Entrepreneur Consultant Top 8 Secrets From The International Business Guru

To become an entrepreneur consultant you need to understand the entrepreneurial characteristics required to commence your own business consultancy. It is also worth understanding the top 8 secrets from the international business guru before starting consulting, as business gurus advise these top 8 secrets are essential entrepreneur management & entrepreneur consulting strategies to avoid. Every small business guru knows these are mistakes.

Historically the following business model formula and entrepreneurial characteristics are followed by most new consultants when starting consulting and a high percentage of long term consultants seeking a position in entrepreneur management.

Entrepreneur Consultant Top 8 Secrets From The International Business Guru Step 1: Graduate from training programme.

Entrepreneur Consultant Top 8 Secrets From The International Business Guru Step 2: Purchase business leads, usually a minimum order of 10 leads at a rate beginning at £65 rising up to £125 per lead. Taking the lowest price figure this equals £650.00 at your cost.

Entrepreneur Consultant Top 8 Secrets From The International Business Guru Step 3: Split these leads down into one per day over a 10 day period.

Entrepreneur Consultant Top 8 Secrets From The International Business Guru Step 4: Conduct 2 hours research and preparation about each client’s visit at your cost.

Entrepreneur Consultant Top 8 Secrets From The International Business Guru Step 5: Travel to each client’s business, usually within a 50 mile radius at your cost.

Entrepreneur Consultant Top 8 Secrets From The International Business Guru Step 6: Spend 2 to 4 hours identifying your prospective client’s business needs and advising etc, at your cost.

Entrepreneur Consultant Top 8 Secrets From The International Business Guru Step 7: Drive home & spend another 2 hours writing up your notes at your cost.

Entrepreneur Consultant Top 8 Secrets From The International Business Guru Step 8: Repeat this procedure 9 more times at your own cost.

1. Total time invested 10 days. Fees received NONE. You have provided this service FREE of charge.

2. Total work income lost 10 days at £500 per day, (which is a very low daily rate,) You have lost £5,000.

3. Total price of your leads = £650.00.

4. Fuel & expenses = approx’ £350.00

5. Total cost to you = £6,000.

6. Average conversion rate of FREE service clients into fee paying clients is approximately 1%.

If this isn’t a sorry enough window into how to run a bad consultancy business, buckle up because it gets worse.

If your bill out rate is £500 per day then you have to work another 10 days for your one out of 10 converted client before you recoup your initial investment.

If I was to play the Devil’s Advocate for a moment and I was one of your 10 FREE prospective entrepreneur management then the two questions I would be asking you as your business consultancy and business growth consultant is.

1. “why would I ever dream of paying for your entrepreneur consulting business advice when your own personal business model is so seriously flawed?”

2. “Are you going to suggest that I follow your lead and give away 10 days of my time FREE to my customers in the hope of converting 1 out of 10 into fee paying customers.” Most business gurus would agree this is not the best suggestion when starting consulting. Even a small business guru would suggest it’s not the best entrepreneurial characteristics to offer a client.

Now I’m fully aware that as consultants we have to fail periodically in order to maintain a state of awareness of opportunities for improvement and continuous professional development but to say this business model is outrageous would be the understatement of the decade.

In my experience of talking to hundreds of business consultants and listening to even more business owner directors, one thing shines through in glorious transparency with this flawed business model and it’s this; ‘very, very few business owners attach any perceived value to a business consultant who offer his or her consultancy services FREE of charge.’ This means that you are further pre-programmed for failure when turning up trying to close a consultancy business deal with the business owner.

Now as in all things there are exceptions to this rule and I personally know of some serious heavyweight consultants who close about 20% to 30% of these consultations but these top closers are in the absolute minority.

I never take any consulting contract at a reduced fee and would never dream of contemplating taking a contract as a loss leader in order to get my foot in the door of a business. This flies in the face of what we are aiming to achieve because the clichéd ‘foot in the door’ never has an escape route, and trust me if you conduct business this way you are going to need an escape route sooner than you think.

As business growth specialists the reason for establishing business relationships which result in high buyer commitment is to establish a high fee structure.

The secret to agreeing high fees are to base your fees on the client’s perceived value of your professional assistance. If you turn up for FREE then the client has no perceived value of you or the skills and services you offer.

Are you CRAZY? Next time you need a plumber or a mechanic, ask them if they’ll spend 2 to 3 hours of preparation for your service FREE of charge. Of course the mere suggestion of them being asked to provide their services FREE of charge is ludicrous. However this is what business consultancy training schools advocate to new consultancy graduates.

The old saying of, “if you keep doing what you are doing, you’ll keep getting what you’re getting” rings true. If this is the premise on which you plan to grow your consultancy business then you are by definition pre-programmed for failure.

The percentage rate for success is minimal and the small percentage of clients you might eventually hook will end up paying for all your prior FREE consultation services.

If we analyse the bigger picture and work on the basis of a working year consisting of 220 working days after deducting weekends, bank holidays and conventional holiday periods.

Most business consultants indicate they prefer to be booked out at work for 70% of the time, leaving the remaining 30% for marketing, promotional and networking event duties to help grow their business. This leaves 154 actual working days in which to generate your entire annual salary.

If your charge out rate is £500 every day (which I suggest is the absolute bare minimum, then your maximum annual earning potential is £77,000 and that’s if you maintain a full 70% workload.

It’s obvious that charging business consultancy fees on a Per Diem basis this is another flawed business model. Factor in providing 10 days FREE of charge and the costs of buying your business leads and this reduces your annual income by £6,000 for every further 10 days of FREE consultancy you deliver.

It may appear obvious now it’s written down, however a wise business man once told me that none of us ever took ‘obvious 1, or obvious 2′ at school or college. I know of several business consultants who frequently purchase blocks of 10 business leads at a time.

The very best piece of advice I can offer you when starting consulting is that if you charge a business consultancy Per Diem rate, then you are placing emphasis on the activity you intend supplying, and not the results you intend to achieve.

In respect to entrepreneur consulting you are pre-programming yourself for failure, and this is one of the entrepreneurial characteristics which increase the likelihood of entrepreneur management failure with their own business.

Most business gurus including a small business guru that at the end of your client’s fiscal year, the measure of your success will not be considered on the number of days you’ve worked, you will be measured on the results you have achieved for your client’s business.

Over the years I have always approached business consultancy from a perspective of helping my clients to become wealthy, irrespective of what type of relationship or system I adopt. I call this entrepreneur consulting and my entrepreneurial characteristics form the foundation of my entrepreneur management systems.

My secondary aim is to establish an enduring relationship with my client. Given I am very selective about who I choose to work with, and that some of my business consultancy clients still utilise my services after 15 years, I guess my philosophy has been successful. Taken from The Art Of Business War Book by the International Business Guru.

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Succeed In Business International Business Guru 10 Tips For Business Success

To succeed in business you need an edge and the international business guru 10 tips for business success provides that edge. I’ve listed tips from business gurus like a sales guru, a management guru & even from a business guru guru, all designed to produce new business success.

Sadly business success eludes most business owners & entrepreneurs, for business success it helps if you receive support & mentoring from an international business guru.

Given that most business economists and statisticians agree that up to 95% of all new UK start up businesses will fail within the first 5 years it should come as no surprise to learn that to succeed in business especially for new business success you need an edge. Something that most business gurus consider a valuable asset for business success.

Consider other business success that have a much higher survival rate that the 95% of failed businesses. For example I recommend you study other new business success to identify their business edge.

For example, franchised businesses have a much higher success rate than conventional start up businesses. This is because most franchise operations have in-house business gurus, they also generally employ a management guru and sales guru to ensure you succeed in business.

If your business is global then you should be consulting with an international business guru to learn the 10 tips for achieving business success. For business success, especially new business success it is also worth contacting some of the business gurus associated with business incubation units as these also have an edge generally provided by a management guru and sales guru.

As a business growth specialist I am often asked what is the guaranteed magic formula to business success. The short answer is, there is no such formula. The only guarantee is, there are no guarantees.

If there were, every business would be successful, and the owner of the business success model would feature high up in the world’s top 100 richest individuals.

That said, there are however proven business success formulas for certain industry sector businesses. To view one such formula visit the businessconsultancyonestopshop page on business success.

A number of business gurus suggest another option is to open up a new conceptual business after carefully identifying certain ingredients which can increase the chance of business success while minimising the possibility of failure.

The following is what I call my international business guru 10 tips for business success. I implement these 10 tips whenever I visit a new or prospective business client who is looking to open up a new business or an established business looking to diversify into new revenue generating income streams from associated businesses.

These 10 tips are my own interpretation of what works and produces the very best chance of exponential business growth in a relatively short time frame while keeping an eye firmly on long term sustainability.

My 10 tips for business success feature my, must have Ingredients – the elements that any business should have to make it viable and workable. Succeed In Business International Business Guru 10 Tips For Business Success 1: Huge Demand

For any business to be successful, it must have a product that someone wants and needs. Succeed In Business International Business Guru 10 Tips For Business Success 2: A Proven Leader

It is essential for any company wishing to succeed to employ a dynamic visionary business leader. Someone who understands the dynamics of team work. Someone who is content to remain out of the limelight and focus on enabling other directors to increase their business performance.

Succeed In Business International Business Guru 10 Tips For Business Success 3: Low Maintenance

Who needs to spend all day on the phone servicing some product?

Succeed In Business International Business Guru 10 Tips For Business Success 4: No Stock

Do you really want to fill up your garage, or bedroom with a ton of products that no one will buy?

Succeed In Business International Business Guru 10 Tips For Business Success 5: Low Number Of Employees

Avoid the cost, the hiring headaches, the training. Keep the ratio pertinent to turnover.

Succeed In Business International Business Guru 10 Tips For Business Success 6: residual income

Do the work once and get paid over and over again. Your customers will remain with you month after month. Design a system where they’ll pay you each month, usually by Direct Debit or Standing Order.

Succeed In Business International Business Guru 10 Tips For Business Success 7: Respectability

Design a ‘win-win’ business that you can be proud of. Make sure your customers make more money. You both win with a profitable business which generates business respect.

Succeed In Business International Business Guru 10 Tips For Business Success 8: Low-Cost

Fail to plan – plan to fail. Map out your roadmap to long term success while keeping a firm grasp on your monthly overheads.

Succeed In Business International Business Guru 10 Tips For Business Success 9: Low Financial Risk

Minimise the risk by employing a specialist who clearly understands how to navigate and manage risk.

Succeed In Business International Business Guru 10 Tips For Business Success 10: Rapid Payback

Recoup your business investment in as quick a period as possible.

-The truth is, in many SME businesses it’s hard to incorporate a single one of these ‘Commandments For Business Success’. If you’re lucky you might get a few of them.

* Credit it is owed to an unknown author for some of the ingredients above. They were sent to me via an anonymous e-mail. If you are the copyright owner then contact me with proof and I’ll ensure I list your credit in future publications.

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3 Most Important Facts About Careers In International Business

Getting into a career in International Business is neither a very easy task nor an uphill battle. With the proper education and a positive attitude, anyone can get into a successful career in International business. Extensive traveling, willingness to meet new people of different cultures, knowledge about foreign languages and good socializing skills are very much essential for a career in International Business. There are three important factors to be considered for getting into a successful career in International business.

The International business Degree

Along with qualities like willingness to travel to different countries and meet & socialize with different people there is one basic necessity which is indispensable when seeking career opportunities in International business. This basic necessity is an International Business Degree. Without an International business degree, it is rare to even get into entry level careers in International business.

A degree in International business is the basic qualification for careers in International business. International business is a very competitive field and hence the success in the career depends on the quality of education that you get. It is very important to choose the best college to get training in International Business.

The undergraduate degree programs such as Bachelor of arts in International relations are the programs that will prepare students to meet the challenges that will arise in the International Business world. The candidates of Bachelor of arts in International relations will be taught with the essentials skills like ability to understand and critically analyze current trends in the international system.

Opportunity to visit Different Countries

Once you attain an International Business degree, you can seek career opportunities in International companies and organizations. If you have a passion for traveling to different countries, you will really love this career. The careers in International business will get you the opportunity to visit different countries and meet people of different cultures and traditions. The career in international business will be very much interesting as you will be able to share your ideas with people around the Globe.

The Need for Communication skills

The success of your career in International business greatly depends upon your communication skills. You should be well aware of foreign cultures so that you can communicate with clients and suppliers worldwide effectively. The needed communication skills for careers in International business can be learned from the International Relations degree programs. This Bachelor Degree program will teach you communication skills and will also help you learn foreign languages of your interest.

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