🎙️Show Notes for Episode 126 - How To Define A Consulting Advisory Retainer
Aug 09, 2023Tune in to this episode to learn how to define and sell a consulting advisory retainer so you have recurring revenue and long-term clients.
The episode focuses on:
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Understanding what a retainer is
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A three-part framework to design a consulting retainer
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Examples and exercises to get you started with your consulting advisory retainer
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How to pull the three-part framework together and add the retainer to your service offerings
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The supporting resources that will help you get started with adding consulting retainers to your consulting business
Key points in this episode:
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[03:50] Melisa’s update
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[07:15] Episode agenda
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[07:55] Companion resources
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[14:00] 3 part framework to design a consulting advisory retainer
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[15:30] Part 1: determine a business problem a retainer would solve
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[16:50] Examples of finding client problems
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[16:53] CEO is reorganizing without an HR executive
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[18:00] Private equity-backed company with a newly appointed CEO needs thought partnership
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[18:55] CTO needs an external sounding board to strategize new deals
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[19:45] SVP is promoted and needs advice on managing multi-level employees
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[22:00] Helpful exercise
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[25:30] Part 2: identify the impact of a retainer for clients
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[26:00] Quantifiable examples
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[26:30] Deals go through faster
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[26:50] Hits executive board targets on time
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[27:30] Avoid costly business mistakes
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[28:15] Avoid costly personal mistakes
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[28:50] Exploring “what if” scenarios
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[31:00] Part 3: outline your own business requirements
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[31:50] What type of support do you want to provide?
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[32:30] How would a retainer client earn a spot on your roster?
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[34:30] Pull 3 parts together to implement retainer offering
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[34:55] Value propositions
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[35:00] Qualification criteria
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[35:18] Specific features of retainer
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[35:35] Pricing
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[36:30] How to contact Melisa
MENTIONED IN THIS EPISODE —
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I invite you to book a Strategy Consultation call with me. On this call, we'll dive into your business, get clear on your goals and challenges and determine an action plan for you so that you can create the business impact, income, and flexibility that you desire. To book yours, click here.
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Start your journey to offering retainers and Take the Independent Consultant's Retainer Readiness Assessment
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For more information about consulting retainers listen to Episode 111: The Roadmap to Advisory Retainers for Independent Consultants
FOR MORE RESOURCES SPECIFIC TO THE INDEPENDENT CONSULTANT —
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Discuss working with me as your coach - Click here to schedule your consultation
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Watch my YouTube Podcast Channel
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