1.
Thou
shall not do work for a client without a signed letter of agreement
Working with no letter of agreement is the biggest mistake
any novice consultant would make. You are not an employee, you are not a
friend, you are a consultant providing a service and possibly products to bring
additional value to your client while solving a particular problem. It is good
business practice to do all work with a signed letter of agreement. Think of it
as a business prenuptial agreement. It’s best to outline the scope of the
project and identify the deliverables, so both parties have a clear
understanding of what is to be expected on both sides. This is a wise practice.
Signed letters of agreement have saved friendships and work relationships for
ages. It has also been a means of protection for the consultant, so there is no
ambiguity and therefore room for manipulation.
2.
Thou
shall be sure to provide valuable information on each proposal
As the information expert, it is imperative that you are
very detailed within that letter of agreement for your client. This ensures
that even if your client feels they are not happy with the services you have
provided, there is a benchmark for each of you to reference and discuss
appropriately. Each letter of agreement should always include:
o Objectives
o Metrics
o Value
o Options
o Terms
& Conditions
Objectives detail what outcomes will be achieved upon hiring
you as the consultant for the project. What does the client need you to do?
Metrics will list indicators to mark progress and completion of each step to
complete the project along with a timeline to which this information is to be
completed. Finally, clients are seeking some bang for their buck. It’s your job
as the expert to ensure that you translate your skill set into a necessity the
buyer cannot resist for the project on the table. Because every client is on a
budget or will try to go the cheap route on you in an attempt to prove
themselves fiscally responsible: It is a smart move for the consultant to
provide at least three price options detailing what you can accomplish for your
client. Detail who is in charge of what to ensure each team member, including
you, is accountable throughout the project. How long will it take to accomplish
the listed objectives? What are the choices for implementation? How much value
does each option will bring to your client? And we can’t forget terms &
conditions. Terms & conditions ensure each party is protected. Additional
clauses include: project cancellation, cancellation fees, project postponement,
quality of work
3.
Thou
shall always ask for ratings, referrals & testimonies.
I have this gift. If I co-sign a small business on my
personal Facebook page, the people will pay for the product or service when
they are in need of that particular amenity. I mean seriously, it’s how
potential clients jump off of the fence and into your clientele. Someone else
took the risk for them! Until you gain the trust of a potential client, they
will continue to opt for all of the free information you offer. Ratings on your
business page are the most watched area of your social media, thus providing
someone on the fence with paramount information. Referrals and testimonies of
previous clients bridge the gap of trust. For those customers who wish to
remain anonymous, a referral will do just fine. The goal is to continue to
build your list and ultimately increase your profit margin. References,
testimonies, and email addresses are gold in the consulting world.
4.
Thou
shall never discuss client information with the staff of your client
There are two things you should never, ever, never discuss
with their workforce: confidential information and client flaws. You are the
consultant for a reason. You did not take on this project to make friends, join
the coolest workplace cliques, or to gossip about the latest and greatest news
everyone has heard around the office. When you hear information like this: Do
not participate! While it’s true you may not be able to change the culture of
the company; you do not have to yield to such unprofessional measures. Doing
either of the two could lead to immediate termination of your consulting
contract. If your contract is terminated, I can guarantee you will not be
invited back for a future project.
5.
Thou
shall never let your clients add on additional responsibility without adding
additional fees to the invoice
Do not pass go. Do not collect $200. Go straight to your
contract agreement! Never allow the client to grab you “since you’re here
anyway” to do additional work since you are “on their payroll.” Let’s face it:
being a business owner is tough. There are times where the CEO feels it
necessary to pinch every penny earned. If you as the consultant are not
careful, you will be doing additional work to prove your worth to yourself and
keep the client happy. Do not fall for this trap. When the agreement was signed,
there was an objective, scope, metrics, timeframe, and pricing that was agreed
upon. It is not of any concern to you that the client wants to ensure they get
their money worth by providing additional services without extra costs paid to
the consultant. To be clear, it’s fair to ask for an opinion of a logo or
branding color “since you’re here anyway,” but should the client attempt to add
additional tasks, be sure to reframe politely. For example, you reframe by
ensuring they want you to complete the current project, which is of top
priority and inform the client that you could send an additional proposal or
amended proposal to ensure those extra tasks are completed as well for a
nominal fee of course. Moral of the story: even if your client is s non-profit
you are for profit. Your time, talent, and know-how are of high value. Do not
fall for the "add on" trick.
6.
Thou
shall know your worth
Your client pays to execute concerning three gems you
possess:
a. Degrees/Certificates
b. Experience
c. Knowledge
Your execution by implementing a successful strategy or
completing a project your client is pleased with all due to the gems you
possess. In all fairness, because you can’t resend your degree to Sallie Mae or
Navient, it’s best that you put that degree to work for you. Your fees are
indeed justified because you have the experience, but also years of educational
training further confirming your expertise. Don’t apologize for the rate you
charge. Be sure to charge enough so that you are adequately compensated and
able to complete the project without taking a financial loss. Translate your
price by knowing your value. What do you bring to the table? How are you able
to translate those three possession gems into a winning formula for your
client? Once you know your worth, you can convey to your client why they need
your services and how valuable it is to them for their current project.
7.
Thou
shall always negotiate
If you don’t negotiate, you will always cheat yourself. Let
me break the news to you now; you will regret that decision later should you
decide to move forward by accepting the position and being underpaid for
everything you bring to the table. Word of advice: deals come, and they go. Do
not feel compelled to say ‘yes’ to the first deal that is placed on the table.
There is always room for negotiation. Adding insult to injury, there is
significant gender pay inequality, and I’m led to believe that it is because
women forego negotiating better salary packages to maintain the positive
reputation of “the nice girl” instead of being perceived as demanding when
asking for more. If you need to walk away from a deal, do so respectfully, but
negotiating is necessary. As a woman, mother, and a businessperson, I’m not
negotiating to be rude or greedy, I'm negotiating for my family of seven in
addition to any other financial obligations. Not only are you worthy of
negotiating, but it is also very necessary that you do so to earn what you are
worth instead of what the client is willing to offer.
8.
Thou shall
always be visible
As a leader in your field of expertise, it is imperative
that you are visible on many platforms. Your customers are on various platforms
and let’s face it: it’s more advantageous to spread the knowledge to catch new
clients in places like:
o Social
Media (Facebook, Instagram, Pinterest, Twitter, Snap Chat, Periscope, Linked
In, etc.
o YouTube
o Blogs
o Magazines
o Online
Articles
o Press
Releases
o Speaking
Engagements
Opportunities come the more visible you are. People don’t
care that you are the next thought leader of your generation or best
influential architect (leader) in your area of expertise if you cannot be
found. Share the wealth. Hook your potential client by sharing useful
information (for free) on various platforms. The clients you secure from
magazines may not be the same as your podcast audience and may also
differentiate from your YouTube subscribers.
9.
Thou
shall always open your mouth
The more you open your mouth, the more you grow your
business. I’ve been guilty of this in my beginning days of consulting. I’ve
been guilty of not using titles for humility sake and to stay in my comfort
zone. And as a result, I had little to no paid clients. And I was up to my
eyeballs with pro bono work. I’d given enough free work to build my portfolio.
Don’t do it. Sometimes it’s a small gesture such as sharing your
accomplishments and skill set is necessary to yield those lucrative projects
you so desire. Opportunities didn’t start to come until I began to open my
mouth. The anxiety was real! I didn’t want to come off as braggadocios but, as
the saying goes, “closed mouths don’t get fed!” For those who struggled with
being perceived as cocky instead of unapologetically knowledgeable: “It’s not
bragging if you have the receipts!” You’ll thank me later. Be clear about what
it is you can do for the client, what problems you can solve, and what value
you bring to the table. You sell what you know, always be learning, and always
be sharing. Open your mouth strategically.
10. Thou shall not betray your moral compass
10. Thou shall not betray your moral compass
I’m not opposed to passing on a sound financial opportunity
where I would be forced to betray my moral compass. As a consultant, do not be
afraid to trust your gut. Do not betray your moral compass for monetary gain.
All money is not good money! If it causes you to betray your values and code of
ethics, chances are it will cost you more than you ever stand to gain from
accepting the position. Believe me; it’s the experience you’d wish you’d
learned from someone else instead of having to go through the unproductive
experience yourself. Your personal and professional values frame the type of
client and projects you are willing to accept. Do not betray the framework
meant to protect your sanity as well as your brand. Follow these commandments
and watch your consulting practice flourish.
---
The CEO and published author is a millennial M.B.A. graduate in
love with helping others fulfill purpose by working in the areas of writing,
personal development, business leadership, and project management. Tricia J. specializes in non-profit
organizations, project management, business administration, organizational
strategy, and small business start-ups. She’s also a mom to a starting lineup
of 5 little A’s. Check out her business blog: The
Entrepreneur’s Guide to: for the latest merger of pop culture and
business tips.
Here’s where it gets interesting. Most people covet the celebrities of social media. These Internet celebrities sell anything from t-shirts with their favorite slogan; detox tea, protein, teeth whiteners, and even books. Then there are the elite that venture over into retail and cosmetics. Gucci Mane’s girlfriend, Keyshia Kai’or; Love & Hip Hop Atlanta’s Rasheeda Frost; and now Keeping Up With the Kardashian’s Kylie Jenner’s lip kits. She’s joined many seeking to expand her brand. She secured a manufacturer, created a buzz, and began distribution of her lip kits to customers who preordered. Go Kylie! Selling out in 15 minutes is very admirable!
The most successful entrepreneurs like to live on the edge. We do “it” afraid. Many liken the experience to jumping off of a cliff and building an airplane on the way down. Taking a business risk reminds me of the pregnancy process: it’s exhilarating, taxes your body, drains your finances, it can be uncomfortable (please get used to being uncomfortable,) and you lose plenty of sleep. It has painful moments: moments of unsurety, it stretches you, makes you stronger, more flexible, and more fearless. The freedom an entrepreneur possesses is birthed through the experience that gives you your fearlessness: the birthing process. In the end, everything you experienced no matter how tumultuous, was worth it. Yes, we entrepreneurs take risks unlike any other, but what’s a normal journey look like anyway? Don’t fight it. Taking calculated risks in your can be one of the most freeing and rewarding experiences you will ever have.
In the words of entrepreneur, Ming Lee, “the best marketer wins.” And the award goes to... Mrs. Bootylicious Carter! Marketing talent is rare. She’s no Mary Kay Ash by creating network marketing, but all it takes is one post on social media and the BeyHive is spending tax money on Formation Tour tickets; paychecks on Ivy Park athletic gear; or fasting lunch to purchase the latest $20 album. How can this information help your business? Market your product/service in such a way that your customers praise your greatness without you having to tell them to do so! The best marketers know how to tell one hell of a page-turning story to grab your attention, keep your attention, and close the deal with the customer purchasing what’s been placed in the cart online. Geniuses close the deal!
It is a must you learn how to be a great storyteller as an entrepreneur. Authors typically sell their life experiences. Beyoncé took her alleged sour life experiences and turned them into a lucrative visual masterpiece. There’s no reason why you can’t sell your pain and profit from life’s misfortunes. Some take lemons and do nothing. Some are smart enough to make lemonade. Some make lemon drop martinis. But the entrepreneur distributes it as a product or service and makes a profit! Be like Beyoncé, profit from your life experiences.
