What are the most effective ways to approach a new consulting engagement?

A consulting engagement is a project, hence project management principles will apply. A great beginning would be to create a project charter: 1. Engagement objectives 2. Problem statement 3. Deliverables 4. Scope 5. Key stakeholders and their requirements from the engagement 6. Stakeholder engagement plan 7. Risk mitigation plan 8. Team formation and role clarity These aspects appear to be trivial and theoretical but, in my experience, they have the potential to make-or-break the engagement. Most engagements fail due to a loosely defined scope or a poorly defined problem statement / deliverables. Substantial time, effort and thought should be devoted to these aspects while starting a new engagement.

A few watch-outs here: 1. Manage the client's impatience at this stage - they are paying for you to learn what they already know 2. "Understanding" the problem should include sizing it, asking about the history of trying to solve it, and noting whether different factions within the organization define the problem differently (or see different root causes). 3. Therefore, start pivoting quickly to talking about the "solution" instead. What would the world look like when the problem is solved? Who would get what kinds of benefits? What would be the WRONG/unacceptable way of solving this problem? What would it take for people to endorse a solution - i.e., what is the burden of proof for you? This will help you align and energize the client

1. Define the Scope: Clearly outline the boundaries of the problem. Understand what is within the project's scope and what is not. 2. Identify Stakeholders: Recognize and engage with key individuals/groups affected by the problem to understand the perspectives 3. Gather Relevant Data: Collect data that is pertinent to the problem. This may involve analyzing existing reports, conducting interviews, or leveraging other research methods. 4. Contextual Understanding: Consider the broader context such as industry trends, economic conditions, and regulatory environment 5. Problem Framing: Formulate a problem statement that captures the essence of the issue and its implications.

To solve any new consulting engagement, it is important to correlate the objective of the engagement and the core problem statement, with similar situation from past engagements of similar industry or different industry. Once we have the similarities, we do not have to re-invent the wheel of the engagement roadmap again, rather we will have to bring in an adaptive approach to realign the solution from past to the new situation. This approach gives faster method of solving the current engagement situation.

Listen, Listen, Listen … then propose Solutions. Hand-pick the best Team for the job. Fit in to the Client’s workplace and train your counterparts every step of the way 💫

While understanding the exact problem of the client would be the first step, it would make sense to make the client understand that they can count on you to help them. This can be done effectively through examples of similar cases you've worked on. Staffing the project team with experienced professionals from the particular industry would instill lot of confidence in the client. Clearly communicating the deliverables, timeline, and the budget would make the client feel much more comfortable in the engagement.

I prefer my clients have a sense of ownership of the solutions. I also prefer reframing from problem to possibility. My approach is DWY (Doing With You) rather than the prescriptive, non-inclusive DFY (Done For You). I help them map their possibility ecosystem, as "problems" never come isolated from other interdependent challenges. I always start with a blank canvas, without any preconceived template or tool. That allows me to mindfully listening to the client's description of their needs and challenges, as a basis for what'll come next. An abundance mindset is crucial, there's no sense in granularly count time or sessions. But, a rough boundary has to be set regarding time and attention demand, being very flexible. Make them feel good.

All good advice, however I would add initial research, or intel gathering, a thorough understanding of the client, their industry, who they currently or have used in the past for consulting services, if you have a good network, you may discover that this project or solution has been attempted before (I had one customer that had attempted to solve the same problem 9 times before!). It is a huge advantage to understand all the pieces at play, is this supported by tech but not business units? Are there competing solutions being worked on? Yes, ask questions and listen, but also bring as much knowledge to the table as possible, not that you need share it, but forewarned…

En mi opinión la clave es entender de que nuestro cliente es el Héroe / Hereoina y que nosotros debemos acompañarlos en el viaje. Nosotros debemos transmitirles confianza, autoridad y empatía. Pero es importante entender que los protagonistas son ellos y nosotros los vamos acompañar. Debemos encontrar juntos a ese “villano/s” que tanto molesta a nuestro cliente y abordarlo juntos. Este “villano” puede ser mala distribución del tiempo de las personas, problemas en la cultura, etc. etc.

Developing a framework is essential when approaching a new consulting engagement for several important reasons: Structure and Consistency: A framework provides a structured approach to consulting engagements, ensuring that each project follows a consistent and organized process. This consistency helps manage expectations and maintain quality. Efficiency: A well-defined framework streamlines the consulting process. It allows consultants to work more efficiently by providing a clear roadmap, established methodologies, and standardized tools. Time and Resource Management: A framework helps in effective time and resource management.

Creating a consulting framework is like mapping out a journey. Just as in our Christian faith, structure is essential. Think of it like Nehemiah planning to rebuild Jerusalem's walls – he inspected, planned, and divided the task into manageable sections. Structure ensures success and the framework acts as our blueprint, breaking complex problems into manageable parts. It's like assembling a jigsaw puzzle; the framework outlines the edges, and each piece is a problem component. Without it, we lose the big picture. A well-crafted framework guides our consulting journey with purpose and precision, much like navigational charts for a ship. The structure keeps us on course, preventing overwhelmed and aiding us in overcoming unexpected obstacles.

For a successful consulting engagement, developing a structured framework is crucial. Start by establishing clear objectives aligned with the client’s strategic goals. Break down the project into manageable phases, each with specific deliverables and timelines. Incorporate key performance indicators (KPIs) to measure progress effectively. Ensure the framework is flexible enough to adapt to new insights or changes during the project. Regularly review and adjust the framework in consultation with client stakeholders to maintain alignment and address any emerging challenges. This approach ensures a focused, adaptive, and measurable consulting process.

Creating a tailored framework is essential for addressing each unique problem that arises. While having a standard approach is beneficial, it’s not a one-size-fits-all solution. The most effective consultants are those who, after thoroughly understanding the problem at hand, develop a bespoke framework that directly aligns with the specific needs of the company, guiding them towards the desired outcome with precision and clarity. It’s about recognizing that every challenge is different and requires a nuanced, personalized strategy to truly resolve it. The ability to craft such frameworks is what sets apart successful consultants, ensuring they provide value and tangible results for the businesses they work with.

In a new consulting engagement, developing a robust, customized framework is crucial. Start by comprehensively understanding the client's specific needs, industry, and challenges. Craft a clear, step-by-step plan addressing these areas, integrating milestones for tracking progress. For example, if improving a client's digital marketing effectiveness, your framework might include initial audit and analysis phases, strategy development, implementation, and continuous optimization and reporting. This structured yet adaptable approach ensures focused, measurable, and relevant results tailored to the client’s unique objectives

Halten Sie ein Gleichgewicht zwischen dem Einsatz von Werkzeugen und dem Erfindungsreichtum und der Innovationskraft Ihrer Kunden

A framework in the early stages of a project could even look like a empty “ghost deck” with stickies and placeholders with an idea of what the slide should contain. It t gives a preliminary direction of the narrative, of what will be delivered to the client and what the team should focus on. This should be refined constantly and as work progresses should fill in with content.

I'm a strong advocate for an iterative method of data collection. As you delve deeper into the engagement, it's common for fresh queries or side tracks to surface, accompanied by the discovery of additional data sources. Embracing a fluid/iterative approach helps ensure consulting recommendations stay pertinent and adaptive, genuinely catering to the shifting requirements of the client.

Gathering and analyzing data is like equipping a ship with the right instruments for a successful voyage. It's here that we put our framework into action. Just as in the Bible, where knowledge is celebrated, data is our source of wisdom. This data is the wind in our sails, driving us forward. We carefully select information that's not only relevant but also reliable and sufficient to address the problem at hand. Then, much like skilled navigators, we employ the right tools to chart our course. This process enables us to draw meaningful insights and conclusions, allowing us to course correct along the way. Data is our North Star, guiding us towards delivering impactful solutions for our clients. Billion dollar companies are built on data!

To effectively approach a new consulting engagement, prioritizing data gathering and analysis is key. Collect comprehensive data from diverse sources relevant to the client's industry and the specific challenges identified. Utilize both quantitative and qualitative data to ensure a well-rounded understanding. Analyze this data to identify patterns, trends, and insights that inform strategic decisions. Employ advanced analytical tools and methodologies to enhance accuracy and efficiency. Ensure transparency with the client about the findings and how they influence the project's direction. This thorough analysis is crucial for developing informed, effective strategies.

Data analysis is powerful only if: 1- First you develop a few solid hypothesis (a well structured educated guess) that gives direction to data gathering so that you gather the right data 2- Identify insights: In addition to analyzing data, look for the “insights” as the result of your analysis. Is there is none, you might need to review your hypotheses, or create new ones 3- Use valuable insights to inform conclusions and potential recommendations that you should validate with your client

In my experience with the fintech consulting most interesting things uncovers with the data so in most cases is important to get hands on data as fast as you can. And another thing is to see bow the client is viewing this data internally as well. Since it is helpful to provide a new views on the same data and new insights that client might be missing all that time.

Data collection, although could seem a simple and direct task often could constitute an element of delay and frustration for the team. It can occur that the client’s financial or analytical team you are working with does not have the capacity or is professionalized at the point to deliver the output desired with the agility and precision required. Communication is key: an introductory meeting where expectation, standards and deadline are presented is paramount for success.

Although there is no need for many details and information in the initial recognition of the problem and understanding of the subject, data and their connection are very helpful for solving the problem. For example, to prepare a production plan, complete information about raw materials, source of supply, production process, storage process, number and capabilities of human resources, etc. is needed. Many times, organizations have this information, but neither in writing nor in an integrated form. Our task in advising companies is to collect this information, examine it from different angles, find the connection between them and provide a solution based on the results.

Generating and evaluating solutions is a critical step when approaching a new consulting engagement for several important reasons: Problem Resolution: The primary goal of a consulting engagement is to address and resolve a specific problem or challenge. Generating and evaluating solutions is essential for finding the most effective and practical way to achieve this goal. Innovation: This process encourages creative and innovative thinking. Consultants can explore a variety of solutions, including unconventional or out-of-the-box approaches, to find the best fit for the client's needs. Customization: Different clients and problems require unique solutions.

The main task of a consultant is to accurately analyze information and provide solutions to solve problems Having experience in providing solutions and solving problems plays a very important role, but experience alone is not enough. Creativity and innovation are as important as experience. If companies are to be advised only by using experience, the solutions will be repetitive and will not be equally responsive and effective for all problems and all organizations. While some companies think that people with experience can be good consultants, I only accept part of this thinking and give an important contribution to creativity, analysis and innovation.

In a consulting engagement, generating and evaluating solutions effectively is crucial. Start by brainstorming multiple solutions based on the data analyzed and insights gained. Encourage innovative and creative thinking to explore all potential options. Prioritize these solutions based on their feasibility, impact, and alignment with the client's goals. Use a structured decision-making framework to assess each solution against predefined criteria. Engage stakeholders in evaluating these solutions to ensure buy-in and relevance. Iteratively refine the preferred solutions, incorporating feedback and additional analysis to ensure robustness and effectiveness.

Generating and evaluating solutions is akin to crafting a masterpiece, and "Without counsel plans fail,but with many advisers they succeed." (Proverbs 15:22). This phase is much like an artisan selecting materials and carefully considering their qualities before envisioning their composition. In consulting, we compare and contrast options, ensuring they align with our client's objectives and values. This process serves as the bridge between theory and action, where our consulting framework is translated into tangible, transformative solutions. In consulting, it's the stage where the blueprint of our framework takes shape, paving the way for substantial change, fostering growth and sustainable innovation.

Effectively presenting findings and recommendations in a consulting engagement involves clear, structured communication. Start by summarizing key insights and data analysis that support your conclusions. Structure your presentation logically, leading with the most critical findings and following up with detailed recommendations. Tailor your presentation to the audience's expertise and interest levels, using visual aids like charts and graphs for clarity. Clearly articulate the benefits and potential impact of each recommendation. Encourage feedback and be prepared to discuss alternative solutions or adjustments based on stakeholder input. This approach ensures engagement and alignment with client needs.

Presenting findings and recommendations is like delivering a compelling speech. Clear and convincing communication is essential, similar to conveying God's Word effectively. As consultants, we prepare a structured presentation summarizing the journey from problem to solution, aligning with our client's values. Like biblical speakers addressing questions and concerns, we anticipate and address client inquiries. Visual aids, such as charts and diagrams, are our parables, making our message clear and impactful. Our aim is to offer not just recommendations but a message of hope and transformation. Most importantly the journey must be one that the client feels is achievable and they are excited to embark on.

Effectively presenting findings and recommendations is crucial both in new and existing consulting assignments. Begin with a clear, concise executive summary highlighting key insights and their implications. Structure your presentation logically: start with background data, followed by analysis, and lead into your recommendations. Tailor these to the client’s specific challenges and goals. Use visual aids like charts or graphs for clarity. Finally, ensure actionable steps are clear and include short-term wins along with long-term strategies. This approach conveys thorough research and understanding but also facilitates decision-making and action planning for the client.

Conducting a follow-up after resolving a client’s problem is a crucial aspect of maintaining a strong and ongoing relationship, as well as assessing the impact and effectiveness of your approach. It is not enough to simply implement a solution; understanding how that solution has played out in the real world is key to ensuring client satisfaction and driving continuous improvement. By taking the time to observe and analyze the results of your intervention, you not only demonstrate to your client that you are invested in their long-term success, but you also gain valuable insights that can inform your work with future clients.

At least 50% of the impact is in the follow-up and fitting of the solution closely to the problem - in real life. This may seem like a small step, but there is a huge difference between almost right and a perfect fit. So implementation is key. This means that this stage needs to be planned for and stakeholders and clients should be prepared that the value doesn’t immediately accrue for the start. Not planning and preparing for this is one of the biggest risks. So your work should include a post-love phase and plan, and clients should be supported closely at the point of action and implementation. This is where the good lies and also where your client will assess your value. So invest wisely!

Adopt a principle of 'underpromise and overdeliver,' with a particular emphasis on consistent follow-up. Regular updates are pivotal—clients appreciate being kept in the loop about progress and completed actions. At Flow Digital, we streamline this communication by leveraging our time tracking tool to generate weekly updates. These updates are configured once per client and then sent automatically every Monday. This system requires minimal effort post-setup but ensures maximum transparency with our clients, reinforcing trust and satisfaction with the consulting engagement.

The adventure begins... it's time to set sail on your carefully charted voyage! Just as a captain uses navigational charts, after presenting our findings and recommendations, we equip our clients with a detailed action plan. This plan outlines the steps, timelines, and the roles each crew member plays in executing the solution. As the voyage progresses, we take on the role of the captain, steering the ship and carefully monitoring progress. When rough waters are encountered, we offer guidance and support, guiding the crew through stormy seas. Similar to a ship's log, we document and share our insights and best practices, actively seeking feedback from both our clients and our team to ensure a successful journey.

There is a more important step that precedes the first. Understanding how the business, business unit, department, section, or piece of the business you are working with generates value. How does the entity do this? Who is involved in that value chain? What is the goal of the entity or group? Are those goals clear and aligned with the rest of the business or within the group itself? What is the process to create value? More often then not, answering these and questions like them will allow the derivation of the problem statement by the consultant as well as providing critical context about the organization so any solution has a greater chance of being a sustainable and targeted solution vs an ineffective solution.

Here are some considerations that will help you excel in your new role: - Cultivate curiosity: Display a desire to understand your client's organisation and their industry. Go the extra mile to gain insights and demonstrate your commitment to delivering value. - Engage with stakeholders: Seize every opportunity to connect with project stakeholders. Quickly grasping roles and responsibilities (R&Rs) within the project will enhance your efficiency and contribute to the overall success of your tasks. - Visibility and presence: Make a conscious effort to be visible among your peers. Offer your support wherever possible and look for ways to expand the scope of your role.

The most important part of any new engagement is to ensure the value delivery is happening and priotizing that the tangible value is being achieved towards client goals and outcomes. So regular assessment to measure the progress and continuous improvement cycle is key towards a successful engagement.

In a new consultancy assignment, recognizing and letting go of elements outside your domain is vital for focus and effectiveness. For instance, if you're advising a client on marketing strategies but encounter issues with their IT infrastructure, it's important to acknowledge that this is beyond your expertise. Suggest they consult a specialist in that area instead. Staying within your realm of knowledge not only ensures the quality and integrity of your work but also builds trust with the client, as it demonstrates your commitment to their best interests and to providing specialized, high-quality advice.

Crafting success in business consulting is akin to embarking on an uncharted journey. Understanding the client's challenge becomes your guiding compass. Showcase reliability through past successes and a seasoned team. Transparency in deliverables, timelines, and budgets is your North Star. Once the challenge is clear, construct a framework. A well-crafted framework acts as your navigational chart, ensuring a steady course. From gathering data to implementing solutions, it's an artful journey where success is not just delivered but meticulously crafted.

To work hand in hand with the clients but not only as extra pair of hands. The rest have been laid out generously above. All the best!

To boost client buy-in, focus on understanding their core concerns beyond the problems such as legacy issues, and the potential impact of solutions on key stakeholders' KPIs. It's not just about our ideas; it's about addressing their "red button" issues effectively.