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Being an Online Consultant: What Every Beginner Needs to Know

Being an Online Consultant: What Every Beginner Needs to Know

When you move into the working world, life throws many paths at you―some very unprecedented paths which make you doubt yourself. You walk through the doors of rejection with pride and determination while there are moments you’re withering from the inside. But, there are also the significant moments where you find your inspiration to start a career from a different angle.

Recently, the market is booming with online consultancies to help make the world a flatter and reachable platform. It’s negating the concept of distance and making it possible for the world to be run with just a click of a button from any corners of the world.

However, when starting out, we all need that holy book of guidance ‒ not only it boosts our confidence, but also it gives us a great start. What do you need? To answer that question, we have put together a few tips on what you need to have a great start in being an online consultant.

1. Make Sure That You’re Not Charging Too Little

When starting a business, you often times assume that the less you charge, the more you attract. You assume that people are fearful of high prices and you wouldn’t attract more clients if you’re charging a high price. It could be guilt; it could be inexperience or it just could be the fact that you don’t know what to charge.

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Charge more than you think. ― always remember this as your quote. In an online consultancy business always remember to not sell yourself short. Your clients will want their return on investment in everything they invest in – they’re not only investing their money, but they’re also investing their time so take that into consideration. If you can prove ROI, then you’ve got the permission to charge a steady percentage of your client’s profit.

Remember, there’s no potion that will hand you the key to set your price point. You will have to determine it yourself and consider all your pro’s and con’s. A perfect example is, when you’re looking for a pair of shoes, you would find Charles & Keith much more valuable compared to the same pair you’d find in a flea market or a random super-mart. Even if it’s the same pair, you would find the over-priced pair much more exquisite than the cheaper one.

Never sell yourself short.

2. Always Know Your Tools

Starting up in a new field can be taxing, you would need to comprehend everything you’ve practiced in your life in an online world; converting your client base from an offline to an online path, understanding your finances, and finding the perfect platform to communicate with your clients. Skype maybe be the known reliable tool, but does it fit your purpose? How will you manage to track down your finances and how will you ensure that you aren’t wasting your time with clients who won’t bother paying?

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Always research the market and seek the best tools you would like to use for your business. For example, MINT in itself is a perfect tool to keep track of your finances, tally your taxes, and make sure your payments are done in time. This will ease the burden of your strenuous day and leave the bookkeeping to be done by your app.

The internet is a place filled with wonders, you can find freelancers, free sites to build your website, and various communication platforms that would guarantee your client satisfaction and build your business that eventually will sustain itself without any major marketing plans.

3. Always Remember: You’re Not Your Own Boss

The sentence which is constantly uttered when anyone embarks in the world of online consulting is “I finally get to be my own boss”. This myth has created a lot of disappointment and has made many entrepreneurs who started out in this business to quit before they’ve even embarked on this journey.

So, the most important concept to understand is that YOU’RE NOT YOUR OWN BOSS.

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In the world of business, you’re never your own boss, as your clients are paying for your services and your clients are ensuring the lifeline of your business. It means that they are your bosses; they determine your billable hours and look for the necessary results before endorsing any form of payments. Therefore you have to constantly ensure to please not just one boss, but multiple bosses. This attitude will keep you humble and allow your venture to progress at a steady pace.

But what are you entitled to?

You have your own identity, you are responsible for deciding upon your schedule and what you offer. Despite them paying for your services, you have the privileges to say “NO”. This gives you the freedom to choose and the discipline you need to work hard and maximize your potential.

Isn’t it the best of both worlds?

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4. Know The One Reason Why You’re Hired

You are hired for one reason and one reason only; “knowledge”.

As a consultant, your niche is knowledge, your clients hire you to help them with something they don’t know. They hire your services pertaining the fact that you know more than they do, so you got to hold your end of the bargain. You have to always make sure that honesty is your key principle.

When they say “Honesty is the Best Policy “, they don’t mean it lightly.

You have to be able to call things as you see them and offer advice from a professional standpoint, which can either be derived from your own personal interest or from your education background. Either way, the knowledge you pass on should be on a professional basis and at the end of the day, if they disagree or don’t enjoy your opinion, it isn’t your problem ‒ it’s just their opinion.

Your deliverable knowledge is your business model, hence, make sure it isn’t a half-baked mumbo jumbo. If you lose the reliability of your information, you lose your business.

Now you have the major keys to launch a successful online consulting business. All you need now is to roll up your sleeves and be willing to get down and dirty in this industry. Work hard and be the best consultant you can be; your business will take on a life on its own.

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Published on September 23, 2020

6 Effective Negotiation Skills to Master

6 Effective Negotiation Skills to Master

I don’t know about you, but many times when I hear the word negotiate I think of lawyers working out a business deal or having to do battle with a car salesman to try to get a lower price. Since I am in recruiting, the term “negotiation” comes up when someone is attempting to get a higher compensation package.

If we think about it, we tend to negotiate almost every day in a wide variety of things we do. Getting a handle on the important negotiation skills can be incredibly beneficial in many parts of our lives. Let’s take a look at 6 effective negotiation skills to master.

What is Negotiation?

First, let’s take a look at what negotiation is. Put simply, negotiation is a method by which people settle their differences. It is a process in which compromise or agreement can be reached without argument or dispute.

Anytime two people or sides disagree on something, they are almost always looking for the best possible outcome for their side. This could be from an individual’s perspective or someone representing an organization.

In reality, it’s rare that one side gets everything they want and the other side gets nothing that they are seeking. Seeking to reach a common ground of sorts where both sides feel like they are getting most of what they want is the key to being successful and maintaining the relationship.

Places We Negotiate

I’ve mentioned that we negotiate in just about all phases of our life. For those of you who are shaking your head no, I invite you to think about the following:

1. Work/Business

This one is the most obvious and it’s what naturally comes to mind when we think of the word “negotiate”.

When you first started at your current job, you might have asked for a higher salary. It could be that you delivered a huge new client to your company and used this as leverage in your most recent evaluation for more compensation. If you work with vendors (and just about every company does), maybe you worked them to a lower price or better contract terms.

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In recruiting, I negotiate with candidates and hiring managers all the time to land the best talent I can find. It’s very common to accept additional work with the (sometimes spoken, sometimes unspoken) agreement that it will benefit your career in the future.

Recently, I took over a project that was my boss was working on so that I would be able to attend a conference later in the year. And so it goes, we do this all day long at work.

2. Personal

I don’t know about you, but I negotiate with my spouse all the time. I’ll cook dinner with the understanding that she does the dishes. Who wants to mow the lawn and who wants to vacuum and dust the house?

I think we should save 10% for retirement, but she thinks 5% is plenty. Therefore, we save 8%. And don’t even get me started with my kids. My older daughter can borrow my car as soon as she finishes her chores. My younger daughter can go hang out with her friends when her homework is done.

Then, there are all those interactions in our personal lives outside our homes. The carpenter wants to charge me $12,000 to build a new deck. I think $10,000 is plenty so we agree on $11,000. I ask my neighbor if I can borrow his snowblower in the winter if I invite him over the next time I grill steak. And so on.

3. Ourselves

You didn’t expect this one, did you? We negotiate with ourselves all day long.

I’ll make sure I don’t skip my workout tomorrow since I’m going to have that extra piece of pizza. My spouse has been quiet the last few days, is it worth me asking her about, or should I leave it alone? I think the car place charged me for some repairs that weren’t needed, should I say something or just let it go? I know my friend has been having some personal challenges, should I check in with him? We’ve been friends for a long time, I’m sure he’d come to me if he needed help. I’ve got the #4 pick in this year’s Fantasy Football draft, should I choose a running back or a wide receiver?

Think about that non-stop voice inside your head. It always seems to be chattering away about something and many times, it’s us negotiating with ourselves. I’ll finish up that report that the boss needs before I turn on the football game.

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Why Negotiation Skills Are So Important

Put simply, negotiation skills are important because we all interact with other people, and not only other people but other organizations and groups of people as well.

We all rarely want the same thing or outcome. Most of the time a vendor is looking at getting you to pay a higher price for something than you want to spend. Therefore, it’s important to negotiate to some middle ground that works well for both sides.

My wife and I disagree on how much to save for retirement. If we weren’t married it wouldn’t be an issue. We’d each contribute how much we wanted to on our retirement funds. We choose to be married, so we have to come to some agreement that we both feel comfortable with. We have to compromise. Therefore, we have to negotiate.

If we each lived on a planet by ourselves, we would be free to do just about anything we wanted to. We wouldn’t have to compromise with anyone because we wouldn’t interact with anyone. We would make every choice unilaterally the way we wanted to.

As we all know, this isn’t how things are. We are constantly interacting with other people and organizations, each one with their own agenda’s, viewpoints, and opinions. Therefore, we have to be able to work together.

6 Negotiation Skills to Master

Having strong negotiation skills helps us create win-win situations with others, allowing us to get most of what we want in conjunction with others around us.

Now, let’s look at 6 effective negotiation skills to master.

1. Preparation

Preparation is a key place to start with when getting ready to negotiate. Being prepared means having a clear vision of what you want and how you’d go about achieving it. It means knowing what the end goal looks like and also what you are willing to give to get it.

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It also means knowing who you are negotiating with and what areas they might be willing to compromise on. You should also know what your “bottom line” is. By “bottom line” I mean what is the most you are willing to give up to get what you want.

For instance, several years ago, I decided it was time to get a newer car. I say newer because I wanted a “new to me” car, not a brand new car. I did my research and figured out what type of car I wanted. I decided on what must-have items on the car I wanted, the highest amount of miles that would already be on it, the colors I was willing to get it in, and the highest amount of money I was willing to pay.

After visiting numerous car dealerships I was able to negotiate buying a car. I knew what I was willing to give up (amount of money) and what I was willing to accept, things like the color, amount of miles, etc. I came prepared. This is critical.

2. Clear Communication

The next key skill you need to be an effective negotiator is clear communication. You have to be able to clearly articulate what you want to the other party. This means both clear verbal and written communication.

If you can’t clearly tell the other person what you want, how do you expect to get it? Have you ever worked through something with a vendor or someone else only to learn of a surprise right at the end that wasn’t talked about before? This is not what you would call clear communication. It’s essential to be able to share a coherent and logical vision with the person you are working with.

3. Active Listening

Let’s do a quick review of active listening. This is when you are completely focused on the speaker, understand their message, comprehend the information, and respond appropriately. This is a necessary ingredient to be able to negotiate successfully. You must be able to fully focus on the other person’s wants to completely understand them.

If you aren’t giving them your full attention, you may miss some major points or details. This leads to frustration down the road on both sides. Ensure you are employing your active listening skills when in arbitration mode.

4. Teamwork and Collaboration

To be able to get to a place of common ground and a win-win scenario, you have to have a sense of teamwork and collaboration.

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If you are only thinking about yourself and what you want without giving much care to what the other person is wanting, you are bound to wind up without a solution. The other person may get frustrated and give up if they see you are unwilling to meet them halfway or care little for what they want.

When you collaborate, you are working together to help each other get what is most important to you. The other upside to negotiating with a sense of teamwork and collaboration is that it helps create a sense of trust, which, in turn, helps provide positive energy for working to a successful conclusion.

5. Problem Solving

Problem-solving is another key negotiation skill. When you are working with the other person to get the deal done many times you’ll face new challenges along the way.

Maybe you want a new vendor to provide training on the software they are selling you but they say it’s going to cost an additional $20,000 to provide this service. If you don’t have the additional $20,000 in the budget to spend on the software but you feel the training is critical, how are you going to solve that problem?

From what I’ve seen, most vendors aren’t willing to provide additional services without getting paid for them. This is where problem-solving skills will help continue the discussions. You might suggest to the vendor that your company will also be looking to replace their financial software next year, and you’d be happy to ensure they get one of the first seats at the table when the time comes if they could perhaps lower the pricing on their training.

There’s a solution to most challenges, but it takes problem-solving skills to work through them effectively.

6. Decision-Making Ability

Finally, having strong decision-making ability will help you seal the deal when you get to a place where everyone feels like they are getting what works for them. Each step of the way you can cross off the list when you get what you are looking for and decide to move onto the next item. Then, once you have all of your must-have boxes checked and the other side feels good about things, it’s time to shake hands and sign on the dotted line. Powerful decision-making ability will help you get to the finish line together.

Conclusion

There you have it, 6 effective negotiation skills to master to lead a more fulfilling life. Once we realize that we negotiate in one form or another almost every day in every phase of our lives, we realize how critical a skill it is.

Possessing strong negotiation skills will help you in nearly every one of your relationships at both the workplace and in your personal life. If you feel your arbitration tools could use some sharpening, try some of the 6 effective negotiation skills to master that we’ve talked about.

More Tips to Improve Your Negotiation Skills

Featured photo credit: Windows via unsplash.com

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