Consulting taps into the expertise of the consultant’s experience. The client gains valuable insight that would normally take years and thousands sometimes millions of dollars if they were to go down the same path. Consultants usually charge a nominal fee compared to the information assets they have gained throughout the years. They have thoroughly studied the subject which entails thousands of dollars and hundreds of hours in information. They have met with industry leaders as well as “on the street" professionals so they have a good beat on what’s currently going on. They have a history even if just short history of the last cycle in the industry. Consultants may concentrate on techniques and raw resources they freely give as part of the sessions. Some consulting may only consist of one or two meetings, but if you’re taking notes they could make your next project a success.
Consultants do not give legal advice but may save you from needing it. Or they may suggest you seek it. Whereas your attorney should be cautious as to not give business advice (which happens all too often especially in real estate), your consultant has very little “power over your affairs" so conflicts are easily avoided. Seldom does a consultant run into a “conflict of interest" problem with their client but some align their resources to solve a problem. Consultants are used because it is not always black or white and they can help navigate through the grey and help you use an attorney to achieve your goals. Consultants are often the people who create turnkey packages together at a really good price. They tend to see the same mistakes and figure to come up with a product that helps thousands instead of one-on-one maybe a hundred or so.
My personal experience indicates my consulting is roughly 75% information, techniques, and resources. The other 25% is encouragement, reinforcement and follow-up.
Examples of Consulting Clients:
A seasoned Los Angeles investor sought my help with a difficult situation with an apartment building in Hollywood, Ca. The old owner is meddling with his tenants. Client question: How do I resolve this issue?
A large property management company needs to make more money off their tenants. More money for their managers and do this with little effort on their part without increasing their legal exposure. Client question: Is their a system, product or service that we can implement that can achieve our goals?
A Los Angeles family has acquired several rental properties over the years. One in particular has been neglected and they want to know the best way they can get rid of it. Client Question: How do we sell the property smoothly?
A Long Beach real estate investor loves her area. She has run a moderately successful advertising campaign but has hit a wall. After reviewing her customers she knows there is money to be made but now has limited funds to turn a profit. Client Question: Which direction should I go?
An attorney has given up on a realtor who just can’t seem to get the job done on several rental properties in San Bernardino. These require management, light rehab and ultimately somehow turning a profit. Client Question: Can several properties in the desert be packaged to make money with little involvement and management?
A Chicago investor has put a property under contract. He needs money and an exit strategy. There are some problems put he’s too busy to figure them out. He and his wife work full time, they own 2 other rental properties but time is ticking. Client question: Is this a good deal and what is the right exit strategy?
The City of Los Angeles has a landmark building that they leased to the fiber optic industry. With the neighborhood changing the property could be used as a market or such. Client Question: Are their private investors with the ability to convert this landmark building into a useful private project for the community to add value?
All were given creative techniques, resources and even my own hands-on to solve their problems and produce Win-Win-Win.
Coaching is a co-creative experience with the client and coach. They both adventure step-by-step uncovering new information and solutions. The coach creates a comfortable non-judgmental mirror to help the client see another perspective on their own situation. Some of the greatest personal achievers have and use coaches throughout their careers. The coach definitely encourages, and challenges the client to push through barriers but is careful not to define or evaluate for the client. This wonderful journey is for the client to experience.
The coach is not used to find solutions but rather bring to light the solutions already in plain view or hiding behind some fear or other barrier. The coach easily sees it and helps the client to get there on their own. Great athletes explain their experience with their coach very well. They attribute the coach, in helping them see the solution which allows them to raise the stakes on their own challenges after conquering such problems they achieve greatness in their fields. Coach are often writing inspirational books and holding seminars to help others achieve more.
My personal experience indicates my coaching is roughly the opposite of consulting, 75% encouragement, giving other point of view, reinforcement, acknowledgement, and follow-up. The other 25% is information, techniques, and resources carefully given so the client can find the real solutions.
Examples of Coaching clients:
A filmmaker wants to get his film more publicity and exposure. He some local stars and film is in the box. He hired an entertainment attorney, for $7000 who was supposed to shop it around and sell it.
A musician has just landed with a great band. They are touring the country and he wants to use this as an opportunity to launch his own career.
A retired professional athlete in organizing his media ventures. After his professional days were over he was invited on sports talk shows and various other media outlets. However, over time that fizzled and he found himself flat.
A former restaurant owner wants to concentrate on real estate. He believes he can do this but is afraid of the change of industry and the learning curve.
A successful San Fernando Valley realtor has spent years of pounding the pavement. She has fierce competition and needs to get a firm piece of the pie.
All my coaching clients are treated with a specialized respect to their needs as they move to the top of their fields. All of them have a measurable amount of success and know they want to achieve more.
Coaching and Consulting clients. Different needs but same results: moving step-by-step to the top.
I’m running an experiment on the newest information marketing website turnkey system. In this system, free modules on internet marketing that I definitely use. The system advertised the typical promises: “help you make money from home with very little money, time and offers plenty of solutions that can cover most of your knowledge deficiencies. " A current example to show anyone who is interested about home based turnkey systems: view an experiment system. See the bank statements to view how profitable or not so profitable. Follow the money at http://howtocreateonlinemillionaires.com
J. Kenneth Ezra
International Coaching Federation