the intended audience. Event-related subject lines can be used to reference specific services or resources that resonate with the target audience. For instance, a firm could send a targeted list of people in industries that resonate with database decisions or artificial intelligence. By referencing the company's name, the message is personalized and relevant to the recipient. For resource-based subject lines, it is important to focus on the topic and the information being conveyed. Joe does not recommend offering a guide in the subject line, but he does mention the importance of referencing something in the first outreach email to get conversations going and provide value propositions. He offers suggestions on how to encourage engagement depending on where the client is on the funnel.
Email Content Sharing Tips
Joe emphasizes that cold outreach emails are not the most effective for top of the funnel and/or sharing content because they make people take more steps than just communicating or responding to you. Instead, he suggests using targeted text messages with a focus on a specific topic or deliverable. He recommends setting up an intro call to discuss how they can help with the issue. He suggests using a set list of available times and blocking them in their calendar for the outreach process. Instead, the best use of content distribution is to spend that time and effort on areas with larger visibility range, such as getting the guide referenced in editorials or guest publishing.
Best Time to Send Outreach Email
Joe identifies the optimal wait time between emails, which is typically three to four days. The optimal time for sending emails is usually in the mid mornings, as it allows for better open rates for consistent content like research studies or webinars. The best time of day for sending emails is 9:30 a.m. or 10:00 a.m., as it allows for better eye screening and engagement. He touches on the importance of testing different email formats and timings to ensure they don't blend in with other emails. The second follow-up email, which should be a reply to the first one, has been found to have a better open rate. He also touches on the use of calendar links in emails, which can be overbearing and may hinder connection with recipients. He also talks about using a separate email domain to counter being marked as spam.
Email Response Rate Metrics and Tracking
Joe discusses the process of obtaining contact information for larger domains through data vendors like Zoom, Apollo, or Lucia. He emphasizes the importance of understanding the target audience and building profiles to ensure qualified responses. Meanings for response rates are important, as they vary based on the campaign and industry. Joe offers examples of open-rates and response rates from email campaigns. The number of meetings can be estimated by tracking the number of replies and meetings received. A good benchmark is 200 emails for one meeting. However, it's important to note that the number of meetings may vary across different campaigns.
Email Tracking and Follow-up Processes
Joe moves on to tracking and follow-up processes. If an email is opened but not responded to, it's important to follow up with the person. If they respond, they must provide a conditional or positive response. He offers examples of the best approach to engaging the reader. This data can be used for retargeting later down the road, such as using Google Ads systems or LinkedIn to target them with advertising. By tracking and following up with potential recipients, businesses can improve their outreach efforts and maintain a strong reputation in the industry.
Joe discusses the importance of a campaign approach in email marketing. They emphasize that the campaign should be ongoing, with the same profile being targeted on a monthly basis. This approach allows for the development of new campaigns and topics that resonate with the target audience. He discusses the concept of re-engagement campaigns, which are designed to target specific clients who may not have responded to their initial email. He explains that these campaigns are not obsessive, but rather focus on specific services or needs that clients may not have initially.
In conclusion, Joe emphasizes the importance of a comprehensive strategy in email marketing, emphasizing the importance of trust, reputation, and visibility in the decision-making process.
Timestamps:
- 04:48 How to reach out to a niche market
- 12:28 How to reach out to influencers
- 17:49 How to use subject lines in your email
- 26:01 How to reach out to your audience
- 34:26 Should you send a follow up email
- 38:49 Metrics and response rates
- 44:33 Reaching out to potential clients
Links:
Website: https://hingemarketing.com/
CONTACT INFO:
LinkedIn: https://www.linkedin.com/in/popejf/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Richard Langlois, author of the book The Corporation and the 20th Century: The History of American Business Enterprise, and Will Bachman discuss the transition from entrepreneur-led businesses to modern multi-unit businesses. Richard talks about the drivers behind this transformation, including antitrust, which led to unintended consequences such as making coordination between firms illegal, and the shift from vertically integrated businesses to modular corporations. His book highlights the impact of the depression, which eliminated many financial institutions, making it possible for internal capital markets to function and fund innovation. His book also explores the issue of price controls and government interference with markets also interfered with market mechanisms, making it difficult for smaller businesses to coordinate resources.
From Entrepreneur-led Businesses to Multi-unit Businesses
Richard explains that the rise of large companies and far-flung enterprises in the mid-20th century required conscious management and professional managers who weren't also owners, and that transactions in a market require market supporting institutions, such as financial markets and legal systems, which can be provided in a decentralized way or within the firm. He argues that the success of large, vertically integrated corporations is partly due to the lack of success of alternatives to these structures. Antitrust also plays a role in this transition, as it made it difficult for firms to engage in complex contracts and do things internally. He talks about how the transition from entrepreneur-led businesses to multi-unit businesses was driven by factors such as antitrust, the Great Depression, World War 2, and the New Deal. Richard offers a few examples of antitrust in action with the concept of block booking, where movie studios pre-sell entire blocks of movies to cinemas without allowing them to preview them first to ensure the studios could recoup costs of production.
Another interesting aspect he cites is the leverage theory. Taking us back to the 1930s, he talks about IBM who used control over proprietary punch cards to sell their mechanical computing equipment to maintain quality control and price discrimination, which is charging high prices to those who want the product and low prices to those who don't. He goes on to explain how this became the "one lump of monopoly theory," and what this means.
The History of Leasing Machines and Government Opposition
Richard defines the concept and history of leasing machines, which began in the early industrial revolution. In Britain, the textile industry was highly vertically disintegrated. Entrepreneurs could rent equipment to get into manufacturing products. This allowed entrepreneurs to lower upfront fixed costs and easily enter the business. However, the federal government's antitrust policy made it difficult for companies to lease their machines and wanted them to sell them. This led to lawsuits against them from the entrepreneurs who, once they knew how to use the manufacturing equipment, decided they wanted to break the lease to rent cheaper equipment from a competitor.
However, manufacturers enforced long leases and prevented customers from buying cheaper equipment elsewhere, and breaking their original lease. This practice was seen as anti-competitive, as retailers couldn't compete on price, but manufacturers wanted retailers to compete on quality, service, repairs, and service rather than price.
Resale Price Maintenance
In the early 20th century, companies would charge high prices for complex products like vacuum cleaners and washing machines, which required hard salesmanship and servicing. This discouraged customers from visiting full-service showrooms and purchasing cheap products online. Resale price maintenance is a strategy to prevent resellers from freeriding on services, but the antitrust authorities argued it was anti-competitive because it wasn’t allowing resellers to compete on price. This was partly intellectual and partly thinking that businesses tend to be anti-competitive, and partly in the interest of consumers. He talks about management consulting and the role of scientific management and how it is all about learning through trial and error, and coming up with new theories.
Regulating the Corporation and Controversial Opinions
One view on antitrust is that it is driven by what profit opportunities there are in the world and what relative prices are. He believes that part of the reason the large corporation got torn apart into much more specialized corporations was in part that market supporting institutions had come back to life, capital markets were working again, and external capital markets were more effective than internal capital markets and firms. Regulations were impending innovation, and so there were profit opportunities for entrepreneurs who could pressure Congress and the executive branch to try to undo some of the regulations that made it hard for them to innovate.
He states that it is important to be aware of the potential unintended consequences of antitrust. He argues that if antitrust goes against complex contracts as anti-competitive, it could lead to people hiding those contracts within the boundaries of the firm. This idea is controversial, as it suggests that the history of corporations was a story about institutional choice and some institutions being preferred over others.
Deregulation, Holding Companies, and Pyramidal Business Groups
Richard talks about the common belief that the rise of neoliberalism in the late 1900s led to deregulation, but he argues that most of the deregulation occurred before this, as the market economy transitioned from the Depression and World War Two. He goes on to talk about the concept of holding companies, which were once common in the early 20th century, and how most industrial organizations today are organized around business groups, with a family or foundation at the top owning controlling shares and subsidiaries, but The US is an outlier in this, due to public policy concerns about allowing one company to own the stock of another. Richard talks about private equity in the modern corporate world, wholly owned subsidiaries, and majority and minority stockholders.
The Modular Corporation
The corporate form of corporations evolved over time and became more akin to the incorporation of modules. These modules are created like personal computers, allowing them to interact and buy shares from other modules without necessarily being integrated with their operations. This modularity was a key factor in the creation of the corporation and it differs from the vertically integrated business model where everything is connected to everything, but this doesn’t scale well. So, as corporations grew, they began to recognize the need for modularity, breaking up operations into smaller pieces that didn't constantly transmit information to each other. These modules were wholly-owned subsidiaries, for example, Chevrolet was a module of General Motors. During the conglomerate era, people could buy these divisions from one another. This allowed them to operate through the interface of the market and the corporate hierarchy.
The US Monetary System and the Gold Standard
Richard explores the history of the US monetary system, which was initially tied to gold. This was a conscious decision by business interests, particularly those involved in international trade, to ensure the currency was taken seriously by other countries like Britain. However, the US imposed tariffs to protect manufacturing interests, which were essentially attacks on exporters. Exporters, who were primarily farmers, wanted a weak dollar, while importers and financiers wanted a strong dollar. Keeping the currency low was a common strategy in developing countries. Anchoring to the gold standard kept the currency stable. The 19th century saw the demand of a mixed standard with silver. This was driven by inflation, as tying money to other items led to more money and a decrease in the value of the dollar. The West, who were exporters, supported free silver, and the East, who were financiers dealing with the British and importers, wanted a strong dollar. The monetary macro was simpler in the days of a fixed metallic standard, which stopped happening after World War One. After World War One, the US was technically on the gold standard, but it was a managed gold standard where people hoarded gold. Most economic historians believe that these manipulations led to the Great Depression, as the Federal Reserve had just been created without knowledge of its actions and allowed the country to fall into a depression.
Timestamps:
01:22 What drove the transformation into the corporate world
05:17 Transactions in a market require institutions
07:36 Antitrust and anti-trust
05:39 Why did we see the end of the large managerial firm?
09:44 Leverage theory and hedging
15:09 The one lump of monopoly theory
20:37 How to stop free riding
27:12 How important are ideas in anti-trust policy?
32:03 Why did holding companies become illegal?
37:12 Why vertically integrated companies were precluded by deregulation
44:33 Recommended biographies
Links:
http://langlois.uconn.edu/
The book: https://www.amazon.com/Corporation-Twentieth-Century-American-Enterprise-ebook/dp/B0BRBWG6LX/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Jon Cobb, a LinkedIn expert, shares his unique style of posts, which are short, concise, and impactful. His biggest post this year has received 236,000 likes and almost 18 million impressions. It highlights the importance of leadership and culture change, which resonates with many people due to the timing of layoffs and the appreciation for empathetic leadership. Jon also shares a few of the most popular posts, including one that emphasizes hiring someone with the right mindset over someone with the right resume, emphasizing the importance of understanding the motivations behind an individual's interest in a job. He shares posts that suggest people should focus on long-term growth opportunities rather than just the most lucrative job offers.
Jon talks about his company called Jon Cobb Coaching, and an app he built called the Job Search Boot Camp. The app helps people identify mistakes they might be making in their job search process and adopt a more strategic approach. He advises people to step back, think more strategically about their job search, and focus on networking before applying. He encourages people to apply for companies they truly want to work for, as this will lead to a full-quality application. Jon’s app includes an audio course that walks people through these stages, such as networking correctly, reaching out to new connections on LinkedIn, building a compelling resume, and interviewing effectively. By following this structured approach, people can increase their chances of success and happiness in the long run.
Job Search Boot Camp offers resources, resume templates, cover letter templates, negotiation letter templates, and a community forum for users to connect with the author. The course is affordable and designed to help people get hired faster and make more. He left Deloitte consulting a few years ago and focussed on business consulting. He works with people across different elements of their life and challenges they face. He now runs a life coaching practice, helping entrepreneurs, relationship challenges, and developing a mindset of success, and career coaching is a significant part of this practice.
Best Practices on LinkedIn Posts
Jon's approach to LinkedIn posting began with posting on topics that matter to him. He has found that success involves trial and error, experimentation, and understanding what matters to you. He began posting about work culture and personal and professional progress, and over time, refined his voice by focusing on what mattered to him. He found that the overlap between what he cared about and what he had to offer was what resonated with people who appreciated it. When he committed to posting, he started using square image posts with quotes, which are thought graphics that are larger than text. This allows for more real estate on the LinkedIn scroll feed and makes it easier for people to read what they have to say. Additionally, making the idea or thought easy for people to quickly identify with is crucial. LinkedIn is not the place for long, complicated posts, but it is not as limited as Twitter, so it is important to make it easy for people to like, react, leave comments, or follow the author quickly.
Jon shares how posting on LinkedIn has helped him grow his following. He tried different formats and polls. His goal is to post twice a day, but sometimes misses days due to lack of inspiration or commitment. Consistency is a key aspect of success, but it's not the number one priority in his life. Jon emphasizes the importance of nurturing posts and responding to comments within the first hour after posting. The first 20 minutes are the most important and recognised by the algorithms. He sets aside an hour after the post goes live to interact and respond to people, as the algorithm evaluates how much people are interested in your post. To avoid LinkedIn's algorithm evaluating links that take people off the platform, Jon recommends waiting five to 10 minutes after posting to leave comments or links to avoid lowering the exposure the post is given.
When a post performs well, Jon uses a lesson learned from the value ladder from Russell Brunson of Clickfunnels to stay in touch with people, get them to sign up for newsletters or apps, and build an email list. He also suggests using lead magnets, such as offering free resources or digital books, to build an email list. He acknowledges the importance of collecting email addresses, as it allows you to control access to the audience and avoid penalizing you for marketing posts. He plans to launch webinars on digital courses and one-on-one coaching. Another way to collect emails is on your LinkedIn profile, where you can put a link to your best posts or other content and encourage viewers to sign up for the posts. This will help you stay connected with your audience and build a strong online presence.
The ROI on LinkedIn Success
Jon has gained 17 million views and is now reaching a steady stream of clients. However, the challenge lies in product market fit, as people who are unemployed or have been looking for work for three months without much success are less likely to invest in high-ticket items like coaching. To overcome this, he suggests understanding his customer base better and offering a digital resource at a reasonable price. He also suggests a webinar to help people understand the value of coaching and answer their questions. Jon responds to a high percentage of comments on LinkedIn, and he addresses the problem of finding comments that haven't been replied to due to the platform's lack of filtering features. To engage more clients, he offers three ways to help career transitioners: following him for insights, downloading his app, attending the job search bootcamp course, or contacting him about one-on-one coaching. By providing options and letting people decide what the best way is for them to help, Jon hopes to increase his conversion rate and reach more potential clients.
LinkedIn’s New Feature
LinkedIn has a new feature called "Scheduled Posts," which allows users to schedule posts for the future. This feature is relatively new and may vary depending on the platform and device, but there may be different functionality for macs or pcs. Consistency is important as your audience is typically around the same time, and you want people who are used to seeing your posts. However, it's important to remember that engagement is not solely based on the number of people who engage with your post. The algorithm is looking for certain subjects and keywords related to what you're known for.
Building a Niche Audience and Using Hashtags on LinkedIn
To help identify and build your audience within specific niches, you can use the influencer option for your LinkedIn profile, called Creator mode. When you turn on Creator mode, LinkedIn recommends using two to four hashtags, which may be too many for some users. However, it's generally recommended to keep it to two or three. Some people argue that hashtags are dead, but they are still useful in posting well. In summary, LinkedIn's algorithm is designed to help users identify and build their audience within specific niches. Consistency in posting times and using relevant hashtags can help users build their audience and attract more followers.
Developing Your Voice and Watching Your Tone
Jon discusses the importance of being on target and on topic when posting on LinkedIn. He shares an example of a post about entrepreneurship that didn't perform as well as expected due to being irrelevant for a small subset of his audience. To avoid alienating them, it is crucial to focus on a specific message and avoid off-topic posts. Jon also shares his experience with using an edgy tone in his posts, which can make them more thought-provoking and controversial. He emphasizes the need to be careful what you say, as it might go viral and ruin your reputation. He also shares his experiences with posts that get only 12 likes, but he encourages people to learn from them by considering their tone, specific words, and timing. He acknowledges that not every post will be seen by 17 million people, and it is important to remember that not every post will be seen by everyone. In conclusion, Jon emphasizes the importance of being on target and on topic when posting on LinkedIn, and the importance of being genuine and sincere in your content.
Timestamps:
06:48 The three qualities of an influencer
10:37 How Jon developed his LinkedIn posting approach
12:41 The importance of intentionality in influencing leaders
14:25 Nurturing social media posts
19:13 The power of appealing to shared objectives in influencing
20:38 How to create a lead magnet system
25:07 How others can help you develop influence skills
29:09 Time of day to post
34:19 How many hashtags you should tag
Links:
Website: JonCobbCoaching.com
CONTACT INFO:
Email: help@joncobcoaching.com
Linkedin: linkedin.com/in/jondcobb
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
In this episode of Unleashed, Will Bachman and Huijin Kong discuss her new book, Positive Influence, The First and Last Mile of Leadership, co-authored with Tsun-yan Hsieh. They talk about the basics of influence and how to present different influencing techniques. Huijin’s book emphasizes the importance of focusing on both task outcomes and relational outcomes, as well as the impact of one's own heart and soul on others.
Huijin emphasizes that people are influenced more by how they feel about the task and their purpose in influencing others. She explains that traditional consulting can be more powerful if professionals spend more time on mindshare and their own heart, rather than just defining and laying out the task.
The book lays out three aspects of influencing: personal qualities that are universal, such as courage, care, and compassion. Courage helps us face difficult situations and fears, while care involves caring about people's experiences and challenges, rather than just the task itself. Compassion is crucial in challenging times, as it builds the basis for being more open to what people are resisting and why. Humility and curiosity are also central to creating a powerful common ground for discussing difficult issues. By focusing on these qualities, professionals can create a more powerful and impactful influence on their clients and clients. She also mentions ‘state’ which deals with composure and being present. It is important to align your state to your intent. These two-thirds can mean the difference between being a good influencer or a great influencer.
Defining Influence Pathways
Huijin talks about the importance of being deliberate in influencing others. Huijin emphasizes placing focus on positive outcomes and the importance of considering the context and pressures in higher stakes situations, in addition to the starting attitude of the people who need to be influenced.
This intentionality allows for the development of an influence pathway, which involves guiding each person to think, feel, and do differently than their natural current inclination. She qualifies that being deliberate is not like military planning, but rather requires being conscious of how your influence attempt is going and how the person is responding to your actions. This allows you to adjust your strategy and align your being, state, and emotions with the person and desired outcomes. She also states that it is important to be open to changing outcomes and updating your own understanding of desired outcomes.
Changing a Leader’s Influencing Approach
Huijin shares a case example of helping a leader change their influencing approach by coaching them through role plays. The example involves a transformational project where the key leaders’ relationship has become a barrier to constructive participation. To help the leader change their approach, Huijin explores several angles, such as the degree of care one has for the project and the importance of setting ambitious influence outcomes. Huijin gives examples of the choices the executive has to move forward and understand the degrees of freedom in influencing situations, such as defining one's role as defining the technical solution or pointing out where the leader needs more leadership. This can be done in one-on-one or small group situations. The book also discusses the use of the deliberate conscious influencing process in MBA programs, where participants go through real-life situations and role play to learn how they show up in the heat of the moment. By adopting this conscious influencing process, individuals can internalize it and apply it in various situations, both in school and beyond.
Expanding the Toolbox of Influencing
Huijin emphasizes the value of building common ground and shared objectives. Engaging the person about them and not just their thoughts about the task at stake is highly effective. This is important in situations where people's motivation is in doing the difficult work. To build a strong connection with the client, it is essential to delve into their feelings about themselves, identity, attitudes, and inspiration related to their work and the task at hand. Another underused tactic is confronting, which involves acknowledging that they may not feel the same way about something, they may have different beliefs. Asking them to tell more about their point of view helps build a deeper foundation of shared understanding and feelings, and enables a stronger foundation on which to deal with difficult situations or tasks.
Setting High Ambitions
Huijin talks about Linhart's high challenge, high support model. This model involves setting high ambitions for oneself, which can apply to influence effectiveness, leadership, sports, parents, and business situations. High support often comes in the form of quality feedback, real-time feedback, as it helps improve self-awareness and confidence. She also mentions potential sources where freelancers can get high support. Huijin emphasizes the importance of reflecting on your why, and the positive outcome you want. This involves paying attention to purpose and ethos, and most importantly, individuals. She explains that this will introduce new horizons about what you are doing. High challenge and high support models can help individuals develop their influence skills and achieve greater success in various aspects of their lives.
Timestamps:
06:48 The three qualities of an influencer
10:48 Basic tools of influencing
12:41 The importance of intentionality in influencing leaders
15:37 A case example of leadership challenges in influencing
19:13 The power of appealing to shared objectives in influencing
25:07 How others can help you develop influence skills
Links:
Website: www.positiveinfluence.life
Book: https://www.amazon.com/Positive-Influence-First-Last-Leadership/dp/1944660569/
Company: https://www.linhartgrp.com/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Richard Langlois, author of the book The Corporation and the 20th Century: The History of American Business Enterprise, and Will Bachman discuss the transition from entrepreneur-led businesses to modern multi-unit businesses. Richard talks about the drivers behind this transformation, including antitrust, which led to unintended consequences such as making coordination between firms illegal, and the shift from vertically integrated businesses to modular corporations. His book highlights the impact of the depression, which eliminated many financial institutions, making it possible for internal capital markets to function and fund innovation. His book also explores the issue of price controls and government interference with markets also interfered with market mechanisms, making it difficult for smaller businesses to coordinate resources.
From Entrepreneur-led Businesses to Multi-unit Businesses
Richard explains that the rise of large companies and far-flung enterprises in the mid-20th century required conscious management and professional managers who weren't also owners, and that transactions in a market require market supporting institutions, such as financial markets and legal systems, which can be provided in a decentralized way or within the firm. He argues that the success of large, vertically integrated corporations is partly due to the lack of success of alternatives to these structures. Antitrust also plays a role in this transition, as it made it difficult for firms to engage in complex contracts and do things internally. He talks about how the transition from entrepreneur-led businesses to multi-unit businesses was driven by factors such as antitrust, the Great Depression, World War 2, and the New Deal. Richard offers a few examples of antitrust in action with the concept of block booking, where movie studios pre-sell entire blocks of movies to cinemas without allowing them to preview them first to ensure the studios could recoup costs of production.
Another interesting aspect he cites is the leverage theory. Taking us back to the 1930s, he talks about IBM who used control over proprietary punch cards to sell their mechanical computing equipment to maintain quality control and price discrimination, which is charging high prices to those who want the product and low prices to those who don't. He goes on to explain how this became the "one lump of monopoly theory," and what this means.
The History of Leasing Machines and Government Opposition
Richard explains the concept and history of leasing machines, which began in the early industrial revolution. In Britain, the textile industry was highly vertically disintegrated. Entrepreneurs could rent equipment to get into manufacturing products. This allowed entrepreneurs to lower upfront fixed costs and easily enter the business. However, the federal government's antitrust policy made it difficult for companies to lease their machines and wanted them to sell them. This led to lawsuits against them from the entrepreneurs who, once they knew how to use the manufacturing equipment, decided they wanted to break the lease to rent cheaper equipment from a competitor. However, manufacturers enforced long leases and prevented customers from buying cheaper equipment elsewhere, and breaking their original lease. This practice was seen as anti-competitive, as retailers couldn't compete on price, but manufacturers wanted retailers to compete on quality, service, repairs, and service rather than price.
Resale Price Maintenance
In the early 20th century, companies would charge high prices for complex products like vacuum cleaners and washing machines, which required hard salesmanship and servicing. This discouraged customers from visiting full-service showrooms and purchasing cheap products online. Resale price maintenance is a strategy to prevent resellers from freeriding on services, but the antitrust authorities argued it was anti-competitive because it wasn’t allowing resellers to compete on price. This was partly intellectual and partly thinking that businesses tend to be anti-competitive, and partly in the interest of consumers. He talks about management consulting and the role of scientific management and how it is all about learning through trial and error, and coming up with new theories.
Regulating the Corporation and Controversial Opinions
One view on antitrust is that it is driven by what profit opportunities there are in the world and what relative prices are. He believes that part of the reason the large corporation got torn apart into much more specialized corporations was in part that market supporting institutions had come back to life, capital markets were working again, and external capital markets were more effective than internal capital markets and firms. Regulations were impending innovation, and so there were profit opportunities for entrepreneurs who could pressure Congress and the executive branch to try to undo some of the regulations that made it hard for them to innovate.
He states that it is important to be aware of the potential unintended consequences of antitrust. He argues that if antitrust goes against complex contracts as anti-competitive, it could lead to people hiding those contracts within the boundaries of the firm. This idea is controversial, as it suggests that the history of corporations was a story about institutional choice and some institutions being preferred over others.
Deregulation, Holding Companies, and Pyramidal Business Groups
Richard talks about the common belief that the rise of neoliberalism in the late 1900s led to deregulation, but he argues that most of the deregulation occurred before this, as the market economy transitioned from the Depression and World War Two. He goes on to talk about the concept of holding companies, which were once common in the early 20th century, and how most industrial organizations today are organized around business groups, with a family or foundation at the top owning controlling shares and subsidiaries, but The US is an outlier in this, due to public policy concerns about allowing one company to own the stock of another. Richard talks about private equity in the modern corporate world, wholly owned subsidiaries, and majority and minority stockholders.
The Modular Corporation
The corporate form of corporations evolved over time and became more akin to the incorporation of modules. These modules are created like personal computers, allowing them to interact and buy shares from other modules without necessarily being integrated with their operations. This modularity was a key factor in the creation of the corporation and it differs from the vertically integrated business model where everything is connected to everything, but this doesn’t scale well. So, as corporations grew, they began to recognize the need for modularity, breaking up operations into smaller pieces that didn't constantly transmit information to each other. These modules were wholly-owned subsidiaries, for example, Chevrolet was a module of General Motors. During the conglomerate era, people could buy these divisions from one another. This allowed them to operate through the interface of the market and the corporate hierarchy.
The US Monetary System and the Gold Standard
Richard Langlois discusses the history of the US monetary system, which was initially tied to gold. This was a conscious decision by business interests, particularly those involved in international trade, to ensure the currency was taken seriously by other countries like Britain. However, the US imposed tariffs to protect manufacturing interests, which were essentially attacks on exporters. Exporters, who were primarily farmers, wanted a weak dollar, while importers and financiers wanted a strong dollar. Keeping the currency low was a common strategy in developing countries. Anchoring to the gold standard kept the currency stable. The 19th century saw the demand of a mixed standard with silver. This was driven by inflation, as tying money to other items led to more money and a decrease in the value of the dollar. The West, who were exporters, supported free silver, and the East, who were financiers dealing with the British and importers, wanted a strong dollar. The monetary macro was simpler in the days of a fixed metallic standard, which stopped happening after World War One. After World War One, the US was technically on the gold standard, but it was a managed gold standard where people hoarded gold. Most economic historians believe that these manipulations led to the Great Depression, as the Federal Reserve had just been created without knowledge of its actions and allowed the country to fall into a depression.
Timestamps:
01:22 What drove the transformation into the corporate world
05:17 Transactions in a market require institutions
07:36 Antitrust and anti-trust
05:39 Why did we see the end of the large managerial firm?
09:44 Leverage theory and hedging
15:09 The one lump of monopoly theory
20:37 How to stop free riding
27:12 How important are ideas in anti-trust policy?
32:03 Why did holding companies become illegal?
37:12 Why vertically integrated companies were precluded by deregulation
44:33 Recommended biographies
Links:
http://langlois.uconn.edu/
The book: https://www.amazon.com/Corporation-Twentieth-Century-American-Enterprise-ebook/dp/B0BRBWG6LX/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Soren Kaplan, author of Experiential Intelligence: Harnessing the power of experience for personal and business breakthroughs, talks about his book, his experience as a consultant, and the software company he founded, Proxy.com, to digitize his consulting processes and help other consultants and Fortune 1000 clients scale their processes.
Soren decided to scale up his experience in executive education, leadership development, and innovation and strategy work, which led him to create the no-code software platform he uses to digitize his own consulting work processes and create annuity revenue streams.
SaaS as a Service Business Model for Consultants
Soren's team has done extensive work in work process digitization, and they realized that the best scalable way to do this is to create a platform that anyone can use to do it themselves or help others do it in a fast and easy way using no-code software. Soren talks about the first application and use case and how it helps consultants to access templates and processes, and streamline workflow.
Soren's innovation consulting experience led him to create a platform for running the innovation process for a large steel manufacturing company. He shares how the team has their customized process digitized in a workflow that their entire team can now use in a repeatable way. He explains that the software is a SaaS software as a service business model, combining consulting with work process design.
Soren explains the innovation process: idea generation, validation, and implementation. The process involves evaluating the different dimensions of the first phase, selecting which ideas to move forward, and then evaluating the results. The process then moves on to validation, where the user evaluates the assumptions and moves them to the next phase. The digitized workflow allows individuals or teams to view their entire portfolio as a dashboard, showing pipeline, portfolio maps, and financials. Teams can work through their own product ideas and provide access to the dashboard for reporting. The application also includes tools for execution and dashboard elements for reporting.
A Branded SaaS App for Consultants
Soren talks about the low cost of the digital application, as it digitizes hundreds of tools and templates. For example, a PowerPoint or Excel file can be converted into an interactive template online, making it more cost-effective for clients. The sales process is the engagement process, with the cost depending on the level of customization. The Praxietool is similar to SaaS software, with a monthly fee per user. He explains how a consultant can use the platform to develop their own business process software, and how the pricing model is adapted to the user and the customization. The business model is being built with tools which allow consultants to build their own branded processes within it.
Soren explains that the platform is built in the Google Cloud, which allows for easy security and billing. The platform also provides an annual fee for consulting clients, which includes technology and consultative support. The revenue share is determined by the number of users and the different apps available. Consultants can quickly build their own SaaS application for their branded processes and tools, and sell them. This becomes an ongoing, billable opportunity, making it profitable for the consultant.
Soren believes that having a software platform or application that supports best practices with clients is an opportunity to sustain the relationship. He suggests checking in quarterly or annually to check in on the process, modify and update it, and using the software to help build and sustain client relationships.
Soren talks about developing a robust portfolio of work, which now includes writing for Ink Magazine, Psychology Today, Fast Company, and books on creating a culture of innovation and leadership for innovation. He also engages in consulting, developing business strategy, and creating innovative portfolios of products and services for companies. His speaking engagements often lead to consulting and sometimes a day or two-day stay with the leadership team.
Experiential Intelligence Explained
Soren explains the concept of experiential intelligence and how it combines IQ, EQ, emotional intelligence, and experiences. It is the intelligence gained from our experiences, which are broken down into three components: mindsets, abilities, and skills. Experiential intelligence is a combination of IQ and EQ, which are essential for leadership, change management, and alignment in organizations. In today's fast-changing world, the combination of these factors is not sufficient. Soren's book highlights the importance of experiential intelligence, which is the combination of IQ and emotional intelligence.
Experiential intelligence is a key factor in today's disruptive world, as it helps individuals develop their skills and abilities, as well as their ability to live with uncertainty or ambiguity. This experiential intelligence is not just about street smarts, but also about understanding the other dimensions of an individual's experience that are not yet recognized as such. Executive interviews often focus on a candidate's experience, such as their experience in a supply chain role. However, experiential intelligence can also be a valuable tool for leaders to understand their own mindsets and personal experiences. Experiential intelligence can be applied to both individual and team members, as it allows leaders to probe for life experiences that have shaped their abilities and contribute to the overall success of their teams. This can be particularly valuable in the hiring process and in the hiring process of existing teams. He explains that experiential intelligence is a valuable tool for leaders to understand and leverage their experiences, skills, and hidden assets, outside of their resume, to create a more effective and successful team.
Building a Robust Corporate Culture
Soren emphasizes the importance of understanding and applying culture to create corporate culture. Culture is created from people's experiences, which reinforce assumptions about what is good or bad and the environment. Leaders can intervene by changing experiences and reshaping assumptions and culture. One way to do this is to look at and scale best practices within the organization. This involves identifying the experiential intelligence of both individuals and teams and highlighting their stories. This can be achieved through training, recognition, awards, and rewards. Another way to build teams is to recognize and leverage assets that may not be fully appreciated within teams. He shares the example of a Fortune 1000 company team after the COVID pandemic. This process allowed the larger department to identify new assets and apply them to their business strategy. This empowering process allowed people to surface their individual strengths, see how they contribute to the team, and apply them into the organization's future business strategy.
Soren shares exercises that anyone can use to reflect on their own experiences and inventory their mindsets, abilities, and know-how. He suggests using this information to identify gaps, seek out other experiences, or realize their capabilities that they weren't fully utilizing, and he offers a personal example. He suggests thinking back on the experiences that have the biggest impact on their trajectory in life, whether they are difficult or positive. This can help them live with ambiguity, which is essential for startups and decision-making. Soren's experiences have helped him coach leaders and understand culture quickly. The next level involves dividing experiences into positive and challenging ones, focusing on the mindsets and skills that were learned from them. This baseline can be used to reassess how to use these experiences to improve performance, create new service offerings, or contribute to their team or others.
Timestamps:
01:10 Why Soren started Praxie.com
04:44 The product development process of Proxy.com
13:41 How the Praxie platform works for consultants
15:58 How billing works for consulting companies
23:47 Experiential intelligence and how it works
32:48 How leaders can intervene and reshape culture
37:48 Developing experiential intelligence through difficult and challenging experiences.
Links:
Company: https://praxie.com/
Website:SorenKaplan.com
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
James Agres is the founder of Second Street Strategy, an independent consulting firm focused on private equity and commercial due diligence work. He has experience in various industries, including software, industrial, and healthcare. James discusses the importance of market sizing in commercial diligence projects.
In this episode, he talks about the importance of market sizing varies project to project, and how it helps businesses understand the size of opportunities available to them. A large market can represent a large opportunity, while a small opportunity may be more limited. James explains that understanding the market's competitive dynamics, market share, and growth drivers is crucial for businesses.
James shares the different terms for market size, such as total addressable market (TAM), serviceable addressable market (SAM), and serviceable obtainable market (SOM). The total addressable market is the total population of the town, the number of haircuts, and the price of the haircut. The serviceable addressable market is the percentage of the town represented by men in a certain income demographic or willing to spend a lot on haircuts, and the serviceable obtainable market is the percentage of the town represented by men in a certain income demographic or willing to spend a lot on haircuts.
Determining Market Size
James explains that to reach the desired audience, businesses must advertise to the entire town or reach specific demographics and geography within the town. He talks about various market sizing approaches, including price times quantity and quantity times price, by segment. He explains that the most basic market sizing framework is price times quantity, which can be applied to dental practice management software. The market size is about half a billion, with 138,000 stores in the US and a close-to-100% adoption rate.
He offers another example of software used to manage reservations at state, national, and local parks in the US and Canada. The market size can be estimated using various methodologies, such as the p times q methodology, which uses data on visitor numbers, pricing, and vendor percentages. The state parks and target organizations can also be used to determine their market share and percentage charges. James presents various market sizing approaches, including price times quantity and quantity times price, to analyze the market size of various industries. By utilizing these methods, he aims to provide a comprehensive understanding of the market size and competitive landscape in the dental practice management software market.
Estimating a Company’s Market Share
The second method involves estimating a target company's market share based on their revenue. This method assumes that all competitors operate similarly to the target company. This method can be applied to the rest of the market, as well as to the target company's market share.
The third method involves estimating the adoption rate of a product or service. For example, the market for waffle service is a complex one, with 680,000 restaurants in the US and a significant number of hotels and restaurants. To estimate the percentage of restaurants serving waffles, various methods are used, such as industry interviews, menu data, and analysis of menus. The adoption rate of about 10% is crucial for market size sizing, as it is often the hardest variable to determine when considering price and quantity.
James advises that, In the context of due diligence, it is essential to gather data and make critical assumptions to determine the pricing of a target. This can be achieved through various methods, such as talking to customers, analyzing restaurant and hotel data, and contacting competitors or market participants.
Where to Get Good Quality Data
In industries where the quantity is not well-known, such as the number of dentists, it is possible to get the quantity side of the equation by using good quality data. This can be obtained from sources like the Bureau of Labor Statistics. However, when the quantity is not available, different methodologies can be used, and James shares the various methodologies and software that can be used. James also explains the importance of understanding market size in nascent or new markets, and growth markets, such as the market for vocal biomarker software. This technology is used to detect behavioral health conditions and cardiovascular diseases, such as respiratory distress during the COVID-19 pandemic. He talks about the need to understand the actual use cases for technology, the different routes to market, and potential users of the technology.
Pricing Strategies and Technology Usage in Market Sizing
James talks about the importance of asking questions about pricing, such as competitors' pricing strategies or other clever ways to get people comfortable responding. Overall, he emphasizes the importance of understanding market size and the need for a well-rounded approach to understanding and addressing market trends and opportunities.
When using technology, James suggests that the first question should be "What AI tools for what use case?" This helps build a foundational number from which to apply different criteria to build a market size further. He also discusses the possibility of triangulating the market size using different approaches and methodologies, such as using the same set of assumptions for each methodology. He also discusses the importance of understanding the difference between different methodologies and the need for additional data to remediate any errors. He states that multiple methodologies for the same market should aim to produce the same result, and that the question should be asked about the right data to help determine the appropriate pricing strategy.
James emphasizes the importance of understanding the pricing in a particular industry, particularly in the cybersecurity solutions market. Some industries may be relatively transparent, while others are more picky and pricing is difficult to obtain. To size the market, Agres suggests using publicly available information, such as online forums and system administrators' subreddits.
Cybersecurity Solutions and Determining Market Size
James shares that collecting market size data can be challenging in some industries and cites cybersecurity solutions as being a difficult one to gather data on as the exact size of the market is not as relevant as the market size. Instead, Agres suggests using Gartner data to understand the specific segments where the solution is most applicable. James suggests that to get to a more precise definition of the market, and figure out exactly which segment the target is relevant to is extremely important. He also discusses the challenges of predicting market size in industries like building products and construction. He suggests using data from various sources, such as EIA data, to build a model that accurately represents the market size. Additionally, there is the need for a more precise definition of the market and determining which segment the target is relevant to and he shares a few unusual examples such as the market size for fire doors and the market size for waffles.
Timestamps:
01:32 The different types of market size
07:03 How to estimate the size of the market
11:54 Example case studies to understand market size
17:57 Example of a market for next generation 911 software
22:37 Measuring the market size of the deep foundation
25:17 The market for fire and security alarms
30:54 How do you determine market size for AI?
35:36 Favorite questions to ask around pricing
40:13 Providing multiple layers of market size to private equity
Links:
Website: https://www.2ndststrategy.com/
CONTACT INFO:
https://www.linkedin.com/in/jamesagres/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Brian Ortiz talks to Will Bachman about their use of various tools and CRM systems to manage their LinkedIn presence which has 70,000 followers. Brian talks about his history in marketing, his move into real estate investing, his purpose on LinkedIn, and the CRM tools he uses.
Brian explains how he manages the actual inflow of messages, especially when dealing with heavy volume. He talks about an interesting system where he can reply quickly by using specific keywords or dates in their replies, and how he uses LinkedIn’s data system which allows them to sort and segment by different criteria.
Brian explains that he initially lost 50-60% of messages in the shuffle, but now he has a system where they can filter and sort messages into as granular groups as possible. He also has assistants who go through the CRM and spreadsheets to maximize the volume and ensure no important messages are lost.
Using AI and CRM Tools to Manage Message Flow
Brian talks about using AI and what he looks for when investing in projects. He also offers advice on how to manage viral posts and the volume of inbound messages has increased quickly. Brian shares the tools he uses based on the type of post or his schedule for the week. He mentions LeadDelta, and the features this system offers. He also mentions FOLK, a system that is similar to Google Sheets, to manage contact information. Another go-to CRM system is Raindrop, which allows him to save messages in the system and it has an extension in Chrome. Brian explains how you can use LinkedIn to download and manage messages. He shares some inside information on LinkedIn’s messaging algorithm. He shares important tips on consistent patterns when messaging in large volume and the benefits of manual messaging. He also offers working insight into LeadDelta to avoid violating LinkedIn’s rules of engagement and how it competes with LinkedIn’s services.
Brian shares how he manages his large volume of connections and why he keeps 400 open slots. He talks about the LinkedIn loophole he found and the value of messaging and not just following.
Frequency of Posting Content
Brian initially was hesitant to post content, but with 73,000 connections, people send him lists of investors to him. He uses tools like Tap Leo, which shows other people's highest engaged content to see what is popular and engages a high volume of views. If a gated post generates two or three million views, Brian sends a quick message to the creator, asking if they want Brian to share it. He also still posts investing or startup contrarian posts on LinkedIn, and follows around 100 people. He has trained his virtual assistant to recognize high-velocity posts and repurpose them for different content. He combines high-velocity posts to create unique insights into high-demand topics, and the engagement process improves monthly.
Brian's philosophy is that the time of day when posting is irrelevant. High-quality A+ content will go viral, and the algorithm will start determining how people are interacting with the post. The first hour after posting, the algorithm determines if the post is good, and the time of day is irrelevant. Overall, engagement will be similar regardless of the time. Brian suggests posting three or four times a week, allowing high-volume, high-engagement posts to fully extend. People expect a certain volume, but excessive posting can decrease perceived value. Brian also talks about flubbed posts and what to do to increase the reach and engagement of your content, and also the two worst-performing types of posts, and the cost of a self-congratulatory post.
Timestamps:
06:49 Managing viral Linkedin posts
10:53 Managing the volume of messages
15:31 How do you use Linkedin other inboxes
20:09 How to deal with connection requests
24:41 The content strategy Brian uses
28:18 Time of day to post and frequency
33:05 The problem with patience and patience
37:44 Sticking to a general topic area
CONTACT INFO:
https://www.linkedin.com/in/brianvortiz/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
LinkedIn has become a powerful platform for professionals to connect, share insights, and build their personal brand. But how can executives effectively leverage LinkedIn to maximize their content strategy? To answer this question, Will Bachman talks to Justin Nassiri, founder of Executive Presence, who conducted a comprehensive analysis of client posts on LinkedIn. Justin talks about software his company uses for data analytics to see valuable data on engagement and trends and how to use it.
The Power of the Hook
One of the most significant insights from Justin’s analysis is the importance of the hook in LinkedIn posts. The hook refers to the first line of a post, which aims to capture the reader's attention and entice them to engage further. Nassiri emphasizes the need for a bold and provocative hook, stating, "The first line of a post really determines its success." By taking an extreme stance or making a surprising statement, executives can stop the scroll and compel readers to delve deeper into their content.
Justin advises executives to avoid generic and overused hooks, such as "I'm humbled to be featured by Forbes." Instead, he suggests crafting hooks that are concrete, surprising, and contrary to common beliefs and offers a few examples. Furthermore, Nassiri highlights the importance of formatting the post to make the hook stand out. By using line breaks and creating distinct lines, executives can make their hooks more visually appealing and increase the chances of capturing readers' attention.
The Visual Advantage
Another key finding from Nassiri's analysis is the significant impact of visuals in LinkedIn posts. According to the study, posts with photos receive 115% more views than those without any visual content. Graphics, on the other hand, result in a 28% increase in views. He emphasizes the need for original and relevant visuals. Stock images are not effective in capturing readers' attention and should be avoided. Instead, executives should use their own photos or graphics that directly relate to the content of their posts. For example, if the post discusses leadership, including a photo of a team or a relevant graphic can enhance the post's impact. Justin also offers a few tips on how to generate ideas for visual content.
The Power of Data Analysis
Beyond the specific findings, Justin highlights the broader value of LinkedIn as a tool for data analysis, and how executives can use LinkedIn to gain insights into the topics and ideas that resonate with their audience. By analyzing the performance of their posts, executives can identify their "zone of genius" and focus on topics that generate the most engagement. He encourages executives to view LinkedIn as a platform for testing and refining their content strategy. LinkedIn provides a data-driven approach to understanding what content is valuable and to whom. This data-driven approach allows executives to refine their messaging and focus on topics that truly resonate with their audience.
The insights from Justin’s analysis have significant implications for executives looking to enhance their presence on LinkedIn. Looking ahead, it is essential for executives to continue evolving their content strategy on LinkedIn. While certain tactics may become overused or lose their effectiveness over time, the fundamental principles of effective writing and storytelling remain timeless. Executives should strive to provide valuable insights, educate their audience, and create engaging content that resonates with their target audience.
Frequency of Posting on LinkedIn
Another important aspect of LinkedIn thought leadership is the frequency of posting , the type of post, and the audience. Justin explains how the post is displayed, breaks this down line-by-line, and emphasizes the need to post consistently and frequently, recommending two to five posts per week. He highlights the significant impact of increasing the frequency of posts, with a three and a half times increase in monthly views and a 3.7 times increase in monthly likes when going from two to three posts per week to five posts per week. He also suggests posting at 7am local time, as this allows for maximum visibility and engagement.
Content Development Tips
In terms of content, Justin advises against using articles, links, and reposts. Outbound links and reshared content tend to receive significantly fewer views compared to original posts. However, Nassiri provides two workarounds for including links in your posts. One option is to publish the link as the first comment in the post, while the other is to add the link after the first hour of the post. He talks about how short-term fads can be exploited but should not be relied on as evergreen content. Justin recommends ending your posts with a statement rather than a question. According to his analysis, posts that end with a question perform 30% worse than those that end with a statement. This suggests that people may be fatigued by the overuse of questions to drive interaction. Instead, focusing on authoritative content with clear takeaways and actions can lead to better engagement. Justin shares pros and cons on the types of content commonly created.
In conclusion, optimizing your LinkedIn thought leadership requires a strategic approach. By using visuals effectively, posting frequently, avoiding articles and links, and ending with statements, you can enhance your visibility and engagement on the platform. As LinkedIn continues to evolve, it is crucial to stay informed about algorithm changes and adapt your content strategy accordingly. By following these insights from Justin Nassiri, you can position yourself as a thought leader on LinkedIn and maximize your impact in the professional community.
Timestamps:
01:19 Methodology and scope of the study using Shield App.ai
02:09 Insights from the study: Best practices in posts
04:39 Importance of the first line and the need for bold and provocative statements
09:40 Tips for creating a strong hook and the importance of distinct lines
10:14 Factors affecting the visibility of the post and the need to entice viewers to click "See more"
14:07 Importance of using original and relevant photos in posts
17:35 Selfies may not perform as well after algorithm change.
19:11 The best time and frequency to post
26:28 What to avoid in LinkedIn posts.
32:12 How to end a LinkedIn post
Links:
Website: ExecutivePresence.io
CONTACT INFO:
Justin@executivepresence.io
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Will Bachman welcomes Alex Boyd, the founder of Revenue Zen, a B2B organic growth marketing firm. Alex talks about organic growth marketing and how it is simply sharing knowledge about a product or service through platforms like websites, forums, and social media without relying on paid advertising. Alex's strategy works because clients are drawn to the content and reach out to him. He is now helping other B2B companies achieve success through organic growth marketing.
Developing Organic Content for B2B Markets
Alex Boyd works with B2B clients who typically have an average order value of at least 20k to 50k or more. He helps them to find their voice, clarify their thought process, produce content, get it out there, and watch that turn into leads and pipeline. His clients are usually software companies, consultancies, and other service providers who sell digitally and have a higher than average ticket size. By writing LinkedIn content that is well targeted and speaks to their audience and producing blog posts that are targeted to niche, lower volume keywords, his clients can see a huge ROI with just a few leads.
Alex talks about how they help software companies create content. He explains how they have a structured interview with the founders of the companies to understand their needs and goals, and draw out their expertise. Then, they create content that focuses on the specialty of the company as well as how technology can be used as part of the process. He emphasizes that the founders may not be social media writers, but they can provide valuable insights on how to implement the solution. Alex offers a sanitized case study of a software client. Most of his clients receive targeted, well-written content that they can post themselves.
Alex’s business helps clients craft effective social media content that can help them generate leads. He advocates for a structured interview process to draw out the client's expertise, and then they can coach them or produce content that the client can edit. Alex shares a few interview questions that help draw out valuable information on the company that helps build engaging content that yields results. He identifies the type of content that works.
Tips on Creating Engaging Content
He suggests starting with an origin story, as it helps the client's network to understand why they started the business. He also suggests asking about the client's favorite interview questions to draw out the information. Alex believes that making up content for social media does not work, and that it is important to draw out the expertise and knowledge of the client to create effective content. He emphasizes the need to be short and insightful in content marketing.
Alex explains how to manage reaction and engagement to social and content posts, and how to transition from commenting on someone's posts to having meaningful conversation. He offers tips on backlinks, messaging and responding, and how to prep the groundwork for posts. Alex said that the majority of the 135 engagements he has brought in from his LinkedIn posts and comments have been inbound. He suggests that the best way to have a conversation with someone is to have a natural conversation that doesn't have a direct lead into one's service but is still relevant. Will asks for tips on how to move from commenting on someone's posts to having a live conversation. Alex suggests providing a targeted note expressing interest in talking and engaging in meaningful conversations that don't lead to a sales pitch. He adds that the best conversations are those that don't lead to a sales pitch but are still relevant.
When engaging potential customers on social media, it is important to be mindful of how you approach them. Instead of leading directly into a sales conversation, it is best to demonstrate your expertise by asking questions that show your credibility. To do this effectively, ask questions related to the topic that you know about, and make sure they include your expertise. For example, if your expertise is in SEO, you could ask questions about backlink distribution and content production. Pretend you are giving a micro-consulting engagement and think about the value you can provide. This will help you create questions that demonstrate your expertise without feeling like a sales pitch.
How to Gain and Engage with Clients on LinkedIn
Alex explains how to choose questions that demonstrate your knowledge, and how to comment on a LinkedIn post. In addition to using a Sales Navigator account in order to highlight posts from those people, he suggests using a bookmarking system or a spreadsheet to track the posts, and how focusing on a smaller group of potential leads is the best way to comment on relevant posts.
Alex also suggests engaging with other people in the same space, such as influencers, consultants and software companies, as this can be more effective than engaging directly with the prospects. To find these people, Alex suggests creating pre-made influencer lists, which can be done by looking at which creators and consultants get the most engagement from decision makers. Finally, Alex recommends having offline conversations with others who also sell to the same market.
Alex talks about the software he created, Aware, to help with posting content on social media which orchestrates all LinkedIn activity on one platform to organize the process and save time. The typical person using Aware are usually growing on LinkedIn but want to spend less time managing LinkedIn data.
Sales Leadership on Social Media
Alex shares tips on how to drive engagement and points to Dan Morris as an example, whose posts do not get a lot of engagement but are targeted to a specific niche and resonates with them. He suggests creating content that is targeted to the right audience and that asks questions or request for reposts to encourage engagement.
He talks about sales leadership and how to best use social media to increase engagement and reach more people. One of the tips is to make sure the first couple of lines of a post are as powerful as possible, and to take the best line from the end of the post and put it at the beginning. He also shares how to respond when a post does gain a lot of attention to take advantage of the momentum. He suggests that virality often does not lead to much net new pipeline and it can even be distracting. If clients do have a post go viral, Alex suggests that they not try to respond to everyone, but instead look for the signal in the noise and prioritize business development. Alex also offers insight on the best and worst days and times to post on LinkedIn.
Alex states that it is more important to post quality content than to post frequently. He suggests that people should choose a quality threshold above which their content must be and be consistent. He also advises against pushing out half-assed content in the name of frequency. He suggests that if people are able to spend 3-4 hours a week planning and creating good content, they will do better. He also offers recommendations on formatting content whether text, video, or images. He also offers one last piece of advice on sharing content for best results.
Timestamps:
01:30 Unlocking the Potential of Thought Leadership for B2B Clients
06:36 Uncovering the Power of Interviews for Content Marketing Success
13:03 Connecting with Social Media Engagers
14:54 Transitioning from social media to Live Conversation
18:22 Commenting Tips for LinkedIn
25:16 Proactive Ways to Engage with Clients and Followers
25:48 The Benefits of Using Aware for LinkedIn Success
31:23 Tips for Generating Engagement on LinkedIn
35:32 Maximizing Engagement and Business Development Through Social Media Posting
Links:
Website: https://revenuezen.com
Website: https://useaware.co
CONTACT INFO:
LinkedIn: https://www.linkedin.com/in/alexcboyd/
Get in touch with Alex: https://www.gated.com/@alexboyd
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Will Bachman welcomes Alex Boyd, the founder of Revenue Zen, a B2B organic growth marketing firm. Alex talks about organic growth marketing and how it is simply sharing knowledge about a product or service through platforms like websites, forums, and social media without relying on paid advertising. Alex's strategy works because clients are drawn to the content and reach out to him. He is now helping other B2B companies achieve success through organic growth marketing.
Developing Engaging B2B Content
Alex Boyd works with B2B clients who typically have an average order value of at least 20k to 50k or more. He helps them to find their voice, clarify their thought process, produce content, get it out there, and watch that turn into leads and pipeline. His clients are usually software companies, consultancies, and other service providers who sell digitally and have a higher than average ticket size. By writing LinkedIn content that is well targeted and speaks to their audience and producing blog posts that are targeted to niche, lower volume keywords, his clients can see a huge ROI with just a few leads.
Alex talks about how they help software companies create content. He explains how they have a structured interview with the founders of the companies to understand their needs and goals, and draw out their expertise. Then, they create content that focuses on the specialty of the company as well as how technology can be used as part of the process. He emphasizes that the founders may not be social media writers, but they can provide valuable insights on how to implement the solution. Alex offers a sanitized case study of a software client. Most of his clients receive targeted, well-written content that they can post themselves.
Developing B2B Social Media Content
Alex’s business helps clients craft effective social media content that can help them generate leads. He advocates for a structured interview process to draw out the client's expertise, and then they can coach them or produce content that the client can edit. Alex shares a few interview questions that help draw out valuable information on the company that helps build engaging content that yields results. He identifies the type of content that works.
Tips for B2B Engaging ContentHe suggests starting with an origin story, as it helps the client's network to understand why they started the business. He also suggests asking about the client's favorite interview questions to draw out the information. Alex believes that making up content for social media does not work, and that it is important to draw out the expertise and knowledge of the client to create effective content. He emphasis the need to be short and insightful in content marketing.
Alex explains how manage reaction and engagement to social and content posts, and how to transition from commenting on someone's posts to having meaningful conversation. He offers tips on backlinks, messaging and responding, and how to prep the groundwork for posts. Alex said that the majority of the 135 engagements he has brought in from his LinkedIn posts and comments have been inbound. He suggests that the best way to have a conversation with someone is to have a natural conversation that doesn't have a direct lead into one's service but is still relevant. Will asks for tips on how to move from commenting on someone's posts to having a live conversation. Alex suggests providing a targeted note expressing interest in talking and engaging in meaningful conversations that don't lead to a sales pitch. He adds that the best conversations are those that don't lead to a sales pitch but are still relevant.
Engaging with Prospects on Social Media
When engaging potential customers on social media, it is important to be mindful of how you approach them. Instead of leading directly into a sales conversation, it is best to demonstrate your expertise by asking questions that show your credibility. To do this effectively, ask questions related to the topic that you know about, and make sure they include your expertise. For example, if your expertise is in SEO, you could ask questions about backlink distribution and content production. Pretend you are giving a micro-consulting engagement and think about the value you can provide. This will help you create questions that demonstrate your expertise without feeling like a sales pitch.
How to Gain and Engage with Clients on LinkedIn
Alex explains how to choose questions that demonstrate your knowledge, and how to comment on a LinkedIn post. In addition to using a Sales Navigator account in order to highlight posts from those people, he suggests using a bookmarking system or a spreadsheet to track the posts, and how focusing on a smaller group of potential leads is the best way to comment on relevant posts.
Alex also suggests engaging with other people in the same space, such as influencers, consultants and software companies, as this can be more effective than engaging directly with the prospects. To find these people, Alex suggests creating pre-made influencer lists, which can be done by looking at which creators and consultants get the most engagement from decision makers. Finally, Alex recommends having offline conversations with others who also sell to the same market.
Alex talks about the software he created, Aware, to help with posting content on social media which orchestrates all LinkedIn activity on one platform to organize the process and save time. The typical person using Aware are usually growing on LinkedIn but want to spend less time managing LinkedIn data.
Sales Leadership on Social Media
Alex shares tips on how to drive engagement and points to Dan Morris as an example, whose posts do not get a lot of engagement but are targeted to a specific niche and resonates with them. He suggests creating content that is targeted to the right audience and that asks questions or request for reposts to encourage engagement.
He talks about sales leadership and how to best use social media to increase engagement and reach more people. One of the tips is to make sure the first couple of lines of a post are as powerful as possible, and to take the best line from the end of the post and put it at the beginning. He also shares how to respond when a post does gain a lot of attention to take advantage of the momentum. He suggests that virality often does not lead to much net new pipeline and it can even be distracting. If clients do have a post go viral, Alex suggests that they not try to respond to everyone, but instead look for the signal in the noise and prioritize business development. Alex also offers insight on the best and worst days and times to post on LinkedIn.
Alex states that it is more important to post quality content than to post frequently. He suggests that people should choose a quality threshold above which their content must be and be consistent. He also advises against pushing out half-assed content in the name of frequency. He suggests that if people are able to spend 3-4 hours a week planning and creating good content, they will do better. He also offers recommendations on formatting content whether text, video, or images. He also offers one last piece of advice on sharing content for best results.
Timestamps:
01:30 Unlocking the Potential of Thought Leadership for B2B Clients
06:36 Uncovering the Power of Interviews for Content Marketing Success
13:03 Connecting with Social Media Engagers
14:54 Transitioning from social media to Live Conversation
18:22 Commenting Tips for LinkedIn
25:16 Proactive Ways to Engage with Clients and Followers
25:48 The Benefits of Using Aware for LinkedIn Success
31:23 Tips for Generating Engagement on LinkedIn
35:32 Maximizing Engagement and Business Development Through Social Media Posting
Links:
Website: https://revenuezen.com
Website: https://useaware.co
CONTACT INFO:
LinkedIn: https://www.linkedin.com/in/alexcboyd/
Get in touch with Alex: https://www.gated.com/@alexboyd
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Chris Heivly and Will Bachman discuss the concept of startup communities and the importance of building them. Chris is the co-founder of MapQuest, which was sold to AOL for $1.2 billion, and the author of the Build the Fort. His second book, The Startup Community Builder's Field Guide, focuses on how five simple lessons learned as a 10-year-old can set entrepreneurs up for startup success. Chris defines a startup community as a set of people involved in innovative activities in a particular geography. He explains that startup communities can be incredibly powerful in helping entrepreneurs to succeed and should be proactively built by providing resources, mentorship, and capital.
The Benefits of a Startup Community
Chris talks about the concept of startup communities and how they are no longer geographically bound. He believes that networks are essential in order to develop a successful startup community, and that all members of the community, such as corporate innovators, investors, founders, researchers, and university students, should work together for the greater good. Additionally, he mentions that the concept of startup communities applies to industry-specific communities as well, and not just geographically bound ones. He believes that the key to advancing technology is through startups and corporate innovation, and that these networks should be utilized to the fullest extent.
Chris points out that it is important to rely on people outside of one's geographic network to build a successful community. He explains that it can be difficult for founders to invest time and energy into the community due to the amount of tasks they have to complete in their business. He mentions that it is important to build meaningful connections in order to make a successful community and connect with venture capitalists, local investors, and to get involved in the local economy to make sure that it is thriving, and that one will gain knowledge and potential customers by doing so. Chris suggests startup lawyers, marketing experts, economic development professionals, and people from universities want to ensure the success of startups and help create a vibrant local economy, and he shares a case study on a startup community he was involved with.
The Advantages of a Local Tech Scene
Chris talks about the advantages of being in a local tech scene, rather than working in a virtual space. He adds that the local physical advantage is that one can easily access mentorship and advice in a formal sense. He notes that this may come in the form of attending events, or engaging with other startups in the same building. He also points out that networking with local resources can be beneficial for finding answers to questions, and finding the right attorney for legal needs. He explains the importance of providing resources, such as programming and co-working spaces, to help new entrepreneurs get their businesses off the ground. Chris emphasizes the value of what they call gear, or ad hoc advice and mentorship, as an invaluable resource. These resources can be found through serendipitous sparks, such as running into people at coffee shops or events.
Chris suggests that the best way to create events and activities that will engage the community is to listen to what the people want and find a leader who is motivated to make a change. He encourages grassroots-style initiatives that come from the bottom up, and to move forward with the goal of helping or supporting others.
The Three A’s that Help Build Local Community
To help the local community, Chris suggests that it can be done in various ways, such as running a Little League team or getting involved in the arts. He recommends getting involved in the entrepreneur community and how it can have a great economic impact.
Chris talks about the three A's framework in his book which stands for actors, activities, and attitudes. This framework is designed to make the ecosystem more inclusive and inviting for everyone to play a role. Actors can range from economic developers, government bureaucrats, university people, corporate members, founders, investors, and more. Activities vary depending on the maturity of the ecosystem. Attitudes are the most forgotten part of the framework and are important in creating a collaborative, supportive, and inclusive mindset. Chris encourages everyone to adopt a better attitude and behavior in order to create a better ecosystem. He offers a few steps to drive this forward.
To build an active network that you can lean on, Chris suggests introducing two people from your network who don't know each other, and having a 'gift first mentality' by reaching out to others without expecting something in return. He shares a story from 2009 to 2010, where he ran around doing 275 connections in five months, and at the end asked a simple question: What can I do for you?. He encourages people to ask what keeps them up at night, and what their challenges are, so that they can be helped.
Building a Network of Trust
Chris believes that by helping others without expecting anything in return, a strong network of trust and support is created that can benefit everyone. He has met with over 4000 people in the Raleigh-Durham area to build these relationships. He encourages young people to do the same to get more done faster. In return, these contacts are more likely to help him with projects such as writing a book or speaking at events. Chris believes that by investing time and effort into forming meaningful relationships, success can be achieved more quickly.
Chris has encountered thousands of people over the past 15 years and has created a system of pre-investing with each of them individually. He explains that he has an open office hours system where anyone can sign up for a 20 minute meeting. He also explains that, although he doesn't have a strong connection with all 4000 people, he can activate them whenever he needs to. His purpose is to support and empower founders to create successful businesses and cities. He hopes to accomplish this through his meetings and connections. Chris shares a few success stories from the people he has met and connections he has made, and the path he took after the success of his startup MapQuest.
Timestamps
01:49 Building a Startup Community
03:47 Conversation on Building a Startup Community
06:48 Exploring the Benefits of Joining a Local Startup Community
13:58 The Advantages of Being Local in a Start-up Scene
16:52 Building a Startup Community in Raleigh, NC
25:14 The Four Stages of Ecosystem Maturity
29:33 Exploring the Benefits of a "Gift First" Mentality in Building Community Connections
36:33 Connecting People for Mutual Benefit
43:06 Career Development and Corporate Venture Funds
45:20 Writing the Build a Fort Series
Links:
Website: http://heivly.com/
The Book: Build the Fort
CONTACT INFO:
Twitter: @chrisheivly
Email: Chris@buildthefort.com
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
In this episode, Will Bachman talks to Adam Braff, a former McKinsey partner who specializes in data analytics. Adam has been using chat GPT to explore how this powerful tool can be harnessed for data analysis. He explores the implications and potential impact of this innovative approach.
The Quest for Analyzing Quantitative Data
The ability to analyze quantitative data using generative AI has long been a holy grail for many data scientists. While Chat GPT and other language models have proven their prowess in generating text and even creating visual content. Adam talks about how to tackle the challenge of applying these tools to analyze large datasets problems and uncover potential solutions.
Adam outlines four key aspects of the problem at hand. First, there is a need to upload data into the Chat GPT tool, as the existing training data may not encompass the specific dataset of interest. Second, an intuitive interface is required to facilitate a conversation with the tool, allowing for iterative exploration and analysis. Third, the ability to visualize the data in various formats, such as tables and graphs, is crucial for understanding and validating the results. Lastly, incorporating up-to-date contextual information about the world around us is essential to gain insights into correlations and patterns within the data.
Uploading Data: Bridging the Gap
To address the challenge of uploading data into Chat GPT, several options have emerged. One approach involves integration with popular spreadsheet tools like Google Sheets and Microsoft Excel. Users can interact with the data by writing formulas and commands directly within the spreadsheet software.
Another option is to paste data directly into Chat GPT, as long as it fits within the context window. This approach allows for a quick overview of the data and initial exploration of its contents. The ability to have a conversation with chat GPT is a significant breakthrough in data analytics. Adam highlights the emergence of third-party plugins that enable users to interact with the tool directly. These plugins, such as "chat with your data" and "chat with G sheet," bring us closer to the goal of conversational data analysis within the chat GPT environment.
Additionally, separate startups have leveraged APIs to connect with open AI models like GPT 3.5 and GPT 4. These startups, such as seek.ai and data DM, provide an alternative approach to interact with the data, although they operate outside the chat GPT window.
Code Interpreter: The 800-Pound Gorilla
Among the various solutions, Chat GPT code interpreter stands out as a powerful tool for data analysis. As an official open AI product, it offers a native and robust interface within Chat GPT. By activating code interpreter, users gain access to a chatbot-like interface where they can upload data, ask questions, and receive answers in real-time.
The code interpreter translates user queries into Python code, allowing for complex data manipulations and analyses. For example, if a user wants to analyze the correlation between variables or observe trends over time, code interpreter can aggregate and analyze the data accordingly. While the current interface may require users to refer back to the original spreadsheet for column names and other details, it provides a promising solution for non-technical analysts to engage with data.
Unleashing the Potential: A Case Study
To illustrate the capabilities of code interpreter, Adam conducted an analysis using three datasets: daily credit card spending on fast food brands, weekly food spending in various categories, and macroeconomic data from the Federal Reserve. The goal was to explore correlations between fast food spending, overall food spending, and economic conditions.
By uploading these datasets into code interpreter, Adam engaged in a conversation with the tool, asking questions and receiving insights on trends overtime. The analysis aimed to uncover potential drivers of spending on fast food brands and identify correlations with broader food spending and economic indicators. Adam explains the various types of analysis and data the tool can deliver and how it can be delivered.
Accessing a Python Interpreter
For those unfamiliar with Python programming, Braff provided guidance on how to access a Python interpreter. He suggested using platforms like Replit, which allow users to create a free environment for running Python code. Additionally, he mentioned that AI language models like ChatGPT can generate Python code for specific tasks, making it easier for non-technical users to experiment with programming. He emphasizes the importance of hands-on experimentation and encourages individuals to explore these tools to enhance their data analysis skills.
Navigating the Landscape of AI Tools
Adam talks about the landscape of AI tools and their potential applications in organizations. He talks about how he experimented with scraping. He stresses the need for a problem-solving framework and highlights the importance of breaking down complex problems into manageable steps. By understanding which parts of the problem-solving process AI tools excel at, users can leverage these tools effectively. Braff also emphasized the importance of experimenting with different modalities of interaction, such as step-by-step queries or end-to-end analysis, to find the most suitable approach for each problem.
Implications and Future Impact
The ability to analyze data using chat GPT and similar tools has significant implications for various industries. Adam talks about the problem of hallucination, where the tool is limited, and how far it is to becoming a plug and play data scientist. However, he explains how non-technical analysts can engage with data in a conversational manner, gaining insights and experimenting with how they ask questions and exploring correlations without the need for advanced technical skills. This democratization of data analysis opens up new possibilities for decision-making and problem-solving. Investors, corporate executives, and researchers can leverage chat GPT to uncover hidden patterns and trends within their datasets. By understanding the correlations between different variables, they can make more informed decisions and develop strategies based on data-driven insights.
The Role of AI Tools in Enterprise Data Analytics
When discussing the use of AI tools at the enterprise level, Adam acknowledges the need for caution and data security. He advises against randomly uploading corporate data into AI tools and highlights the risks associated with data leakage and potential misuse. To address these concerns, he mentions solutions like Microsoft Azure's OpenAI service, which allows organizations to run AI models locally and keep their proprietary data secure. He also mentions Chat GPT’s incognito mode, and the upcoming release of ChatGPT for enterprise tool, which will probably have additional safety guarantees. He talks about what the tool is being used for today such as crunching numbers and making predictions, in addition to coding and analytics and generative AI.
Implications and Forecasting
As the conversation draws to a close, Adam talks about using the tool for forecasting but that it will become better when the technology merges with browsers. He emphasizes the importance of continuous learning and experimentation, as well as the potential for individuals to enhance their skills in domain knowledge, statistics, and technical/data knowledge. He highlights the role of AI tools as a means of human augmentation, assisting users in their data analysis tasks, and talks about his writing and teaching work, and writes about how generative AI is used in teaching and learning.
Looking ahead, Adam predicts that AI tools will continue to evolve and improve, becoming more user-friendly and capable of handling complex analytics tasks. He emphasizes the need for organizations to embrace these tools while ensuring data security and compliance. By leveraging AI tools effectively, organizations can unlock the full potential of their data and drive better decision-making.
In conclusion, AI-powered tools like Code Interpreter and ChatGPT are revolutionizing the field of data analytics. While they have their limitations, they offer immense potential for organizations and individuals to gain insights from their data. By understanding the capabilities and limitations of these tools, experimenting with different modalities of interaction, and prioritizing data security, organizations can harness the power of AI to drive better analyses, generate value, and make informed decisions in an increasingly data-driven world.
Timestamps:
01:37 Options for uploading data into chat GPT
08:40 The interface of chat GPT code interpreter
12:25 The potential for non-technical analysts to use these tools
13:37 Example of using code interpreter to analyze credit card spending data
15:46 Using code interpreter
21:07 Experimenting with code interpreter and learning Python programming
23:34 Code interpreter can graph data, but limitations exist
25:16 Recommendations for using code interpreter effectively
34:33 Enterprise solutions for using code interpreter with proprietary data
35:45 Current use cases of code interpreter in companies
36:51 Using the GPT-3 tool for forecasting
Links:
Website: https://braff.co/genai-1
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Keith Durst runs Friends of Chef (FOC), a consulting firm that works at the intersection of hospitality and real estate. Keith has worked on major projects in 15 different states, and he lists several projects they have worked on in New York City, such as Rockefeller Center, Lincoln Center, the Whitney Museum, and Blackstone's corporate headquarters as just a few of his projects.
Reimagining the Rockefeller Center
Keith uses Rockefeller Center as a case study to explain the different stages and services his firm provides to their projects. The initial phase of the project involves understanding the needs and goals of the developer or owner. He talks about researching the market, designing the concept, and bringing it to life with construction. Finally, they help with the launch of the project and ensure its success.
The goal of the project at Rockefeller Center was to create a place where New Yorkers would want to spend their time, rather than focus on it as a tourist destination. To achieve this, the development team looked at what was missing and why and how they redeveloped the area to be more open and accessible to New Yorkers. He talks about the changes that were made and how these changes have made the area an attractive destination for locals to visit.
Keith explains the specifics of how to do a needs assessment for the Rockefeller Center, including assessing the local community. They wanted to create an authentic New York experience on the campus, so they didn't rely on the competitive set. The goal was to create different levels of food and beverage, including bakeries, breweries, cafes, and sit down seating that would give people working at Rockefeller Center the ability to stay in the area to socialize and make reservations at popular places, but also that it would attract a wide demographic. In the end, Keith hopes that the changes will give people the time and energy back to spend more than one day in the area.
The Friends of Chef Mission and Vision
The goal of the FOC team is to create an environment that is welcoming to all kinds of people from different parts of the city. The team also plans out different day periods to maximize the restaurants' potential and manage flow periods. Keith explains why the balance between destination restaurants and quick lunch spots is important. He emphasized that it's important to bring in businesses that understand throughput and have efficient POS and under periods. Once customer needs and establishment needs have been assessed, the next step is working with the team and their engineers and leasing people to ideate and figure out how to make their plans a reality.
Viable Financial Planning for Restaurants
Keith talks about the process of developing a space for a restaurant. The first step is to conduct an assessment and determine which types of restaurants would be a good fit for the space. The next phase is financial underwriting, which involves understanding the costs from both the developers and operators point of view of pre-opening and building the space, as well as developing a critical path to open the restaurant.
Keith talks about the importance of having a partner mentality when working with landlords in the restaurant industry. Keith explains that a good deal cannot be done with bad people, and vice versa, and that the landlord and operator need to have a solid relationship. He adds that the two parties need to come up with a plan that works for both, and that the developer needs to have a vision that will make the property worth more. Keith then explains that when developing a financial plan, the team identifies the type of restaurant that will work in the specific location to achieve buy-in from all parties involved. Finally, he mentions the need for sign off from the executive committee of the company.
Key Factors when Designing a Restaurant
Keith explains that when designing a restaurant, there are a few key considerations: the developer and superintendents should have a thorough knowledge of the building, engineers who can ensure all electrical and plumbing needs are professionally installed; a kitchen designer to monitor the essential health and safety needs of a kitchen are met, a health and safety official, a designer to work with Keith’s team and the operator, and finally, the developer to sign off on designs. This is all before the final fixtures, furnishings. He explains why the menu should be an early part of the kitchen design to meet specific culinary requirements and that, as such, the chef often plays a key role in the kitchen design.
The Development of FOC
Keith shares how his firm started. Keith gained experience opening and running high end restaurants in New York City. He was approached by a hotelier who needed help getting their food and beverage program set up. Initially, he worked on it alone, but soon realized he needed a team to be able to execute and grow the business. He now has a partner who has extensive experience in the hospitality industry at a high level.
Keith assembled a team of 15 highly skilled and experienced people in the hospitality industry. Through his team, Keith has been able to work on projects of varying levels of complexity, ranging from setting up food and beverage for stadiums to small restaurants. He has also partnered with established restaurant groups to learn more about the current market and labor practices. Keith also mentions a close friend, chef and restaurant owner who he often consults with for practical and helpful advice and knowledge on the running of a kitchen.
Keith explains a key factor to the success of his business is building relationships with the people in the hospitality, real estate, and other communities to find the projects they think will be the most motivational for his team. They seek out projects that everyone is excited about and are proud to work on. Keith believes that their team has figured out the best way to build relationships and communities in order to come up with great projects. They have been able to join boards and reinvest in the people they care about as a result of their success.
Timestamps:
05:51 Needs Assessment for Rockefeller Center Food and Beverage Options
10:04 Balancing Different Restaurant Use Cases in Rock Center
12:59 Developing a Restaurant Space
14:13 The Importance of Partnership Between Landlord and Operator
19:43 Skill Sets Required for Restaurant Design and Build
22:40 Conversation on Restaurant Design and Menu Planning
25:07 Founding His Firm and Building Teams for High-End Restaurants
Links:
Website: www.friendofchef.com
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Oscar Trimboli is the author of How to Listen and the host of the podcast Deep Listening. He talks about the importance of listening in the context of an initial discussion with a client, and highlights the importance of being present and mindful in the conversation, and to focus on understanding the other person's perspective. Oscar stresses the need to be aware of underlying emotions, and to be patient and respectful during the conversation. He concludes that having an open dialogue and listening to the other person's point of view is paramount to building a strong relationship and achieving successful outcomes.
How to Improve Client Projects
Oscar talks about the importance of listening during the context call with a client on their project. He emphasizes that listening should not be limited to face-to-face conversation but should include pre- and post- conversation activities as well. As an example, he mentioned his own pre-interview question to the client about the audience in attendance. Oscar suggests three questions to ask prior to entering the room. By posing these questions, you can gain a better understanding of the client's needs and desires and be better equipped to lead the conversation. Oscar explains how to best approach a context conversation for a potential project by asking these three questions, which should include the characteristics of a great listener: curiosity, flexibility and openness.
In email introductions, Oscar explains how to add three bullet points to an email introducing the project, which should include mentioning three common issues the project may have, and how to refer to these issues to position yourself as knowledgeable while also gaining information. These questions can also position you as a problem solver and not just as a gaining a client for your business.
The Importance of Listening to what Is not Said
In order to be a great listener, one must understand the science and art of conversation. Oscar talks about the importance of listening and the gap between thinking speed and speaking speed. Oscar suggests that we should be conscious of what is not being said in a conversation and offers some ways to self-assess. An effective listener should focus on both what is being said and what is not being said. A speaker typically speaks at 125-150 words per minute, but can think in a range of 900-1600 words per minute whereas you can listen up to 400 words per minute. Paying attention to what the speaker hasn’t said can help create a more meaningful conversation and create a more positive experience for the client. As a result, referrals should increase as clients feel heard and valued.
What to Avoid When Mirroring Clients
Oscar talks about the best way to ask questions when trying to understand a project from a client's perspective and the importance of mirroring the client's specific language and vocabulary during a meeting. He suggests that the consultant should be careful and cautious when using language related to the future, as the client may not be able to believe in such a distant vision. He also suggests calibrating the language to the client's time horizon and paying attention to the type of language the client is using. For example, are they speaking in stories or statistics? Are they big picture or linear? The consultant should be matching the client's level of abstraction in order to have a successful conversation.
Oscar highlights the importance of using mental models to recognize code words, and listening to different perspectives. He expands on the advisor’s role, giving an example with a client he worked with in the pharmaceutical industry to demonstrate gaps in listening and understanding, which degraded performance.
How to Improve Listening and Comprehension in a Meeting
To improve listening, Oscar introduces the 70/70s squared approach, where roughly 70% of the way through a meeting, a person can ask a question to understand what has been heard. He offered a few variations of this question, like asking to summarize the last 30 minutes or asking what questions the CEO would ask if they were in the room. Ultimately, these questions help people to step back and rethink their approach, considering the perspectives of people in authority or in other areas of the business.
Following Up after the Meeting
Oscar stresses the importance of being mindful of how one takes notes during a meeting and the purpose behind it. He suggests that it may be beneficial to record the conversation and to state your actions clearly. After the meeting, it is important to generate artifacts such as what happened in the conversation and supplemental materials. Within 24 hours, it is beneficial to ask the client if anything has popped up since the conversation or if anything was not covered during the meeting.
To follow up after a meeting, Will suggests sending a recap email as a way to show that the listener was paying attention and to provide a summary of the discussion. Oscar adds that, if the listener has paid attention to the other person's communication preferences, they could send a video or voice memo as an additional way to demonstrate understanding and increase the shareability of the summarised information and progress the complex ideas faster in the organisation. He talks about the benefits of thinking about how you communicate and not just what you communicate and talks about methods used in his own consulting practice. Finally, Oscar offers three valuable tips to improve listening and communication skills.
Timestamps:
03:51 Exploring the Benefits of Pre-Meeting Questions for Effective Listening
09:01 Frictionless Scheduling: Making it Easier for Clients to Say Yes
09:52 Adopting a New Email Response Protocol
10:54 Understanding the Neuroscience of Conversation
14:41 Listening to What Is Not Said
20:23 Mirroring Client Language
25:09 Listening and Mental Models
25:36 Exploring Unheard Perspectives
36:40 After the Meeting Actions and Artifacts
Links:
Online Quiz: ListeningQuiz.com
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Will Bachman and John Horn talk about competitors and how they should be taken into account when formulating a strategy. John points out that lowering the price is an easy response to a new product or market entry, which can prevent success. He suggests that understanding the competitor's mindset is a key element to predicting their next move and positioning oneself for success. He also emphasizes the importance of being aware of the competitors' strategies, as it can influence the success of any new idea or product.
A Framework to Understand the Competitor’s Mindset
John states that companies should pay attention to both their customers and their competitors depending on the type of market they are in. For established markets, such as toilet paper, companies should focus on competitors and their pricing, product innovation, and market entry challenges. For newer markets, like AI, companies should focus on customers since customers may not know what they want and the market is open and wide. John believes that it is important to have different departments that focus on each aspect since customer and competitor focuses require different approaches. However, it is essential for companies to be aware of both their customers and their competitors in order to remain competitive in the market.
John talks about the importance of competition intelligence in developing an organization's strategy. He explains the Blue Ocean analogy-- the idea of swimming in uncharted waters to find success. He emphasizes that one must understand why the competition is not in the blue ocean before considering it as a viable option. He then outlines his four-step framework for gathering competition intelligence: reviewing public communication and actions; assessing competitor assets and resources; considering the human factor; and predicting, observing, and adjusting. This framework can help organizations build a picture of their competitors' mindset and ultimately develop a successful strategy.
How to Gather Competitive Intelligence
John offers advice to a growing company that wants to build a competitive intelligence function. John recommends gathering information from companies that scrape and gather information from publicly available sources such as SEC filings, the company's website, and social media. He notes that the most valuable information comes from within the organization, and suggests running WarGames, which are business simulations that involve setting up players, choices, and a timeframe to unlock competitive insight. John gives a few examples of questions that should be asked. Companies can use a CRM system to gain better insight into their competitors. The idea is to start with one question, such as Who do you talk about? and then gradually add more questions to the CRM form to prime sales agents to ask about competitors. This will help the company track which competitors are discussed in different geographies and customer types, and what pricing, product portfolio, partners, etc. are discussed. This data can then be used to identify which sales agents have reported the most about a particular competitor, and to ask them for more information. This will make it easier for the company to collect information that may already be in the heads of their staff.
Collecting Data to Understand Competitors
John talks about the value of collecting data to understand competitors. He suggests that data should not be collected by marketing or finance unless they are strategically focused and deliberate, as it may not receive enough focus. He adds that asking questions up and down the supply chain can be a great way to collect information, but there can be challenges in how it is implemented. John explains that competitive insight functions are cost centers, meaning that they don't directly drive revenue, so it can be difficult to get buy-in from the senior level team. He explains the best way to ensure competitive intelligence is properly implemented. When using competitive insight to make strategic decisions within an organization, it is important to start small and focus on one or two competitors at a time. It is also important to identify which teams within the organization need what type of information. John also stresses the value in using anecdotes and using story over data to gain support from senior leaders.
Investing Competitive Intelligence
John highlights the value of focusing on the competitor’s USP to gain valuable insight.
He explains how to convince senior leaders of the need for a competitive insight function. He suggests using stories to demonstrate the value of CI and its ability to help prevent costly mistakes. He also suggests that if senior leaders are convinced of the importance of CI and can see its value, they will continue to invest in it. He gives an example of a company where the CI function had such strong support from senior leadership that anyone making a strategic presentation to the CEO had to first consult with the CI group or leave the room. His conclusion is that, if senior leaders can be convinced of the value of CI, they will continue to invest in it.
Finally, he provided links to his own firm, Gateway Insights, and the Washington University Olin Business School website for anyone who wanted to contact him and learn more about competitive intelligence.
Timestamps:
03:10 Balancing Attention Between Customers and Competitors
08:15 Understanding the Competition for Strategic Planning
09:05 Investigating the decision makers
13:25 Building a Competitive Intelligence Function for Growing Companies
15:30 Competitive intelligence type of dashboard function
21:50 Collecting Data and Voice of the Customer Insights
26:57 Exploring the Role of Competitive Intelligence in Decision Making
27:46 Competitive insight functions as cost centers
29:18 Defining which team needs what information
31:14 Using anecdotes to inspire action from leaders
Links:
Website: www.gatewayinsights.com
CONTACT INFO:
Email: johnhorn@wustl.edu
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
David A. Fields talks about the purpose of outreach emails and how to send them effectively. The purpose of outreach is not to sell, but rather to create conversations. He talks about both ‘cold’ outreach, which is to contacts who you don’t know and 'cool' outreach, which is sending emails to people who the sender knows, but who have not been in contact in a few years. He also covers developing a tracking system, and follow-up calls.Regardless of the type of outreach, the goal is not to sell, but rather to create conversations that may lead to relationships and opportunities.
David talks about the importance of creating meaningful conversations instead of transactional ones when reaching out to potential clients. He states that jumping right into “Do you need my help on anything?” or selling, can ruin a relationship. He suggests using the 111 Email approach which has been found to be extraordinarily effective. Instead of focusing on oneself, the email should be about the recipient and what they are interested in. This approach can get a response rate of 40-50%, which is a very high rate for cool outreach. David explains that the email should include only one line and one focus question. He gives an example of a 111 Email and emphasizes that the focus should always be on the other person and not on trying to sell something.
David emphasizes that even if the person is not a client, it is still beneficial to talk with them as it increases the chances of business finding their firm, and that the more conversations one is a part of, the more likely it is that business will find their firm.
Emails Questions that Engage Clients
David shares an effective approach to continuing the conversation. One tip is to give a link to schedule a time for a call, and decide that it would be better to simply ask the other person if they would like to catch up.
When asking someone for a quick catch up, conversation, or call, he suggests to not be too business-like and to keep it simple by starting with Are you up for a quick catch up?
Follow up questions should include: “I'm gonna have my assistant scheduled something,” “What about these times?” “How's next week?” etc., to make it easier for the other person to respond. He also suggests not asking too many questions on the email, but to keep it simple with the goal of getting the other person on the phone or into a Zoom call. David discusses the importance of using live conversations, as opposed to email or other messaging apps, in order to create better relationships with clients. He provides examples of how to transition from email conversations to live ones, such as asking if the client is open for a quick conversation and catch up. David also advises against using humor in emails, as it can often be misinterpreted and can put one at risk. The goal of the email is to get the client on a call.
How to Contact People for Networking Purposes
David talks about the best ways to contact people for networking purposes, including categories of emails people should use, such as job related, comments on LinkedIn, and questions that ask if an email address is still valid. He also talks about the frequency of emails and suggests sending them once every two to three months, and tracking the responses in a CRM system. He also offers tips on how to approach a person on LinkedIn who seems to be an interesting contact, but with whom you have no prior connection and suggests a few ways to reach out in a cold contact situation such as explaining why you are reaching out and how the contact could be beneficial to the client. Additionally, David recommends researching the person to get an understanding of their background and interests, and how the contact could be mutually beneficial. He suggests making the message personal and concise, and also including a call to action. To connect with potential clients, David suggests using personalized connections as a way to make a connection, such as referencing an affiliation they might have. He gives examples of successful email outreach and follow up messaging and timeline.
Cold Leads in the Consulting Industry
David talks about sales tactics for cold leads in the consulting industry. David recommends the Ben Franklin approach, which is asking for help with a project such as being interviewed for a podcast instead of trying to sell directly. He also suggests an aggressive reframe, where the consultant takes an opposing stance from the norm and then offers a solution. He offers examples to demonstrate how this works. He talks about how emails help improve lead generation. When asked if a direct approach like saying “here’s what we do” is helpful, David responds that he has not seen it work and identifies the type of email content and approaches that are ineffective and questions that fail to engage. He also talks about the importance of crafting a personalized subject line. David explains that his team focuses on having a clear, one-topic message and keeping it personal. He also mentions that the subject line should be short and make it clear that the message is personal. With short, question emails, it may not be effective due to the high volume of spam emails using this format. David closes by sharing the one line follow up message and explaining why the “turn” works.
Timestamps
04:24 How to Reach Out Without Being Transactional
06:51 Making Sense of 111 Emails
12:40 Building Relationships and Generating Business
15:00 Exploring Conversation Strategies for Professional Networking
16:56 Consistency and Influence in Networking
21:45 Maintaining Relationships Through Email and Other Messaging Apps
30:04 Network Core Frequency and the 2099 List
32:00 Creating a Personalized Connection Point for Cold Outreach
43:17 Effective Outreach Strategies
51:25 How to Use the "Turn" Technique for Professional Networking
Links:
Website: https://www.davidafields.com/
CONTACT INFO:
LinkedIn: https://www.linkedin.com/in/davidafields/
Twitter: https://twitter.com/_davidafields?lang=en
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Will Bachman and Ashlee Horn spoke about her practice, which focuses on coaching new sales leaders. Ashlee outlines the problem she is trying to solve that 50% of new sales leaders fail within the first year. She speaks about the lifecycle of a sales manager and why sales leaders are so important to an organization. She explains that she focuses on those who are new to frontline sales management or director roles. She works with star performers who have made the leap into leadership, and star managers who are now trying to manage teams of teams. Ashlee provides coaching for these roles to help them drive sustained behavior change.
Training Sales Leaders
Ashlee outlines her approach to promoting new sales leaders. She has identified six key areas of focus: building relationships, holding people accountable, multiplying themselves, creating a culture of execution, developing their team, and driving strategic planning. She stresses the importance of building relationships based on trust and value, as well as the need to be able to articulate what makes them successful. Additionally, she emphasizes the need for leaders to be able to hold people accountable and have candid conversations. Lastly, she highlights the importance of creating a culture of execution, developing their team, and driving strategic planning. All of these areas are essential for successful leadership. Ashlee recommends that salespeople prioritize the highest revenue generating activities, focus on effective communication, simplify complex topics, and use data-driven decision making. She has experience working with technology sales and service sales, specifically SAS sales.
Time Management for Sales Managers
For frontline salespeople, she recommends they focus on facetime with clients, build pipeline, and take care of customer service activities. For frontline sales managers, she suggests they prioritize their time and get six to ten people motivated to make changes to their daily habits that will lead to success. A good time allocation for a frontline sales manager with eight reps at a tech company may include focusing on individual team member goals, mentoring and coaching, analyzing data to make decisions, creating and executing sales plans, and managing customer relationships.
Ashlee talks about the importance of reverse engineering a sales manager's priorities. According to Ashlee, the majority of the manager's time should be spent on coaching activities that improve customer retention, as this will be the highest revenue generating activity. This includes one-on-one meetings with the team members, team meetings, and individualized programs. Additionally, Ashlee suggested that the manager should spend 70% of their time with the team, observing calls, preparing for calls, and reviewing deals. The remaining 20% should be spent on broader team activities such as setting the vision, having internal meetings, and working with their VP or director to understand their marching orders as a sales leader, and 10% should be spent on understanding clients.
Motivation Coaching for Sales Leaders
She talks about assessing the motivators of their team members in order to come up with the best solutions for them, including looking at examples of mindsets other than the mindset of the sales rep who was promoted. She suggests looking at the broad category of growth and fixed mindset. This involves understanding how people respond to challenges, failure, and success, as well as their attitude towards change and effort. This can help sales managers come up with a roadmap for understanding different categories of motivation and how to best approach each person.
Ashlee identifies different mindsets that salespeople may have and how to address them to develop an effective coaching strategy. The first mindset is the difference between a growth mindset and a fixed mindset, where the growth mindset individual believes they are in control of their own success and the fixed mindset individual believes external factors determine their success. The second mindset is the individual who is not money motivated and does not want to be competitive. To address this mindset, Ashlee recommends focusing on uncovering what motivates the individual. Ultimately, it is important to understand the mindset of the individual in order to help them be successful in sales, and how to overcome the reluctance to sell to people who don’t want to take the call or listen to the pitch.
Accountability in Sales Management
Ashlee talks about the concept of accountability in sales management. Ashlee points out that in order to hold team members accountable, managers should be explicit about expectations upfront and use data to ground conversations in facts and ensure objectivity, and that conversations should take place early and often. Moving on to teaching managers to scale their impact, Ashlee suggests that it begins with simplifying the complex and getting into habits that allow them to effectively and efficiently manage their teams.
Ashlee explains how sales managers can multiply their impact. Ashlee recommends that they take the tacit knowledge they have and document it into a simple, repeatable process, known as unconscious competence, that can be shared with the team. She also suggests managers prioritize their time and their messaging with the team to align with moving a key performance indicator (KPI). Additionally, Ashlee suggested that instead of spending a lot of time one-on-one, managers should offer batch coaching sessions with two or three reps who are newer or working on the same skill. She also explains what they should prioritize to be most effective, and how she helps sales managers with communication techniques.
Data-driven Decision Making
On data-driven decision making, Ashlee explains that it is important for leaders to be able to react to data and anticipate decisions for the business instead of responding emotionally. Ashlee then gives an example of a leader who noticed their team was not making many calls and assumed that improving that would help, when in fact the data showed that their conversion rate on cold calls was already high. She explains which metrics they should focus on and which ones should be avoided. Ashlee advises that the front end of the funnel is the easiest to track and that looking at the data can help leaders to identify more effective solutions.
How Sales Managers Navigate Their Roles
Ashlee talks about how new sales managers can navigate their roles. She stresses the importance of focusing on the quality of conversations, rather than just quantity. As a sales manager, it's important to judge conversations based on the organization's expectations, and setting clear objectives for the call, and if the client is clear on why they should take another meeting. For sales directors, the challenge is coaching through a layer and helping managers foster their individual style. Ashlee also offers advice for independent consultants on cold outreach, suggesting that they should research the customer and approach the call with a point of view. People enjoy being told about what they're excited about, and if the consultant is wrong, the customer will be happy to correct them.
Ashlee shares how to create a compelling message when trying to build a relationship with a Chief Strategy Officer. She suggests that the message be more detailed and have a point of view, rather than a generic one, as that could be seen as uninteresting and not differentiate the sender from others. Ashlee believes that having a point of view is bolder than a generic approach and that it is better to be wrong and have a point of view than not have one.
Timestamps:
03:51 Structured Program for Onboarding New Sales Leaders
06:58 Sales Leadership Prioritization and Time Allocation
09:06 Reverse Engineering Priorities for Sales Managers
11:54 Effective Sales Management Strategies
13:53 Strategies to Motivate Sales Teams
15:05 Different Mindsets in Sales Teams
21:13 Accountability and Scaling Impact for Sales Managers
26:24 Multiplying Impact and Prioritizing in Sales Management
28:24 Effective Communication in Sales Management
32:14 Engaging Participants and Performance-Based Conversations
Links:
Website: HornSalesCoaching.com
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Josh Leibowitz spent 13 years at McKinsey and was elected partner in New York. He then moved to Miami and grew the office there before joining Carnival, the largest leisure company in the world. He talks about the ideas behind Parenting MBA, a book that aims to help parents give their children the skills they need to be successful in life. Josh joined the cruise line Cunard as Chief Strategy Officer, and eventually became president of the luxury brand Seaborne. Post COVID, he was tasked with supporting the relaunch of the line, and made it his goal to ensure every employee was back to work. This spring, Josh left the company after bringing back 4,000 employees and launching a new expedition division. Josh explores misconceptions people have about the cruise industry, explaining that most people don't appreciate how special of a way it is to see the world, as it's 70% water. He added that Seaborne specialized in three different kinds of places: big cities, secondary cities, and remote expedition destinations like Antarctica and Greenland. During lockdown, as a father of three children, Josh had more time to reflect on how much time work took from family life. He reflected on how his experiences from work could be used in parenting and decided to write the book, Parenting MBA, which applies the principles of success in business to raising and preparing children for life as an adult. He stresses the fact that he is not a parenting expert and that the book merely puts forward points that he has found to be successful in his life.
An Inside Look at the Book, Parenting MBA
The book is divided into three sections: getting the vision right, managing the day-to-day, and long-term performance. The first lesson of the book is to act as a mentor to your children and show them unwavering support. Josh believes this can help you raise incredible human beings.
He provides a case study example from Harvard, in which a student suggested that rather than firing an employee who was underperforming, they should mentor them instead. Josh reflects on their own experience with mentors who overlooked mistakes he made, and how mentorship helps people develop and achieve goals.
Josh talks about what it takes to be a mentor. Josh explains that the first characteristic of being a mentor is having an unmatched belief in the mentee and what they can do. Even as an adult, it can be difficult to believe in oneself and thus having a mentor who has an unmatched belief in the mentee is special. The second characteristic is having close and meaningful interactions. Mentors often know more about the mentee than the mentee knows about themselves. Trust and honesty is a key component of the relationship, and the mentor should also be demanding, providing encouragement while also pointing out errors.
Management and Branding Techniques Applied to Parenting
Josh talks about the concept of applying management techniques to parenting, including: setting a vision, creating patterns, building trust and honesty, and helping children overcome barriers. One of the points, defining a brand, is the idea of linking marketing and branding to a child's self worth and understanding of what they are all about.
He focuses on the concept of helping people, and especially children, understand themselves and their brand better. The idea of a brand having two sides is presented: the intrinsic side, which is the brand values, and the extrinsic side, such as what the brand delivers or what skills the child has. He proposes three intrinsic values for consideration, starting with being a good person, then striving to reach one's full potential, and finally, finding one's voice. The idea is to encourage children to find their own brand values and to use them to become successful people. He suggests talking with children about their favorite brands and asking them what they think they stand for. He also discussed the balanced scorecard to manage the day-to-day challenges, which is used to evaluate the performance of a company, and suggested applying this to parenting by looking at the child's core skills, activities, relationships and good person attributes.
Being a Vacation SuperHero and a Lifelong Learner
Josh is curious about the concept of taking vacations seriously and conducted a global study with over 100,000 respondents and focus groups. He believes that being a vacation superhero is important and gave a TED talk on the topic. He shares a story where he was at a resort in Miami with his wife and family, in the pool with the kids but still distracted by work. The idea behind being a vacation superhero is to treat vacation time as seriously as one would treat work time, in order to gain the most out of the experience. Josh talks about the concept of the indispensable complex and how it can be used to better balance work and play in our lives, and the idea of focusing on taking time off and treating it as seriously as one would treat work because this is often when the best ideas break through.
Josh and Will discuss inspiring lifelong learning, suggesting that continuous learning is key to staying relevant. He encourages stimulating curiosity, engaging in self awareness, and being flexible and adaptable. Finally, he emphasizes the importance of lifelong learning with passion projects such as a TED talk and his book. He also reads a lot of both fiction and non-fiction to get ideas. He has recently been focusing on the intersection of human and artificial intelligence. Finally, he suggests taking long-term time off to increase learning capacity.
Timestamps
04:13 Josh Leibowitz on His New Book, Parenting MBA
11:05 Mentorship and Mentor Characteristics
12:59 Parenting Strategies for Raising Successful Children
16:46 Branding, Balanced Scorecards, and Parenting
21:33 Raising Balanced and Compassionate Children
24:38 The Benefits of Being a Vacation Superhero
33:46 Lifelong Learning and Choosing Books to Read
Links:
Website: https://www.parentingmba.com/
CONTACT INFO:
LinkedIn: https://www.linkedin.com/in/leibowitzjosh/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Mahan Tavakoli is a consultant, leadership coach, and host of the podcast Partnering Leadership. He talks about his podcast, the incredible guests he has had on his show, and his time at the Dale Carnegie Leadership Institute. Mahan has been an avid podcast listener for over a decade, and he decided to launch his own podcast in 2020. His podcast focuses on the journey of CEOs and leaders in the Greater Washington DC region. He has interviewed some impressive names and his show is now in the top 1% of podcasts in the leadership category. He credits the pandemic for allowing him to make his podcast more antifragile, as he is now able to reach a much wider audience.
Promoting a Podcast and Crafting a Compelling Story
As the host of the podcast Partnering Leadership, he has conversations with CEOs from the Greater Washington, DC DMV region on Tuesdays, and leadership book authors on Thursdays. He has interviewed authors such as Seth Godin, Ken Blanchard, John Kotter, Stephen Covey, and Ciaran. He offers tips on reaching out to authors, including using the momentum of the podcast being in the top 1% of podcasts, and often the agents for the authors who want to promote their book reach out to help promote the book. CEOs he interviews are often people he knows well enough to invite on to the show. He shares what he has learned from the CEOs he has interviewed and notes that they have a tremendous sense of humility and confidence, as well as a growth mindset, and are constantly looking to learn.
Mahan talks about the importance of storytelling for CEOs. He believes the key to a great story is to focus on one moment in time and draw inspiration from Joseph Campbell's Hero's Journey. He suggests that the leader be the guide of the story, not the hero. He also sends stories of successful storytelling to CEOs, so they can learn to do the same. This will help them communicate their story both internally and externally, which can strengthen the organization.
Podcast Promotion, Content Development, and Distribution
Mahan and Will discuss strategies for promoting a podcast. Mahan offers valuable tips, including creating micro content, posting on other places, and getting guests to send out notes. He also suggested posting on LinkedIn as a way to raise awareness. He suggests creating multiple pieces of content from each episode to promote over a six month period. His team focuses primarily on promoting on LinkedIn, but also shares content on Twitter, Facebook, and Instagram.
Mahan discusses how he has focused his content development on LinkedIn to get the most traction. He also explains how videos from his interviews go up on YouTube, even though less than 1% of his audience actually watch them. He shares a story of when he got a great client, where he believes they discovered him from his website, podcast, and personal relationships and networking. Overall, he has seen great benefits from his podcast, including building relationships and learning new things, as well as landing new clients. He explains how his team repurposes content to post on social media over a six month period, and how this is important to reach people who like to consume media in a variety of different ways.
From Salesperson to Chief Strategy Officer at Dale Carnegie
Mahan shares his experience of working for Dale Carnegie, emphasizing the importance of sincerity and genuineness when building relationships with others. Mahan has found that his podcast has helped build his reputation and credibility throughout the business community and has received many referrals who know him as an authority in business leadership. He is currently working with CEOs and senior leadership teams. His practice also involves individual coaching sessions and consulting services. Mahan started as a salesperson but eventually moved up to helping start franchises internationally as his board of directors sought to expand their operations. Despite the busy travel schedule, Mahan was able to successfully contribute to the CEO’s strategic vision and was eventually promoted to Chief Strategy Officer. Through this position, he has been able to lead the organization in constant reinvention and adaptation.
Success As a Business Executive
As a business executive Mahan was constantly on the road, but he realized that his values of family could not be seen in his lifestyle. As a result, he decided to stay in DC, and he started a youth-serving organization to help underserved youth gain access to college and internships. Mahan believes that it is important for the right people to take the right kids to work, so that they can see the opportunities available to them. He has dedicated his life to providing these opportunities to young people and inspiring them to look at the world differently.
He has also been active in the regional community, serving on the board of directors of the Greater Washington Board of Trade and the executive committee of Leadership Greater Washington. His regional focus allows him to take advantage of the relationships he has built in the area, while also allowing him to spend more time with his family. Mahan stresses the importance of developing relationships and differentiating oneself in the business world. He highlights the importance of building trust, which can be accomplished by showing genuine interest in the other person, and having genuine conversations. He also discusses the importance of brand names and noted that he has been warmly received in various countries because of his affiliation with Carnegie. Finally, he stresses the importance of focusing on differentiating oneself rather than trying to be better than others.
Timestamps
01:24 Mahan Tavakoli's Journey to Becoming a Top 1% Podcast Host
03:16 Insights from CEOs and Leadership Book Authors
10:05 Analysis of CEO Storytelling: Examining What Makes a Great Story Resonate
16:32 Exploring Strategies for Promoting Content on Social Media
18:17 Exploring the Benefits of Content Development for LinkedIn and Other Platforms
24:52 Mahan Tavakoli's Journey from Dale Carnegie Training to Chief Strategy Officer
29:06 Regional Focus in Consulting and Coaching
33:05 Leveraging Regional Relationships and Trust Building with Dale Carnegie
39:07 Building a Leadership Brand
41:26 Appreciating Hard Work and Giving Back
Links:
Website: https://mahantavakoli.com/
Podcast: https://www.partneringleadership.com/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
John Driscoll is the President of Walgreens Boots Alliance and the co-host of the second largest healthcare podcast on YouTube, CareTalk. In this episode, host Will Bachman welcomed John to the show. John has extensive experience in the healthcare industry, having played a leading role in creating successful companies like MedCo, Surescripts, Oxford Health Plans, and Care Centrix. John discusses topics such as monkeypox, mask mandates, baby formula shortages, Silicon Valley Bank's failure, and healthcare related topics. He also shares his opinions on a variety of healthcare issues.
The Future of Pharmacies
John started his career in health care after being influenced by his mother, a nurse. After college, he developed housing programs for homeless and mentally ill people. He then became a management consultant, before moving to Asheville Health Plan. He has worked in multiple parts of the health industry spectrum, gaining experience in Medicare and Medicaid.
He has found his career to be full of big and challenging problems, but is motivated to improve the world and create successful businesses. His main initiatives involve investing in Village MD, Summit, and Espadin Shield Specialty Pharmacy to show how an integrated pharmacy and clinical model can improve outcomes at lower cost. Walgreens is also working with health plans and has 9000 stores and 90,000 clinicians to provide access and convenience, trust, and traffic. Their goal is to become essential in healthcare by leveraging their expertise in retail and pharmacy services.
He discusses how pharmacies can become better partners to health plans by taking advantage of their advantages in brand marketing, trust, convenience, and patient specificity.
He shares a specific example of how a large regional health plan achieved a return rate of three times greater on colorectal screenings than before they partnered with the pharmacy. The pharmacy was also able to increase the rate of colorectal screenings up to 51% in underserved areas due to the support of non-clinical personnel in their stores. Additionally, the pharmacy is partnering with health plans to reduce admissions to nursing homes by 20% through nurse visits, follow-ups, and care navigation. The system leads to better patient and contact information. Overall, the pharmacy is providing an invaluable service in helping health plans lower costs while improving outcomes. He explains how his company invests in bespoke automation machines to allow pharmacists to spend more face-to-face time with patients, and how pharmacists could be more involved and take on more responsibility in the treatment of patients and how this would expand access to more care in an overburdened health system.
Pharmaceutical Healthcare, the Pandemic, and Value-based Care
John reflects on health regulations and restrictions and also the risk taking and flexibility that came into place under the COVID pandemic. He confirms how important it is to prepare for pandemics in terms of vaccine supplies, communication, and pre-deploying and integrating national and state employees in operations. He also notes the critical role of pharmacies in crisis situations. He tackles the issue of employee burnout and the current pharmacist shortage and the steps Walgreens is taking to solve the problem across states.
On value-based care, he explains how it is the future, especially in the U.S. where healthcare is more expensive than any country in the world, how this is unacceptable, and how this should be approached to address health issues earlier to avoid hospitalization.
The CareTalk Podcast
John talks about the inspiration and intention of his podcast, what the content is and what has surprised him throughout the conversations. Guests that have been on his podcast include Andy Slavitt, Zeke Emanuel, Tony Cosgrove, and Amy Abernathy. When asked what he learned from his guests, John shares that he was surprised to find out that even though healthcare is very complicated and people are in silos, there is still room for novel and provocative opinions that can be explained. He also found out that everybody knows that drug costs are too high, but there are practical ways to bring them down without destroying the biotechnology industry that is creating new drugs to cure aging and extend lifespans. The podcast explores various issues surrounding health care and how to best address them. Toby Cosgrove from the Cleveland Clinic brought up the importance of creating heart-centered care in a large inner city hospital. It was noted that there are a lot of people working on solutions to healthcare problems, such as telehealth and AI to solve labor shortages. He also touches on the potential for AI and Chat GPT to be used in health care. While it is still early days, he mentions that there have been some companies experimenting with using these tools.
Health Care and AI
John talks about the impact of artificial intelligence on healthcare. He believes that AI has the potential to reduce administrative costs and waste in healthcare by simplifying billing and reconciliation processes. He also believes that AI can help in drug discovery, clinical pathways, and personalized care. He is looking forward to having guests on CareTalk with whom he can discuss the economy, healthcare costs, and the pandemic's effect on inflation.
He wants to discuss the current chaotic economic landscape that is impacting healthcare, and the labor industry in particular. He mentions the growth of traveling nurses who are paid by private equity firms and how hospitals have had the worst six months financially in US history.
He sources his information from HealthTech Nerds, the Washington Post, New York Times, LA Times, Wall Street Journal, Health Affairs, and Jim and Science, the MIT Tech Review, Science and Cell, all as good sources of information. He suggests Kaiser Family Foundation and Kaiser Health News as exceptional sources, as well as government sources such as CMS for basic data.
Timestamps
03:20 Walgreens Boots Alliance's Healthcare Initiatives
06:35 Partnering with Health Plans to Improve Outcomes and Lower Costs
09:52 Improving Patient Care Through Pharmacist Interaction
10:48 Automated Fulfillment Centers and Patient Care at Walgreens
28:45 Healthcare Innovations
31:54 Exploring Solutions to Healthcare Challenges
32:15 The Impact of Artificial Intelligence on Healthcare
36:49 Exploring the Impact of the Changing Labor Industry on Healthcare
Links:
https://www.caretalkpodcast.com/
https://www.walgreens.com/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
On May 12, 2023, Chad Oakley, CEO of Charles Aris, a top retained search firm in the US for placing former and current management consultants, spoke to members of Umbrex about the current state of the job market for consultants. Chad gave an introduction to Charles Aris and spoke about their strategy practice. He encouraged attendees to ask questions to make the conversation interactive. The conversation focused on the job market for consultants, including the current state of the market, the opportunities available, and the strategies consultants should use to navigate the market. Chad offered his perspective on the job market and provided insights for consultants looking for positions.
Charles Aris, Executive Search Firm
Charles Aris is a classic executive search firm that has been in business for 54 years and has 90 team members located across 15 states. They specialize in bespoke searches and their five main areas of focus are strategy, corporate development, finance and accounting, engineering, operations and supply chain, and sales and marketing. Their client base is split between private equity firms and non-private equity organizations. They also produce monthly newsletters about their searches and offer reports and compensation studies. Charles Aris has the largest strategy recruiting practice in the United States and their practice is headed by a former consultant from Deloitte Consulting and Wharton MBA. They specialize in placing current and former strategy consultants from firms such as Bain, BCG and McKinsey in various positions from pre-MBA level to partner level.
Increased Demand for Management Consultants
Since May 2022, the United States experienced unprecedented economic growth during the past year and unprecedented numbers of employees leaving current positions which led to a shortage of staff in many firms. As a recruiting firm, Charles Aris was overwhelmed with search requests and had to implement a 40-day delay on all new searches for the first time in its 54-year history. A pullback started in December, and interest rates were raised to tame inflation, even if that meant driving the economy into a recession. We are now in the middle of a transition from a 100% candidate-driven market to a 75% company-driven market. Despite this, mixed messages are coming from the market causing confusion; major corporations such as Amazon are announcing sizable layoffs, while the monthly labor reports are robust and unemployment rates have fallen. Chad explains what is behind the conflicting reports between the numbers. He goes on to explain how this has impacted the consulting sector, how numbers of hires have fallen dramatically compared to the previous year. He mentions how major consulting firms are rolling out their playbook, how they are managing people out, and promotions are slowing, taking on fewer hires, and he identifies a common lie amongst top-tier consulting firms when it comes to promotion, and what many firms are offering in terms of “transition payments” to accommodate moving people out of the firm.
Areas of Demand for Management Consultants
However, he also talks about what firms are looking for in terms of remote or on-location hires. He talks about the areas of consulting where there is an increase in demand for transformation skill sets. He explains that companies want to reduce their cost structure and are in need of transformation and cost containment experts. Companies have built up investments during the hay days and now need help unwinding them. Companies need assistance in cost containment as they look to their future and realize they likely won't hit their revenue targets. These transformation and cost containment services can help them reduce their cost structure, allowing them to be successful in the coming years. Private equity firms are facing a challenging time right now, as the cost of capital has increased and deal flow has slowed. To make up for this, private equity firms are investing in their existing portfolio companies to make sure they reach their full potential. There is a spike in demand for individuals who specialize in areas such as transformation and cost cutting, finance and accounting, talent professionals, and operations and supply chain. CFOs are the hardest positions for companies to fill due to a demand and supply imbalance. He recommends that independent consultants should specialize in a few areas to ensure they are able to take advantage of the current market demand with Finance as the highest area of demand.
The Demand for Specialists over Generalists
In the current economic downturn, companies are less likely to take risks on hiring generalists and more likely to hire specialists for projects. Companies want to make sure that their money is being spent in a way that will yield a strong return. Therefore, it is important for people to identify their true specialties and market themselves aggressively as a specialist in those areas. This can be difficult, as it is tempting to present oneself as a generalist in order to secure more work. However, companies in an economic downturn are more likely to look for specialists they can trust to get the job done. Chad offers key tips on how to market oneself in the current down market.
Chad shares that demand is steady across all industries, with insurance companies being particularly consistent in their hiring practices; general financial services, life sciences, and healthcare also show steady demand. Consumer-facing and retail jobs, however, have seen less demand. To illustrate the extent of the downturn, he states that in the first four months of this year, they have enacted 30% fewer searches and that one should prepare for the ongoing downturn by cranking up their marketing efforts and skills.
Finally, he also discusses some of the challenges consultants may face, such as the importance of having a strong online presence and demonstrating value to potential clients.
The International and Future Market for Consulting Services
Charles Aris represents the U.S. but has 50 partners in other countries. He shares feedback from their annual meeting in Columbia this year that a recession in the U.S. affects the rest of the international community and that a recession is inevitable. To ride the wave, Chad recommends taking proactive steps to deal with an economic downturn. He shares how they have seen a reduction in compensation rises without a decrease in current compensation. He shares how major consulting firms such as McKinsey are managing to maintain their current fees with their clients. In terms of the Data Science market, this is a no-lose career choice moving forward, but in the ESG sustainable market, a lot of companies consider this a luxury and it’s not at the core of their business, Chad forecasts that companies will downplay the focus in this area.
He confirms that corporations will reach out to independent consulting firms especially when they are experts in the fields of Finance, AI, Data Science, and Big Data, in addition to healthcare companies and hospital systems that may need to hire a boutique firm.
How Independent Consultants Get Noticed by Recruiting Firms
Chad explains that, despite how extremely talented and experienced his clients may be, they can’t always place top talent with a company. The candidate’s skills must be specific in alignment with the company’s demands. When reaching out to an executive search firm, focus on the information on the resume because the resume will be uploaded to the internal database which will be matched with queries. Also, Identify what you are looking for in the initial email, but Chad also recommends that applicants should continue to network. When asked about working for private equity firm’s portfolio companies, Chad explains that it’s advisable to approach the professionals in the private equity firm to gain a better understanding on what the firm wants to accomplish and who to contact. He offers advice on email subject headings, the type of quantifiable information that will get you noticed, and when to follow up. He also explains how consultants who have “been on the beach” for an extended “vacation” should approach firms.
Timestamps:
05:42: Current State of the Job Market
19:44: The demand for independent consultants vs. demand for consulting firms
24:02 Consulting Demand in Times of Uncertainty: Transformation and Cost Containment Skill Sets
32:31 Quantifying Expertise to Secure Consulting Gigs and Hiring Former Consultants for Full-Time Jobs
34:56 Impact of Recession on Recruiting and Consulting Services
37:51 Exploring the Impact of the US Economy on Business Development and Marketing Strategies
35:18 Bracing for a Tough Year: Insights from International Search Firms
39:36 Recession Strategies and Fee Levels in the Consulting Industry
54:09 Leveraging Independent Consulting Experience for Full-Time Roles
Links:
Website: https://charlesaris.com/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Evan Polin, founder and operator of Polin Performance Group, talks about how his firm helps professionals in the service industry build their businesses and grow their practice. He helps them get in front of their ideal clients, make sure they're not giving away their expertise for free, and qualify opportunities more quickly. He also helps them take a strategic approach to problem solving and use their expertise to close more business with the kind of clients they'd like to work with.
Evan provides professional services firms with sales and business development advice. He starts with a diagnostic, using the Harver behavioral-based assessment tool. This gives him a 35-page report on the client's strengths and weaknesses in sales and business development. He asks about the client's goals and what kind of practice they want to build, how much revenue they'd like to develop, and what their mix of clients should be. He then puts together a customized business development plan to help the client reach their goals.
Strategy to Leverage Your Contacts
Evan helps individuals and businesses reach their goals by breaking down the process scientifically. He typically starts with helping them understand how to get in front of the right opportunities. He also helps with issues such as people feeling like they are being used for free consulting, and those not getting as many referrals as they think they should be. He helps them leverage the relationships they have already developed, and figure out the most effective way to use them to get introduced to the right people and focus on the right opportunities.
To get in front of opportunities, he advises clients to first sit down and think about what their ideal client looks like and whom they need to target within an organization, and what the engagement looks like. Furthermore, he suggests leveraging their relationships and current context to start by downloading their LinkedIn connections into a CSV file. This file can then be separated into three categories - A list, B list, and C list. A list contacts are those who are more likely to get back to the consultant within a week. The B list is composed of contacts who may take a bit longer to respond, while the C list includes those who may not respond at all.
Cold Outreach Tips and Using Sales Navigator
Evan talks about reaching out through telephone calls and emails. He explains how to be successful with cold outreach, and suggests that it is better than making a cold call but cautions not to set expectations too high as the response rate would still be low. Common best practices include sending a message that introduces the person and their role, and mentioning any connections they might have in common. Evan explains how to use Sales Navigator to manage the outreach list of contacts.
Evan suggests sending messages to carefully selected prospects, and paying attention to who is looking at your profile. He also suggested filtering out those with less than 500 connections, as they are likely not active on the platform. Polin highlights the importance of understanding the psychology of sales and marketing, and how it can be used to target the right people. He also mentions that if someone views your profile, but does not respond, it is worth reaching out again in a week or so.
Evan suggests ending the message with an open question in order to get a response rate. Evan added that he often sends a short version of his elevator speech, which outlines the biggest challenges he helps people with and then inquires which of those things the other person is running into. This is done to see if the contact is responsive and to see if they are a good potential prospect.
Reaching Out to Past Contacts
Evan talks about how he reaches out to people he served in the past in order to get referrals. He suggests to start by reconnecting with them, asking how they have been and what has changed. He also suggests sharing what he is currently working on, and to ask them if they know anyone who could be a good introduction for him. Evan also suggests that if someone has referred him in the past to remind them of how they first started working together. When it comes to following up, Evan suggested to follow up two to four weeks later and to keep a spreadsheet with the date of outreach and the result of the outreach. He has found that, recently, a call is regarded as more personal and people are more likely to respond. He also talks about reaching out through email and effective subject lines.
How to Leverage Relationships for Referrals
Evan explains that most people don’t ask for referrals. If it’s a current client, he suggests asking how satisfied they are with the service provided. He finds that if he shares information about his business, it allows him to present a broader range of services and plant the seed for future referrals. He also suggests the kinds of clients that would be a good fit. He also puts a timestamp on the conversation to see how interested they are in offering the referral. He also offers tips on how to reach out to contacts on LinkedIn who don’t really know you. A 20% response rate is considered a good result and he stresses adding a bit of nuance to the message to show that it is coming from a real person and not a bot, offers a handy tip on using your profile to determine interest in your outreach, and how to reach out to and follow up with potential clients with whom you have no connections and/or do not return your messages, and when to put them on the back burner.
Timestamps:
05:27 Top Challenges Faced by Professional Service Firms
08:07 Exploring Strategies for Gaining Access to More Opportunities
10:32 Exploring Strategies for Reaching Out to Ideal Targets
14:22 Business Development Consulting Practice
15:29 Networking and Introductions
32:58 Crafting an Effective Cold Outreach Message
35:03 Exploring Sales Coaching and Psychology Strategies on LinkedIn
36:12 Cold Outreach Strategies for Consulting Firms
37:55 Reaching Out to Past Clients and Following Up
44:30 Cold Outreach Strategies for Business Development
46:15 Follow-Up Strategies for Outreach Success
Links:
Polin Performance Group www.polinpg.com
Selling Professional Services the Sandler Way: Or, “Nobody Ever Told Me I’d Have to Sell!”
CONTACT INFO:
evan@polinpg.com
215-970-2360 (office)
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes
Sarrah Rose is an executive intimacy coach who runs the firm CEO on Fire. CEO on Fire helps senior level executives optimize their lives. Sarrag works with clients to help them achieve personal growth and spiritual development. She has been working in this field for the past 10 years, and rebranded to CEO on Fire to focus on executives specifically.
Sarrah works with primarily male senior executives to help them balance their personal and professional lives. She looks at their relationships, sex lives, and other aspects of being human to give them more fun in life. Some of the challenges of working with senior executives include having less time for family, travel, and the specific personality type needed to become a CEO. ADHD is common among executives and can be both a superpower and a challenge. The benefits include hyper focus, the ability to see the bigger picture and from different perspectives, there’s also a lot of sexual energy. Sarrah introduces her clients to tantra which helps them use and channel this sexual energy productively. She has noticed that many clients are self-made and grew up in a more impoverished situation. This change in their lives often leads to a disconnect with who they were and who they are now, and how they are perceived. Rose helps her clients overcome these difficulties and create a balance between their personal and professional lives to better enjoy their lives.
Relationship Challenges of Senior Executives
Sarrah talks about the challenges that high-powered male executives face in their roles as fathers and in their relationships with their significant other. Sarrah explained that presence and empathy is one of the biggest areas that executives need to focus on to provide for their children. They need to be able to give their children their undivided attention and love, safety, and belonging. Sarrah explains that the process she takes her clients through helps them develop these skills.
Will asks Sarrah how executives manage to shift roles from boss at work to partner at home. Sarrah explains that it depends on the relationship. She talks about the initial attraction to the partner is a combination of nature and nurture, and that the attraction is often tied to wounding. To navigate this, Sarrah helps her clients understand the layers of attraction, create more intimacy, and be aware of the different seasons of relationships and how to intelligently navigate the changes and the tough times.
Sarrah believes that one of the challenges that these executives often face is understanding the difference between men and women, and how to seduce their partners and maintain a state of heightened arousal. To help her clients, Sarrah suggests flirting through text throughout the day and engaging in roleplay and fantasy before you enter the bedroom. She also emphasizes the importance of leaving business talk out of their relationship and engaging in more light-hearted and fun conversations. Sarrah also mentions the importance of maintaining friends outside of one's work life. Some have stayed connected to people from their past and have maintained those long lasting relationships, while others have not.
Strategies Used in Executive Intimacy Coaching
When she starts working with a client, Sarrah starts off with an introductory call with her clients and then follows up with a diagnostic session. During this session, Sarrah gets to understand what her client is looking for and engages on a personal level. When it comes to exercises and tips, Sarrah explains that communication is the most important and also the most difficult area for her clients to master, especially when it comes to discussing intimate sexual and emotional conversations. She offers a few questions to help explore and connect on a deeper level. Sarrah notes that the first and most important area to focus on with clients is their relationship with themselves, including patterns of self-sabotage, trauma, and triggers. Throughout the program, Sarrah explains that they use four main strategies that begin dealing with the nervous system, including breath, sound, movement, and focus, which can be combined in different ways. By using these strategies, clients can release stress cycles and better understand their own needs and desires. Additionally, Sarrah helps clients focus on what one desires to create in life and then looking at where there are fears, resistances, and self-limiting beliefs that need to be worked through in order to move forward. By understanding oneself and engaging in self-reflection, it is possible to build a strong relationship with oneself and achieve one's goals.
Sarrah adds that sleep is a common issue among senior executives, who often struggle to fall asleep due to the demands of their job and the inability to turn off their minds; she suggests specific questions and practices to help address this issue.
CEO Case Study and Dating in Today’s World
Sarrah talks about how high-powered CEOs approach dating in today's world. She shares a success story from one of her clients who was in an abusive relationship and how she helped him heal and prepare for his next relationship. Sarrah recommends that high-profile CEOs use matchmakers and that she works with the matchmakers to help her clients find the right person to have a fulfilling relationship. Sarrah also shares that she personally uses dating apps and that she sees many high-profile CEOs on the apps.
Sarrah explains that she works with the top 1% of men, helping them to become more confident and successful with women. She also shares that she makes organic introductions for her clients if they seem to be a good fit. Sarrah emphasizes that men need to be willing to do the work necessary to make successful relationships with women.
Timestamps
01:32 The Challenges of Senior Executives' Personal Lives
09:48 Seduction Tips for CEOs
11:26 Maintaining Friendships Outside of Work
12:57 Intimacy and Sexual Energy Exercises
14:31 Relationship and Sexuality Coaching
22:29 Exploring Intuitive Movement and Sounding for Self-Exploration and Transformation
22:53 Sleep and Habits for CEOs
26:38 Sleep Challenges for Senior Executives
27:32 Executive Intimacy Coaching
29:59 Success Story: High-Powered CEO Overcomes Insecurities After Divorce and Prepares for Next Relationship
Links:
https://ceoonfire.com/
https://www.instagram.com/sarrahrosenyc/
CONTACT INFO:
https://www.linkedin.com/in/ceoonfire/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
David Newman is a Certified Speaking Professional (CSP), marketing expert, speaker, and founder of Do It! Marketing. In this episode, Will Bachman and David discuss his new book, Do It Selling. The book is organized with 77 instant action ideas that can be used to land better clients, bigger deals, and higher fees. The book is divided into micro chapters which focus on topics such as understanding the sales process, creating an ideal customer profile, building relationships with potential clients, using content to create credibility, and closing more sales. Additionally, the book includes many stories, case studies, and advice from David's own experiences. The goal of the book is to help independent consultants learn how to market and sell their services effectively.
David talks about the fact that many consultants and professional services firm principals love the work but not the sales aspect. David explains that one needs to upgrade their sales brain to be successful in sales. The idea is to replace the words ‘selling’ and ‘sales’ with invitations to conversations and reframe the idea of selling to connecting.
Lead Generation and Client Communication Ninja Tricks
He encourages people to change how they view sales to be less focused on chasing and persuading, and more focused on the qualifying, sorting, and filtering business rather than chasing and persuading. He encourages a shift from taking an inferior vendor stance trying to persuade the client of your value to that of a casting director for whom the clients are auditioning. He moves on to the idea of targeting the clients you want and launching intentional and specific relationships to open doors rather than “taking what comes.” This puts the seller back in control of their lead generation and prospecting, and allows them to be more proactive and hold better conversations. The crux of this approach is to lead the client to want what you do.
David talks about the current approach to cold calling and prospecting when generating leads, and how the approach should be more about serving before selling and helping before pitching. He suggests making an “active 20” list and gives tips on how to reach out to and warm up those contacts and avoid your proposal landing in a black hole. David offers tips on how to connect with clients through being where they play, write where they read, and be where they attend. He talks about checking into trigger events in the industry you are targeting such as upsizing, downsizing, mergers and acquisitions etc. This entails doing thorough research on the client and understanding the clients’ situation to ensure your communication relates to their current situation.
How to Reach Out to Cool Contacts
Will and David discuss tactics for reaching out to cool contacts. David suggests apologizing for the lack of communication and to follow with a direct and authentic request to catch up on where they are and where they are going – but not to sell. He also offers a few ninja tricks on how to encourage a follow up conversation. The goal should always be to build a rapport with the customer or client, and to show that your company cares about their needs by demonstrating thoughtfulness, relevance, and value. David offers examples of each to clarify these three points and how this approach works for reaching out to past, present, and future clients to ensure you are perceived as a trusted advisor.
Revenue Acceleration and Business Growth
David divides his clients into three buckets: Zero to Hero (consultants who have just left a corporate role), Hero to Superhero (those who have gained experience in their industry and are looking to take their consulting to the next level) and Superhero to Intergalactic (those who have a lot of experience and are looking to take their consulting to a much higher level).
For those in the zero to hero stage, he helps them with lead generation, prospecting, sales, and sales processes. Those in the hero to superhero stage are looking to double or triple their current business and need to make changes to do so. Finally, those in the superhero to intergalactic stage are looking to scale their business to reach the million dollar mark. David focuses on helping them with scaling strategies, such as hiring a team, licensing, and digital programs, to help them become the CEO of their business. David discusses how consultants can reach the 500k plus plus level, by building infrastructure and focusing on revenue multipliers.
He explains that businesses need to make money even when the consultant takes time off or goes on holiday, and emphasizes the importance of setting up systems that can make this happen.
Recommended CRM System
Will Bachman and David Newman discuss the advantages of using a CRM system over just a spreadsheet for tracking conversations and action items. David recommends One Page CRM, as it has powerful features on the back end and is simple to use on the front end. He also recommends grabbing free resources from his website, doitmarketing.com, such as the companion tools to his book, the 500k Consulting Gameplan session, and the Do It Marketing Manifesto. David’s company offers a few different ways to work with clients, either through one-on-one discussions, mentoring programs, or group sessions and includes daily coaching, live events, online communities, sales labs and sales gyms. He is open to chatting with people who contact him at his email, David@doitmarketing.com.
Timestamps
03:44 Professional Services Firm Growth and Sales Mindset
08:48 Tips for Generating Initial Conversations in Sales Prospecting
16:33 Reaching Out to Cool Contacts
20:34 Catching Up with Past Clients: Revitalizing Old Projects and Teams
23:07 Follow-Up Strategies for Unresponsive Prospects
29:03 "Strategies for Direct Prospecting: An Email Example"
36:04 Revenue Acceleration Strategies for Consultants and Executives
38:13 Revenue Multipliers and Technology Recommendations
39:25 CRM Systems and Consulting Services
45:24 Content to Solve, Not Content to Learn
Links:
www.doitselling.com - to get the book bonuses
www.doitsellingbook.com - to buy the book
www.doitmarketing.com/manifesto - free 37-page guide
www.doitmarketing.com/webinar - free on-demand training for consultants
The Selling Show Podcast
CONTACT INFO:
David@doitmarketing.com
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes
Greg Fincke is a Managing Director at Equiteq, a global sector focused investment bank that works with entrepreneurs in the IT services and management consulting sectors to create exit strategies. They have offices in London, Singapore, New York with smaller outposts around the globe. They typically advise on companies with 3-25 million EBIT range, and revenue up to $200 million. The firm has 70 members around the world and did 20 transactions last year with an aggregate value of a billion. An expert in M&A deals, Greg discusses how the big deals are typically handled.
What it Takes to Build a Sellable Consulting Firm
The conversation focuses on the question of what it takes to build a sellable consulting firm. Greg suggests that one of the key factors to consider is key person risk; if a potential buyer is looking at a buy versus build situation and the equation starts becoming too expensive for the buy, it may be difficult to close the transaction. To build value and reduce the risk, it is important to have multiple people who can drive the business forward. Other factors to consider include developing a strong brand, having a good network of clients, a diversified client base, and a good mix of services or products. Additionally, it is important to have a good relationship with other consultants, vendors, and potential buyers. Finally, it is also important to focus on long-term goals and invest in the growth of the firm.
Greg explains that when looking at the financials of the firm gross margin is an important factor. Buyers typically want to see firms with a gross margin of 40% and discounted when under 40%. When thinking about valuation, you're looking at how the business looks financially and what they do. Greg talks about gross margins for consulting firms when the owner is selling the business. He explains what the two types of gross margins are and how to calculate partner cost, and typical multiples are for a consulting firm.
Scaling a Consulting Firm
This conversation focuses on the difficulties of scaling a consulting firm. On one side, there is the need to acquire new clients and promote the services of the firm, and on the other, there is the need to create, onboard and teach new consultants. Achieving a balance between these two elements is crucial, as buyers are looking for firms that can deliver services that scale, on both supply and demand, and are willing to pay a premium for it. Greg talks about buyers’ preferences, suggesting that they would rather work with firms that have good web traffic and reputation and are able to generate inbound leads, rather than those that need to grow the sales side and bring in clients. He explains why they consider IP an important factor of consulting services. He talks about talent recruitment and retention, and the value of a firm that offers a strong career plan and training and coaching systems as this demonstrates the ability and control to scale with in-house talent instead of relying on recruiters to find talent which can be unreliable and expensive.
Beyond Corporate and Private Equity
According to Greg, the best options in firm valuation in management quality are how well companies are run, retention, sales and profit growth, and who your clients are and how you engage with them. Fortune 500 and private equity are the two most valuable in the market, and vertical specialization. From a delivery model, being able to deliver fixed fees on good margins is most desirable.
Smaller consulting companies are seen as less valuable because their financial spend is significantly lower. These companies tend to engage in one-off consulting projects and do not have a consistent spend on consulting, making them less desirable to broker deals. Greg states that the buyers for deals have changed over the last five years and shares a few examples of company M&A his company has facilitated.
What Partners Can Expect when they Sell the Firm
Greg shares what partners can expect in terms of a percentage and timeline. The numbers vary widely depending on the buyer. He explains what can happen to the team after a sale, and how it often inspires an entrepreneurial spirit. He mentions that often buyers are looking for a new service line and that the synergy between companies should accommodate this growth and value, in this scenario the team stays independent, in other cases, there may also be an integration of teams.
Greg reflects on how clients move forward after selling a firm; often they take a role in the management team of the larger company, and some have retired from business to sail around the world, or just retire, but he hasn’t encountered any who regret the sale or decide to start a new business.
He talks about the advice he gives companies when the founders are not quite ready to sell such as having a goal for the sale, this entails examining what the bottlenecks for growth are, whether that is client or talent acquisition. Greg helps them focus on the goal and target market growth. This may include building talent to open doors, and investing in marketing. He talks about the buyer universe for smaller firms, how this differs from the larger M&A buyers, and who takes care of the billion dollar deals.
Greg shares how his company secures clients, his team’s laser focus on a specific industry, and the type of advice they give clients.
Timestamps
02:42 Exploring the Value of a Consulting Firm: Key Person Risk and Building Value
10:43 Scaling a Consulting Firm
13:16 Growing Sales Through IP and Recruiting Processes
17:01 Management Quality, Retention, Sales and Profit Growth, and Client Engagement
22:19 Private Equity and Strategic Acquisitions in the Consulting Space
23:53 Selling a Firm: Earnout Periods and Expectations
37:35 Recent Private Equity Acquisitions in the Management Consulting Industry
39:42 Billion Dollar Deals in the M&A Space
40:32 Exploring the Range of Options in the Consulting Industry
43:37 Building Value in the Consulting Industry
47:09 Resources for Learning About the Consulting World
Links:
Greg Alexander The Boutique
E2E.com
Consultancy.uk
Collective 54 Podcast
The World’s Newest Profession – Chris McKenna
The Lords of Strategy – Walter Kiechel
CONTACT INFO:
https://www.equiteq.com/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Ulrich Riedel and Will Bachman discuss Ulrich's unique cold lead generation process via LinkedIn. Ulrich advises to respect the leads and to be careful to select only candidates who would benefit from this process and to be careful not to spam. He shares why he chose to find leads this way and explains why there is more upside than downside to his process. He explains that the process involves several aspects such as researching the prospects, creating a message, and following up. He also suggests focusing on building relationships and emphasizing the value of the offer. Finally, he stresses the importance of tracking results and being persistent.
Using LinkedIn Sales Navigator to Contact Leads
Ulrich offers three pieces of advice on how to use LinkedIn Sales Navigator to reach out to potential leads. He stresses the importance of your investment in time and money investments to ensure the leads are super targeted, as sourcing too many leads that do not fit the needs of the company will be a waste of the time and money invested. He emphasizes that real expertise and external help are needed to set up the process.
Hiring an Expert in Lead Generation
Ulrich discusses how he hired an expert to help him with his lead generation process. The expert used a Sales Navigator, which is a powerful search tool, to look for leads and contacts, and then organize them in groups and tag them to make sure none were duplicated. Ulrich created the messaging, but they were responsible for sending out initial connection requests and any follow-up messages. Once a prospect accepted and engaged, the expert would set up a call in the prospect's calendar and then hand the contact over to Ulrich to handle. Ultimately, the expert helped Ulrich to find, organize, and contact the leads, which saved him time. He talks about his direct and concise communication technique that helps him build a connection with suitable prospects.
Reaching the Right People through LinkedIn Sales Navigator
Ulrich helps reduce implementation risk and increase project value for large complex projects and strategies. He has been doing this since 2004 and has found that his initial connection requests were not reaching the right people. He now targets Senior Vice Presidents and above in companies with $3 billion or more in Germany, Switzerland, and Austria. His current connection requests are clear and direct, stating his goal to reduce risk and increase project value followed by an offer to explain how he would achieve this for the person he is reaching out to. Once he has secured a lead, Ulrich transfers the client from LinkedIn Navigator to his own CRM system to keep track of communications, campaigns, and status etc. He explains how and when he makes first contact, how he follows up with them, often using GetEmail and RocketReach to find emails of his clients, and how he schedules meetings.
Most importantly, Ulrich focuses on authentic and respectful communication. He stresses the importance of patience and persistence, and that following up with clients on a regular basis to remind them of the benefits they will receive from Ulrich’s expertise pays off. He finds that out of 100 connection requests sent, usually 20 will connect. He sends the 20 a longer message and roughly five will reply. Out of five, he will secure one client. Ulrich shares when and how he follows up with the other potential clients. He checks his CRM system daily and explains why he uses Outlook Contact instead of Hubspot.
Timestamps:
04:15 Exploring Strategies for Effective LinkedIn Outreach
05:05 The Benefits of Utilizing Expertise for Lead Generation
08:38 Maximizing Project Value Through Risk Reduction
10:51 Exploring the Benefits of a Custom CRM System for Lead Tracking
12:41 Lead Management and Prospecting Strategies
18:56 Building Professional Connections on LinkedIn
24:56 Networking Strategies for Building Trust and Connections
28:37 Utilizing Sales Navigator and CRM Systems for Lead Generation
30:13 Leveraging CRM Systems for Business Growth
Links:
https://www.drulrichriedelconsulting.ch/
CONTACT INFO:
https://www.linkedin.com/in/DrUlrichRiedel/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes
Ulrich Riedel and Will Bachman discuss Ulrich's unique pricing model for independent consultants. Rather than being paid upfront or daily rates, Ulrich gets paid a percentage of the value he creates for the client at the end of the project. To make this type of pricing model possible, Ulrich needs to make sure certain conditions are met, such as creating value for the client, measuring the value, and convincing the client of the value. He also needs to make sure that the client will be willing or able to share in the risk associated with the project. Ulrich has learned how to do this through experience, and was willing to share his knowledge with Will and the viewers of Unleashed.
What to Consider with an At-risk Pricing Model
Ulrich Riedel explains that there are four main themes to consider when using an at-risk pricing model. First, the offer needs to have unique value to the client. Second, the individual must be willing to accept risk. Third, the client must be open to the at-risk pricing model. Fourth, the approach to project generation must be tailored to the at-risk pricing model. He suggests that the network may not be enough for project generation because many close relations may not be able to accept at-risk pricing. A solution to finding suitable clients, may be to develop cold lead generation through LinkedIn might be helpful. He also suggests partnering with people who have contacts to potential clients and projects, and what he found most helpful is to establish oneself as an expert to increase trust.
Pricing the Project
Ulrich specializes in large, complex projects that are worth more than $100 million that involve many functions, hierarchies, global reach, different countries and cultures, change management with hesitancies and conflicting priorities, and the list goes on. He analyzes the entirety of the project, helps implement it, and generates an added value of 8-15%.
Ulrich discusses a project they are working on with a client to shape the future. His role is to provide insight and advice on the strategy and execution of the project. He recently worked with a small company with a few $100 million turnover to help them optimize three main projects. He is also responsible for talking to many people in different hierarchies to collect data and figure out where value is hidden and how to create an intervention and implementation plan which could generate much more value.
Prospect Generation
Ulrich studies the mentality of the client and the company and talks to people in all hierarchies to gather in depth information from all levels, including employees at the water cooler or the factory floor during the night shift. Once he has an implementation plan in place, he sits down with the client to discuss two main variables: volume and cost. Ulrich also talks about how he determines his fees, and the search time for finding projects, and how long projects typically take.
Timestamps:
- 03:54 Exploring At-Risk Pricing Models: Strategies for Generating Projects and Establishing Trust
- 06:05 Exploring Value-Based Pricing for Large Complex Projects
- 06:25 Consulting on Building a New Business Model with a Hybrid Technology
- 11:46 Value Creation and Compensation for Consultancy Services
- 14:39 Exploring the Long Sales Cycle and Prospect Generation
Links:
https://www.drulrichriedelconsulting.ch/
CONTACT INFO:
https://www.linkedin.com/in/DrUlrichRiedel/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes
Tony Martignetti and Will Bachman discuss the importance of maintaining energy and excitement as a solopreneur or independent professional.
They talk about taking an assessment of the tools and different parts that you have been working on for your business. It is important to check in with yourself and ask what it is that you really want and what you are driving towards. It is necessary to determine which tools and activities are providing you with energy and which are draining you of energy.
They also discuss how to tap into inspiration and creativity. Martignetti recommends getting out of your current environment to experience awe, which can't be done while sitting behind a desk. Tony shares a few activities where he found inspiration, including climbing Mt. Kilimanjaro.
Priorities and Values in Leadership
Tony talks about the concept of grounded leadership and how to achieve it in the context of executive coaching. Bachman asks for the first step to take to become more grounded. Martignetti responds that it is important to first be thoughtful, clear on one's priorities and values, and that all decisions should be based on these. From there, one can focus on creating calm within the chaos and help others to do the same. This could involve creating a plan to keep oneself grounded, such as setting reminders to pause and check in with oneself, or reflecting on values and purpose. Ultimately, it is important to remember that everything should be done with these priorities and values in mind.
Tony talks about the importance of understanding the foundation of one's values, mission, and purpose in order to make decisions. Will and Tony discuss the STOP method, an acronym for Stop, Take a Breath, which is a classic mindfulness practice that can help in moments of stress and when one is triggered. Taking the pause allows them to slow down and not react. This method encourages people to take a moment to reflect on their values and ask themselves questions about why they are doing something.
Dealing with Difficult Situations
Will and Tony discuss maintaining mindfulness using the Stop, Observe, and Proceed method of dealing with difficult situations, which involves taking a moment to understand what emotions are coming up, and why. Will mentions the importance of not sending emails when annoyed and suggests making a phone call instead. Will talks about his executive coach’s question, “What are you currently avoiding?”. The conversation ultimately emphasized the importance of taking time to understand and process emotions before taking action.
Questions Used in Coaching
Tony talks about the questions he uses in his coaching practice. Tony's first question is, “when you look at the week ahead, what do you look forward to the most?” He then moved on to the question of “what is one conversation that you are putting off that you really need to have.” This helps to identify any areas of avoidance and to move forward with life and work. He suggests taking note of what you are tolerating. Will asks Tony what sorts of responses he gets from his clients to the question of avoided conversations. Tony responds that he typically gets a variety of answers, ranging from fear of failure to fear of rejection to lack of clarity on how to approach the conversation.
Tony tells Will where he found inspiration for his book, Climbing the Right Mountain, and how to think differently about success, and how to determine the right mountain for you. He talks about his coaching practice and workshops, and how many of his clients feel stuck or want to grow in a new direction.
Timestamps
03:03- Assessing Business Activities to Maximize Energy and Productivity
04:43- Evolving and Inspiring Yourself as an Entrepreneur
07:30- Reflection and Inspiration for Business Growth
10:12- Experiencing Awe and Climbing Kilimanjaro
13:41- Exploring Human Experience: Tips for Training for Kilimanjaro and Experiencing New Things
15:08- Expanding Consciousness and Grounded Leadership
16:52- Grounded Leadership
18:30- System Two Thinking and Executive Coaching
20:53- The Benefits of Establishing a Foundation for Decision-Making
24:17- Incorporating Questions into Coaching Practice
Links:
Climbing the Right Mountain
https://www.inspiredpurposecoach.com/
CONTACT INFO:
https://www.linkedin.com/in/tonymartignett1/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Nick Shevelyoff is a cybersecurity expert who recently left his role as Chief Information Security Officer at Silicon Valley Bank to pursue consulting services.
In the mid-1990s, Nick Shevelyov began his career in technology. He soon became interested in cybersecurity and went on to work for a boutique security consulting firm. Shevelyoff later spent years working in Enterprise Risk Services at Deloitte, specializing in cybersecurity and data privacy. In 2005, he joined Silicon Valley Bank as the chief security and chief privacy officer. During his 15-year tenure at the bank, Shevelyoff became CIO and then chief information security officer. Throughout his career, he has been interested in understanding cyber risk from a holistic perspective.
The Book on Cyber War and Peace
Nick discusses his new book, Cyber War and Peace, which explores how organizations can learn from lessons from history and behavioral science to improve their cybersecurity posture.
In his book, Nick covers a wide range of topics related to cybersecurity, from the history of technology to the importance of risk management. He highlights how ancient civilizations such as Babylon and Rome dealt with technological challenges and draws parallels to modern cybersecurity concerns. He also emphasizes the importance of knowing oneself in order to effectively defend against cyber attacks.
Nick enjoys reading about ancient Greece, Rome, and the Napoleonic Wars, among other periods. He draws upon lessons from these periods in his book, specifically around the importance of practice and preparation.
To get a sense of a company's current level of preparedness, Nick recommends asking questions about the company's existing investment, business outcomes, and risks. He also suggests using a framework like the National Institute of Standards and Technology critical security framework to measure the organization against that framework and understand where the gaps are.
Executive Planning for Investments and Technology
The need for business executives to properly plan ahead when considering investments and technology cannot be overemphasized, and Nick suggests that it is important to understand the existing conditions, the age of the company, the outcomes they are looking for, the risks they may face, and the value of the data they have. He recommends a Z-shaped relationship to connect the goals to the risks, and to understand the unique risks facing the organization. Nick also suggests that it is important to consider the volume, variability, and veracity of the data, and the layers of control that can be used to manage the uncertainty.
Bespoke Security Models for Organizations
Nick and Will discussed the process of creating a bespoke security model for an organization. Nick suggested using a commonly accepted framework, such as the National Institute of Standards and Technology Critical Security Framework, to measure the organization against and identify gaps. Additionally, Nick suggested considering the Mitre Attack Framework to assess how an organization is susceptible to different types of attacks and the OWASP Top 20 to identify any potential application vulnerabilities. To further understand the current security state, Nick suggested conducting vulnerability scans, penetration testing, and application security assessments.
He also talks about leveraging tactical conformance checks to assess an organization's cyber health. Nick provided insight into the criminal business world of hackers today, which is an industry run by criminals who attack organizations, steal data, and sell it on the dark web. This hacking as a service has become operationalized and victims of ransomware attacks, where malware is deployed on networks and locks up their systems, are all too common.
He discussed the ongoing cyber war, where foreign governments are encouraging and supporting hacking of US and Western companies. He also mentioned that cyber risk is a reflection of geopolitical risk, and that organizations should always be investing in the right risk posture. Nick is now offering consulting services to help innovators and entrepreneurs all over the world improve their probability of success. He is also working as a fractional Chief Information Security Officer.
Timestamps
09:58- Exploring Risk Management Strategies for Business Executives
12:16- Exploring a Bespoke Security Model for Organizations
14:00- CYBER HEALTH: Leveraging Tactical Conformance Checks to Assess Organizational Risk in the Criminal Business World
17:06- Cybersecurity and Cyber Risk
22:22- Fractional CFO and CISO Services
27:13- Developing a Security Program for Organizations
30:17- DevSecOps and Risk Management
Links:
https://www.nickshevelyov.com/
https://www.amazon.ca/Nicholas-Shevelyov/e/B09BDGQD22%3Fref=dbs_a_mng_rwt_scns_share
https://authorhour.co/cyber-war-and-peace-nick-shevelyov/
CONTACT INFO:
shevelyov@gmail.com
https://www.linkedin.com/in/nicholasshevelyov/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes
In this episode, Will Bachman explains how independent consultants can set up and use a paid CRM system.
While a spreadsheet is a great place to start when setting up a CRM system as it is free, and can help you understand which features of a paid system you would like to have, Will explains why, at one point, you might want to upgrade to a paid CRM system, and how CRM systems offer advantages over spreadsheets when tracking contacts, opportunities, and projects.
Advantages of a CRM System over a Spreadsheet
One advantage is that you can add documents to the categories mentioned in the previous episode: contacts, company and/or opportunity. Other features can include the ability to add notes from discussions to keep track of customer interactions, automated reminders, and tracking customer feedback. The CRM system provides the ability to attach documents, such as resumes for potential subcontractors, and add notes from conversations. It also allows for a photo of the contact to be attached, as well as other fields like name, title, employer, education, location, and LinkedIn profiles. Custom fields can also be created to track newsletters, gifts sent and received, and who introduced you to the contact.
Will explains how CRM systems sync with the user's emails and the contacts' emails, making it easier to track emails from multiple addresses.
Using a CRM System for Opportunities
The CRM system also allows the user to track and easily see all the project opportunities associated with your contacts. Additionally, the user can tag contacts, opportunities, and projects with an industry tag, or functional tags, or skill-based or discreet defined tags, making it easier to categorize and track these elements.
Using a CRM system to Manage Tasks
Using a CRM system has several advantages. One of these is the ability to easily manage tasks. This can be done by adding task tags to contacts or projects and then viewing them all in one place, whether that is to follow up with a contact or submit a proposal, and you can easily mark them as done or change dates etc.
Another advantage is the ability to easily manage opportunities. It is possible to have a visual view, with columns for the status of each project, and have the ability to drag and move the tiles. A third advantage is the ability to customize the names for the stages of an opportunity. These stages include identified opportunity, completed context discussion, submitted proposal, and finally whether the project was ‘lost’ or if it is ‘1 Active’, or ‘1 Completed’. Additionally, when a project is moved from one stage to another, a pop up will appear asking for the reason. You could also add other stages such as ‘On Hold’ to remind you to follow up at a later date, and you could add a ‘Future Opportunity’ tab to remind you to follow up about it. You can also add documents to opportunities to keep all that information in one place and easy to access. Another useful feature is to add reports to give insight into projects won and lost. You can also easily add other users to give easy access to team members, but you also maintain control over the system to ensure no-one accidentally deletes or changes information.
Researching CRM Systems
Will also explains how to set up a paid CRM system, such as choosing a provider, setting up user roles, and integrating the system into your workflow. Lastly, he talks about the importance of finding the right CRM system that suits your needs. Will recommends starting with a spreadsheet to get an idea of how you need to structure the information you need, and then look into resources on Umbrex.com where you will find information on CRM systems used by members.
Timestamps
00:01 The benefits of using a purpose-built CRM system
02:38 The benefits of a CRM system for tracking contacts
03:49 Creating custom fields
04:57 The benefits of a CRM system for tracking opportunities and projects
07:36 Stages of opportunities in a CRM system
11:18 Adding users to the CRM system
Links:
Notes on using a purpose-built CRM system: https://docs.google.com/document/d/1SfVS9cB_YtmTgtRoBb1hWAxo-qy1vbC6BqiOKtTpEFo/edit?usp=sharing
Show Notes
In this episode of Unleashed, Will Bachman explains how independent professionals can use a spreadsheet as their CRM system. A spreadsheet can be an effective first step before investing in a paid CRM system, and for independent professionals, the most fundamental use of a CRM spreadsheet is to keep track of the people, organizations, and project opportunities, in addition to confirming new projects, but the first step in setting up a CRM system should be to create a spreadsheet of all your contacts, and another tab with all your past projects.
Ultimately, using a spreadsheet as a CRM system can be a great way to get started and gain familiarity with the features of a paid CRM system before investing, but when you do, you’ll be able to upload your spreadsheet into the CRM.
Will walks you through setting up a CRM system. The initial tabs discussed are 1.contacts, 2.opportunities, and 3.companies.
Using a Spreadsheet for Contacts
When setting up the contacts tab, a few fields are recommended, including:
info about the person, like employer and title, name, pronouns, ID number
URLs/links/social media links
Physical address
It's also recommended to have separate columns for first name, middle name, last name, maiden name, and nickname. It is also recommended to include the option to track if the contact is a connection on LinkedIn or not.
When it comes to tracking contacts, emails are essential, and often, the preferred method of communication. It may also be helpful to track physical address, how the contact was originally met, the strength of the relationship, the level of decision making power, whether they are a client or potential partner, the industry they are in, the date of the last contact, the time interval between points of contact, if they are subscribed to your newsletter, if they are on your holiday card list, what gifts have been sent, topics of interest, the name of their executive assistant and their contact info, and the next action to be taken with the contact. Additionally, it is helpful to also track notes from interactions with the contact. Will suggests creating a separate tab for notes on each conversation, and to filter it for any given individual. However, the drawback of using a spreadsheet is that it is not as great as a relational database.
Using a Spreadsheet for Opportunities
For opportunities, the fields suggested to track are:
Current pipeline
Project/opportunity ID, title, associated company/organization
Client executive name, billing contact, and any other names related to the opportunity
A description and stage of the opportunity
Source of opportunity
Will learned this system from David A. Fields and he talked about it in episode 172 of Unleashed. David’s three stages are: identified opportunity, but not yet talked to the client; completed context discussion (which entails live interaction with client), and finally, submitted proposal. If you have several projects in the pipeline, you could also add several stages such as: ‘in contract phase’. Will suggests adding two stages for a contract: ‘1 active’ - for current projects, and ‘1 complete’, for the final stage. It may also be useful to add a stage for ‘lost’ and/or ‘on hold’ and ‘possible opportunity’ for potential opportunities on the horizon that you may want to follow up on in a few months. You could also track the dollar size of the opportunity and likelihood of closing. By tracking ‘likelihood to close’ you’ll gain a better understanding of your ability to your accuracy in estimating potential opportunities, and dates of each stage. And most importantly, columns to include are your next action(s) and action due date(s).
Using a Spreadsheet to Keep Track of Organizations
Company ID, website, LinkedIn, industry
All the projects you have done for the same company
Who else works at the same company
Be able to see all the projects you have done for the same company
Who else you might speak with at the company
Will also suggests adding if you have a service agreement with the company, termination dates, payment terms, and any other key contractual terms, such as a non-compete agreement, and invoicing instructions. While the former company details may not be necessary if you have the details of the company contact in place, the latter is particularly useful if it's been a few years since you worked on a project for the company.
A link to a downloadable spreadsheet template has been added in links to to help you customize your own spreadsheet.
Timestamps
00:01 Using a spreadsheet as a CRM system for independent professionals
01:49 Tracking contact Information for professional relationships
09:27 Tracking conversations and opportunities
16:21: Tracking contact and contract information on organizations
Links:
Notes on using a spreadsheet as a CRM: https://docs.google.com/document/d/1PQssMvenlu4EPVaLevbRNWGlgppIWc8IXFatU4RG5sY/edit?usp=sharing
Show Notes
Will Bachman and Niul Burton discuss procurement and strategic sourcing. Procurement is the function of acquiring goods or services as inputs to a company's operations. Strategic sourcing is a subset of procurement that focuses on the sourcing of goods and services in order to maximize value and efficiency. Niul explained that procurement involves identifying, negotiating, contracting, and working with suppliers on an ongoing basis. He also discussed the importance of understanding the needs of the company, the market, and the supplier in order to ensure that the best deal is being offered. Finally, Niul stressed the importance of building relationships with suppliers in order to ensure successful and long-term collaborations.
Functions of Procurement
Procurement is the process of buying goods and services from external suppliers. Strategic sourcing is a subset of procurement that takes a big-picture perspective to maximize value from spending. Other functions within procurement include contract negotiation and purchase to pay, which is the day-to-day operational execution of requisitions, purchase orders and invoicing. Third party risk management is an evolution of procurement that includes managing risk for external suppliers, licensees, and distributors.
Strategic Sourcing to Drive More Value
Strategic sourcing is an evolution of the procurement function to drive more value for an organization. Historically, purchasing was simply a department that executed purchase orders. Now, strategic sourcing is focused on creating value, as more than 50% of an organization's revenue goes out to their supply base. To manage costs and drive value, procurement and the relationship with the suppliers creates a tremendous opportunity. Procurement is now also doing more supplier risk management, which is a subset of third parties. Strategic sourcing is focused on understanding the current market, developing the right supplier relationships, and creating a competitive environment to drive the best value for the company. The process typically includes conducting a market analysis, negotiating with the suppliers, and implementing a contract.
Strategic Sourcing – A View on Spend
Strategic sourcing is a way of taking a new view on how money is spent. It involves centralizing contracts and purchases, standardizing specifications, and creating competition in the market. A former client of Niul was a big manufacturing company which had 36 different agreements for different sites, each with different terms and conditions and pricing. Strategic sourcing enabled them to look at the situation from a bigger picture view, and negotiate a commercial relationship with the supplier which was worth $1.5 billion over five years. Some of the levers used to create more value included consolidating skews, reducing the number of vendors, and having one standardized contract. Other strategies included aggregating volume, aligning to industry specifications, creating new competition, and process improvement.
Timestamps
00:01 Procurement and Strategic Sourcing 101
02:07 Exploring the Different Functions of Procurement
08:12 Leveraging Value Creation Through Process Improvement
09:25 864 different strategies that can be deployed in strategic sourcing
12:13 Assessing the Procurement Function
15:47 Category Management
30:59 The internal process
39:38 The difference between RFI RFP and RFQ
Links:
https://www.beroeinc.com/podcasts/niul-burton-procurement-digitalization-journey/
CONTACT INFO:
Niul@NiulBurton.com
https://www.linkedin.com/in/niulburton/
https://niulburton.com/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes Jessica Magoch is a jazz musician and sales expert who has put her two skills together to help others. She started her sales career when she was auditioning for college musical theater programs and realized that the best job for her would be one with flexibility - sales. She quickly excelled in the field and went on to work for a company that she helped build from zero to 100 million in revenue. After leaving that company, she started her own consulting and coaching business, where she helps women-led social enterprises learn how to sell.
How to Improve Your Sales Technique
Jessica explains that people who are successful in sales often have an inexplicable thing that cannot be taught. This is because they are able to connect with people emotionally, which is something that can be learned. She explains that music is the fastest way to affect someone's emotions and that using it in a sales conversation can make a difference.
The conversation explores the idea that people make decisions based on emotions and then back them up with logic. The idea is from the study of emotional intelligence. The study found that information travels through the amygdala first before it hits the frontal cortex. The amygdala is where emotions happen, and it is also where gut reactions are. The study also found that the information in the logical part of the brain is very limited. The conversation then discusses how to incorporate these insights from music into sales. One way is to start with your scales, which are your sales frameworks, your sales techniques, and your processes. Another way is to bring artistry to it by looking at the dynamics of music and applying it to sales conversations.
The salesperson's main role is to help the customer take action, and musicality can help with that by adding emotion and creativity to the conversation. Musicality can also help salespeople be more creative in general.
Building Confidence in Business
Jessica talks about the importance of performance in all aspects of life, from music to sales. The idea is that sometimes you have to access different parts of yourself in order to be successful and that this is not a bad thing. Beyonce is cited as an example of someone who has an alter ego that she calls upon when she needs to be fierce on stage.
In business, it is often important to be able to sell oneself and one's ideas confidently. One way to build confidence is to develop an alter ego or character who is comfortable with selling. This can be helpful especially when cold calling, as it can be difficult to remain confident when speaking to someone who may not be interested.
Outbound Sales Strategies
Will Bachman and Jessica Magoch discuss the importance of outbound strategies that involve phone calls. Jessica says that cold calling is often ineffective because people feel like they are just a target on a list. Bachman and Macgoch agree that cold calling is not a pleasant experience.
In order to make a cold call warmer, it is important to do 15 seconds of research on the person you are calling. This will help you to better understand them and get their attention. It is also important to ask permission before continuing the conversation and to be specific about the problems that you are solving.
Timestamps 2:06: Making decisions first emotionally and back them up with logic.
7:24: How to incorporate music into sales?
11:14: How to teach creativity in sales.
15:38: How to be creative in the moment.
20:51: Eliminate the emotion from objections by eliminating the objection.
29:08: How to avoid cold-calling.
34:02: How to personalize your call?
38:06: How to get your voice to be dynamic.
Links:
https://www.jpmpartners.com/
CONTACT INFO:
https://www.linkedin.com/in/jessicamagoch/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Nate Kievman is the founder of Linked Strategies, a company that helps create better relationships between businesses and their ideal buyers. Link Strategies has been in business since 2010 and has evolved over the years into a full-service digital agency.
Link Strategies
Will Bachman is the host of Unleashed, and he and Nate discuss the services that Link Strategies offers. Link Strategies works with companies of all sizes, from one-person consulting shops to large enterprises like BlackRock and NASDAQ. The company typically works with companies that are looking to scale beyond their current referral- or network-based sales models.
Nate discusses the lead generation industry, and how it is highly competitive and non-consolidated. He describes how there are many firms that claim to be able to generate leads, but in reality, most of them use spammy tactics and are not very effective.
The book The Outsiders explores how companies like Salesforce have disrupted traditional businesses by using technology to their advantage. The book argues that companies that are able to use technology to their advantage will be the ones who succeed in the future. The book has had a major impact on the business world and has inspired many companies to adopt similar strategies. The book states that companies that are able to use technology to their advantage will be the ones who succeed in the future.
Lead Generation Strategies
They talk about how there is a low barrier to entry for anyone who wants to start a lead generation business, and how there are many firms that do this with very little experience. They also talk about how recent changes in spam detection have made it very difficult for companies to get their emails delivered, and how this has caused many companies to reevaluate their lead-generation strategies.
Nate explains that the key to getting a response from a busy executive is to respect their time and give them enough information to make a decision about meeting with you. He also notes that it takes experience and knowledge to craft a compelling email that will engage the reader. Finally, he cautions that companies often fail at outbound strategies because they don't commit to the process.
Cold Outbound Strategies
Nate discusses how cold outbound strategies are designed to generate leads, appointments, and conversions, and how companies often fail to properly utilize them. He argues that companies should invest in their partners and salespeople in order to properly execute these strategies and maximize their potential. The conversation discuss tips for sales conversion on cold outreach meetings. They mention that it is important to think of these types of campaigns as a short, mid and long term pipeline development, and that most companies get into it as a tactical buy. They also mention that it is important to understand the nuances of all the facts in your current business, and that contracts should be for a year or more. The salespeople at Kievman's company are focused on finding out the challenges, goals, and gaps of their potential clients. They want to assess whether or not they can help solve the gap before going into their sales pitch. This is important because Kievman's company offers dynamic and customizable solutions.
Timestamps: 1:51: Categories of competitors in the appointment setting and lead generation space.
3:57: The book “Predictable Revenue”
8:52: What’s happening in the world of email deliverability.
14:15: How to get into the psychology of the executive office.
20:25: When you’re sending emails out to your email accounts, who are you sending them to?
25:42: What are some of the archetypes of copy that you use?
30:18: The importance of being a growth partner and not a lead generator.
35:17: The importance of having a candid conversation with your prospects.
40:51: If you had 100 really good friends, how many of them would work with you over the course of two or three years?
Links:
https://www.amazon.ca/Predictable-Revenue-Business-Practices-Salesforce-com/dp/0984380213
CONTACT INFO:
https://linkedstrategies.com
https://www.linkedin.com/in/nathankievman
natek@linkedstrategies.com
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Show Notes:
Unleashed has been running for six years and has 335,000 downloads. In episode 500 of the podcast, host and creator, Will Bachman wants to share three things: the deep personal history behind the podcast, what listeners can expect going forward, and the impact it has had on him.
An Interest in Journalism
Will began his publishing adventures in junior high school when he started the Henry James Herald, a photocopied newspaper he sold or gave away in the lunchroom. He started an alternate to the school newspaper in high school when he found the school paper to be a little less interesting than what he thought it could be.
Despite not having the opportunity to pursue his initial dream of starting his own newspaper in school, he developed a passion for journalism in college when he joined the Harvard Crimson. He became a photographer and learned how to develop film and print photographs, spending around 30-40 hours a week as a photo editor. He enjoyed this experience immensely, as it gave him a sense of being in the know and being able to see his photos in print.
From College to McKinsey
Will discussed his experiences in college, the Navy, and business school related to publishing. During his time in the Navy as a communications officer, he created a bulletin to inform the crew of a tactical readiness exam. In business school he created an elaborate cheat sheet for his fellow classmates to use in their exams. One day when walking into the exam room, he was thrilled to see almost 80% of the room using his cheat sheet. And later in his career at McKinsey, he had a dream of gathering together a collection of resources, but never had the time to execute it.
In business school, Will had an idea of getting the whole business analyst class together every Friday morning to share tips and tricks they had learned from their projects.
The Birth of the Book
After being an independent consultant for four years, Will had an idea to write a book about how to thrive as an independent consultant. This was the birth of a book called Unleashed where he could share his experiences as an independent consultant. He designed a cover for the book with a dog leash and a dog jumping off the page which eventually became the logo for the show. Looking back on his life, Will realized that he’d always wanted to talk to people and then share what he’d learned, and that is the purpose of the show: to share practical lessons learned so people can apply them in their professional lives.
Timestamps:
- 05:26 Taking cheat sheets into Business school
- 07:26 The birth of an idea at McKinsey
- 09:21 The creation of the Unleashed logo
- 11:06 Interviews that address a specific need
- 12:47 What Will has learned from the podcasts
- 13:27 Authors interviewed
- 15:10 The importance of having a podcast
- 18:49 David Fields episodes
Show Notes
John Livesay is the pitch whisperer - he helps people calm down and deliver a winning pitch. He believes that the best way to win more sales is to tell a story that includes your own personal story, a company story, and then turning a case study into a case story. He was approached by Anthem insurance to be their sales keynote speaker and ended up staying for their improvisation session to help people with their pitches.
Ink Magazine dubbed Jordan a pitch whisperer after she gave an example of how she helped a client tell a better story. She was working with Olympus medical, who had a piece of equipment that could make surgeries go 30% faster, but they couldn't understand why more doctors weren't buying it. Jordan explained that people buy emotionally and then back it up with logic, and then she asked the client some questions. The client told a story about how their equipment had helped a doctor at Long Beach Memorial put a patient's family out of their waiting misery. The other doctor saw himself in the story and decided he wanted the equipment. The client was amazed and said they had never thought to make the patient's family a character in the story.
4 Steps to Effective Pitches
John Livesay talks about his process for pitching and how he uses a four step structure to make his pitches more effective. He gives an example of how he used this process to pitch for an airport renovation project. He first paints the picture with the who, what, where, when. Then he highlights the problem and the stakes involved. Next, he provides a solution. Finally, he brings the story to life with dialogue that allows the listener to see themselves in the story.
The speakers discuss the importance of focusing on the problem statement when seeking independent consultants. They tell a story about a fictitious client, James, who needs the caliber of consultant found at a big firm like McKinsey or Bain, but without the full team. James exhausts her personal network and then has trouble finding the right person. The speakers argue that this is a problem that their company, UpWork, solves.
Pitching Tips for Independent Consultants
In this conversation, John Livesay discusses some tips for independent consultants who are pitching their services to potential clients. He stresses the importance of selling yourself first, as people are more likely to buy into your energy than anything else. Additionally, he talks about the importance of using stories to connect with potential clients, as this will help them to see themselves in your experiences.
Will Bachman and John Livesay discuss the importance of finding a mentor, and how to go about finding one that is a good fit. They advise against simply posting a request for a mentor online, and instead recommend reaching out to people you know personally or have worked with before. They also suggest stacking multiple problems to solve, in order to make the mentee more attractive to potential mentors.
Cold Email Subject Lines
John Livesay, a sales trainer, recommends focusing on empathy, listening, and storytelling when making cold calls or emails in order to build an emotional connection with the person you're trying to reach. This will help you earn the right to have a meeting or conversation, rather than be seen as an annoyance.
The conversation discuss tips for writing cold email subject lines and John Livesay shares his tip of funneling potential contacts on LinkedIn. He believes that by staying connected with potential contacts, it won't feel like a cold email when you do reach out.
Links:
https://johnlivesay.com/
https://www.youtube.com/channel/UChWp7P-2gv2a-nppJpXswoA
https://www.amazon.ca/Successful-Pitch-Conversations-Invisible-Investable/dp/0982285353
https://podcasts.apple.com/gb/podcast/the-successful-pitch-with-john-livesay/id982063571
https://www.joinbytext.com/
Timestamps
0:01: What is a pitch whisper?
4:18: How to find the right story to sell.
9:15: The importance of telling the best story.
11:55: How did you get into the field of consulting?
18:50: How do you find the right person?
23:34: How to open your email with a compelling pitch?
28:07: What’s a great open?
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Peter is an energy industry thought leader, and consult and international keynote speaker and co-founder of NorthBridge Energy Partners LLC, an independent consulting organization with expertise and perspective on US energy markets.
Peter has worked with and advised companies as large and established as GE, Nike, and SunPower while also helping numerous start-ups navigate the challenging path to success, and he is the author of "The Energy Switch: How Companies and Customers Are Transforming the Electrical Grid and the Future of Power." You can learn more about Peter and his work at www.peterkellydetwiler.com.
Key points include:
- 06:02: Current challenges faced by the energy system
- 13:25: Energy storage and the energy grid
- 39:02: The future of consulting for the energy industry
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Jonas is a media and entertainment executive with a passion for innovating in the on-demand content ecosystem. In 2019 he was named one of British Columbia’s 40 under 40. As a co-founder of Bumper, Jonas uses his 20+ years of experience in the on-demand content space to help podcasters grow their audiences and return on investments.
Previously, as the Director of Strategy at Pacific Content, Jonas helped clients achieve success in branded podcasting. Pacific Content is an award-winning podcast agency working at the intersection of brand strategy and high-quality audio storytelling.
Learn more about Jonas and his company on Bumper.
Key points include:
- 05:54: The range of requests and services
- 11:23: Podcast strategies
- 21:17: Reviews and vanity metrics
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Todd Cherches is a visionary leader with experience as a consultant, trainer, executive coach, TEDx speaker, keynote speaker, panelist, professor, author, blogger, and thought leader in the field of leadership and visual thinking. In this episode, he talks about his patented VisuaLeadership® approach. You can learn more about Todd and his work at www.toddcherches.com or www.bigbluegumball.com.
Key points include:
- 06:18: How to host a creative meeting to drive growth
- 11:43 Exercises in visual leadership
- 24:07: The origins of visual leadership
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Sahana Sharan is Founder and Principal of Elate Health Partners, a company that helps hospitals participate in value-based care through a proven process that grows market share, improves financial health, and achieves cost savings. You can reach out to Sahana through her email sahana@elatehealthpartners.com or on Linkedin.
Key points include:
- 04:35: What’s driving the adoption of accountable care organizations
- 10:31: How the value-based care model works
- 31:39: What a value-based care partnership is like
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Jonathan Paisner has worked with B2B Fortune 1000 companies to evolve and implement their corporate brand to adapt for the changing needs of their business. He has held leadership and senior consulting roles at DeSantis Breindel, CoreBrand (now Tenet) and Siegel & Gale, and previously, he created and ran the brand licensing division of A&E Television Networks. In this episode, he shares his expertise in brand architecture. You can reach out to Jonathan on Linkedin or through his company website BrandExperiencedGroup.com.
Key points include:
- 02:32: Brand architecture as a window to the overall business strategy
- 11:51: A case example of brand building
- 21:06: Securing alignment between teams and departments
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Raffi Grinberg is the Executive Director of Dialog and an educator. He also created and taught the course Adulting 101 at Boston College (the most popular course in the undergraduate business school). The course covered personal finance, relationships/communication, positive psychology, and career skills. In this episode, he talks about developing this program and why it has been so successful. You can reach Raffi through Linkedin.
Key points include:
- 05:22: Cognitive skills coaching
- 14:18: Growth mindset
- 34:32: Communication skills
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Joana Domingues was an executive coach at McKinsey for 22 years. She is an experienced leadership and organizational consultant, and C-level coach. In this episode, she talks about her services, and her career path. You can connect with Joana through Linkedin or learn more about her work at Outsight.pt.
Key points include:
- 04:29: Favorite open-ended coaching questions
- 27:16: A breakdown of a typical session
- 39:33: A case study of coaching a multinational organization
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
After graduating with a BA in History and Education, Krysten knew she wanted a career where she could help people and make a positive impact. She became a teacher at middle school, but three years later she moved to an insurance agency where she led multiple departments, from operations to training to sales. Since the early days of her career, she has used her skills to coach sales in several industries, including entertainment, construction, retail, property management, consulting, health care, financial services, waste management, manufacturing, and software. You can reach Krysten on Linkedin or through her website Crosscuts.io.
Key points include:
- 01:19: Tips on running a successful Linkedin content strategy
- 12:07: Reaching out to decision-makers
- 22:13: The importance of engaging with comments
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Kyle McDowell is an author, speaker, and leadership coach. Kyle started his career in a regional bank as a front-line customer service representative. He has nearly three decades of experience leading tens of thousands of employees for some of the biggest companies in the US, and he has recently launched his best-selling book, Begin with We, which he talks about in this episode.
Kyle can be reached on his social platforms as Kyle McDowell Inc. and his website KyleMcDowellinc.com.
Key points include:
- 09:47: Dealing with mistakes
- 18:31: Measuring ourselves by activities or outcomes
- 25:42: Challenging with diplomacy
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
JJ Kasper is the founder and partner at Blue Collective, a company that invests in extraordinary entrepreneurs. JJ is also a McKinsey alum, a former teacher, and a paper boy. He is also a self-professed failed attorney, disgruntled academic, reformed consultant, retired turnaround guy, wistful musician, and reluctant VC…. You can connect with JJ through his company bluecollective.com or Linkedin.
Key points include:
- 02:53: How venture capitalists make money
- 13:17: The different stages of investment
- 32:04: The backstory of Blue Collective
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Nicolai is a global leadership and transformation expert and a leading authority on developing human-centered organizations that shape the future. He has worked with more than 30 Fortune 500 companies and government ministries across 5 continents globally, and he has written best-selling books on leadership, personal development and navigating the future. You can learn more about Nicolai and access his books at nicolaicn.com and Linkedin.
Key points include:
- 07:46: Defining achievement, well-being, and growth
- 14:36: The challenges of being a DJ
- 25:07: Issues clients are struggling with
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Tom Critchlow is a freelance strategy consultant and writer of the book The Strategic Independent - Theory & Practice for Independent Consultants. Tom specializes in digital marketing and how to generate leads, understand clients and their needs, and how to shift to a leadership mindset. You can check out Tom’s work at tomcritchlow.com or connect with him on Linkedin.
Key points include:
- 04:18: SEO consulting
- 22:27: Fees and pricing
- 34:41: Examples of new content initiatives
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Nick Gray is an entrepreneur and the author of The 2-Hour Cocktail Party. He is the founder of Museum Hack. Nick started a web hosting company called vs3 Web Services in high school, and he has sold two multi-million dollar businesses. In this episode, Nick talks about his new book and shares the secret to the success of the 2-hour cocktail party. To learn more about Nick and his businesses, check out the following links.
How to Host a Party Website
The 2-Hour Cocktail Party: Website
The 2-Hour Cocktail Party: Amazon
How to Host a Clothing Swap
How to Plan a Networking Event
How to Host a Happy Hour
My Parents Hosted a Party: Here's What They Learned
Mocktail Party: How to Host When You Don't Drink Alcohol
If I Had $10 Million Dollars, How Would I Live Differently?
Nick Gray's personal website
Nick Gray's blog
Key points include:
- 06:05: The NICK formula
- 18:08: Icebreakers
- 27:07: Cocktails and concluding the evening
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Joe "Hark" Herold is a former Air Force colonel, he is the CEO of Design Thinking Denver, a consulting firm that takes a human-centred approach to innovation, and the president and COO of Bunker Labs. Hark's background covers information technology, cyber, civil engineering, and academia, in addition to strategy development and execution.
In this episode, he talks about Bunkerlabs, an organisation that provides community, programs and courses to help military veterans and military spouses start and grow successful businesses and startups. To find out more, visit www.bunkerlabs.org.
Key points include:
- 05:01: The programs at Bunkerlabs
- 08:44: Bunkerlabs’ funding sources
- 13:27: The CEO Circle
- 16:49: The Mastermind Session
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Umbrex co-founders, Margarita Soto and Jing Liang discuss the development of the nonprofit organization they established to support orphans in Ukraine. For more information and to donate to the organization visit:
GOFUNDME: https://www.gofundme.com/f/ukrainian-orphans-need-help
SUNFLOWER ACADEMY: https://sunfloweracademy.org.ua/
To support on social media:
SUNFLOWER ACADEMY INSTAGRAM: https://www.instagram.com/sunflower.academy.ua/?hl=en
SUNFLOWER ACADEMY FACEBOOK:
https://www.facebook.com/SunflowerAcademyUA/
Key points include:
- 01:10: The background on the orphan-foster situation
- 06:26: Growing from supporting two families to 60
- 10:84: Oversight on GoFundMe for nonprofits
- 13:44: Raising awareness for the nonprofit
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Thomas Breuer is a McKinsey alum with over 26 years of executive line level experience in the medical devices industry. He has held management positions in various international markets and regions, including Hollister Incorporated. He has also worked on a broad range of management consulting assignments in the U.S., Europe, and Latin America with McKinsey. You can reach Thomas through his website at www.BrewerPartners.com, or through Umbrex. Key points include:
05:50: First line role in Mexico
11:48: Starting his own consulting firm
13:45: A case study
18:24: Creating his own subsidiary
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Bryant Suellentrop is the founder of Elevate and Delegate, a virtual staffing company that helps professionals hire the assistants they need to run their business efficiently. In this episode, Bryant talks about hiring professionals in the Philippines and how his business facilitates the process. Learn more about Bryant’s business at ElevateandDelegate.com or reach out to him on Twitter @SullyBusiness. Key points include:
05:50: The range of rates and salaries
11:22: Tips on success in hiring and managing the relationship
15:15: Payment processes
18:58: Online security
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Gabe Nelson is the owner operator of a registered investment advisory firm, a fee-based financial planning and investment advisory services to solopreneurs and self-employed professional clients. In today’s episode, Gabe talks about the important details of financial planning for solo entrepreneurs. Access Gabe’s book, The Solopreneurs Money Manifesto on Amazon, listen to his podcast, Solopreneur Money, or visit his website, GabeNelsonFinancial.com.
Key points include:
04:22: The services of a financial advisor
10:16: Insurance planning
20:27: Retirement accounts
31:38: Tax changes for an S corporation
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Dorie is a strategy consultant, executive coach, keynote speaker, a recognized branding expert, and author of several books, including the bestseller The Long Game, Entrepreneurial You, Reinventing You, and Stand Out, which was named the #1 Leadership Book of the Year by Inc. magazine and one of the Top 10 Business Books of the Year by Forbes.
She has worked with a variety of high-profile clients including Google, Microsoft, Morgan Stanley, Fidelity, Yale University, the IMF, and the World Bank. In today’s episode, Dorie talks about her working philosophy and her newest book, The Long Game: how to be a long-term thinker in a short-term world. Learn more about Dorie’s work at www.DorieClark.com.
Key points include:
07:53: How to maximize connection dinners
18:51: Setting boundaries
25:03: The Long Game toolkit
31:01: Creating an online course
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Maria Gabriela Brito is a Venezuelan-born curator, art advisor, and author. She is the author of How Creativity Rules the World, the art and business of turning your ideas into gold. Her published works also include Out There: Design, Art, Travel Shopping, and Greek Gotham. Maria is a graduate of Harvard Law, and after school, she moved to New York City to pursue a career as a corporate attorney. She started collecting contemporary art in the same year, and after nine years practicing law and acquiring art, Brito opened her own interior design and art advisory company. Learn more about Maria’s work at MariaBrito.co, and access her book, How Creativity Rules The World: The Art and Business of Turning Your Ideas Into Gold Key points include:
01:50: From Harvard Law school to art advisor
09:17: Her work as an art advisor and NFTs
15:28: Advice on buying art
34:02: Advice on building creative muscle
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Justin Nassiri is the founder and CEO of Storybox Inc, a McKinsey alum, and president of Executive Presence, a company that helps executives become thought leaders on LinkedIn. He has a B.S. in Electrical Engineering from the Naval Academy, he is a qualified nuclear engineer, and he is a graduate of Stanford University’s School of Business. In today’s episode, Justin talks about his business and how he helps executives build a following on LinkedIn. You can learn more about Justin’s company at ExecutivePresence.io or reach out to him on LinkedIn.
Key points include:
05:26: Common mistakes executives make
10:06: Social rules on LinkedIn
15:46: A case study
20:21: Content strategies
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Brad Schneider ran a data analytics firm for five years before founding Nomad Data in New York City where he is currently CEO. His experience includes but is not limited to HR technology engineer at Goldman Sachs, an equity analyst at Palo Alto Investors and Aragon Global Management, and CEO of the software company Adaptive Management. In today’s episode, Brad shares insights on how to find the data you need. You can learn more about Brad’s company at Nomad-Data.com. Key points include:
01:12: How the Nomad Data network works
04:13: The vendors of data - who they are
06:45: The company pricing model
08:35: Surprising data sources
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Tushar Shah is currently a Managing Partner at Kinderhook Partners, LLC. Prior to Kinderhook, Tushar was a Principal at Geocapital Partners, a leading venture capital firm, a strategy consultant with the Monitor Group, where he led a range of projects in New York, London and Tel Aviv; he is a CFA charterholder and he received a B.A. in Economics from Williams College. In today’s episode, Tushar explains the fundamentals of search funds. To learn more about Tushar’s company, visit KinderhookPartners.com or reach out to him on LinkedIn.
Key points include:
- 00:30: What a search fund is
- 10:51: Who can apply for the fund
- 15:53: Examples of business and services acquired
- 28:12: Assembling a pool of investors
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Paul Millerd is a McKinsey alum, modern-day nomad, entrepreneur, and author of The Pathless Path - Imagining a New Story for Work & Life. Paul provides online courses on strategy consulting and freelance consulting. He is also the creator and contributor of the popular website, Boundless, a site that explores how to have a better relationship with work, and a podcast that is designed to help creatives reimagine work. In today’s episode, Paul talks about his book. You can order the book and learn more about Paul’s programs or sign up for his newsletter at Think-Boundless.com.
Key points include:
02:59: What people believe about work
05:23: Tips on exploring the pathless path
19:43: The results of curiosity conversations
21:41: Disappointments on the pathless path
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Jennifer Smith is the co-founder and CEO of Scribe, a Princeton and Harvard alum, and a former VC and McKinsey consultant turned accidental CEO. She interviewed more than 1,200 business leaders on a quest to understand everything there is to know about corporate processes, best practices, and productivity. In today’s episode, Jennifer talks about her startup Scribe, and how she’s empowering people to own their processes by building the world’s first operating system for know-how. To sign up for a free account, visit scribehow.com/signup
To try a free month of Pro, use promo code UNLEASHED
Key points include:
- 00:49: An overview of the product
- 06:09: Who uses Scribe and how it’s used
- 09:57: Finding the right scribe for your needs
- 12:00: Pricing model of the product
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Karen is an independent consultant who focuses on transformation projects. She has 25 years’ experience leading complex enterprise-wide transformations and M&A integrations to $105bn turnover. Karen has proven expertise in strategy and transformation of complex global businesses, as an executive in IBM Global, she led IBM’s global transformation. Karen has strong cross-sector B2B and B2C, cross-functional and broad geographical experience, including operating in 180+ countries across five continents. In today’s episode, she talks about her work on operational transformation and integration. You can learn more about Karen’s company at SevenTransformation.com, or reach out through LinkedIn.
Key points include:
- 10:14: Board member vs consultant to the company
- 17:00: An example of an operational transformation
- 23:26: Examples of cost-saving opportunities
- 35:58: Getting published in high profile publications
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Celine Teoh is an executive coach who helps senior leaders convert potential into performance by making the soft skills practical. She is a certified Tiny Habits Coach with Stanford’s Behavior Design Lab, and a facilitator for Stanford Business School’s popular Interpersonal Dynamics course. She is also an ex-McKinsey consultant, business operator, marketing strategist, and investment banker with years of strategy consulting experience with Fortune 500 executives in Asia and the USA. She holds an MBA from Stanford and a BSc from the London School of Economics.
Agnès Le is an executive coach with a focus on emotional intelligence with 20 years of experience in talent development, a multicultural background, and an MBA from Stanford. She's a leadership coach in the Executive Education and MSx programs at Stanford business school, and a group facilitator for the school’s most popular elective, Interpersonal Dynamics, also known as Touchy Feely. She is also an instructor at Stanford Continuing Studies where she teaches the class “Building a Career of Meaning and Impact.”
Key points include:
- 10:54: The challenges of practicing empathy
- 15:22: Three hacks based on our research and experience
- 25:53: Unpacking status
- 44:38: Understanding the market
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Shane Heywood on Go-to-Market Strategy
Shane Heywood is a Bain-trained consultant with 10+ years experience in Marketing, Sales, Operations and Strategy across a variety of industries. He has on the ground experience in 13 countries and currently works in private sector Emerging Market strategy. Shane is passionate about building businesses, delivering impact and helping organisations grow, and in today’s episode, he talks about his practice and processes. Shane can be contacted through LinkedIn, and you can learn more about his company at PortlandVenturesInc.com.
Key points include:
- 05:44: Steps an organisation can take to make sponsorship happen
- 10:42: Sponsorship and mentorship for independent professionals
- 16:25: What’s included in a go-to-market project
- 18:38: A case example from a Sub-Saharan market
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Phillip Morgan has helped thousands of consultants use specialization to find a beachhead that leads to greater visibility, profitability, expertise, and success. He has recently published his book, The Positioning Manual for Indie Consultants, and in today’s episode, he talks about his expertise incubator, his book, and setting up a thought leadership program. You can learn more from Phillip’s book, and the 10-part email course.
Key points include:
- 03:01: Examples of small scale research
- 06:52: Examples of projects in the program
- 13:02: The platformer advantage
- 21:51: Earning visibility without a platform
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
McKinsey alum with an MBA from Harvard Business School, Nidhi Chadda has 20+ years of experience as an investment banker, strategic consultant, and investor. She is the Founder and CEO of Enzo Advisors, a global sustainability consulting firm focused on helping companies build best-in-class sustainable business models within an ESG construct. In today’s episode, she talks about ESG in business. You can reach out to Nidhi on LinkedIn or visit her website EnzoAdvisors.com.
Key points include:
- 02:12: ESG and investing in asset management
- 08:20: The Sustainability Accounting Standards Board (SASB) factor
- 11:19: ESG and value creation
- 20:32: Trends in ESG
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Founder of Aminad Consulting, Lido Ramadan has over 25 years of experience in founding, growing, leading, and sustaining services organizations. Prior to establishing Aminad, Lido founded multiple successful small businesses and led the operations of several rapidly growing consulting firms. In today’s episode he talks about serving the federal government. To find out more about Lido’s firm or to contact him directly, visit LinkedIn or AminadConsulting.com.
Key points include:
- 05:17:Consulting analysis unique to the government
- 09:54: Surprising insights from interviews
- 13:55: An effective strategy
- 20:11: Projects for the SEC
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Alexei Leonard is a Partner at Golenblock, Eisman, Assor Bell, and Pescoe where he leads the firm’s labor and employment practice. His practice spans nearly all employment counseling and litigation matters affecting employers today. In today’s episode, he talks about the legalities involved with hiring and retaining an employee. To learn more about Alexei’s services, visit www.golenblock.com or email him at Alexander@Golenblock.com.
Key points include:
02:00: Key considerations
13:19: Payroll providers
19:06: Background checks
34:09: Non-disclosure agreements
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Erik Lautier is an expert in ecommerce, marketing, and digital strategy. After over two decades in roles dealing with ecommerce and marketing for brands like Lacoste, Bebe, and Francesca’s, he founded Erik & Co, an ecommerce and marketing consultancy serving seven and eight-figure DTC brands, retailers, and/or their private equity owners. In today’s episode he shares his expertise in ecommerce. Learn more about Erik and his company at www.Erik.co.
Key points include:
07:17: The shift from theatre to ecommerce
10:14: The layers of an ecommerce assessment
12:38: Benchmarks and opportunities
18:26: The choke points in ecommerce
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Andrew is a former engagement manager at Mckinsey where he specialized in asset productivity and served a broad range of industries, including aerospace, automotive, consumer products and mining. He is now the lead consultant at Seay Associates, focusing on operations transformation and corporate strategy. In today’s episode, Andrew talks about how to use Smartsheet on a transformation project. To learn more about Andrew’s company, visit www.SeayAssociates.com.
Key points include:
09:41: Smartsheet for Google Users
21:21: The Smartsheet dashboard
29:56: Smartsheet vs Excel and Google Sheets
44:51: Licensing and sharing with clients
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Marshall has over twenty years of experience defining, managing, and growing the world’s best-known investing brands. He has been an executive committee leader and CMO for Fortune 250 businesses in North America and the Asia-Pacific region. In today’s episode, he talks about how the world of data is revolutionizing marketing, particularly for wealth and investment management firms. You can learn more about the work Marshall does at WellsFargo.com, or reach out to him on LinkedIn.
Key points include:
00:50: Data in terms of wealth Investment Management
08:39: Lead scoring in practice
20:10: Identifying poor leads
22:53: Identifying customer tiers
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Mike is an innovative and entrepreneurial Chief Information Officer (CIO) with over 30 years in executive leadership positions with global technology organizations across multiple industries, including retail, telecommunications, research, and energy. His vast range of experience includes building teams in cybersecurity, application development, cloud services, infrastructure, data centers, software as a service, and more. In today’s episode, Mike talks about strategic technology leadership. Learn more about Mike’s company at Stratus Key Advisors or reach out to Mike directly at mike@stratuskey.com.
Key points include:
05:26: Data in the utility industry
14:54: Security of information
21:30: How companies are monetizing energy usage data
24:54: Key areas of focus in the utility and energy industry
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Johannes Hoech is a C-level Silicon Valley executive who is experienced in "Growth Architecting”. He is an expert analyst and motivational leader with proven skills in general management, strategy, product management, and customer success. With 25+ years of experience leading technology startups through early stage, high growth, and turnaround phases, he has a strong understanding of the software entrepreneurs and consultants need to organize business operations. In today’s episode, he shares his knowledge of an affordable MarTech stack. You can access Johannes’ company blog, on Premonio.com, and the links to the tools discussed on the show are as follows:
patternai.co
goldcast.io
dux-soup
SalesHandy
Pipedrive
Dedupely
Crunchbase
LinkMatch
CrystalKnows
Sharetivity
Hootsuite
Paper.li
apollo.io
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Stan is a senior executive with deep expertise in digital and traditional media with a focus on food & beverage and hospitality-related businesses. As a food industry consultant, he has worked with a diverse range of global clients including Sony Pictures International; BBC Worldwide; and India Today Group. In today’s episode, he talks about his strategic consulting service in the entertainment and media space, food and hospitality, and the intersection of the two. You can reach out to Stan at ssagner@gmail.com.
Key points include:
05:52: Types of projects
10:53: Menu insights - pricing and items
18:27: Working with developers
25:17: Room service issues
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Belinda Li was a senior advisor at McKinsey before she founded CiTTA, a company that focuses on promoting and facilitating the growth of the social enterprise business model and economy. Belinda has a passion for combining the power of business with the promise of social impact, and in today’s show, she talks about how her company helps foster growth in that direction. Visit the website to learn more about CiTTA or reach out to Belinda on LinkedIn.
Key points include:
02:00: An overview of work with social enterprises
07:49: ROI to shareholders
17:41: A working example of a social enterprise
24:29: Consulting skills for social enterprises
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Sam Lee has held numerous prestigious positions: he was a consultant at the World Bank, the chief of staff, Executive Office Division at Goldman Sachs, and the head of business planning and operations at AOL. He is now the founder and CEO at IndeCollective, a company that offers expert guidance to the most seasoned professionals, and that is what he is going to talk about on today’s episode. You can learn more about the program at IndeCollective.co.
Key points include:
02:45: What IndeCollective offers members
04:36: The 10-week experience
21:30: Authentic ways to stay top-of-mind
31:18: Sales conversations
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Josh Spector is the founder of the For The Interested newsletter; a weekly newsletter featuring ideas “to help you learn, do, and become.” He is also an audience growth strategist and a digital marketing consultant. But in this episode, he shares his expertise on newsletters. To sign up for Josh’s newsletter visit, https://fortheinterested.com/, and to learn more about Josh’s newsletter tips visit, https://joshspector.com/.
Key points include:
03:51: Newsletters created
06:40: Josh’s consulting strategy
12:46: Newsletter tips on technology, design, sign-ups, and frequency
40:27: Curating content
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Will Bachman hosts a panel discussion on hiring your first associate. The panel includes top-tier consultants J. Andrew McKee, David Burnie of The Burnie Group, and Belinda Li.
Key points include:
04:32: Deciding to hire your first employee
07:45: The pros and cons of having employees
11:20: The right time to add additional employees
17:17: Recruiting through LinkedIn
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Jen Rudd, PMP is a Business Coach, Consultant, and a Cross-Platform Automation expert with an extensive background in creating systems and automation for a variety of business types. She is the CEO of Grow With Jen, an author, and has presented at numerous conferences and events, most recently at the Airtable User's Conference, which she talks about in this episode. To learn more about Jen’s company visit GrowWithJen.com.
Key points include:
02:19: A case study on how Airtable works
10:26: Applications of Airtable
15:23: Different use cases for Airtable
17:49: Programming skill requirements
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Joe has been a successful start-up CEO and operating executive at high-growth tech companies. He was named Entrepreneur of the Year in 2012 by Crain's New York Business and was #9 on Business Insider's 2013 "Silicon Alley 100" list. Joe is the Founder & CEO of ExecThread, a VC-backed crowdsourcing platform and premium job-sharing network that enables professionals to access the “hidden job market”. ExecThread is the largest global aggregator of unpublished executive-level job opportunities, and this is what he talks about in today’s episode. You can learn more about Execthread at www.ExecThread.com.
Key points include:
- 02:15: How ExecThread works
- 09:18: The ExecThread vetting process
- 14:49: Advice to people looking for executive roles
- 20:44: Advice for employers
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Gaurav was a consultant with McKinsey and a leader in their Organization Practice in North America. Before McKinsey, he worked in marketing for Pepsi Cola International and Procter & Gamble in Europe, the Middle East, and India, and he has counselled and coached hundreds of senior leaders as they lead their organizations through transformation, with a special focus on coaching them on personal mastery, difficult conversations, and strategic thinking.
Mark is an engineer by training, he began his career as a Navy officer and member of the US Naval Construction Battalion. He is also a McKinsey alum and has worked across multiple industries, including financial services, high tech, biotech manufacturing, IT services, and governmental offices. Read more about their book at https://unfearbook.com/.
Key points include:
- 05:24: Gaurav’s work in cultural transformation
- 08:32: The art and science of achieving standing breakthrough results
- 13:27: Identifying and moving through fear
- 26:16: Freeing the angel in the stone
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Kay Formanek is a global speaker on Diversity and Inclusion. Kay has also worked for leading global professional services organizations for over 20 years as Partner and Managing Director. Her proven approach to leading diversity strategically draws on extensive research and advisory work with over 50 organizations; she is now an author, and her book, Beyond DNI: leading diversity with purpose and inclusiveness, is coming out this month. In today’s episode, Kay talks about the benefits of diversity and inclusion.
For more information, you can visit Kay’s website at beyonddiversityandinclusion.com
Key points include:
01:14: Kay’s background, and the inspiration behind her book
06:24: How she helps CEOs reach their aspired level of diversity
11:25: The dimensions of diversity
15:19: Implementing diversity initiatives
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Adam Anderson is a graduate of Stanford Business School, a McKinsey alum, and he is now a strategy consultant and project manager. He has led and participated in over one hundred projects for clients from startups to multinationals, and in this episode, he shares case studies on driving bottom-line results. Adam can be reached through his LinkedIn profile, or emailed at aanderson@pa-bs.com.
Key points include:
00:47: A case study on Lotek, chemical manufacturer: 20 production facilities, five countries
09:59: A case study on a small business in healthcare
20:22: Creating a competitive advantage in healthcare
25:38: Health clinics and the customer experience
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
David Edelman spent 30 years as a Chief Marketing Officer (at Aetna/CVS), and consultant to executives on Digital and Marketing Transformation with McKinsey, Digitas, and the Boston Consulting Group. He is now a senior lecturer at Harvard Business School and serves as an advisor to top executives in start-up, Private Equity, and larger enterprises. In today’s episode, David talks about the use of AI in marketing. You can reach David through his LinkedIn profile or email him at dedelman@hbs.edu.
Key points include:
03:44: The different aspects of marketing
08:38: How AI can be used in marketing
15:50: The prerequisites a company needs to employ AI
21:16: Measuring the ROI on AI-driven tools
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Michael Katz is the author of four books, an award-winning humorist, and the founder of Blue Penguin, a company that helps professional service firms and solos talk and write about their work in a clear and compelling way. He has an MBA from Boston University and a BA in Psychology from McGill University in Montreal. In today’s episode, Michael talks about how he helps his clients. Learn more about Michael’s business at www.bluepenguindevelopment.com.
Key points include:
02:15: Business newsletter best practices
13:41: Results that can be achieved through a newsletter
15:27: Building an email list
18:46: Newsletter management software comparison
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Sven Beiker has a PhD. in Mechanical Engineering and Vehicle Dynamics; he is a technology expert in the field of automotive and high-tech topics with a strong interest in consumer products with a holistic view regarding the impact on the environment, society, business, and policy. His special focus is in autonomous, connected, electric, shared vehicles, which is what we explore in this episode. You can learn more about ACES at www.siliconvalleymobility.com, or reach out to Sven on LinkedIn.
Key points include:
12:47: The issue of charging electric vehicles
18:33: Electric vehicle charging infrastructure
23:52: Shared mobility
26:54: Micro mobility
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Peter Costa is the founder and leader of Capman LLC, a company that provides Executive Coaching and Organizational Consulting. Peter draws on his experience leading public and private international businesses, in addition to extensive study and training in coaching, leadership, and organizational effectiveness. In today’s episode, he talks about his business’ best practices. You can listen to Peter’s Leading Excellence podcast on
Spotify or Apple, learn more about his company at www.capmanllc.com, or email him at peter.costa@capmanllc.com.
Key points include:
02:05: Coaching executives and rising talent
06:07: Exercises to change behaviors
12:54: The best leadership development programs
19:12: Building the client list and developing the practice
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Melisa is a former corporate tech executive turned management consultant and coach. She built and led a global professional services organization for a SaaS startup, before establishing her own coaching business where she helps consulting business owners increase their revenue.
In today’s episode, she talks about identifying potential clients, pursuing leads, and the Independent Consultant’s Toolkit.
You can learn more about Melisa’s services from her website, www.melisaliberman.com, tune in to her podcast at www.melisaliberman/podcast, check out The Independent Consultant’s (IC) Toolkit, and connect with her on LinkedIn.
Key points include:
05.59: Marketing content headlines
10:22: How Melisa works with her clients
16:48: Aligning business methods
21:32: Ways to stay top of mind
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Michael is a McKinsey alum and executive coach. He is a former Green Beret, where he was a team medic, serving in Afghanistan. In this episode, Michael he talks about his transition from military service to McKinsey, how he healed from trauma, and how that shaped his coaching practice. To learn more about Michael’s coaching practice visit www.wsdmcoaching.com or connect through LinkedIn.
Key points include:
04:10: His experiences as a Green Beret
07:20: The transition to coaching and managing PTSD
10:38: His experience with psychedelics
18:39: Finding his purpose through the healing
20:31: Michael’s clients and how he serves them
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Vijay is a former digital and technology leader at KKR leader and a founding member of McKinsey Digital Labs in South East Asia. He is a highly accomplished expert consultant and Interim Chief Information Officer, and he currently serves Fortune 500 enterprises and companies invested in by the PEI 300. In this episode, he talks about a case example that illustrates the Agile methodology play in real life. Vijay can be reached through LinkedIn or Umbrex.
Key points include:
03:08: Case example: a legacy bank in S.E. Asia going digital
08:48: Getting people to participate in hackathons
18:15: The concept of the sprint delivery cycle
22:38: The Agile process from having the business and making it a working product
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
David A. Fields is the co-founder of Ascendant Consulting and is the author of the #1 most recommended book on Amazon.com for consultants interested in building a practice, The Irresistible Consultant’s Guide to Winning Clients, and the Executive’s Guide to Consultants. David is well-known throughout North America for his expertise in the consulting arena, and in today’s episode, he shares valuable insights and advice on planning strategies.
Key points include:
02:47: Planning 90 minutes each week for eight weeks
08:08: Focusing on data and lessons learned
11:32: Revisiting your mission, vision, and values
31:27: Budgets and resources
To learn more about the 8-week planning process, visit 8 Weeks to Get Juiced. To learn more about the focus wheel, visit Use This Unique Tool to Focus Your Consulting Firm, and to subscribe to David’s weekly articles where you will find a plethora of valuable insights, visit www.davidafields.com/blog.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Pankaj is an entrepreneur, SaaS Executive, investor, and the creator of Bord, a collaborative workspace, designed by a management consultant for management consultants, where teams can brainstorm, problem-solve, and storyboard. He began his career writing code for consumer electronics, before moving on to work at Herman Miller and McKinsey where he developed capabilities in design thinking and analytical problem-solving. He holds a Bachelor of Engineering, a Master of Science in Manufacturing Systems Engineering, and an MBA in Marketing and Finance. In this episode, he walks viewers through the capabilities of Bord. Access the free version at www.bord.com, and you can reach out to Pankaj@bord.com.
Key points include:
- 01:41: Collaborating on Bord
- 04:36: The different capabilities of Bord compared to similar products
- 07:31: How to use the free model
- 08:15: A user demonstration of Bord
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Tony is the co-founder and managing director at InsurTechNY, an organization that helps startups, carriers/brokers, investors, and enablers in the New York region and beyond through hosting InsurTechNY community events, startup competitions, and accelerator. He is a BCG Alum, and his background includes product leadership at Alibaba, Gartner & NBC, an MBA from NYU Stern MBA, and a Bachelor of Sciences from Carnegie Mellon. In this episode, Tony talks about his business model. Learn more about the organization at www.insurtechny.com.
Key points include:
- 00:53: What InsurTechNY is and who it serves
- 13:57: Embedded insurance plays
- 17:14: Blockchain in InsurTechNY
- 26:04: Setting up the first InsurTechNY event
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Maureen is the founder and managing partner at Acacia Growth & Impact Consulting. She brings 15 years of product management, marketing, and growth experience across the private, non-profit, and public sectors. Data, customer-centricity, and a focus on impact are at the core of the business. Today, she talks about the full range of services her company offers. If you’d like to learn more about Acacia Growth and Impact Consulting you can reach out to Maureen on LinkedIn and watch out for the launch of her website, www.acaciaimpact.com, or get on the email list at https://sunny-v2.netlify.app/.
To learn more about topics discussed in today’s episode, visit https://nexleaf.org/ and/or
Key points include:
03:01: Case studies on product development and product management
06:29: The role of the product manager
15:39: How to gain user insights
23:00: Helping to build a design or product design organization.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
James Richardson is the founder of Premium Growth Solutions, a strategic planning consultancy for early-stage consumer packaged goods brands. As a professionally trained cultural anthropologist turned business strategist, he has helped nearly 100 CPG brands with their strategic planning, including brands owned by Coca-Cola Venturing and emerging brands, The Hershey Company, General Mills, and Frito-Lay, Once Upon a Farm, Dr. Squatch Soap, and more. James is the author of Ramping Your Brand: How to Ride the Killer CPG Growth Curve, a #1 Best-seller in business consulting on Amazon. He also hosts his podcast—Startup Confidential. In this episode, he talks about his transition from anthropology to marketing and how they connect.
Learn more about his services at www.premiumgrowthsolutions.com.
Key points include:
- 01:56: The connection between anthropology and marketing
- 08:58: How anthropological research tactics are applied to marketing
- 18:08: New symbols and how a marginal product is processed to be accepted by social groups
- 25:20: The difference between growth pace and the pace to scale
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Jay Altizer has worked at Bain and Company, PepsiCo, PricewaterhouseCoopers, and Deloitte Consulting. His extensive experience includes driving transformations and high-stakes change in a variety of industries such as CPG/FMCG, manufacturing, distribution, airlines, technology, and B2B products/services, but in this episode, he shares his knowledge and experience of the food industry. To learn more about Jay’s firm visit https://www.fallingbranchadvisorsllc.com/, and he can be reached at jay.altizer@fallingbranchadvisorsllc.com.
Key points include:
01:49: The multiple roles in the value chain
10:40: The different types of companies in mid-market food space
13:00: Issues facing food companies in the $20-500 million range
18:39: Trade spending and discounting in the food industry
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Craig Beal grew up in the safari planning business. His parents were the owners/operators of Travel Beyond, a company that planned luxury safaris in Africa. After attending the US Naval Academy and serving as a US Navy Submarine Officer, Craig and his wife Kay purchased Travel Beyond in 2005. In this episode, he talks about getting into the travel business. To learn more about Craig’s business, visit travelbeyond.com.
Key points include:
05:12: What the upscale Safari tour operator offers
09:36: His business and marketing approach
24:25: The $50,000 clients
25:50: What people do on a nine-day safari
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Rob Ristagno is a Harvard and McKinsey alum, he has shared expertise on digital media and e-commerce with CBS, Forbes, Adweek, and Fox. He is now the CEO of Sterling Woods where Rob and his team developed a data-enabled service, Scout X, that has created over $500 million in Enterprise Value for middle-market clients. Learn more about Rob’s company at sterlingwoods.com.
00:43: Five common flaws in customer segmentation
12:39: The process of B2B segementation
15:53: The three main categories of customer behavior
29:04: Developing the survey
36:13: Building the segments
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Paul spent ~9 years with McKinsey & Company, where he was a Partner based in Washington D.C. Within the firm’s Global Public and Social Sector Practice, Paul led the Go to Market (GTM) team, which spanned 23 countries.
Prior to McKinsey, Paul held roles General Dynamics Information Technology, Johnson & Johnson, Ariba (now part of SAP) and Andersen Consulting (now Accenture), and is a former U.S. Army officer. Paul has particular expertise in Public Sector Go to Market strategy and operating models, as both an advisor and practitioner. You can visit Paul’s company website at pathfinderconsultingllc.com, and he can be reached at paul.harrington@pathfinderconsultingllc.com
Key points include:
03:18: Doing business development in the public sector
09:41: How the decision process works
14:04: RFPs and the procurement process
21:17: Work from the federal government for independent professionals
28:20: Paul’s work as an advisor on procuring government contracts
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Sharath Jeevan is a leading global motivation expert helping organisations and individuals reignite inner-drive. Sharath has addressed large global audiences at the Royal Festival Hall in London, Lego Ideas Festival in Denmark, WISE Summit in Qatar, Draper Richards Kaplan Convening in San Francisco, Varkey GEMS Conference in Dubai, and the Lemann Conference in Sao Paulo. He is also the author of Intrinsic: a manifesto to reignite our inner drive. In this episode, he talks about his book and some common misconceptions he has encountered in the business world. You can learn more about Sharath and his book at https://www.intrinsic-labs.com/.
Key points include:
03:56: Purpose, autonomy, and mastery
11:27: A framework for purpose
18:47: Motivation tips for parents
23:57: Intrinsic relationships
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
John has 25 years of consulting experience consulting in Manufacturing, Supply Chain Management, Sourcing, plant and business unit transformation, revenue enhancement, growth strategies and turnarounds. He has launched many multi-year corporate transformations which have delivered over $1.5 billion in annual value. He has advised senior executives and business unit leaders in a broad range of industries including oil and gas, chemicals, basic materials, industrials, automotive, engineered products and aerospace. John’s company website is Lionstutz.com and he can be reached at JohnVanLeeuwen@Lionstutz.com.
01:50: Terminology of the oil and gas industry
07:30: Drill holes and piping
10:14: How they keep the oil and gas moving
13:17: The ecosystem of the industry
20:15: Labor in the industry
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Andrew has over 15 years of experience in biotechnology, pharmaceuticals, diagnostics, and other healthcare sectors. His team specializes in growth strategy projects pertaining to cutting-edge medical technologies. Since 2012, his team has conducted over 100 projects for executives in the C suite, commercial franchises, corporate development, and R&D, and spanning nearly every therapeutic area undergoing innovation.
In this episode, he gives an in-depth view of the biotech industry. Andrew can be reached through LinkedIn or you can email him at Andrew@headlandstrategy.com. And you can listen to more from Andrew on Episode 355.
Key points include:
01:09: A quick explanation of biotech, agricultural biotech, and industrial biotech
08:09: The difference between pharma and biotech
12:28: Drugs that fall into the biotech category
18:45: Differences in delivery methodologies between small molecule and more complex molecules
24:31: The different roles and functions at biotech and pharma companies
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
On her podcast, Fearless Growth, Amanda Setili interviews Mitali Chopra, UK Coach of the Year for best client results. They talk about her business and also about the karma equation for World abundance and why giving is such an important part of living. She talks about the nonprofit that she founded to help kids learn entrepreneurship by playing games. Amanda’s podcast can be found here http://bitly.bz/G5cKA.
Key points include:
06:58: Overcoming fear
15:51: How company culture can hold a company back
23:32: Transitioning to other cultures
26:58: The importance of continuous growth
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Sam Saperstein has an MBA in Marketing and Strategy from Wharton, she is a McKinsey alum, and is now a managing director at JPMorgan Chase. In this episode, Sam talks about the Women on the Move program and how it helps women thrive professionally and start businesses. You can learn more about the program on the podcast, Women on the Move.
Key points include:
09:07: Resources for women who want to start a business
11:56: Gaps in financial health and financial education for women.
17:55: Encouraging the careers of women at JPMorgan Chase
22:27: Negotiation skills for women
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Belden Menkus was a senior engagement manager at McKinsey for six years and is the managing director at Menkus and Associates where they specialise in high-impact senior-level interventions that create new strategic value and growth opportunities using proven new approaches that engage head, heart and hands. In today’s episode, we talk about how he approaches developing and deploying a strategy with purpose and positive outcomes. Belden Menkus can be reached through his website at menkus.com.
Key points include:
05:11: Working with the Port of London Authority
07:46: Working with organisations to reach clarity of purpose
12:35: Pursuing the ideal
17:53: The impact clarity of purpose can have on an organisation.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Belden Menkus is the managing director at Menkus and Associates. He is also the host of the podcast the Purposeful Strategist, a podcast that shifts the conversation from what organisations should do to what they are doing to embrace their broader purpose and translate it into tangible action. On today’s episode, we listen to one of Belden’s podcasts where he interviews Robin Mortimer, the chief executive of organization in the London Port of Authority
Key points include:
06:52: What the Port Authority is and what they do
09:32: How the vision of the Thames and organisation is structured and functions
12:42: Where the Thames Vision is going
15:32: The strategy to manage the vision
21:16: How the hydrogen economy affects the Thames Vision
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
David A. Fields spent nine years in marketing for GlaxoSmithKline before jumping into consulting with a boutique firm, where he became partner. He then co-founded Ascendant Consulting and focused the practice on helping large corporations enter new markets. He is the author of two books on consulting, and on this episode, he shares expert tips for solo consultants, boutique firms, and small to medium businesses. David can be reached through LinkedIn or his website, https://www.davidafields.com.
Key points include:
06:24: Structuring the discovery discussion
15:14: Partners for consultants
18:35: Big challenges for solo consultants
31:43: The challenge of growth
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Tim Streeter spent 25 years working in consulting and human resources including global leadership roles in Talent Acquisition at Accenture and Whirlpool. As the former chief operating officer of talent acquisition at Accenture, where he was responsible for managing a recruiter headcount of 2500 people and delivering 100,000 new hires every year. He's also the author of the Contentment Commitment, which we will chat about in this episode.
Tim can be reached through his website, https://www.contentmentcommitment.com/, where you can also learn more about the book.
Key points include:
00:52: The personal history behind the book
03:19: The six dimensions of contentment
08:32: The commitments Tim made
20:10: Tim’s work with organisations
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Max Friberg is a McKinsey alum with an MSc in CEMS International Management who has founded the SaaS tool company Inex One with the goal to improve the exchange of expertise around the globe. Inex One is now used by leading investors and analysts.
You can learn more about Inex One at inex.one.
Key points include:
07:13: How Inex One improves the expert network process and experience
15:54: How the idea of Inex One was born
18:39: How the expert network is evolving
26:00: Who’s using Inex One
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Chad Oakley is the president and CEO of Charles Eris, which is one of the top executive search firms in the United States focused on recruiting management consultants. In this Q & A episode, he shares insights and answers questions that consultants have always wanted to ask about the job market.
Key points include:
09:37: The current state of the market for consultants
15:18: Areas that are in demand now and will increase in demand
21:49: Applying for a salaried position after working as an independent consultant
33:34: The best way to interact with retain search firms
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com
Sarah Locher is a Senior at Independence High School. She currently works as a Hollister Brand Agent and was chosen as one of forty employees from a national pool of 2,880 applicants. As a high school student, she conducted an impressive project on the future of Change Management. She talks about why she started the project and how she did it.
To learn more about Sarah’s project, connect with her on LinkedIn at https://www.linkedin.com/in/sarah-locher-a4579b1a6/, and to download her change management research results go to https://bit.ly/3yQLMaf.
Key points include:
00:46: The future change management consulting project
07:42: Recruiting participants for the project
12:43: Key takeaways from the research
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com
Kathryn Valentine is a McKinsey alum, author, speaker and founder of Worthmore Negotiations, a company that focuses on creating effective, research-based negotiation strategies for women, training women to use these strategies, and supporting them during the big negotiations of their career.
Learn more about Worthmore Negotiations at www.worthmorenegotiations.com or reach out to Kathryn on LinkedIn at linkedin.com/in/kval.
Key points include:
02:27: Why it benefits a company to teach women to negotiate
09:51: Communal negotiation and collaborative negotiation
18:38: The gold standard in negotiations
19:28: How Worth More developed
23:09: Key negotiation tips for women
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com
Bill Fotsch has a 20-year track record of improving company sales and profits in an array of industries. He holds a Bachelor of Science in Mechanical Engineering and an MBA from Harvard Business School, where he graduated as a Baker Scholar. He has co-authored several published articles and serves on the board of several companies that practice Open-Book Management. You can learn more about his company at https://openbookcoaching.com, or email Bill at Bill.Fotsch@openbookcoaching.com or reach out on LinkedIn at linkedin.com/in/billfotsch.
Key points include:
05:07: Where to start with open-book management
08:57: Examples of companies switching to open-book management
17:04: Big changes in operations
28:03: How Bill launched his writing career
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com
Ben Legg helps entrepreneurs reinvent themselves and society for the better. His career has included relieving the siege of Sarajevo in 1995, McKinsey strategy consultant, turning around Coca-Cola India and the COO of Google Europe. In this episode, he discusses his latest venture The Portfolio Collective.
You can learn more at https://portfolio-collective.com
Key points include:
01:00: Who can become a portfolio professional
04:48: How the Portfolio Creative developed
10:03: The benefits of joining the Portfolio Collective
20:32: Branding diverse skill sets and services cohesively
22:25: Entry requirements
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com
Mary Cummins has an MBA from the Wharton School and an MA with Honors in Electrical Engineering from Cambridge University. Her consulting career includes equity partnership at The Boston Consulting Group, and at Deloitte Consulting. Mary’s experience spans across traditionally siloed healthcare sectors and includes serving on the Board of the Visiting Nurse Service of New York (the largest non-profit home health agency in the US). On this episode, she talks about value-based care and the shift from volume to value in the healthcare system.
Key points include:
10:38: Transitioning to new models after the Affordable Care Act
16:00: How a hospital adapts to a value-based care system
21:09: Examples of how hospitals operate differently
23:44: How the pay structure affects the model
31:44: Current experiments in value-based care
Learn more about Mary’s company at www.certusadv.com and connect on www.linkedin.com/in/maryecummins
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Dr. Anders Corr is an alum of both Harvard and Yale. He led the Social Science Research and Analysis (SSRA) group in Afghanistan, which oversaw 600 Afghan contract employees on 44 survey projects, before founding Corr Analytics and the Journal of Political Risk in 2013. He is an author and a political risk consultant on national risk assessment focused on China. On this episode, he talks about his work as a political risk consultant.
Key points include:
- 03:39: An example of clients and projects undertaken
- 10:32: Initial information offered to corporate clients
- 16:12: Key factors that contribute to a negative view of China
- 21:51: Deliverables generated for clients
- 24:28: The Wisdom of Crowds approach to forecasting
Learn more about Anders’ firm at http://www.canalyt.com.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Robert Hardy has recently started an online coaching platform to help creatively inclined individuals promote their work. On today’s episode, he explains how his program works, why quality trumps quantity, and how to find your niche.
Key points include:
01:38: Why most marketing advice is wrong
06:27: The fragmentation of the Internet and niches
11:12: How the Ungated program helps people find their niche
13:54: Coffee and keyword roulette
24:41: Tactical niche marketing steps
Learn more about Ungated at https://ungated.media/, his filmmaking site at www.filmmakerfreedom.com, and check out his thoughts on what it means to be a citizen at www.citizenwithin.com.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Alex P. Bartholomaus is President and CEO of People Stretch Solutions, a Washington DC based management consulting firm specializing in revenue growth consulting and scaling organizations. He is a published author and professional speaker on the topic of OKRs, Sales Effectiveness, Elite Business Performance and Emotional Intelligence. On this episode, Alex talks about his company with a focus on growing sales.
Key points include:
08:43: The wine industry taxes and distribution chain
15:12: The business focus of objective and key results
18:00: Examples of OKRs and how they differ from goals
29:12: Different aspects of the management system
To learn more about Alex’s firm visit https://www.peoplestretch.com/ or message Alex on LinkedIn at http://www.linkedin.com/in/alexbartholomaus.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Jonas Altman is a speaker, writer, and entrepreneur who creates transformational learning experiences to elevate and grow leaders around the world. He has a Bachelor of Arts degree in philosophy and he has recently published the book, Shapers: Reinvent the way you work and change the future. On this episode, Jonas talks about his book, his work, the power of harnessing creative energy, and how it helps motivate his clients.
Key points include:
03:35: How the future of work may evolve
13:16: The need to expand the learning mindset
23:16: Coaching style and client types
27:10: Two case studies on achieving aspirational targets
You can learn more about Jonas at Jonas Altman.com, you can learn more about the work he does at social fabric.com, and find the book at shapers.life.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Susan Meier is a brand strategist and a Harvard-trained artist. She applies a creative mindset to the craft of strategy to develop a brand strategy and has worked with the world’s most beloved brands, from Pepsi to Lipton, M&Ms to Doritos. Her art is in private collections of Saatchi & Saatchi, the New York Stock Exchange, and Pfizer and has been exhibited at the American Museum of Natural History. In this episode, she talks about her latest side-hustle, www.workspace-studio.com.
Key points include:
02:13: How workspace was developed
05:28 The important elements that make a great workspace
12:41: How the space is a portrait of the person
17:56: The creative strategy of no-destination travel
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Tineke Keesmaat has over 15 years of consulting experience with McKinsey & Company, Accenture, and as the founder and CEO of TILTCO Inc. She has an MBA from the Richard Ivey School of Business at Western University with a subspecialty in Entrepreneurship and a B.A with Honours in Psychology from Queen's University. In this episode, she talks about the hybrid business playbook her company has published.
Key points include:
01:11: The process of developing the playbook
11:49: Developing a podcast series
17:30: The impact of the podcast
26:27: How companies can build a hybrid business
You can find out more about the playbook and Tineke’s business at www.tiltco.ca.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Amanda Wright has a Master of Business Administration in Finance and a Bachelor of Science in molecular biology. She is an experienced management consultant who provides business advisory services to her clients. Today, she talks about her program to help women from professional services firms make the leap to independent consulting.
Key points include:
02:07: The structure of the Take the Leap program
09:43: The importance of the company name
13:31: Building the right mindset for a successful business
17:59: Managing your money
25:00: Marketing the coaching program
You can learn more about the Take the Leap program at https://www.thewrightcompany.ca/taketheleap and sign up for Amanda’s weekly newsletter.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Nadine Sinclair has a doctorate in molecular biology, she was an Engagement Manager at McKinsey, and is now an independent consultant and advises companies on how to improve conditions for mental health for their employees. Today she talks about mental health in the workplace.
Key points include:
03:39: The cost of poor mental health to business
07:10: How poor mental health impacts performance
16:44: How companies can help build resilience in employees
21:13: Tackling negativity bias
28:33: Resilience training
38:45: How exercise in the morning helps performance
Learn more about Nadine’s company and take the test on your emotional health at mindmatters.pro
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
David A.Fields is a consulting firm expert and author. He has helped hundreds of boutique and solo consulting firms grow, increase margins, and create lucrative, lifestyle-friendly businesses. This episode is taken from a session that David A. Fields led for the Umbrex and Veritux communities on how to craft your fishing line.
Key points include:
06:06: The two-by-two grid
08:32: Solving precise problems
10:17: Mistakes in fishing lines
11:07: Generic problems, generic targets, conjunctions and comets
Sign up for David’s newsletter or order his book on www.DavidAFields.com.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Amanda Setili is president of the strategy consulting firm Setili & Associates, author of two books of strategy and growth, she is a McKinsey alum and an Umbrex member. On this episode, she shares expert tips on running a successful virtual event.
Key points include:
06:50: First steps in connecting
13:28: Pre-event preparation
27:22: Cold call panels
29:28: Breakout group exercise on a future event
Amanda can be reached through LinkedIn at https://www.linkedin.com/in/amandasetili/ or her website https://setili.com.
Nina Froriep is a video producer and visual storyteller. Her company enables business coaches to grow their business with consistent and easy-to-implement video marketing, and today she shares her expertise on video content marketing.
Key points include:
15:32: Finding a professional video editor
17:28: Tips of doing a video series
22:28: The impact of video posts
25:20: What converts
27:36: Equipment
31:56: Posting frequency
Nina can be contacted through LinkedIn at, https://www.linkedin.com/in/nina-froriep/, or followed on Twitter @NinaFroriep.
Amol Sarva is a backer, advisor, and mentor at 50+ companies; he has co-founded several startups, including Virgin Mobile USA, Peek, Halo Neuroscience, Knotable, Knotel, and he has developed and taught the course "Venturing to Change the World" at Columbia University. In this episode, he talks about content creation and communication with his network of around 5060 people and shares a few of his experiences in business.
Key points include:
05:43: The Knotel startup roller-coaster ride
10:36: Lessons learned building a business valued at $1.5 billion
22:39: How to get started in the entrepreneurial world
27:28: Advice on finding companies to get involved with
29:43: What’s going on in Amol’s lab
Amol can be contacted by email, which can be found on his websites. To access his address visit http://amolsarva.com or http://amol.sarva.co/.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
The Idea Suite is a boutique agency that unlocks the creative potential of people and businesses through innovation, and on this episode of Unleashed, Shelli Baltman and Fiona Stevenson discuss how their innovation agency helps big companies deal with the challenge of pandemic burnout.
Key points include:
03:51: What we mean by burnout
08:49: Managing motivation and energy
18:02: Monitoring and assessing team energy
29:27: Gratitude specificity
33:29: Dealing with self-improvement overwhelm
To banish burnout, visit www.energyforgrowth.com, you can also learn more about their business at https://theideasuite.com/ or connect with Shelli and Fiona through https://www.linkedin.com/company/theideasuite/.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Professor Zachary Schrag is a historian of the twentieth-century United States and a professor of history at George Mason University. His specialities are: history of technology, policy history, transportation history, urban history, and oral history. In this episode, we discuss what history means and his book, the Princeton guide to historical research.
Key points include:
01:40: History as the study of people
07:23: Internal contradictions
19:48: How a historian organises information
30:04: Recommendations for history students
37:26: History’s influence on politics
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Samuel Bachman is a film major in the 10th grade at Frank Sinatra High School of the Arts in Astoria, Queens. In this episode, he discusses the hugely popular podcast he co-created and produces, The Half-Blood Report, and the inspiration behind the podcast.
Key points include:
07:49: Authors interviewed on the podcast
11:57: Social media lessons learned on making a podcast
16:47: Preparing for an author interview
26:53: Skills learned from producing a podcast
32:03: Best practices for producing a successful podcast
You can check out the podcast through the website https://www.thehalfbloodreport.com, follow them on Twitter @halfreport and Instagram @TheHalfBloodReport and connect with the crew on https://www.linkedin.com/company/the-half-blood-report.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Rick Denton shares an episode from his podcast, CX Passport, a conversation with people about customer experience with a dash of travel. In this episode, he has a brilliant conversation with Sharon Boyd who is from the UK. She is the author of Customer Experience 2, and the CXO of MKL Innovation.
Key points include:
03:26: The power of gifting
08:34: The ten-pence CX celebration
13:07: The Valentine’s Day, greaseproof paper incident
17:31: The Disney approach to CX
21:42: CX in the airline industry
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
403. Rick Denton on Excellent Customer Service
Rick Denton has over a decade of experience in customer service and relations; he is now the managing principal at EX4CX, a company that helps companies increase revenue by listening to customers and creating great experiences for their customers. In this episode, Rick shares his expertise in this field and talks about his new podcast.
Rick can be contacted through linkedin.com/in/rickdenton or his company website http://www.ex4cx.com. You can also listen to his podcast at cxpassport.com.
Key points include:
04:52: Customer experience projects
11:02: The biggest tools used in customer service
14:19: The difference between customer experience and customer insights
22:23: “Holy smokes” case examples
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Jonathan Baillie Strong is a B2B podcast strategist and the founder of Spotlight Podcasting, a company that helps consulting firms and mission-driven companies build more authority and grow their businesses with podcasting. Today, he shares insights from the world of podcasting from pre-production to promotion.
You can learn more about Spotlight Podcasting at http://www.spotlightpodcasting.com/, and you can connect with John through linkedin.com/in/jonbstrong, or his personal website https://jonbstrong.com
Key points include:
00:29: Helping Tim Ferris launch his podcast
05:17: How podcasting has helped consultants connect with clients
09:23: The process of developing and launching a podcast
12:26: A podcast production checklist
20:41: The fee structure of a podcast production agency
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Rudra Chatterjee is a writer, and the chairman and managing director of Luxmi Tea. While he writes predominantly about politics and economics, he is also vastly knowledgeable about tea, and in this episode, he talks about various aspects of the tea industry, from growth to distribution.
Rudra can be contacted through https://www.linkedin.com/in/rudrachatterjee, and you can learn more about his company and buy tea at http://www.luxmigroup.in/ or makaibari.com
Key points include:
03:10: The birth of the tea industry in India
07:55: The tea plantation organisation
14:31: Increasing the long-term value of the plantation
20:11: The relationship between the owners and workers of the plantation
29:27: How to ensure a top-quality cup of tea
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.
Alec Hudnut is an alum of Harvard Business School and McKinsey. He is now a managing partner at Vici Partners, a firm of experienced professionals focused on helping clients improve execution and dramatically grow earnings, and in this episode, Alec discusses the work they do at Vici Partners.
You can connect with Alec on https://www.linkedin.com/in/alec-hudnut-8562071, or email him at ahudnut@vicipartners.com
Key points include:
02:30: The fee model at Vici Partners
05:52: The 100-day sprint surfacing phase.
12:26: The major categories of ideas
20:46: Tracking and managing ideas
27:44: Running the talent at Vici Partners
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Annie Scranton is the founder and president of Pace Public Relations; she has been a producer at the CBNC, an assistant booker at Fox News, a booking producer on Good Morning America with ABC News, and has a Masters in Public Relations. In this episode, Annie shares her experience and knowledge in public relations.
Annie can be reached through https://www.linkedin.com/in/anniescranton or her company website http://www.pacepublicrelations.com
Key points include:
10:00: Becoming a known expert
17:19: Tips on being picked up by a reporter
23:05: Objectives and process of working with a PR agency
32:22: ROI on working with a PR agency
36:03: How to find and select a PR agency
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Sam Gupta has nearly two decades of experience in commercializing technology solutions, building multi-million dollar technology practices, and managing large enterprise software programs to drive digital transformation initiatives. He is the principal consultant at ElevatIQ, Inc., and in this episode, he talks about manufacturing enterprise resource planning (ERP) systems.
Sam can be contacted at https://www.linkedin.com/in/samguptausa/ or the website https://www.elevatiq.com/
Key points include:
07:20: The key processes of ERP
16:16: Inflection points and the integration of ERP systems
24:50: The range of activities of Elevate IQ
27:29: Big name companies selling ERP software
29:06: The rip and replace process
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Neil Gardner a digital strategy consultant who helps clients to design and implement digital transformations, and he is the founder and principal of NMG Advisory. As an advisor to CIOs at regional banks, he helps move their teams from cost center to value creation center.
Neil can be reached through https://www.linkedin.com/in/neilmgardner/ or https://www.nmgadvisory.com/
Key points include:
00:35: What a CIO does and how much bank revenue it costs
04:17: Infrastructure operations organization
09:19: Data and architecture categories
12:53: How the IT department creates business value
25:54: IT organisation aligned with business strategy
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Jessica Lackey is an ACC Coach, a McKinsey alum with an MBA from Harvard MBA, and a Fortune 500 Operations Leader. In this episode, she talks about the mature integrated planning process and the nuts and bolts of the traditional SAP processes.
Jessica can be reached at linkedin.com/in/jessica-lackey or through her website https://www.jessicalackey.com/
Key points include:
01:47: A perspective on sales and operations planning (SNOP)
08:56: Common issues in the sales and operations planning process
16:05: AI, heuristics, and advanced planning systems
18:19: Case examples of the reconciliation process
25:22: Consulting opportunities in sales and operations planning
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Drew Kerr is the founder and president of Four Corners Communications, a company that provides pro-active strategic communications and coaching for digital media companies, high-growth startups, and consumer research firms. In this episode, he shares five key communication rules.
Drew can be reached at linkedin.com/in/drewkerr or his website www.four-corners.com.
Key points include:
03:52: The money line
10:58: Using a story
14:02: The power of the headline
19:20: Concise and active
23:39: How to be a good moderator
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Susan Drumm is an Umbrex member and the CEO Advisor, Leadership Coach, and founder of Meritage Leadership. She has graduate degrees from Harvard Law School, Carnegie Mellon, and an M.A. in Drama from London Academy of Music and Dramatic Art, and today she shares the first episode from her podcast, The Enlightened Executive.
You can find Susan’s podcast at http://EnlightenedExec.com.
Key points include:
06:50: Why focus is learned
10:31: The first step in focus training
13:47: The role of multitasking
18:41: An example of focusing in action
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Hung Nguyen is a McKinsey alum and a principal at OUTLAST Consulting, a purpose-driven professional development + strategy firm focused on fueling innovation and empowering diverse talent. Prior to OUTLAST, she headed the Digital Center of Expertise at BP, where she piloted user-centric ways to recruit, develop, and deploy talent. Today, she talks about diversity inclusion and strategies companies and individuals can use to improve inclusion awareness.
Hung can be contacted through her LinkedIn profile https://www.linkedin.com/in/misshungnguyen/ or reached through the Outlast LLC website.
Key points include:
03:47: Situations that involve professional development for diverse talent
09:05: Tactics used to deal with difficult situations
12:21: Responding without threatening
16:13: The structure of diversity training
24:19: Clients’ objectives in diversity training
34:30: The broader impact of diversity inclusion
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
John Jeffcock was a captain in the British Army; he is now an author, a consultant, and the CEO of Winmark, a world-leading C-suite network business that interviews and profiles Chief Executive Officers from across the global corporate landscape.
Key points include:
- 02:45: How Winmark helps members make connections
- 09:40: Networking during COVID
- 11:04: The big topics of discussion at networking events
- 15:14: How to make effective connections
- 24:40: How the selection of content is made
John can be contacted through the Winmark website or through LinkedIn.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Adam is a decorated combat veteran and a cybersecurity consultant who started his career with the U.S. military; he was part of the team working on the Global War on Terrorism before starting a private practice where he advises government agencies and the private sector. He is now the CEO of A.R. International Consulting, LLC and a national news on-air analyst.
Key points include:
02:53: Training with NATO and being deployed to Afghanistan
07:01: Getting set up as a federal contractor
10:25: Setting up an advisory board
16:14: Specific services for the private sector
26:15 Asset recovery
Adam can be reached through his website, adamroosevelt.com, or through LinkedIn. You can also follow him on Facebook, YouTube, and Instagram.
Braden is a startup entrepreneur, an action-oriented and strategic operator, and consultant with operational expertise in a broad range of experiences across crypto, hedge funds, software technology (SaaS), commercial real estate, management consulting, luxury retail, and more. In this episode, he discusses his purpose, working with Bridgewater and Knotel, and time management.
Key points include:
03:06: Braden’s operating value
08:29: The list of operating practices
10:18: Installing and eliminating habits
18:57: Time blocking and deep work
27:47: Texting vs. talking
29:54: Bridgewater and Knotel
Braden can be reached through his website, www.bradenww.com or through LinkedIn.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Spish Rurak is a McKinsey alum, the president of Rurak and Associates, and a noted advisor and consultant to consultants. Spish works with many consultants from top-tier firms based in the U.K. and has served as a career transition coach to several thousand management consultants. Today, he discusses the challenges of the remote job search and interview and how to overcome them.
Key points include:
02:05: The differences of the job search during the pandemic
09:41: Supply and demand channels
17:26: The advantage to the job seeker
22:52: Three channel recommendations for the job seeker
33:29: Outreach tips
44:47: Organisation tips
You can reach out to Spish on LinkedIn.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Steven Pressfield’s books have been hugely influential on my life and it was a real thrill to welcome him on the show.
Steve is the author of Gates of Fire and about a dozen other novels, mostly historical fiction set in the time of ancient Greece and Rome.
He’s also the author of the modern classic The War of Art: Break Through the Blocks and Win Your Inner Creative Battles.
Steve’s latest book is A Man at Arms, a fantastic deliver-the-message tale about a retired Roman legionnaire who has been ordered to intercept the messengers who are trying to deliver Paul’s letter to the Corinthians.
I liked this book so much that I’m giving away 25 copies to listeners of this show.
Get your copy here: http://bit.ly/GetAManAtArms
For more info about Steve, visit https://stevenpressfield.com/
Key points include:
09:56: What to do when the muse visits
15:16: Why Steven reads non-fiction.
16:17: Research for Steven’s books
22:25: Children developing creativity
26:11: Resistance is universal
27:53: How Steven recognises a professional
31:20: Thoughts on masculinity
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Marcia Nuffer has an M.B.A. from Harvard Business School and a B.S. in Mechanical Engineering. As McKinsey’s Chief Learning Officer, Marcia was responsible for building one of the most lauded global leadership development programs in the world. She has over 25 years of strategy and leadership development experience and runs her own company, BlueShor.
Key points include:
05:15: Roleplaying in training
12:35: The McKinsey Academy
17:57: The Senior Training program
20:38: Examples of exercises for senior partners
27:51: The work at Blueshor
45:07: The assessment Marcia developed
You can learn more about Marcia’s company on the website at www.blueshor.com, and you can reach out to Marcia through email at marcia@blueshor.com.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Aneta Key is an independent consultant who has established her own firm, Aedea Partners, where she helps organizations design rollout and usher programs like digital transformation, or strategy rollout, or change management, and culture change. She also designs and facilitates decision-making offsites.
Aneta can be reached through her website, www.aedeapartners.com and she is active on social media.
Key points include:
03:27: Applying gamification to business scenarios
14:18: Capability building for consultants and consulting firms
18:39: The design and delivery of sessions
26:39: The topics covered by Aneta’s firm
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Sally Dominguez is a former architect, award-winning inventor, and author. She is a sustainable resilience expert and 10XInnovation Strategist. Today, she discusses her book, EPIC Resilience, and explains the strategies in the book for developing a personal resilience and growth mindset to not only survive but to thrive in constant change.
Key points include:
01:23: The Singularity University.
05:06: How to be resilient emotionally
07:56: Identifying values and purpose
11:15: The power of authenticity
20:10: The impact of sleep and sugar
24:16: Intellectual and creative growth
You can order Sally’s book, EPIC Resilience: Thriving through Chaos and Change, on Amazon, view the slim tank invention for water conservation, and visit her website at: http://www.sallydominguez.com/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Episode 383: Adam Braff on Forecasting
Adam Braff is a former McKinsey partner; he runs a data and analytics consulting firm called Braff & Co. where he advises investors, boards, and senior leadership teams on extracting maximum value from their investments in data and analytics. Today, we talk about forecasting.
Key points include:
02:17: What Adam learned from running a forecasting contest
07:04: The problem with overconfidence
10:42: What differentiates a good from a bad forecaster
16:23: Researching STEM topics to make a prediction
20:42: How forecasting has manifested in Adam’s advisory work.
30:16: Addressing how to get better at forecasting
You can learn more about forecasting and check out Adam’s masterclass at https://braff.co/advice.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
In today’s episode, I host a panel discussion with Jennifer Hartz, J. Andrew McKee, Jay Altizer, and Ashutosh Dalvi. They share insights, advice, and their own story on taking the leap from a comfortable salaried position to becoming an independent consultant.
Key points include:
01:13: The decision to become an independent consultant.
08:40: The positives and negatives of the transition
14:32: Advice to those making the transition
21:22: Cash flow and workflow
25:40: People who should not go independent
You can connect with members on the panel through LinkedIn.
https://www.linkedin.com/in/jehartz/
https://www.linkedin.com/in/andrewmckee/
https://www.linkedin.com/in/altizer/
https://www.linkedin.com/in/ashutoshbdalvi/
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
In this Episode of Unleashed, I chat with Surbhee Grover. Surbhee is the consultant who runs the firm Steel and Graffiti, she has also recently launched a personal care brand love,Indus.com; and today we discuss the whole process of creating a brand from product formulation to promotion.
Key points include:
05:58: Evolving past the concept
10:18: The market research journey
12:34: Product formulation
17:54: Dealing with intellectual property rights
20:57: Cost of development
32:34: Developing the brand identity
You can learn more about love,indus on the website, Instagram, or Facebook page, and you can connect with Surbhee on LinkedIn.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Stefan Kolle is the co-founder, Managing Director and Chairman of the Board of Futurelab, a company that helps businesses improve their marketplace through meaningful innovation in customer experience. On today’s show, Stefan shares a few case studies and we discuss customer centricity and customer experience.
Key points include:
02:19: Assessing the state of customer experience
05:18: Voice of the customer exercises
09:18: The changes Futurelab has helped companies make
20:23: The growth of Futurelab
You can connect with Stefan on LinkedIn and learn more about his company at www.futurelab.net.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
In this episode of Unleashed, I offer a few tips on how to use units strategically to emotionally engage your clients and avoid numerical overload.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
In this short 2-minute episode, I share a LinkedIn trick that you can use to show people how to pronounce your name.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
In today’s short episode, I share a few tips on sending connection requests on LinkedIn.
01:47: Reaching out cold
02:35: Avoiding becoming spam
04:15: After 200 requests
04:50: Customized notes on the LinkedIn App
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Ali Ahmed is the founder and principal of Green Strategies, a company that helps clients discover sustainability opportunities. He is a recognized sustainability and energy management leader who has developed and managed more than 50 global energy and sustainability programs. In today’s episode, we discuss carbon.
Key points include:
01:37: An overview of carbon credits
06:27: The companies buying carbon credits
09:02: Carbon credit audits
13:38: Carbon offset interpretations
21:42: How the soil captures carbon
30:04: Carbon accounting
37:46: The international market for carbon offset
Ali can be reached through his website at green_strategies.com or connect with him on LinkedIn.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Stacy Sifleet, an alum of A.T. Kearney, helps manufacturers, distributors and service-based companies improve their profit through targeted price strategy while providing customers with the services or products they want.
She is here with me today to explain how she implements and improves customer value strategies.
01:34: How customer value applies to the B2B realm
07:54: Defining groups of customers by profitability
11:39: Communicating the tier status to the customer
16:34: Maintaining service levels across tiers
21:29: How an annual performance review adds value to a client
You can email at stacy@pricingvelocity.com, visit her website, PricingVelocity.com, or reach out on LinkedIn.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Tami Lucey is an independent travel consultant, or as she describes herself, “a worldwide business travel hassle remover.”
We talk about her four decades of work as a corporate travel agent, how the industry has changed, and her focus on working with the entertainment industry and individual consultants.
02:06: The benefits of a personalized service
04:57: The limitations of Google search in booking travel
07:47: How Tami structures her fees
11:05: What’s included in Tami’s fees
15:12: What it means to join a host agency as an independent
21:17: Working with the entertainment industry
Tami can be reached through the website, Corporate Travel – The Travel Society Host Agency
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com
Lessons learned from collecting payment on over 1,500 invoices:
-
What to include in the contract
-
Questions to ask after the contract is signed
-
What to include on your invoice
-
How to follow up after sending your invoice
Unleashed is produced by Umbrex. To learn about our global community of independent management consultants, visit www.umbrex.com
You get an email with an article you want to read, but you don’t want to be distracted right then. The solution is a “read-later” app. The two most popular are Instapaper and Pocket.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com
There are a few reasons why you should check how your email name appears to others, and in this short in-between-isode, I explain how it should be done in G-Suite and Microsoft.
Key points include:
-The professional impression
-Search solutions
Check this link to Gmail and Microsoft for more information.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com
Divya Agarwal recently left McKinsey to become an independent consultant. At McKinsey Divya was an Associate Partner in Organization and Transformation.
“Transformation” is a bit of a buzzword that can be hard to pin down. In today’s discussion, Divya explains what McKinsey means by the term, the types of transformation projects, and how to set up a successful transformation office.
Key points include:
01:52: What McKinsey thinks of the term ‘transformation”
03:54: Most common types of transformation
08:14: Sanitized case examples of transformation projects
13:37: How to driving a broader transformation
19:01: Consolidating the learnings from focus group sessions
23:50: Capturing and using insights
Divya can be contacted on LinkedIn.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com.
Cactus Raazi is a former Managing Director at Goldman Sachs who has been a successful entrepreneur in credit trading.
He is also the author of the recently published book Price: Maximizing Customer Loyalty Through Personalized Pricing.
In today’s episode, Cactus shares his perspective on personalized pricing - and how he got his distinctive first name.
Key points include:
06:05: Researching his book
08:30: Examples of personalized pricing
13:03: The value of personalized pricing
17:41: Ideal businesses for personalized pricing
20:53: How to communicate personalized pricing to the consumer
24:31: Using algorithms to differentiate the customer base
You can contact Cactus through LinkedIn and order his book, Price: Maximizing Customer Loyalty Through Personalized Pricing, on Amazon.
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com
Nobel Prize winner Richard Feynman had a trick of always maintaining a list of his twelve favorite problems. Anything new he learned he tested whether it could be used on any of those twelve, and he attributed his success to this technique.
This episode gives a short overview of Feynman’s approach and how you can apply it.
I learned of this tip from Tiago Forte's course, Building a Second Brain.
Key points include:
Richard Feynman’s path to becoming a genius
The dormant state of ideas
Passive problem solving
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com
Robyn Bolton is a leading innovation consultant. A BCG alum, she was a partner at Innosight, a top innovation consulting firm that was founded by Clayton Christensen.
She has been an independent consultant focused on innovation since 2018. You can reach out to Robyn or follow her thought leadership blog on her website at milezero.io.
Key points include:
01.03 How innovation differs from R&D
04.16 An example of innovation consulting for a sporting goods manufacturer’s business model
08.54 The diagnostic of the current state of innovation within the company
11.53 Categorizing each project on dimensions
16.56 Getting the project off the ground
25.32 Innovation that gets results
32.00 Venture teams as a strategy
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com
Kyle Sturgeon, an alum of Alvarez & Marsal and McKinsey, is a Managing Partner and Co-Founder of MERU.
He has led complex transformations and restructurings for companies across industries, with a focus in retail and consumer, healthcare, and materials.
Today we discuss what’s involved with guiding a company through bankruptcy or restructuring. To find out more about Kyle’s company visit: wearemeru.com.
Key points include:
00:58: The birth of Meru
04:32: Shutting down a $200,000 company
10:22: How to sell off inventory
17:06: How Kyle’s business model works
21:34: A restructuring project
22:47: The Tough Mudder case study
31:52: Orientation towards cash
41:30: The growth of Meru
Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at: www.umbrex.com
In today’s weekend edition of Unleashed, I share a list of 20-25 questions that David A. Fields and I usually ask our clients during the initial conversation to help engage the client and secure the project.
Key points include:
- Focusing on the client’s needs
- Understanding the scope of the project
- Understanding the client’s expected outcomes
- Insight into the internal team and the stakeholders involved
As independent consultants, we often look for ways on how to grow our business. In today’s episode, you’ll find a round up of 21 business development ideas that can help build your business this year. You’ll also find all the relevant links to Unleashed episodes where we explore these items in more detail.
- Create a portfolio of sanitized work (Episode 121)
- Create a project list (Episode 140)
- Update your LinkedIn profile (Episode 211)
- Set up a CRM system (Episode 172)
- Make outbound calls (Episode 170)
- Email a past client (“Would love to hear about your plans for the year”)
- Reach out to clients where you LOST a proposal, just to check in
- Update your resume (Episode 253)
- Ditch the yahoo, Gmail, AOL and get a professional email address
- Start a podcast and invite potential clients as guests (Episode 10)
- Comment on LinkedIn posts by potential clients
- Post 3-5 times per week on LinkedIn on the topic you want to be known for (Episode 235)
- Organize a virtual event
- Create, or update, your website (Episode 59)
- Create a course teaching some skill that a potential client might be looking for* (“How to organize an Integration Management Office”)
- Update your email signature to include your phone number (on the computer AND phone)
- Create – or refine – your Fishing Line (Episode 1)
- Ask past clients for feedback
- Build relationships with other independent consultants serving your niche
- Read The Irresistible Consultant’s Guide to Winning Clients by David A. Fields
- Contact me at and sign up for weekly podcasts: unleashed@umbrex.com
In this week’s episode, I talk to Tekla Back, McKinsey alum, former senior vice president of strategy at PepsiCo., and founder of the snack, Keho. Tekla reveals how she got into nutrition, the truth behind the nutritional labels, and how she developed the Keho snack bar. You can learn more about Tekla’s campaign on nutrition by emailing her at tekla@keho.life or visit her company website at keho.life.
Key points include:
- 03:51: The problem with nutritional labels
- 05:34: The math behind recommended daily amounts
- 09:47: What you should know about cholesterol
- 12:53: The missing information on sugar
- 19:03: The factors influencing the FDA
- 22:37: The process of certifying a nutritional label
- 23:44: The impact the FDA has on changing what we eat
While it's great to pursue excellence, there's a strong argument for getting bad at something.
--
Unleashed is produced by Umbrex. To learn about our global community of independent management consultants, visit www.umbrex.com
I was inspired to launch Umbrex after reading Seth Godin’s book, Tribes. So, I am delighted to talk to him today. In this episode, Seth discusses his career trajectory, his books, his daily practices, his view on content marketing, and why he made the decision to avoid social media. I’m also giving away 100 copies of Seth’s new book, The Practice.
To receive your free copy of The Practice while supplies last, fill in your name and address info on this form: http://bit.ly/ThePracticeGiveaway
Key points Include:
- 04:10: How Seth creates a library of his experiences
- 07:17: What success looks like to Seth
- 08:29: How Seth curates and decides what content to consume
- 12:09: Seth’s views on mentors and heroes
- 15:20: The key to Seth’s productivity
- 19:08: Seth’s views on social media
- 26:07: A key insight on creating and distributing content
- 30:54: The advice Seth would give our leadership on how to market mask wearing to people that don't want to?
Rudra’s family has been growing tea for over 100 years. They have tea estates in Darjeeling and Assam in India, and in Rwanda. They also manufacture handmade carpets and furniture. He is also an adjunct professor in International Management Institute in Calcutta, and writes for several publications on history and business.
Rudra can be reached through his website, RudraChatterjee.com. To find out more about his businesses, go to Luxmi Tea and Obeetee.com.
Key points include:
- 06:51: Top recommended books
- 07:57: Online events with top economists
- 11:45: ESG priorities in business
- 18:16: The elimination of child labor
- 21:49: Running the family business
- 27:17: Examples of consulting recommendations that did not work with personal business experience
- 31:07: The caste system
- 34:42: How the caste system frustrates progress or impedes Rudra as a business person
- 36:59: COVID in India
James Carbary is the founder, executive producer, and co-host of Sweet Fish Media, a company that produces podcasts for B2B brands. Today, he shares his expertise on creating, distributing, and getting the most mileage out of your podcast.
Key points include:
- 01:28: Tips on how to create a great B2B podcast
- 07:07: The naming philosophy of a podcast
- 10:33: Common mistakes people make when setting up a B2B podcast
- 14:37: How to make it a memorable experience for the guest
- 16:59: Sourcing freelancers to create micro videos
- 18:13: Turning the podcast into a blog post
- 23:54: Implementing keywords
- 30:24: The services Sweet Fish Media provides
- 35:48: A strategy to get more listeners
Check out James’ company Sweetfishmedia.com or connect to him through LinkedIn.
In this short episode of Unleashed, I share a process that I use in my consulting practice and have found to be hugely valuable for both myself and my clients.
Key points include:
- Creating categories of companies
- The power of the list
- Identifying the missing gems
In this short episode of Unleashed, I share a few valuable ideas taken from David A. Fields and his book, The Irresistible Consultants' Guide to Winning Clients, which I highly recommend, to help identify your core group.
Key points include:
- Creating a master list
- Segmenting groups
- Identifying the weak ties
Daryl Tulimieri is a McKinsey alum. He has been at Owens Corning, and GLG, where he helped create and grow a group. Darryl is currently an independent consultant and Umbrex member, and he advises on M&A. But today Daryl is sharing his experience in recruiting and building a team in different contexts. Daryl can be contacted at dtulimieri@ligeradvisors.com or through LinkedIn. You can visit his website at LigerAdvisors.com.
Key points include:
- 02:56: What it's like to participate in recruiting and how it's structured at a large consulting firm
- 06:23: Daryl’s role at Owens, Corning and what sort of team members he recruited and how it was a different story
- 10:15: An overview of strategic marketing
- 13:55: How to evaluate skill sets to identify the applicant who would be successful in a role
- 17:11: How to get the input to inform your decisions
- 19:04: Recruiting and building a team at GLG
- 25:29: The recruiting sales pitch
- 30:56: The time involved in recruiting
- 34:57: The work Daryl is doing today
In a weekly email to Unleashed subscribers in the fall of 2019, I asked, "What you are doing this fall to get better at what you do?" Umbrex member J. Andrew McKee sent me the following extraordinary response, and I asked him to be a guest on the show to discuss.
To learn more about Andrew's consulting practice (which we don't discuss), visit: HeadlandStrategy.com.
Here is Andrew's answer on what he is doing to get better at what he does:
New:
- Resumed saxophone practice 2-4 times a week, with a goal to resume performing in a narrow (muse-inspired) set of genres by 2021. I may also get a teacher if I can sustain through Q1 (9 months ongoing!)
- Hired a change coach with psychology and spiritual training to help me vision an inspiring growth trajectory for my consulting business while balancing writing and family priorities
- Teaching more private webinars and a university course (one 3-hour module) (me and my staff)
- Teaching more lunch and learns to our growing staff
- Doing Zoom hip hop dance classes with my daughters (Michael Peele!)
- Sending more emotionally vulnerable emails to my close guy friends about the ups and downs of life, and having more 1:1 phone calls where I stop beating around the bush
- Protecting occasional afternoons for 3-4 hour hikes with masks with longtime friends
- Calling my father more regularly (Q2 weeks)
- Resuming a meditation practice after I intentionally let it lapse on behalf of first protecting a full night of sleep, and now that our youngest child is out of diapers and I can manage 10-20 minutes per day.
- Planning to hire an HR consultant to help us build behaviors to learn new knowledge and skills into a broader sense of "performance review" than is typically done. I would also like to align this with peer-encouraged deliberate practice. We are also noodling on hiring an expert for certain skills (e.g., market research interviews), and having them work with us like a coach (pre- and post-game feedback).
- Added volunteer programs to mentor students at a historically black university, including mock interview practice, career advice, help with career connections, and so on.
Sustained:
- Writing literary fiction 2-3 hours per day
- Journaling daily about anything and everything ("Morning pages" in the spirit of Julia Cameron)
- No alcohol since 2013 (or other drugs)
- No caffeine since summer 2019 (except 1-2 cups decaf coffee or 1 cup of green tea)
- Intermitted fasting when I feel like it
- Protecting 7.5 to 8.0 hours of sleep per night, helped by reminders from my Oura Ring
- Protecting time for the family each day (AM and dinner time) and every weekend, including supporting them in music and sports
- Reading almost zero business books, which I find very low yield in general
- Reading widely and muse-inspired, drawing from a long list of books I'd love to read and reading them when I feel inspired, across nonfiction and fiction in a 1:1 mix
- Listening broadly to music that inspires and moves me
Philipp Humm is a storytelling coach who teaches how to apply the fundamentals of storytelling to sales, marketing, management and connecting with your business audience.
Philipp on LinkedIn or learn more from his website, power-of-storytelling.com
Key points include:
- 03:41: Why storytelling matters to consultants
- 06:03: What makes a compelling story
- 07:24: Six elements of story
- 13:33: Who approaches Andrew and how he helps them
- 15:27: Situations where storytelling can help
- 16:59: Tips on creating, preparing, and practicing storytelling
A common question independent consultants ask is what type of entity they should use to establish their practice.
In this episode, Jonah Gruda reviews the most relevant aspects of the five types of entities that are most commonly considered:
- Sole proprietorship
- Partnership
- Limited Liability Company
- S-Corporation
- C-Corporation
For each entity type, Jonah reviews:
- Formation requirements
- Liability Exposure
- Taxation at the entity level
- Tax rates
- Tax reporting
- Compensation
- Number of owners
- Self-employment tax
Jonah Gruda is a Tax Partner at Mazars and specializes in income taxation, executive compensation and stock option planning, estate and gift planning and wealth preservation.
Jonah can be contacted through Mazars or LinkedIn.
Download this a comparison of entity types that Jonah and I discuss on the show.
Key points include:
- 01:48: Introduction to the two broad categories of business entities
- 08:56: The three types of partnerships
- 12:33: Legal operating agreements
- 15:11: Overview of limited liability partnerships
- 18:06: Overview of a limited liability company
- 27:31: Electing to be taxed as a C corporation
- 29:55: S-corps and c-corps
- 43:27: Filing fees
Unleashed is produced by Umbrex. For independent consultants interested in joining our global community, visit www.umbrex.com
Contact the host, Will Bachman: unleashed@umbrex.com
After years of professional work experience, how do you leverage your knowledge and put it to good use? After a 30-year career as a global strategic business advisor, including 20-years combined as partner at Ernst & Young (EY) and A.T. Kearney, Jeffery Perry decided to found Lead Mandates where, as an independent advisor, he helps organizations improve business and leadership performance. Today, he shares how his experience helped him reach out, connect, and communicate when starting his independent consulting practice. Learn more about Jeffery’s company at www.LeadMandate.com . He can be reached through LinkedIn or connect through Twitter.
Key points include:
- 01:46: The strategic steps to building the practice with intention
- 05:28: The many reasons to serve on a board
- 09:06: Preparing for the career transition
- 11:48: Leveraging connections and reputation
- 15:59: Establishing a pipeline of opportunities
- 17:09 Joining the board of Fortune Brands
- 27:38: Establishing multi-dimensional purpose
- 34:45: A summary of Jeffery’s professional experience
Kian Beyzavi, a Venture Partner at Cota Capital, is a seasoned leader in the life sciences. After several years of consulting at McKinsey & Company, a couple of stints as a venture investor and a software entrepreneur, she worked in senior leadership positions at medical device and pharma companies for 10 years.
Her recent consulting work is mainly focused on innovation in life sciences, leveraging digital health, patient engagement, services, devices, and diagnostics. Kian holds a PhD in electrical engineering/applied physics from Princeton University, and she has worked Asia, the UK, Europe, and the Middle East.
Today she provides insight into the digital health industry, what it is, what it offers, where it’s going and how it is changing the interaction between patient, doctor, and health information. Kian can be contacted through LinkedIn.
Key points include:
- 02:02: How people interact with digital health through wearables
- 05:23: Technology to monitor neurodegenerative disease
- 10:19: The various categories of digital health
- 15:06: The main three drivers in digital health
- 22:57: How regulation is changing
- 24:26: Kian’s background
- 33:03: Investing in the digital health industry
Kian Beyzavi on LinkedIn: https://www.linkedin.com/in/kian-beyzavi-phd-36b1b5/
Unleashed is produced by Umbrex. To inquire about joining the Umbrex community of independent management consultants, visit www.umbrex.com
Unleashed is hosted by Will Bachman. Send Will an email at: unleashed@umbrex.com
Daniel Tunkelang, one of the top search relevance consultants in the United States. He is a data science and engineering executive who has built and led some of the strongest teams in the software industry, including Google. Daniel was a founding employee and chief scientist of Endeca, a search pioneer that Oracle acquired for $1.1B. He was also director of data science and engineering at LinkedIn, and he studied computer science and math at MIT and has a PhD in computer science from CMU. So when it comes to understanding how search engines work and search queries, Daniel knows what he’s talking about. Today, he shares insights on how search works and how to make it work for you.
You can read more about all things search on Daniel’s blogs at QueryUnderstanding.com, or, if you need expert consultation, reach out to him on LinkedIn.
Key points include:
- 04:08: How search engines match content to search queries
- 09:23: How big companies search functions differ from smaller companies
- 12:21: The search problems companies experience and solutions offered
- 21:18: The surprising measures companies have used when compiling search data
- 25:32: How Daniel approaches search data investigation
- 32:27: Understanding search for staffing situations
- 36:35: Behind the scenes of LinkedIn’s search function
- 44:31: How to conduct effective search queries
Richard Steel is an entrepreneur, investor, and the author of Elevated Economics, How Conscious Consumers will Fuel the Future of Business. He explains how corporations are moving forward with socially responsible business strategies to meet the demands of stakeholders, with a specific focus on environmental, social, and governance (ESG) issues.
Key Points Include:
- 0:40 - The tectonic shift in investing
- 02:52 - The total value of ESG assets
- 03:50 – The next generation of wealth migration
- 09:30 - Business Roundtable’s new statement of the purpose of a corporation.
- 13:33 - Corporations zero emissions goals
- 16:40 - The role ESG plays in the company
- 20:27 - How the conscious consumer finds ESG information
Unleashed is produced by Umbrex, the fastest way to find the right independent management consultant for your project. Learn more at www.umbrex.com
Mike Sarraille is a former Recon Marine and retired US Navy SEAL officer with twenty years of experience in Special Operations, including the elite Joint Special Operations Command. He is also the co-author of The Talent War: How Special Operations and Great Organizations Win on Talent.
Today, Mike Sarraille is the CEO and founder of of EF Overwatch, an executive search and talent advisory firm, and Talent War Group, a leadership and business management group.
In this episode Mike shares his perspective on how to identify and attract top talent.
Learn more about Mike's firm EF Overwatch:
https://www.efoverwatch.com/
Unleashed is produced by Umbrex, the fastest way to find the right independent management consultant for your project. Learn more at www.umbrex.com
Generally you probably prefer to get paid via ACH or wire transfer, but some clients want to pay using a credit card.
Today was my first time accepting a payment for consulting services by credit card, and in this episode I walk you through my experience.
I used Stripe to actually collect the payment.
To learn about how Umbrex can help connect you with other independent management consultants, visit www.umbrex.com
Have you ever asked someone to do a task, and they agree, only later to find that they didn't understand exactly what you were asking for?
In this short episode, I share how the Nuclear Navy uses formal communications to ensure that orders don't get garbled.
Unleashed is produced by Umbrex. To learn about how we can help your firm find the right independent management consultant for your project needs, visit www.umbrex.com
If you are setting up a podcast or blog, here are strategic questions to consider. Question 1 is discussed in Episode 344, and Questions 2-5 discussed in this episode.
-
What is my objective? (Covered in Episode 344)
-
Who is my target audience?
-
What content does that audience want?
-
What will be the format of my podcast or blog?
-
What should I name my podcast or blog?
If you are planning to create content on a regular basis, it is worth your time to get explicit - at least with yourself - on your objectives.
Are you trying to learn about a topic?
Build relationships?
Build an audience?
Unleashed is produced by Umbrex. To learn more about how Umbrex connects independent management consultants with one another, visit www.umbrex.com
After COVID started, Umbrex member Dr. Agnes Kunkel started the 2023 Podcast, interviewing experts for their take on what life will be like in the year 2023.
Check out all the episodes of the 2023 Podcast at:
https://20-23.earth/
Dr. Kunkel is an expert in negotiations. To learn about her consulting and training practice, visit: https://dr-kunkel.com/
Unleashed is produced by Umbrex. To learn more about how Umbrex can help your firm find the right independent management consultant, visit www.umbrex.com
Rob Lachenaur is the co-author of The Harvard Business Review Family Business Handbook: How to Build and Sustain a Successful, Enduring Enterprise (Amazon)
Rob is a former BCG Partner and the CEO of Banyan Global, a consulting firm focused on serving family-owned businesses. Learn more about Banyan Global at: https://banyan.global/
Unleashed is produced by Umbrex. To learn how Umbrex can connect you with the right independent management consultant for your project visit: www.umbrex.com
Tom Libelt runs Smart Brand Marketing, and one of their main services is helping creators to promote their online courses.
In this episode, Tom shares tips on how to create a marketing funnel to sell your course, and also shares advice on which platforms to use to create your course.
Learn more about Tom's firm at:
https://smartbrandmarketing.com/
Unleashed is produced by Umbrex. To learn more about how Umbrex can help your organization find the right independent management consultant for your projects, visit
www.umbrex.com
Helio Fred Garcia is a writer, speaker, educator, and consultant on the topic of crisis communications and crisis management.
Fred will be leading a live, interactive training session as part of the Umbrex Presents series, November 12, 11 a.m. - 12:30 p.m. EST.
Register free here:
https://us02web.zoom.us/meeting/register/tZEqf-qoqzkvGdVyug7Z8KScb8wDRIil51vc
After November 12, email unleashed@umbrex.com to get a link to a recording of the webinar.
Fred leads Logos Consulting Group. Learn more about his consulting firm here:
https://logosconsulting.net/
And follow Fred on Twitter:
https://twitter.com/garciahf
Unleashed is produced by Umbrex. Learn more about this global community of top-tier independent management consultants at:
https://www.umbrex.com/
Joe McCann is the CEO and Co-Founder of Slingshot Insights, a healthcare-focused research firm with an interesting model: they allow you to interview leading experts by splitting the cost with others.
Joe also runs Truth on Call, a firm that conducts custom surveys of physicians and other healthcare providers.
Learn more at:
https://slingshotinsights.com/
https://www.truthoncall.com/
Unleashed is produced by Umbrex. Learn more at:
www.umbrex.com
Mark Newsom is the Founder of Health Evaluations, LLC, which focuses on business strategy, operations, and policy in the government health programs space.
Mark brings a powerful set of experiences to his practice.
1) Executive branch: Mark has served two stints at the Centers for Medicare & Medicaid Services
2) Legislative branch: Mark worked in the Congressional Research Service, serving as a senior health policy advisor during the passage of the Affordable Care Act
3) Industry experience: Mark has held executive level public policy roles at CVS Health and Humana.
Follow up with Mark on LinkedIn here:
https://www.linkedin.com/in/markanewsom/
Unleashed is produced by Umbrex.
Learn more at: www.umbrex.com
Gresham Harkless Jr is the founder of Blue 16 Media, which provides website design, social media, SEO services for entrepreneurs, startups and business owners.
He's also the Founder of CEO Blog Nation and a podcast host.
Learn more about all of his ventures at:
https://iamgresh.com/
Unleashed is produced by Umbrex.
Learn more at: www.umbrex.com
Betsy Seals is a recognized leader in the managed care industry. She is the Co-Founder and Chief Operating Officer of Rebellis Group, where the members have decades of experience in health plan, pharmacy benefit manager, and goverment consulting experience.
In this episode, Betsy provides an overview of the managed care universe in the U.S.
Learn more about Rebellis Group at
https://www.rebellisgroup.com/
Unleashed is produced by Umbrex which connects top-tier independent professionals with one another. Learn more at
https://www.umbrex.com/
Dan Biederman was the driving force behind the redevelopment of Bryant Park in New York City and the creation of the 34th Street Partnership and Grand Central Partnership.
Millions of New York City residents and visitors have visited from his efforts to rethink the urban environment.
In this episode, Dan shares stories of what it took to make the Bryan Park Redevelopment a reality.
We also discuss the work that his firm does in other cities across the country.
To learn more about Dan's firm, visit:
https://www.brvcorp.com/
Unleashed is produced by Umbrex, which connects you with the world's top independent management consultants. To learn more, visit: https://www.umbrex.com/
Jason Sanders is the Managing Director of Flycast, which provides experienced talent to specialty consulting practices and top global firms.
To learn more about Flycast, visit:
http://www.flycastllc.com/
David Goldstein is the founder of Mekko Graphics, a plug-in to PowerPoint that gives you charting superpowers.
Mekko Graphics is a popular tool among many management consultants, particularly at Bain.
In this video episode, David shows the range of charts that Mekko can create and demonstrates how to use the tool.
To learn more visit: https://www.mekkographics.com/
Mekko Graphics was acquired by insightsoftware in 2020.
John Joseph is a Co-Founder of White Swan Automation, a firm that helps small and medium business implement robotic process automation.
Learn more at:
https://www.whiteswanautomation.com/
Unleashed is produced by Umbrex. To learn more visit
www.umbrex.com
Susan Harte has deep experience as a site selection consultant, helping companies choose where to place their next headquarters, contact center, distribution facility, or factory.
In this episode, Susan shares an insider's view of the site selection process.
Connect with Susan on LinkedIn at:
https://www.linkedin.com/in/susan-harte-esq-mcr-2002a04/
Unleashed is hosted by Will Bachman and produced by Umbrex. Learn more at www.umbrex.com
Robert Glazer has an incredible portfolio career:
- Founder and CEO of Acceleration Partners, a leading affiliate marketing agency
- Keynote speaker
- Best-selling author
Find out more at https://www.robertglazer.com/
In this episode we discuss Glazer's latest ways to build four areas of your capacity:
Spiritual Capacity, Physical Capacity, Intellectual Capacity, and Emotional Capacity.
Our discussion centers around his latest book:
Friday Forward: Inspiration & Motivation to End Your Week Stronger Than it Started
Check out my previous discussion with Glazer, Episode 262 of this show, in which we discussed his last book: Elevate: Push Beyond Your Limits and Unlock Success in Yourself and Others
Jeffrey Fidelman started as a solo consultant in 2015. He had more demand than he could handle, so he hired a couple freelancers, and then saw more demand, and engaged more support.
Fast forward to 2020, and Fidelman & Company has 30 employees.
Fidelman & Co. serves primarily lower-mid-market firms, i.e., those with revenues in the $1 - 100 million range.
In this episode, Jeffrey discusses three of his core service lines:
-
Outbound growth
-
Supporting fundraising
-
Documenting operating policies and procedures to support business continuity
Learn more about Jeffrey's firm at:
https://www.fidelmanco.com/
Follow up with Jeffrey directly at: jeffrey@fidelmanco.com
The Unleashed podcast is produced by Umbrex. Learn more at:
www.umbrex.com
Jeff Wald is the Founder of Work Market, an enterprise software platform that enables companies to efficiently and compliantly organize, manage, and pay freelancers (purchased by ADP).
Follow Jeff on Twitter: https://twitter.com/JeffreyWald
Jeff has founded several other technology companies including Spinback (eventually sold to Salesforce). He is an active angel investor and startup advisor, as well as serving on numerous public and private Boards of Directors. Jeff was a Managing Director at hedge fund Barington Capital and started his career at JP Morgan.
Jeff has an MBA from Harvard University and a MS and BS from Cornell University. Jeff is the author of The Birthday Rules and the upcoming book, The End of Jobs: The Rise of On-Demand Workers and Agile Corporations. Jeff was named “One of the 100 Most Influential People in Staffing” by the Staffing Industry Analysts in 2017 and 2018.
Deb Zahn is an experienced healthcare management consultant who coaches professionals interested in transitioning into consulting.
On her website she has a wealth of resources to help get started with your own consulting practice:
https://www.craftofconsulting.com/start-here
Also, check out Deb's podcast: Craft of Consulting
https://www.craftofconsulting.com/podcasts
Laura Gariepy left a corporate job and set up as a freelance writer. Within a year, her income as a freelance writer matched her former corporate salary.
Laura continues to work as a freelance writer and also serves as a coach to other writers seeking to make the leap to freelance.
Visit her site at:
https://www.everydaybythelake.com/
Melanie Espeland is a McKinsey alum, independent management consultant, voice actor, and executive voice coach.
In this episode, Melanie walks me through two sample voice exercises that she often uses when coaching executives - and you can follow along at home.
If you are listening to this episode before September 24, you can register for a free Umbrex-sponsored webinar Melanie is leading from 12-1 p.m. EST that day. Sign up here:
https://us02web.zoom.us/meeting/register/tZwocO-uqzgtGtY1meKqLMzVSV8f56unIJcs
If you miss the webinar, email us at unleashed@umbrex.com and we'll send you a link to a recording.
Definitely check out the website of Melanie's firm, where you can learn more about her voice coaching and hear her demo real, with clips from commercials she has done for the iPhone, Macy's, Claritin, Nob Creek, Lexus, and more.
https://www.espelandenterprises.com/executive-voice-coaching
Daniel Vasallo left a great job at Amazon in February 2019 with the idea of working independently.
He thought about building a product, but decided that he first ought to build an audience, so he set out to learn Twitter.
From a base of a couple hundred followers 18 months agao, @dvassallo now has over 44K followers.
He wrote a technical book on Amazon Web Services that generated over $100K in revenue. And then he created a guide on how to build a Twitter following, "Everyone Can Build a Twitter Audience," based on his own experience - that guide has also grossed over $100K.
After I spoke with Daniel I purchased his Twitter course and I recommend it. Purchase it on Gumroad here:
https://dvassallo.gumroad.com/
And do follow Daniel on Twitter at @dvassallo
Dan Daugherty is the Co-Founder and COO of Sounder.fm, a podcast platform for creators focused on growth and discovery.
In this episode, Dan describes the features of Sounder.fm, including FREE HOSTING for shows with under 20K streams per month.
Sounder provides in-stream audible search, soundbite audio share, basic transcriptions, and other tools not available with other podcast syndication tools.
Check them out at https://sounder.fm/
Lemon Williams is a cyber security and operational risk management professional with extensive multi-industry experience establishing sustainable cyber security programs for the public and private sector applying leading industry processes and regulatory standards including Sarbanes–Oxley Act (SOX), North American Electric Reliability Corporation Critical Infrastructure Protection (NERC CIP), Federal Information Security Management Act (FISMA) among others.
In this episode we discuss the book he recently published: How-To Write Quality Compliance Documentation: Policy and Setting the Tone for Controlling Process.
On Amazon here: https://www.amazon.com/dp/B08C96QRDH/ref=cm_sw_r_tw_dp_x_MMoaFbW785DAQ
Lemon is the Founder of The Ionado Group, and you can learn more about his work here:
https://www.ionadogroup.com/
Sarah Preisser spent twenty years at Accenture, twelve of those in talent strategy roles.
In 2019, Sarah founded Mindset Talent, which specializes in strengthening the organizational capacity and capabilities of business, public and non-profit organizations by igniting the power of their teams.
In this episode, Sarah shares lessons about talent management that are useful to any management consultant.
Learn more about Sarah's firm at:
https://www.mindsettalent.com/
Kit Lisle is a Partner at Acclaro Growth Partners, a research-based strategy consulting firm that serves private equity firms and their portfolio companies.
In this episode, Kit shares insights on conducting commercial due diligence projects.
Learn more about Acclaro Growth Partners at:
https://acclaropartners.com/
Jeff Gothelf is a leading expert on digital transformation an business agility. He is a keynote speaker, consultant, and the author of four books.
In today's episode we focus on his latest book, Forever Employable: How to Stop Looking For Work and Let Your Next Job Find You.
Learn more about Jeff's work and sign up for his newsletter at:
https://jeffgothelf.com/
Avy Punwasee is a Partner at Revenue Management Labs, which helps clients develop practical pricing solutions that deliver sustainable revenue and profit growth.
In this episode, Avy walks me through a detailed case study of a pricing project for an aftermarket auto parts manufacturer.
Learn more about Revenue Management Labs on their website:
https://revenueml.com/
Paddy Padmanabhan is the founder of Damo Consulting, which provides digital transformation advisory services to enable healthcare organizations navigate the technology-enabled transition to telehealth and virtual care.
Paddy is also the author of two books:
1) The Big Unlock: Harnessing Data and Growing Digital Health Businesses in a Value-Based Care Era
and
2) Healthcare Digital Transformation: How Consumerism, Technology and Pandemic are Accelerating the Future (HIMSS Book Series)
Learn more about Paddy's work at:
https://www.damoconsulting.net/
Dr. Diane Hamilton is the creator of the Curiosity Code Index, which helps you understand the things that might influence how much you embrace your natural curiosity.
In this episode we discuss Diane's work helping clients develop action plans to remove the roadblocks to curiosity at work.
Learn more about Diane's work at:
https://drdianehamilton.com/
Trond Arne Undheim is a futurist, speaker, entrepreneur and former director of MIT Startup Exchange, based outside of Boston. He has accelerated four unicorns and helped launch over 50 startups.
In this episode we discuss his latest book, the 450-page Pandemic Aftermath, which he wrote between February and April of this year.
Visit Trond's website:
https://trondundheim.com/
Check out his podcast, Futurized
https://trondundheim.com/podcast/
And buy Pandemic Aftermath on Amazon:
https://www.amazon.com/gp/product/B0894QJWW3/ref=dbs_a_def_rwt_bibl_vppi_i0
Bethel Desmond is the Founder of The Content Corp and former Chief Storytelling at IBM Global Business Services.
In this episode, she shares tips on how to use stories to engage customers.
Learn more about Bethel's work at:
https://www.thecontentcorp.org/
Hannah Berson is the Founder of SALT Collaboratory, a boutique consulting firm that relies heavily on the methods of design thinking.
In this video episode, Hannah provides a introduction to Mural, a digital workspace for collaboration.
Mural is a powerful tool and their collection of templates is an amazing set of frameworks worth studying.
Learn more about Hannah's work at:
https://www.saltcollaboratory.com/
Lee Frederiksen is the Managing Partner of Hinge, a branding and marketing firm that focuses on serving professional services firms.
In today's episode, Lee shares key insights from the High Growth Study 2020 conducted by Hinge, which includes results from 1,000 professional services firms around the globe.
An executive summary of this study is available free at:
https://hingemarketing.com/library/article/2020-high-growth-study-executive-summary
Rachel Weingarten is a marketing and brand strategist, journalist, copywriter, beauty historian, and - in her words, a 'skillionaire.'
Read more about Rachel on her website: https://rachelsfaves.com/about-rachels-faves/
Follow Rachel on Twitter:
https://twitter.com/rachelcw
Kim Calichio is a chef and educator.
When the pandemic shut down NYC, she realized there were many New Yorkers who would not be eligible for government assistance and who would be going hungry.
She set up Lifelife Grocery, which buys groceries from wholesale restaurant suppliers and involves volunteers to pack and deliver the groceries to 700 families per week.
You can support this effort and feed a family for $35 per week by donating here:
https://www.gofundme.com/f/lifeline-food-packages-for-families
Visit the website for Kim's firm, The Connected Chef, here:
https://theconnectedchef.com/
Steve Wunker worked closely with Harvard Business School professor Clayton Christensen, who first popularized the concept of "jobs to be done."
After serving for over five years as a Senior Partner at Innosight, the consulting firm founded by Christensen, in 2009 Steve started his own firm, New Markets Advisors.
In 2017, Steve co-authored the book Jobs to be Done: A Roadmap for Customer-Centered Innovation.
In this episode, Steve provides an overview of the Jobs to be Done approach.
For more info on Jobs to be Done visit:
https://www.newmarketsadvisors.com/jobs-to-be-done-book.html
For more info on New Markets Advisors visit:
https://www.newmarketsadvisors.com/
Sree Sreenivasan has been the Chief Digital Officer at Columbia University, New York City, and the Metropolitan Museum of Art. He is considered one of the most influential people in social media.
We cover many topics in this episode, including the work of Sree's firm Digimentors, which produces world-class virtual events.
https://digimentors.group/
Sree mentions the course he developed for Muck Rack on Fundamentals of Social Media. Check it out here:
https://academy.muckrack.com/
During the COVID-19 crisis, Sree is hosting a daily, global conversation with experts: http://bit.ly/sreecovid19call
How to follow Sree:
Sign up for Sree's Sunday Note newsletter with tech, social and life tips: http://bit.ly/sreenote.
Join his FB Group, Sree's Advanced Social Media: http://bit.ly/sreefbadvanced
His NYT guide to social media: http://bit.ly/nyt2017
His five TEDx talks: http://bit.ly/sreetedxvideos
Twitter: @sree: http://twitter.com/sree
Instagram: @sreenet: http://instagram.com/sreenet
The Declaration of Independence
Read by:
Amada Soto
Alejandra Bachman
Sarah Sonnenfeld
Naomi Soto
Rosina Samadani
Stacy Gilstrap
Roopa Unnikrishnan
Aparna Mukherjee
Veronica Bachman
Alejandra Campos
Nancy Bachman
Leah Burnett
Esther Kim
Surbhee Grover
Julie Gupta
Julie Mallozzi
Maya Dijkstra
Katherine Mechner
Marissa Cherian
Nayla Bahri
Soyini Coke
Lilly Minkove
Evie Hantzopoulos
Susie Chang DeVelde
Sonia Dijkstra
Kazuki Kozuru-Salifoska
Rebecca Tushnet
Susmita Pati
Tere Riera-Carrion
B.B. Banful
Margarita Soto
Video editor: Samuel Bachman
Producer: Will Bachman
Kwame Christian, the Founder and Director of the American Negotiation Institute, is an expert in mediation and conflict resolution, serving a range of corporate and government clients.
Links:
American Negotiation Institute:
https://americannegotiationinstitute.com/
Kwame is the author of Nobody Will Play With Me: Using Compassionate Curiosity to Find Confidence in Conflict
https://www.amazon.com/Nobody-Will-Play-Compassionate-Confidence/dp/0578414368/ref=sr_1_1?dchild=1&keywords=nobody+will+play+with+me&qid=1593376796&sr=8-1
See Kwame's TEDxDayton talk "Finding Confidence in Conflict"
https://www.youtube.com/watch?v=F6Zg65eK9XU&t=11s
Cyrus Massoumi is one of the three founders of ZocDoc, an online medical care appointment booking service that has raised over $280 million in funding and currently has roughly 600 employees.
Cyrus has stepped down from his role as CEO of ZocDoc. In this episode, he shares the three pillars of his current activities:
1) Philanthropy
2) His efforts to solve the problem of "lost," manifested in a new company he founded, Shadow, which has an app that helps reunite lost dogs with their owners: https://shadowapp.com/
3) Investing along with his partner through their fund Humbition
David Nguyen is the Founder of My Consulting Offer, a firm that helps experienced professionals and students get job offers from the top management consulting firms.
In this episode, David shares his firm's process, and what explains how his firm manages to help 85% of its clients get an offer from a top firm.
To learn more, visit:
https://www.myconsultingoffer.org/
Nick Kane is a Managing Partner at Janek Performance Group, which provides sales training, coaching, and consulting.
Learn more about Janek Performance Group at:
https://www.janek.com/
Srikumar Rao developed the groundbreaking course "Creativity and Personal Mastery" at Columbia Business School, which I had the good fortune to take in 2003.
It is the only business school course in the world with its own active alumni association - including annual retreats for CPM alums.
Srikumar has taught this course at other top business schools and delivered a program based on the course to many corporate clients.
He is running an online program that is currently taking applications: https://theraoinstitute.com/cpm-online-2020/
He is the author of two books:
1) Are YOU Ready to Succeed?: Unconventional Strategies for Achieving Personal Mastery in Business and Life
2) Happiness at Work: Be Resilient, Motivated, and Successful - No Matter What
In this episode, Srikumar discusses several mental models, including:
"Good thing, bad thing, who knows?"
and
"Don't shoot the second arrow."
Jim Peters is the Chief Operating Officer at Rite Aid, which is number 150 on the Fortune 500, with $21.7 billion in revenue in 2019.
For the three years prior to joining Rite Aid, Jim ran his own boutique consulting firm serving healthcare and life sciences companies.
In this episode, Jim discusses the steps Rite Aid has taken during the coronavirus epidemic to keep its employees and customers safe.
Jim also covers the innovation initiatives Rite Aid has underway, including steps to help pharmacists operate at the top of their license.
For more on Rite Aid, download this 2020 Investor Day presentation:
https://www.riteaid.com/content/dam/riteaid-web/corporate/investor-relations/analyst-day/20200316_Rite_Aid_Analyst_Day_Presentation.pdf
Umbrex member and McKinsey alum Tim DeRoche is an independent management consultant, a screenwriter, an award-winning novelist and a non-fiction writer.
In Episode 66 of Unleashed, Tim discussed his novel Huck and Miguel, a re-imaging of the story of Huck Finn, set in modern-day Los Angeles.
In today's episode, Tim discusses his latest (non-fiction) book, A Fine Line: How most American kids are kept out of the best public schools.
Learn more about Tim: https://timderoche.com/a-fine-line/
Michael Niczyporuk, currently SVP of Global Product Strategy at Visa, has been the Chief Strategy Officer at USAA, the Global Head of Strategy at Citi FinTech and Digital Payments, and the Head of Strategy for Digital at Capital One.
In this episode, Michael draws on his broad experience across digital financial services to discuss innovation in the payments industry.
Alan Iny is the Global Lead for Creativity and Scenarios at Boston Consulting Group, and the co-author of Thinking in New Boxes: A New Paradigm for Business Creativity.
In this episode, Alan shares practical tips to unleash creativity in your business.
Follow Alan on Twitter: @Alan_Iny
Alan's bio at BCG:
https://www.bcg.com/en-us/about/people/experts/alan-iny.aspx
Check out Alan's book:
https://www.amazon.com/Thinking-New-Boxes-Paradigm-Creativity/dp/0812992954/ref=sr_1_1?crid=3TUCBZAF10VEY&dchild=1&keywords=thinking+in+new+boxes&qid=1592407024&sprefix=thinking+in+new+boxes%2Caps%2C160&sr=8-1
Jamie Head is the Chief Digital and Technology Officer at Ocean Spray Cranberries, which is an agricultural cooperative with over 700 member growers. The cooperative accounts for over 70% of North American cranberry production.
In this episode, Jamie discusses innovations that are underway at this leading global producer.
To learn more about Ocean Spray (and find plenty of recipes), visit:
https://www.oceanspray.com/
McKinsey alum Eli Diament is the Founder and Director of Azurite Consulting, which specializes in conducting B2B surveys that require high volumes of niche B2B buyers, decision makers, and product users.
In this episode, Eli discusses the principles behind constructing a B2B survey that will yield useful insights, and some of the issues to be mindful of when engaging a survey firm.
Learn more about Azurite Consulting at:
https://www.azuriteconsulting.com/
Matt McDonald, a Partner at Hamilton Place Strategies, was recently named one of 38 "Power Players in Consulting" by Business Insider.
In this episode, Matt explains how public affairs consulting firms operate.
Learn more about Hamilton Place Strategies at:
https://www.hamiltonplacestrategies.com/about/
Dan Goldman is the Global Head of Strategy at The North Face.
In this episode, he provides his perspective on leading a strategy team during the pandemic.
https://www.thenorthface.com/
Ken Cloke is a leading global expert on conflict resolution and the author of over a dozen books.
In this episode, Ken shares the principles of conflict resolution, and how he became a pioneer in the field.
Learn more about Ken on his website:
https://www.kencloke.com/about
Brian Ahearn has been certified by Robert Cialdini to teach his influence methodology. Through keynote speeches, coaching, and training sessions, Brian helps professionals understand the full set of influence tools.
If you have a premium LinkedIn account, check out his LinkedIn Learning courses: Persuasive Selling, Persuasive Coaching and Persuading Different Personality Styles
Learn more about Brian's work at his firm's website:
https://www.influencepeople.biz/
Paul Cuatrecasas is the Founder and CEO of Aquaa Partners, a London-based, FCA regulated boutique M&A and strategic advisory firm that advises established companies on managing transformation to create exponentially increasing market value, revenue and profits.
Paul is also the author of Go Tech, or Go Extinct: How Acquiring Tech Disruptors Is the Key to Survival and Growth for Established Companies.
In this episode, Paul shares his firm's approach to tech industry acquisitions.
Learn more about Aquaa Partners on their website:
https://www.aquaapartners.com/
Dhiraj Nayar, CFO of Boston Globe media, provides a perspective on the media business during the coronavirus pandemic.
Dhiraj discusses how the company has worked to keep its reporters and other employees safe as well as initiatives to help the communities it serves.
Please do subscribe: https://www.bostonglobe.com/
McKinsey alum Indranil Ghosh is the CEO of Tiger Hill Capital, a business-building and advisory company comitting its energy, network and capital to commercial enterprises with the potential to deliver transformative solutions for global economic and social challenges.
In this episode we discuss Indranil's recently published book, Powering Prosperity: A Citizen's Guide to Shaping the 21st Century.
Links:
Tiger Hill Capital: https://www.tigerhillcapital.com/
Indranil on Twitter: https://twitter.com/PrincipsofProsp
Powering Prosperity on Amazon: https://www.amazon.com/Powering-Prosperity-Citizens-Shaping-Century/dp/1642933082/ref=sr_1_1?crid=6T6EMO7YQNLQ&dchild=1&keywords=indranil+ghosh&qid=1591187496&sprefix=indranil+ghosh%2Caps%2C274&sr=8-1
Robbie Kellman Baxter is the author of The Membership Economy: Find Your Superusers, Master the Forever Transaction & Build Recurring Revenue, a book that has been named a top 10 marketing book of all time by BookAuthority. Robbie discussed that book on Episode 6 of this show.
In today's episode, Robbie discusses her latest book, The Forever Transaction: How to Build a Subscription Model So Compelling, Your Customers Will Never Want to Leave.
To learn more about her work, visit: https://robbiekellmanbaxter.com/
David A. Fields is back on the show, this time to help me answer a question from listener Caroline Taich, who asked for best practices on what steps to take at the end of a long project to:
1) hand over deliverables
2) ask for recommendations and referrals
3) stay in touch with key individuals you've developed relationships with over the course of the project
We cover all three topics, and I found particularly helpful David's approach to asking for a recommendation.
I recommend that every consultant sign up for David's weekly blog posts: https://www.davidafields.com/blog/
If you like this episode, be sure to check out the other episodes with David:
-
Winning clients
-
How to make outbound calls
-
How to set up a CRM system
-
The David A. Fields Solo Practice Accelerator
-
Partnerships, Advisory Boards, and Gifts
221: How to convert leads to projects
- Pandemic advice for consultants
264: How to run a world-class virtual workshop
McKinsey alum Venkat Nagaswamy is the Group VP of Marketing at 8x8, a leading Software-as-a-Service provider of voice, video, chat, contact center and enterprise-class API solutions.
In today's episode, Venkat discusses how contact centers have kept functioning during the pandemic by rapidly shifting from on premises operations to working remotely. He shares one example in which 8x8 got a call from a call center on Saturday morning and had the client ready to work remotely by Monday.
To learn more about 8x8 visit: https://www.8x8.com/
To follow up with Venkat, visit his LinkedIn profile:
https://www.linkedin.com/in/venkatnagaswamy/
Roger Samways is the VP of Cargo Sales at American Airlines.
In this episode, Roger first provides a brief overview of the air cargo industry, then we discuss the impact of the coronavirus, including how American Airlines has been adapting.
Learn more about American Airlines Cargo at: https://www.aacargo.com/index.html
Kazuki Kozuru-salifoska is a fashion professional, a skilled creative designer as well as tech designer. Together with Doni Jantzen, she founded KEDIC Fashion Workshop.
One of the services they offer is helping fashion brands get into the plus-size market.
I was shocked to hear that the 'standard' clothing sizes manufactured by many brands don't fit 70% of women consumers in the U.S. KEDIC Fashion Workshop helps brands with the technical aspects of translating designs to create a plus-size collection.
In this episode, Kazuki explains the whole design process from concept through production and the role that her firm plays.
Learn more at https://www.kedicworkshop.com/services
Keith Stoeckeler is a VP/Group Director at MKTG, where a significant portion of his time is spent working with brands to establish and manage sponsorships of sports and other entertainment events.
In this episode, Keith discusses how sports sponsorships work and the impact of the coronavirus.
Follow Keith on Twitter: https://twitter.com/keiths
For more on MKTG, visit:
http://mktg.com/
For more on Keith visit:
http://keithstoeckeler.com/
Mark Goulston is a psychiatrist, consultant, and the author of seven books, including Just Listen and Talking to Crazy.
In this episode Mark shares tips on learning to listen including some of the lessons he taught to FBI hostage negotiators.
Ways to learn more about Mark's work:
Website: http://markgoulston.com Non-profit: http://wmyst.org Instagram: https://www.instagram.com/wmystglobal/ twitter: https://twitter.com/MarkGoulston linkedIn: https://www.linkedin.com/in/markgoulston Amazon Book Page: https://www.amazon.com/Mark-Goulston/e/B001IZ2O3W/ youtube channel: https://www.youtube.com/user/markgoulston Speaker Hub: https://speakerhub.com/speaker/mark-goulston itunes: My Wakeup Call podcast HBR blogs: https://hbr.org/search?term=mark+goulston Thrive Global: https://thriveglobal.com/authors/mgoulston/
Austin Publicover is a food safety expert and the Founder of Bulletproof! Food Safety, a consulting firm that works with many of the top restaurants in New York City.
In this episode, Austin discusses the services his firm provides restaurants and food manufacturers, particularly:
-
preparation for NYC Health Department inspections
-
help with obtaining and maintaining all the necessary permits.
We then discuss food safety in the age of the coronavirus.
Learn more about Austin's firm at:
http://bulletprooffoodnyc.com/
Liz Dunn is a noted retail expert who regularly appears on CNBC to discuss the industry.
In this episode, Liz shares a perspective on how the coronavirus pandemic is affecting the retail industry. We cover multiple segments including grocery, home furnishings, home improvement,and apparel.
Follow Liz on Twitter: @Lizabeth_Dunn
On LinkedIn:
https://www.linkedin.com/in/lizabeth-dunn-6677034/
Her company: https://pro4ma.com/
Frank Kochenash is President of Wunderman Thompson Commerce North America - a global eCommerce consultancy within the agency.
In this episode Frank provides an overview of the agency world, explaining along the way why the term "digital agency" is now considered obsolete, as every aspect of marketing now has a digital component.
We dive into the intricacies of what it takes for a brand to thrive on Amazon, and Frank also discusses how the coronavirus pandemic is affecting the world of eCommerce.
To learn more, visit: https://www.wundermanthompson.com/service/commerce
Marvin Riley is the President and CEO of EnPro Industries Inc., a diversified manufacturer of proprietary engineered products used in critical applications.
EnPro is a truly global firm - the company operates manufacturing facilities in North and South America, Europe and Asia; employs more than 5,000 people worldwide, and sells products to more than 50,000 customers in over 100 countries across the globe.
In today's episode, Marvin explains how he has led the firm through the coronavirus pandemic.
Learn more about EnPro at:
https://www.enproindustries.com/home/default.aspx
William H. Bachman, PhD, spent 28 years designing nuclear fuel for civilian reactors. After taking early retirement in 1997, he set himself up as an independent professional - a handyman.
In today's episode, my dad tells the story of his second career.
Check out his one YouTube video, mentioned in this episode, on how to replace a kitchen spray nozzle (308,000 views and counting):
https://www.youtube.com/watch?v=6fuFoB_1KVk
Gleb Tsipursky has a PhD in the history of behavioral science, and his research focused on decision-making, emotional and social intelligence, and meaning and purpose.
In this episode we discuss his recent book, Never Go With Your Gut: How Pioneering Leaders Make the Best Decisions and Avoid Business Disasters, his work advising clients on how to avoid disasters, and his speaking career.
Learn more about Gleb’s work at his firm’s website: https://disasteravoidanceexperts.com/
Gemma Toner is the Founder of Tone Networks, a video-based learning and leadership development platform that empowers female employees through expert content, live coaching and a vibrant online community.
Website: https://www.tonenetworks.com/
Tone Networks LinkedIn: https://www.linkedin.com/company/tone-networks/ Tone Networks FB: https://www.facebook.com/tonenetworks/ Tone Networks Twitter: https://twitter.com/ToneNetworks Tone Networks Instagram: https://www.instagram.com/tonenetworks/
Carolina Miranda is the Founder of Cultivating Capital, whose mission is to help bring about a more just and peaceful world by supporting businesses in implementing better social and environmental practices.
In this episode we discuss B-Certification, and Miranda answers my questions, including:
-
What is B-certification?
-
Why pursue B-certification?
-
How to get B-certification?
Learn more about Cultivating Capital at: https://www.cultivatingcapital.com/
Jason Bernd is the President of the Novant Health Charlotte Orthopedic Hospital.
In this episode, Jason discusses his experience leading his hospital through the coronavirus pandemic.
For more on Novant Health, visit: https://www.novanthealth.org/
Mike Freed is the COO of Mirion Technologies, a leader in radiation safety, measurement and science.
In today’s episode, Mike discusses the steps Mirion has taken during the coronavirus pandemic to protect its customers and its 1,800 employees.
Learn more about Mirion Technologies on their website and their LinkedIn company page.
Jonathan Stark is on a mission to rid the world of hourly billing: he is the author of Hourly Billing is Nuts and three other books.
Definitely check out Jonathan's website, jonathanstark.com, where you can find free resources, including links to his two podcasts, his Youtube channel, a free email-based course titled Value Pricing Bootcamp and the archive of his daily email list.
Jeremy Bieger is the co-founder and CEO of Pulse Insights, a voice of the customer platform that takes a new approach to collecting and leveraging customer feedback.
In today’s episode, Jeremy discusses how online voice of the customer feedback technology has evolved, and how Pulse Insights works with enterprise clients to capture insights from customers at the relevant time.
To learn more about Pulse Insights, visit their website: https://pulseinsights.com/
Rebecca Winn, founder of the boutique residential landscape design firm Whimsical Gardens, has won over 300 horticulture awards and five consecutive Texas Excellence in Landscaping Awards. Her inspirational Facebook blog has over 600,000 followers.
In today’s episode, we discuss Rebecca’s recently published book One Hundred Daffodils, the story of hear search for meaning, identify, and purpose.
www.RebeccaWinn.com
www.facebook.com/WhimsicalGardens
www.facebook.com/WinnRebecca
IG @rebeccawinn.writer
TW @RebeccaOWinn
Purchase One Hundred Daffodils at your favorite retailer:
INDIE BOUND:
https://bit.ly/2VB9c2b
BOOKSHOP.ORG
https://bit.ly/2RYZyUJ
BARNES AND NOBLE
https://bit.ly/2UMn7kd
AMAZON - USA
https://amzn.to/32bft4h
WATERSTONES - UK
https://bit.ly/2JbhuX4
AMAZON - CANADA
https://amzn.to/2IJi52d
AMAZON - AUSTRALIA
https://amzn.to/2WUTAr5
AUDIO
LIBRO.FM -100 DAFFODILS
https://bit.ly/2ygXiB0
AUDIBLE
https://amzn.to/346lS3m
Angelique Rewers is the Founder of The Corporate Agent. Inc. Magazine has called her the undisputed champion at helping small businesses land big clients.
In today’s discussion, Angelique shares tips on how to get the attention of corporate decision makers. We focus in particular on how you can create engaging events – virtual or in person.
Do check out the website of The Corporate Agent, where you can find a range of free resources to get started.
Also, follow The Corporate Agent at:
https://www.instagram.com/angeliquerewers/
https://www.linkedin.com/in/angeliquerewers/
https://www.facebook.com/groups/GetCorporateClients
Lawrence Adjah is an alum of Harvard, McKinsey, Stanford. He is a community builder, business advisor, and pastor.
Several years ago, Lawrence organized a family-style dinner for some acquaintances at a restaurant in NYC. Rule: no phones at the table, no discussing work. Treat tablemates like family.
Participants wanted to attend another dinner and bring people they knew. A movement was born.
Now, the Family Dinner Foundation that Lawrence founded has 50,000 participants.
Last year, Lawrence and his board began exploring how to build community beyond the dinner table, and that focus has now taken center-stage in the age of the coronavirus.
http://lawrenceadjah.com/
Jon S. Rennie is a former nuclear-trained submarine officer with more than twenty years of experience leading industrial businesses.
Jon is the co-founder and CEO of Peak Demand, a global manufacturer of electrical transmission and distribution components.
He is also the author of I Have the Watch: Becoming a Leader Worth Following.
In this episode, Jon shares a perspective on what it means to be a leader in the age of the coronavirus.
Learn more about Jon on his website: https://jonsrennie.com/
In today’s episode, Olivia Chioma Elee shares her experience fighting the Ebola epidemic in Nigeria and Liberia. She coordinated a range of programs including contact tracing and coordinating the logistics for the command centers throughout Liberia. Her work involved participating in the daily briefings at the Health Ministry, running training campaigns targeted at healthcare workers, and visiting sick patients in the field.
Olivia has a Masters degree from the Johns Hopkins Bloomberg School of Public Health and previously worked at Deloitte and Booz Allen Hamilton.
Today she is an independent consultant with a focus on strategy and operations.
You can find Olivia on LinkedIn at: https://www.linkedin.com/in/oliviachiomaelee/
David A. Fields had scheduled an in-person two-day workshop for early April – his Solo Practice Accelerator.
When the coronavirus pandemic made it impossible to conduct the event in person, David and his team converted the event into a highly interactive, world-class virtual workshop.
That took planning, technology, and setting up a studio in David’s living room.
In today’s episode, David shares very practical tips on what it took to run a world-class virtual workshop that engaged attendees as much as an in-person event.
I strongly encourage all my friends to sign up for David's weekly newsletter - the first thing I read every Wednesday morning:
https://www.davidafields.com/blog/
David also kindly shared this checklist:
People (not equipment, but will make some of the buying list clearer)
- Presenter
- Video controller (managing the different inputs)
- Zoom controller (managing breakout rooms, etc.)
Computers
- Laptop for the presenter – any laptop will do
- Laptop for the Video controller – this is a dedicated laptop with a ethernet port, that connected to Zoom.
- Laptop for the Zoom controller – this was for the team member who managed the Zoom breakout rooms
- PC with large monitor and wireless keyboard – this was for the Video controller to be able to send notifications to the presenter. (For instance, “Speed Up” or “Question”)
Tablets
- We used Samsung Galaxy 8” tablets – one per every three participants. (These were used for the breakout rooms.) https://www.amazon.com/Samsung-Galaxy-Android-Tablet-Black/dp/B07VDB92RK/
Video Equipment
- Panasonic HC-V770 videocam with HDMI output. There are probably better cameras and fancier ones with remote control pan and tilt. This is a high quality camera, though, and it gives a “clean” HDMI output without any symbols on the screen. Not all videocams do that. https://www.amazon.com/gp/product/B00RBG5J02
- Roland V-1HD video switcher. Possibly overkill, but allows for picture-in-picture, easy switching, etc. by the Video controller. https://www.amazon.com/Roland-V-1HD-HD-Video-Switcher/dp/B017Y3JSZ8
- HDMI splitter. This allows the presenter to present to the big screen as well as the feed into the Zoom conference. https://www.amazon.com/gp/product/B005HXFARS
- Avio HDMI to USB converter. All the inputs (cameras, presenter’s laptop output) video mixer are in HDMI format and so is the output from the video mixer. You need some way to get that HDMI output into your computer so that Zoom will treat it like a webcam. This cool little box from Avio did the trick well. We got two of them. https://www.amazon.com/gp/product/B00ZH7HRKW
- We also used a lot of lighting equipment, including a soft lightbox (https://www.amazon.com/dp/B07GCN6HV7) a lot of LED lights (https://www.amazon.com/gp/product/B004TJ6JH6) with power adapters (https://www.amazon.com/dp/B07CQG4V18), and a slew of tripods and Zipwall polls.
- Finally, about 5 miles of HDMI cables and extenders. For example, https://smile.amazon.com/gp/product/B01CTD1HAW and https://smile.amazon.com/gp/product/B00HUWVMBW
Monitors
- Presentation monitor – Any large, 4k HD monitor should work fine. We used this one: https://www.amazon.com/Samsung-UN75RU7100FXZA-FLAT-UHD-Smart/dp/B07NC8ZDVL. We definitely needed that size or larger monitor for me to stand next to and still have the slides super legible.
- Confidence monitor – Again, any monitor will work fine. It has to be large enough that the presenter can see it and view all the participants in Zoom’s gallery view. My first choice would have been a 49” ultrawide, and that’s what we’ll use next time. The ultrawide allows you to see the whole gallery and also Zoom’s chat and participants windows easily. (https://www.amazon.com/Acer-EI491CR-Pbmiiipx-Technology-DisplayHDR400/dp/B07NFJ6M3R). Unfortunately, none were quickly available when we were in the throes of pulling this together, so I settled for a 40” regular monitor. We bought two like this, but only used one: https://www.amazon.com/Samsung-Electronics-UN40M5300A-40-Inch-1080p/dp/B071ZVQVFQ.
Audio
- We used a Movo lavalier mic, which worked fine. We have other, fancier equipment, but couldn’t actually create better sound than plugging the Movo directly into the Video controller’s laptop. https://smile.amazon.com/gp/product/B00HX40Q3C
- We also provided a headset to every attendee. https://www.cdw.com/product/sennheiser-culture-sc-60-usb-ml-headset/3091260
Hacking attempts have spiked upwards during the coronavirus epidemic as more employees work from home.
Gary Chan is an information security consultant and shares 12 actions that independent consultants can take to enhance their information security profile.
Visit www.alfizo.com/unleashed to download the list of actions we discuss on the show.
Our guest today is Robert Glazer, an entrepreneur, keynote speaker, and best-selling author.
Glazer writes Friday Forward, a weekly email that goes out to 100,000 subscribers. That started as a weekly inspiration email to his team, they forwarded it to friends, and – boom.
He is also the Founder and CEO of Acceleration Partners, an award winning global affiliate marketing agency – and on this episode he explains what an affiliate marketing agency does.
Glazer was selected by Marshall Goldsmith as one of the 100 coaches that Marshall is mentoring – an incredible honor to be part of that select group.
AND he is the author of Elevate: Push Beyond Your Limits and Unlock Success in Yourself and Others, which we discuss on this episode.
You can find links to his podcast, his books, his columns, and sign up for Friday Forward at his website, https://www.robertglazer.com/
[Note: this episode was recorded before the pandemic.]
Our guest today is Josh Dick, who accomplished the dream of many entrepreneurs.
In the year 2000, after stints as an investment banker at Salomon Brothers and as a Marketing Manager at Unilever, Josh joined Urnex, a small manufacturing business that was founded by his great-grandfather.
Josh would go on to lead the company through fifteen straight years of 15% annual growth, and then he sold the business to a private equity firm for a sum that allows him the flexibility to choose what to do with his time.
And what he’s done is move his family to Florence, Italy, learn Italian, begin advising other entrepreneurs, and write a book titled Grow Like a Lobster: Plan and Prepare for Extraordinary Business Results.
You can find Josh’s blog and contact him via his website, https://www.joshua-dick.com/
In this episode I discuss how to write a consulting proposal.
You can download the consulting proposal template that I discuss on the show.
Our guest today is David A. Fields, author of The Irresistible Consultant’s Guide to Winning Clients.
In this episode, David shares his advice on the actions consultants should take during the coronavirus epidemic.
He reminds us of his number one rule: to practice right-side-up thinking, that is, consulting is about the client, it’s not about us.
David covers:
- How to reach out to clients during the pandemic
- How to establish new partnerships during the pandemic
- How to manage pricing during the pandemic
David has been a popular guest on the show and I encourage you to check out our past discussions, including
Episode 1: Winning clients
Episode 170: Outbound calls
Episode 172: Implementing a CRM system
Episode 190: What makes for a successful consulting partnership
Episode 221: How to convert leads into confirmed projects
I also recommend you sign up to receive his weekly blog post straight to your inbox.
[Note: Today's episode was recorded in January 2020.]
Our guest today is Gary Pritts, the President of Eagle Consulting Partners, a firm that was a specialty in helping clients adhere to the requirements of the Health Insurance Portability and Accountability Act, usually referred to as HIPAA.
In this episode we discuss how Gary built a thriving practice focused on this specialty, and how they have expanded to supporting compliance with other types of regulation.
You can learn more about Eagle Consulting Partners on their website, https://eagleconsultingpartners.com/
[Note: this episode was recorded prior to the coronavirus pandemic.]
Our guest today is Sophia Ononye, who earned a PhD in Pharmaceutical Sciences from the University of Connecticut and did a postdoctoral fellowship in oncology at the Yale School of Medicine.
Sophia is the founder of The Sophia Consulting Firm, and her focus is in creating value via scientific storytelling, primarily serving pharmaceutical and biotech firms.
In this episode we discuss several of the service lines she offers, including strategic marketing, medical affairs, public relations, and scientific communications.
You can learn more about Sophia’s firm at https://sophiaconsultingfirm.com/
Oscar Wimshurst discusses the content that Bench Accounting has been publishing to answer the questions their customers have been asking on how to respond to the coronavirus pandemic.
I learned about Bench when I searched for a good summary of the Paycheck Protection Program on March 28, 2020, the morning after it was passed, and their summary ranked at the top of the first page of Google results. They’ve had their whole content team focused on generating useful material for their customers – and potential customers – which tend to be businesses with 0-5 employees.
Oscar also explains the bookkeeping services that Bench offers.
Check out the latest educational material from Bench on their blog.
Today’s episode is a recording of a webinar that I facilitated on April 8, 2020, attended by 80 independent management consultants.
Ryan Vaughan is a Tax Director at Mazars, a leading global accounting firm, and he answered our questions about the Paycheck Protection Program.
Ryan first provides a general overview that pertains to all businesses, and then he gets into our detailed questions about how independent consultants can access the Paycheck Protection Program. Some of our key questions included:
- If we aren’t W2 employees of our own firms, how do we demonstrate “payroll” to ourselves
- How much of a loan should we be eligible for
- How does the loan forgiveness work
- The practical steps of applying for the loan
- Starting around the 45 minute point, we touch more briefly on the Small Business Administration Economic Injury Disaster Loan.
In the first part of the discussion, Ryan reviews several pages of a slide deck. We’ve posted that document on the Umbrex website, and here is the link.
In this episode, Ryan zips through the highlights of the slide deck in about 10 minutes. He’s also done a full hour webinar on that deck: watch it here.
You've submitted a proposal to a client and then..... silence.
Here are some tips on how to follow up.
Tips on updating your resume.
I’ve looked at 5,000 resumes over the past four years – seen some good ones, and lot of resumes with room for improvement.
This episode is particularly geared at independent consultants, but 90% of it is relevant to any professional.
Sections covered:
- Formatting
- Contact info
- Summary section
- Experience
- Education
- Publications
- Public speaking
- Patents
- Volunteer activities
- Technical skills
- Certifications
- Media
- Functional skills
- Geographic flexibility
- Personal info
- Languages
- Citizenship
Nayla Bahri conducted the research for her EdD on how professionals responded to layoffs during the Great Recession. She discovered that certain behaviors helped lead professionals become resilient and emerge from the crucible even stronger.
In today’s episode, Nayla shares how the lessons from her research apply to those affected by the coronavirus pandemic, and we discuss practical tips to do what she calls “inner work” and “outer work.”
Learn more about Nayla’s work on her website: https://www.naylabahri.com/
And if you like this episode, check out my earlier discussion with Nayla on Episode 97 of Unleashed.
Note: This episode recorded April 1, 2020. The guidelines on the Paycheck Protection Program are evolving daily.
For the latest news, visit:
https://www.umbrex.com/resource/paycheck-protection-program-and-sba-eidl-loans/
===
Dave Haase runs Peninsula Accounting, which offers bookkeeping, tax preparation, and payroll services to small businesses.
Dave’s firm is working with ~100 of their clients this week to prepare applications for the Paycheck Protection Program, and in this episode we discuss that program as well as the SBA EIDL loan.
Regarding the PPP we cover:
The latest guidelines from the U.S. Treasury
The draft application form
The information you need to pull together to apply
How much will your business qualify for?
How does the loan forgiveness work?
Can you apply for the loan through more than one bank?
Regarding the SBA EIDL we cover
Documents you’ll need to apply
How to apply
===
The U.S. Treasury application form for the PPP is here:
https://home.treasury.gov/system/files/136/Paycheck-Protection-Program-Application-3-30-2020-v3.pdf
Contact Dave at:
dave@peninsulaaccounting.com
https://www.peninsulaaccounting.com/services-overview
Maureen Pritchard is a trust and estates attorney based in New York City.
In today’s episode, Maureen discusses:
- What information you should gather before meeting with a trust and estates attorney
- What is the benefit of creating a will?
- What are the benefits of creating a trust?
- What are the considerations in designating a guardian for your children?
- What other documents, besides a will or trust, should be included in an estate plan?
- How much will it cost to have the documents prepared?
- Why not use LegalZoom?
- How to select a trust and estates attorney
Maureen kindly shared several documents that can help you get started:
12 tips for guardianship
Estate Planning Worksheet
Will Design Sheet
Contact info for Maureen is on her firm’s website:
https://www.wpaslaw.com/
Over the past couple decades since I left the Navy, people have often asked me what it was like to serve in a submarine.
Well, if you are sheltering in place, here are tips to simulate submarine life at home.
How to receive payment from a client in another country when your invoice is denominated in your own currency and when the invoice is in a foreign currency
How to send payment to a subcontractor or vendor in another country when the recipient’s account is denominated in your currency or in a foreign currency
How to set up a recipient for payment – the account info you’ll need
A deep dive on how to use Transferwise
When you have time between projects, here are some ideas on which skills you might want to spend time investing in.
Also, some tips on resources to use.
Suggestions include:
- Writing
- Slides
- Data science and programming
- Data visualization
- Software for creative professionals
- Core business skills
- Excel, PowerPoint, Google Suite
- Social media
- Google Search
- Liberal arts, science, engineering
- Industry-specific topics
- Drawing
- Economics
- Foreign language
Suggested resources include
LinkedIn Learning
Udacity
edx.org
Cognitive Class
Coursera
Iversity
Youtube
In this episode, tips on how NOT to submit expenses to a client.
And my suggestion on one right way to do it.
This episode is U.S. specific, as I discuss the Paycheck Protection Program, which is an element in the CARES Act passed by Congress yesterday.
Topics covered:
- Who is eligible for the loan
- The maximum amount you can borrow
- How you can get the loan forgiven. Yes, I said forgiven.
- The interest rate for any portion of the loan not forgiven
- The application deadline
- And whether you can double dip if you already got a Small Business Administration Economic Injurty Disaster Loan (EIDL) related to COVID-19
Useful links:
The full text of the CARES Act
https://www.govinfo.gov/content/pkg/BILLS-116hr6379ih/html/BILLS-116hr6379ih.htm
Articles from bench.co that do a great job of summaring the Paycheck Protection Program as well as the full CARES Act
https://bench.co/blog/tax-tips/coronavirus-relief-bill/
https://bench.co/blog/operations/paycheck-protection-program/
A press release on the PPP from the US Senate Committee on Small Business and Entrepreneurship
https://www.rubio.senate.gov/public/_cache/files/ac3081f6-14ae-4e6f-9197-172ede28badd/71AB6CB05A08E369E0D488A80B3874A5.faqs---paycheck-protection-program-faqs-for-small-businesses.pdf
A blog post from the Economic Innovation Group that has a nice table summarizing the key features of the Paycheck Protection Program
https://eig.org/news/understanding-the-paycheck-protection-program
A link to CareerOneStop.org, which has links to the Unemployment program website for every state
https://www.careeronestop.org/LocalHelp/UnemploymentBenefits/find-unemployment-benefits.aspx
A summary from Golenbock Eiseman law firm
https://www.golenbock.com/wp-content/uploads/2020/03/GEABP-Alert-Federal-Assistance-For-Small-Business-Under-the-Cares-Act-March-27.pdf
Forbes article
https://www.forbes.com/sites/peterjreilly/2020/03/27/paycheck-protection-program-looks-like-a-very-sweet-deal/#29fe80b51c60
Marc Feigen is considered the leading CEO advisor in the United States; Fortune magazine called him the “CEO Whisperer.”
Marc currently advises a dozen Fortune 200 CEOs, and in today’s episode he shares the questions those CEOs are facing and the steps they are taking to address the impact of the coronavirus pandemic.
To learn more about Marc’s firm, visit: http://feigenadvisors.com/
Umbrex member C.V. Ramachandran has three decades of consulting experience, having served as a senior leader at Booz Allen Hamilton, A.T. Kearney, AlixPartners, and Accenture.
Today he runs his own consulting practice focused on digital transformation.
In our discussion, C.V. shares a perspective on the impact the coronavirus will have on B2C and B2B businesses.
To follow up with C.V., connect with him on LinkedIn at https://www.linkedin.com/in/cv-ramachandran/
In a matter of days, Umbrex member Kaihan Krippendorf has organized a fantastic event to support the fight against COVID-19: the 2020 Outthinker Virtual Summit.
100% of the proceeds will go to charities working on COVID-19.
Kaihan has lined up 20 amazing speakers who have each agreed to donate an hour of their time to providing a perspective on the crisis and answering questions.
This online event is taking place April 6 and 7, and I definitely encourage you to check out the website and consider signing up. If you attend live, you’ll be able to submit questions to the speakers. If you can’t attend every session, they’ll be available afterwards for registered attendees.
Listeners of this show can use the discount code UNLEASHED30 to get a 30% discount (disclosure statement: I do not receive a referral fee.)
Read more at: https://summit.outthinkerroundtables.com/
In this episode, Kaihan explains how he and his team pulled the summit together so quickly, and provides tips on how you can set up something similar yourself – perhaps a summit for your industry or a functional area where you focus.
Kaihan discusses the technology tools used to pull it together, including:
Zoom – Webinar version
Ticket Tailor to sell the tickets
Stripe and PayPal to collect payment
Squarespace for the summit’s web page
Doodle to coordinate speaker schedules
Daniel Weiner is a prominent attorney with forty years of experience serving companies in distress, guiding them through restructuring efforts. He is widely published on the subject of bankruptcy, including co-author of the Collier Bankruptcy Practice Guide and contributing author to Bankruptcy and Its Impact on LLC Membership Interests, published by The Institute of Continuing Legal Education.
In today's episode, Weiner provides a broad overview of how restructuring works, and then in the second half suggests some specific steps for owners of small businesses impacted by the global pandemic.
To learn more about his work, visit http://www.schaferandweiner.com/
If you are looking to stay productive while between projects, one way to use the time productively is to invest time in creating or improving the marketing collateral of your firm.
In this episode, I share 14 recommendations.
I mention some previous episodes of this show in my discussion, including:
Episode 211: LinkedIn Profile Best Practices
Episode 235: Mark Williams on creating an amazing LinkedIn profile
Episode 140: Creating a project list
Episode 121: Creating a portfolio of sanitized work
If you are looking to stay productive while between projects, one area to invest time is setting up technology tools for your practice.
In this episode, I share 17 recommendations.
I mention some previous episodes of this show in my discussion, including:
Episode 172: David A Fields on setting up a CRM system
Episode 236: Evernote
Episode 237: MixMax
Episode 73: Calendly
MixMax is a tool that plugs into Gmail or G-Suite email and provides you with email superpowers.
In this episode I discuss the incredible capabilities of this tool, including sending sequences with automated follow-ups, finding out who has opened your emails and when, and scheduling emails to get sent at some future time.
Sign up for MixMax at www.mixmax.com
I highly recommend Evernote - it is far more than a note-taking app. You can also clip websites, save voice memos, store emails, and many more.
In this short episode I give some examples of how I use Evernote.
Sign up for your own Evernote account at www.evernote.com
Mark Williams, aka 'Mr. LinkedIn', is the host of one of my favorite podcasts, LinkedInFormed - I've listened to dozens of episodes, and much of what I know about LinkedIn I know from Mark.
In this episode, Mark provides tips on key aspects of the LinkedIn profile: the headline, the photo, the about section, and the experience section.
At one point I mention a specific episode of LinkedInFormed on the types of posts that engage. That one is Episode 242, and it would be a great episode to start with if you haven't heard this show before.
You might also check out Episode 211 of Unleashed, in which I share my perspective on each aspect of the LinkedIn profile.
Umbrex has set of a task force to help small businesses navigate the coronavirus pandemic.
We'd love to get your help across these workstreams:
-
Create the content for the playbook
-
Design and publish the playbook (as a wiki? website? TBD)
-
Recruit coaches and consultants
-
Spread the word to business owners who need help
-
Administration of a database and reporting
-
Outreach to partner organizations and government
-
Legal advice on NDAs, employment law, etc.
Our guest today is Umbrex member Susan Drumm, a BCG alum and the CEO of Meritage Leadership Development.
Susan has extensive experience in running virtual meetings via videoconference, and in today’s episode she shares a set of tips to make virtual meetings more effective.
Susan is publishing an article on this very topic tomorrow, March 16, and you can find that article and more of her writing at
www.meritageleadership.com/blog
If you find some value in this episode, I encourage you to check out Episode 65 of this show, in which Susan provides tips on facilitating high-impact offsite events. In that episode our discussion focused more on content, which in today’s discussion we focus more on tactical aspects of running a virtual meeting.
In today’s episode I suggest that someone on each meeting be designated to send a recap email; I discuss recap emails in more detail in Episode 203.
I also mention the real-time polling tool Mentimeter, and to learn more about that tool, check out Episode 53 in which I interview Johnny Warstrom, the CEO of Mentimeter. To get your own account, visit www.mentimeter.com
Our guest today is Rhona Silverbush, co- author of Speak the Speech!: Shakespeare's Monologues Illuminated.
Rhona teaches small-group classes and privates one-on-one coaching to actors on how to speak the language of Shakespeare.
You don’t need to be a professional actor to work with Rhona: some of her students are members of the regular public who just want to get a better appreciation of the plays – and there is no better way to do that than reading the plays aloud in a group. She periodically hosts a play-reading circle in New York City, and if you are interested to learn more, check out her website: http://www.rhonasilverbush.com/
Our guest today is Jay Charkow, President of International Tariff Management.
For several years I’ve been wanting to understand the basics around tariffs. In the New York Times or Wall Street Journal, usually all you get is some very broad statement such as “the Administration has imposed a new round of tariffs on goods imported from China.”
I wanted to ask some basic questions: do Americans pay tariffs on goods imported from any country?
Does the tariff vary by country?
How much are the tariffs, and how are they calculated?
Does the tariff vary by the type of good?
What if you import some parts, make a good, and then export it?
What if you import a part into Mexico, do some processing in Mexico, and then import the good into the US?
Do we have trade deals with every country? If not, which ones do we have a deal with? If we don’t have a special deal with the country, how much tariff do we pay?
How much tariff do other countries charge when the U.S. exports goods?
What are the details behind the Trump trade war with China.
In this conversation, Jay answers many of these questions.
To learn more about Jay’s firm, visit: https://www.tariffmanagement.com/
Our guest today is Andrea Bonime-Blanc, a leading global expert in the area of risk management, and the author of five books, including the recently published Gloom to Boom: How Leaders Transform Risk Into Resilience and Value.
Gloom to Boom expands the traditional risk-management framework of ESG, which stands for environmental, social, and governance risks, by adding technological risks, so the acronym gets expanded to ESGT.
In our discussion today we talk about her latest book and her work consulting to Board Directors on risk management.
To learn more about her practice, visit https://gecrisk.com/
Our guest today is McKinsey alum Gaurav Bhatnagar.
Gaurav is the Founding Partner of Co-Creation Partners, where he leads cultural transformations for his clients. In this episode, Gaurav explains to me what a cultural transformation is, what you actually look at during a cultural diagnostic, and what sort of tools his firm uses to drive change in an organization’s culture.
To learn more about his firm, visit http://www.cocreationpartners.com/
For executives who are thinking about becoming a consultant in a year or two, a time investment of two hours per week now can dramatically improve your chances of success when you launch your practice.
Our guest today is Jim McEachern, an independent consultant who has been working with the Alliance for Telecommunications Industry Solutions (or ATIS) on developing technology to cut down on robocalls.
For years I’ve been wondering why telecommunications companies haven’t done more to eliminate robocalls, so when I saw Jim quoted in a New York Times article about this work, I reached out to him.
I was so pleased that he agreed to be on the show to talk about his work and explain to me how spoofing works and why the existing technology has made it hard to fight robocalls.
I also learned a practical tip: whenever I get a robocall, I have been blocking that phone number on my phone. Jim explained to me that I’m probably just wasting my time, since robocallers often use a different spoofed number on each outbound call.
In the show notes, you will find a link to the NYT article where I first heard of Jim’s work, a link to the ATIS website that has more info on the protocols Jim discusses on this show, and Jim’s LinkedIn profile
https://www.nytimes.com/2019/08/22/technology/personaltech/robocalls-call-blocking.html
https://www.atis.org/sti-ga/
https://www.linkedin.com/in/james-mceachern-9644591/
In this video edition of Unleashed, Michael Sorrentino provides Will Bachman with an introduction to media training.
No one is a natural in front of a videocamera, because you need to speak in an unnatural way and hold yourself in an unnatural position if you want to look normal.
If you have invested time and effort to build up your visibility and expect to be appearing on camera, it is a worthwhile investment to obtain media training from a professional so that in your few minutes on screen you make a good impression. (Will Bachman will need a lot more than 1 session.)
Michael Sorrentino's studio is located in the heart of Manhattan, and if you are interested in getting training from him for yourself or a member of your team, visit his firm's website:
https://www.sorrentinomedia.com/
Our guest today is Liliana Petrova, who runs The Petrova Experience, a consulting firm that helps brands build differentiated experiences and leverage technology to increase customer loyalty, efficiencies and revenue.
Liliana was previously the Director of Customer Experience at JetBlue Airways, and on this episode we discuss some of the culture driven behind-the-scenes decisions that set JetBlue apart – including the blue potato chips and the free wifi.
Then we discuss some of her more recent work, including an effort to map out and then improve the experience of fans at a sports arena.
To learn more about her firm visit thepetrovaexperience.com
Linked In:
https://www.linkedin.com/in/lilianapetrova/
Twitter:
https://twitter.com/LilianaPetrova
Instagram:
https://www.instagram.com/thepetrovaexperience/
Facebook:
https://www.facebook.com/The-Petrova-Experience-419743838814954/?view_public_for=419743838814954
Today's guest is McKinsey alum and Umbrex member Tineke Keesmaat, who is based in Toronto. Tineke’s firm works with ambitious leaders and she is known for her unique blend of world-class strategy, organizational change, and people leadership.
Tineke was recently awared with a MacKay Canada CEO’s Trusted Advisor Award, recognizes the contributions that Trusted Advisors make in the leadership field to enable Canadian businesses to succeed.
You can learn more about her firm’s work on their website, which is extraordinarily well designed:
http://tiltco.ca/
In my conversations with independent consultants, a common question I get is how to generate more business.
There are a lot of things one could POTENTIALLY do to generate more revenue, and some people flail around putting effort into initiatives that may have a low return on investment.
Of course we all want to put our time and energy into areas with a relatively high return on investment, and I’ve found that it is useful to break down all the possible factors into what I call the Consulting Revenue Equation.
Also check out Episode 221, in which I discuss with David A. Fields some ways to increase your conversion rate.
Our guest today is Michael Ryan, whose headline on LinkedIn is a great example of a fishing line:
"Helping B2B Manufacturers Optimize Inventory and Operations to Increase Cash Flow"
In this episode, we explore Michael’s work on inventory issues.
Michael is certainly in the top 1% of people I know in how he has been using LinkedIn to build a brand. Michael has posted every day on LinkedIn for six months, and his posts are always on-brand, always related to inventory management.
In the second half of this show we discuss how Michael has been using LinkedIn, and the impact this investment has had on this business.
Definitely check out his profile – it is a fantastic example of someone who really gets LinkedIn and social selling:
https://www.linkedin.com/in/isolveproblems/
To learn more about his business, visit www.mryangroup.com
Today we welcome back David A. Fields, the author of The Irresistible Consultant’s Guide to Winning Clients: 6 Steps to Unlimited Clients & Financial Freedom.
David was my very first guest, on Episode 1, when we covered many of the topics in his book.
https://www.umbrex.com/unleashed/episode-1-david-fields-on-winning-clients/
In Episode 170, David shared tips on how to make outbound calls:
https://www.umbrex.com/unleashed/episode-170-david-fields-on-how-to-make-outbound-calls/
In Episode 172, David explained how to set up a CRM system for a small consulting practice:
https://www.umbrex.com/unleashed/episode-172-david-fields-on-how-to-set-up-a-crm-system/
And in Episode 190, David discussed what makes for a successful consulting partnership:
https://www.umbrex.com/unleashed/episode-190-david-fields-on-what-makes-for-a-successful-consulting-partnership/
In today’s episode, David and I riff on tips to increase the chances of converting a possible consulting opportunity into a confirmed project.
Definitely buy David’s book if you haven’t already, and check out his website, davidafields.com. I love his weekly blog posts and if you visit his blog and scroll down, you can sign up to get his blog posts delivered right to your inbox – it is the first email I read every Wednesday morning.
Our guest today is Paul Millerd, who has been on the show before, on Episode 62. It was great to welcome Paul back to hear what he has been up to.
I’m so inspired by Paul, who has been incredibly deliberate about designing a life. He has built a practice that allows him to work completely remotely, and recently left home in Boston to spend a stretch of time working in Bali and then in Japan and now in Taiwan.
He has developed several online courses with over 4,500 students on Udemy alone, he writes a very popular weekly newsletter that I love, and he is incredibly generous with his time: on his website you can book time to have a “curiosity conversation” with Paul; he has spoken with hundreds of people around the world who have reached out to him in this way.
Check out Paul’s website, think-boundless.com
Follow him on Twitter @p_millerd
Check out the consulting skills course he created at strategy.co https://strategyu.co/
Paul has written one of the most authoritative articles on the evolution of consulting talent platforms, and I’ll include a link to that piece in the show notes:
https://think-boundless.com/the-failed-promise-of-freelance-consulting-talent-platforms/
Email me at unleashed@umbrex.com and I'll add send you the weekly Unleashed email that includes a summary of each episode and bonus material.
Ripa Rashid is the Managing Director at Culture At Work, which works with Global 500 organizations to build cultural change strategies to maximize their Diversity and Inclusion efforts while generating positive business results.
Ripa is the coauthor of three books: Disrupt Bias, Drive Value (Center for Talent Innovation, 2017), Growing Global Executives: The New Competencies (Center for Talent Innovation, 2015), and Winning the War for Talent in Emerging Markets: Why Women Are the Solution (Harvard Business Review Press, 2011)
She is featured often in the media as a thought leader, and has appeared on BBC, NPR, CNN, CNBC, Harvard Business Review, and Bloomberg. She is cited widely in mainstream and management publications such as The Economist, Forbes, Huffington Post, Newsweek, New York Times, Washington Post, The Times of India, Hindustan Times, HR Matters and South China Morning Post.
In this episode Ripa explains to me what the research shows on the benefits of increasing diversity in the workplace, and what diversity and inclusion initiatives tend to be the most successful.
Nir Eyal was my guest on Episode 200 of this show. I found his message so important that I asked Nir to discuss his latest book, Indistractable, at an Umbrex Presents event, which took place October 28, 2019.
This episode is Nir's complete live talk to a capacity crowd at StandUpNY, followed by a Q&A period.
Subscribers of the weekly Unleashed email receive private invitations to register for Umbrex Presents events before the general public. To subscribe, email unleashed@umbrex.com
In Episode 213, Will Bachman discussed how to source experts for interviews - either using an expert network or by doing the work yourself.
Listener Gary C. asked if consultants should sign up with expert networks as the one to be interviewed.
This episode answers his question, in three parts:
- Will your expertise be useful to the people who are asking the questions
- Are you likely to get selected for an interview
- What are the costs and benefits of joining as an expert – so is it worth your time
To connect with Will Bachman on LinkedIn, visit:
https://www.linkedin.com/in/willbachman/
Every week we send out an email to subscribers with summaries of each Unleashed episode, transcripts, and bonus materials. To sign up, email unleashed@umbrex.com
David Minifie is the Chief Experience Officer and Executive Vice President of Corporate Strategy at Centene Corporation.
Centene is a Fortune 500 company that provides a portfolio of services to government sponsored healthcare programs.
In this episode, David explains to me the role and responsibilities of a Chief Experience Officer, which includes and expands the responsibilities he previously held as the Chief Marketing Officer.
You can learn more about Centene on their website, centene.com
And you can see more of David’s background on his LinkedIn profile – a link is in the show notes.
https://www.linkedin.com/in/c-david-minifie-50250a/
Each week we send an email with summaries of the latest Unleashed episodes, transcripts of each episode, and bonus materials. To subscribe, email unleashed@umbrex.com
To connect with Will Bachman on LinkedIn, visit https://www.linkedin.com/in/willbachman/
What should you say when you are meeting for the first time with an individual at a client you are already serving?
Here's the approach I've used the past few years:
“I’d be happy to provide context on the project, but I don’t want to go over material you are already familiar with. What have you already heard about this effort?”
In this episode, I explain why I use that question.
Every week I send out an email with summaries of each Unleashed episode, transcripts of each episode, and often some bonus material. If you’d like to receive it, send me a note at unleashed@umbrex.com
I was chatting with an independent consultant at an event last night, and he told me, “I’m having a hard time finding project opportunities, and I don’t know what I’m doing wrong. I’ve got three decades of experience, so usually if I sit down with someone and talk to them about their business, I’m able to find a way that I can be helpful, but I’m not getting the opportunity to have those conversations.”
This short episode was my response.
Every week I send out an email with summaries of each Unleashed episode, transcripts of each episode, and often some bonus material. If you’d like to receive it, send me a note at unleashed@umbrex.com
In this episode, Will Bachman explains how to source experts to interview for a consulting project.
The episode covers:
1) How to work with expert networks such as AlphaSights, GLG, and Third Bridge
and
2) How to source experts on your own using LinkedIn and other channels
We cover:
-
How to identify the populations to be sourced
-
How to work with a researcher to generate a list of targets
-
How much to pay experts
-
Whether to record the call
-
Detailed tips on a Google tracking sheet
Bonus material: To receive a sample tracking sheet, sign up for the weekly Unleashed email by emailing Will Bachman at unleashed@umbrex.com
Umbrex member Ushma Pandya is the Co-Founder and Partner at Think Zero Inc, an environmental consulting firm supporting businesses' waste reduction and diversion goals.
In this episode, Ushma walks me through the stages of a typical waste reduction project, and shares some of the surprising things she has found in the recycling bin.
You can learn more about her firm at: https://thinkzerollc.com/
To receive the weekly Unleashed email that includes a summary of each episode, transcripts, and bonus features, send Will Bachman an email at unleashed@umbrex.com
In this episode Will Bachman covers:
Which type of LinkedIn Premium subscription should you get
Tips on posting LinkedIn articles and posts
Recommendations on each element of your LinkedIn profile, including:
- Photo
- Name
- Headline
- Contact info
- Summary section
- Summary section attachments
- Experience
- Experience section attachments
- Education
- Skills
- Interests
- Recommendations received and given
For more on LinkedIn, check out the LinkedInformed podcast with Mark Williams. Episode 242, covering effective LinkedIn posts, is a great place to start: https://linkedinformed.com/episode242/
Will has summarized all these tips in a checklist - email Will Bachman at unleashed@umbrex.com and he'll send you a copy of that checklist and add you to the weekly Unleashed email, which includes a summary of each episode, transcripts of each episode, and other bonus features.
McKinsey alum Raghav Nandagopal is the Executive Vice President of Corporate Development and Mergers and Acquisitions at Ascensus Incorporated.
In today’s episode, Raghav explains how he build an M&A group to complete acquisitions at scale at Ascensus.
Ascensus is the largest independent retirement and college savings services provider in the U.S. with over $163 billion in assets under management, you can find out more about them at ascensus.com
You can find out more about Raghav’s background on his LinkedIn profile: https://www.linkedin.com/in/raghavnandagopal/
If you’d like to receive the transcript of each episode plus other bonus features right in your inbox, email Will Bachman at unleashed@umbrex.com
Tom Schwab runs Interview Valet, a firm that helps its clients get booked on targeted podcasts where they can speak directly to their ideal customers.
In this episode, Tom shares his perspective on why being a guest on a podcast is a great way to raise your visibility
How to prepare for an interview
How to promote the interview
How to work with a podcast interview booking firm like his
And How to get invited on shows if you want to do it yourself
You can learn more about Interview Valet on their website, https://interviewvalet.com/
And if you want to connect with Tom, his LinkedIn URL is in the show notes
https://www.linkedin.com/in/thomasmschwab/
If you'd like to receive Unleashed bonus features, email Will Bachman at unleashed@umbrex.com to receive the weekly Unleashed email.
Jake Jorgovan turns consultants into thought leaders through content marketing.
Jake’s firm, Content Allies, works with consultants who have deep industry or functional knowledge, but who simply don’t have the time to sit down and get that knowledge onto paper.
A writer from his team interviews the client to get a brain dump on a particular topic, and then they write the blog post or the white paper for the client.
Let’s say you’ve got a lot of industry knowledge and experience, but you
You can learn more about Content Allies on their website, contentallies.com
And you can learn more about Jake on his own website, https://jake-jorgovan.com
If you'd like to receive Unleashed bonus features and summaries of each episode, email Will Bachman at unleashed@umbrex.com
Our guest today is Tanya Kleindienst, a culture and leadership coach based in Cincinnati, Ohio.
Prior to starting her independent consulting practice, Tanya was the Senior Vice President and Head of Corporate Culture at Fifth Third Bank.
In this episode, Tanya describes the roles and responsibilities of a head of corporate culture.
You can connect with Tanya via LinkedIn:
https://www.linkedin.com/in/tanya-kleindienst-6274541b/
If you'd like to receive Unleashed bonus materials in our weekly email, shoot Will Bachman a note at unleashed@umbrex.com
Our guest today is Michael Fertman, a marketing consultant who runs The B2B Marketing Group based in New York City.
In today’s episode, Michael explains the fundamentals of Search Engine Optimization (SEO).
If you are looking to have your website ranked higher in search engine results, and SEO is a bit of a black box to you, then this episode could be a good place to start.
You can learn more about Michael’s work on his website, theb2bmg.com and you can find Michael on LinkedIn here:
https://www.linkedin.com/in/fertman/
To receive Unleashed bonus material, subscribe to the weekly email by emailing Will Bachman at unleashed@umbrex.com
Our guest today is Annie Scranton, the Founder of Pace Public Relations,a full-service media relations and communications agency based in New York City.
If you want to raise your visibility by getting interviewed on TV or by print journalists, this is the episode for you, since Annie explains to me the basics of how public relations work.
You can find out more about Pace Public Relations on their website, pacepublicrelations.com
Annie’s LinkedIn URL is:
https://www.linkedin.com/in/anniescranton/
and you can follow Annie on Twitter at @anniescranton
Finally, we'd like to welcome listeners Aliyak K, James M, Aidan K, Burnes H, and Hussein A. who have recently signed up for the weekly Unleashed email. If you’d like to receive the transcript of each episode plus other bonus features right in your inbox, email Will Bachman at unleashed@umbrex.com.
Our guest today is Clark Beecher, the Co-Founder and Managing Partner of Beecher Reagan, the largest U.S. executive search firm that exclusively focuses on current and former consulting talent.
In this episode Clark provides tips on how to best work with executive recruiters – both when you are looking for a new role and when you aren’t.
He also provides his perspective on how recruiters and employers view a stint as an independent consultant. So if you are an independent consultant considering a return to the corporate world, his tips on how to position your recent work may be particularly relevant.
To learn more about Clark’s firm, visit
https://www.beecherreagan.com/
If you are seeking an independent consultant to support a project at your firm, or if you are interested in joining our global community of independent management consultants, email Will Bachman at unleashed@umbrex.com
A five-minute investment in sending a recap email can significantly improve the effectiveness of meetings and the overall outcomes on a project.
In this episode, we discuss two flavors:
#1: The post-meeting recap email
#2: The weekly recap email
If you are interested in hiring an independent consultant for one of your project needs, email Will Bachman at unleashed@umbrex.com
Our guest today is Avish Bhama, the CEO of Sonia, where the mission is to build Artificial Intelligence that interprets human intent, and use it to democratize access to information-flow at work. Sonia builds tools that empower you to focus on the interesting and creative nature of your work rather than the repetitive and mundane parts.
When you sign up for a plan with Sonia, you get an AI tool that can dial into your phone calls, take notes, identify the action items that are agreed to in the meeting, and then send an email afterward.
While this sounds a bit sci-fi, it seems that it won’t be long before this sort of AI involvement in the work flow of knowledge workers will be the norm.
Learn more about Sonia at Sonia.ai
To request to join our global community of top-tier independent professionals, email host Will Bachman at unleashed@umbrex.com
Custom-made shirts and suits for men may cost a bit more than clothes off the rack, but are a much better value.
Technical fashion designer Kazuki Kozuru-Salifoska explained the economics to me.
For the last six years, I've bought all my shirts and suits from Latesh Kewalramani, who goes by Harry. He is making his annual swing through the United States to take measurements and orders for shirts, suits, and jackets for men.
You can download his itinerary here.
If you'd like to book an appointment with Harry, email him at galleria@loxinfo.co.th or call him at 662-639-1401.
If your schedule doesn't permit a visit this year, email him to get added to his mailing list.
Harry will be in the following cities:
New York City: Sept 9-12, 2019
Philadelphia: Sept 13-14
Washington, DC: Sept 15-16
Fort Lauderdale, FL: Sept 17-18
Boston, MA: Sept 19-20
Atlanta, GA: Sept 21-22
Chicago, IL: Sept 23-24
Scottsdale, AZ: Sept 25-26
Houston: Sept 27
Dallas: Sept 28-29
Los Angeles: Sept 30-Oct 3
Our guest today Nir Eyal, author of Hooked: How to Build Habit-Forming Products, which has been a huge bestseller and is considered a must-read book in Silicon Valley.
Nir’s latest book is Indistractable: How to Control Your Attention and Choose Your Life, which is being released on September 10. I’ve read a review copy, begun putting his recommendations into effect, and I highly recommend this book to anyone who has ever been distracted.
In today’s episode, Nir shares highlights from the book, and gives a summary of his four-part approach to becoming indistractable.
Nir has a bunch of free downloads that go along with the book on his website at: www.NirAndFar.com/Indistractable
While you are on his site, definitely sign up for Nir's weekly email - I love it.
The schedule maker tool that Nir mentions in our discussion is at: https://nirandfar.com/schedule-maker/
And distraction guide here: https://www.nirandfar.com/distractions/
If you are interested in joining a global community of top-tier independent professionals, email Will Bachman at unleashed@umbrex.com and please include your resume and LinkedIn URL
The New York Phi Beta Kappa Association asked me to share some tips with recent graduates in the New York City metro area as a panelist at an event this evening.
I came up with a list of 48 tips and figured I'd share them here first.
Some tips are probably obvious; some non-obvious tips may also be not helpful.
I hope the set of non-obvious + useful tips is non-zero.
To get the weekly Unleashed email that includes a summary of recent episodes and bonus material, email Will Bachman at unleashed@umbrex.com
Our guest today is Rima Nair, a McKinsey alum who is a Principal at IRI, a leading provider of big data, predictive analytics and forward-looking insights that help CPG, retail and media grow.
In this episode, Rima explains why the largest consumer packaged goods companies subscribe to IRI’s information sources, and how the world of customer insights is evolving.
You can learn more about IRI at https://www.iriworldwide.com/en-US/
And if you want to reach out to Rima, Here LinkedIn profile is:
https://www.linkedin.com/in/rima-nair-bb57295/
Have a questions about independent consulting? Email host Will Bachman at unleashed@umbrex.com
Our guest today is Josh Spodek, who last joined us on Episode 25 of this show.
I was very pleased that Josh agreed to return to discuss his new book, Initiative: A Proven Method to Bring Your Passions to Life (and Work).
In today’s episode, Josh shares some of the exercises from this new primer on how everyone can make change happen in the world.
Josh is a busy professional:
In addition to writing books, he writes a daily blog
He is also the host of a podcast, Leadership and the Environment, with over 200 episodes, that feature an A-list of guests including Seth Godin, Dan Pink, Dominic Barton, Sir Ken Robinson, Ken Blanchard, Marshall Goldsmith, David Allen, Jonathan Haidt, and many other luminaries.
To find links to all of Josh’s activities, visit
http://joshuaspodek.com/
To receive a weekly round-up of the most recent Unleashed epsiodes, plus bonus material, email Will Bachman at unleashed@umbrex.com
Umbrex member and BCG alum Ilana Grossman, a marketing consultant based in New York City. Her firm is called B2Both, since she works with both B2B and B2C clients.
Ilana has been the Chief Marketing Officer at several rapidly growing companies, and we discuss
- The role of the Chief Marketing Officer, and how it is changing
- Key performance indicators in the world of marketing
- And what it is like being an independent consultant focused on marketing
You can learn more about Ilana’s firm at b2both.com
If you'd like to receive bonus content plus an update each week on the most recent Unleashed episodes, email Will Bachman at unleashed@umbrex.com
Our guest today is Ray Carbonell, the CEO at Qnary, a company that builds out and grows the reputation and thought leadership of professionals.
Qnary writes LinkedIn posts and tweets for busy professionals, typically senior executives, and then writes the replies to comments on those posts.
In this episode, Ray shares how his firm works with their clients to identify the content pillars that the posts will focus on, what makes a compelling post, and best practices in engaging with those who comment on the post.
Ray also shares the best times to post and how often to post (3-5 LinkedIn posts per week is optimal, and a minimum of one tweet per day is recommended.)
To learn more about his firm, visit https://www.qnary.com/#visible
For help on finding an independent consultant for your project, email Will Bachman at unleashed@umbrex.com
Our guest today is Zbigniew "Spish" Rurak, who has served as a career transition coach to several thousand management consultants as they left top-tier global firms.
In this episode, Spish shares observations on how to best prepare to transition out of a big firm and how to manage a successful job search.
If you’d like to connect with Spish, find him on LinkedIn here:
https://www.linkedin.com/in/zbigniew-spish-rurak-4131674/
If you are interested in joining a global community of top-tier independent management consultants, email Will Bachman at unleashed@umbrex.com
Our guest today is Lee Frederiksen, Managing Partner at Hinge, a branding and marketing firm specializing in professional services.
We discuss
- Researching your target client
- Developing a go-to-market strategy
- Benchmarking your marketing against that of high-growth firms
- How to differentiate your practice
Visit the website of Hinge Marketing to learn more – at https://hingemarketing.com/
Click on Hinge University tab to see the firm’s online course offerings – several of which you can sample for free, and on the Blog tab you may want to sign up to receive their thought leadership posts right to your inbox.
If you've got a question about independent consulting you'd like Will Bachman to answer in a future episode, email unleashed@umbrex.com
Our guest today is Adam Braff, a former McKinsey Partner who has held senior executive roles responsible for data and analytics, and is today an independent advisor to private equity firms, corporate senior leaders, and boards in multiple industries on how to extract more business value from their investments in data and analytics.
In this episode Adam shares several case studies of how he has helped clients get better results from their data, and he explains what roast chicken has to do with business intelligence.
I enjoy Adam’s blog posts, and you can sign up to receive his blog updates and read all about his work at
https://braff.co
If you'd like to receive the weekly Unleashed email which includes transcripts of each episode and bonus material, email Will Bachman at unleashed@umbrex.com
Our guest today is Jason Bay, the founder of Blissful Prospecting, a firm that helps B2B sales reps, SMBs, and nonprofits create sustainable revenue growth.
In our discussion, Jason explains to me the REPLY method that his firm created to guide the writing of cold emails to prospects.
REPLY stands for Results, Empathy, Personalization, Laser-focus, and You.
The way I connected with Jason is that he used his own methodology on me.
Jason researched me and this podcast, and then sent me a personalized video message of himself speaking to me, in which he mentioned this show, and in fact a specific episode of the show.
Here is a link to that episode Jason sent me:
https://embed.vidyard.com/share/RgRyiMAMGugfYPERrm3jyp?autoplay=1&vyemail=will.bachman%40umbrex.com&vydata[email]=will.bachman%40umbrex.com&vydata[name]=Will%20Bachman&vydata[messageId]=41TvW5ar9WC0DOhTZ
That is the first time anyone has ever reached out to me with a personalized video, and I thought it was a pretty powerful approach, partly because it is so unscalable.
Sending out 1,000 uncustomized LinkedIn connection requests can be automated or outsourced, but researching a target and recording a custom video message has a high signaling cost, and I wanted to learn more about this approach.
After having Jason explain to me how he creates and uses these videos using Vidyard, I think it is an approach that could work well for many independent professionals.
You can learn more about Jason on his firm’s website, https://BlissfulProspecting.com/
If you have questions you like me to answer on this show, or are interested in joining our global community of independent management consultants, email Will Bachman at unleashed@umbrex.com
Our guest today is David A. Fields, Umbrex member and the author of The Irresistible Consultant's Guide to Winning Clients: 6 Steps to Unlimited Clients & Financial Freedom.
David advises many boutique consulting firms, and over the years he has seen partnerships thrive and partnerships fall apart. On today’s episode, David shares some observations on how to make a partnership successful.
We also discuss the idea of adding an advisory board to your firm, and we spend a few minutes on how to select the right gift for a client.
Got questions about how to thrive as an independent professional? Email Will Bachman at unleashed@umbrex.com
Antonio Nieto-Rodriguez is a thought leader in the area of project management.
Antonio is the author of two books:
The Focused Organization: How Concentrating on a Few Key Initiatives Can Dramatically Improve Strategy Execution
And
The Project Revolution: How to Succeed in a Project Driven World
He has been awarded the title of Thinker of the Month by Thinkers50, and has presented on the topic of project management at more than 120 conferences around the world.
To learn more about his work, visit
https://antonionietorodriguez.com/#!/about
If you are interested in joining our global community of top-tier independent management consultants, email Will Bachman at unleashed@umbrex.com
Our guest today is Christina Ungaro, the Executive Vice President of Corporate Development at JLL.
In case you aren’t in the real estate world: JLL is the second-largest commercial real estate services firm in the world, ranked 189th on the Fortune 500, with revenue of $16 billion in 2018.
Christina was hired by JLL to build the corporate development group, and she has completed 32 acquisitions (mostly professional services firms) since she joined JLL.
In this episode, Christina gives me a quick primer on the commercial real estate services industry, discusses lessons learned in building her team, and – significantly if you are ever thinking of selling your practice, Christina shares what she looks for as a buyer when she is considering the acquisition of a professional services firm
To learn more about JLL, visit jll.com
To learn more about Christina, check out her LinkedIn profile, a link is in the show notes:
https://www.linkedin.com/in/christina-ungaro-0a17321/
If you are seeking to engage an independent consultant, or if you are an independent consultant and would like to join a global community, email Will Bachman at unleashed@umbrex.com
Our guest today is Josh Miramant, the Founder of CEO of Blue Orange Digital, a full-stack data science agency using machine learning to simplify business decisions.
In our discussion, Josh provides several case studies of how his firm is helping clients improve decisions through better predictions, including one project for a hedge fund that analyzes a wide range of data on job applicants to help the fund hire analysts who are likely to perform better.
I also learn a new term: data lake
Blue Orange regularly partners with consultants, and if you have a client you think you could benefit from their help, Josh would love to discuss it with you. You can reach Josh at: josh@blueorange.digital
And you can read more on their website: blueorgange.digital
If you are seeking the support of a top-tier independent management consultant, or if you are interested in joining our global community of consultants, email Will Bachman at unleashed@umbrex.com
Our guest today is Stephen Redwood, who has been a Partner in the Organization practices at PricewaterhouseCoopers, McKinsey & Co., Oliver Wyman, and Deloitte.
He is now running his own firm, Redwood Advisory Partners, where he helps clients develop a high performing organization and an exceptional employee experience.
In today’s discussion, Stephen explains what an organizational design project is all about, and he also discusses his other business, Tri Endeavors, where he coaches elite triathletes.
To learn more about Stephen’s triathalon coaching practice, visit
http://triendeavors.com/
And To learn more about Stephen’s consulting practice, visit
https://redwoodadvisorypartners.com/
If you are interested in joining a global community of top-tier independent management consultants, or if you are looking for support from an independent consultant, contact Will Bachman at unleashed@umbrex.com
Our guest today is Seiya Vogt, the VP of Growth at Boxed – where he is responsible for Marketing and B2B Sales.
Boxed calls itself “the easiest way to stock up and save for your household essentials."
In today's discussion, Seiya provides a behind the scenes view of the tools available to the modern marketer, and along the way he explains why direct mail – that’s right – good old hard-copy mail – is making a comeback.
After this episode you may be inspired to stock up on a bulk order of household cleaners or snacks or health and wellness products – if so, check out their website: boxed.com
Sign up for their emails to get some coupons and see Seiya’s team in action.
You can learn more about Seiya’s background on his LinkedIn profile:
https://www.linkedin.com/in/seiya/
Unleashed is produced by Umbrex, the world's first global community connecting top-tier independent professionals with one another. To request to join, or to inquire about getting consulting from one of our members, email Will Bachman at unleashed@umbrex.com
Our guest today is Tim Hughes, who has written the book on social selling; he is the author of Social Selling: Techniques to influence buyers and customers, as well as Smarketing: How to achieve competitive advantage through blended sales and marketing.
As you’ll hear from Tim, social selling is not actually about selling, or at least not about trying to sell – it is about building relationships.
Tim’s LinkedIn headline is: Should have played Quidditch for England, and in today’s discussion he explains why he leads with that.
Based on Tim’s advice, I have updated my own LinkedIn Headline and Summary, and since I’ve done that I’ve received a couple unsolicited comments in favor – so I’ll vote in support of Tim’s recommendations.
Tim’s firm is called Digital Leadership Associates and you can learn more about their work on their website: dlaignite.com
Unleashed is produced by Umbrex. If you are an independent consultant interested in joining our community, or if you are looking to hire an independent consultant, reach out to Will Bachman at unleashed@umbrex.com
Our guest today is Brian Hecht, who freaked out his family in 1994, just two years after graduating from Harvard College, by leaving a perfectly fine job to join an Internet company – before that was a thing.
Brian went on to have a successful career as an Internet entrepreneur, and today he is a Venture Partner at a NYC startup accelerator called Entrepreneurs Roundtable Accelerator. Check them out at eranyc.com
And as a hobby, he, along with his cousin Rachel Dodes, hosts the very popular and hilarious podcast This Week in Nope, in which they dissect the most abominable news of the week and shut it all down, usually over whiskey.
Unleashed is produced by Umbrex, the world's first global community connecting top tier independent management consultants with one another and with clients.
To inquire about joining our community or engaging one of our members on a project, email Will Bachman at unleashed@umbrex.com or visit www.umbrex.com
Our guest today is David A. Fields, the author of The Irresistible Consultant's Guide to Winning Clients: 6 Steps to Unlimited Clients & Financial Freedom.
David is leading an upcoming professional development program for independent consultants that I thought could be valuable for many of the listeners of this show, so I asked David if he’d share an overview of the Solo Practice Accelerator. The next one is August 18-19, 2019 in San Francisco, CA.
Details: https://members.davidafields.com/solo-practice-accelerator
If after listening to this episode you are interested in attending but those dates don’t work for you, then subscribe to David’s blog and you’ll get notified of the next one.
David kindly offered a bonus for listeners of Unleashed who attend the Accelerator – if you attend the program and let him know you heard about the program on this show, he will schedule an hour-long, private one-on-one phone call with you to discuss your practice.
David has been a popular guest on the show three times before:
Episode 001, where David shares highlights from his book
Episode 170, where David discusses how to make outbound calls
And Episode 172, where David shares his approach to setting up a CRM system.
If you are interested in hiring an independent consultant or joining a global community of independent consultants, email Will Bachman at unleashed@umbrex.com
Our guest today is Hi Leva, the SVP of Sales at Oasis Financial.
In today's discussion, Hi shares key lessons learned from his career as a sales leader.
We discuss recruiting a sales team, compensation, the importance of follow-up, CRM systems, how to get the most out of attending a convention, and other sales topics.
You can learn about Hi’s company at oasisfinancial.com
And you can learn more about Hi’s background on his LinkedIn profile, and a link is in the show notes
https://www.linkedin.com/in/hileva/
If you are interested in hiring an independent consultant or joining the global community of independent consultants that I started, email me, Will Bachman, at unleashed@umbrex.com
Our guest today is Scott Friesen, the SVP of Strategic Analytics at Echo Global Logistics, a company which serves as a broker that connects companies who want to ship something by truck to the trucking company that will give the best rate, a non-trivial exercise considering that there are 40,000 trucking companies in the United States.
In our discussion, Scott gives me an overview of the two major categories of trucking: less-than-truckload and full truck load. We then explore some of the ways that analytics is changing the trucking industry, and the entry of new players including, you guessed it, Uber.
To learn more about Echo Global Logistics, go to echo.com
And to learn more about Scott, check out his LinkedIn profile – the link is in the show notes:
https://www.linkedin.com/in/scottpfriesen/
If you are interested in hiring an independent consultant or joining our global community of independent consultants, email Will Bachman at unleashed@umbrex.com
Our guest today is Liston Witherill, a sales coach and trainer who helps non-sales people sell more client services by staying curious and providing more help to their clients.
Liston has a set of great resources available to download on his website, just go to liston.io and click on the Resources tab, where you’ll find sales email templates, a CRM spreadsheet, a sales call checklist, a list of 32 ideas for lead generation, and more.
If you are looking to hire an independent consultant, or if you would like to join the global community of independent consultants that I started, email Will Bachman at: unleashed@umbrex.com
Our guest today is Logan Sachon, an insurance expert at Policygenius who focuses on life insurance.
In this episode, Logan explains to me the types of life insurance, how to select a life insurance company, how to get a quote, and some thumbrules on how much coverage to buy.
After our discussion, Logan emailed me to clarify one thing she said. I asked her the chance of a healthy 35 year old man dying before he retires, and she told me less than 2%. After we spoke she looked it up and the actual chance is closer to 0.65%. Of course, your mileage may vary.
Policygenius is a NYC-based tech startup who goal is to make “insurance shopping faster, friendlier and more transparent for online consumers.” If you are shopping for insurance, you might check out their website: policygenius.com. They have a lot of useful info on their site, and a comparison tool that makes it easy to compare different providers.
If you like this episode, consider signing up for the Unleashed email – each week I’ll send you a summary of recent episodes, some recommended reading, and consulting tips. To sign up, visit askunleashed.com
If you are trying to find an independent consultant to help on a project, or if you are interested in joining our global community of independent consultants, email me at unleashed@umbrex.com
Our guest today is Mark Metry, who started a YouTube channel when he was 13 that gained 35,000 subscribers, and who started a company when he was 15 that generated six figures of income and became the #1 Minecraft server in the world. Oh, just a couple side projects.
Mark, now 21, runs a marketing agency and also happens to host a Top 100 podcast, Humans 2.0, whose guests have included some of my heroes such as Seth Godin.
To learn more about Mark, you can search for Humans 2.0 or visit his website: https://www.markmetry.com/
If you sign up for the Unleashed email at askunleashed.com, each week I’ll let you know about the latest episodes of the podcast, a book recommendation, and periodically, some amazing bonus materials.
Today's episode is a new feature here on Unleashed - a book recommendation.
I really loved the recently published book: The Art of Noticing: 131 Ways to Spark Creativity, Find Inspiration, and Discovery Joy in the Everyday, by Rob Walker.
Here is a link to Rob Walker's website page on the book:
http://robwalker.net/noticing/
If you sign up for the Unleashed email at askunleashed.com, each week I’ll let you know about the latest episodes of the podcast, a book recommendation, and periodically, some amazing bonus materials.
Jennifer Hartz sent me the following question:
"Will, I send out a newsletter via Mail Chimp about six times a year. I also publish these on my website. I figure I ought to put them on LinkedIn as well – do you have an opinion about whether I should make them LinkedIn articles or Posts? If they are posts, I'd need to be regularly active to address comments, right?"
I love Jennifer's newsletter - you can sign up to receive it on her website: https://corporatehartz.com/
I mention Mark Williams's podcast LinkedInFormed:
https://linkedinformed.com/
And here are how to update your LinkedIn settings to get an email when there is a comment on one of your posts or articles:
https://www.linkedin.com/psettings/communications-controls/email/updates-about-you
To receive the weekly Unleashed email, sign up at askunleashed.com
A listener asked for advice on how to set fees, and here are my thoughts.
In this episode I refer to, and strongly recommend, Chapter 22 of The Irresistible Consultant's Guide to Winning Clients: 6 Steps to Unlimited Clients & Financial Freedom, by David A. Fields
Visit askunleashed.com to sign up for the weekly Unleashed email - get a summary of each episode, book recommendations, and consulting tips.
Our guest today is Steve Woodruff, also known as the King of Clarity.
Steve is the author of Clarity Wins.
He helps individuals and businesses discover their professional DNA, define their offerings, target their ideal clients, and articulate their differentiating message.
You can learn more about Steve’s work at https://www.stevewoodruff.com/
Never miss an episode of Unleashed - sign up for our weekly email at askunleashed.com
Our guest today is David A. Fields, Umbrex member and the author of The Irresistible Consultant's Guide to Winning Clients: 6 Steps to Unlimited Clients & Financial Freedom.
In today’s episode, we discuss how to set up a CRM system for an individual consultant or boutique firm.
A bit more than a year ago, I attended a training session that David led on this topic, and I set up my CRM system exactly that way he describes on this show. I’ve found the simple setup that David suggests incredibly useful, and I highly recommend it.
While you can use his suggested setup with just about any program, I happen to use Pipedrive, which is the system that David uses and recommends to his clients.
David has a great blog that I highly recommend - check it out and subscribe at:
https://www.davidafields.com/blog/
Our guest today is Becca Braun, an innovator and writer whose longtime passion is capturing the voices of executives, entrepreneurs, and others in new and interesting ways.
Becca is an alum of Harvard Business School and Harvard College, and the President of Braun Ink, a ghostwriting firm that writes action-packed executive biographies and memoirs.
Learn more about Becca’s firm on their website, https://www.braunink.com/
To sign up for the weekly Unleashed email, visit askunleashed.com
Our guest today is David A. Fields, Umbrex member and the author of The Irresistible Consultant's Guide to Winning Clients: 6 Steps to Unlimited Clients & Financial Freedom.
David was my guest on the very first episode of Unleashed and it was great to have him back on the show.
In today’s episode, we discuss how to make outbound calls to the people in your network.
It is so much more comfortable to send an email.
It can be awkward to just pick up the phone and make a call.
David argues that picking up the phone is an incredibly effective means to reach out.
And that it is much more comfortable if you have a plan for how you want the call to go, and that’s exactly what David offers in this episode.
In our discussion, David mentions a script outline that he uses when making outbound calls – you can download a copy of that call outline for free on his website at https://davidafields.com/outreachscripts
While you are there, you might want to get access to the full script bank that David has created, and if you use the code Unleashed, you’ll get half off from now until June 1, 2019.
If you like the show, I invite you to subscribe to the weekly Unleashed email, where you’ll get summaries of each recent episode, book recommendations, and consulting tips. To sign up, go to askunleashed.com, or just shoot me an email at unleashed@umbrex.com
Our guest today is Katrin Siebenbuerger Hacki, who runs a boutique healthcare consulting firm based on Switzerland.
Katrin’s firm works with medical device, biotech, and other life sciences clients by providing marketing, sales, business developing, and funding services.
You can learn more about her firm’s work on their website:
http://www.medows.ch/
To ask me a question, download transcripts of past episodes, or sign up for the weekly Unleashed email which includes summaries of each show and other bonus features, visit
askunleashed.com
Is your LinkedIn headline totally generic? Something like "Independent consultant" or "Freelance consultant"?
This episode is about LinkedIn headlines that tell a story and capture the attention of potential clients.
To ask me a question, download transcripts of past episodes, or sign up for the weekly Unleashed email which includes summaries of each show and other bonus features, visit
askunleashed.com
This short episode is about the most powerful question for finding work - either a full time job or consulting projects.
To ask me a question, download transcripts of past episodes, or sign up for the weekly Unleashed email which includes summaries of each show and other bonus features, visit
askunleashed.com
Our guest today is Mark Minukas, an Umbrex member, McKinsey alum, and partner at the firm Co-Creation Partners.
Mark studied engineering at the Naval Academy and spent six years in the Civil Engineer Corps in the U.S. Navy before McKinsey, where he developed expertise in lean operations.
At Co-Creation Partners, he brings his hard-core engineering experience together with the deep cultural transformation expertise of his partner, Gaurav Bhatnagar.
Combining their expertise, their firm helps clients improve operations through a close focus on cultural change, and Mark discusses that work on this episode.
You can learn more about Mark’s work on the firm’s website:
http://www.cocreationpartners.com/
To ask me a question, download transcripts of past episodes, or sign up for the weekly Unleashed email which includes summaries of each show and other bonus features, visit
askunleashed.com
Our guest today is Nina Leffers, a McKinsey alum and partner in a boutique consulting firm Stahl Automotive Consulting.
Nina’s firm works with auto companies around the world on developing the vision and key specifications for their future models, and in this episode she walks us through some examples of how her team works with clients to design the key aspects of cars we’ll see on the road five years from now.
You can learn more about her work at
http://www.sac-group.eu/
To ask me a question, download transcripts of past episodes, or sign up for the weekly Unleashed email which includes summaries of each show and other bonus features, visit
askunleashed.com
The CEO might think that everyone in the organization is working on the CEO's top priorities.
It is worth checking that assumption.
To ask me a question, download transcripts of past episodes, or sign up for the weekly Unleashed email which includes summaries of each show and other bonus features, visit
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Complex projects need something more sophisticated.
But for simple projects, this simple set of three questions forms the basis for a robust weekly or monthly update:
-
Last month, what did we promise to do over the coming month?
-
What did we ACTUALLY get done over the past month?
-
What are we going to do over the next month?
This short episode elaborates.
To ask me a question, download transcripts of past episodes, or sign up for the weekly Unleashed email which includes summaries of each show and other bonus features, visit
askunleashed.com
I regularly speak with an executive leaving a corporate role, or a consultant leaving a firm, who asks me if it is possible to do independent consulting while doing a search for the next full time role.
My short answer is: not a good idea
My longer answer is: this episode
To ask me a question, download transcripts of past episodes, or sign up for the weekly Unleashed email which includes summaries of each show and other bonus features, visit
askunleashed.com
Our guest today is Cyndi Freeman, who has 20 years of experience as a storyteller and 8 years of experience as a storytelling instructor. At The Story Studio, she leads classes in storytelling for business, among other courses.
In this episode Cyndi shares some of her own stories and we discuss the key elements that every story ought to have.
You can learn more – and register for upcoming courses – at https://thestorystudio.org/corporate/
To ask me a question, download transcripts of past episodes, or sign up for the weekly Unleashed email which includes summaries of each show and other bonus features, visit
askunleashed.com
Our guest today is Afua Branoah Banful, an Umbrex member and McKinsey alum with a PhD in Economics from Harvard.
We discuss the spreading adoption of tele-health and other transformational medical technology.
To learn more about Afua (who goes by B.B.), visit her firms' website:
http://soundhealthadvisory.com/
To ask me a question, download transcripts of past episodes, or sign up for the weekly Unleashed email that includes bonus features of summaries of the latest episodes, go to
askunleashed.com
The 70-30 squared rule says that when you are in an initial context discussion with a client, the client should do 70% of the talking, and you should do 30%.
And of the time you spend talking, 70% of the time should be you asking questions, and 30% of your 30% should be you speaking declarative sentences.
Visit askunleashed.com to sign up for the weekly Unleashed email - summaries of each episode and bonus features.
A listener asked me if I recommend independent professionals get disability insurance, and this short episode is my response.
Short answer: yes, I encourage independent professionals to get long term disability insurance.
In this episode I discuss short term and long term disability insurance, six different aspects of coverage, and the process to expect to go through to obtain insurance.
Links I mention in the episode:
Show notes:
https://www.policygenius.com/disability-insurance/#whatislongtermdisabilityinsurance
https://www.nytimes.com/2010/02/06/your-money/life-and-disability-insurance/06money.html
You can sign up for the weekly Unleashed email (summary of each new episode, links to download full transcripts, other bonus features) at
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Use this episode for meditation or perhaps just as some white noise when you need to focus: ten minutes of the waves lapping on the beach at Chuburná, Yucatan, Mexico, where we stayed for a few days in July 2018.
Ask me a question, view transcripts of past episodes, and sign up for the weekly Unleashed email at:
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That is Matt Johnson, who runs a podcast production agency.
If you have thought about starting a podcast, but don’t want to deal with all the logistics and the marketing, his firm will take care of all the details so all you need to do is show up and share your wisdom, or interview the guests that Matt’s firm will book for you.
To learn more about Matt, visit his firm’s website
http://pursuingresults.com/
where there is also a link to schedule time to speak with Matt.
Ask a question, download transcripts of past episodes, and sign up for our weekly email at:
askunleashed.com
Our guest today is Kevin Stoneham, an independent consultant who is the former COO of PwC IT Services.
Kevin's current focus, DigiServ LLC, focuses on digital transformation, and we discuss in particular Kevin's experience with robotic process automation.
Learn more about Kevin at:
https://www.linkedin.com/in/kevinstoneham/
Ask a question, download transcripts of previous episodes, and sign up for the weekly Unleashed email at:
askunleashed.com
Our guest today is Peter Winick, who runs a firm called Thought Leadership Leverage.
His firm enables thought leaders, authors and gurus to monetize their content through books, keynote speaking, the creation of training services and products and consulting and assessment tools.
In our discussion, we start with the mistakes that people most often make when they think about building a thought leadership platform. And then we go through Peter’s process step by step, from setting a strategy for your thought leadership, to product design and monetization.
To learn more about Peter’s work, visit
https://thoughtleadershipleverage.com/
To ask a question or subscribe to the weekly Unleashed email, visit
askunleashed.com
Our guest today is Matt LeMay, the author of Product Management in Practice and his most recent book: Agile for Everybody: Creating Fast, Flexible, and Customer First Organizations.
In this episode, Matt discusses Agile for Everybody, which shows how to apply the principles of agile development from the world of software to the world of consulting and knowledge work.
You can find out more about Matt on his personal website: mattlemay.com
Matt is partners with Sunny Bates and Tricia Wang in a consulting firm named Sudden Compass, and you can learn about their work at
https://www.suddencompass.com/
Sunny Bates is one of the master connectors of the 21st century, and you can hear from Sunny on Episode 64 of this show.
Sign up for the weekly Unleashed email at:
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That is Nick Sonnenberg, a serial entrepreneur, author, speaker, and consultant.
Nick and a partner, Ari Meisel, founded Leverage, a high-end freelancer market place, and they built the business by using off-the-shelf tools such as Slack, Trello, and Zapier. Nick and Ari wrote a book about the experience titled Idea to Execution: How to Optimize, Automate, Outsource Everything in your Business.
Nick now regularly consults with clients on team productivity and how to get the most out of team productivity tools.
You can learn more about Nick’s freelancer staffing firm at:
getleverage.com
You can ask a question or sign up for the weekly Unleashed email at:
https://www.umbrex.com/unleashed-podcast/
Our guest today is Dave Nelson, who, if you’ve ever listened all the way through the credits of this show, you’ll recognize as the audio engineer of Unleashed.
Dave and I normally communicate by email, and this was the longest discussion we’ve had since we started working together 150 episodes ago.
In this episode, Dave shares tips on audio equipment for podcasters and some process tips for working with an audio engineer.
If you are looking for an audio engineer for your own podcast, Dave has expanded his team and does have some capacity available, and you can learn more at:
https://www.lensgroupmedia.com/
Here is a link to download the list of podcast equipment Dave recommends on the show:
http://bit.ly/DaveNelsonEquipment
You can ask a question and sign up for the weekly Unleashed email at:
https://www.umbrex.com/unleashed-podcast/
March 4, 2019 was the 230th anniversary of the day that the United States started operating under the U.S. Constitution.
Which seemed like a good occasion to do a reading, out loud, of the full text of the Constitution and the 27 Amendments, something I had never done before.
Our guest today is Tobin Slaven.
Tobin helps entrepreneurs build email lists, conduct conversations at scale, and then monetize those lists.
He is the host of a podcast that I’ve been enjoying: Stop Marketing Now, Do This Instead.
Tobin emphasizes the importance of engaging in a conversation with potential customers and building a relationship.
In explaining to me his approach to building remarkable, successful email lists, Tobin recalled his own sleepless nights, worrying about where his next client would come from and what he could do to move beyond word of mouth.
In this show we cover the nuts and bolts of which email platforms to use and how often emails should be sent as well as techniques to use email as a continuing conversation from which business can grow.
To learn more about Tobin and to find plenty of useful tips, visit tobinslaven.com
To ask a question or sign up for the weekly Unleashed email, visit
https://www.umbrex.com/unleashed-podcast/
Our guest today is Greg Albertyn, an expert in data governance, risk, and privacy compliance programs.
In this episode, we discuss, among other topics, aspects of GDPR that independent consultants should be familiar with. (GDPR is the General Data Protection Regulation enacted by the European Union)
Among my questions to Greg was, “Can a person send an email to someone without their prior approval?”
To learn more about Greg, visit his LinkedIn profile
https://www.linkedin.com/in/gregory-albertyn/
To ask a question or subscribe to the weekly Unleashed email, visit
https://www.umbrex.com/unleashed-podcast/
I'm often asked about the setup I use to record phone calls for the podcast, so I recorded this video.
There are plenty of tools to record a call on your computer - I wasn't able to find a good guide on how to set up equipment to record two separate tracks when using a phone, so I had to figure this out through a bunch of trial and error.
Here is a link to download the page illustrating the setup:
http://bit.ly/PodcastSetup
Our guest today is Amy Gross, a performance psychology consultant who runs a coaching practice called Pillars4Performance. Many of her clients are elite athletes, and that’s where we focus our discussion. In this episode we cover
how to focus on the controllables (instead of fixating on things outside your control)
how to using visioning exercises effectively
how to identify and overcome self-defeating narratives
how to identify your zone – and how to get into it
To learn more about Amy’s work, visit
pillars4performance.com
To ask Will Bachman a question or sign up for the weekly Unleashed email, visit:
askunleashed.com
Our guest today is Umbrex member Kevin Terrell, a McKinsey alum and independent consultant based in Minneapolis St Paul.
In addition to his consulting work, Kevin is the co-founder of Start Reading Now, Kevin read an article on how lower-income students tend to lose ground academically over the summer, and part of the reason is because they don’t read as much, and part of the reason for that is that lower-income households have fewer books in the house.
In this episode, Kevin shares the story of what he did next.
To learn more about Kevin’s non-profit, visit
startreadingnow.org
To learn more about Kevin’s consulting work, visit
katanaconsulting.com
To ask a question or sign up for the weekly Unleashed email, visit
askunleashed.com
Our guest today is Jonathan Stern, a former partner at Bain and the CEO and Founder of SnapStrat.
SnapStrat builds tools for its clients to bring prescriptive analytics and machine learning to the tasks of regularly recurring strategic decisions.
In this episode, he shares a case example of SnapStrat’s work with a top beauty products retailer, helping them use analytics to determine which free samples to give out.
To learn more about Jonathan, visit his firm’s website:
https://snapstrat.com/
To submit a question or sign up for the weekly Unleashed email, visit:
https://www.umbrex.com/unleashed-podcast/
Our guest today is Mary Kate Scott, a McKinsey alum who has been running her own boutique healthcare consulting firm, Scott & Company, since 2002. She has been a close friend and mentor of mine for years, and in this episode we cover a wide range of topics including:
-
Three things MK does before every proposal, including her five-factor rule for evaluating potential projects
-
The three phases her consulting practice has gone through over the past 17 years
-
Maintaining relationships with clients over time
To learn more about MK's practice, visit:
http://www.marykatescott.com/
To ask a question for me to answer on a future episode, or to sign up for the weekly Unleashed email, visit:
https://www.umbrex.com/unleashed-podcast/
Our guest today is Robin Albin, a brand strategist and brand sherpa based in the New York area.
Robin has invented – or reinvented – over fifty brands for startups and major corporations across many categories, with particular expertise in cosmetics, health and wellness, and fashion.
In our discussion Robin shares some case studies of how she works with clients to help them express the promise that the brand wants to make to its customers.
To learn more about Robin, visit her website,
www.insurgents.io
Submit your question to be answered in a future episode. Record and submit at: askumbrex.com
The weekly Unleashed email includes the transcript of each episode, book recommendations, and consulting tips.
Sign up at: https://www.umbrex.com/unleashed-podcast/
Our guest today is Jay Martin, who’s got over 25 years of management consulting experience, including time at Arthur D. Little and IBM Global Services and nearly 18 years as an independent consultant.
Jay has done a better job than anyone I’ve met at maintaining an exhaustive list of all his projects – the document is 18 pages long and includes the details on well over a hundred projects.
In this episode, Jay discusses how he started building this list and the benefits of keeping such a document.
To receive a copy of Jay's project list, sign up for the weekly Unleashed email at:
https://www.umbrex.com/unleashed-podcast/
To learn more about Jay, visit his LinkedIn profile:
https://www.linkedin.com/in/jay-martin-99a69812/
Our guest today is Brad Clark, who is a former management consultant – he was a Principal at Oliver Wyman. Later, he was the Chief Marketing Officer at The Motley Fool, and he has now built a holistic financial planning and investment management service, where many of his clients are consultants.
In our discussion, Brad describes the five financial planning tips he believes are essential for independent professionals: entity conversion, retirement planning, insurance, paying for college, and tax planning.
You can learn more about Brad's services on his website:
www.bradleyclark.com
The weekly Unleashed email includes a transcript of each episode, book recommendations, and consulting tips. Sign up at:
https://www.umbrex.com/unleashed-podcast/
There are two types of products:
Ones where we already know the story. Example: water.
And ones where the customers needs to hear the story. Example: chicha.
Are you selling water or chicha?
The weekly Unleashed email includes a transcript of each episode, book recommendations, and consulting tips.
Sign up at: https://www.umbrex.com/unleashed-podcast/
Our guest today is Michael Frankel who has an amazing background – he’s been a corporate attorney at Skadden Arps, an investment banker, a private equity advisor, VP level business development roles at GE, LexisNexis, CFO of two companies, and held board positions.
Michael is currently the Head of the Deloitte New-venture Accelerator.
Michael shares his perspective on a range of topics including
- how large consulting firms are setting up talent pools of independent consultants
- interim CFO roles
- how consulting firms are investing in Artificial intelligence to enable experts with technology
Here is Michael's profile on LinkedIn:
https://www.linkedin.com/in/frankelmichael/
Sign up to receive the weekly Unleashed email that includes a transcript of each episode, book recommendations, and consulting tips, at: https://www.umbrex.com/unleashed-podcast/
Our guest today is Fredrik Thomassen, CEO and Co-Founder of Konsus.com, an on-demand creative outsourcing service. Fredrik shared his ideas on the future of work (hint: he says that it’s remote work), as well as the way that he runs his own company using a hybrid structure where half his team is located in Oslo and the other half are based in San Francisco. We chatted about the tools he uses to coordinate his company’s activities, how remote work is going to change the employee evaluation process, the challenges of being able to work 24/7, and how his team’s ambition is for every company in the world to eventually have a Konsus subscription.
Fredrik says he is always open to chatting, and he values the many interesting conversations that have started with a simple email. You can reach him at his website: www.konsus.com or email him directly at fredrik@konsus.com.
Our guest today is Alisa Cohn, an executive coach, a writer, and a member of Marshall Goldsmith’s 100 Coaches. Marshall Goldsmith is considered by many to be the leading executive coach in the world, and Alisa shares the story of how she got to know him and get selected to join this exclusive group.
You can learn more about Alisa through her website, www.alisacohn.com, and while you’re there you can sign up for her newsletter, which she calls a “barrel of goodness.” You can also reach out to her on Twitter, @alisacohn.
The weekly Unleashed email includes transcripts of each episode, book recommendations, and consulting tips. Sign up here:
https://www.umbrex.com/unleashed-podcast/
Today’s guest is Lindsay McGregor, McKinsey alum and co-author of the book Primed to Perform. She and her co-author and former McKinsey Partner Neel Doshi created the concept of Total Motivation – or ToMo for short. Lindsay and Neel founded a consulting firm, Vega Factor, that works with clients to help implement the ToMo principles they describe in their book.
In this episode, Lindsay talks about her path to understanding what drives motivation, and the impact that it has had on her own life. Lindsay views each day as an opportunity to play, and helps organizations see how that same mindset can drive productivity and profitability.
Total Motivation is a measure of the degree to which individuals feel a sense of play, purpose and potential minus the degree to which they feel inertia and emotional and economic pressures.
Lindsay talks about how we all can use Total Motivation techniques to manage our personal productivity and aspirations, shifting our focus from numerical, outcome-based goals to performance-oriented ones, including learning new skills to help us get where we want to go.
Lindsay sand her co-author Neel Doshi are on a mission to introduce ToMo to the world, and hope that by 2050 everybody on Earth works in a high ToMo organization.
To learn more about Total Motivation and Lindsay, visit the website: www.PrimedtoPerform.com. It has a short survey you can take to gauge your own ToMo, and a contact form that you can fill out to learn more about their company and their mission.
To receive the weekly Unleashed email, that includes a transcript of each episode, book recommendations, and consulting tips, sign up at:
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This episode concludes our six-part podcast miniseries on how to improve the client experience.
In this episode, I share tips on how to provide a great client experience during the post-project
Episodes 129-133 cover the five phases of a project lifecycle:
- The proposal phase
- Onboarding / kickoff phase
- Project execution
- Wrap-up
- Post-project
I learned this five-part framework from David A. Fields, and encourage everyone to visit his website:
https://www.davidafields.com/
If you subscribe to the weekly Unleashed email, you’ll receive a summary checklist that includes the points from the whole miniseries
https://www.umbrex.com/unleashed-podcast/
This is part five in a six-part podcast miniseries on how to improve the client experience.
In this episode, I share tips on how to provide a great client experience during the wrap-up phase.
Episodes 129-133 cover the five phases of a project lifecycle:
- The proposal phase
- Onboarding / kickoff phase
- Project execution
- Wrap-up
- Post-project
I learned this five-part framework from David A. Fields, and encourage everyone to visit his website:
https://www.davidafields.com/
If you subscribe to the weekly Unleashed email, you’ll receive a summary checklist that includes the points from the whole miniseries
https://www.umbrex.com/unleashed-podcast/
This is part four in a six-part podcast miniseries on how to improve the client experience.
In this episode, I share tips on how to provide a great client experience during the project execution phase.
Episodes 129-133 cover the five phases of a project lifecycle:
- The proposal phase
- Onboarding / kickoff phase
- Project execution
- Wrap-up
- Post-project
I learned this five-part framework from David A. Fields, and encourage everyone to visit his website:
https://www.davidafields.com/
If you subscribe to the weekly Unleashed email, you’ll receive a summary checklist that includes the points from the whole miniseries
https://www.umbrex.com/unleashed-podcast/
This is part three in a six-part podcast miniseries on how to improve the client experience.
In this episode, I share tips on how to provide a great client experience during the onboarding / kickoff phase.
Episodes 129-133 cover the five phases of a project lifecycle:
- The proposal phase
- Onboarding / kickoff phase
- Project execution
- Wrap-up
- Post-project
I learned this five-part framework from David A. Fields, and encourage everyone to visit his website:
https://www.davidafields.com/
If you subscribe to the weekly Unleashed email, you’ll receive a summary checklist that includes the points from the whole miniseries. Sign up here:
https://www.umbrex.com/unleashed-podcast/
This is part 2 in a six-part podcast miniseries on how to improve the client experience. Episode 128 introduces the series.
In this episode I discuss 29 suggestions for how to improve the client experience during the proposal phase.
In Episodes 130-133, I'll be covering the next four phases in a project lifecycle:
- The proposal phase
- Onboarding / kickoff phase
- Project execution
- Wrap-up
- Post-project
I learned this five-part framework from David A. Fields, and encourage everyone to visit his website:
https://www.davidafields.com/
If you subscribe to the weekly Unleashed email, you'll receive a summary checklist that includes the points from the whole miniseries. Sign up at:
https://www.umbrex.com/unleashed-podcast/
This episode introduces a six-part miniseries on steps consultants can take to improve the client's experience across the five phases of a consulting project:
- The proposal phase
- Onboarding / kickoff phase
- Project execution
- Wrap-up
- Post-project
I learned this five-part framework from David A. Fields, and encourage everyone to visit his website:
https://www.davidafields.com/
If you subscribe to the weekly Unleashed email, you'll receive a summary checklist of all the suggestions from this client experience miniseries. To sign up, visit:
https://www.umbrex.com/unleashed-podcast/
Our guest today is Ciaran Bossom, a digital marketing expert and independent consultant.
Ciaran was the SVP of Strategy at VaynerMedia and most recently the Chief Digital Offier at Brown University. He has worked at several other digital agencies and held roles on the client side as well.
Connect with Ciaran at: https://www.linkedin.com/in/ciaranbossom/
To receive the weekly Unleashed email that includes transcripts of each episode, book recommendations, and consulting tips, visit:
https://www.umbrex.com/unleashed-podcast/
Not every job has a fixed location, but job-posting websites seem to think they do.
There should be an option to list "Remote" as the location.
Right before Christmas, I went with my family to an open rehearsal of the New York Pops at Carnegie Hall. It was a lot more fun than going to the formal, black tie performance later that evening.
It made me think - how can I make my interactions with clients more like that rehearsal - loose, creative, fun, authentic, human - instead of like the formal performance.
If you haven't already, consider signing up for the weekly Unleashed email - you'll receive a transcript of each episode, book recommendations, and consulting tips:
https://www.umbrex.com/unleashed-podcast/
I discuss four quadrants on a classic 2x2 matrix
Vertical axis: willingness to take the initiative
Chutzah = high willness
Compliance = low willingness
Horizontal axis: openness to new information
Humility = high openness
Arrogance = low openness
Adopting a five decade time horizon allows you to make rewarding investments in skills, relationships, knowledge, and your health that a shorter time frame would suggest won't pay off.
You probably wouldn't hire a graphic designer or a wedding photographer without looking at their portfolio.
Independent consultants ought to have a portfolio as well - samples of sanitized work you can share with potential clients.
I've found that many independent consultants do NOT have a portfolio, however, and here are some thoughts on how to create one.
To receive the weekly Unleashed email, which includes the transcript of every episode, consulting tips, and book recommendations, sign up here:
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Our guest today is Michael Zipursky, who runs a firm called Consulting Success. Michael has written multiple books on consulting and he serves as a coach to consultants, helping them grow their practice.
You can learn more about Michael and get in touch via his website, consultingsuccess.com
To receive the weekly Unleashed email, which includes the transcript of every episode, consulting tips, and book recommendations, sign up here:
https://www.umbrex.com/unleashed-podcast/
Our guest today is Jonathan Mann, who holds the Guiness World Record for Most Consecutive Days Writing a Song. He began his Song-a-Day project on January 1, 2009, and the upcoming New Year’s Day will mark an even ten years of writing, and recording, and publishing online, one new song every day.
His story is an amazing and inspiring example of how showing up regularly, creating content and sharing it with the world, can open up opportunities that we have not even imagined.
In our discussion, Jonathan shares what happened on the day one of his songs was used to open a Steve Jobs press conference, and how that breakthrough moment led to him becoming the Conference Troubadour.
As the Conference Troubadour, Jonathan is hired to attend conferences. He listens to the sessions over the course of the day and composes a song that includes the key messages of the event, and he closes the conference by singing the song with the attendees, since he always includes a chorus that he teaches to the audience.
About 90% of songs on the radio are about love, as if that was the only topic worth singing about. Jonathan’s songs are incredibly inventive and cover everything else. He was attended conferences, and written songs about, topics as diverse as the National Apartment Association, medical case management, and internal company communications.
One of my favorites of the songs he has posted to Youtube is the iOS Autocomplete Song, in which the entire lyrics are composed by the autocomplete function on an iPhone.
You can learn more about Jonathan on his website: https://www.jonathanmann.net/
There you can reach out to him about attending your next conference, or for a person or a business commission. In addition to his conference work he will compose a song to celebrate a birthday, anniversary, or other special event, or a song about your company.
In this episode we have a few samples of his work, and I hope you enjoy the discussion as much as I did.
Side note: if you visit https://www.umbrex.com/unleashed-podcast/
you can sign up to receive the weekly Unleashed email, that includes a transcript of every episode, book recommendations, and consulting tips.
Do the filenames you use demonstrate right-side-up thinking?
That is, are you naming your files from your perspective, or from your client's perspective?
Small cues matter.
We all have a choice.
Is your business closed when closed?
Or open when closed?
How will you choose?
Our guest today is Robin Colucci, who is a book writing coach. If you are thinking of writing a non-fiction book to advance your career, Robin is someone who would help you think through the strategy of the book to increase the odds that all the effort you put into creating the book will have the impact you hope to achieve.
In this episode, we discuss the questions that Robin asks her clients and how to think through who is the audience of a book, what that audience is already looking for, and how to serve that need.
You can learn more about Robin’s services and get in contact with her on her website: http://robincolucci.com/
If you like this episode, consider signing up for the weekly Unleashed email, which includes transcripts of every episode, book recommendations, and consulting tips. Sign up at:
https://www.umbrex.com/unleashed-podcast/
Our guest today is Danna Staaf, an independent science writer and the author of Squid Empire: The Rise and Fall of the Cephalopods. Danna received a PhD from Stanford University in Marine Biology and Biological Oceanography, and then rather than continuing on an academic track, she decided to become a science communicator, rather than a science generator.
In this episode we discuss what makes squid so fascinating and how Danna has created a successful career as an independent science writer.
You can follow Danna on Twitter at @DannaStaaf and on her website: http://www.cephalopodiatrist.com/p/home.html
Our guest today is Nitin Rohatgi, who is the co-founder of Enroute Consulting, a research firm based in India.
Nitin’s firm supports independent consultants around the world, many of them McKinsey alums. I've been a client myself, and I’ve been very impressed by the quality of his firm’s work. With about twenty employees, his firm typically will pull together background research using secondary sources as well as ten or so proprietary data sources they subscribe to. They have deep experience in the approach used by top consulting firms. You can learn more about Enroute and get in touch via their website:
http://www.enroutellp.com/
Our guest today is Christopher McKenna, a Reader in Business History and Strategy at Said Business School at the University of Oxford. Chris is the author of The World’s Newest Profession: Management Consulting in the Twentieth Century, which was an absolutely eye-opening book for me, and I’d say is a must-read for any management consultant interested in the history of our profession.
Here is a link to Chris's bio page at Oxford:
https://www.sbs.ox.ac.uk/about-us/people/chris-mckenna
Our guest today is Michelle Welsch, a social worker by training, who is leading an extraordinary life – she has organized major events in New York City for clients including Seth Godin, and for the past five years, she has been running Learning House.
Learning House is focused on education and leadership. To learn more, visit www.learninghousenepal.com. I got to know Michelle through dinners that she organizes in New York City – we talk about those dinners on the show, and you can learn more about them on her website: http://www.michellewelsch.com.
If you visit her site, you can download a free ebook that Michelle wrote: How to host a dinner party that gets everyone talking.
Our guest today is Rosina Samadani, a long-time friend who was my second Engagement Manager at McKinsey, and who provided me with invaluable advice when I was starting out as an independent consultant ten years ago.
For a dozen years, Rosina ran a very successful boutique consulting firm, Capella Advisors, after leaving McKinsey. She is the founder of Truth On Call, which provides fast turnaround quantitative market research for the healthcare industry, and DocNews, which was acquired by American Medical Communications and relaunched as DocWire.
Since 2015 Rosina has been the CEO of Oculogica, an innovative medical device company that is building devices that use eye-tracking technology to detect Traumatic Brain Injury. You can learn more about Oculogica at http://www.oculogica.com
Her team members all work remotely, and in this short episode we discuss the tools her team uses to stay connected, in particular, Zoom and Slack.
So a professional comedian and management consultant walk into a bar...
Actually, that's just Anish Shah getting a drink.
Anish Shah is a McKinsey alum and professional comedian who does corporate gigs around the world as well as independent management consulting.
In this episode, Anish shares the story of how he built his comedy career, and we’ll hear a clip from one of his performances.
Check out videos on his website, https://www.anishcomedy.com/videos, where you can also sign up on his mailing list to get notified of upcoming shows, or reach out to him about booking him for your corporate or charity event.
Earlier this month, I visited London, Amsterdam, Paris, Munich, and Zurich to meet up with independent management consultants.
While I originally imagined I would fly from one city to another, I ended up taking the train from London all the way to Zurich, and it was fantastic.
In this short episode, I share five reasons why you should take the train in Europe instead of flying between cities, and some tips from a train-riding novice.
Our guest today is Zachary Schrag, a Professor of History at George Mason University.
Zach has been a close friend of mine for nearly three decades, and I asked him on the show to share some practical tips that management consultants can learn from a professional historian.
Zach gives me some advice on how to read a non-fiction book to get the most value (hint – read the introduction and the conclusion first.) He also shares some book recommendations and discusses five core aspects of the historian’s approach.
Zach has prepared this list of recommended reading for the intelligent, generalist reader:
https://historyprofessor.org/reading/a-laypersons-reading-list-in-american-history-2018/
How do you pay a subcontractor?
In this episode, I try to answer that question, sharing ten years of lessons learned, covering:
1) How do you actually transfer the money, covering options including check, PayPal, wire transfer, ACH, and bill.com
2) Tax implications, W9, 1099, and 'nexus issues' you need to be aware of
3) What to ask your subcontractor for in terms of an invoice
4) How to track payments to subcontractors
For over five years, Marni organized “Go and See” events for McKinsey, in which McKinsey clients or prospective clients would take a field trip to visit other McKinsey clients that had gone through some kind of transformation project with McKinsey’s help.
On this episode, Marni shares her suggestions on what it takes to run a successful go-and-see, and the benefits to the past clients, the potential clients, and the consultant who organizes the event.
After this episode, perhaps you’ll consider connecting two or more of your own clients. And if you’d like Marni’s help with that, she is now an independent professional. Her LinkedIn URL is: https://www.linkedin.com/in/marni-fechter/
Michael Brennan is the former CEO of the United Way of Southeastern Michigan, and now the Co-Founder and CEO of Civilla, a Center for Social Innovation rooted in human centered design to help courageous leaders tackle some of the toughest social issues.
Michael decided to devote his energies to fixing a problem in Michigan:
The entry point to Michigan's public benefit system is an application that is over 40 pages long. With over 1000 questions and more than 18,000 words it is the longest application of its kind in the United States.
That application generated massive headache for residents trying to obtain benefits, many who got overwhelmed by the process and just never applied.
It also generated unnecessary cost for the state to process the massive pile of paperwork.
Michael tells a compelling story with valuable lessons for any consultant working to build alignment across multiple stakeholders.
To communicate their findings and recommendations, Civilla set aside PowerPoint. They build an immersive experience in their office that senior state politicians, journalists, non-profit leaders, and other could walk through to really feel what applicants for public benefits got through.
Do check out their website, for visuals and to learn more:
www.civilla.com
Our guest today is Jeanne Martinet, the author of The Art of Mingling: Fun and Proven Techniques for Mastering Any Room.
I’ve always been a pretty strong introvert and never enjoyed mingling-type events very much – until I read this book about fifteen years ago.
The book was eye-opening for me, and while I would not say that I’m good at mingling, the techniques in this book at least help me survive and even enjoy myself.
So it was a huge amount of fun to speak with Jeanne and discuss the advice in the book and how she came to write it.
If you’d like to get better at mingling, I strongly recommend Jeanne’s book.
Our guest today is Dr. Joshua Sharfstein, the author of a fantastic new book titled The Public Health Crisis Survival Guide: Leadership and Management in Trying Times, published by Oxford University Press.
This book is a great read for any leader, not just those in public health, since the lessons are so broadly applicable, and the stories are so fascinating. Also recommended for consultants who want to know how to advise a client through a crisis.
Josh is a physician and a public health leader who has held senior leadership roles at the city, state, and federal level. He’s been the Commissioner of Health for the City of Baltimore, the Principal Deputy Commissioner at the FDA, and the Secretary of the Maryland Department of Health and Mental Hygiene. And he is currently a Vice Dean at the John Hopkins Bloomberg School of Public Health.
In this episode, Josh shares stories of crises he faced – include one on the very first day on the job.
The Public Health Crisis Survival Guide is not a dry manual – it is full of absolutely amazing stories – including the story of Frances Kelsey, the heroine of the FDA, who saved an untold number of American children from being born with birth defects because of her courageous refusal to approve thalidomide, despite industry pressure.
The book has very practical advice on how to recognize a crisis, manage a crisis, communicate through a crisis, and work to prevent the next crisis, and it is highly recommended.
Our guest today is a hero of mine, Ethan Rasiel, a McKinsey alum and the author of The McKinsey Way and The McKinsey Mind.
I read The McKinsey Way before I got interviewed by McKinsey – it helped me understand the Firm, and, well, I got an offer.
In this episode, Ethan shares the story of how he got the idea for the book, how he did the research, and the reaction of the Firm.
Our guest today is Jessica Rhodes, who runs a firm called Interview Connections.
They help their clients get booked as a guest on podcasts.
Let’s say you want to raise your visibility by being on someone’s show.
Jessica’s firm will come up with a list of podcasts that would be a good fit for your expertise and the audience you are trying to reach. And then they work to build relationships with hosts so they can get you booked as a guest.
Their website is https://interviewconnections.com/
Tiffany Pham is a mogul, and she wants you to be a mogul too.
Tiffany is the Founder and CEO of Mogul, a platform reaching 18 million women per week – users can read trending content, take courses, solicit advice from other members, find job opportunities. Visit onmogul.com
Mogul organizes an annual conference called Mogul X, billed as the modern millennial classroom, and the next one is this Saturday, September 8 in New York City – topics include Finding your mentor, finding your purpose, Building resilience, building your financial future, side hustles, building a business to work remotely – looks like an awesome day. Registration fee is $250, but Tiffany kindly offered a discount code for listeners of this show – enter the code Unleashed at checkout and you can register for just $99. Or use this link: http://bit.ly/2wC5gAr
Tiffany is ALSO the author of a new book out today, You Are a Mogul: How to Do the Impossible, Do it Yourself, and Do it Now.
Tiffany is truly an inspirational leader, and I hope you enjoy this discussion.
Our guest today is Umbrex member and Booz alum Wissam Kahi, who’s been a close friend of mine since we sat together in the same cluster at Columbia Business School.
In parallel with running his successful consulting practice, Wissam, together with his sister, has started an amazing social enterprise called Eat Offbeat. https://eatoffbeat.com/
Eat Offbeat delivers authentic and home-style ethnic meals that are conceived, prepared and delivered by refugees resettled in NYC.
Eat Offbeat was the recipient of WeWork's global creator awards and has been featured in dozens of major publications.
At a time when refugees may not be feeling the most welcome in the United States, Eat Offbeat is creating jobs while also helping to build bridges.
And their food is delicious – I’ve hired Eat Offbeat to cater several events that I’ve run and they always get rave reviews.
Check them out online at Eat Offbeat – and if you’ve got an event in NYC, you can’t miss by having them prepare your meal.
Nayla Bahri is a former Dean of Students at Columbia Business School who has a PhD in Adult Learning and Leadership.
Nayla interviewed professionals who lost their jobs during the Great Recession, and studied their future trajectory.
After that setback, some truly flourished, and ended up far better off than before they got fired.
Some managed to get back to a similar role and their career plateaued.
Some got derailed and didn’t really recover.
Nayla sought to identify the factors that differentiated those groups, and the good news is that it wasn’t personality or something innate, but behaviors that are under our control.
In today’s episode, Nayla shares the key insights from her research on the five behaviors that differentiated those who flourished after a career setback.
Louis Hyman is McKinsey alum and Associate Professor of Economic History at the School of Industrial and Labor Relations at Cornell University.
In this episode we talk about his new book: Temp: How American Work, American Business, and the American Dream Became Temporary.
The gig economy is not a new phenomenon – this book explores how we got to where we are today. It weaves together the stories of Manpower,Inc. McKinsey & Co., the Bracero program that legally brought seasonal farm laborers from Mexico to the United States.
There is also the story of how accounting firms became the big technology consulting firms. And how consultants helped encourage the rise of big conglomerates and then the reorganization and restructuring of those same companies. Fascinating throughout. To learn more, visit www.LouisHyman.com.
Chara McGill runs The RMG Group, what has traditionally been called a bookkeeping firm, with about 20 employees based in New York City.
Chara suggests a different term for the work her firm does instead of bookkeeping – she calls it “internal accounting operations,” since the work goes well beyond the traditional bookkeeping tasks of general ledger entries.
In this episode, Chara shares her advice for independent professionals on how to do the bookkeeping yourself, the signs that it may be time to outsource the work, and how to find a firm who will meet your needs.
https://www.thermggroup.com/
Our guest today is Dirk Hanschur, the CEO of Log-hub, a firm that has created a range of supply chain analytics tools that work as Add-ons to Microsoft Excel.
In this Episode, Dirk explains a selection of these apps which include geo-coding, distance calculator, live tracking, shortest path calculator, milk run optimization, and more.
Log-hub is happy to partner with independent consultants, who can become authorized resellers of the software.
A link to their website is in the show notes.
https://www.log-hub.com/supply-chain-apps/
To bring her whole self to the game, the business athlete
- Stays physically fit, flexibility, strength, cardiovascular fitness – because in long days at work, physical fitness supports mental alertness
- She insists on getting enough sleep
- She practices some form of mindfulness, to remain centered in the midst of inevitable crises
- She finds a coach who will help her keep improving her game through deliberate practice
- She puts time into mastering the basics until they become automatic -
- She studies the competition to understand their moves
- She regularly reviews, with an objective lens, her own performance, identifying what went well and what can be improved
- She is motivated not by standing on the medal podium, but the satisfaction of performing at the highest possible level
- She compares herself, primarily, not to other athletes, but to her own performance yesterday
- She looks out along the full arc of her future career, and not just to the next competition.
- She phases out from her life acquaintances who are a drag on her energy rather than a contribution to it
Thanks to Michael Feiner, who, in his course "High Performance Leadership" at Columbia Business School, introduced me to this concept of the business athlete.
In which the Engineer Officer told me that he expected me to get out of the wardroom and put my eyeballs on the jobsite. The lesson has carried over to my consulting career.
Nick Craig is the author of Leading from Purpose: Clarity and the Confidence to Act When It Matters Most, published in June 2018.
Since 2006, Nick’s firm, Core Leadership Institute, has helped more than 10,000 leaders discover and lead from purpose.
In this episode, Nick shares his perspective on:
- What purpose is
- How to discover your purpose
- The benefits of leading from purpose
While his firm primarily leads private workshops within organizations, they do have two workshops coming up that are open to the public:
Boston from October 18-19, 2018
London from December 4-5, 2018
Learn more on their website at coreleader.com
Certain evolutions on a submarine require the Commanding Officer's approval. This short episode is what I learned from asking permission.
The same principles can be applied in any corporate environment.
The day I reported to my submarine, I was given a stack of qual cards, one of the best training technologies ever. Do you want new hires to get up to speed quickly? Then consider giving them a qual card so they can take charge of their own learning.
As a young ensign newly reported to my submarine, I handed the Engineer Officer a draft that didn't meet his standards. This short episode is the story of when I learned about the concept of completed staff work.
Every independent professional needs to determine his or her internal billing rate, that is, what is your time worth to you, in dollars.
Most independent professionals I've met have not thought this through, and this leads them to spend time on low-value activities that should be outsourced.
I recently received an email with the subject line: BS Questions. Hmm - not very professional, I thought.
This short episode provides some thoughts on abbreviations, and one thing I do with abbreviations at the beginning of every study.
I’ve been working on eliminating decisions from my life wherever possible and replacing decisions with habits and routines.
One area in particular that I’ve focused on for the past few years is my morning routine. I’ve tried adding and removing elements to see what works best for me.
In this episode, I share the current version of my morning routine, which helps me win the day.
I don't suggest you adopt my routine, but I do encourage you to find a routine that works for you.
A book on the topic I recommend is My Morning Routine: How Successful People Start Every Day Inspired, by Benjamin Spall and Michael Xander.
Yify Zhang, a McKinsey alum, is also a singer - songwriter - violinist. In this episode, Yify shares how she combines her music with a career as an independent consultant.
Do visit Yify's website, where you can stream all her songs, watch her music videos, and find out the dates of her upcoming live performances:
http://www.yifyzhang.com/
McKinsey taught me this framework - the four conditions that are required to drive behavior change:
1) Understanding and commitment
2) Skills
3) Role modeling
4) Formal mechanisms
This short episode gives an overview with an example of how to apply the framework.
This is a story about the actual wedding photographer who took the pictures at my wedding, Drew, and his fictional doppelgänger, Drew Prime.
Thirty years ago I stood at attention and, multiple times per day over the course of ten days, shouted "This midshipman has no excuse, sir!" What I learned from this experience at orientation before starting ROTC has proved to be a valuable lifelong lesson in extreme ownership.
Ready, Set, Go! is a great way to start a footrace.
For any artistic or entrepreneurial project, not so much.
When you have a new project in mind, there is no Ready. There is only Go.
Asking questions with the mind of a child can yield new insights. Here's a short episode on what a friend learned when his daughter asked a doorman why the soles of his shoes are so thick.
You wouldn't hire a plumber who isn't comfortable using a wrench, or a lumberjack who can't handle a chainsaw. A professional needs to master the tools of the trade.
For independent consultants, a fundamental tool is Excel. For most, it isn't necessary to program in Visual Basic or write macros, but it is essential to master all the basic tools, including, for example, pivot tables, vlookups, if functions, date functions.
In this short episode, I share some suggestions on how to sharpen your Excel skills if they are rusty, and some particular Excel tools to prioritize learning.
Per Sjofors runs a firm called Sales for Profit – they have developed survey tools to measure a customer’s willingness to pay, and the help their clients
- determine what marketing method is most effective in their market
- which advertising targets the company should focus on
- which product features drive the highest willingness to buy
- and the optimum price of a given product or service
In this episode, Per gives an overview of his firm’s methodology and how they work with clients.
One thing Per told me that surprised me is that he is getting a substantial number of leads from Quora. He’s been answering questions on Quora, establishing himself as an expert there, and it is actually leading to business.
You can learn more about Per’s firm at https://www.sales4profit.com/
Are you thinking about transitioning to independent consulting?
This episode provides eight steps you can take now to set yourself up for success when you officially launch your own practice.
Interviewing experts can be one of the most powerful sources of insight when learning about a company or a market.
This short episode has 11 tips that I've developed to help get the deepest insights from these interactions.
Many of us stick with the 2-3 influence techniques that we are most comfortable with. Mastering the full range of 10 ethical influence techniques is a superpower.
In this short episode I briefly describe each technique.
My introduction to this range of techniques came during Initial Leadership Workshop at McKinsey, and I draw directly on a slim booklet that McKinsey provided called Interpersonal and Interactive Skills. That book isn't published publicly, but the author is Terry Bacon and he covers this material in detail in his book "Elements of Influence: The Art of Getting Others to Follow Your Lead."
Scheduling meetings over email is time consuming - I've spent more time scheduling a call than actually having the call. Last fall I found a solution: Calendly. In this short episode I share the basics of the tool.
Check out the tool at: https://calendly.com/
Yogi Berra said: "If you don't know where you're going, you might not get there."
I like to step back and reflect about once a year and write down all my goals. In this short episode I describe how I approach this exercise, suggest a few variations, and the benefits I've seen.
Would love to hear your thoughts, and any questions you'd like answered on the show.
Chad Oakley is the CEO of Charles Aris, an executive search firm based in North Carolina. One of the firm’s practice areas is Strategy & Corporate Development – and they’ve completed nearly 600 searches in that space. Charles Aris publishes an annual strategy consulting compensation study which is available free on their website.
So Chad is one of the most knowledgeable people in the U.S. about the market demand for alums of McKinsey, Bain, BCG, and other top consulting firms.
In this episode, Chad shares a perspective on how a stint of independent consulting on your resume can affect your job prospects if you plan to return to a full time role at some point.
We also discuss, among other topics, resumes, LinkedIn profiles, and how to reach out to executive recruiters.
You can learn more about Charles Aris by visiting the website, https://charlesaris.com/, and if you are open to new opportunities, you can send them your resume.
Our guest today is Umbrex member Kevin Nedd. Kevin is a McKinsey alum and independent consultant who focuses on running Project Management Offices, or PMOs.
In our discussion, Kevin provides his perspective on
- when a company should set up a PMO, including examples of PMOs that Kevin has led
- the day to day work of running a PMO
- the tool kit used by a PMO, including templates and processes
- effective progress reviews
- PMO maturity levels
We also discuss Kevin’s service as a township committeeman and why he walks an hour every morning.
You can reach out to Kevin directly at kevin.nedd@pragmaticusllc.com
Our guest today is Umbrex member Ian Tidswell.
Ian has a PhD in physics from Harvard. He did science for a few years but missed the human element and ended up as a management consultant at McKinsey.
After McKinsey he worked at Vendavo, a software firm, and that is where he fell in love with pricing, which for Ian is the perfect mixture of the analytical and the human element.
In this episode, Ian shares his perspective on pricing, including
- Why pricing is so important
- signs that a company has an opportunity to optimize pricing
- what good pricing looks like
- how to organize the pricing function
- and we walk through an example of pricing for a crop protection company.
I enjoyed my conversation with Ian and I hope you find it helpful. You can follow up with Ian at Ian@eenconsulting.com
Our guest today is Neil Booth.
In our discussion, Neil shares how he became a deep expert in how to build a really well designed model – he followed what could be termed the Benjamin Franklin method. Neil then turned that skill into a career.
Neil also shares some modeling best practices – such as splitting up your formulas – do one step at a time – cells are cheap. We also geek out on cell styles, how to define constants, and whether you should include macros in your model.
Neil is currently working at the investment bank Houlihan Lokey where he established the firms’ Financial Modeling as a Service group.
His group offers corporate training in financial modeling best practices, and will also build the financial model for you.
If you’d like to follow up with Neil you can reach him at NBooth@HL.com.
Our guest today is Scott Skibell.
I’ve heard from several people that video is the new thing, that video on LinkedIn gets much higher engagement, and that if you want to work on getting your message out, you need to learn how to do video.
I took Scott Skibell’s course, LinkedIn Video Marketing, and I thought it was great, and so asked Scott to be a guest on this show, to discuss video in an old-school audio format.
What I really liked about Scott’s course is his message: keep it simple, your videos are about creating connection, not perfection.
That said, he provides some tips on how to up the level of professionalism, and shows how you can add titles, text, and B-roll to your videos, all from within the iMovie app on your phone.
It isn’t too expensive to get started. While all you truly need is your phone, it helps to buy a few accessories. In the show notes you’ll find links to the accessories I bought, which include:
Tripod for $17. https://smile.amazon.com/gp/product/B074QV4MW7/ref=oh_aui_search_detailpage?ie=UTF8&psc=1
Tripod mount for $13
https://smile.amazon.com/gp/product/B07B1GQ2T8/ref=oh_aui_search_detailpage?ie=UTF8&psc=1
Softbox lighting kit for $70
https://smile.amazon.com/gp/product/B071GR11GT/ref=oh_aui_search_detailpage?ie=UTF8&psc=1
Cloth backdrop for $83
https://smile.amazon.com/gp/product/B07BQLHFMM/ref=oh_aui_search_detailpage?ie=UTF8&psc=1
Rode smartLav+ microphone for $66
https://smile.amazon.com/gp/product/B00EO4A7L0/ref=oh_aui_search_detailpage?ie=UTF8&psc=1
I enjoyed my discussion with Scott and hope you find it valuable.
To learn more, check out his course at: www.skillcasting.com
Our guest today is Tim DeRoche, a McKinsey alum and independent consultant who is also the author of The Ballad of Huck & Miguel, a novel published in February 2018 by Redtail Press.
The Ballad of Huck and Miguel is a retelling of Mark Twain’s The Adventures of Huckleberry Finn in which Tim imagines that Huck is alive today and instead of traveling on the Mississippi with an escaped slave, Huck is living in Los Angeles and travels along the Los Angeles River with an undocumented immigrant.
It is a fabulous novel with wonderfully inventive language and great fun to read.
In this episode, Tim and I discuss how he came to write the novel, and how he combines this creative pursuit with his management consulting practice.
Independent consulting provides the career flexibility to pursue a career as an artist in parallel, and Tim’s experience is a great example of that.
I hope you enjoy this discussion as much as I did.
Our guest today is Umbrex member Susan Drumm, a CEO Advisor and Leadership Coach with over 20 years of experience coaching entrepreneurs and executives.
Susan got her start in consulting at BCG, and she is the only person I know who has graduated from both Harvard Law School and the London Academy of Music and Dramatic Art.
Susan often facilitates off-site sessions for her clients, and in this episode she shares with me a set of best practices for making off-sites successful – including how to prepare, what a good agenda looks like, tips on facilitation, and how to ensure the benefits are captured.
Later in the episode she shares useful tips for staying focused and organized.
Susan believes that her professional career is a natural offshoot of her own interest in leadership and self-improvement, and says, "If you would read a book or attend a conference on the subject matter that is your profession, and you would do it without getting paid because you want to, because you're so interested, you're in the right field."
You can find more about Susan’s practice on her firm’s website: meritageleadership.com
Sunny Bates is a legend and one of the master connectors of the 21st century. She is one of my heroes and it was really a privilege to have the chance to meet with her at her offices in Midtown Manhattan.
Sunny is on the Board of Directors of Kickstarter, an Advisory Board Member at the MIT Media Lab, a Brain Trust Member for the TED Conferences, and an Advisory Board Member for the American Theatre Wing, which means she gets to vote for the winners of the Tony Awards.
Sunny operates wherever executives, thinkers, artists, creators, innovators, entrepreneurs, educators, philanthropists connect and collide around the globe. Her genius is developing networks of extraordinary people and connecting their ideas in surprising ways toward concrete outcomes.
In our discussion, Sunny shared insights on what makes a great connection and how to nourish relationships. We also discussed her idea of an ideal day, routines, habits, books, and theater.
You can learn more about her work on her firm’s website, which is sunnybates.com
Our guest today is my good friend, Umbrex member Celine Teoh an independent strategy and marketing consultant in the Bay Area whose functional specialties include data-driven marketing strategy and execution, strategic planning and business planning.
On this episode, we discuss steps firms can take to improve customer retention.
We also discuss the benefits you can derive from journaling – in terms of productivity, creativity, happiness, and centeredness. Celine has been journaling actively for years, across several different styles, and I’ve been working to put her suggestions into practice.
Our guest today is a good friend of mine, Umbrex member Paul Millerd.
Paul has experience at McKinsey and BCG as well as the Board & CEO Advisory Group at Russell Reynolds Associates, one of the top executive recruiting firms in the world.
He currently has a wide portfolio of activities – he is a real Renaissance talent.
He is currently an independent strategy consultant, a career coach, the host of a podcast, Boundless, an active writer who puts out great posts several times a week. He hosts Jeffersonian dinners, he is interested in the gift economy and the future of work, Paul has created a career transition playbook and other course materials including a story course.
In this episode we have a wide ranging discussion covering just a few of Paul’s interests – I encourage you to check out his website and sign up to his mailing list. Visit think-boundless.com
Our guest today is Umbrex member Whit Pidot, an independent consultant who was formerly a Partner in the Travel practice at McKinsey. His clients include the CEOs of some of the top travel companies in the world including airlines, rental cars, and hotels.
Whit has been fascinated by the world of travel from an early age. As a hobby, he has been running a travel agency on the side since college. In today’s episode, we first explore some of Whit’s favorite travel hacks for business travelers, such as:
For finding the best rates on rental cars, Whit likes Autoslash.com.
For hotels, if you aren’t going to book directly on the hotel brand’s website, Whit’s current favorite sites are Upside.com and Rocketmiles.com.
For all travel properties, ask what the Triple A rate is: sometimes the AAA rate is better than the corporate rate. Whit once had an entire McKinsey team get AAA memberships because the AAA rate at the hotel they were staying at was better than the McKinsey rate.
We discuss Whit’s travel agency, and how being in the business himself with his own Sabre subscription has given him a pulse on the business that informs his consulting work.
We also discuss Whit’s consulting work, which has a strong focus on loyalty programs.
I love hearing Whit’s stories about the travel industry, and I hope you find this episode helpful.
Our guest today is Joachim Fischer, a mentor and good friend of mine who was an Expert in the Operations Practice at McKinsey when I got to know him a dozen years ago
Joachim is the only McKinsey alum that I know who started his career as an apprentice cabinetmaker. As he explains on the show, the training he received as a cabinetmaker has been incredibly relevant to his career, probably more important than anything he learned in college. He still spends a lot of his free time building beautiful things with his hands, and that practical, craftsman knowledge informs his professional work driving improvement on the shop floor.
Back in 2006, Joachim and I spent three days together on a quick operations diagnostic of maintenance workers doing A-checks on a 747 at John F. Kennedy airport, which has got to be one of the most fun things I did at the firm. Joachim started his independent consulting practice ten years ago, and after I started my own practice I’ve regularly called him for advice, and I’m really grateful for all the counsel he has given me over the years.
On the show we discuss Joachim’s three main areas of focus, including lean transformations, operational problem solving, and coaching and mentoring. Over ten years, about 95% of his business has come from just twelve clients, and he offers a powerful example of building deep relationships with clients that last for years.
I always learn something when I talk to Joachim, and I hope you find this episode helpful.
To learn more about Joachim and get in touch, visit the website of Fischer Advisors.
Our guest today is Tsavo Neal, who has thought hard about how consultants can generate more client leads with their website.
Tsavo has written dozens and dozens of posts on this topic and you can find all his work on his website, tsavoneal.com, which is a valuable resource.
He’s got examples of best-practice consulting websites, dozens of specific ideas on how to raise your visibility, tips on how to convert website visitors into leads, and much more.
Tsavo has many valuable insights on marketing professional services, and I hope you find the discussion valuable.
Our guest today is Aner Ravon, Co-Founder and Chief Revenue Officer at Zirra, a technology company focused on market analysis, using big data and artificial intelligence.
Aner and his co-founder recognized a real pain point for investors and anyone else doing research on smaller companies: it is very time intensive to search the universe of sources and pull together a basic set of facts.
They thought, wouldn’t it be nice if we could use artificial intelligence to scan public sources and pull together the basic information, so that analysts can spend their time on processing the information and synthesis. And that is just what they built.
Zirra’s main product is a company snapshot that is built by a combination of artificial intelligence and a human editor who provides quality control.
The snapshots are created on demand and take about 24 hours or less to deliver.
I’ve tried out the service myself and I’ve been very satisfied.
The report you receive looks like it was created by a human. It draws on dozens of potential sources, such as LinkedIn for number of employees, Glassdoor for employee reviews, websites of the company and its competitors. All the sources the report relies on are listed with live links.
The price of this company snapshot depends on how many you are going to purchase. If you are buying only a handful, the price starts at $200. If you are industrial scale, the price can get down to $100 each.
The ideal target to research using Zirra has revenue in the $5 to $100 million range. For smaller companies, there probably isn’t much public on the web for Zirra to scrape. And for larger companies you can probably find some Wikipedia article or analyst coverage to get you up to speed.
The ideal time to use Zirra is right at the beginning of a project. If you’ve already been looking at a company for a couple of weeks, you will probably already know most of what Zirra will tell you. The biggest value is using Zirra to quickly get up to speed so starting on Day 2 of your project you’re prepared to ask smarter questions as you pursue your research.
You can get started with Zirra by visiting www.zirra.com, click on the Pricing page and submit an inquiry. Aner himself will read your request and make sure you are taken care of.
Our guest today is David Topus, who helps his clients turn reputation into revenue.
I think that’s a pretty great positioning, encapsulating what David does in four words. And that’s what you’d expect from a professional who has been running a strategic sales messaging firm for over twenty-eight years.
In the first half of our discussion, we cover personal branding, with a focus on how to enhance your LinkedIn profile.
In the second half of the episode, we discuss David’s most recent book, Talk to Strangers, which is a guidebook on how to initiate conversations with strangers and includes dozens of examples of how David and those whom he has coached have turned conversations with strangers into business opportunities.
I’m a bit of an introvert, and normally the last thing I’d do is to strike up a conversation with a stranger. But after my talk with David, and reading his book, I said, OK, I’ll test this out. Over a few days of skiing I went outside my own comfort zone and initiated conversations with strangers on the ski lift.
Now, I never went so far as to actually ask for contact info – I was just taking some baby steps. But I did end up having over a dozen fascinating discussions. I met a woman who works as a ski instructor during the winter and during the spring and summer produces car commercials. Met the owner of a gas refinery, at attorney at Bank of America who works on credit derivatives, a woman in college who is studying to become a dentist and who plans to join the family’s 110-year old dental practice – she was helping with bite wings when she was eight years old. I met a professional rock climber, a woman who runs a business that checks on Park City condos while the owners are out of town, and the sales manager for the Western U.S. for one of the two leading printing companies.
I hope you find this discussion valuable, and I hope you’ll test out David’s suggestion and strike up a conversation with a stranger today.
Visit David's website: http://www.topus.com/
David's book: https://smile.amazon.com/Talk-Strangers-Everyday-Encounters-Business/dp/111820347X/ref=sr_1_1?ie=UTF8&qid=1521748374&sr=8-1&keywords=david+topus
Our guest today is Jonah Gruda, a Tax Partner at the accounting firm Mazars USA, LLP.
In this episode, we discuss a wide range of tax-related topics relevant to independent professionals.
We cover differences between various structures including LLC, S-corp, and C-corp. Before our conversation, I thought LLC was the obvious choice for most independent professionals, but Jonah made me realize that there are many factors that go into the equation and you really want to sit down with a professional to figure out what structure is right for your situation.
We discuss bookkeeping, how to hire a subcontractor, various deductions to keep in mind, and nexus issues you want to be aware of.
We also discuss the implications of the new tax law: the short answer there is that it is going to take some time for the IRS to issue guidance to resolve some of the ambiguous or even contradictory aspects of the law.
To get in touch with Jonah, you can visit www.mazarsusa.com. Here is a link for Jonah's contact info:
http://mazarsusa.com/about-us/our-people/jonah-gruda/
I hope this episode answers some questions you may have about the tax side of running your own firm, and raises awareness of important points that maybe were not top of mind.
Our guest today is Rak Chugh, the Founder of Byte Academy and the Architect of edChain. We met in his office in Midtown Manhattan.
Byte Academy provides training in python development, FinTech, Data Science, Quant Algorithms, and Blockchain. They have a full-time program with modules that last 14 weeks, and a part-time program designed for working professionals. Their students include recent college graduates – even some with Computer Science degrees – as well as mid-career professionals who want to switch careers or just broaden their skill set. They also deliver customized corporate training programs.
My belief is that as independent professionals, we need to be continuously working to stay current and build our skills, so I was quite interested in hearing about what skills Rak sees as most in demand. Right now, blockchain is a blazing hot topic, and companies in all industries and scrambling to figure out the implications of blockchain technology for their business and how to seize those opportunities.
You can read more at byteacademy.co
In addition to running Byte Academy, Rak is also the architect of edChain, which is an open-sourced, decentralized library that allows the sharing of educational content across applications and organizations.
In the second half of the episode, we discuss edChain. Rak explains that his goal with the technology is to lower the cost for educators to publish content while providing full attribution and facilitating monetization across platforms. A second goal is universal access, so that students can gain access to the best of breed courses in the world, wherever they are. A third goal is to unlock value by enabling content to stay connected to an educator. And if the content creator allows it, her content can be incorporated into the courses of other content creators, and the technology ensures that the first creator would continue to capture a fair portion of the revenue stream from products that incorporate her work.
You can learn more about edChain at edChain.io
I’ll also mention the social handles @byteacademyco and @edchainio, and you can find them on Twitter and all the major social networks.
Our guest today is Molly Leeds, a benefits account manager at Brown & Brown of New York. Molly helps small and medium sized businesses to obtain the best package of employee benefits to fit their needs.
In our discussion, we focus on healthcare benefits.
If you are a solo, independent professional with no employees and no partners in the United States, your main option for getting health insurance is Obamacare, via healthcare.gov.
But if you have at least one employee, or you band together with another independent professional to form a partnership and have at least two eligible members in your company, you can start looking at small group healthcare plans, which can be a better value in some, but not all, cases.
Molly walks us through the various options for health insurance and we also discuss how to find and select a health insurance broker.
Molly’s firm, Brown & Brown, helps clients with a wide range of products and services, including trade credit, business insurance, employee benefits, risk management, and more. You can learn more at their website, www.bbinsurance.com, where you can use their office locator to find an office near you.
Our guest today is Johnny Warström, the CEO of Mentimeter, which is a tool that can help you make presentations, workshops, and meetings more interactive.
Here's a link: https://www.mentimeter.com/
The tool lets you take a live poll of your audience, and the results get updated real-time in your presentation. The audience doesn’t need any special hardware – just a phone or any other device connected to the Internet.
When I interviewed Johnny, I had not yet used the tool.
I just got back from facilitating a professional development event with about 25 independent consultants where I tried Mentimeter for the first time, and it was a massive hit.
Some of the attendees said that Mentimeter was their number one takeaway!
We’d be having a facilitated discussion and presenting regular slides, and the attendees were engaged, but you could see the energy in the room starting to flag.
And then we’d get to a place with a Mentimeter survey, and, Bam!, the room came alive. Out came everyone’s phones, and you’d see the responses coming in on the screen, and people were looking up to see how their response compared to everyone else’s – it was awesome.
I can’t imagine doing a presentation in the future to a larger group without including a few Mentimeter surveys.
I’ll also say the tool is incredibly easy to set up. I had put it off for a week, because of the activation energy involved in learning some new piece of software. I shouldn’t have worried.
If you can drag and drop, you can have a Mentimeter survey ready in about 60 seconds.
One tip: while most of the survey templates are quantitative, do try out the “Open-ended” question type, in which respondents can type in free text. It is very cool to see all the responses popping up on your screen up in front.
You might start a meeting by asking, using Mentimeter, “what are you hoping to get out of today’s session?”
Or you might end your meeting by asking, “What is your key takeaway from today’s session?” or “What was most valuable to you from today’s session?”
The tool allows you to export all the responses, in either Excel or PDF format, so you can use in later analyses or presentations.
Mentimeter has 16 million users – I’m one of them. I do encourage you to check it out and try it in your next meeting.
Our guest today is Josh Boltuch, the CEO of Fancy Hands and its subsidiary, On Demand Ops, and in this episode we talk about both firms.
Fancy Hands is a network of thousands of U.S. based virtual assistants.
You sign up for a set number of requests per month and pay a fixed monthly fee.
Each request can be pretty much anything that can be done on the Internet or by phone – whether that is calling your utility company to complain about a charge on your bill, or researching the best BBQ joint to visit on your trip to Memphis.
You don’t get a dedicated virtual assistant: each incoming request gets farmed out to the next available person who is a good fit for that assignment.
On Demand Ops was launched by Fancy Hands in 2017 and is geared more towards the enterprise customer. A key service of On Demand Ops is large scale lead generation, for example. They’ll work with a client to develop and refine a script and a protocol, and then they will make thousands of phone calls that have the goal of setting up calls with qualified customers interested in hearing about the client’s project. They have sophisticated quality control and analytics that Josh describes in our discussion.
As an independent professional you might not need this service for your own practice, but you may well have clients that are looking for a solution like this.
For those who are interested in trying out Fancy Hands, Josh kindly offered a discount code to listeners of Unleashed. Use the code Unleashed when you sign up and you’ll get 50% off your first month’s subscription.
Outsourcing research tasks via Upwork is a superpower that every independent professional ought to master.
In this episode, I provide a range of examples that illustrate the types of tasks that I have outsourced to freelancers on Upwork, and then I discuss tips and tricks on how to use the platform effectively.
For many independent consultants, staffing firms are an important channel for getting connected to project opportunities. This episode presents 45 tips for independent consultants on how to work effectively with staffing firms and become their go-to resource.
On the show today Julia Bunte-Mein is back. Julia, a brilliant and accomplished sophomore at Harvard College, spent a day with me on a Winternship. On our last episode, Julia interviewed me about the advice I’d give to my college-age self, and related topics.
On today’s episode, I share the tips that I’ve learned on Getting (Some) Things Done. I loved David Allen’s classic book titled Getting Things Done: The Art of Stress-Free Productivity. His system was a bit too complex for me, and I’ll be sharing what I do in practice to get some of the things done that I want to do.
Then in the second half of today’s episode, Julia takes over and shares her productivity routine, which I must say is more disciplined and robust than mine.
One of my goals this year is to improve my own ability to focus and get things done, and if you have tips, send me a message on LinkedIn.
So there’s no one right answer, and in today’s episode you get two sets of ideas to think about incorporating – I hope you find something in here helpful.
On the show today our guest is Julia Bunte-Mein, a sophomore at Harvard College, who spent one day with me over her winter break on a Winternship.
I’m pretty sure that I learned more from Julia than she did from me over the course of the day. One of the things I learned was that if I were applying to Harvard today, I would have had a lot less chance of getting in, as the bar has been raised over the past couple decades.
Julia added real value on Day One. Little did I know, but she has deep graphic design experience, and she helped me dramatically improve a mailer I was designing that day. Julia has worked as a Researcher-Writer for Let’s Go and had actual internships in Belgium, Spain, Australia, and South-east Asia. She is the Social Enterprise Director for Harvard Women in Business and all-around a very impressive person.
In this episode, we turned the tables and Julia interviewed me, mostly about the advice I’d give to my college-age self, and related topics.
It was a lot of fun being interviewed by Julia, and I hope you find it useful: maybe you’ll even share the episode with a current college student.
Our guest today is Chris Doig, who has thought more about enterprise software selection than anyone else I know. I’d like to thank David A. Fields for introducing me to Chris.
Chris is the co-founder and CEO of Wayferry, a boutique consulting firm with a very tight focus: their entire focus is on helping enterprise clients select software. The firm has developed its own proprietary software and processes to support enterprise software selecton.
Chris is also the author of a book that was published in October and is available on Amazon: “Rethinking Enterprise Software Selection: Stop buying square pegs for round holes.”
For me, the takeaway from my conversation with Chris is broader than what I learned about software selection. He is a great example of how a consultant can build a successful practice by carving out a niche to serve one pain point. I know at least a dozen firms that provide a range of IT consulting services. But I know just one person with an exclusive focus on enterprise software selection. So the next time one of my enterprise clients is trying to select software, guess who I’m going to call?
Our guest today is Diane Mulcahy, a McKinsey alum and the author of The Gig Economy: The Complete Guide to Getting Better Work, Taking More Time Off, and Financing the Life You Want.
Her book grew out of the MBA course at Babson that she developed titled “Entrepreneurship and the Gig Economy,” which was names by Forbes as one of the Top 10 Most Innovative Business School Classes in the U.S.
Diane’s book is structured around her ten rules to succeed in the gig economy, and in this episode we discuss several of those, including #6: Take Time Off Between Gigs.
Independent professionals almost inevitably have time off between gigs, at least occasionally, and in our discussion Diane details an exercise she recommends to develop a set of ideas on how to use that unbilled time productively.
Pursuing the life of an independent professional requires us to rethink many of the assumptions that employed professionals can take for granted. Diane’s book is a great guide for getting us to think about the life we want to lead.
You can read more about Diane on her website: dianemulcahy.com
Our guest today is Roger Lee, the owner of F1 Consulting.
Roger provides remote IT support for independent professionals, home offices, and small businesses.
He helps his clients with network design and installation, cloud services migration, remote monitoring, and offsite data backup and disaster recovery.
One of the tools that Roger mentions in this episode is LastPass, a password manager. After Roger and I spoke I adopted LastPass myself and I strongly recommend it. Roger asked me to point out that he misspoke on the cost of LastPass – the monthly fee is two dollars, not one dollar.
If you are an independent professional, you ought to have an IT professional like Roger on your virtual team. I picked up a ton of useful tips in this discussion and I hope you find it helpful.
Our guest today is Jennifer Hartz, a McKinsey alum and the founder of Corporate Hartz.
Jennifer has several focus areas including business-driven community relations strategies, nonprofit strategic planning, and personal philanthropy. Her philosophy is that generosity and profitability can, and should, go hand-in-hand.
Her lessons learned from helping families take a strategic approach to philanthropy can be useful to all of us – you don’t need to have a $100 million fund to start a family conversation about giving.
With the holidays coming up, and the tax year coming to a close, after listening to this episode you might be motivated to set up your own donor-advised fund. With a donor advised fund, you get the charitable deduction off your income taxes today when you contribute money to the account. Then you can disburse the funds over time to approved charities. You can start a fund at Fidelity with a minimum $5,000 contribution, and over at Vanguard with a minimum contribution of $25,000.
In our discussion, Jennifer mentions her periodic newsletter, called Hartz and Minds – you can find an archive of all her past newsletters on her website, which also lists her very impressive set of clients and her philosophy on corporate philanthropy. Check it out at corporatehartz.com.
Our guest today is John Dranow, the CEO of Smart Revenue.
John’s firm has hundreds of trained, vetted field researchers available around the world, and his firm can help you fill in the data white spaces.
Big data can help us analyze in exquisite detail what is happening, but it is hard to know from the data what isn’t happening.
How many people walk by a store but don’t look at the window display?
How many people look at the window display but don’t enter the store?
How many people enter the store but don’t walk down the center aisle?
How many people walk down the center aisle but don’t buy your client’s product?
John’s team has a range of tools to help fill in these white spaces. In our discussion we discuss field interviews, vision tracking goggles, how Panera might study a customer standing in line to order, and much more.
John’s firm does regularly work with boutique consulting firms as well as independent professionals – so if you have an upcoming project where this type of anthropological field work would provide compelling insight, check out his firm at www.smartrevenue.com
In this in-between-isode, Will Bachman shares four tools useful for any independent professional:
1) DocuSign - to avoid the need to print/sign/scan/email
2) Expensify - to keep track of your expenses.
3) ScannerPro - to create multipage PDFs with your phone
4) Rev.com - quick and affordable transcripts
Sinisa Slijepcevic studied with Stephen Hawking, among other professors, while earning his PhD in applied mathematics at Cambridge University. Sinisa is a McK alum and independent consultant and runs a firm called Cantab Analytica, which is based in the UK and Croatia.
Sinisa’s firm leverages machine learning to help clients make better decisions and to focus energy on the right decisions.
In our discussion, Sinisa provides several case examples to illustrate how machine learning can help make decisions in three ways:
First: decisions that may be subject to unconscious bias, such as the investment decisions made by venture capital firms
Second: decisions that are complex and also occur very frequently, such as dynamic pricing of hotel rooms.
Third: focusing management attention on the most important decisions, such as figuring out which purchasing decisions are the most critical in a supply chain.
You can learn more about Sinisa’s firm on the website: cantab analytica.com
Our guest today is Karen McGrath, who runs a firm of virtual assistants called Awan’s Assisting.
If you are an independent professional and feel crunched for time, this episode is for you.
Karen and I discuss why an independent professional should consider hiring a virtual assistant (a VA), the types of tasks that VAs are most commonly asked to do, how to find and screen a VA, and some tips on how to build an effective working relationship with a VA.
Karen clearly knows her business, and you can find her firm at http://awansassisting.com/
Our guest today is Kenny Jahng, the founder of Big Click Syndicate LLC, a strategic positioning agency offering content marketing consulting & advisory to nonprofit, cause-driven & faith-based organizations and churches across the country.
Kenny has an amazing list of clients that includes the Princeton Theological Seminary, California Baptist University, Redeemer Presbyterian Church, The United Methodist Church, & Wesleyan Investment Foundation, among many others.
In our discussion, Kenny educates me on what content marketing is all about. The core of what he does starts with helping clients on their strategic positioning, building internal alignment on the mission and the vision of the organization.
Often, this exercise has implications beyond communications and informs strategic decisions the client makes.
We also discuss lead generation, and how Kenny helps clients build thirty or more custom landing pages that each focus on a niche audience, providing something of value to earn the right to continue a conversation with that visitor over time.
I was incredibly impressed by the sophistication of what is going on behind the scenes, and we just scratched the surface. If you are intrigued by what you hear in this episode, you can learn more about Kenny’s work at www.kennyjahng.com.
Sri Kaza, a former McKinsey partner who specializes in sales and service, left the firm to put his sales expertise to work as the SVP of Commercial Operations at Viking Cruises, and subsequently led sales for a company offering a SaaS-based solution to obtaining tax credits.
Sri is now running his own independent consulting practice while also developing two separate SaaS startups. One of them is a tool to help companies hire the employees most likely to perform well and stick around, based on academic research and testing that looks at 70 personality traits.
The other one helps companies optimize their incoming leads by routing that lead to the right sales person.
Sri’s consulting is focusing on these areas, allowing him to better understand unmet needs. So while he serves clients he is also doing market research for his startups.
In our discussion we explore in some detail the concept of how to optimize incoming leads, and Sri shares some initial steps that you can help your clients with. Sri also mentions that he is happy to partner with other independent consultants, so if you are serving a client with a large number of incoming leads and more than, say, 10-20 sales reps, reach out to Sri to see if he might be able to help. Or if your client hires a large number of front line service personnel every year, Sri may be able to help your client reduce training and replacement costs with his recruiting solution.
Our guest today is Jason Korman, who entered the world of consulting via the wine industry.
Jason is the founder of Stormhoek Winery, a South African wine label. While running that label, he retained Hugh MacLeod to blog and draw for Stormhoek, creating one of the the web’s earlier social media campaigns.
Even if you don’t recognize the name Hugh MacLeod, you have probably seen his cartoons, which are absolutely distinctive. Hugh’s cartoons are generally about the world of work and marketing, and the drawings are beautiful and abstract, often resembling a cross between Rube Goldberg and Pablo Picasso. I've been subscribing to his daily blog for years and years – check it out at GapingVoid.com
My hero Seth Godin is a huge fan of Hugh, and I think that’s how I first discovered him. Hugh is also the author of the book Ignore Everybody, which I highly recommend.
So Jason hired Hugh, and the campaign that Hugh developed was widely successful and won all sorts of awards – while the work helped sell wine, they found it was also helping people have important conversations.
One thing led to another, and the winemaker and the cartoonist decided to set up a consulting firm, and the Gaping Void Culture Design Group was born.
In our discussion, Jason tells me about how his firm helps corporate clients use art to drive cultural change. The firm is happy to partner with independent consultants, so if you are working to drive cultural change at your client, check out the website to explore if it might make sense to collaborate – visit gapingvoid.com
Our guest today is Ahmad Munawar, who helps boutique professional services firms build actionable marketing plans that generate more leads so they can win more business.
He’s got a podcast that I encourage you to check out called “Forecast – Marketing for Boutique Professional Services & Consulting Firms”
He’s also got a free video course on lead generation that you can take at fiveleadgen.com
In our discussion, Ahmad walks me through the five steps that he suggests we take to build a marketing plan, namely: identifying our target market; developing our positioning; establishing what solution we’ll offer; building a marketing funnel; and creating an action plan.
While those may sound like phases that our common to any marketing plan, we dive into what each step means for a boutique consulting firm.
You can learn more about Ahmad’s firm at boutiquegrowth.com
On today’s episode, the tables are turned, and our guest, Sophia Dai, interviews Will Bachman.
Sophia received her MBA from Kellogg and then spent the past two years at Boston Consulting Group.
Now a Senior Associate, she’s decided to leave BCG, and independent consulting is one path that she is considering.
Two or three or four times a week Will Bachman has a conversation with a top tier management consultant considering this option. This episode captures one such discussion.
In today’s episode , Will does his best to answer her questions - including among others: why people decide to pursue the independent path, the first steps to take to start generating project opportunities, and the biggest mistakes people make when they start out.
Our guest today is Lisa Overton, a McKinsey alum and an expert on market research. Today Lisa is an independent consultant working on a range of strategy, marketing, and communications issues.
Previously, Lisa ran a boutique qualitative market research firm that offered traditional services such as focus groups as well as more innovative services including customer intercept interviews.
In our discussion today we focus in on how to do those customer intercept interviews, and Lisa shares a range of lessons learned that you and I can apply in our practice.
We discuss the incentives you need to offer the customer, how to approach customers, the best time of day to get a good interview, how to record responses, how much it will cost to hire capable interviewers, how many they can do per hour, and the types of questions you might want to ask to elicit surprising insights.
We also do a role play in which I play a grocery shopper and Lisa interviews me about my grocery shopping habits.
Our guest today is Geoff Wilson, a McKinsey alum who subsequently served as the SVP of Corporate Strategy and Development at Milliken & Company, a privately-held, diversified manufacturing company headquartered in Spartanburg, South Carolina with 7,000 employees worldwide.
Geoff left Millikin in 2014 and started his own consulting firm. Geoff wanted to keep living in South Carolina and keep long-distance travel to a minimum, so he has taken an intentionally geographically-focused approach to building his practice.
In this episode, Geoff shares some tips on building a geographically-focused firm, and we also discuss his work on corporate strategy and business unit strategy.
Geoff has been a good friend of mine for several years. We’ve worked together, he has given training at events I’ve organized, and he is one of the most capable consultants I know. You can read more about Geoff and read his blog at WilsonGrowthPartners.com
Our guest today is Umbrex member Amanda Setili, and we discuss her new book that is being published today: Fearless Growth: The New Rules to Stay Competitive, Foster Innovation, and Dominate Your Markets
Amanda has been a guest on the show before, on episode 8, when we spoke about the Strategic Agility Think Tank which she established, and her first book, The Agility Advantage.
In today’s discussion we dive deep into the content of her new book.
In the first half of the show we discuss five strategic dilemmas that companies face.
These dilemmas include tough choices such as:
To what extent should we develop a carefully thought out plan vs plunging in and trying something new?
and
When new capabilities are needed, should we build them internally, acquire, or partner?
Amanda’s book suggests that these five dilemmas require seven new rules, and we touch on each one of those in the second half of the show.
If you work on strategy projects, this book is full of fresh thinking and well worth reading.
You can read more about Amanda’s firm at www.setili.com
Our guest today is Alexander Petersen. He is a McKinsey alum and a successful entrepreneur, having started a pet care business called Wagly.
After starting Wagly, he was able to attract private equity funding to grow the company and hire a strong full time leadership team.
He is now the owner of a boutique consulting firm focused on animal health, which I learned in this episode is a $50 billion dollar industry. Alexander has built a thriving firm by tightly focusing on an industry where he’s been able to get to know all the top players and build lasting relationships that continue on beyond individual projects. You can learn more about his practice at www.danashift.com
Larry Oglesby has been a close friend and mentor of mine for over a decade. I first got to know Larry when he was my Engagement Manager at McKinsey on a manufacturing lean operations project back in 2005, and we bonded over our shared service in the U.S. submarine force.
Larry is a deep expert on operational transformation – after spending time in the Ops practice at McKinsey he joined the George Group – a boutique consulting firm focused on operations.
After the George Group was purchased by Accenture, Larry stayed on and ended up as the Managing Director for North American Process and Innovation Performance Service Line.
Larry has now started his own consulting practice, 440 partners – and we start our discussion with Larry explaining the name of his firm.
A cliché in operational transformation is: To go fast, go slow.
Larry has a different approach: To go fast, go fast.
In our discussion, Larry talks about the importance of speed in a successful transformation; he also shares how he incorporated into the transformation a book club with weekly discussions.
To learn more about Larry, visit his firm’s website: Four40Partners.com
Our guest today is Mike Figliuolo, a McKinsey alum and West Point graduate.
Mike is the founder and Managing Director of ThoughtLeadersLLC, which provides training to corporations that is inspired by the types of internal training that consultants receive at McKinsey and other top firms.
He is also the author of three books
One Piece of Paper: The Simple Approach to Powerful, Personal Leadership
The Elegant Pitch: Create a Compelling Recommendation, Build Broad Support, and Get it Approved
Lead Inside the Box: How Smart Leaders Guide Their Teams to Exceptional Results, which Mike co-authored with Victor Prince.
I heard about Mike’s firm from several Umbrex members, who have helped deliver some training sessions for Mike, and I recognized his name because Mike was the very first person to interview me when I applied to McKinsey, seventeen years ago. So it was nice to reconnect.
In this episode, Mike gives an overview of his most popular courses and talks through lessons learned he has had in building a training firm. Lesson 1 – somewhat counterintuitive - don’t customize your training! I like the metaphor he uses to explain why: you need to be at the baseline or at the net.
Mike shares the business model of how the fees get split four ways each time a session is delivered: one share for the person who wrote the course; one share for the person who sold that particular session; one person who delivered the session; and one share for the house.
Do take a look at his firm’s website: thought leaders llc.com
Mike is happy to write a check to consultants who help him develop new business, so if know some clients that could benefit from his firm’s services, he’d love to hear from you.
Our guest today is Ravi Rao, a McKinsey alum and neuroscientist who is the author of Emotional Business. Ravi has led sessions at several professional development events for consultants that I’ve organized, and he always gets fantastic reviews.
Ravi was my guest on the second episode of this show, and it remains one of the most downloaded episodes, so if you like this episode, go back and check out Episode 2.
In this episode, we talk about one really creative framework that Ravi has developed that helps you think about customer experience in a new way.
I used this framework on one of my own projects right after I learned about it from Ravi, and the client loved it. I was really pleased that Ravi agreed to come back on the show to walk us through it.
Check out the show notes for a link to download the framework. Please do use the framework, and please do include a source line that credits the book Emotional Business by Ravi Rao.
Our guest today is Vivek Soman, a former McKinsey Engagement Manager who is the founder and Managing Director of The Ananya Group, which has completed over 300 projects since it was founded in 2008. Ananya is a Bengali word meaning “unparalled.”
Vivek’s firm has a very clear focus: the client focus is large $1 billion revenue and up tech, media, telecom, and professional services companies
The service offering includes three types of projects:
1) competitive intelligence
2) customer intelligence
3) focused strategy projects
Vivek has worked to standardize the process of doing competitive intelligence, and we discuss that as well as a couple practices I found interesting:
1) found that obscure tech journals in the Middle East and Europe – executives of large tech companies sometimes talk more openly about their product strategy that you can find in the US
2) developed a process to source 80-100 interviews, with very specific questions, just 3-4,
You can read more about Vivek’s firm at www.TheAnanyaGroup.com
Vivek is currently looking for someone to help with business development. If you are interested in that role, or just have other questions about his work, he invites you to contact him at vivek.soman@theananyagroup.com
Lauren Cole runs a boutique consulting firm specializing in strategy and operations for media-related businesses.
Lauren got her start in consulting at Bain & Co. After getting her MBA at Stanford she entered the world of media and entertainment with a strategy role at Warner Brothers, where she worked for Umbrex member Steven Koltai, who has also been a guest on this show.
She had an impressive career in the media world, which included launching, investing in, and/or overseeing 35 cable networks around the world.
Then in 2002, she started her own consulting practice and has been a successful independent professional for the last 15 years, serving over 150 clients, covering everything from Broadway to sports to virtual reality.
You can read more about Lauren’s firm, Cole Media, at www.ColeMediaLA.com
Our guest today is Josh Spodek, the author of Leadership Step by Step.
Josh is an independent professional who
- coaches individual clients
- teaches leadership and entrepreneurship as an adjunct professor at NYU
- does speaking engagements
- runs online courses in leadership and entrepreneurship on SpodekAcademy.com
For the show we met at Josh’s apartment in Greenwich Village, and in the first part of our conversation we discuss the blackboard in his room and the new course he is currently developing, which is sketched out in chalk.
We also talk about what Josh has learned from blogging every single day since 2011, the impact on his fitness from doing 90,000 burpees over the past few years, and how he fits four months of garbage into one tote bag.
Josh’s approach to teaching leadership and entrepreneurship is very experiential and organized around a series of exercises. We discuss several of these, including what you can learn from three raisins.
You can learn more about Josh and take his online course at http://spodekacademy.com/
And buy his book here:
https://www.amazon.com/Leadership-Step-Become-Person-Others/dp/0814437931
Our guest today is Esther Kim, an independent consultant based in San Francisco who focuses on serving clients in the social sector, including non-profits, philanthropies, and social enterprises.
After getting her Masters degree in Environmental Engineering from MIT, Esther got her start in consulting at McKinsey, where she worked with energy, industrial, and nonprofit clients.
She then spent nine years at REDF, a venture philanthropy firm based in San Francisco. In 2014, Esther set up her own consulting practice focusing on the social sector.
In our discussion we talk about the similiarities and differences between serving for-profit and non-for-profit clients
We discuss what it takes to transition into the social sector, the difference in vocabulary from the for-profit sector, and how Esther tweaks frameworks such as the Business Model Canvas to apply them in her work. She also shares an inspiring story of a social enterprise Esther helped to establish- a staffing agency- that has helped hundreds of formerly homeless individuals find stable jobs.
You can find Esther online at www.estherkimconsulting.com
Our guest today is Steven Koltai, the author of "Peace through Entrepreneurship: Investing in a Startup Culture for Security and Development"
Steven has had multiple careers. he has been a management consultant at McKinsey, the head of strategy at Warner Bros for ten years, and a successful entrepreneur.
His most recent career began as a senior advisor to the US Department of State under Secretary Hilary Clinton, where Steven conceived and launched the Global Entrepreneurship Program, based on the principles that joblessness leads to violence and unrest; and one of the best ways to reduce joblessness is to foster entrepreneurship in emerging markets.
After leaving the State Department, Steven has continued to advance that goal, and his consulting practice has supported entrepreneurship in over 30 countries, particularly Africa and Latin America.
We discuss
- advice for independent professionals interested in working in international development
- process of getting funding for such projects
- key success factors for projects to encourage entrepreneurship
- how Steven staffs up projects in these markets
- some case studies, including an eight-sided box that increased revenue by 700%
For more on Steven’s work, go to www.koltai.co
Chris Fox, an alum of McKinsey and Marakon, has held executive leadership roles at Xerox and MeadWestvaco. Since 2014 he has been operating his own consulting practice, Meridian Strategic Consulting, based in Richmond, Virginia. In this episode, we discuss the range of Chris's practice, with a particular focus on strategy and due diligence assignments. Read more about Chris on LinkedIn at linkedin.com/in/chrisjfox
Our guest today is Ron Hubsher, the Managing Director of the Sales Optimization Group and the author of Closing Time: the 7 Immutable Laws of Sales negotiation.”
Ron’s book is in print but not available on Amazon – he explains what happens when you buy his book from his website., and why he doesn’t sell his book anywhere else.
Ron has a multifaceted business – he does consulting projects to sales organizations, he provides training programs, he gives keynote speeches.
In some cases he delivers his training programs himself; he’ll also license the training program to a client and make money while he sleeps.
In our wide-ranging conversation, Ron discusses several case examples of how he works with clients, and along the way I learn how a playing card in an Atlantic City casino is different than one used in Las Vegas.
You can find Ron’s firm on the web at www.salesOG.com
Our guest today is Michael Bendit, an independent professional based in NYC who started his consulting career as a principal at Booz & Co.
Michael has two sides to his practice
- He runs a consulting practice, with a particular focus on strategy and pricing
- He also represents multiple software development shops, primarily focused on digital marketing agencies
Michael has created a referral network in NYC that has been meeting every two weeks for several years. His group includes a range of independent professionals that all serve digital marketing agencies, with different specialties, and every two weeks they get together to share leads and look for ways to collaborate. Getting up a group like this up and running takes a lot of effort, but has been successful at generating a flow of work over time and is something that independent professionals might want to consider replicating.
You can read more about Michael’s software firm at http://softdevresources.com/
Martin Pergler is Founder and Principal at Balanced Risk Strategies, Ltd., in Ottawa, Canada. Previously, he was Senior Expert in Risk at McKinsey, where he was a leader in their Corporate Risk and ERM service lines, based at various times in their Chicago, Prague, Singapore, and Montréal office.
Soyini Coke is a McKinsey alum and independent consultant based in Atlanta, Georgia. She is also the host of CEO Exclusive, a radio show in which she interviews a mid-market CEO every week. In this episode we discuss how she has invested time to build her visibility and thought leadership, such that she now has CEOs reaching out to her to get on her show. You can learn more about Soyini's firm on her website: http://annonaenterprises.com/
And you can listen to her show at http://ceoexclusive.businessradiox.com/about/
David Burnie is a McKinsey alum and the founder of The Burnie Group, a boutique consulting firm based in Toronto. We discuss how we started as an independent professional and then proceeded to build a firm and how he has partnered with software firms to offer robotic automation. You can sign up for his firm's newsletter and read more about The Burnie Group at www.burniegroup.com
Our guest today is my friend Julie Gupta, who has a Masters in Material Engineering from MIT and an MBA from Harvard Business School.
Julie started her consulting career at Bain & Company, and after a series of roles in the tech industry she started her own practice, Gupta Consulting, in 2006 – so she has been a successful independent professional for 11 years.
In our discussion, we focus on Julie’s pro bono work, which I find incredibly inspiring. She has done pro bono consulting work at fantastic organizations that include Guide Dogs for the Blind, NPR, the Girl Scouts of America, Boston Public Schools, City Year, the Humane Society, among others.
Julie shares one question that has shaped her thinking and her life: “Are you optimizing your resume or your eulogy?”
We talk about how as an independent professional to find those pro bono opportunities, and some best practices to make sure that you have impact and that your time is well spent. We also talk about the unanticipated benefits – such as relationships that have led to work with for-profit clients, and skills she has learned.
Read more about Julie's practice at www.ConsultGupta.com.
In this in-between-isode, Will Bachman offers suggestions on 27 action items to consider as you set up your firm.
In this in-between-isode, Will Bachman offers a perspective on the questions you should answer to create a strategy for your practice, namely:
- What is your definition of success? Or in other words, What is winning?
- Where do you play?
- How do you win on the battlefields where you have chosen to play?
Our guest today is Mike Feiner, who has been an influential figure in my own life since I took his class High Performance Leadership at Columbia Business School.
Mike is now on his fourth career.
He was the Worldwide Chief People Officer at Pepsi – so the head of HR and the top advisor on all people matters to the CEO.
Here is a factoid: in the last three years, according to The New CEO Report by Feigen Advisors, 81 individuals have ascended to the CEO role. in the Fortune 250. Of those 81, eight of the CEOs had worked previously at Pepsi, several of them while Mike was the head of HR. Something special was clearly going on.
After Pepsi, Mike developed and taught one of the most popular courses ever at Columbia Business School.
While he loved teaching, after ten years he wanted a new challenge and took the role of Senior Managing Director at Irving Place Capital where he Lead firm's efforts in guiding portfolio company management teams build, grow & develop their leaders & managers.
And now Mike is an independent professional, serving as a consultant to CEOs and senior leaders.
Mike is also the author of the bestselling The Feiner Points of Leadership: The 50 Basic Laws that will make people want to perform better for you. I’ve given out copies of this book dozens of times – it is the most practical book on what leadership is that I’ve ever read.
In our wide ranging conversation, we talk about how to apply these basic laws of leadership as an independent professional
We talk about the Law of Intimacy, the Law of Feedback, the Law of Professional Commitment, the Law of the Emperor’s Wardrobe, and more.
Mike’s been a lifelong runner, running nearly every day for over 40 years, and we also talk about his suggestion that business professionals need to think of themselves as Professional Athletes. We’re in a marathon, not a sprint, and we need to think about personal fitness, broadly conceived – exercise, diet, sleep, mindfulness all factor into our long term success as much, if not more than our knowledge of valuation methodologies or the latest digital marketing techniques.
You can read more about Mike’s work on his website, feinerconsulting.com
Our guest today is Matt Weill, who is my attorney as well as a good friend.
Matt began his legal career as an Associate at Skadden Arps and then he became a partner at the firm of Golenbock, Eiseman, Assor Bell & Peskoe.
His legal practice is primarily focused on business and transactional matters for a wide range of clients, including private equity and venture/growth capital funds and their related portfolio companies and investments.
Matt routinely counsels entrepreneurs, startup and growth-stage companies and investors in connection with the structuring and formation of new business ventures, private placements, capital raising transactions, and agreements among founders.
Matt has extensive experience working with independent professionals, and for Umbrex he has prepared three contract templates – a contract between an independent professional and a client; a contract that an independent professional can use to engage a subcontractor, and a non-disclosure agreement.
If you email me at unleashed@umbrex.com, I will send those files to you. Please note: these are just a starting point and don’t constitute legal advice – you should get an attorney yourself to customize for your particular situation. That said, these templates can jump start that process and save you time and money.
In the show today, Matt walks us through the contracts, explaining the key things we should watch out for. He also answers questions submitted by listeners, including steps you can take to get paid on time, how to negotiate non-circumvention clauses, and why you should read the fine print of the indemnity clause.
Our guest today is Dorene Stockman, an insurance agent with the Owens Group, an independent agency.
Dorene helped me get my own insurance policy, and I thought she was very knowledgeable and a helpful advisor on that process, so I asked her to be on the show to share her advice for independent professionals on the types of coverage we need to consider getting.
In our conversation we discuss the types of coverage that are applicable to most independent professionals, namely:
- Business owners insurance – closely related to General Liability policy
- Umbrella policy
- Professional liability policy
- Privacy / cyber policy
We discuss policies that independent professionals should consider getting if you hire an employee or engage a subcontractor, including
- Workers comp
- Disability
- Unemployment insurance
For those independt professionals that serve on the board of a non-profit or for-profit, we discuss directors & officers insurance
Dorene also shares tips on how to select a broker, how often you should re-quote your policy, and how to work most effectively with a broker.
Dorene prepared a much more exhaustive list of policy types that are applicable to narrower groups of independent professionals – if you email me at unleashed@umbrex.com I’ll send you a copy
You can find Dorene’s firm at owensgroup.com
Reach Dorene at: dstockman@owensgroup.com
Four reasons why an independent professional might want to start a podcast, and 17 tips on how to get started.
Our guest today is Rick Condon, a former submarine officer and a former Engagement Manager at McKinsey. He has been running his own consulting practice since 2004.
The majority of Rick’s clients are privately held mid-market companies and he works on a range of topics including preparing companies for sale; turn-around efforts, and jump-starting growth.
You can read about Rick’s firm Inside Consulting at insideconsulting.net
Our guest today is my friend Amanda Setili, the author of two books:
The Agility Advantage: How to Identify and Act on Opportunities in a Fast-Changing World, was published in 2014. Her latest book is coming out in the fall of 2017, Fearless Growth:The New Rules to Stay Competitive, Foster Innovation, and Dominate your markets.
Amanda has an MBA from Harvard and started her consulting career at McKinsey & Co.
She has been running her own successful consulting firm, Setili & Associates, in Atlanta for nearly twenty years.
Her first book emerged out of something Amanda did which I think is pure genius: she created the Strategic Agility Think Tank, which brings together senior leaders from a blue-chip list of clients, several times per year for an in-person session that includes a panel discussion and then Q&A.
The Think Tank keeps Amanda top of mind with the clients she has served in the past and is a reason to reach out to new ones. It gives her fresh material and case studies for her writing. It positions her as the go-to thought leader on how to navigate turbulent markets.
It takes some real effort, long term dedication, and a willingness to invest to set up something like the Strategic Agility Think Tank – that’s why most people don’t do it. Those who do, like Amanda, are scarce and thus incredibly valuable.
Our guest today is Valia Glytsis, who runs The Paradox of Leadership, a leadership education firm based in New York and San Francisco.
Valia works with leaders and organizations that yearn
for a more meaningful and impactful way of working, communicating, and leading.
She’s got a blue-chip list of clients that includes HBO, McKinsey & Company, Digitas, Kiehl’s, Soul Cycle, Edelman, New York City Economic Development Corporation, New York University (Stern), Georgetown University.
In our wide-ranging discussion, we talk about the ways Valia builds her firm’s visibility through writing, hosting events, and speaking engagements.
We talk about the three main revenue lines of her firm, namely executive coaching, training seminars, and keynote speeches.
She reveals her morning routine – and I’ve already adopted some of her practices myself.
She discusses her three core values, how she chose them, and what role they play.
On her website, theparadoxofleadership.com, Valia has some audio products for sale, and she was kind enough to offer listeners of Unleashed a promo code INSPIRE good for 20% off her audio program or her private coaching program.
Robbie Kellman Baxter served as a consultant to Netflix when all they did was mail out DVDs. That experience got Robbie thinking deeply about a new emerging business model. She developed these ideas over a period of nine years before publishing in 2015 her book The Membership Economy: Find Your Superusers, Master the Forever Transaction, and Build Recurring Revenue.
In our discussion, Robbie goes into some detail of how the book came about, how she promoted the book, and how it transformed her practice from more traditional consulting projects to work that is more advisory in nature . She has made an investment in becoming a thought leader, and it has paid off: Robbie is regularly invited to give keynote speeches and she has clients who’ve read the book reaching out asking for her help. You can learn more about her work by reading her book, the membership economy, and by checking out her website: peninsula strategies.com
Robbie studied at Harvard College and Stanford Business School, and started her consulting career at Booz Allen. She has been running her own consulting firm, Peninsula Strategies, since 2001, so she has been a successful independent professional for 16 years.
Several years ago, Srikumar Rao left a comfortable tenured position to set out as an independent professional. He now gives keynote speeches and offers his course to corporations and the general public around the world. His TED talk has been viewed nearly a million times. Learn more about Srikumar at https://theraoinstitute.com/
Srikumar created one of the most popular courses ever at Columbia Business School: Creativity and Personal Mastery. It is the only business school course that has its own active alumni group keeping the conversation going a decade and more after students graduate - including reunions, and Srikumar remains a beloved mentor by the thousands of students he has taught.
Srikumar is the author of two best-selling books: Are YOU Ready to Succeed?: Unconventional Strategies for Achieving Personal Mastery in Business and Life and Happiness at Work: Be Resilient, Motivated, and Successful - No Matter What.
In our show Srikumar discusses several practical exercises from his courses that students have found particularly powerful.
Lilly Liu Minkove is an expert in the luxury retail sector. She focused on the luxury retail industry as an investment banker at Citigroup and Goldman Sachs, and as a management consultant at McKinsey & Co. Then she gained experience in industry as a Director of Strategy at Coach and as a Director of Stores for Louis Vuitton. Presently she is a partner at ArtLogica Strategy Group which she co-founded with fellow McKinsey alum Jessica Zhu. ArtLogica is a marketing and strategy consultancy for the consumer, retail, and luxury industries.
In our discussion, Lilly gives an insider's view into what she looks for when she does an in-store diagnostic. We also talk about how an independent professional can work with agencies to do large scale consumer surveys.
Learn more about Lilly's work at http://artlogicagroup.com/
Susan Hamilton is a brand identity strategist and a member of Umbrex. She is an alum of Harvard Business School and Boston Consulting Group, and her firm, sh.BRAND, is based in New York City. We talk about what a brand identity is and how Susan helps firms define their brand identity.
To learn more about Susan, check out her website at http://sh-brand.com/
Known for his wit, wisdom, and formerly purple hair, McKinsey alum, author and independent management consultant Ravi Rao reveals how we can improve the performance of individuals within the corporate culture through emotional intelligence.
As a young man, Ravi wanted to be an actor but ended up in neuroscience. With a keen interest in the function and development of the brain, he obtained a PhD in neuroscience, became a resident physician in neurosurgery at Harvard, where he studied the emotional behavior of babies.
After he made a career switch to management consulting to join McKinsey & Co., he used his training in how the brain works to bring new insights to corporate culture transformation.
In our discussion, Ravi explains why the basic element of trust is behind all progressive and profitable businesses. From being open to ideas and receptive to growth, to mitigating the loss of high-performers and enabling staff to proactively anticipate and solve problems.
Ravi talks about his process as an author for his book, Emotional Business: Inspiring Human Connectedness To Grow Earnings And The Economy: how he wrote it, published it, and how it has helped lead to further conversations.
Ravi's got a unique morning routine that is inspired by his own neuroscience training, and he shares how he starts his day.
Ravi is on Twitter @emobizguy.
Unleashed is sponsored by Umbrex, the first global community of top-tier independent management consultants.
David Fields is the author of The Irresistible Consultant's Guide to Winning Clients: 6 Steps to Unlimited Clients & Financial Freedom, one of the best books available on business development for independent professionals.
David runs a consulting consortium and serves as an advisor to independent consultants and boutique firms. In this episode, we dive into some of his key pieces of advice for client development, including right-side-up thinking, defining your firm's impact, building your visibility, how to have a context discussion, and tips on pricing.
You can read more about David's work and sign up for free content on his website: http://www.davidafields.com/
David provided a list of books he recommends:
Influence: The Psychology of Persuasion, by Robert B. Cialdini
The Trusted Advisor, by David H. Maister and Charles H. Green
The Go-Giver, by Bob Burg and John David Mann
Made to Stick: Why Some Ideas Survive and Others Die, by Chip and Dan Heath
Predictably Irrational, by Dan Ariely
Strategy and the Fat Smoker, by David H. Maister
Managing the Professional Services Firm, by David H. Maister
We'd love your feedback on this episode. Email us at unleashed@umbrex.com
Unleashed is sponsored by Umbrex.
