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530. Soren Kaplan, Scaling Your Consulting Business

530. Soren Kaplan, Scaling Your Consulting Business

FromUnleashed - How to Thrive as an Independent Professional


530. Soren Kaplan, Scaling Your Consulting Business

FromUnleashed - How to Thrive as an Independent Professional

ratings:
Length:
42 minutes
Released:
Aug 28, 2023
Format:
Podcast episode

Description

Show Notes: Soren Kaplan, author of Experiential Intelligence: Harnessing the power of experience for personal and business breakthroughs, talks about his book, his experience as a consultant, and the software company he founded, Praxie.com, to digitize his consulting processes and help other consultants and Fortune 1000 clients scale their processes.  Soren decided to scale up his experience in executive education, leadership development, and innovation and strategy work, which led him to create the no-code software platform he uses to digitize his own consulting work processes and create annuity revenue streams.  SaaS as a Service Business Model for Consultants  Soren's team has done extensive work in work process digitization, and they realized that the best scalable way to do this is to create a platform that anyone can use to do it themselves or help others do it in a fast and easy way using no-code software. Soren talks about the first application and use case and how it helps consultants to access templates and  processes, and streamline workflow. Soren's innovation consulting experience led him to create a platform for running the innovation process for a large steel manufacturing company. He shares how the team has their customized process digitized in a workflow that their entire team can now use in a repeatable way. He explains that the software is a SaaS software as a service business model, combining consulting with work process design. Soren explains the innovation process: idea generation, validation, and implementation. The process involves evaluating the different dimensions of the first phase, selecting which ideas to move forward, and then evaluating the results. The process then moves on to validation, where the user evaluates the assumptions and moves them to the next phase. The digitized workflow allows individuals or teams to view their entire portfolio as a dashboard, showing pipeline, portfolio maps, and financials. Teams can work through their own product ideas and provide access to the dashboard for reporting. The application also includes tools for execution and dashboard elements for reporting.  A Branded SaaS App for Consultants Soren talks about the low cost of the digital application, as it digitizes hundreds of tools and templates. For example, a PowerPoint or Excel file can be converted into an interactive template online, making it more cost-effective for clients. The sales process is the engagement process, with the cost depending on the level of customization. The Praxie tool is similar to SaaS software, with a monthly fee per user. He explains how a consultant can use the platform to develop their own business process software, and how the pricing model is adapted to the user and the customization. The business model is being built with tools which allow consultants to build their own branded processes within it. Soren explains that the platform is built in the Google Cloud, which allows for easy security and billing. The platform also provides an annual fee for consulting clients, which includes technology and consultative support. The revenue share is determined by the number of users and the different apps available. Consultants can quickly build their own SaaS application for their branded processes and tools, and sell them. This becomes an ongoing, billable opportunity, making it profitable for the consultant.  Soren believes that having a software platform or application that supports best practices with clients is an opportunity to sustain the relationship. He suggests checking in quarterly or annually to check in on the process, modify and update it, and using the software to help build and sustain client relationships.  Soren talks about developing a robust portfolio of work, which now  includes writing for Ink Magazine, Psychology Today, Fast Company, and books on creating a culture of innovation and leadership for innovation. He also engages in consulting, developing business st
Released:
Aug 28, 2023
Format:
Podcast episode

Titles in the series (100)

Unleashed explores how to thrive as an independent professional.