Book Review: How Clients Buy

This is a book review and quotes from the book “How Clients Buy” by Tom McMakin and Doug Fletcher.

The book explains the world of consulting, how business professionals mindset work, and giving a lot of examples from high reputable consultants from high reputable firm like McKinsey and Accenture. In the past, we rely on our knowledge and experience to be successful in our career, however in consulting, it is all about building and managing relationships with clients and the people around you to climb up that business ladder.

You have to figure out a way to build a bridge from your expertise to those it can most help. You have to make it rain, or you will die in the dessert of commerce.

Now that sounds scary for someone who has no experience in management consulting. Do I have to be an extrovert, confident and sociable to be a successful consultant, or just in life in general? No.

Most of the time, we already have the skills needed to succeed and help others. You are taught how to be good at what you do, but not in how to bring in new clients. That’s the difference between a rainmaker and the rest.

Selling professional services is hard because clients have to trust us before they buy from us.

Trust is transmitted from one person to another in three ways:

1. Relationships- I know this person is a good person
2. Referral- I have a friend whom I trust and he recommends this person.
3. Reputation- I read in Bloomberg that McKinsey was voted #1 in management consulting.

Clients hire people they know, respect and trust or who come recommended by a close friend or colleague. They buy based on intangible criteria such as credibility, respect and thought leadership (just to name a few).

Design Thinking Meets Business Development

To get clients to buy, never use the term “sell”. Selling has a bad connotation to others because it is manipulative, wrong, and ineffective. The author then draws the attention to design thinking methodology in order to replace selling a service to client, into identity the need for client in that service.

Element 1: I am aware of you

The book offers these tactics on how to build awareness for your service offering

• Ask for advice- asking for advice will let the other person know what you’re truly interested in and what you’ve been focusing on.
• Publish your point of view- Social media is your friend and also the easiest way to get your name out there and let people know what you’ve been doing. People love seeing your progress, not just your finish product.
• Speak- There are multiple opportunities on meetup.com where you can pitch your ideas, network your service and learn from others. Of course, not everyone is a speaker and it is best not to pretend you are if you are not.
• Host summits- hosting an event or get together with like-minded people to expand your network, show leadership and create trust/relationship with potential clients.
• Attend conference- in an effort to maximise exposure, some firms sponsor events or even in-house events. A great example is meetup.com where there are multiple networking events you can attend hosted by passionate people to offer presentation, free learnings and tips. These are mostly free.
• Write emails- LinkedIn becomes to world best-known for connecting with professionals and you have nothing to lose reaching out to them, instead, you gain more recognition in creating awareness.

Element 2: I understand what you do

From multiple job interviews, I am telling you now to have your response ready for “Tell me about yourself”. This is your chance to shine.

Clients may have heard of you but it is possible they still have no idea what you do. Would-be clients must clearly understand exactly what you do, who you serve, and how you are unique.

There are two ways how clients understand who you are:

• You niche yourself and become known for that niche
• You articulate what you do, who you serve, and how you are unique in “elevator pitch”

For your service to be a niche, it can take time. You need to decide what you are good at and then define it either by geography, company size or another quantifier. If you say you are the world’s expert at Web Development, then you will develop a name for yourself in that market. More importantly, whenever a client needs a web developer, they will remember you.

The rule is if you can’t say you are the largest or best in a category, make your market definition smaller. Shrink the pond.

To bring it all together, here is a structure of how you can pitch your service

1. A statement of your niche
2. A statement of whom you serve
3. A statement of how you help your clients
4. A statement of how you are different

Eg. “I run a consulting practice that helps plant managers reduce accident rates by using data to help them understand what gives rise to accidents”

Element 3: I am interested

The clients are now aware of you, they understand what you do, but maybe it’s bad timing that they do not have the need for your service. In order for clients to to work with you, your service has to be relevant to them and their goals. Finally, your service must promise to have a significant impact on those goals such as revenue growth, cost reduction, business performance etc.

In order for a client to be interested in spending much time in getting to know you, you have to be perceived as being relevant to them.

What is more difficult is that clients don’t know they have a potential problem with which you can help. It is important that you know your field well so that you are able to recommend possible solution your clients may potentially have. Be mindful that your client is interested to know the impact of your service offerings.

Element 4: I respect your work

When a client respects your experience, background, and track record, they are confident you will get the job done.

What you have done for past clients is the only fact-based way to evaluate you as a partner. Everything else is words- assertions and promises without evidence.

You have your clients interested in doing work with you, but at some point, they need to be assured that you can do the work.

Here is how clients evaluate your track record and what that means for you.

• Are you relevant?
• Are you reputable?

Clients also want to know how are the people in your team. If you don’t include impressive bios, they will assume the worst and that they are going to get some bad work.

Element 5: I trust you

Trust binds communities together, enabling them to do what they cannot do as an individuals. This makes the group more powerful, protecting individuals from threats.

Trust between people in a commercial setting involves three elements:

• Competence
• Honesty
• Benevolence

As you network, here are some example proven trust-builders to keep in mind.

1. Time- trust takes time. Be transparent, you’re communicating all the time and that the client can see what’s going on.
2. Friends of friends- If time is short, you would call the people who have worked with you and who already trust you. Stay in touch when someone you have worked with as a client leaves their company.
3. Do the right thing- did you report bad news quickly? Do you keep it confidential? Did you put your client’s need first?

Element 6: I am able

Clients buy when they know who you are, know what you do, feel like what you do is relevant to their goals, think you can do the job, and trust you. But that is not enough. They need to make sure the timing is right.

Element 7: I am ready

• Be patient
• Continue to serve

“What should I do with my life?” sits at the intersection of three things: What you love to do, your gifts and what you can get paid for

According to Collins formula: a life worth living is one that sits at the intersection of wrestling with a difficult problem, using your best talents and doing work that is consequential.