Luk’s Bi-Weekly 'Think Piece' For Consultants

Edition #33 - September 15, 2021 

Dear reader, 

Here's the latest Edition of 'The Authority', helping consultants grow their revenue by sharing intriguing educational stories.

It’s my ultimate aspiration to create a bubble of calmness with this bi-weekly ‘think piece’, a place of stillness in the face of everyday stress. A chance to reflect on what really matters in your consulting work.

The Big Question

Questions I get from consultants. And my answers.

I published my recent blog about productizing consulting services and received several questions about it. I will go a little deeper here with my ideal approach, a step-by-step process, the key success principles, pitfalls to watch out for, and a long list of examples from other consultants. Enjoy reading!

Standardizing your services is an important element of the consulting business approach that I advocate, but it will only work if you change your mindset about:

(1) narrowing down your focus and expertise, you need to understand all the patterns of the prototypical pains of your (narrow) target audience;
(2) designing a client-pain-centered value proposition (see my new workshop), sharply positioning your expertise to prospects;
(3) allocating 25-30% of your time consistently to marketing;
(4) learning to say no to incoming opportunities outside of your narrow area of expertise to protect your time and expertise deepening (and to have a high quality of life, see my post about my 4-day week)

In my recent blog, I already discussed the following topics:
● Why tailor-made service offerings are draining for (upstream) consultants
● Advantages of productizing your consulting services
● Packaging your services doesn’t mean eliminating personalization
● How to switch to a packaged service model

Here are the new productization topics for today (based on the questions I received):

● Definition of productization in consulting
● Why do clients buy productized consulting services
● The 3 steps in productization of consulting services
● Step 1: It all starts with paid upfront discovery

I will explain these topics in my next newsletter, edition 34 - September 29th.

● Step 2: Roadmapping as a core component of productizing in consulting
● Step 3: The long tail: your advisory retainer, the client’s ‘peace of mind’
● Pricing of your productized consulting services
● 10 Examples of productized consulting services you can learn from
● Tips to help you make a move to productization in consulting

What is productization in consulting?

I got a few requests to define productization. There are many definitions, but most of what you will find is about productization online services, and that’s a different space than consulting work.

Let me use this definition from author Jonathan Stark: “A productized consulting service is fundamentally a service, but with product-like benefits that allow you to systematize and optimize the packaging, pricing, marketing, sales, delivery, and follow-up.”

Why do clients buy productized consulting services?

I’ve already explained the advantages in my blog, but here’s the client's perspective: they know exactly what they will be receiving and what it will cost. I’ve been talking about this already several times: buyers have a short-term horizon these days (3 to 6 months), they are looking to solve their problems fast and reliably.

Productized services are the most inviting format for them to get your ‘expertise in a box’, reduce risk, increase decision-making and delivery speed, understand the scope and timing, outline their precise involvement and seize the final output/delivery they will receive. Sounds like a stroke of genius, not?

My preferred consulting productization model

Here’s the 3-step process I’ve been using myself and which I am teaching my consulting students:
1) perform an upfront discovery/diagnosis
2) develop a roadmap for the implementation (implementation done by the client)
3) provide implementation guidance

It doesn’t matter being a solo expert or a member of a consulting team or big firm. It doesn’t matter if it's a 15k or a 500k project scope. In my next newsletter, I will also explain the specific opportunities for consultancies, small or big (compared to solo consultants).

It’s a unique way of conducting consulting projects and remain in the driver's seat all the time. Believe me, you can apply it in almost any consulting project. Yes, any.

Productized Consulting Approach

Step 1: Upfront discovery and/or diagnosis

Let me be straightforward with you. I would never start a consulting project again without PAID upfront discovery. I’d advise you to develop a solid diagnostic (probably with external specialist/scientific support) on the back of your expertise.

I’ve learned that most clients don’t understand their problem(s) or have difficulties explaining it accurately. The biggest win? You don’t write proposals. Never. You are not an order taker but an expert, an authority in your expertise domain.

Your diagnosis is your fixed-priced methodology to understand the client’s problem and is your stepping stone, your Trojan Horse to start the engagement. Clients commit to a precise and transparent project with a specific result in mind: understanding the outlook and specifics of their problem and receiving a roadmap (step 2) for improvement.

Included in your diagnostic: every possible characteristic of the prototypical client pain you are specialized in. And all these characteristics are the input for your roadmap in step 2.

See you back in the next newsletter for part 2.

Would you like to send a question for one of the following newsletter editions? Please send it to me here. 

The Disturbing Truth

Unsettling revelations from experts I admire. And from myself.

Every Monday morning, I share consulting-related advice on Linkedin to start the new week. 

This advice reflects years of my passionate thinking about the consulting profession and spans almost 2 years of writing. I've mixed my own quotes/advice with carefully selected expertise from experts I admire, and you may never have heard of.

Here are the quotes from the past 2 weeks. Let the inspiration be with you (if you let it). 

Topic 6-9-2021: Every consultant can achieve authority.

Anyone can achieve business authority as a consultant by producing valuable content if they truly want to. I’ve done it twice, starting as a complete unknown in each. My core content has always been based on my experiences in the trenches of consulting: case studies, lessons learned, how-to articles, interviews with key stakeholders/clients about successes and failures, research findings, latest trends.

Topic 13-9-2021: Allergic to marketing? You are in trouble!

When you are under pressure as a consultant to achieve short-term revenue (or income) targets, cutting out time for marketing and business development with a long-term perspective is not easy.

The consulting world is hard and is getting harder. No one is coming to save you. There are very few big wins these days but a lot of little wins. To win new clients, you have to do much work, and there’s no guarantee at all. You don’t get rewarded for trying, failing, or working hard.

And if you are allergic to (online) marketing and sales as a consultant, you are in deep trouble.

The Irresistible Content

I write a lot. Here's the update from the past 2 weeks.

🅾️ Webinars: [UPDATED] All past webinars summarized here

Check out the summary of the latest webinar – Creating Your Unique Value Proposition as a Consultant.

I regularly update this page with the recording and numerous other resources that I share with the participants. If you haven't had a chance to attend one of my webinars yet, make sure to check it out.

🅾️ Other content from the past weeks:

TVA blog: Regain Control as a Consultant by Packaging Your Services

LinkedIn post: Why do consultants end up with ‘bad clients’ so often?

LinkedIn post: You have been fooled, you are not unique!

Recent podcast: How to Stand Out As a Consultant with Luk Smeyers

The Authority, previous edition: Edition #32

 The Inspiring Reading

I read a lot. Here's what I am reading right now.

I am reading between 30-50 books per year. Here's my latest recommendation:

‘Four Thousand Weeks’ by Oliver Burkeman

You know how much I love Adam Grant’s writing and way of thinking. He describes Oliver Burkeman’s book as “the most important book ever written about time management.” Wow! 

What I truly appreciate about this book is that it dismantles this myth of time management – wrongly assuming that, one day, you’ll get everything done if you just have the right system. Forget it.

That’s what I always teach to my clients and readers – you can’t possibly sustain the most brilliant time management system if you fail to say no to opportunities, people, and activities that do not fall in your narrow focus.

I keep repeating: there are 3 significant components to successfully managing your time:
1) building the right consulting business model;
2) dealing with your underlying mindset challenges (e.g., fear of missing out, imposter, procrastination, etc.);
3) getting good at mastering productivity tools and time management systems.

Burkeman’s book is a highly practical guide to time management, which ultimately starts with embracing your limits: “dropping back down into reality, defying cultural pressures to attempt the impossible, and getting started on what’s gloriously possible instead.”

Burkeman explains the importance of “getting meaningful things done,” whether in our professional or personal lives. And that's the new perspective of this book. We don’t have time to do everything. We only have 4,000 weeks to live if we live till we’re 80. But we do have time to do the important things.

An excellent book!

The Inconvenient Number

Evidence-based learning for consultants.

The Secret Backstage

A sneak peek behind the curtains of my business. Luk's lab.

Website credibility

We all know that consulting is a so-called credence business: buyers need to trust us before buying. On numerous occasions, I’ve mentioned that potential clients will check you out before they decide. You’d better have a credible website, social media presence, and an abundance of ‘trust stuff’ demonstrating your expertise, as Seth Godin is calling it.

The data from Hinge Research I always use:
● +/- 90% of buyers check you out before they decide
● +/- 80% of consultants get disqualified immediately as a result, wow!

My website and 'trust stuff’ are like ‘my house’, my core asset to grow my consulting business. I am obsessed with it. Don't you hate it when you visit a website and you are presented with a bunch of inaccurate information?

Well, who doesn't hate that?

That's why Google released the E.A.T. (Expertise, Trust, Authority) update in 2018. Reason: to showcase sites with expertise, authority, and trust much higher. Because they know reputable brands and experts are less likely to present false information.

But how do you increase your "credibility" so Google sees you as an expert or authority? I found a great article from one of the best experts on the globe, Neil Patel. Here’s Neil’s article you might want to read.

The Inevitable Learning

The programs I am teaching. To become a better consultant.

🅾️ Free webinar: October 13 at 2:00 PM CET

Symptoms of poor positioning as a consultant and what you can do about it

Only very few consultants master the art of positioning despite the fact that their positioning has the single biggest impact on the buying decision. In this webinar I will help you with the following:

● Why positioning has the single biggest impact on the buying decision

● How to recognize the symptoms and the impact of a poor positioning as a consultant

● How to tackle poor positioning symptoms – the do's and don'ts

● How to utilize your new positioning to positively impact future buying decisions of your consulting service

You can find out more and register here.

🅾️ Workshop: October 19-20-26, 2:00-5:00 PM CET

Develop Your Unique Value Proposition: How to craft a strategic narrative that your target audience will respond to

This workshop will help you and your consultancy stand out in a crowded market and attract the RIGHT kind of clients and is led by me in a live interaction with you and a group of other consultants, your peers in the consulting space.

It’s spread over 3 sessions in October, with virtual classes of 3 hours.

This workshop is THE place to start learning the underlying principles and frameworks to build your skills and know-how and connect with like-minded peers, also changing the way they will do business as consultants.

You can find out more and register here.

🅾️ My private training program, limited slots for 2021

I have A LIMITED NUMBER OF SLOTS in 2021 for senior consultants eager to attract their ideal customers and grow their consulting business consistently.

This individual training program starts with a full audit of your market positioning and covers the necessary advice for long-term improvements and quick wins. The number of participants for this 1-2-1 virtual training is limited. Access on a first-come-first-served basis.

Here's the link to the info page with the program content. You can book a call on this info page to discuss your participation. 

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Previous 'The Authority' edition: Edition #32

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