{"id":556,"date":"2020-02-28T16:40:35","date_gmt":"2020-02-28T16:40:35","guid":{"rendered":"http:\/\/jackofalltradesmasterofsome.com\/blog\/?p=556"},"modified":"2020-02-28T16:40:38","modified_gmt":"2020-02-28T16:40:38","slug":"consulting-101-consulting-key-phrases","status":"publish","type":"post","link":"https:\/\/jackofalltradesmasterofsome.com\/blog\/2020\/02\/28\/consulting-101-consulting-key-phrases\/","title":{"rendered":"Consulting 101 – Consulting Key Phrases"},"content":{"rendered":"\n

Consulting Key Phrases<\/a><\/h2>\n\n\n\n

50-Thousand-Foot View<\/a><\/h3>\n\n\n\n

The 50-thousand-foot view of an item or process is when you\ntake a step back and only look at the high-level aspects of it. Many people\nwill get lost in the minutia of an item or begin to jump down rabbit holes when\ntrying to explain something, so it is good to bring the conversation back up to\na higher level when that is all that is needed.<\/p>\n\n\n\n

Low Hanging Fruit<\/a> <\/h3>\n\n\n\n

Low hanging fruit describes tasks or project items that are\nvery simple and quick to accomplish. These tasks can be started and completed\nfrom beginning to end. A good consulting strategy will stack a series of low\nhanging fruit at the beginning of phases of work so that the client can see the\nimmediate benefits of the work.<\/p>\n\n\n\n

Let\u2019s Circle Back Around to That<\/a><\/h3>\n\n\n\n

This phrase will occur in two instances. The first is when\nthe conversation has spiraled out of control or taken a tangent and what is\nbeing discussed is not immediately valuable to the original conversation.\nNoting down this tangent and coming back to it at a later time is sometimes the\nbest course of action to ensure you don\u2019t go too far off track. The second\nscenario this will occur in is when the audience member is lost in the\nconversation or does not have an immediate answer. This is a good way to get a\nbreak in the conversation on a topic you may not be familiar with and give\nyourself some time to get familiar with the topic so you do not discredit\nyourself.<\/p>\n\n\n\n

Boiling the Ocean<\/a><\/h3>\n\n\n\n

The metaphor of boiling the ocean represents trying to do\ntoo much at once. Taking on more than you can chew adds risk and creates a\nlarger amount of work that may be too much to handle with results that take too\nlong to surface. <\/p>\n\n\n\n

Peeling the onion<\/a><\/h3>\n\n\n\n

Peeling the onion describes the process of breaking down a\nbusiness process one layer at a time, starting from the top.<\/p>\n\n\n\n

Sticker Shock<\/a><\/h3>\n\n\n\n

Sticker shock is when you present the client with the\nstatement of work you have been working on for a few weeks and they freak out\ndue to the high price tag. The client may not realize initially what average\nconsulting rates are these days or being shocked by the amount of work or the\nduration of work. Before presenting a statement of work, it is best to review\nand discuss with your internal team. There may be room for negotiation if you\nare trying to get a foothold at the client for an eventual land and expand\nstrategy. <\/p>\n\n\n\n

SOW (Statement of Work)<\/a><\/h3>\n\n\n\n

The SOW is the detailed document that defines the project\npurpose, requirements, effort, hours and cost that the client would incur if the\nproject is initiated. A signed SOW by both sides (the firm and the client) is\nwhen a project is considered \u201cInked\u201d and official.<\/p>\n\n\n\n

RFP (Request for proposal)<\/a><\/h3>\n\n\n\n

This is a document that requests agents and firms to submit\ntheir bid or statement of work for a set of initial requirements. <\/p>\n\n\n\n

Non-Disclosure Agreement (NDA)<\/a><\/h3>\n\n\n\n

A non-disclosure agreement is a legal contract between at\nleast two parties that list confidential material, knowledge, or information\nthat the parties wish to share with one another for certain purposes, but wish\nto restrict access to or by third parties. An NDA is usually created and signed\nbetween the client and consulting organization early in the sales process so\nthat both parties may discuss the problem area the client is having as well as\nthe solutions the consulting firm can offer.<\/p>\n\n\n\n

Master Services Agreement (MSA)<\/a><\/h3>\n\n\n\n

A Master Services Agreement is a contract reached between\nparties, in which the parties agree to most of the terms that will govern\nfuture transactions or future agreements.<\/p>\n\n\n\n

Are you interested in starting a career in consulting? Be sure to read the full book Jack of all Trades Master of Some; An Introduction to Consulting<\/a> available on Amazon. <\/p>\n","protected":false},"excerpt":{"rendered":"

Consulting Key Phrases 50-Thousand-Foot View The 50-thousand-foot view of an item or process is when you take a step back and only look at the high-level aspects of it. Many people will get lost in the minutia of an item or begin to jump down rabbit holes when trying to explain something, so it is […]<\/p>\n","protected":false},"author":1,"featured_media":603,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18,5],"tags":[],"class_list":["post-556","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-book","category-consulting"],"_links":{"self":[{"href":"https:\/\/jackofalltradesmasterofsome.com\/blog\/wp-json\/wp\/v2\/posts\/556","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/jackofalltradesmasterofsome.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/jackofalltradesmasterofsome.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/jackofalltradesmasterofsome.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/jackofalltradesmasterofsome.com\/blog\/wp-json\/wp\/v2\/comments?post=556"}],"version-history":[{"count":1,"href":"https:\/\/jackofalltradesmasterofsome.com\/blog\/wp-json\/wp\/v2\/posts\/556\/revisions"}],"predecessor-version":[{"id":557,"href":"https:\/\/jackofalltradesmasterofsome.com\/blog\/wp-json\/wp\/v2\/posts\/556\/revisions\/557"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/jackofalltradesmasterofsome.com\/blog\/wp-json\/wp\/v2\/media\/603"}],"wp:attachment":[{"href":"https:\/\/jackofalltradesmasterofsome.com\/blog\/wp-json\/wp\/v2\/media?parent=556"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/jackofalltradesmasterofsome.com\/blog\/wp-json\/wp\/v2\/categories?post=556"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/jackofalltradesmasterofsome.com\/blog\/wp-json\/wp\/v2\/tags?post=556"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}