Show Notes

Sarrah Rose is an executive intimacy coach who runs the firm CEO on Fire. CEO on Fire helps senior level executives optimize their lives. Sarrag works with clients to help them achieve personal growth and spiritual development. She has been working in this field for the past 10 years, and rebranded to CEO on Fire to focus on executives specifically. 

Sarrah works with primarily male senior executives to help them balance their personal and professional lives. She looks at their relationships, sex lives, and other aspects of being human to give them more fun in life. Some of the challenges of working with senior executives include having less time for family, travel, and the specific personality type needed to become a CEO. ADHD is common among executives and can be both a superpower and a challenge. The benefits include hyper focus, the ability to see the bigger picture and from different perspectives, there’s also a lot of sexual energy. Sarrah introduces her clients to tantra which helps them use and channel this sexual energy productively. She has noticed that many clients are self-made and grew up in a more impoverished situation. This change in their lives often leads to a disconnect with who they were and who they are now, and how they are perceived. Rose helps her clients overcome these difficulties and create a balance between their personal and professional lives to better enjoy their lives.

Relationship Challenges of Senior Executives 

Sarrah talks about the challenges that high-powered male executives face in their roles as fathers and in their relationships with their significant other. Sarrah explained that presence and empathy is one of the biggest areas that executives need to focus on to provide for their children. They need to be able to give their children their undivided attention and love, safety, and belonging. Sarrah explains that the process she takes her clients through helps them develop these skills. 

Will asks Sarrah how executives manage to shift roles from boss at work to partner at home.  Sarrah explains that it depends on the relationship. She talks about the initial attraction to the partner is a combination of nature and nurture, and that the attraction is often tied to wounding. To navigate this, Sarrah helps her clients understand the layers of attraction, create more intimacy, and be aware of the different seasons of relationships and how to intelligently navigate the changes and the tough times.

Sarrah believes that one of the challenges that these executives often face is understanding the difference between men and women, and how to seduce their partners and maintain a state of heightened arousal. To help her clients, Sarrah suggests flirting through text throughout the day and engaging in roleplay and fantasy before you enter the bedroom. She also emphasizes the importance of leaving business talk out of their relationship and engaging in more light-hearted and fun conversations. Sarrah also mentions the importance of maintaining friends outside of one's work life. Some have stayed connected to people from their past and have maintained those long lasting relationships, while others have not. 

Strategies Used in Executive Intimacy Coaching 

When she starts working with a client, Sarrah starts off with an introductory call with her clients and then follows up with a diagnostic session. During this session, Sarrah gets to understand what her client is looking for and engages on a personal level. When it comes to exercises and tips, Sarrah explains that communication is the most important and also the most difficult area for her clients to master, especially when it comes to discussing intimate sexual and emotional conversations. She offers a few questions to help explore and connect on a deeper level. Sarrah notes that the first and most important area to focus on with clients is their relationship with themselves, including patterns of self-sabotage, trauma, and triggers. Throughout the program, Sarrah explains that they use four main strategies that begin dealing with the nervous system, including breath, sound, movement, and focus, which can be combined in different ways. By using these strategies, clients can release stress cycles and better understand their own needs and desires. Additionally, Sarrah helps clients focus on what one desires to create in life and then looking at where there are fears, resistances, and self-limiting beliefs that need to be worked through in order to move forward. By understanding oneself and engaging in self-reflection, it is possible to build a strong relationship with oneself and achieve one's goals.

Sarrah adds that sleep is a common issue among senior executives, who often struggle to fall asleep due to the demands of their job and the inability to turn off their minds; she suggests specific questions and practices to help address this issue. 

CEO Case Study and Dating in Today’s World

Sarrah talks about how high-powered CEOs approach dating in today's world. She shares a success story from one of her clients who was in an abusive relationship and how she helped him heal and prepare for his next relationship. Sarrah recommends that high-profile CEOs use matchmakers and that she works with the matchmakers to help her clients find the right person to have a fulfilling relationship. Sarrah also shares that she personally uses dating apps and that she sees many high-profile CEOs on the apps.

Sarrah explains that she works with the top 1% of men, helping them to become more confident and successful with women. She also shares that she makes organic introductions for her clients if they seem to be a good fit. Sarrah emphasizes that men need to be willing to do the work necessary to make successful relationships with women.

Timestamps

01:32 The Challenges of Senior Executives' Personal Lives

09:48 Seduction Tips for CEOs 

11:26 Maintaining Friendships Outside of Work 

12:57 Intimacy and Sexual Energy Exercises 

14:31 Relationship and Sexuality Coaching 

22:29 Exploring Intuitive Movement and Sounding for Self-Exploration and Transformation 

22:53 Sleep and Habits for CEOs 

26:38 Sleep Challenges for Senior Executives 

27:32 Executive Intimacy Coaching 

29:59 Success Story: High-Powered CEO Overcomes Insecurities After Divorce and Prepares for Next Relationship 

Links:

https://ceoonfire.com/

https://www.instagram.com/sarrahrosenyc/

CONTACT INFO:

https://www.linkedin.com/in/ceoonfire/

Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes

Author Jimmy Soni kicks off the conversation by explaining why the PayPal mafia is more noteworthy than other large startups. Soni explains that he wrote the book to document not only the business successes, but also the personal stories of the founders. He explains that the market has been good and that people can learn a lot of new things from the book. Soni reveals that his favorite thing about the book is learning about the inventiveness and innovation PayPal had.

The Birth and Growth of the PayPal Mafia

Jimmy  and Will discuss the phenomenon of the PayPal Mafia, the group of entrepreneurs who emerged from PayPal's success and went on to found some of the most successful companies in Silicon Valley. Soni explains that the PayPal Mafia is a unique phenomenon because the founders were relatively young when PayPal was successful, they had faith that businesses on the internet could be successful,  and they supported each other's ventures. PayPal alumni invested in and supported each other's companies, and they hired alumni as their first employees. This mutual support and collaboration was key to the success of the PayPal Mafia, and their success has been a major factor in the success of Silicon Valley.

He shares how PayPal was able to succeed in the early 2000s due to their right timing and how important that was, the selection of very talented people, and the nurturing of their employees. They were able to take advantage of the increasing ubiquity of email addresses and the platform of eBay, which hadn't yet sorted out its payment infrastructure. They also managed to survive the .com burst and make a successful IPO. This was due to their selection of very smart and entrepreneurial people, and their experiences of putting a company together from scratch and having it be a success. He mentions how the book The PayPal Wars by Eric M. Jackson shows how messy real companies can be and how PayPal started out as two companies, Con Finiti and X.com, that merged and began toying around with the idea of beaming money from one palm pilot to another.

Building a Startup

Jimmy  reflects on his experience of studying the formation of PayPal and how it taught him about Silicon Valley strategy and the messiness of how companies actually grow. He emphasizes that building a company from scratch is much harder than most people think and that things that seem inevitable can often look ridiculous at the start. He demonstrates this by using the example of the Palm Pilot that was labeled one of the 10 worst business ideas of the 1990s but that company became PayPal. He emphasizes that researching the book has made him more aware of the difficulty of creating something and has taught him to not to dismiss ideas that seem silly or take for granted the companies that occupy our lives.

The creation of PayPal was a “dogfight” that required a lot of hard work and effort. The biggest challenges in making it successful were to convince people to use the payment system and make sure that people were not taking advantage of it.  Jimmy talks about the uncertainty and anxiety that comes with being involved in a startup and the do or die moments that can arise and that there are often one or two decisions that are crucial to survival. He noted that CEOs usually only make six important decisions per year, so it's important to go into a startup with eyes wide open and know that these moments will arise and that the company could go under at any point. He also talked about how chaos can be beneficial for a startup, as it can bring about new ideas, but also can just be chaos. His insight from the story of PayPal is that a lot of what appeared to be chaos from the outside was actually a controlled chaos that was directed towards the right problems and issues. 

The Elon Musk’s Pressure Cooker Leadership Style

Will and Jimmy discuss Elon Musk's recent acquisition of Twitter and his ability to lead a tech company. Jimmy explains that he and Musk never spoke about social networks, and that they only discussed payment networks. He noticed that Musk's management style and that Musk used the term ‘maniacal urgency’ to describe it, and believes that Musk's intense approach is necessary for the success of a startup. Jimmy goes on to explain that this style of management has been consistent from Musk's first venture, Zip Two, to his current companies Tesla and SpaceX.

Elon Musk's leadership style is one of prioritizing urgency and setting unreasonable demands for his employees. This was the case in his experience with PayPal, and is now being seen at Twitter. An engineer from X.Com shared that during this period, Elon worked longer hours than anyone else and that it was an energizing environment for engineers who wanted to build something quickly, get rapid feedback, and keep moving towards a big goal. This style is not for everyone and can be difficult to understand, but it has been successful for Musk in the past. Through his research, it became clear to Jimmy that startups need to be maniacally urgent and dedicated in order to succeed. 

He discusses the market for books about companies, including his own book The Founders: The Story of PayPal and the Entrepreneurs Who Shaped Silicon Valley

The book has done well, both domestically and abroad, and Jimmy  believes that people are drawn to the book because of the famous and controversial players involved. Feedback received from professionals  in the startup world have told him that the book captures the energy and feeling of what it is like to be in a startup. Soni shares that the market for books about companies is big and that the Silicon Valley halo has not diminished abroad; all of these factors have contributed to the popularity of the book. His book has international appeal and what differentiates his book from others in the same genre is the inclusion of personal stories. 

Researching the Book 

He talks about the importance of invention and how startups are allowed to look at a problem and create something new to solve it. He shares how many inventions were developed by PayPal. 

When it came to gathering information, he struck gold when he was interviewing someone who offered him access to the company's early records. The person sent Jimmy several gigabytes worth of emails from the time. Jimmy was able to access emails sent and received by key players in the company, giving him a better understanding of the story he was researching. To capture the widest possible story, he started with any emails sent to the company and printed them all out. He then read through every page, looking for any interesting gems that could be included in the book. He found a motivating note from Elon Musk outlining the company's struggles and signed off with Work like hell, Elon. This note was unexpected and captured the character of Musk that is still seen today. 

When writing his book, Jimmy explained that he took a methodical approach to email research, using folders, binders, and highlighting to identify key points. He used Google Drive to store PDFs of her citations for fact-checking. This email archive was instrumental in making the book more accurate, rather than relying on hazy memories. 

Jimmy talks about the secret sauce of recruiting talent. He specifically mentions Peter Thiel's superpower. Jimmy believes that it is talent identification. Thiel has an uncanny ability to identify people who have potential and to offer them help in the form of introductions, investments or by sketching out a vision of their career that is bigger than they thought possible.  Jimmy shares what he learned about his time working at McKinsey and how that helped him as a writer, and what he is working on now, which is a co-writing project on tech history. 

Timestamps

07:41 "The Evolution of PayPal: A Story of Near-Failure and Success" 

09:57 Exploring Contingency in the Story of PayPal's Success 

13:33 Managing Uncertainty in a Startup Environment 

14:15 Analysis of Elon Musk's Management Style at Twitter 

18:42 Recruiting Strategies at X.com and Confinity 

24:34 The Market for Books About Companies 

27:59 On PayPal's Inventiveness and Innovation + Exploring the Origin Story of PayPal's CAPTCHA Technology 

38:10 Analysis of Peter Thiel's Superpower: Talent Identification 

41:23 Peter Thiel's Approach to Hiring and Recruiting 

44:42 Writing Books, Consulting, and Professional Development 

Links:

The Everything Store, Brad Stone

The Founders: The Story of PayPal and the Entrepreneurs Who Shaped Silicon Valley, 

A Mind at Play, Jimmy Soni

https://jimmysoni.com/

CONTACT INFO:

LinkedIn https://www.linkedin.com/in/jimmysoni/

Twitter @jimmyasoni

https://jimmysoni.com/

Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes:

David Newman is a Certified Speaking Professional (CSP), marketing expert, speaker, and founder of Do It! Marketing. In this episode, Will Bachman and David discuss his new book, Do It Selling. The book is organized with 77 instant action ideas that can be used to land better clients, bigger deals, and higher fees. The book is  divided into micro chapters which focus on topics such as understanding the sales process, creating an ideal customer profile, building relationships with potential clients, using content to create credibility, and closing more sales. Additionally, the book includes many stories, case studies, and advice from David's own experiences. The goal of the book is to help independent consultants learn how to market and sell their services effectively. 

David talks about the fact that many consultants and professional services firm principals love the work but not the sales aspect. David explains that one needs to upgrade their sales brain to be successful in sales. The idea is to replace the words ‘selling’ and ‘sales’ with invitations to conversations and reframe the idea of selling to connecting. 

Lead Generation and Client Communication Ninja Tricks

He encourages people to change how they view sales to  be less  focused on chasing and persuading, and more focused on the qualifying, sorting, and filtering business rather than chasing and persuading. He encourages a shift from taking an inferior vendor stance trying to persuade the client of your value to that of a casting director for whom the clients are auditioning. He moves on to the idea of targeting the clients you want and launching intentional and specific relationships to open doors rather than “taking what comes.” This puts the seller back in control of their lead generation and prospecting, and allows them to be more proactive and hold better conversations. The crux of this approach is to lead the client to want what you do.

David talks about the current approach to cold calling and prospecting when generating leads, and how the approach should be more about serving before selling and helping before pitching.  He suggests making an “active 20” list and gives tips on how to reach out to and warm up those contacts and avoid your proposal landing in a black hole. David offers tips on how to connect with clients through being where they play, write where they read, and be where they attend. He talks about checking into trigger events in the industry you are targeting such as upsizing, downsizing, mergers and acquisitions etc. This entails doing thorough research on the client and understanding the clients’ situation to ensure your communication relates to their current situation. 

How to Reach Out to Cool Contacts

Will and David discuss tactics for reaching out to cool contacts. David suggests apologizing for the lack of communication and to follow with a direct and authentic request to catch up on where they are and where they are going – but not to sell. He also offers a few  ninja tricks on how to encourage a follow up conversation. The goal should always be to build a rapport with the customer or client, and to show that your company cares about their needs by demonstrating thoughtfulness, relevance, and value. David offers examples of each to clarify these three points and how this approach works for reaching out to past, present, and future clients to ensure you are perceived as a trusted advisor. 

Revenue Acceleration and Business Growth

David divides his clients into three buckets: Zero to Hero (consultants who have just left a corporate role), Hero to Superhero (those who have gained experience in their industry and are looking to take their consulting to the next level) and Superhero to Intergalactic (those who have a lot of experience and are looking to take their consulting to a much higher level). 

For those in the zero to hero stage, he helps them with lead generation, prospecting, sales, and sales processes. Those in the hero to superhero stage are looking to double or triple their current business and need to make changes to do so. Finally, those in the superhero to intergalactic stage are looking to scale their business to reach the million dollar mark. David focuses on helping them with scaling strategies, such as hiring a team, licensing, and digital programs, to help them become the CEO of their business. David discusses how consultants can reach the 500k plus plus level, by building infrastructure and focusing on revenue multipliers. 

He explains that businesses need to make money even when the consultant takes time off or goes on holiday, and emphasizes the importance of setting up systems that can make this happen.

Recommended CRM System 

Will Bachman and David Newman discuss the advantages of using a CRM system over just a spreadsheet for tracking conversations and action items. David recommends One Page CRM, as it has powerful features on the back end and is simple to use on the front end. He also recommends grabbing free resources from his website, doitmarketing.com, such as the companion tools to his book, the 500k Consulting Gameplan session, and the Do It Marketing Manifesto. David’s company offers a few different ways to work with clients, either through one-on-one discussions, mentoring programs, or group sessions and includes daily coaching, live events, online communities, sales labs and sales gyms. He is open to chatting with people who contact him at his email, [email protected].

Timestamps

03:44 Professional Services Firm Growth and Sales Mindset 

08:48 Tips for Generating Initial Conversations in Sales Prospecting 

16:33 Reaching Out to Cool Contacts

20:34 Catching Up with Past Clients: Revitalizing Old Projects and Teams 

23:07 Follow-Up Strategies for Unresponsive Prospects 

29:03 "Strategies for Direct Prospecting: An Email Example" 

36:04 Revenue Acceleration Strategies for Consultants and Executives 

38:13 Revenue Multipliers and Technology Recommendations 

39:25 CRM Systems and Consulting Services 

45:24 Content to Solve, Not Content to Learn 

Links:

www.doitselling.com - to get the book bonuses

www.doitsellingbook.com - to buy the book 

www.doitmarketing.com/manifesto - free 37-page guide

www.doitmarketing.com/webinar - free on-demand training for consultants

The Selling Show Podcast

CONTACT INFO:

[email protected]

Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes

Greg Fincke is a Managing Director at Equiteq, a global sector focused investment bank that works with entrepreneurs in the IT services and management consulting sectors to create exit strategies. They have offices in London, Singapore, New York with smaller outposts around the globe. They typically advise on companies with 3-25 million EBIT range, and revenue up to $200 million. The firm has 70 members around the world and did 20 transactions last year with an aggregate value of a billion. An expert in M&A deals, Greg discusses how the big deals are typically handled.

What it Takes to Build a Sellable Consulting Firm

The conversation focuses on the question of what it takes to build a sellable consulting firm. Greg suggests that one of the key factors to consider is key person risk; if a potential buyer is looking at a buy versus build situation and the equation starts becoming too expensive for the buy, it may be difficult to close the transaction. To build value and reduce the risk, it is important to have multiple people who can drive the business forward. Other factors to consider include developing a strong brand, having a good network of clients, a diversified client base,  and a good mix of services or products. Additionally, it is important to have a good relationship with other consultants, vendors, and potential buyers. Finally, it is also important to focus on long-term goals and invest in the growth of the firm.

Greg explains that when looking at the financials of the firm gross margin is an important factor. Buyers typically want to see firms with a gross margin of 40% and discounted when under 40%. When thinking about valuation, you're looking at how the business looks financially and what they do.  Greg talks about gross margins for consulting firms when the owner is selling the business. He explains what the two types of gross margins are and how to calculate partner cost, and typical multiples are for a consulting firm. 

Scaling a Consulting Firm

This conversation focuses on the difficulties of scaling a consulting firm. On one side, there is the need to acquire new clients and promote the services of the firm, and on the other, there is the need to create, onboard and teach new consultants. Achieving a balance between these two elements is crucial, as buyers are looking for firms that can deliver services that scale, on both supply and demand, and are willing to pay a premium for it.  Greg talks about buyers’ preferences, suggesting that they would rather work with firms that have good web traffic and reputation and are able to generate inbound leads, rather than those that need to grow the sales side and bring in clients. He explains why they consider IP an important factor of consulting services.  He talks about talent recruitment and retention, and the value of a firm that offers a strong career plan and training and coaching systems as this demonstrates the ability and control to scale with in-house talent instead of relying on recruiters to find talent which can be unreliable and expensive. 

Beyond Corporate and Private Equity

According to Greg, the best options in firm valuation in management quality are how well companies are run, retention, sales and profit growth, and who your clients are and how you engage with them. Fortune 500 and private equity are the two most valuable in the market, and vertical specialization. From a delivery model, being able to deliver fixed fees on good margins is most desirable. 

Smaller consulting companies are seen as less valuable because their financial spend is significantly lower.  These companies tend to engage in one-off consulting projects and do not have a consistent spend on consulting, making them less desirable to broker deals. Greg states that the buyers for deals have changed over the last five years and shares a few examples of company M&A his company has facilitated. 

What Partners Can Expect when they Sell the Firm

Greg shares what partners can expect in terms of a percentage and timeline. The numbers vary widely depending on the buyer. He explains what can happen to the team after a sale, and how it often inspires an entrepreneurial spirit. He mentions that often buyers are looking for a new service line and that the synergy between companies should accommodate this growth and value, in this scenario the team stays independent, in other cases, there may also be an integration of teams. 

Greg reflects on how clients move forward after selling a firm; often they take a role in the management team of the larger company, and some have retired from business  to sail around the world, or just retire, but he hasn’t encountered any who regret the sale or decide to start a new business.

He talks about the advice he gives companies when the founders are not quite ready to sell such as having a goal for the sale, this entails examining what the bottlenecks for growth are, whether that is client or talent acquisition. Greg helps them focus on the goal and target market growth. This may include building talent to open doors, and investing in marketing.  He talks about the buyer universe for smaller firms, how this differs from the larger M&A buyers, and who takes care of the billion dollar deals. 

Greg shares how his company secures clients, his team’s laser focus on a specific industry, and the type of advice they give clients. 

Timestamps

02:42 Exploring the Value of a Consulting Firm: Key Person Risk and Building Value

10:43 Scaling a Consulting Firm

13:16 Growing Sales Through IP and Recruiting Processes

17:01 Management Quality, Retention, Sales and Profit Growth, and Client Engagement

22:19 Private Equity and Strategic Acquisitions in the Consulting Space

23:53 Selling a Firm: Earnout Periods and Expectations

37:35 Recent Private Equity Acquisitions in the Management Consulting Industry

39:42 Billion Dollar Deals in the M&A Space

40:32 Exploring the Range of Options in the Consulting Industry

43:37 Building Value in the Consulting Industry

47:09 Resources for Learning About the Consulting World

Links:

Greg Alexander The Boutique

E2E.com

Consultancy.uk

Collective 54 Podcast

The World’s Newest Profession – Chris McKenna

The Lords of Strategy – Walter Kiechel

CONTACT INFO:

https://www.equiteq.com/

Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Ulrich Riedel and Will Bachman discuss Ulrich's unique cold lead generation process via LinkedIn. Ulrich advises to respect the leads and to be careful to select only candidates who would benefit from this process and to be careful not to spam. He shares why he chose to find leads this way and explains why  there is more upside than downside to his process. He explains that the process involves several aspects such as researching the prospects, creating a message, and following up. He also suggests focusing on building relationships and emphasizing the value of the offer. Finally, he stresses the importance of tracking results and being persistent.

Using LinkedIn Sales Navigator to Contact Leads

Ulrich offers three pieces of advice on how to use LinkedIn Sales Navigator to reach out to potential leads. He stresses the importance of your investment in time and money investments to ensure the leads are super targeted, as sourcing too many leads that do not fit the needs of the company will be a waste of the time and money invested. He emphasizes that real expertise and external help are needed to set up the process. 

Hiring an Expert in Lead Generation

Ulrich discusses how he hired an expert to help him with his lead generation process. The expert used a Sales Navigator, which is a powerful search tool, to look for leads and contacts, and then organize them in groups and tag them to make sure none were duplicated. Ulrich created the messaging, but they were responsible for sending out initial connection requests and any follow-up messages. Once a prospect accepted and engaged, the expert would set up a call in the prospect's calendar and then hand the contact over to Ulrich to handle. Ultimately, the expert helped Ulrich to find, organize, and contact the leads, which saved him time. He talks about his direct and concise communication technique that helps him build a connection with suitable prospects. 

Reaching the Right People through LinkedIn Sales Navigator

Ulrich helps reduce implementation risk and increase project value for large complex projects and strategies. He has been doing this since 2004 and has found that his initial connection requests were not reaching the right people. He now targets Senior Vice Presidents and above in companies with $3 billion or more in Germany, Switzerland, and Austria. His current connection requests are clear and direct, stating his goal to reduce risk and increase project value followed by an offer to explain how he would achieve this for the person he is reaching out to. Once he has secured a lead, Ulrich transfers the client from LinkedIn Navigator to his own CRM system to keep track of communications, campaigns, and status etc. He explains how and when he makes first contact, how he follows up with them, often using GetEmail and RocketReach to find emails of his clients, and how he schedules meetings. 

Most importantly, Ulrich focuses on authentic and respectful communication. He stresses the importance of patience and persistence, and that following up with clients on a regular basis to remind them of the benefits they will receive from Ulrich’s expertise pays off. He finds that out of 100 connection requests sent, usually 20 will connect. He sends the 20 a longer message and roughly five will reply. Out of five, he will secure one client. Ulrich shares when and how he follows up with the other potential clients. He checks his CRM system daily and explains why he uses Outlook Contact instead of Hubspot.

Timestamps:

04:15 Exploring Strategies for Effective LinkedIn Outreach 

05:05 The Benefits of Utilizing Expertise for Lead Generation

08:38 Maximizing Project Value Through Risk Reduction

10:51 Exploring the Benefits of a Custom CRM System for Lead Tracking 

12:41 Lead Management and Prospecting Strategies 

18:56 Building Professional Connections on LinkedIn 

24:56 Networking Strategies for Building Trust and Connections 

28:37 Utilizing Sales Navigator and CRM Systems for Lead Generation 

30:13 Leveraging CRM Systems for Business Growth 

Links:

https://www.drulrichriedelconsulting.ch/

CONTACT INFO:

https://www.linkedin.com/in/DrUlrichRiedel/

Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes

Ulrich Riedel and Will Bachman discuss Ulrich's unique pricing model for independent consultants. Rather than being paid upfront or daily rates, Ulrich gets paid a percentage of the value he creates for the client at the end of the project. To make this type of pricing model possible, Ulrich needs to make sure certain conditions are met, such as creating value for the client, measuring the value,  and convincing the client of the value. He also needs to make sure that the client will be willing or able to share in the risk associated with the project. Ulrich has learned how to do this through experience, and was willing to share his knowledge with Will and the viewers of Unleashed.

What to Consider with an At-risk Pricing Model

Ulrich Riedel explains that there are four main themes to consider when using an at-risk pricing model. First, the offer needs to have unique value to the client. Second, the individual must be willing to accept risk. Third, the client must be open to the at-risk pricing model. Fourth, the approach to project generation must be tailored to the at-risk pricing model. He suggests that the network may not be enough for project generation because many close relations may not be able to accept at-risk pricing. A solution to finding suitable clients, may be to develop cold  lead generation through LinkedIn might be helpful. He also suggests partnering with people who have contacts to potential clients and projects, and what he found most helpful is to establish oneself as an expert to increase trust. 

Pricing the Project

Ulrich specializes in large, complex projects that are worth more than $100 million that involve many functions, hierarchies, global reach, different countries and cultures, change management with hesitancies  and conflicting priorities, and the list goes on. He analyzes the entirety of the project, helps implement it, and generates an added value of 8-15%.

Ulrich discusses a project they are working on with a client to shape the future. His role is to provide insight and advice on the strategy and execution of the project. He recently worked with a small company with a few $100 million turnover to help them optimize three main projects.  He is also responsible for talking to many people in different hierarchies to collect data and figure out where value is hidden and how to create an intervention and implementation plan which could generate much more value. 

Prospect Generation

Ulrich studies the mentality of the client and the company and  talks to people in all hierarchies to gather in depth information from all levels, including employees at the water cooler or the factory floor during the night shift. Once he has an implementation plan in place, he sits down with the client to discuss two main variables: volume and cost. Ulrich also talks about how he determines his fees, and the search time for finding projects, and how long projects typically take. 

Timestamps:

• 03:54 Exploring At-Risk Pricing Models: Strategies for Generating Projects and Establishing Trust 
• 06:05 Exploring Value-Based Pricing for Large Complex Projects
•  06:25 Consulting on Building a New Business Model with a Hybrid Technology 
• 11:46  Value Creation and Compensation for Consultancy Services 
• 14:39 Exploring the Long Sales Cycle and Prospect Generation 

Links:

https://www.drulrichriedelconsulting.ch/

CONTACT INFO:

https://www.linkedin.com/in/DrUlrichRiedel/

Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes

Tony Martignetti and Will Bachman discuss the importance of maintaining energy and excitement as a solopreneur or independent professional. 

They talk about taking an assessment of the tools and different parts that you have been working on for your business. It is important to check in with yourself and ask what it is that you really want and what you are driving towards. It is necessary to determine which tools and activities are providing you with energy and which are draining you of energy. 

They also discuss how to tap into inspiration and creativity. Martignetti recommends getting out of your current environment to experience awe, which can't be done while sitting behind a desk. Tony shares a few activities where he found inspiration, including climbing Mt. Kilimanjaro. 

Priorities and Values in Leadership

Tony talks about the concept of grounded leadership and how to achieve it in the context of executive coaching. Bachman asks for the first step to take to become more grounded. Martignetti responds that it is important to first be thoughtful, clear on one's priorities and values, and that all decisions should be based on these. From there, one can focus on creating calm within the chaos and help others to do the same. This could involve creating a plan to keep oneself grounded, such as setting reminders to pause and check in with oneself, or reflecting on values and purpose. Ultimately, it is important to remember that everything should be done with these priorities and values in mind. 

Tony talks about the importance of understanding the foundation of one's values, mission, and purpose in order to make decisions. Will and Tony discuss the STOP method, an acronym for Stop, Take a Breath, which is a classic mindfulness practice that can help in moments of stress and when one is triggered. Taking the pause allows them to slow down and not react. This method encourages people to take a moment to reflect on their values and ask themselves questions about why they are doing something.

Dealing with Difficult Situations

Will and Tony discuss maintaining mindfulness using the Stop, Observe, and Proceed method of dealing with difficult situations, which involves taking a moment to understand what emotions are coming up, and why. Will mentions the importance of not sending emails when annoyed and suggests making a phone call instead. Will talks about his executive coach’s question, “What are you currently avoiding?”. The conversation ultimately emphasized the importance of taking time to understand and process emotions before taking action.

Questions Used in Coaching

Tony talks about the questions he uses in his coaching practice. Tony's first question is, “when you look at the week ahead, what do you look forward to the most?” He then moved on to the question of “what is one conversation that you are putting off that you really need to have.” This helps to identify any areas of avoidance and to move forward with life and work. He suggests taking note of what you are tolerating. Will  asks Tony what sorts of responses he gets from his clients to the question of avoided conversations. Tony responds that he typically gets a variety of answers, ranging from fear of failure to fear of rejection to lack of clarity on how to approach the conversation.

Tony tells Will where he found inspiration for his book, Climbing the Right Mountain, and how to think differently about success, and how to determine the right mountain for you. He talks about his coaching practice and workshops, and how many of his clients feel stuck or want to grow in a new direction. 

Timestamps

03:03- Assessing Business Activities to Maximize Energy and Productivity

04:43- Evolving and Inspiring Yourself as an Entrepreneur

07:30- Reflection and Inspiration for Business Growth

10:12- Experiencing Awe and Climbing Kilimanjaro

13:41- Exploring Human Experience: Tips for Training for Kilimanjaro and Experiencing New Things

15:08- Expanding Consciousness and Grounded Leadership

16:52- Grounded Leadership

18:30- System Two Thinking and Executive Coaching

20:53- The Benefits of Establishing a Foundation for Decision-Making

24:17- Incorporating Questions into Coaching Practice

Links:

Climbing the Right Mountain

https://www.inspiredpurposecoach.com/

CONTACT INFO:

https://www.linkedin.com/in/tonymartignett1/

Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes:

Nick Shevelyoff is a cybersecurity expert who recently left his role as Chief Information Security Officer at Silicon Valley Bank to pursue consulting services.

In the mid-1990s, Nick Shevelyov began his career in technology. He soon became interested in cybersecurity and went on to work for a boutique security consulting firm. Shevelyoff later spent years working in Enterprise Risk Services at Deloitte, specializing in cybersecurity and data privacy. In 2005, he joined Silicon Valley Bank as the chief security and chief privacy officer. During his 15-year tenure at the bank, Shevelyoff became CIO and then chief information security officer. Throughout his career, he has been interested in understanding cyber risk from a holistic perspective. 

The Book on Cyber War and Peace

Nick discusses his new book, Cyber War and Peace, which explores how organizations can learn from lessons from history and behavioral science to improve their cybersecurity posture.

In his book, Nick covers a wide range of topics related to cybersecurity, from the history of technology to the importance of risk management. He highlights how ancient civilizations such as Babylon and Rome dealt with technological challenges and draws parallels to modern cybersecurity concerns. He also emphasizes the importance of knowing oneself in order to effectively defend against cyber attacks.

Nick enjoys reading about ancient Greece, Rome, and the Napoleonic Wars, among other periods. He draws upon lessons from these periods in his book, specifically around the importance of practice and preparation. 

To get a sense of a company's current level of preparedness, Nick recommends asking questions about the company's existing investment, business outcomes, and risks. He also suggests using a framework like the National Institute of Standards and Technology critical security framework to measure the organization against that framework and understand where the gaps are.

Executive Planning for Investments and Technology

The need for business executives to properly plan ahead when considering investments and technology cannot be overemphasized, and Nick  suggests that it is important to understand the existing conditions, the age of the company, the outcomes they are looking for, the risks they may face, and the value of the data they have. He recommends a Z-shaped relationship to connect the goals to the risks, and to understand the unique risks facing the organization. Nick also suggests that it is important to consider the volume, variability, and veracity of the data, and the layers of control that can be used to manage the uncertainty.

Bespoke Security Models for Organizations

Nick and Will discussed the process of creating a bespoke security model for an organization. Nick suggested using a commonly accepted framework, such as the National Institute of Standards and Technology Critical Security Framework, to measure the organization against and identify gaps. Additionally, Nick suggested considering the Mitre Attack Framework to assess how an organization is susceptible to different types of attacks and the OWASP Top 20 to identify any potential application vulnerabilities. To further understand the current security state, Nick suggested conducting vulnerability scans, penetration testing, and application security assessments.

He also talks about leveraging tactical conformance checks to assess an organization's cyber health. Nick provided insight into the criminal business world of hackers today, which is an industry run by criminals who attack organizations, steal data, and sell it on the dark web. This hacking as a service has become operationalized and victims of ransomware attacks, where malware is deployed on networks and locks up their systems, are all too common. 

He discussed the ongoing cyber war, where foreign governments are encouraging and supporting hacking of US and Western companies. He also mentioned that cyber risk is a reflection of geopolitical risk, and that organizations should always be investing in the right risk posture. Nick is now offering consulting services to help innovators and entrepreneurs all over the world improve their probability of success. He is also working as a fractional Chief Information Security Officer.

Timestamps

09:58- Exploring Risk Management Strategies for Business Executives

12:16- Exploring a Bespoke Security Model for Organizations

14:00- CYBER HEALTH: Leveraging Tactical Conformance Checks to Assess Organizational Risk in the Criminal Business World

17:06- Cybersecurity and Cyber Risk

22:22- Fractional CFO and CISO Services

27:13- Developing a Security Program for Organizations

30:17- DevSecOps and Risk Management

Links:

https://www.nickshevelyov.com/

https://www.amazon.ca/Nicholas-Shevelyov/e/B09BDGQD22%3Fref=dbs_a_mng_rwt_scns_share

https://authorhour.co/cyber-war-and-peace-nick-shevelyov/

CONTACT INFO:

[email protected]

https://www.linkedin.com/in/nicholasshevelyov/

Unleashed is produced by Umbrex, which has a mission of connecting independent management consultants with one another, creating opportunities for members to meet, build relationships, and share lessons learned. Learn more at www.umbrex.com.

Show Notes

In this episode, Will Bachman explains how independent consultants can set up and use a paid CRM system. 

While a spreadsheet is a great place to start when setting up a CRM system as it is free, and can help you understand which features of a paid system you would like to have, Will explains why, at one point,  you might want to upgrade to a paid CRM system, and how CRM systems offer advantages over spreadsheets when tracking contacts, opportunities, and projects.

Advantages of a CRM System over a Spreadsheet

One advantage is that you can add documents to the categories mentioned in the previous episode: contacts, company and/or opportunity. Other features can include the ability to add notes from discussions to  keep track of customer interactions, automated reminders, and tracking customer feedback.  The CRM system provides the ability to attach documents, such as resumes for potential subcontractors, and add notes from conversations. It also allows for a photo of the contact to be attached, as well as other fields like name, title, employer, education, location, and LinkedIn profiles. Custom fields can also be created to track newsletters, gifts sent and received, and who introduced you to the contact. 

Will explains how CRM systems sync with the user's emails and the contacts' emails, making it easier to track emails from multiple addresses. 

Using a CRM System for Opportunities

The CRM system also allows the user to track and easily see all the project opportunities associated with your contacts. Additionally, the user can tag contacts, opportunities, and projects with an  industry tag, or functional tags, or skill-based or discreet defined tags, making it easier to categorize and track these elements.

Using a CRM system to Manage Tasks

Using a CRM system has several advantages. One of these is the ability to easily manage tasks. This can be done by adding task tags to contacts or projects and then viewing them all in one place, whether that is to follow up with a contact or submit a proposal, and you can easily mark them as done or change dates etc. 

Another advantage is the ability to easily manage opportunities. It is possible to have a visual view, with columns for the status of each project, and have the ability to drag and move the tiles. A third advantage is the ability to customize the names for the stages of an opportunity. These stages include identified opportunity, completed context discussion, submitted proposal, and finally whether the project was ‘lost’  or if it is ‘1 Active’, or ‘1 Completed’. Additionally, when a project is moved from one stage to another, a pop up will appear asking for the reason. You could also add other stages such as ‘On Hold’ to remind you to follow up at a later date, and you could add a ‘Future Opportunity’ tab to remind you to follow up about it. You can also add documents to opportunities to keep all that information in one place and easy to access. Another useful feature is to add reports to give insight into projects won and lost. You can also easily add other users to give easy access to team members, but you also maintain control over the system to ensure no-one accidentally deletes or changes information. 

Researching CRM Systems

Will also explains how to set up a paid CRM system, such as choosing a provider, setting up user roles, and integrating the system into your workflow. Lastly, he talks about the importance of finding the right CRM system that suits your needs. Will recommends starting with a spreadsheet to get an idea of how you need to structure the information you need, and then look into resources on Umbrex.com where you will find information on CRM systems used by members.  

Timestamps

00:01 The benefits of using a purpose-built CRM system

02:38 The benefits of a CRM system for tracking contacts

03:49 Creating custom fields

04:57 The benefits of a CRM system for tracking opportunities and projects 

07:36 Stages of opportunities in a CRM system

11:18 Adding users to the CRM system

Links:

Notes on using a purpose-built CRM system: https://docs.google.com/document/d/1SfVS9cB_YtmTgtRoBb1hWAxo-qy1vbC6BqiOKtTpEFo/edit?usp=sharing

Show Notes

In this episode of Unleashed, Will Bachman explains how independent professionals can use a spreadsheet as their CRM system. A spreadsheet can be an effective first step before investing in a paid CRM system, and for independent professionals, the most fundamental use of a CRM spreadsheet is to keep track of the people, organizations, and project opportunities, in addition to confirming new projects, but the first step in setting up a CRM system should be to create a spreadsheet of all your contacts, and another tab with all your past projects. 

Ultimately, using a spreadsheet as a CRM system can be a great way to get started and gain familiarity with the features of a paid CRM system before investing, but when you do, you’ll be able to upload your spreadsheet into the CRM.

Will walks you  through setting up a CRM system. The initial tabs discussed are 1.contacts, 2.opportunities, and 3.companies.

Using a Spreadsheet for Contacts

When setting up the contacts tab, a few fields are recommended, including:

info about the person, like employer and title, name, pronouns, ID number

URLs/links/social media links

Physical address

It's also recommended to have separate columns for first name, middle name, last name, maiden name, and nickname. It is also recommended to  include the option to track if the contact is a connection on LinkedIn or not.

When it comes to tracking contacts, emails are essential, and often, the preferred method of communication. It may also be helpful to track physical address, how the contact was originally met, the strength of the relationship, the level of decision making power, whether they are a client or potential partner, the industry they are in, the date of the last contact, the time interval between points of contact, if they are subscribed to your newsletter, if they are on your holiday card list, what gifts have been sent, topics of interest, the name of their executive assistant and their contact info, and the next action to be taken with the contact. Additionally, it is helpful to also track notes from interactions with the contact. Will suggests creating a separate tab for notes on each conversation, and to filter it for any given individual. However, the drawback of using a spreadsheet is that it is not as great as a relational database. 

Using a Spreadsheet for Opportunities 

For opportunities, the fields suggested to track are:

Current pipeline

Project/opportunity ID, title, associated company/organization

Client executive name, billing contact, and any other names related to the opportunity

A description and stage of the opportunity

Source of opportunity

Will learned this system from David A. Fields and he talked about it  in episode 172  of Unleashed. David’s three stages are: identified opportunity, but not yet talked to the client; completed context discussion (which entails live interaction with client), and finally,  submitted proposal. If you have several projects in the pipeline, you could also add several stages such as: ‘in contract phase’. Will  suggests adding two stages for a contract:  ‘1 active’ - for current projects, and ‘1 complete’, for the final stage. It may also be useful to add a stage for ‘lost’ and/or ‘on hold’ and ‘possible opportunity’ for potential opportunities on the horizon that you may want to follow up on in a few months. You could also track the dollar size of the opportunity and likelihood of closing. By tracking ‘likelihood to close’ you’ll gain a better understanding of your ability to your accuracy in estimating potential opportunities, and dates of each stage. And most importantly, columns to include are your next action(s) and action due date(s).

Using a Spreadsheet to Keep Track of Organizations

Company ID, website, LinkedIn, industry

All the projects you have done for the same company

Who else works at the same company

Be able to see all the projects you have done for the same company

Who else you might speak with at the company

Will also suggests adding if you have a service agreement with the company, termination dates, payment terms, and any other key contractual terms, such as a non-compete agreement, and invoicing instructions. While the former company details may not be necessary if you have the details of the company contact  in place, the latter is particularly useful if it's been a few years since you worked on a project for the company.

A link to a downloadable spreadsheet template has been added in links to to help you customize your own spreadsheet.

Timestamps

00:01 Using a spreadsheet as a CRM system for independent professionals 

01:49 Tracking contact Information for professional relationships 

09:27 Tracking conversations and opportunities 

16:21: Tracking contact and contract information on organizations 

Links:

Notes on using a spreadsheet as a CRM: https://docs.google.com/document/d/1PQssMvenlu4EPVaLevbRNWGlgppIWc8IXFatU4RG5sY/edit?usp=sharing