Newsletter No. 184
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FreePint
"Helping 72,000 people use the Web for their work"
http://www.freepint.com/
ISSN 1460-7239 16th June 2005 No.184
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Fully formatted full-colour edition available at:
<http://www.freepint.com/issues/160605.htm>
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IN THIS ISSUE
-------------
EDITORIAL
By William Hann
MY FAVOURITE TIPPLES
By Jan Verbogen
FREEPINT BAR
In Association with Factiva
a Dow Jones & Reuters Company
JINFO :: JOBS IN INFORMATION
Information Officer
Research Executive
Head of Information (Legal)
Researcher
Centre and Portal Administrator
Information Services Manager
Corporate Finance Researcher
TIPS ARTICLE
"Two Views of the SLA Conference, Toronto, June 2005"
By Mary Hudson and Joanna Kaczmarczyk
BOOKSHELF
"Online Competitive Intelligence:
Increase your profits using cyber intelligence"
By Helen Burwell
Reviewed by Arthur Weiss
FEATURE ARTICLE
"Setting Up as an Independent Consultant"
By Jela Webb
EVENTS, GOLD AND FORTHCOMING ARTICLES
CONTACT INFORMATION
ONLINE VERSION WITH ACTIVATED HYPERLINKS
<http://www.freepint.com/issues/160605.htm>
FULLY FORMATTED VERSION
<http://www.freepint.com/issues/160605.pdf>
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*** ABOUT FREEPINT ***
FreePint is an online network of information searchers. Members
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EDITORIAL
By William Hann
It was just at this time, nine years ago, that I was working on my
plan to become a freelance 'information consultant'. I felt I had the
right background, with a degree in 'information science' and having
worked for a few 'information vendors'.
The minor detail of how to make money seemed less pressing than
thinking of a trading name, creating stationery, learning about
the legislation, setting up computer equipment, etc.
Of course, how to make money is the million-dollar question
(literally), and I was very grateful then, as I still am, to the
support I received from independent information professionals
who had already made the leap.
It is, of course, your network of contacts that will make the
difference when working for yourself. Isolating yourself from
face-to-face events and hiding your light under a bushel are
guaranteed to make it harder for you to earn a living and build
your business.
Last week's SLA conference in Toronto, Canada, was a great opportunity
for information professionals to meet and build that network. In
today's FreePint there are two reviews of the conference, both of
which highlight the importance of networking. We also have an article
with a number of excellent tips on starting out as a freelance
consultant.
Many of the exhibitors at the SLA conference will also be coming here
to London in December for the Online Information show. So remember to
cast your vote for those who provide outstanding customer service:
"Online Information / FreePint Award for Best Customer Service Team"
<http://www.freepint.com/events/online-info-2005/>
If you are thinking of striking out alone and working for yourself,
then take advantage of the expertise and support available at the
FreePint Bar <http://www.freepint.com/bar>. Many of us have already
made the move and we're more than happy to share our experiences,
either online or over a coffee. One quick bit of advice though:
do give some thought to how you're actually going to make money.
William Hann
Managing Editor and Founder, FreePint
e: william.hann@freepint.com
t: 0870 141 7474
i: +44 870 141 7474
FreePint is a Registered Trademark of Free Pint Limited (R) 1997-2005
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*** Reward good customer service :: Nominate today ***
This is your chance to reward excellence by nominating
the online information vendor who, in your opinion, has
provided you with outstanding customer service.
Cast your vote for this year's "Online Information /
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MY FAVOURITE TIPPLES
By Jan Verbogen
* If you do project management support work, Gantthead
<http://www.gantthead.com> should be in your favourites folder.
News, interesting articles, templates, book reviews, discussions,
tips; everything a PSO needs is there.
* Keep yourself organized at all times with 'Getting things done', the
productivity and life-management process developed by David Allen.
43Folders <http://www.43folders.com/2004/09/getting_started.html>
helps you get started.
* <http://www.langa.com/index.html> is the website of Fred Langa,
former editor of Byte and Windows Magazine. Subscribe to his
newsletter to keep informed about PCs, software and best practices.
* Wherever you are, you can always access your favourite RSS-feeds
using Bloglines <http://www.bloglines.com/>. I use it to read up on
books and literature.
* <http://www.j-walkblog.com/blog/> - John Walkenbach's blog about
'stuff that may or may not interest you'. The lighter side of
the Internet.
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Jan Verbogen works for the Belgian National Institute for Health
Insurance and Incapacity. Commuting to Brussels by train, he reads
about 100 books a year.
Submit your top five favourite Web sites. See the guidelines at
<http://www.freepint.com/author.htm>.
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Factiva's monthly newsletter, "InfoPro Alliance" gives you the inside
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FREEPINT BAR
<http://www.freepint.com/bar>
In Association with Factiva
a Dow Jones & Reuters Company
It's been three weeks since the last Bar Summary. A number of
questions remain unanswered and there have been some interesting
discussion threads.
Are you willing to talk about rates for competitive intelligence work
<http://www.freepint.com/go/b32321> or able to recommend a reliable
subscription management service for newspapers and magazines?
<http://www.freepint.com/go/b32398>. Is there any recent research into
the information needs of SMEs? <http://www.freepint.com/go/b32373>.
There have been some interesting comments on the changing role of the
information professional <http://www.freepint.com/go/b32357> and
someone considering doing a Masters is asking about CILIP's
Certification Framework <http://www.freepint.com/go/b32301>.
CILIP's Umbrella 2005 conference takes place at the end of the month,
and FreePint is looking for two reviewers to share their experiences
<http://www.freepint.com/go/b32251>. There are also many other
information events at this time of year, and FreePint's events page is
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Regarding technology, do you know of bulletin board software that can
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A programmer is looking for advice on selling his shareware
<http://www.freepint.com/go/b32340> and there's been some good advice
on putting out a Website tender <http://www.freepint.com/go/b32193>.
There have been a number of specific industry research enquiries: the
top UK capital project investors <http://www.freepint.com/go/b32316>;
global chemical production levels <http://www.freepint.com/go/b32320>;
database of shareholders of quoted European companies"
<http://www.freepint.com/go/b32317>; and children's TV media research
<http://www.freepint.com/go/b32315>.
Finally, there is an interesting discussion at the Student Bar
about a FreePinter's son's Open University scientific and
technological degree <http://www.freepint.com/go/s4402>.
Penny Hann <penny.hann@freepint.com>
FreePint
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The FreePint Bar is where you can get free help with your tricky
research questions <http://www.freepint.com/bar>
Help with study for information-related courses is available at the
FreePint Student Bar <http://www.freepint.com/student>.
Twice-weekly email digests of the latest postings can be requested
at <http://www.freepint.com/subs/>.
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JINFO :: JOBS IN INFORMATION
<http://www.jinfo.com/>
The Jinfo service enables you to search for and advertise
information-related job vacancies.
The Jinfo Newsletter is published free every two weeks, and contains
a list of the latest vacancies along with job seeking advice. The
latest editorial is entitled "So now you have to choose some one".
To read the latest Jinfo Newsletter and to subscribe to receive it
twice-monthly by email, visit <http://www.jinfo.com/newsletter/>.
Here are some of the latest featured jobs:
Information Officer
One of the leading London based law firms is seeking an Information
Officer to work as part of the Information Unit team.
Recruiter: D A Solutions Ltd
<http://www.jinfo.com/go/j4085>
Research Executive
Researcher required at leading information services plc to
research/update information from a range of sources for our websites
Recruiter: j4b plc
<http://www.jinfo.com/go/j4090>
Head of Information (Legal)
Legal Information Manager for newly created role to develop
prestigious law firm's know-how and legal information.
Recruiter: Glen Recruitment
<http://www.jinfo.com/go/j4098>
Researcher
Researcher - London - GBP25-30K. This is an exciting opportunity
for a bright, ambitious graduate to take on a key research role.
Recruiter: Penna plc
<http://www.jinfo.com/go/j4099>
Centre and Portal Administrator
Responsible for ensuring the efficient and effective administration
of the Centre's activities and updating & care of the website.
Recruiter: Sheffield Hallam University
<http://www.jinfo.com/go/j4114>
Information Services Manager
Law library management experience in Manchester? 9 month FTC, staff
and resource management to deliver enquiry and CAS services.
Recruiter: Sue Hill Recruitment
<http://www.jinfo.com/go/j4125>
Corporate Finance Researcher
Do you have a logical approach to information retrieval and an
ability to think creatively about research requests?
Recruiter: City Professionals
<http://www.jinfo.com/go/j4128>
NB: There are 30 other jobs in the current edition of the Jinfo
Newsletter <http://www.jinfo.com/newsletter/> and over 80 in the
Jinfo database <http://www.jinfo.com/>.
[The above jobs are paid listings]
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TIPS ARTICLE
<http://www.freepint.com/issues/160605.htm#tips>
"Two Views of the SLA Conference, Toronto, June 2005"
By Mary Hudson and Joanna Kaczmarczyk
Here are two reviews of the SLA conference which took place in
Toronto on the 5th-8th June <http://www.sla.org>, from both a US and
UK slant:
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By Mary Hudson
Introduction
------------
From the moment I walked down the road and saw the NYPD police car and
police officers, I knew I was in for an exciting few days at the SLA
Conference in Toronto. The Mayor of the City declared the week
"Special Librarians' Week in Toronto" and there were electronic
welcome signs at the airport.
Organisation
------------
Based around the Conference Centre in the city centre, close to both
the VIA rail station and the main underground shopping centre, the SLA
Conference was an astonishing feat of organisation.
Between four and five thousand librarians were expected and there was
a comprehensive mix of day courses, classes and half-day seminars
arranged, in addition to the main conference programme.
The registration and pre-registration worked well, although the queues
were quite long at times. The colour coding for name badges clearly
identified exhibitors, attendees and first-time attendees. (Much is
made of this and there is a Special Reception for them).
As at previous SLA conferences there was a free Cyber Connection,
where members could use email or access the internet or, of course,
access the SLA Conference Blog.
This year, food was available at certain times of the day in the
Exhibition Hall, provided by the major conference partners. It
included coffee breaks in the mornings, an international selection one
afternoon and an ice cream bar break on another.
The giveaways in the exhibition hall ranged from iPods and DVD players
to bugs, pens and sticky notes. Unexpected items at the conference
included the Greek statue performance artist who held his pose for two
hours on Monday and the attendee massage that was available each day.
Exhibition Hall
---------------
The Exhibition Hall on the first floor was similar to Online with
about two hundred and sixty exhibitors and more than four hundred
booths. There was a positive mix of technologies with major
publishers, software firms, e-book publishers and market research
companies all present.
More unusual exhibitors included <http://www.sharkrepellent.net> who
turned out to be a US firm dealing with corporate governance and
takeovers. Their sharks were very popular!
It was a great opportunity to see what was new in my subject area and
to talk to suppliers. On the first day of the exhibition there was
time to talk and look around as the main conference started on the
following morning and most attendees arrived in time for that.
Sessions
--------
There were Keynote Speakers on Monday, Tuesday and Wednesday mornings,
the first of whom was Don Tapscott, President of the New Paradigm
Learning Corporation. An accomplished speaker, he assured his vast
audience that we were now in the "information content collaboration
business". He raised the issue of how the next generation are "growing
up digital" and the effect this will have upon the business world of
the future.
The breakfast meetings are an important part of the conference, with
regular fixtures such as the Legal Division Tax Roundtable (on Sunday
morning) and the Standard and Poor's Business Breakfast meeting. On
the Monday morning alone there was a choice of 20 breakfast meetings!
These are excellent opportunities to hear speakers in your own subject
area, network with colleagues old and new and, of course, have
breakfast too.
High-profile speakers included Mary Ellen Bates, whose talk on "The
Next Information Revolution" was a fascinating run-through of the
expanding concept of searching, including non-traditional searching
and what this will mean for the information profession. Two of her
examples are:
* <http://www.grokker.com> helps to visualise the search, which may
be a clearer way for some people to sort the results of their
search
* <http://mindset.research.yahoo.com/> allows you to sort the
results as to whether you are intending to shop or to carry out
research.
Online University
-----------------
In addition, SLA chose this year's Conference to launch their own
online university <http://www.clickuniversity.com>. In partnership
with Elsevier, it is a new online learning system specifically
designed for librarians and information professionals. The intention
is to provide courses ranging from short courses on particular topics
to degree courses in conjunction with both Syracuse University and
Drexel University College.
Conclusion
----------
Overall, I found the days I spent at SLA informative and inspiring. It
lived up to its theme of "Connecting People and Information". The
speakers I listened to were positive and upbeat about the future of
information work and I appreciated the opportunity to talk to so many
of our suppliers in the Exhibition Hall.
And the NYPD police car and police officers?
Bruce Willis was making a film in Toronto and was wearing an
NYPD-style uniform - it was only pretend! It looked real on first
sight until I remembered which city I was in.
Toronto coped admirably with both his film unit and over four thousand
librarians.
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Mary Hudson is the information librarian for finance and economics at
Southampton Institute, a university college, soon to be a new
university. She first attended SLA whilst working in the tax library
of Deloitte and Touche and returned again this year for the first time
since the late 1990s. Even though she is no longer a Special
Librarian, she found the conference still relevant and useful to
attend.
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By Joanna Kaczmarczyk
So I have done it! Survived my first SLA conference. And it did
require a lot of strength to go through almost five days filled with
lectures, seminars, receptions, open days, breakfasts that started at
7am and days that could easily finish at midnight.
Don't think that you would be able to see much of the host city. My
guide to Toronto and the surrounding areas remained unopened, except
for Sunday (second day of pre-conference Continuing Education series
of workshops) when I went for a short trip to Niagara Falls.
Occasionally there was a chance to see the interiors of other
buildings (rather than your hotel's or convention centre's) when
vendors organised dinners for faithful subscribers to their wares. I
was fortunate to spend a delightful Monday evening on a 10,000 square-
foot trading floor of the former Toronto Stock Exchange building, now
housing the Design Museum.
You do get to know your printed conference guide pretty well. In
panic, I kept thumbing though it late at night and early in the
morning (and in-between sessions too) trying to remember what and
where I had planned to attend. And panic is the right word - as a few
people who have done it before predicted, I felt agitated thinking I
was missing some excellent session whilst sitting in a so-so one.
Countless conversations with fellow attendees circled around the
merits of the speakers, the currency of the subject and overall
usefulness of the workshops. While nobody expected too much fun (we
were librarians after all!), it was important to choose wisely because
one and a half hours could sometimes feel like a very, very long time,
especially if spent in a small room faced with an uninspiring speaker.
That's why some sessions, judged mainly by the word of mouth and the
celebrity status of the moderator (yes, yes, even in our little world
we do have some famous librarians or should I say Information
Professionals), were very popular and massively attended. Also,
"thought-provoking" seemed to attract attention, as well as anything
with "competitive intelligence" in the title, and, of course, so did
sessions that did not clash with any of the above.
And there were SLA General Sessions ... I have to admit, there was a
moment during the opening session on Monday when the quote from The
Mummy flashed in my mind. When I looked around and saw thousands being
addressed by Don Tapscott, authority in business strategy, I realised
I was surrounded by people who take their profession very seriously
and by default, I was one of them! It was a good feeling.
I wasn't able to maintain it for too long, though. The concept of 'The
Naked Corporation' was not the easiest to grasp. How do you
revolutionise your organisation with 'Transparency'? How do you get
your head around harnessing the 'Digital Capital' of your
organisation?
In the next general session, Bill Buxton had a similar message to
Tapscott: he stressed time and time again that it was our role, as
information professionals, to make sense of all this mess (the
technology) and create a kind of transparent order for our clients'
benefit. We could also help make the world a better place by
supporting our organisations through being honest, ethical, open to
critique and revision.
The last keynote speaker, Gary Hamel, "most influential thinker on
strategy", echoed Topscott: to survive as information professionals in
this breathtakingly fast-changing technological environment, we would
need to revolutionise our attitude - become innovative in all aspects
of our professional lives and keep breaking the boundaries of existing
business models.
These concepts are not difficult to grasp after all, but the challenge
is to take these strategies home and try to implement them in our
organisations where, in most cases, we need to fight daily for our
right to be considered worthy of our costly existence as information
departments. It seems obvious to me now, but it made me wonder: when
was the last time I did something innovative in my office? When did I
question existing ways? How would I react to a change or innovation
enforced by my superiors?
Like most delegates I expected practical advice; and some of the
workshops and sessions delivered. But, after these few days, I
realised there was not going to be a handout with all the answers to
take home. It is all up to me. Scary!
And here comes, in my opinion, the greatest benefit of the SLA
conference (and membership of this organisation). NETWORKING! I was
very sceptical at first, thinking networking is tiresome - you go
around presenting your business card to unsuspecting victims, staring
at their name tags and introducing yourself until you almost forget
your own name. Well, it is a bit like that, except that the pleasure
from meeting fellow 'gatekeepers' of the information world overrides
all the initial doubts.
I was very fortunate to meet, and get to know better, people I used to
work with, people I read and heard about, and also some enthusiastic
people who want to keep in touch and exchange information. This
eagerness in discussing our work practices, sharing experiences and
swapping success stories in overcoming our common problems gave me
more ideas I could implement in my work environment than most of the
formal sessions. We wouldn't even stop talking shop during our shared
breakfasts/dinners. That's what is called dedication - I hope our
bosses could hear that!
It wasn't all work and no play. Thanks to our European Chapter's well-
organised President we had contact details and intelligence of the
movements of most of the UK delegates - very helpful when planning
shopping or sightseeing trips. Tips on where to find good bars and
restaurants or which vendor parties were worth gate-crashing were
also exchanged. We did have a very good time!
Canada was a great host of the conference. I did not have much chance
to see Toronto, but was fortunate to spend a couple of days in baking
hot Montreal. And there, in my B&B, I met a fellow librarian. Motor
sports enthusiast (it was Grand Prix weekend after all - he drove on
his motorbike from the US to see the race) working for the US
government and the army as a librarian in a department dealing with
chemical weapons disposal. How challenging is that?! When he learned I
had just came from the conference, he said he used to attend for
years, but realised that as a librarian there were not many ladders he
needed to climb and he felt the conference program did little to
advance his career. But you cannot beat it for networking, he said
with a reminiscing smile; I couldn't agree more.
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Joanna Kaczmarczyk is a "solo" researcher providing information
services to European offices of Warburg Pincus International, a US
based private equity firm. Previously, she worked in research
teams of Goldman Sachs International and Hermes Pension Management.
She is also a member of Private Equity Information Professionals
group recently formed within the Business & Finance Division of SLA.
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Related FreePint links:
* 'Information and Libraries' articles in the FreePint Portal
<http://www.freepint.com/go/p69>
* Post a message to the authors, Mary Hudson and Joanna Kaczmarczyk,
or suggest further resources at the FreePint Bar
<http://www.freepint.com/bar>
* Read this article online, with activated hyperlinks
<http://www.freepint.com/issues/160605.htm#tips>
* Access the entire archive of FreePint content
<http://www.freepint.com/portal/content/>
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"Online Competitive Intelligence:
Increase your profits using cyber intelligence"
Reviewed by Arthur Weiss
I started reading Online Competitive Intelligence by Helen Burrell
full of high hopes - but the book turned out to be a bit of a
'curate's egg': excellent in parts but inadequate elsewhere.
Online Competitive Intelligence is divided into four sections:
* An introduction to Competitive Intelligence (CI);
* Choosing & using online sources for CI;
* Organising the research;
* References & appendices.
The first section is the best - giving an overview of CI, and
searching for online information. Burwell discusses the benefits of
paying for information versus using the Internet for free information.
She examines methods for handling projects and seeking information,
and gives good examples on ways of defining competitors and the types
of intelligence that can be found online. I had no problems with
this section, finding it interesting and informative.
The next section should be the meat of the book - but in my view, it
was not thought through sufficiently, and is the weakest part. It
consists of a number of chapters looking at different types of
information. I found the style tedious and repetitive with its
description of numerous sources yet without really explaining the
principles for finding them. This is a major missed opportunity as the
book could have advised on techniques for more effective searching for
sources rather than its "here is one I discovered earlier - now
bookmark it and hope that it never disappears" approach.
On the other hand, to be fair, most readers would not have read
through this section in its entirety, but instead just used it as a
reference section looking up only those aspects that were needed.
Unfortunately, the overall focus is on researching US companies - and
the suggestions for non-US research are eclectic (for example, Burwell
includes just four lines on the UK government's web archive, and
almost nothing on other European official sources: as for Asia and the
Pacific rim areas - these may as well not exist). Considering that
business is now global, I think that this is a significant drawback to
the book.
The third section is good - consisting mainly of a number of templates
that can be used as models for CI reports and profiles as well as
suggestions for finding sources for particular competitor profile
parts. The final section of the book primarily lists several hundred
web-sites. These are broken down by category and notwithstanding the
aforementioned US bias this is still useful as a list of online CI
resources.
The book is a second edition, and I noticed a number of pages that
should (and could) have been updated but weren't - for example in the
first chapter Burwell recommends FT Profile for non-US research. FT
Profile was acquired by Lexis-Nexis in 2000 and the service was
discontinued a few years ago. This is slightly ironic, as on the next
page, Burwell correctly says that one way of assessing the quality of
online information is by asking if the data is complete and when was
it last updated!
In summary - should you buy this book? Well it depends - if you are
based in the US, or this is your primary focus then you would find
this book a great resource for online CI. However if finding
competitive intelligence on US companies is not your thing then you
are likely to be disappointed - as the book fails by not offering
general techniques for finding sources, meaning that you will be
none the wiser when it comes to locating elusive CI information on
other regions.
> - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Arthur Weiss is a UK-based management consultant specialising in
competitive intelligence and strategy. He first started using online
sources for competitive intelligence in the late 1980s and since then
has become expert in all aspects of online research. In 1997 he
offered the first training course on using the Internet for
Competitive Intelligence (at the Online Information Conference) and
has continued offering training courses on this topic. Arthur has
written and presented on competitive intelligence, marketing and
Internet related topics in the UK, Europe, US and elsewhere. Arthur is
the managing partner of AWARE, a CI consultancy offering clients CI
research, analysis and training. He can be contacted through AWARE's
web-site at <http://www.marketing-intelligence.co.uk>.
> - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Related FreePint links:
* Find out more about this book online at the FreePint Bookshelf
<http://www.freepint.com/bookshelf/oncoin.htm>
* Read customer comments and buy this book at Amazon.co.uk
<http://www.amazon.co.uk/exec/obidos/ASIN/1889150088/freepint0c>
or Amazon.com
<http://www.amazon.com/exec/obidos/ASIN/1889150088/freepint00>
* "Online Competitive Intelligence: Increase your profits using cyber
intelligence" ISBN 1889150088, published by Facts on Demand Press
* Search for and purchase any book from Amazon via the FreePint
Bookshelf at <http://www.freepint.com/bookshelf>
* Read about other Internet Strategy books on the FreePint Bookshelf
<http://www.freepint.com/bookshelf/strategy.htm>
To propose an information-related book for review, send details
to <support@freepint.com>.
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What is ResourceShelf?
<http://www.resourceshelf.com>
ResourceShelf is a free daily update containing news of interest
to information professionals around the world.
Topics include the latest news with web search engines, research
tips, new web resources, and much more.
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FEATURE ARTICLE
<http://www.freepint.com/issues/160605.htm#feature>
"Setting Up as an Independent Consultant"
By Jela Webb
Introduction
------------
The nature of the workplace has been changing, with organisations
slimming down and outsourcing many types of activities; this has given
rise to the loss of both job security and long-term employment.
Consultancy may be defined as 'providing independent services to meet
clients' needs in exchange for a fee'. Consulting has become a viable
option particularly with the focus on the knowledge-based economy. It
is important to distinguish consultancy from contracting - a
consultant has much greater autonomy, often assisting more than one
client at a time, often choosing the hours worked, deciding for
themselves whether to work on- or off-site and being responsible for
the final product or service.
The consulting industry is diverse and covers a wide range of
activities. Broadly speaking it can be broken down into four
categories:
1. Strategy firms
2. Full service firms
3. Boutique firms
4. Independents
This article will concentrate on 'independents' - more than 50% of
consulting firms are 'one-man bands' and it is increasingly becoming
an attractive proposition for many who feel that corporate life is no
longer for them. Whilst giving up full-time paid employment to set up
as a consultant might be a daunting prospect, with proper planning and
a methodical approach, you should be able to fully reap the rewards of
working independently. Keys to success lie in having the right
personal qualities and skills together with an understanding of
management practices.
Establishing your own consultancy is a risk and the pressures
associated with it should not be underestimated. You will be staking
everything on your own ability and must be able to deal with the
downsides as well as the upsides. There is no doubt that it can be a
rewarding experience but firstly ask yourself why do you want to set
up as an independent consultant. Reasons may include:
* Independence - however, working as a consultant will entail working
with and for others so you still need to be able to work in or as
part of a team
* Job satisfaction - wanting to do something in your own way and style
will often lead you down the self employed (consultancy) route
* Achievement and success - there is a real 'buzz' attached to running
your own successful business but be prepared to deal with the
challenges this brings and equip yourself to deal with any
difficulties
* Money - starting and running your own consultancy does not guarantee
wealth. Starting a consultancy when you feel you have no other
choice is a situation you should be wary of.
Is consultancy for you?
-----------------------
Consultants need an area of expertise - clients typically buy services
that they don't have 'in-house' so you need to think about what it is
that you are selling - clients are busy people so you need to make it
quite clear at the outset what it is you can deliver and how it will
benefit them. Having an area of expertise may mean that you want to
concentrate on a specific discipline (e.g. organisational development)
or in a specific sector. If you limit yourself to a particular sector
then do be aware of the impact of any industry downturn and what that
might do to your own business.
Some consultants prefer to market themselves as generalists where they
sell a range of skills across the market. A word of caution: clients
can sometimes be suspicious of someone who purports to be able to
solve all their issues. If you feel that you are more likely to
succeed as a generalist then I'd advise you to sell your services as
an expert in the client's most pressing area and introduce other
generalist skills as the assignment develops.
Self-assessment
---------------
It is advisable to undertake some self-assessment and analysis before
embarking on a new consultancy venture. Firstly assess your skills,
undertake a self audit exercise - detail your skills (technical,
business, leadership, selling, organisational) and attributes;
consider how you might apply these in consultancy work. Be honest and
objective; ask friends, colleagues and family members their opinion.
Consider the type of consultancy projects you would like to work on -
have you undertaken similar/relevant work before? Can you provide
evidence of your ability? Have you published any work in related
subjects? Are you able to construct a portfolio of consultancy
projects, references and articles that can help you sell yourself to
potential clients?
To run your own consultancy business you need to be pretty resilient
and answer some searching questions honestly :- Are you realistic
about your own capabilities? Are you motivated and self-disciplined?
Do you have a support network? Are you prepared to dedicate yourself
fully to establishing the business? Do you have good interpersonal
skills? Are you decisive? Do you cope well with stressful situations?
Do you 'stick it out' when times get tough? Do you take advice and
learn from mistakes? Are you in good health? Do you fully appreciate
the risks in establishing your own consultancy?
If you are able to answer affirmatively then you have got what it
takes to move forward. If not, don't despair - by thinking carefully
about the areas I have highlighted you will have identified aspects
that need to be worked on and where to focus your improvement efforts.
Marketing
---------
Consultants also need to be able to promote and market themselves. As
an independent you will be responsible for your own marketing and
although it is relatively straightforward to set up a sole
proprietorship consultancy, establishing and sustaining business
activity calls for marketing and promotion. Promoting yourself,
persuading people to support you and winning clients is crucial to
success.
A new consultant may become involved in a good deal of speculative
work in order to establish a client portfolio, sometimes you have to
'speculate to accumulate' but be aware of offering too much for free
as you will run the risk of devaluing your services if you don't
charge for them. It's a careful balancing act, which becomes easier as
you become more established.
Most consultants will have contacts in their area of expertise from
their previous experience/employment and can target these for work. I
always encourage people starting up not to overlook existing contacts
as potential future clients.
Stationery, publicity material and business cards should be well
designed and printed on good-quality paper. These days, with the
advent of the PC and suitable software, it is possible to produce
professionally-looking material without going to huge expense.
Other marketing-related activity might include speaking at conferences
and local business events, presenting to professional associations and
writing articles for relevant industry journals. Local newspapers run
'advertorials' in their business sections so you may want to advertise
the launch of your consultancy this way.
Mailing packs can be distributed to potential clients - these could
include a CV, details of services offered, details of memberships of
professional bodies, details of previous assignments (opportunities
may have been possible whilst still in full time paid employment),
details of any conference speaking engagements, published articles,
references and feedback from previous projects. Think about presenting
the material in a creative way - in an unusually shaped parcel or in a
tube (this happened to me once and was a real attention-getter!).
The Internet provides opportunities to establish your own web site for
marketing and promotional purposes. The investment in a web site can
pay dividends and helps to present a professional image. Do you meet
the 'Google factor?' If a potential client types your name into a
search engine what results are returned?
Networking
----------
Networking is very important and for most consultants it is the single
most important business-getting tool. To succeed in consultancy you
need to establish a personal and professional network. It is no
exaggeration to suggest that your network should be in the region of
200 and needs to be nurtured and updated regularly. It is interesting
that whilst so much business (not just consultancy) is obtained
through networking, these skills rarely appear on any business school
curriculum.
You probably already have a personal network from:
* Family
* Friends and neighbours
* Colleagues
* College/university
and a professional network from:
* Previous employment
* Conferences
* Exhibitions
* Trade associations
* Business/professional associations
* Contacts from presentations attended/given
Make a list and start building and cultivating your network months in
advance of starting your consultancy.
Formal networking events can sometimes feel daunting, remember the
unease that you feel is no different from how others feel - look out
for someone standing on their own, initiate an approach, ask them
about projects they are involved in, find common ground. Be sincere
and don't be afraid to circulate; set yourself a target of making
three new contacts at each networking event.
Develop your 'elevator pitch': describe what you do and importantly
how you benefit clients, in a couple of short sentences.
Keeping in touch with many contacts is made easier with e-mail - a
newsletter, a launch of your new web site or an e-Christmas card for
instance.
Chargeable rates
----------------
The amount you charge a client will largely depend upon the market.
Ascertain what the 'market rates' are and price accordingly. If you
price your services too high then you may not secure any work.
Alternatively, if you price too low, then you may not secure work
because you may give the impression of a cheap and not very valuable
service.
How much can you charge? This is an age-old challenge for new
consultants. The five-step plan below gives an indication of how you
might work out your chargeable rate:
1. Calculate annual household and personal expenditure (food, clothes,
mortgage, holidays, rent, telephone, tax, pension, insurance etc.)
2. Calculate the income required to cover the above items
3. Add all the annual business costs to the income calculation
4. Divide the total by the number of days you plan to work each year
5. Add on the profit you wish to make (a margin of 15% to 25% is not
unreasonable)
This will then enable you to work out your daily chargeable rate. It
is important to bear in mind that you will not be generating income on
every 'working day' of the year. There will be days when you need to
build your skills, (attend courses, conferences, exhibitions, etc.),
days spent on administrative matters, days spent on marketing
activities, days spent putting proposals together, etc. As a broad
rule of thumb, I'd recommended using 60% of the available working days
for fee income work and price your services accordingly.
Legal aspects and other requirements
------------------------------------
Aspects that you need to consider are bank accounts, insurance, tax,
VAT, national insurance as well as deciding what form the business
will take - sole trader or limited company. It is best to seek
professional advice.
Write a business plan, set targets and goals and don't forget your own
continuing professional development.
Summary
-------
A single-person consultancy can be started relatively easily and at
very little cost. Give it some careful thought and planning - the
issues outlined provide you with guidance, there is a good deal to
consider and it can be a very satisfying experience. There are risks
and pressures associated with it. You need to have the right skills
and temperament to succeed. It is important to assess your abilities
and aptitude honestly before proceeding with your ideas.
Do your homework, you are taking a chance; if after considering all
the issues, you feel you have a viable proposition go ahead - give it
100%. Good Luck!
Useful links
<http://www.imc.co.uk>
<http://www.mca.org.uk>
<http://www.top-consultant.com>
<http://www.bni.com>
> - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Jela Webb is an independent consultant specialising in information and
knowledge management. Also a visiting university lecturer, running
'Consultancy Skills' workshops and is the Module Convenor for an MBA
Elective 'Consultancy Skills' at the University of Brighton.
Jela also offers one-to-one coaching services to individuals embarking
upon a consultancy career.
She may be contacted via <http://www.azione.co.uk>.
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Related FreePint links:
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A look back at what FreePint covered at this time in previous years:
* FreePint No.161 17th June 2004. "The Impact of the US Sarbanes-Oxley
Act on Records Management World Wide" and "RSS: Less hype, more
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* FreePint No.139 26th June 2003. "Taxation Law Resources Online - Tax
Doesn't Have to be Taxing" and "Searching Free Trade Mark Databases
on the Web" <http://www.freepint.com/issues/260603.htm>
* Free Pint No.114 13th June 2002. "Web Site Usability Resources" and
"War & Peace, Famine & Disaster - Finding Work in International
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* Free Pint No.90, 21st June 2001. "Do you Google?" and "Electronic
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<http://www.freepint.com/issues/210601.htm>
* Free Pint No.65, 22nd June 2000. "Internet Intelligence - analysing
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* Free Pint No.41, 24th June 1999. "Answering back" and "Finding Links
to the Past: archaeological resources on the Web"
<http://www.freepint.com/issues/240699.htm>
* Free Pint No.16, 11th June 1998. "Web Site Marketing - How do they
do that?"" and "How to run a survey on the Net"
<http://www.freepint.com/issues/110698.htm>
Penny <penny@freepint.com>
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