I feel like I shortchanged you guys yesterday by only posting the Einstein quotation, and very late in the evening at that. Sorry about that. The days just seem to get away from me and I find myself blogging late when I'm too tired to compose. I'll try to work on that.
Today is the three year anniversary of my consulting practice, Principled Innovation LLC. I don't write about my company too much on the blog because I want this conversation space to be free of the whole biz dev thing. But the last three years have been incredible fun and a truly powerful learning experience for me. So, for right now, I'd like to share six things I (think) I know now about being "out on your own" that I didn't know then. I'm sure I will add to this list in the months ahead.
1. Strategy matters, even when you're alone--Lots of people talk about the importance of execution and, of course, being able to make strategy happen is essential. But the content of that strategy also matters a great deal, and making the right strategic choices is hard, even when you only have to sell them to yourselves. Case in point: after my first year, I basically stopped doing work in the learning area because I found it challenging to sell, even though it was that work that I had envisioned as the basis of my offer. I changed my strategic focus by narrowing my work to just a few areas that I felt were really core and that challenged my thinking. It was a very hard decision because learning is a kind of intellectual home for me but, over these last two years, it has proven to be a good call.
2. I love technology--Well, maybe not everyday! ;>) Seriously though, technology has become a powerful force in my thinking about what I do today and what I'll be able to do tomorrow. I am constantly rethinking the whole approach I take to my work because I can see the possibilities of various technologies and look forward ways to leverage them. (Blogs, for example.) If you aren't open, social and interactive, you're dead. We need to stop using technology to manage primarily transactions and documents, and instead use it to build and strengthen relationships and collaborations. This isn't a particularly new insight, and yet I have discovered that more than a few associations are still struggling with the idea.
3. Value (and its creation) SHOULD BE less and less a function of time and more and more a function of passion--Like most consultants, I have billed the vast majority of my clients based on the amount of time I worked on something for them, mostly measured in increments of hours and days. This is a terrible way to assess real value because time is linear and the actual work we do is decidedly non-linear. Instead, we should look for a way to assess the level of passion that both the consultant and the association bring to the work and determine an investment level accordingly. All other things being equal, it is really passion that separates "the best and brightest" from the pack. Under this scenario, then, high passion projects might be paid slightly LESS than low passion projects because of the intrinsic benefits of engaging in the high passion work. I know that this is a somewhat heretical notion, but I think it might actually make more sense.
4. Business travel sucks, but noise cancelling headphones rock. I think that covers it...
5. Consultants must steadfastly avoid telling their clients ONLY what they (the clients) want to hear--The old joke about the consultant stealing your watch to tell you the time and then charging you for it still makes the rounds. That is not the kind of persistent stereotype we need. I have found that to be successful, you must be prepared to tell your client (many) things that he or she doesn't want to hear. The client must be challenged to confront what Jim Collins calls "the brutal facts" of the situations he/she faces. If that is not a part of what we do, why do they need us?
6. I love it and I'll keep on doing it for as long as I can--I love what I am doing. I am excited about my work, I enjoy my clients and I love making meaningful contributions to a variety of organizations. I am so glad that I followed the advice of friends, family and confidantes who suggested that I start my own company. Thank you one and all, you know who you are!
On a closing note, people responded well to my Einstein quotation from last night so here is another one for you:
"We have to do the best we can. This is our sacred human responsibility."
Amen to that. See you tomorrow for our next post!
Hi, Jeff.
Congratulations on three years of shaking things up! When we worked together "way back when" I always admired (and appreciated) how you put out the message of opening your mind and striving to be better -- even though not everyone was open to it.
Sharing your insights on the development of your business the last few years is extremely helpful to those of us out here trying to do new things. These are good items for me to read and digest as I move forward with my own consulting work.
And, thanks for the "gift of blog" and your efforts to get associations blogging. If associations are about people and connecting them, then they belong in the blogosphere.
Best wishes for continued success,
Cecilia
Posted by: Cecilia Sepp | February 02, 2005 at 02:50 PM