The Corporate Escapee Goes Down Under: A Discussion With Michael Haynes About Professional Services as Exit Strategy

Summary
In this episode, Michael Haynes shares insights and guidance on how corporate escapees can build their own B2B professional service practice. He emphasizes the importance of expertise and the need to deliver advice, insights, and recommendations to clients. Haynes highlights the significance of listening and researching the market to understand target industries, customers, and decision-makers. He recommends becoming visible in the target market by leveraging professional associations and collaborating with thought leaders. Additionally, Haynes discusses the process of finding the first customer and suggests testing strategies before fully committing. In this conversation, Michael Haynes shares insights on building a professional services business. He emphasizes the importance of understanding your focus and strengths, as well as determining your target market. Building a strong network and referral engine is crucial for acquiring clients. Michael also highlights the significance of creating a content strategy and being visible where your target audience seeks information. Transitioning to sales involves understanding the challenges and priorities of your prospects and building a mutual action plan. Micro events, such as roundtables and forums, can be effective in engaging with prospects and providing value. Finally, Michael emphasizes the need for clarity and a buyer-driven approach when building and growing a professional services practice.

Takeaways

• Corporate escapees have massive opportunities to build their own B2B professional service practice.
• Delivering advice, insights, and recommendations based on expertise is crucial in the B2B professional services industry.
• Listening and researching the market helps in understanding target industries, customers, and decision-makers.
• Becoming visible in the target market through professional associations and collaborations with thought leaders is essential for success.
• Testing strategies before fully committing can help corporate escapees find their first customer and refine their approach. Understand your strengths and determine your focus in order to build a successful professional services business.
• Build a strong network and referral engine to acquire clients.
• Create a content strategy and be visible where your target audience seeks information.
• Transition to sales by understanding the challenges and priorities of your prospects and building a mutual action plan.
• Engage with prospects through micro events, such as roundtables and forums, to provide value and unlock conversations.
• Maintain clarity and a buyer-driven approach when building and growing a professional services practice.

Chapters

00:00 Introduction and Background

00:27 Opportunities for Corporate Escapees

03:04 The Importance of Expertise in B2B Professional Services

04:00 First Steps for Building a Professional Service Business

06:06 The AIR Framework: Advice, Insights, and Recommendations

07:39 Listening and Researching the Market

11:21 Finding the Sweet Spot and Targeting Customers

18:06 Next Steps: Visibility and Becoming Referable

20:36 Becoming Visible in the Target Market

21:04 Finding the First Customer and Testing Strategies

21:18 Understanding Your Focus

23:34 Building Your Network and Referral Engine

26:27 Creating a Content Strategy

29:15 Transitioning to Sales and Discovery Meetings

32:44 Micro Events and Engagement

41:06 Considering the Path of Building a Professional Services Business