$42 million in fees for one engagement

In the Andrew Program, over 214 episodes, we took our clients through the most detailed and valuable breakdown of how Andrew became a partner at a major professional services firm by rebuilding their internal innovation function. We are now going to begin releasing the next part of the program, and it is radically different. You can catch up on all 214 previous episodes on StrategyTraining.com.

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What is New in the “Innovating an Industrial Giant” Program

Basically, everything is new. This is a new program for a new stage in Andrew’s career and you will find, as he also found out, that what worked to generate a few million dollars in benefits within the company does not work to create tens of millions of dollars with external clients who do not know Andrew well, and to be brutally honest, do not trust him. The process we had used before was designed to work for the phase in Andrew’s career where he was working within his firm. That was phase one and it worked very well. When that phase ended, Andrew tried to sell the innovation program he had rolled out within his employer to external clients but he quickly faced numerous challenges.

After Phase One, Andrew tried to grow his career without our mentoring.Rival consulting and technology firms had developed similar capabilities and offerings and were shopping them around to Andrew’s target clients.Innovation has more than one definition. It means different things to different people. Andrew struggles to pin down what he, and his firm, will do for clients. They try to sell a program to find new products, revenue streams, and profit centers. Andrew does not make much headway with this.Andrew had not learned how to gain the trust of clients quickly. So, he is picking up small innovation audits and innovation strategy studies. This creates several problems. It takes a long time to incrementally earn the trust of clients to eventually secure an engagement in excess of $10 million. Andrew does know how to do this. Those small studies and audits did not train his team to do the type of innovation work they wanted to do. Andrew, like most consultants, hoped that small studies lead to large programs. They rarely do. Worse, studies on innovation are dominated by firms like McKinsey and BCG, who excel at them. So Andrew keeps going up against firms for work where his team is not the first choice.Andrew struggles to use the full assets of his firm. He does not know how to organize the different parts of the firm to do something McKinsey or BCG cannot do.Andrew forgets why he was successful in that first phase and struggles to replicate the success.

After struggling for about a year, and with his Phase One success firmly behind him, Andrew began working with us again.

Differences in This Program

The first program was all audio. Subscribers love that program because it is packed with details, insights, and even business case calculations. We have made big improvements to this program.

Michael and Kris worked on this part of the mentoring. Michael led the mentoring and led the program, while they both worked on the strategy used to mentor Andrew and the strategy he would use to reboot his career.We will be using video to explain key parts of the process and strategy we used. Where audio works better, we will use that. So, it will be a combination.At the end of each part of the program, we will have some tips/guides/questions you can use to implement the most important parts of the program.We will focus on the principles. So if you are not a consultant or not in innovation, you will find the material beneficial.Any slides we created for this program will be loaded into The Strategy Control Room, Advanced Level.

Ten Pivotal Moments in the Program That Ultimately Lead to $42 Million in Fees 

#1 We teach Andrew a process to sell very large studies by significantly cutting the time to build trust with senior clients and increasing the number of senior clients he could reach. (This is different from the approach we teach in The Consulting Sales Rainmaker Program (CSRP). CSRP is a better process especially as you become more senior. The process we used for Andrew in this program is one where we get faster results and bigger sales, but in the long term, he would need to adopt the CSRP approach. Since we need results quickly and he has time to learn CSRP later, we used the new approach.)

#2 We use the whole of the firm to compete for clients, in a way rivals cannot match, and for the few that can, they struggle to do so.

#3 We develop a new definition for innovation. This allows us to identify a unique category of clients.

#4 We identify the problem in innovating that is unique to this class of clients.

#5 Andrew has an “enemy” who is a very senior partner. We identify him, understand how he is sabotaging Andrew’s career, and develop a plan to work around him.

#6 Developing streams of income from the project fees that are recurring and semi-passive. That, in itself, is a form of business model innovation.

#7 Teaching Andrew how to sell where he does less of the work and voluntarily gives away sales credit, which, counter-intuitively, increases the sales credited to him.

#8 Closing the $42 million single-fee contract. We break down the contract and explain the strategy and what is unhealthy and healthy revenue.

#9 Andrew’s promotion to senior partner.

#10 Managing two major priorities for the firm at the same time.

Due to client confidentiality, as always, we have altered some of the details.