Well, Robin, we need you now to help wake up America! World War C (Cyber) has arrived on our shores, or more accurately to our computer infrastructure. It isn’t the British this time. And it isn’t visible, it’s digital. But it is serious in terms of the risk of economic damage and destruction.

Computers have changed our lives in wonderful ways but our move toward transparency has other consequences – opening the “computer door” to bad guys. The Intelligence Community is reasonably well prepared but make no mistake, despite billions of dollars already spent, vast portions of the U.S. government, State and local government and most of the commercial market are highly vulnerable.

Our key infrastructure industries pose the greatest concern – financial and utilities- as any disruption there can cause severe economic repercussions but every industry, every commercial business faces threats never faced before.

America’s physical infrastructure has suffered for years because, as a culture, we like to spend money on new, sexy things rather than on essentials.

Cyber security  IS sexy – spies, war, secret code, danger….  Got your attention?

There is a wealth of information available on how to protect your business. One good starting place is the National Cyber Security Alliance www.staysafeonline.org where a great deal of free information is available to start your own journey to better security.

Maryland Cyber Investment Partners www.marylandcyber.com is here to help. We can connect you with the very best resources, experts in cyber security, to protect your business.

Good Morning America!

Trying to build up the courage to take some risks in your business? On this page you’ll find free business assessment tools that will help you. They were inspired in part by reading “Shadow Divers” by Robert Kursonwill, which I’d recommend you read.

It will provide you with a compelling illustration of just what extreme risk looks like. A quick business assessment of this venture would have had large red letters marked “danger!”

What is Deep Wreck Diving?

Deep wreck diving is among the most perilous of human activities. These brave adventurers risk their lives – and often lose – in pursuit of glory, riches and perhaps simply to test themselves.

But what does deep wreck diving have to with business & corporate growth?

The business owner who considers such a risk is betting on his/her ability to win or, in the event of a loss, starting over. Is that you?

Important Questions: What are the risks?

This is one of the most important questions regardless of whether you’re doing a free business assessment or paying for one. In the case of deep wreck diving, for example, the risks are huge:

• Strong and very unpredictable currents,
• Limited visibility in which to get lost both inside and outside the wreck,
• Sharp edges and heavy objects on damaged/decaying ships and
• The almost inconceivable pressure on the human body when depths beyond 100’ below sea level are explored.

Every 33 feet you descend into the ocean increases the pressure on your body by one atmosphere. 95% of diving in the ocean is recreational and takes place in depths of less than 50’. Divers report that at 130’ the body starts rebelling, and at more than 200’ – where this story takes place – hallucination and even worse set in.

As if those problems aren’t enough, returning to the surface must be done very slowly – often up to an hour- with rest/recovery at specific depths in order to allow the body time to adjust. Those who return rapidly to the surface often do not survive.

Important Questions: What are the rewards?

What’s the Return on Investment (ROI) on such a venture? Financially, it would depend upon the value of goods salvaged from the wreck. The reputation or Brand impact for your Company would be measured in the ability to convert success into future business. The Personal Satisfaction from such an undertaking may also influence your go/no go decision.

THIS Opportunity

These divers report having explored the sunken U-869 60 miles off the New Jersey coast beginning in 1991 for 7 years! It was a boat that simply couldn’t have been there according to the war records of the Allies and German military. It was enticing yet far more difficult – 230’ below sea level – than other deep sea wreck explorations attempted by anyone. As a business owner, your assessment template should be based on the idea that you don’t consider something like this unless you truly understand the risks and are willing to take your chances.

How they did it

Meticulous planning, a very experienced team, operating as safely as possible and avoiding bad weather were just some of the keys to success. You can’t leave persistence out of the equation however. Lesser adventurers would have given up on this quest years before this team did. As you look at your own team, do they have the right stuff to attempt a major move? This is not a good time to perform an inaccurate assessment.

The Result

The divers ultimately did solve the mystery of the U-Boat. 3 diving companions lost their lives. The surviving families of the crew of the U-Boat were told of the fate of their love ones. Valuable items were recovered but the divers primary satisfaction came from solving the big mystery… by taking the big plunge.

Are you considering a big plunge? Think deep. And take this free business assessment that we developed just for you.

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Investing in the assistance of outside advisors is a key decision for you. Your time is very valuable and you want to make sure that you get a high ROI.

The most important decision you’ll make is WHO to engage. And to make that best decision work for you, you want to approach it with a good understanding of business consultant prices and how to assess how much you should be willing to pay.

What determines the price?

As in most industries, business prices are determined by a number of factors, none more important than the reputation and track record of the consultant.

Generally speaking, if the track record is there and can be verified by satisfied customers who have been the recipient of tangible results, your ROI will be secure. If they’ve performed before in similar situations, there is a much higher probability that they can perform for you.

Other factors besides reputation and track record weigh heavily as well. Rates vary by

• Size of customer,
• Markets served,
• The degree of specialization,
• The potential value of the work and
• The marketability of the consultant.

Let’s take these factors determining business consultant prices one at a time.

Larger companies tend to pay higher consulting fees than smaller companies. The consulting firms that serve them have high marketing costs and overhead and therefore have a higher rate structure.

Certain markets allow higher rates and this is closely tied to the level of specialization. For example, heavily regulated industries such as financial institutions and technology generally prefer to work with consultants who have specialized in understanding their issues.

Specialization can also be a differentiator that rationalizes the price you should pay for business consulting services. For example, there is a strong demand for intergenerational consultants to help companies understand their multigenerational workers better in order to motivate and retain them.

The potential value of the work is a key determinant of price. If your potential gain from every additional sale is $100,000 profit, you will pay more for consulting advice that wins that business than another company who gains $100 from an additional customer.

Unfortunately, the ability of the consultant to market themselves is another key variable in determining price. I say unfortunately because ultimately what you care about is getting results, not in being wowed. Unless they are a pure genius who stands out dramatically from the crowd, consulting fees will be higher for those who market themselves well.

So, how much should you pay?

The key to making a good decision is to calculate the ROI on each consultant you interview and choose the one that delivers the highest ROI. You’ll have to make some assumptions to do this but that is the rigorous thought process that gets you the best result. Its not the business consultant prices in isolation that matters, it’s the RETURN on them that’s the key!

With a now thorough understanding of how prices are determined, ask the consultant to provide you with an ROI projection. A simple ROI calculation would be to take the total incremental earnings you will receive because of the assistance of the consultant and divide it by the total cost of the consultant.

A better calculation is to time-adjust and risk-adjust the rewards and the cost using a net present value calculation.

So, calculate your ROI on your consulting options, choose wisely and prosper!

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