Tag Archives: top management consulting

TNF #095: Challenge your work

Welcome Professionals…

…I am currently doing some writing. Actually, I am not referring to this short TNF blog post, but a 3-page article that will be sent to CEOs as a marketing paper. It is a work that I could do all by myself. I could probably come up with a version that is pretty good. At least one that is good enough from my point of view to be distributed. But I know that my view is biased.

To create something that is of an effective quality, I need to challenge my work with some outside-in perspective. Right after I had the first draft – essentially the outline of the article – I brought in a newspaper journalist and a marketing professional who review each iteration. They relentlessly criticize every version of the draft and make me go through it again and again. They do this in a constructive way, they also make some suggestions on improvements.

When we have a final draft, I will show it to a representative of the target audience and also get his comments. I will most likely have to re-work the thing again.

The process hurts. It is a nuisnace to iterate the same text again and again. That is exactly the point. Without the challenge group, I would not do it. I would give in too early. To meet our highest quality targets, we must challenge our work from the outside. By experts who feel comfortable to speak up and call us out.

Not giving up,

Malte

Thursday Night Flight is brought to you by Malte Müller Professionals. Sharing best practices for top management consultants on topics like communication, client handling, problem solving, appearance, and fitness. Check out www.mm-professionals.com for more material and free resources!

TNF #094: Break free

Leave a reply

Welcome Professionals…

…Last Friday I broke free. I was relieved of my cast on the right hand after 6 weeks. I already shared some learnings from this time when I could not use my right hand. Today, I want to draw some conclusions.

The handicap affected me most in: handwriting, typing, operating the mouse/trackpad, and – surprisingly – shaking hands.

I recognized how often we shake hands in Switzerland and how awkward it feels to grab someone’s right hand with my left hand. The people who were alert and spontaneous enough to put forth their own left hand earned my admiration.

My key learning experience evolved around writing. Here I have built some new habits that I will seek to maintain:

Taking less notes. I enjoy being able to make some handwritten notes in conversations, but I will be less exhaustive in the future. I will have more presence by taking wrapping up the essential minutes after the meeting.
Making use of Siri dictation. This is a great way of being more effective. Dictating a report or email on the go after a meeting can be quicker and more efficient. It can also be liberating to work outside of the office rather than sitting in front of the computer most of the time.
Using the phone more often vs. email. I recognized – once again – how much more powerful a direct conversation can be, instead of sending an email.

After all, I am very happy to be both-handed again. May the good things remain.

Hope you are all in the pink,

Malte

TNF #093: Keep focus

Leave a reply

Welcome Professionals…

…I know, many of us chose the profession of a top management consultant for the high variety of topics the job provides. There is hardly one project like the other. Many young graduates join consulting to see a variety of industries and like to work as a generalist in the beginning. I was the same when I started.

However, it is so hard getting started without any specialization. In fact, I think the only way to get a grip in business is through radical focus and specialization. Finding a topic, a niche industry, a special craft that is key to establish a standing as an expert. Then, when you have built the expertise and your personal brand, there will come opportunities to branch out and widen the focus bit by bit.

I was talking this week to a consultant who is trying to do business development across various industries. She was tackling IT, private banking, industrial goods, consumer goods and retail and medical technology – all at the same time! What’s more, she distributed her efforts across many geographies from Europe to Middle East. This is a very obvious example of wasted energy. And I am not blaming this person – she knew exactly what went wrong and decided to focus in the future.

It may be hard in the beginning to choose something and leave so many other interesting choices untapped. In a world of unlimited opportunities, we all suffer form FoMO – fear of missing out. The good thing is, it does not matter so much what we pick. Once we have mastered this area, we will get to diversify from there. To make a dent, we clearly must keep our focus.

Stay focused,

Malte

TNF #092: Persistence vs. patience

Leave a reply

Welcome Professionals…

…Building new client relationships requires a long-term effort. Trust will only grow over time. It may take years to establish a new client relationship. Many times, we will give up too early. For a winning strategy, we need to keep the right balance between persistence and patience.

Persistence is highly important. We must not loose grip if our emails or phone calls do not get answered. We continuously have to think of new ways to add value to the person that we want to build a connection with. We have to keep trying.

There is a tipping point, when persistence is turning into annoyance. When our activity reaches a certain level of intensity and frequency, the target person might feel pushed into something and this will usually put an end to the newly established connection. This is why persistence has to balanced with patience.

Hard to say which number of contact attempts is ideal. My business partner has empirically developed a rule of thumb over the last 30 years in business. According to his practical research, it takes 8 quality interactions per year to develop a new connection. This has proven to be working for hundreds of connections established. A quality interaction is defined as a two way communication that is personalized and linked to the target person’s targets and interests. Sending a simple newsletter does not count, but a personal invitation to an event with an answer received (confirmation of attendance or excuse due to other plans) will be eligible. Phone calls turn out to be the most efficient means for quality interactions.

I have tracked this rule myself and it works for me. Let me know how it works for you!

Malte

TNF #091: Do it now!

Leave a reply

Welcome Professionals…

…As my frequent readers already know, I am not able to use my right hand for writing at the moment and I use the dictation function of Siri instead. This led me to another discovery this week.

One of my least favorite work is transfering minutes into our CRM system and writing detailed reports on interviewed candidates. Whatever, it has to be done, despite all procrastination.

My usual procedure would be to take hand-written notes of interviews and collect them over time in my drawer. Then, when the delivery date of the reports comes close, I would set a time slot in my calendar for writing reports. I would pick a time early in the morning, when my personal reserve of will power is not yet fully depleted.

Now, that stacking hand-written notes is not an option, I have changed my routine to dictating notes of meetings and phone calls immediately, so that I do not forget the essential information. I have done this as well with interview reports. Transcribing the key findings of some 90 minutes of intense conversation to a summary of 2 pages by using the dictation function of Siri.

What can I say: The actual writing (dictating in that case) is done in up to 50% less time. It is done right away without any procrastination. It feels better, because my files are up to date and I do not have to look at the daunting stack of paper all the time.

My learning is: Do the nagging tasks as soon as possible to get them out of my head and out of the way.

Feeling free,

Malte

TNF #090: Tailor the message

1 Reply

Welcome Professionals…

…Here comes a reminder on an old principle that probably every consultant already knows: The message of a presentation must be tailored to the receiving audience!

Sure, you might say. This is so simple and obvious, yet it gets forgotten so many times. All too often we tend to use the material that we already have and skip the extra tailoring effort. We like the messages that sound convincing to ourselves, not necessarily pursusasive for the individuals we address. We think within the frameworks that work for us, but may be too complicated for the attention span of our listeners.

For every presentation that we prepare, we must answer the most basic questions first:

Who is our target audience of the message/presentation?
What is their status (knowledge, opinion, goals, capacities, restrictions, etc.)
Where do we want to move the audience?

Once the key message is tailored, we should review the following three questions to make our message pursuasive:

How can we create a supportive atmosphere in the beginning (a compliment, a joke, an appreciation of the audience, a consensus, etc.)
How can we address stakeholders during our presentation and show them that we understand them and that we care?
How can we finalize with a positive call for action?

Everything else is just PowerPoint,

Malte

TNF #089: Handicap II

1 Reply

Welcome Professionals…

…Another week has passed and I still cannot use my right hand. I have to wear a cast for six weeks in total. As announced last week, I will give you a report on my efforts to stay productive.

Having a broken bone is a bummer, but I promised myself I will stay positive and focus on good things to learn. Over the course of the week, I already made some significant productivity gains. I actually made some improvements that I might keep even when the cast is gone.

Here is a list of my productivity adjustments:

Left-hand writing comes out with some readable lines after practicing a bit, but it is still much too slow
Left-hand typing works for a few words, but is also much too slow for longer text
Using the Apple Siri function for a few tasks like making a call, setting a reminder, putting appointments to the calendar and so on is very useful and quick, once I understood which syntax to use
The online dictating function of Siri works much better than the off-line enhanced dictation function and improves over time the more I use it
Setting up shortcuts in the text replacement function of iPhone and MacBook is something that I should have done before
I managed to use my MacBook as the input source for the Microsoft-based computer system in my office, allowing me to dictate text right into word files and also into our CRM system, which is actually much quicker than my 10 finger writing before

There are even some positive side effects, which are quite remarkable:

The inability to take notes during conversations has me focusing much more on my counterpart in both personal meetings as well as in phone calls. It seems I have a much stronger presence in these conversations now.
Dictating a summary after a conversation enables me to focus on the real key lines that are worth memorizing. Though I have to admit that I would prefer to be able to take at least some notes during the conversation, especially on 90 minutes interviews.
Using the dictation function requires me to articulate myself very clearly and precisely and get rid of all these “ers” and “uhs” during verbal expression

I am actually quite surprised what good can come out out of a stupid situation like this. I will keep you posted about for the learnings.

Wishing you a productive week,

Malte

TNF #088: Handicap

Leave a reply

Welcome Professionals…

…Today I’m writing with handicap. Last Sunday, I broke the ring finger of my right-hand in a stupid accident. Of course, this brings some challenges to my work.

I’m a right-handed person. And now I’m not able to use my right hand at all. This is a real bummer to my productivity. When I was 16, I took a machine writing class. I’m actually very quick in blindly using 10 fingers for typing. During interviews on the phone I used to take notes simultaneously within our CRM system. All of this doesn’t work anymore.

I am now looking for better ways instead of doing everything left-handed. I am actively experimenting with various new tools and adjusted processes to overcome my handicap.

I am really curious to know: What are your experiences with this? Have you ever been in a situation where you couldn’t use one of your hands? What did you do to stay productive?

BTW: This text is written by using the dictating function on my MacBook. I will let you know about my improvements over the course of the next weeks.

Waving with my left hand,

Malte

TNF #087: I love complicated clients

Leave a reply

Welcome Professionals…

…Without complexity, there would be no need for top management consultants. This is why I stated “Complexity is your friend, my friend” in TNF #003. Sometimes, when it feels like we are drowning in complexity, it is helpful to relate back to that statement.

I would like to even go one step further. “I love complicated clients!” From an outside-in perspective, some clients seem to be complicated. They have lots of politics going on in their organizations, project tasks and timeline are issue to a lot of changes, they have side-problems that need to be resolved, they have a peculiar way of communication and so on. I think we all had clients like this.

Of course, I prefer when things are running smoothly, just as planned. When everything is just easy-going. But this might be a short-sighted view. If everything is easy, my service is at risk of being replaced by a competitor that is offering a lower price. Without complexity and challenge my added value is at risk of being commoditized.

All these clients out there who move time lines, change assignments on the go, complain a lot, are lost in details, have to succeed in political fights, or are just having a bad day – they need our help. This is where we can make a difference through our professional service and our positive mindset. Those who an deal with complicated clients have a USP.

At least thinking this way helps when someone complicated comes up….

Malte

TNF #086: Building a platform

1 Reply

Welcome Professionals…

…As top management consultants, we continuously strive to attract clients to our services and to build a strong reputation as an expert. Both can be enhanced by establishing your own platform.

A platform is a format to connect with your target audience and to share value. Typical formats are a regular lunch/dinner table, a blog/podcast/YouTube channel, an E-Mail newsletter, a conference/networking event, a service club. Note: a simple LinkedIn profile is not a platform!

The goal of a platform is to build relationships with a long-term focus. Value is shared generously to the target audience usually for free or for minor a subscription fee, but it is never transaction-based. You cannot pay directly for the value received. The value contribution of the platform builder needs to be different to the professional services that are provided for a fee. It needs to go beyond the typical scope of the business in order to stand out and attract the target audience. Then, a platform can be very powerful to reach and attract new potential clients.

In summary, here are the main success factors for building a platform:

Target a specific audience
Share relevant value generously
Stay persistent and establish a regular format
Foster multi-lateral relationships within the platform
Focus on building relationships, never transactions

A successful example for a platform was built by one of my friends, who is Partner at a leading strategy consultancy. He set up an expert circle for industrial service businesses about 8 years ago. Twice a year he organized a key note speech and discussion round for leaders of the service business. He has now reached a stage where the participants themselves suggest new members and funnel them into the circle. Members take a strong part in organizing events and even sponsoring the catering. Still, my friend is seen as the founder and chief curator of the platform and stands out as the expert for industrial service businesses which has finally led to many new assignments in that area.

Thursday Night Flight and the LinkedIn Group “Trusted Advisor – Success for Consultants” is a platform that was founded on the same building blocks, as you may have already noticed. We are well above 1’000 professional consultants now and for the future, I would like to see more interaction among members. So, feel free to connect and reach out.

What is your platform?

Malte