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#330: A Taste of Your Own Medicine

Posted By Mark Haas CMC FIMC, Friday, June 18, 2010
Updated: Friday, June 18, 2010
I wish I had more time to work "on" my business instead of just "in" my business. I spend my days selling or delivering services and I am afraid that if I looked closely at my own practice, I wouldn't like what I saw. Any suggestions?

You are right to be concerned. Your clients want to have confidence that you are running your own business well before they entrust theirs to you. Would you take wardrobe advice from someone with ill-fitting clothes and beat up shoes?

Take Some of Your Own Medicine. You provide consulting services in a range of areas. How about taking on your own business as a client. Do some due diligence on you as an individual, your market, your clients, your reputation. What would you recommend in terms of strategy, operations, and culture? What do others in your field think (or say) about your services? Are you a rising or falling stock?

Finally, if you were going to report back to your new "client," what would those findings and recommendations be? Is it good news or not?

Tip: There is an extra benefit of this exercise. You get a close in look at how well your service delivery works. If you look at your "report" of findings, is it complete? Are there aspects of your own business that are not covered? How likely are your recommendations to work? How do these recommendations align with your existing marketing and service plans? Are the reports expressed in a way to make them conducive to implementation?

© 2010 Institute of Management Consultants USA

Tags:  learning  practice management  your consulting practice 

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Philip Fulton says...
Posted Sunday, June 20, 2010
Another alternative is to consider is establishing either a board of advisors for your business or join a peer group of non-competitive consulting leaders. Personally I prefer a peer group that will help you work on your business, hold you accountable, and be a tremendous resource to help you make better decisions, achieve better results, and become a better leader for your firm. A peer group provides the opportunity to gain the collective wisdom of other non-competing consultants and learn from the experiences (both good and bad) of the other peer group members.
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