An industry leader and an exceptional consultant, Kevin Modany has enjoyed numerous years atop the corporate ladder as the Managing Director of Bluerock Partners. Specializing in consultancy, the Indiana-based professional specializes in everything from due diligence and M&A to process enhancement and cash flow optimization.
Taking time out of his day, Kevin Modany outlined some of the critical steps, techniques, and processes he found most beneficial to his work as an Executive Consultant.
Let’s explore the work of a consulting practice while defining some of the best practices that Kevin Modany has outlined along the way.
Importance of Data
Developing better business practices in today’s modern business world requires close attention to detail about data. Kevin Modany has always had an affinity for the role of data in business, and that is something he continues to implore others.
Modany says, “There’s a plethora of data. People are collecting more and more of it. I think it requires that we prioritize and make sure that we are focused on the right set of data, and we don’t get overwhelmed by it.”
While data is essential to the work of Kevin Modany, it is far from his only consideration. Modany adds, “There are still qualitative considerations, and you must always have that as part of the equation.”
Invest For Success
Kevin Modany firmly believes in investing for success, which means taking a personal role in the process. Modany suggests that consultants invest time and money into their careers, attending conventions and other industry events to improve their skill sets.
Consultants must constantly work to stay abreast of the rapidly changing industry to synthesize that information for consumption by their clients. Investing in success can also include leadership marketing, which involves the construction of leadership thought pieces for publication on platforms like Forbes.
Executive consultants like Kevin Modany must perform a thorough competitive analysis of the industry surrounding them to uplift a company and lead it to better outcomes. This information should include prices, expansion plans, technologies, goods, and services provided by competitors.
A thorough competitive analysis performed by a professional consultant will consider the local, regional, and national markets.
Embrace the Role of Clear Communication Services
An executive consultant can only succeed by effectively communicating and synthesizing information. Kevin Modany believes adopting clear and consistent two-way communication models is of the utmost importance. Modany says, “If you ask me a question, you’ve got to be careful because I will give you an answer.”
Clear and consistent communication channels make it easier than ever for every executive team member to stay read-up and on-point with their efforts.
Modany adds, “Sometimes it is painful, but you’ve got to be truthful, and that’s how I am. That’s the way I’ve always been.”