Stakeholder, Stakeholder, Stakeholder
A lesson I learned the hard way, lack of stakeholdering is one of the most common reasons behind non-acceptance of a deliverable by the client. Whether it be a document, a decision, or analysis that you have painstakingly put together, it is absolutely imperative that you keep the client informed and involved in the deliverable creation process. Not doing so runs the risk of losing client buy-in and may jeopardize the project schedule or, in some cases, damage your credibility.
Assuming you are working to a project plan, as you should, identify milestones in the deliverable creation process. These milestones may represent key events that constitute successful completion of the deliverable e.g. creation of the document template, completion of key analysis, option elimination and recommendation, etc. Next,...
Know Your Client
Coincidentally the first consulting tip, and quite possibly the most important.
You may argue that you know your client, but here’s a quick and easy litmus test: ask your consulting colleagues the following questions:
- What is the client stock symbol?
- What was yesterday’s closing price of the client stock?
- What is the client company’s market capitalization?
- How much revenue did the company generate last year? What was the profitability margin?
- What is the client CEO’s name?
Ideally, you are able to answer all these questions. My own non-scientific observation has shown that 75% of the consultants surveyed did not know the answers to these very basic questions about their client organization.
Interestingly, I have found that even members of the client organization are not aware of basic financial information. With a little research and attention to basics, it is easy for the consultant...
Consulting Glossary: De-mystifying "Consultant Speak"
Consultants are notorious for using acronyms and terminology that often confuse those around them. Whether it is meant to impress the client or indeed a way to communicate more effectively, to the uninitiated, making sense of consultant speak can be overwhelming.
This article aims to help the non-consultant decipher some of the terms often used by consultants…or have the unintended effect of arming existing consultants with even more jargon. Comments and suggestions for new terms are welcome.
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30,000 Foot View: summarize or put a basic idea into context- 360 Degree Client View: an all-around, consistent view of the customer and the customer’s relationship with the organization (products held,...