Identifying the Average Consultant

Okay, so this is actually really cool. I recently conducted an anonymous survey across several online entrepreneur communities and was able to record quality responses from 23 consultants in varying industries – all of whom are currently entrepreneurs.

I figured that I’d share the results with you guys since they provide some interesting insight on entrepreneurs in the consulting industry.

1. What is your highest level of education?

The majority of those surveyed had completed their bachelors degree, while there was 1 MBA candidate, which I found interesting.

 

2. Which industry do you primarily serve?

Since I was addressing entrepreneur communities, it made sense that the most common industries served were startups and small businesses. But I also found it interesting that entrepreneurs were getting into independent consulting for corporate / fortune companies. Go entrepreneurs!

 

3. How many years have you been consulting?

As for myself, I fall under the 4 – 6 years category, but it’s great to know that the industry is so balanced. The wave of new consultants will help strengthen this industry and provide better service across the board.

 

4. Do you hold any professional certifications?

I found this the most interesting. While I currently hold professional certifications in the ‘Other’ category, the number of consultants who don’t possess any certification is thought provoking. Are these individuals trustworthy? Do you have faith in them to help your startup?

I find that this is what makes the barrier to entry so complicated. The consulting industry is full of people who are willing to extend their knowledge, but not many of them can back it up or verify their abilities through reliable means. Surely those with Six Sigma, CPAs, CMCs, and so forth have it easier, but for those just starting out or others (like myself) it becomes a real name-game and who you know.

If you have any questions about this survey, please feel free to contact me. You can view the live response page here: http://goo.gl/xKMDbE.

 

Wishing you the best.

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Becoming an Idea Machine

James Altucher is a man I admire, for both his story and his work. I recently came across his philosophy on becoming an idea machine, and using entrepreneurship to give your life purpose. Being philosophical myself, I found his methodology very interesting and thought you’d enjoy a synopsis (and of course my own words).

James writes:

I was out of ideas when I googled “how to kill myself “.

A rather startling beginning, James shows us just how serious his situation was. He was sure that three things would happen if he kept up with life: he would go broke, no one would ever kiss him again, and he would die because (and here’s what I loved) self worth = net worth.

What a powerful realization that was for me. As entrepreneurs, we get caught up in the fantasty of fame, fortune, yachts, islands, etc… and factor that into our net worth – our wealth. But it turns out, we may have been looking at this from the wrong angle. Once we strip away what I like to call our “gross worth” (this being money, power, and fame) what are we truly left with? Our self. Our own self worth. So in theory, James is absolutely right, our net worth is in fact our self worth!

Now how did James dig himself out of such a grave situation?

I started coming up with 10 ideas a day and I’ve written about this several times before: it saved my life, my career, my friendships, made me better friendships, partners, opportunities, a wife, better relationships with my kids, and lots of kisses!

Ten ideas a day?? That’s insane! Even though I’m always thinking of new, innovative ideas, I rarely get to ten solid and sensible ideas. James encourages us to exercise our “idea muscle” and preaches that if we don’t exercise our idea muscle, it will atrophy and we would lose the ability to be creative.

And so James encouraged people to write down 10 ideas every day, no matter what. He goes on to say that the first three are always the easiest, then the next two are harder, and the last five become nearly impossible. But he says to write down any idea, no matter how silly. For instance.

They should improve squeezable mayonnaise containers by adding 35% more mayonnaise for the same price.

That wasn’t so hard now, was it? Good luck with the next 9.

 

If you want to check out James Altucher’s article or even the rest of his blog, you can navigate to this link: http://www.jamesaltucher.com/2015/01/faq-on-how-to-become-an-idea-machine/.

 

Have a great day brainstorming!

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Leading as an Entrepreneur

When we boil things down to the nitty-gritty ingredients of a successful entrepreneur, we find that this individual is a leader. We have simply accepted this as a characteristic of entrepreneurs,  not thinking to look deeper.

Entrepreneurs exercise their leadership through persuasion. It’s all about inspiration and persuasion. An entrepreneur does not typically have the ability to pay top-dollar in order to obtain quality talent, which is where the entrepreneur’s ability to innovate, inspire, and persuade comes into play.

An entrepreneur does not immediately forsake the quality talent he so desperately needs for cheaper, average talent. He does not find talent which will work for free, but rather an entrepreneur will find the talent that will work for pay, and coerce them to work for free. He persuades them to work on behalf of his cause through his inspiring demeanor.

Through this, the entrepreneur receives better quality, and better success.

 

Food for thought as I wish you the best.

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