What I Learned from Ignite Boise

What did I learn last night at Ignite Boise? We're going to be just fine.

Despite the bad economic news and decline in business prosperity all around us if we go local, recharge the batteries and gear-up for the eventual upturn in our economy, we'll come out stronger in the end.  In fact, this is an opportunity to change the way we do things.  The old ways of doing business will die and new industries will emerge.

I'm still somewhat on a high from last night's event.  It was exciting to be a part of an energizing gathering that put on display some the brightest and most talented people the Treasure Valley has to offer.  With TVCNet being a sponsor of the event, I even had the opportunity to speak for a couple minutes about TVCNet and give my thoughts on what Ignite Boise means to our community (my thanks to the organizers for the opportunity).

To recap, here were some of the topics that caught my attention and how I think they apply to consulting and the independent professional to today's business climate:

• Business Lessons Learned from Star Wars - Are you going to be Darth Vader, ruthless and unforgiving, or are you going to be Obi-Wan Kenobi, a wise mentor? It's how you decide to interact with others and the path you choose in life that will determine your success.  I'd like to think most consultants act in the spirit of Obi-Wan, being a mentor and teacher to their clients.  Some unfortunately step into a situation like Darth Vader, powerful and knowledgeable in the Force, but using what they have for the wrong reasons.
• Creativity and Play - As we grow older we tend to lose the love and passion we had for play and creativity as a child.  Play and creativity is what sparks imagination.  Imagination leads to innovation.  Give in to play and creativity in spite of looking like a fool. You'll be surprised that you can reward yourself for having the courage to give in to your inner child.  As consultants, we sometimes tend to be a little too serious.  Let's lighten up a bit.  It might do us some good.
• Your Digital Legacy - Think about this: our grandparents and parent recorded their life through photos, letters and postcards.  What do we have today?  Digital photos, e-mail, Facebook, Twitter, the list goes on and on.  How will the next generation be able to look back upon our lives?  It's very eye-opening.  The amazing thing about the age in which we live in is that we have expanded the potential to record more aspects about our lives than ever before.  Imagine as consultants how we can record all we know about our area of expertise.  The potential is unlimited in this day and age.
• The Explosion of the Internet Age - The Internet Age has transformed how we access and consume content.  Media falls into one of two camps; the incumbents which are newspapers, radio and television and the newcumbants which have taken the incumbents online via websites, social networking and video sites like YouTube.  What was learned is that if you change the user experience slightly it has the potential to change things tremendously.  As a consultant, are you leveraging media as an incumbent or a newcumbent?  Think about it, because it is evident with the collapse of newspapers and traditional media that the winds of change are tending to favor the newcumbents.
• The Myths of Idaho - My thoughts on this presentation are not so much centered on Idaho, but that in general myths have consequences and if we make our decsions based on myth there are consequences.  As a consultant and independent professional, are you making your decisions based on myth?  Are you clients operating based on myth.  The solution is to stop, even for a moment, and seek to understand.  Get the facts and make sound decisions based on truth, not myth.
• It's Not a Recession, It's a Revolution - This was one of the best presentations of the evening.  As I mentioned earlier, even though we are bombarded daily with bad economic news and we see businesses declining and failing around us, we are in the midst of change.  The old ways of doing business are going to be replaced with new ways to do business.  It's not about jobs, it's about companies.  The seeds of revolution will being with start-ups and small business.  As a consultant, what are you doing to support this?
  

The quality of presentations last night will, in my opinion, create a firestorm for the next Ignite Boise.  I can only imagine what kind of presentations we will have and I'm looking forward to attending and getting involved.  TVCNet will definitely step up once again and sponsor the next event.

Consulting In the Decline of Abundance

As Americans, over the course of the last two decades we have seen unprecedented growth and abundance in business and our standard of living.  We can point to many reasons for this growth and success, but today that very growth is on a decline.  It's clear our country's economy (and the global economy for that matter) is in turmoil, but despite this massive pull back is there is a silver lining?  Rather than looking outside our neighborhoods, cities and states for solutions, maybe all we need is right here within reach.

The Wall Street Journal published an opinion piece by Peggy Noonan a couple weeks ago where she reminisced about the age of abundance we lived in from the 80's, 90's and on through to about a year ago.  When living in an abundant world, all things "big" tend to get the most attention (and the money).  Her article culminated in a summary that described the state of our world today - pessimism.  There is a genuine lack of faith in our economy, our leaders, our culture and our institutions (those that are big - or once big).  The dynamic sense of abundance we so enjoyed has suffered a severe blow, but despite all this it is the spirit of abundance that lives on in the hearts and minds of entrepreneurs - like consultants, for example.  The implicit trust we once had in all things big may be gone, but the future, according to Ms. Noonan, is a shift toward going local.  On a local level, it's hard to be affected by pessimism when focus is placed on the dynamism of the people living and working where you too live and work.

The shift to a local approach in business is really an effort to simplify.  If you reflect upon your business and see a local approach potentially beneficial to you, now is a good time to examine your business and marketing plans once again.  If I may be so bold as to borrow from a local colleague, Tac Anderson at TechBoise, treat this evaluation as if you were abandoning a job search and starting a new business from the ground up.  This fresh perspective may yield surprising results and you accomplish it by taking a simplistic view, cutting out all the noise and obstacles thinking on a global level may bring.

This is not to say that working on a global scale is bad.  Some day soon you may be able to step back on the global stage with your business, but if you are feeling the effects of economic turmoil, perhaps coming back to the safehaven of your local community is a good way to reset and recharge so you are ready for the upswing once things pick up.  One thing is for certain. The economy will rebound. When it will rebound is hard to determine so businesses must do what they can to survive.  I think consultants are in the best position to thrive in this period of economic uncertainty.  While many businesses are letting staff go and even closing, those hanging on are surviving by leaning heavily on independent professionals to fill the gaps.  While they may not be able to hire full-time staff, business needs still exist and they must be addressed.  The key, as consultants, is that we must make ourselves visible and demonstrating our value.  Whether in times of abundance or decline, we can be successful.

Consultant's Link Round-Up

Over the weekend I ran across a couple interesting links in my feed reader:

• More on What Freelancers Need to Know About Their Finances - this is a follow up to a previous post where I linked to advice on what freelancers (consultants) should do when preparing their taxes for 2008.  There are many deductions you can take advantage of, but don't forget other things that are important to your personal well-being such as providing yourself with adequate health insurance and your retirement. Just because you don't work for an employer doesn't mean you can can't create a benefits package for yourself. This post provides some good advice on this topic.
• The Four Flavors of "No" and How to Deal With Them - for many consultants, this is probably their biggest obstacle to growing and sustaining their business.  Nobody likes to be told "No", but this post breaks down rejection into four categories and how to address them.

I always enjoy finding helpful articles on consulting that I like to share with you.  If you have some you have found recently, please feel free to share them here.

Myths of Consulting That Are Actually True

A post at Freelance Folder was recently brought to my attention -

10 Things You’ve Heard About Freelancing That Are Actually True

While I agree with most of it, these dispelled myths of freelancing (or consulting) come after a result of hard work and sacrifice. I always tell people that making the move to consulting should never be taken lightly or pursued with false promises.

After reviewing the list of 10 things, I'd be interested hearing about your own experiences and whether or not you think these things are in fact true.

10 Tax Deductions Freelancers (Consultants) Can Make

Consultants are typically in a different boat when it comes to taxes. If you are in the process of preparing your taxes for 2008, here are 10 tax deductions freelancers can make. Any deduction you can find is worth pursuing.

Running Low on Value Currency

A few days ago I was exchanging e-mails with a TVCNet member and I said something that stuck with me over the course of this past weekend. People’s “value currency” is running low. Not said, but worthy of mention, I can also add that people’s “trust currency” is running low too.

In troubled economic times, like the one we are currently in, people are going to be very mindful on who, what, where, when and how they spend their disposable income. Their spending decisions weigh more heavily on the side of value. If they part with their money, can they trust the other party that they have their best interest at heart? The same holds true for companies trying to make it through this downturn in the economy. Many have to make tough decisions just so they can continue to stay in business. I know some consultants, despite having excellent working relationships with their clients, being turned down for additional contracts and work simply because the client must focus their resources elsewhere just to stay afloat.

So, where does this leave us – the consultant’s of the Treasure Valley? I’m not here to spread doom and gloom. I’m here to be realistic, yet optimistic. While it will be difficult for us this year and possibly into next, I’m here to say that all is not lost if you focus on the value of what you provide and build relationships based on trust with your clients and your colleagues. Over the years I learned one crucial rule of business:

People do business with others that they like, know and trust.

Add to that adage “value” – as in value what is being provided to them.

I believe that despite a down economy, we as consultants have a greater opportunity to redefine ourselves and strive to create better value in the services we provide. As we all know, there are good consultants and there are not-so-good consultants (trying to remain positive here, folks). The consultants who don’t create value will likely move out of the field thus reducing the “noise” that makes it difficult for clients to discern one consultant from the next. If you create value in your services and can communicate it clearly, you have a better chance of being successful in a down economy.

How Do I Set My Consulting Fees?

When I talk with people who are just starting out in consulting, one of the more common questions I am asked is, “How do I set my rates?”, or “How do I figure out how much to charge for my services?”

The rate you wish to charge is based on two fundamental things. First, how much money do you want to make? Be realistic about this, especially when starting out. The best way to figure out this aspect of what you intend to charge for your services is to research what someone equivalent to your consulting services, working in a company as a full-time employee, would make in a yearly salary. For instance, the equivalent of my consulting services at PinPoint Performance Solutions in a company as a full-time employee would be as a performance improvement specialist. The last time I researched the average salary of a performance improvement specialist, I discovered it was around $60,000 per year plus benefits. Second, you simply need to know what your overhead costs to run your business will be. An educated guess will work to begin with, but track your expenses so you can get an accurate account in the future and apply it to subsequent rate calculations.

These two fundamental aspects will set the foundation for calculating your rate. Your outcome will be two different rates you can then quote to clients - hourly and daily. Ideally, you want to charge a daily rate or project fee. The reasons for this can be a post on its own and we'll save that for another day. If you feel confused, don't be. Here's a great post on how to calculate your consulting fee using simple a simple formula. In addition, I have pulled together these other resources to help you determine your consulting fees:

• Dave Taylor – How Do I Figure Out How Much to Charge for My Services?
• Guerrilla Consulting – Hourly Rates: Confusing Effort with Results
• Guerrilla Consulting – Pricing Redux: How to Dump Hourly Rates

Cavalcade of Consultants, or the Next TVCNet Meeting

In my last post I talked about how during economic downturns, and after people become unemployed, they often turn to consulting either as a new career choice or something to fill in the time between jobs. Whether you are making a career change or doing what you can to earn income between full-time jobs, it must be taken seriously and you must put your best foot forward to create a professional image. Otherwise, it will be hard for a clients to take you seriously.

I say this because it’s easy to call yourself a consultant. Many people do in times like these if they find themselves unemployed, but it has unfortunately become part of a punch line to a joke.

(you) “I’m a consultant.”
(them) “Oh, you mean you’re unemployed.”

Changing the public perception of consulting has been one of the primary missions of Treasure Valley Consultants’ Network (TVCNet) since it was founded in October, 2006. In February, TVCNet will be hosting an event that will re-introduce our organization to the Boise business community. Many people know of us, but we felt it was time to get the word out about who we are and who we serve once again because the current economic climate call for it.

For the upcoming event, here are our two objectives:

1. Current and new consultants – come see how TVCNet can support you. Whether you are building your consulting business or have been in business for years, see how we facilitate networking and sharing best practices in the profession of consulting.
2. Business owners, managers, executives – business needs still exist in a down economy. Although you may not be able to hire full-time staff to meet those needs, consultants can help fill the gap and provide specialized knowledge and expertise to help your business remain competitive and sustainable. Come see how TVCNet can be a one-stop resource to match you up with business professionals that can help solve your current business problems.
   

Save the date of Thursday, Feburary 19th at 11:30 a.m. on your calendar. We will hold our event in the Seminar Room of VengaWorks in Meridian on West Overland Road (map).

Top Posts of 2008

According to our analytics, here are the top three TVCNet Blog Posts for 2008:

• Marketing a Consulting Business: A Recap of the January TVCNet Meeting
• 13 Mistakes Consultants Make and How to Avoid Them
• Old Pro or Newbie: Avoid These 5 Stupid Mistakes in Consulting

From the looks of things, readers were very interested in how to market their consulting business and how to avoid mistakes.  Be assured in 2009 we will continue to cover these and other topics related to consulting in the Treasure Valley.

Four Things Every Consultant Must Do To Prepare For 2009

Regular readers of the TVCNet Blog know that I'm a fan of another blog called Freelance Switch.  Martha Retallick, a freelance designer and photographer from Tucson, contributed four posts to Freelance Switch that outlined crucial steps you should take in the final days of the 2008 calendar year to prepare for a prosperous and productive 2009.

• Planning for Next Year's Tax Bill - Don't get a nasty surprise waiting for you this April.  Set aside some funds and sit down with an accountant who can help you put together a plan to lower your tax burden.
  
• Budgeting for Next Year - This is goal setting with numbers.  Know how much your expenses are and what you plan to spend money on in the coming year.  At the same time plan for how much money you intend to make.
  
• Planning for Next Year: Client Acquisition - How do you intend to get the clients to make the money you plan to earn.
• Planning for Next Year: Your Professional Development Plan - What do you plan to do for career enhancement or to learn new skills you can apply back to your business.

The tips provided easily apply to any consulting practice or small business.  Get prepared and get ready. 2009 is just around the corner!

Don't Wait to Be Rescued, Be Your Own Rescue Plan

I'm happy Tac Anderson at TechBoise wrote this post considering the current economic climate we're in.

I've been thinking recently how taking action now will only set you up for success in the future. Despite the fact many businesses are slowing down or going out of business all together, people with specialized knowledge and expertise have more of an opportunity to demonstrate the value of their services. Business leaders are emphasizing value these days because they know whatever they spend on now must last them longer. In addition, they don't want to commit long-term to an employee paying salaries and benefits.  Consultants are becoming more of an attractive solution to current business problems.  The needs still exist and businesses are still operating even though the media is reporting doom and gloom.

What does this mean for you?  It depends if you are employed by a company or if you are an independent consultant.

If you are employed by a company, I wouldn't drop everything to become a consultant.  Regardless if the economy was good, becoming a consultant is not something that should be taken lightly.  You need to slowly move yourself away from the steady paycheck, building a roster of clients, before you cut the safety line entirely.  People wanting to move toward becoming a consultant should do the following in today's economy:

• Do your current job and do it well.  Find ways to make yourself indespensible and add value.  Many people are out of a job and the last think you want is to become one of them.
• Increase your skills - take classes or get training in areas you would like to improve in.
• Network with other professionals as much as you can.
• Start with small freelance projects to build a portfolio.
• Build a managable roster of clients that you can feel confident who will provide you with a steady stream of profitable projects.

When the time is right, you'll know when to break out on your own. 

If you are currently a consultant, your strategy is slightly different:

• Look to your current client roster and focus in on specific needs or problems they are facing. How can you help solve them?
• Increase your skills - find new areas you can get training in and reposition your newly acquired skills to help your clients (or new clients for that matter)
• Network, network, network!

Whether in an up economy or a down economy, clients are not going to give you work. You have to go out and earn it. While Tac's post is focused on individuals looking for a job and urging them instead to take action to start their own businesses, the same holds true for consultants. However, I urge caution. We're in the profession of solving client's problems. It does not matter if you are employed by a company or you are your own company and CEO.  Set yourself up for success by demonstrating your worth and value to your employer and your clients.

You Can't Win If You Don't Show Up

Shortly before Thanksgiving I saw a news story about how Nissan, the number 3 Japanese car maker, decided to pull out of the Detroit and Chicago auto shows citing a tough economy and lack of innovation in new products to present. When I saw this story, I wondered what kind of message does this send to their customers and their competitors?

Early in the week, news broke that our economy is in a recession and we have been so since December of last year. It didn't take a Mensa member to figure this out. Most of us could tell just by the way other businesses have been acting especially when it comes to the business we conduct with others in our own consulting practices.

I'm sure most of you have heard this excuse, or some variation, over the last year.

"We're not going to do anything now or in the foreseeable future until things pick up."

In other words, clients are telling you that they don't want to spend money with you despite the apparent need for your services. You know it and they know it, but they would rather be like Nissan - holding back on the way they do business until things get better, whenever that happens. Does that make sense to you? Would you stop or hold back on what you have been doing that made you successful now and in the past or should your reposition yourself under the current conditions and play then hand that has been dealt to you, work harder and look for new opportunities?

Before you accept "no" for an answer, talk once again to them about the need. It doesn't go away despite the economy. If you believe all of the news reports you would think that cars have stopped running, planes are grounded and factories have ground to a halt. Business is still being conducted because there are needs that require fulfillment. More importantly, your client's competitors are still doing business. It's no different for your clients (unless they really want to go out of business) and the focus should not be on the money being spent, but the value it brings and what its ultimate potential is.

Nissan is wrong to pull out of the Detroit and Chicago auto shows. I know the auto industry is a tough business to be in these days, but if they don't show they send a message to their customers and their competitors that they are not worthy of their position in the marketplace and provide little value or benefit to their consumers. Rather than be a no-show, they should showcase their current models and spotlight the value of their products. Show the public they are strong and dedicated to their products.

Think about this scenario in regard to your business. Do you think you will be in business much longer if you hold back and act like Nissan? Show your clients how you fulfill a specific needs and provide value. Look for new opportunities like Mike Fisch, TVCNet member, illustrated in his recent blog post. It's more important now than ever before. In a tough economy, this is one way you can stand out by showing your commitment to the quality of your work and a dedication to your craft.

Recap of November TVCNet Meeting: What Sustainability Can Do for Your Business and Your Clients

I've had a few days to reflect on the recent TVCNet meeting where John Bernardo of Sustainable Innovations presented on What Sustainability Can Do for Your Business and Your Clients to a group of attendees at The WaterCooler in downtown Boise.  I'm still excited about all I learned from John and believe sustainability will become more and more prevalent in the way we do business in the years to come.

I was pleased to host John for this meeting.  John has been a loyal supporter of TVCNet as a member since he joined earlier this year.  It's been my objective to have the membership to use the monthly meetings as a platform to spotlight their consulting businesses and services to the business community.  John went above and beyond in his presentation explaining what sustainability is and how it impacts business not only in Idaho, but around the world.  I believe his company, Sustainable Innovations, will be a positive change agent in the business community as we move forward in these uncertain economic times.

Quite simply, sustainability is about making the best use of resources to meet human and business needs while at the same time preserving the environment so needs can be met not only in the present, but in the future as well.  John was very clear at the start of his presentation to say that he doesn't consider himself and environmentalist although applying sustainability to business processes and operations produces a "green" benefit.  Bottom line, it is a smart way to do business.

Other points of discussion during John's presentation:

• External factors of an environmental nature will impact business more than ever before.  Regulations and international agreements will dictate what can and cannot be done.
• External factors altering the way we do business should not be looked at as barriers.  They should be looked at as opportunities.  What may be seen as a waste or by-product in a company's operations can actually be a benefit or resource to other areas of the business.
• Implementing sustainability enhances the bottom line in many ways.  Specifically, the younger generation entering the workforce are concerned about a company's impact globally.  Sustainability is a way to demonstrate a commitment not only to employees, but to shareholders as well, that they are thinking globally.  Retaining employees and reducing turnover as a result of sustainability efforts is a positive impact on the bottom line.

I understand that this topic can be controversial and a subject of heated debate.  Personally, I'm all for clean air, clean water and alternative energy only if it is driven by the marketplace and not mandated by bureaucracies.  To me, sustainability is the way.  It is hard to ignore that we are in the midst of a global economy where changes in one part of the world have a ripple effect on the opposite side of the globe.  As consultants, regardless of our field of expertise, we can implement sustainable solutions in the services we provide.  First, is to find a way to reduce waste.  Look for opportunities in the waste or find ways to use the waste in innovative ways.  Second, is to think about the impact of your decisions and actions and how they may play out 10, 20, maybe 50 years from now. 

Sustainability does have a "green" advantage, but above all it ensures that business will be around for future generations to benefit from.

Sustainability in the Treasure Valley

I have to admit that before this year I didn't know what sustainability was.  Sustainability is about making the best use of resources to meet human needs while at the same time preserving the environment so needs can be met not only in the present, but in the future as well.

More and more businesses have embraced this philosophy by "going green" as of late.  Whether or not you are behind the green movement, it's hard to deny that some of its benefits and outcomes are reduced waste and increased energy efficiency.  Two such businesses in the Treasure Valley are helping other businesses create sustainability in their operations.

Sustainable Innovations
First, is TVCNet member and consultant John Bernardo of Sustainable Innovations. John is formerly the Resource Conservation / Regulatory Compliance Manager for Alberstons, Inc. His Boise-based consulting company provides comprehensive analysis, implementation evaluation and ongoing support for introducing sustainable operations, processes and technologies into business cultures.  Local successes include St. Luke's RMC, helping the hospital reduce waste to landfill amounts by 30% while working with employees to institute departmental recycling programs to meet their needs.

If you want to learn more, John will be presenting a topic on sustainability with a presentation titled What Sustainability Can Do for Your Business and Your Clients at the next TVCNet meeting this Thursday starting at 11:30 a.m. The presentation will be held at The WaterCooler in downtown Boise.

VengaWorks
VengaWorks is a new venture in Meridian that walks the talk when it comes to sustainability.  The VengaWorks facility is a green facility offering office space, equipment and services to businesses looking to reduce overhead.  I had the privilege of taking a tour of the facility led by Andrew Piron, Regional Vice President.  Andrew showed me how the facility is able to cut costs and pass the savings on to the tenants simply by the way the building was constructed using sustainable materials and an energy efficient HVAC system.  Above all, the facility is flexible to the needs of the tenants and can grow and expand according to their growth.

VengaWorks is the perfect facility for local area consultants who offer business-to-business services looking to estabish an office in a business setting.  I advise any consultant in the area who is looking for a change of scenery from their current office configuration to contact Andrew through the VengaWorks website to see how he can help you.  You'll be pleasantly surprised how easy and economical it can be to set up an office at VengaWorks.


So there you have it - two businesses in the Treasure Valley promoting sustainability.  It's exciting to see such works in the Treasure Valley and it is especially exciting to see one of our members leading the way.

Guest Post: Distinguish Between Feature and Benefit

Editor's Note: TVCNet member Mike Fisch of Apropos has written a post for his blog about the difference between a feature and benefit. Because of its relevance to consulting in the process of marketing our products and services, we have reposted it here. Enjoy!

It's important to distinguish between features and benefits, because customers care much more about benefits. In fact, benefits are really what sell a product.

A feature is a charactesristic of a product or service, and a benefit is the need or desire it satisfies for a customer.

To illustrate, let me ask you a question. What is the last thing you purchased and why? Your reason why may point to a feature or benefit. But ask yourself why once more, and you will surely be stating a benefit.

The last thing I purchased was a "sunrise muffin" at Big City Coffee while driving home after picking up my 15-month-old daughter at daycare. The muffin has raisins, coconut and sunflower seeds and appears to be made of whole wheat. It is moderately sweet. Those are all features. So why did I buy it? Because I was hungry and the muffin tastes good and is reasonably healthy. I also fed some to my daughter so she would be happy and not fussy while riding in the back seat. So the benefits are (1) satisfy hunger, (2) enjoy taste, (3) be healthy, (4) make baby happy and (4) enjoy peace and quiet in the car. All for $1.95!

The features focus on the muffin, while the benefits focus on me.

The best marketing is about the customer, not necessarily the product, not ultimately. It’s about them. Because the goal of marketing is to influence people to buy a product or service. And why do people buy? To satisfy a felt need or desire. This desire drives the purchase. The product is a means to satisfy it. So the purpose of marketing is to make a connection between the customer’s desire, whatever it may be, and your product. This is why it is so important to emphasize benefits - they are your customers' needs and desires.

The Rules of Hourly Billing

I was just notified of a great post on the Ten Rules About Hourly Billing. It's written by Matt Homann, a lawyer by trade.

Matt's list is a great example why I, as a consultant, avoid at all costs doing a project by the hour. It's about the value you provide to the client and if you can put a price on your services that both you and the client feel is fair, you don't have to pull teeth to be compensated for your efforts.

Recap of October TVCNet Meeting: Identity Theft and Business Liability

In these times of economic uncertainty, most of us think very little of protecting our identities.  Our attentions are drawn elsewhere and we overlook the fact that our identity is something of value to someone else who may not use it with the best intentions.  Even if we are conscious of protecting our identities by making sure "the bad guys" do not have access to our bank accounts or personal records, there is much more to an identity than personal / business finances or your social security number.

Aspen Morrow of Aspen Consulting & Associates spoke to the members and guests of TVCNet in a meeting on October 23rd about Identity Theft and Business Liability. According to Aspen, in regards to the individual, it doesn't matter how bad your background is. Your identity has value and is worth money on the black market.  If you believe that your identity is of very little value to an ID thief you are sadly mistaken.

Over half of all ID theft occurs in the workplace and 70% of that theft is by low-tech means.  It's as simple as someone stealing a file or copying personal information of an unsuspecting victim.  In all, there are five common types of ID theft:

1. Driver's license numbers
2. Social Security numbers
3. Medical records
4. Character or criminal records
5. Financial

25% of all ID theft is financial, but according to Aspen, that can easily be corrected.  The worst kind of ID theft is the one that damages a person's character possibly resulting in a false criminal record.  So how does this impact consultants?  In our profession, character is everything and if your character is damaged in any way it can have a significant financial impact on you and your career.

ID theft has the potential to be very costly to you and your consulting business in terms of time and money if you are ever a victim.  The best advice Aspen gave during her presentation - if you suspect ID theft, have a background check ran on yourself.  The sooner you correct any discrepancies, the easier it is to correct them.

How a TVCNet Member Makes His Business Profitable

He's a Boise restaurateur who helps troubled eateries turn around and he's also the latest member of Treasure Valley Consultant's Network. Jim Balis is the owner of Complete Asset Management Company (CAMCo), The Restaurant Management Group and LuLu's, a New York-style pizzeria near the base of Bogus Basin Road.

The lesson learned from Jim during these troubled economic time is to pay close attention to where your money is going. In our businesses, we sometimes overlook things that seem minor on the surface but in reality they can be a slow leak that is costing you money. Can you be more measured in your products and services? If you find areas of waste, eliminate them!

You don't have to sacrifice quality to save money, and the money you do save can be put toward more important things that will have a greater impact.

TVCNet Presents Identity Theft and Business Liability

Our next TVCNet meeting will feature Identity Theft and Business Liability, a presentation by Aspen Morrow of Aspen Consulting & Associates on Thursday, October 23rd from 11:30 a.m. to 1:00 p.m. at The WaterCooler located at 1401 W. Idaho St. in downtown Boise. This event is FREE for TVCNet members; $5 for non-members.

In light of the current economic climate in our nation, this is a very timely event. Business owners obviously have a lot on their minds these days, and compliance issues (especially when it comes to identity theft) may not be high on that list.  However, many new identity theft laws have been passed, and some, such as the Red Flag Rules, have a November 1, 2008 compliance deadline. 

Identity theft costs business owners $48 billion a year.  In some identity theft cases, businesses are held liable for not protecting their customers’ and employees’ information.  Laws passed to help protect customers and businesses are now being tested in the courts as our already litigious society goes after companies that lost information.

At this meeting you will learn how to prevent that money from coming out of your bottom line, and what you can do to reduce your liability and establish reasonable measures to protect your business and your clients.

Aspen Morrow is a Certified Identity Theft Risk Management Specialist and president of Aspen Consulting & Associates, a full-service agency that takes on emergency identity theft cases, teaches seminars, writes community articles, and offers identity theft compliance consulting with individuals, employees and businesses.

Productivity for Consultants - The Inbox Zero Philosophy

Last week I learned a very handy way to manage the flood of e-mail that I'm sure you too experience on a daily basis. It's called Inbox Zero and there is a collection of articles on this topic at the site 43 Folders.

The method behind Inbox Zero seems rather familiar to me and perhaps it was inspired by a book I read eight or nine years ago called Getting Things Done by David Allen. It's a great book if you are feeling overwhelmed by the amount of work and "stuff" in your life and I highly recommend it to help clear the clutter in your world.

The principles behind Inbox Zero are simple. In your favorite e-mail client, create three folders in your inbox:

• Action
• Later
• Archive

When you download your e-mail to your e-mail client, quickly scan it and ruthlessly delete messages you know are junk.  Hopefully you have a good spam filter to help weed out the junk.  Next, move the legitimate messages to one of the three appropriate folders.  Here are the guidelines for filing your e-mail:

• Action - tasks / actions that will take less than 2 minutes to complete.
• Later - tasks / actions that will take more than 2 minutes to complete or tasks / actions you are awaiting further information on or need to follow-up on later.
• Archive - messages you want to save for later reference.
  

Periodically make some time to go through your Action and Later folders.  Eventually you will eliminate all messages in those folders by either completing the tasks or moving them to the Archive folder where you'll reference them later, if needed.  Follow the rule of thumb that all e-mail is a call to action and it is up to you to determine to whether it is worth your time to accommodate that call to action.

I've been doing this for a week now and have been pleased with the results.  It's a wonderful feeling to see an e-mail inbox free of messages.  As consultants, we need to focus on billable hours.  Spending your time going through e-mail is not productive and doesn't bring in income.  By following this philosophy, you can quickly get back to the work that matters, the work that generates income.