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Monthly tips to improve the business and practice of members of The Society for the Advancement of Consulting, LLC - Issue #80: May, 2010

Twelve things to remember as the economy speeds into recovery:

Twelve things to remember as the economy speeds into recovery:

  1. Clients, tired of slow times, will want instant gratification.
  2. "Do more with less" isn't going away.
  3. Hourly billing practices are increasingly being scrutinized by intelligent clients.
  4. Emphasis on the short-term will predominate, because longer-term views will be undermined by past economic volatility.
  5. There will be fewer levels between you and the buyer.
  6. Top-line growth will be the key to success. You can cut expenses in a downturn, but you can't cut your way to market leadership.
  7. Employee loyalty will have to be rebuilt, and I've not seen organizations with unhappy employees and happy customers.
  8. There is a lot of talent available on the market. Your clients should think about "drafting" better players and getting rid of underperformers.
  9. Now is the time to take the labor intensity out of your business and focus on getting results quickly and visibly, not worrying about tasks, inputs, and deliverables.
  10. Traditional sources of corporate education—trade associations, professional groups, university extension courses, training venders—have less and less influence and impact.
  11. All consultants need to coach as a matter of course. Stop surrendering this turf to non-consultants with pieces of paper claiming they are coaches because someone arbitrarily said so after money changed hands.
  12. Create intellectual property and obvious value that draw people to you, minimizing cost of acquisition and avoiding any focus on price or fees.
 
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