Tag Archives: consulting

How To Choose The Right Philanthropic Advisor

There are many people in the world who offer advice and guidance to people with means, especially when it comes to how one can best make more money. A wide range of specialized experts and advisors will gladly share their insights to make your decision-making process easier. Business consultants may help you set up a family office or expand your personal empire. Wealth advisors and financial planners help you enhance your earnings. Tax advisors help you protect your assets. These people can all be valuable resources and allies for growing your wealth, but what happens when you’re ready to give money away? Distributing wealth is a very different practice from earning it. The core practices and the nuances of philanthropic … Continue reading How To Choose The Right Philanthropic Advisor

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From Well Done to What’s Next

As some of you may have noticed, I recently was inducted into the Million Dollar Consultant® Hall of Fame by my own mentor and advisor, Alan Weiss, Ph.D. This honor was especially gratifying – not because of the fanfare but because, just like most people, I like to know that the work I’ve put into something (in this case, my consulting practice) has paid off. Over the last decade, I’ve invested hours of my time and a good amount of my own money in my personal professional development, striving to become the most effective and valuable philanthropy advisor I can be. I’ve learned one-on-one from top global consultants, improved my consulting practice by honing in on key strengths and opportunities, … Continue reading From Well Done to What’s Next

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Ten Ways Putnam Consulting Got It Right in 2016

Producing the Confident Giving newsletter is one my favorite things to do – in no small part because of readers like you who open, peruse, consider, and sometimes comment and share your thoughts with me. Thank you! As a weekly publication, Confident Giving covers a lot of ground in a single year. In January it’s always interesting to take a look back at the topics that attracted our readers the most. I’m happy to share 2016’s top 10 most read topics below. And if there’s something you’d like to hear more of in 2017, please let me know! 1.  The Next Four Years: Keep Moving Forward Before the 2016 election, our country was in a totally different place than it … Continue reading Ten Ways Putnam Consulting Got It Right in 2016

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Don’t Believe the “Complexifiers”

In my first attempt to hire my own financial advisor in my late 20s, I turned to Morgan Stanley in San Francisco. I interviewed two people.  One had a slide show presentation and overflowing binders of charts and graphs showing me how they informed his decisions, his track record, how this and that outperformed that and the other. I had little idea as to what he was talking about but I figured he must have known his stuff because he could prove it on an XY axis. The second person, a woman, looked at me straight in the eye and said “This is not all that complicated.” I was shocked. How could it not be complicated? I didn’t understand it. … Continue reading Don’t Believe the “Complexifiers”

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Strategic, Responsive, or Both?

I’ve been hearing a lot lately about funders weighing the options between strategic grantmaking and responsive grantmaking. The general angst seems to come from a sense that all funding must be strategic in order to make a difference. While it’s true that strategic philanthropy (as described below) can lead to broader or deeper outcomes, there is a time and a place for both. Let’s take a look at each: Responsive grantmaking is being open to receiving proposals and ideas from any nonprofit, and allowing the nonprofits to drive the agenda. Requests are initiated by the nonprofit, rather than by a funder seeking them out. This doesn’t mean that a foundation doesn’t have core areas of focus, but that within those … Continue reading Strategic, Responsive, or Both?

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Learning How to Learn

Most philanthropies seek to be strategic and have an impact. Yet few build their own internal capacity to be strategic grantmakers. In particular, most funders forget to intentionally learn from their initial piloting and testing of strategies so that they can make early modifications and course corrections. Learning isn’t hard to do, but it must be intentional, documented, discussed within your team, and it must lead to decision making. It can’t simply exist inside a program officer’s head. One of our clients, the Kate B. Reynolds Charitable Trust, asks themselves, “What will make or break this grant?” when deciding whether to recommend a significant grant to their board. They are clear on the risks involved and what needs to happen … Continue reading Learning How to Learn

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Beware the Off-The-Shelf Consultant

When meeting with potential new clients, I am occasionally struck by their “what can you do for me?” or “how much do you charge for an evaluation?” approach to hiring consultants. There is a fundamental flaw in this line of questioning that can doom a foundation-consultant relationship from the start. The approach is backwards, because those foundations are essentially scanning for an expertise that they may be able to use, or assuming a one-size fits all approach, rather than thinking about what they really need. If you have a program or initiative or planning project that feels incomplete or not quite what it should be, it’s tempting to look around for off-the shelf answers. And there are many pre-packaged consulting … Continue reading Beware the Off-The-Shelf Consultant

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Why RFPs Waste Time: Choose a Better Approach to Finding a Great Consultant Part II

Last year I posted a blog about why I consider the RFP process for hiring consultants to be a waste of time and resources, for foundations and consultants alike. This week, read about 5 better ways to find quality consulting help. Before you send out another RFP to retain a consultant, consider these alternatives: Continuously source and build relationships with consultants. Don’t wait until you desperately need a consultant to start looking for one. Ask peer foundations to share their experiences. Create a shared list of consultants who have delivered pleasing results. Ask a consultant or two to help you brainstorm ideas in the early stages in exchange for lunch. Ask colleagues, including consultants, for referrals. Word of mouth truly is … Continue reading Why RFPs Waste Time: Choose a Better Approach to Finding a Great Consultant Part II

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4 Stepparenting Lessons for Grantmakers

I’m a stepparent and a stepchild. Apparently I am not alone. A staggering 42% of U.S. adults have a steprelationship–either a stepparent, a step or half sibling, or a stepchild. This translates to 95.5 million adults and doesn’t include all the stepkids under 18. This number is probably actually larger, when you count all the boyfriends, girlfriends, and fiancés of people with kids, plus those kids themselves. Essentially, there’s a whole bunch of adults and children wondering, “Who is this person, why are they in my life, and what am I supposed to do with them?” Here are four stepparenting lessons I’ve learned that apply to philanthropy and consulting: 1. You have all the responsibility and zero authority. As a stepparent you might … Continue reading 4 Stepparenting Lessons for Grantmakers

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Grantmakers Should Think Like Consultants

I believe foundations could save time, solve problems more efficiently, and add greater value if their senior leadership would think like consultants. Let me explain: Most consultants work on a time-and-materials basis, meaning that they have an hourly rate. Foundation leaders who hire those consultants deem the value of their work worth that fee. However, foundation leaders rarely calculate the cost and value of their own staff’s time — which is a pretty simple thing to do. Let’s say the annual salary of a senior program officer at your foundation is $100,000. Let’s assume her annual benefits are 25 percent, so now you are at $125,000. There are 2,080 working hours per year, so if you divide $125,000 by 2,080 … Continue reading Grantmakers Should Think Like Consultants

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