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Being a self-employed consultant or “solopreneur” isn’t for everyone. I made the leap to independent consulting in 2004 and never looked back. Now I run a national talent agency for HR consultants as well as the Professional Independent Consultants of America, both organizations that help independent consultants be successful.
Create and managing a sales funnel. We spoke to our friend Brian Sullivan, Vice President of Global Accounts at Sandler Training , who offered us this advice: View Your Sales Funnel as a Live Tool. Your sales funnel is a living entity that needs regular attention. More on tools for managing your sales funnel in a future post.)
That is the moment when the client thinks to him or herself, “Okay, maybe the $1 million consulting fee was worth it.”. They’re obsessively concerned that their sales growth will be too low to generate enough cash to pay the bills. When revenue is collected, that’s called positive cashflow. that’s interesting.”.
If you want to achieve sustainable success as a consultant - ideally you want to create a marketing system to ensure you have a consistently full pipeline of right-fit clients. However, there will be times when you have to feel the cashflow pressure and need to find clients.right now! ” If yes, offer free consult.
If you want to achieve sustainable success as a consultant - ideally you want to create a marketing system to ensure you have a consistently full pipeline of right-fit clients. However, there will be times when you have to feel the cashflow pressure and need to find clients.right now! ” If yes, offer free consult.
Sales – Selling products is easier when salesmen can provide customers with a range of value options, as well as upsell and cross promote … “Would you like fries with that?”. Diversified revenue streams – A firm that sells multiple products will have lower revenue risk because it is less dependent on any one product to sustain sales.
Welcome to yet another opportunity to gain valuable insights from a book review, written by Preeti Vemu, MC intern, MC events organizer extraordinary, and an ex-Deloitte consultant. Every section of Boston Consulting Group on Strategy is a comprehensive article offering insights that can be applied to any business circumstance.
All acquirers will want to increase cashflow, but the length of their investment in the company will differ, depending on the type. If your client wants to integrate the target, is there potential for synergy, either by piggybacking one company’s strong areas onto the others to increase sales or by reducing operating costs?
Also, as we explained in an earlier article , we believe that being an established CEO of a small firm involves much less angst than being a senior member of a consulting, investment banking, or private equity firm. This leaves us only with the cashflows that occur between the purchase and the eventual sale.
Management consulting is an industry that offers assistance with this kind of high-level decision-making and problem-solving. Management Consultants help businesses make strategic decisions that directly impact the entire company. What is Management Consulting A lot of people ask me, “What is management consulting exactly?”It’s
That places a huge cash burden on the distributors and suppliers. The cashflow model is incredible,” said Adrian Hoffman, an owner of Four Star Seafood in San Francisco. Selling directly to consumers is almost a better business in that it spits out enough cash to pay off everything we owed.”
At Consultant Journal, we know many entrepreneurs, small business owners and consultants wonder about the business impact. Think about what’s actually needed for your sales and marketing : Wave or nod instead of shaking hands. Take a look at your cashflow and what a change to sales or staffing could do.
Share » Connect » Blog: Consulting and Organizational Development. Quick Tips for Consulting to Small Organizations By Carter McNamara on October 26, 2011. Don’t be afraid to look at the “business” or “hard” data, at least to understand the cash situation of the organization.
In this post we outline some mathematical concepts that may prove useful for solving consulting case questions. Net Present Value: The NPV of an investment is the present value of the series of expected future cashflows generated by the investment minus the cost of the initial investment. (Source: Flickr ).
Time to bring in a consultant. But what does a consultant for small business cost? What is a consultant for small business A consultant for small business helps smaller organizations achieve their goals. The clients these consultants work with are no larger than 250 employees, typically between 15 and 100 employees.
There are a couple of reasons for this: Asset managers can see cashflow and earnings fluctuate wildly with markets. For alternative asset managers such as hedge funds, their cashflows may be cut by more than half as profits fall and they collect a smaller fee from their profit participation agreements.
A December 2, 2016 Wall Street Journal article was titled, “ Car Sales Roll Along; Aided by Discounts.*” The gist of the article was sales are up over the same month a year earlier and the average discount was 11%, versus 9.4% He knew cashflow. Or should we say he knew short-term cashflow.
Our Consultants are meeting with Business Owners around the world every day. They are seeing first hand how many opportunities are being missed to improve profitability and cashflow just from existing operations alone. This is Profit that is being missed out on from areas of the business that aren’t operating as they should.
Since Immelt’s departure, GE’s stock is down another 30%, as its new CEO, John Flannery, has struggled to cope with the cashflow drain from years of problematic acquisitions, divestitures, and buybacks. Because of these dubious decisions, GE’s ratio of debt to earnings has soared from 1.5 in 2013 to 3.7
The company does $15-20 million in annual sales and the owner has taken a fancy to being “one of the guys.” An owner who should be keeping customer relationships tight, managing cashflow, motivating his people, etc. appeared first on Martinka Consulting. He thinks it’s fun. And I’ll bet it is fun.
I’m working with a private equity firm to find add-on HVAC, plumbing, electrical, or refrigeration companies for their plumbing construction firm in the Seattle area (so if you know of any doing at least $5 million in sales who want an investor let me know). The post What is Your Real Income appeared first on Martinka Consulting.
I’m seeing more and more owners of small businesses ($3-10 million or so in sales) thinking their company is going to be priced the same as a $50-100 million firm. In the last few weeks owners (of companies doing $3-10 million in sales. I expect to sell my business for 6X total cashflow (profit or EBITDA plus owner salary).
And this applies to any type of deal, not just the sale of a business, where terms influence the price. The seller got a higher price so she was more motivated to do a deal, the buyer has improved cashflow to grow the business and improve operations, and isn’t that what it’s all about. appeared first on Martinka Consulting.
Richard but in a sales system and culture, which attracted customers and high-quality employees. You trade your capital for immediate cashflow, i.e. you get a paycheck on payday just like everybody else. The post Forget Startups – Buy a Business appeared first on Martinka Consulting. Have a 100-day plan.
In the Discounted Future CashFlow method profits are projected (same as the first issue) and discounted back to a present value. Using comparable sales of much larger firms will distort the value. The post Business Valuation Lessons From ESOPs appeared first on Martinka Consulting.
Record number of small business sales in 2018! PriceWaterhouseCoopers – Two-thirds of companies with sales of $5,000,000 to $50,000,000 will change hands in the next 10 years (2011). Magazine – 65-75% of small companies in the US – some 10 million – likely hang up a “for sale” sign in the next 10 years (2015).
You must use free cashflow to truly calculate ROI. Financial diligence – we agree a Quality of Earnings report is not usually necessary for small business deals (those that fit in the SBA loan range) but you must get a “proof of cash” from a CPA firm. Trust but verify” as President Reagan said.
You may think it sexy to make something but if you’re a sales type with no manufacturing experience it’s probably a road to disaster. I recently saw a business for sale and on the surface it looked great, with $1 million of earnings. The post Getting Your Deal Done appeared first on Martinka Consulting.
Professional services is an expansive space spanning several industries – consulting firms, software publishers, IT service providers, even manufacturers and distributors that offer post-sale services — each with its own set of challenges, regulations, and opportunities. They’re also engaging customers in new, value-driven ways.
You’re spending far too much time talking about fixing cashflow problems (remember, that’s typically a symptom of a far bigger problem). When you believe several acquisitions are the key to stellar sales growth. For about the first 6 years of my CFO consulting career, I was generally generic.
“The decision-makers will want to see a simple model that shows revenue, costs, overhead, and cashflow,” he says. ” Joe Knight, a partner and senior consultant at the Business Literacy Institute and the coauthor of Financial Intelligence , says that an absence of financial savvy is “career-limiting.”
Work with contractors To get over that initial cash-flow issue, it can make sense to rely on contractors instead of employees. The sequence is important: Get sales right first. But in order to accept more business, you'd have to already have that new team member. It's chasing your own tail.
When it comes time to sell however, they want to demonstrate that the business has more cashflow than the tax returns (and financial statements) show. Similarly, I once saw a deal where it was stated that if the buyer reduced the sales staffs’ commissions from 10% to 8% this adjustment would create more profit.
‣ Stephen Devaux (USA), is a project management theorist, consultant, author, and educator with 36 years of experience. It’s important to remember that, all else (risk, cashflow, community relations, ethical or legal constraints) being equal, NO project sponsor has ever said they want LESS value from a project for their investment!
The Power of Unity Firms need real-time insights into the entire business – finance, project accounting, sales, everything – otherwise multiple versions of the truth will start showing up in budgets, estimates, and forecasts. It prevents you from generating reliable cash-flow forecasts and makes it incredibly difficult to manage resources.
It’s tough managing 50 people instead of 15 or handling cashflow at a level beyond what the line of credit allows for. You can’t look at the write-up of any business for sale without seeing the word potential. Flat sales (and therefore decreasing profits) narrow the road. You’ll be rewarded in more ways than one.
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