How to Start a Business

[This is Part 2 of a 2 part series on Consulting Advice.  For part one click the link to the right:  Consulting Advice & Pulp Fiction Part 1]

- A quick warning – the clip is from Pulp Fiction a film by Quentin Tarantino. Thus, the language and content are that of an R-rated film

Consulting Examples from the Clip:

• Exceeding Expectations: “30 Minutes away; I’ll be there in 10” (he actually arrives in 9 mins 37 secs)
• Compelling and Provocative: Upon entrance the wolf says “My name is Winston Wolf I Solve Problems” (This also sets the client’s expectations)
• Credibility – Vincent and Jules know the Wolf’s reputation immediately; in fact it calms Jules’ nerves when he finds out the Wolf is coming; Why? The Wolf’s credibility was established tested and true. He’ll solve their mess.
• Customer being satisfied – He made Jimmy happy. He managed the client as well as his “project.”
• What we all want from consultants: Wolf says “Time is a Factor – I think Fast, I talk fast now I need you to act fast.”

Again for part 1 click the link to the right:  Consulting Advice & Pulp Fiction Part 1

A quick review: First as consultant you must solve a problem for the business owner. This will establish value. More thank likely your credibility is established through your degrees and experience. So you’ll constantly need to maintain this credibility through the project life cycle.

Next you need to align your success metrics with one thing: Is the customer satisfied with your work? Many people who consult will consider success as project delivered on time and on budget. While this is an important part of measuring success the paramount importance is customer experience. Is the customer satisfied? Yes – then success. We’ve heard consultants say things like: “The client didn’t get my expertise or great spreadsheet…etc” Well, as a consultant the client is king so you have switch your paradigm to what can you do to make it so the spreadsheet is understood (and valuable).

A successful engagement fully manages customer’s experience. Set the expectations of the customer so you can manage your success: How often are you going to call, meet, and/or provide information? Put yourself in their shoes. This is their business and the money for your services are coming out of their back pocket. How to do get them to the point where they pay you more because you exceeded their expectations in solving their problem?

Here is an example of poorly managing my customer’s expectation: I scheduled a series of meetings without allocating enough time between the meetings. I was a few minutes late to a meeting with a client where I was delivering the valuation for his company. This client placed a high value on time and punctuality. So by being five minutes late I severally damaged his customer experience. His expectations were not met. Regardless of the fact that the project was delivered on time and on budget I was late. Project was a failure.

Simply said: The customer’s perception of the product and experience should be first. Not the quality of the product. Don’t sacrifice the quality just put the customers perception first.

Looking at the Pulp Fiction clip: Watch how the Wolf manages the husband (that is his real client); he is very aware and accommodating to the husband. Wolf’s success is makng sure Jimmy is happy (and Jimmy’s wife) as well as dealing with the issue.

Another quick point: be careful with the hourly charging. Remember as a customer I want the problem the solved for an agreed upon amount. Hours to the customer don’t matter. This is a annoyance of many business owners. Why should they be charged for breaks, calls, or a lunch meeting where only half the lunch was used for business. This falls in line with managing the customer’s experience. Don’t ever make the customer feel like the clock is ticking.

Lastly, I end with a word of caution to executives leaving corporate America to help small business owners. Remember that your experience is different not better. There seems to be an attitude that small business owners need the help of large business executives. Small business and large business are 2 very different worlds. I wouldn’t hire football execs to help out a baseball franchise. To me the attitude should be switched, as entrepreneurs are responsible for a far greater percentage of jobs in the US.

So consultants follow this from Wolf: “Time is a Factor – I think Fast, I talk fast now I need you to act fast.”

[This is Part 2 of a 2 part series on Consulting Advice.  For part one click the link to the right:  Consulting Advice & Pulp Fiction Part 1]

Related posts:

1. Consulting Advice & Pulp Fiction: Consultants – Be Like the Wolf and Solve Problems Part 1