ST. PETERSBURG, Fla. --- Value and accountability are the most important keys to a successful professional practice, according to Rachel Elias Wein, founder and principal of WeinPlus Real Estate Advisory Services in St. Petersburg.
Wein, who addressed students in the Masters in Architecture program at the University of Florida recently, said the economic downturn has increased demand for these metrics in all segments of professional consulting.
“Value and accountability are objective measures and successful professionals demonstrate and document those measures to their clients in ways the clients can grasp enthusiastically,” Wein said.
“Professional consultants typically view a project in ways managers don’t,” Wein told the group.
“There is always a temptation for consultants to perpetuate a problem — as the problem exists the consultant still has work to do and fees to bill. That perspective has negative consequences for the individual and the profession. Clients won’t want to hire you and colleagues won’t want to work with you,” Wein said.
“You’re not here to sell your services,” Wein said. “You’re here to help your clients succeed.”
Wein, whose professional credentials include Masters Degrees in both architecture and real estate, said successful consultants today can document the value of their contribution toward a project.
“When I do project planning, I aim to generate a return of 10 to 15 times my fees for the client. If that sort of return is not feasible — if I can’t generate 10 to 15 times the profits a client is paying for — we’ll stop,” she said.