While it’s hard to avoid the doom and gloom headlines, blog content and conversation of today’s market, there are many who can see opportunities to “do things differently”. As businesses tighten their belts and assess their position in the current market, some believe that this means “I guess I’ll have to work more efficiently”, or “I’ll pay more attention to detail now”. Shouldn’t we be doing this in any economy - good or bad?

If you’re part of the population (as I am) who believes that opportunities abound, here are a few “marketing lessions from the world of management consulting”:

1. Expand your learning. Many folks are using this “quiet time” in the job and business market to brush up on their personal skills. Interested in learning more about website marketing? Check out High Rankings’ workshops on social media, web analytics and website copywriting.

2. Be a leading indicator. A colleague has just finished a two-year run of challenging conditions in his business…. by landing his “dream job” - one that he wasn’t even looking for! According to him, he’s a “leading indicator” of what’s in store for the rest of us over the next few years.

Take a look around you. Are you observing trends that your clients may not? Which of your business relationships are most solid right now? What does this mean for the work that you do and how might that be a predictor of future business?

3. Be hopeful. Hopeful (adj., exciting hope; promising advantage or success) is different than wishful (adj., having or showing a wish; desirous; longing). Hopeful means being optimistic about what your role in the future can be - how can you take that half full glass and turn it into a) revenue, b) a new job opportunity, c) a different view of the business world? Wishful thinking anticipates something that may not be an improvement over the current situation, and is likely not based in real probability. Be hopeful about what’s around the corner and know what it means to you and your business.

One question that I get every so often from clients, colleagues and acquaintances is whether or not consulting is a “lonely business”. Those who aren’t familiar with the routine of the consultant can’t imagine the balancing act of developing business, delivering work and focusing on professional development all at the same time. It’s not for everybody…and it’s also what you make of it.

During the past 11 years, I’ve had the pleasure of offering business consulting services to huge companies (IBM, Sun and Pfizer), non profit organizations (like EDC, Inc.) and startups (like tvCompass and RampRate Inc.). I have to say that each engagement has had one thing in common - teaming and collaboration. It’s impossible to understand a client’s current situation and desired outcome without becoming immersed in their organization. And in order to deliver business management and consulting services, it’s usually important to interact with the client, their suppliers, employees, and partners. I find that business management consulting is anything but lonely!

It dawned on me recently that the most energizing aspect of the work that I do is collaborating with others. On any given day, I might interact with other members of the Institute of Management Consultants (IMCNE) to create a press release for an event or a survey for the membership. On another day, I wear my marketing consulting hat and pull together a cross-functional team at a client site to walk through a strategic planning exercise for 2009. By the end of the week, I may be participating in an online meeting with a client and their key sales managers as we develop sales training workshops for even more teams within the organization.

Is professional consulting a lonely business? Not at all - if you do it well!

In these crazy economic times, don’t lose focus of some business basics that can help keep your organization on track:

1. Update your plans.
Now’s a good time to take a look at your goals for the rest of 2008 and refresh your business planning. Take a look at your sales funnel, and closely examine whether or not it needs adjustment. Have customers put off purchasing until next year? Have any of your prospects indicated a significant shift in their business? What’s the current buyer behavior and has it changed? Are your sales, management and operations plans up to date?

2. Encourage a “We rise and fall together” culture.
It’s often true that there’s safety in numbers, so encourage your team and the rest of the organization to look at positive, thoughtful ways to get handle the current economic climate. Engage the organization to work together with a team challenge, for example, to come up with five new ways to improve productivity.

3. Reach out and touch someone.
Shifts in global economic and business markets are often a great conversation starter. Over the past several weeks, I’ve received calls from vendors and suppliers who were “just checking in” to see how my business was running. It’s always wise to keep communications open with prospects and clients, in good times and in challenging ones.

4. One person’s trash is another’s treasure.
I’ve often heard this saying applied to garage sales, and it can also apply to your business. Look for competitors who may abandon market segments where you can fill a need; take another look at customers that may be underserved. Can you reposition your products or services in a new or different way to appeal to this audience?

5. Leading change = Lead by example
In an interview with Fred Hassan, CEO of Shering-Plough, The Harvard Business Review assesses the work that’s been done to transform that organization. The primary focus has been on regaining the “top line” - the sales organization - as a key value driver. Since 2003, the focus has been on salesforce performance, relationship building with physicians and leveraging the sales management team to extend the company’s vision to its selling organization. Within your organization, now is a good time to lead change that can have longlasting impact.

Over the past few weeks, I’ve had face-to-face interactions with people in a number of business situations: training a group of executives from a West African nation; participating in a networking workshop with fellow consultants;  facilitating a sales meeting with a medium-sized client.  In each of these situations, the topic of social networking came up. In each of these situations, the discussions varied widely…with one major theme: What does business have to do with social networking, anyway?  Here is one consultant’s perspective on the topic:

Getting in and getting on

What you share about yourself online is up to you. Some people simply restate their resumes or CVs. Others use the social networking forum to share information about their interests and goals. Keep in mind that when you note that you are interested in getting touch with people for job opportunities that your employer or colleagues may also see that information.

Getting the most out of social networking

In addition to getting your virtual self on the internet, social networking has the following benefits:

·         Get a job or a contract: some networks have job postings that you can access either free or for a fee;

·         Get a referral or a testimonial from someone you know;

·         Research your competition;

·         Prepare for a job interview by understanding the background of your interviewer(s);

·         Learn about a prospect’s business;

·         Investigate business, research, and industry trends;

Keeping current

It’s important to keep your profile up to date. Just completed a professional certification class? Add it to your profile. Signed up for volunteer work? Add that too.

Tying online and offline networking together

Now that you’re tapped into a social network, how do you coordinate your online and offline networking activities? Here’s how: After each social or business gathering that you attend, make it a habit to log those collected business cards into your favorite contact database. Then, invite these new acquaintances to become part of your online network. You’d be surprised at how quickly your network will grow.