243 | Navigating Success: Pat Kaiser's Trailblazing Journey in Tech Part 2

Welcome to another enlightening episode of the Art of Consulting podcast, where we delve into the personal and professional journeys of some of the most inspiring leaders in the industry. In today’s special installment, we are thrilled to welcome Ms. Pat Kaiser, a dynamic leader whose extensive background spans operations, marketing, sales, IT, HR, risk management, and mergers and acquisitions. Join us as we explore Pat’s journey, from her impactful career in consulting to her significant contributions to organizations like Agilus Work Solutions. Along the way, Pat shares invaluable insights on preparing a business for sale, the role of intellectual property in consulting, and navigating the challenges of being an independent contractor versus an employee. 00:13 - Introduction: Speaker 1 welcomes the listeners and introduces the guest, Pat Kaiser, who has been a role model and mentor throughout their career in consulting. 00:15 - 00:41 - Introduction Continued: Speaker 2 elaborates on Pat Kaiser’s impressive career in IT and consulting, highlighting her leadership roles in multinational organizations and her experience guiding companies through mergers and acquisitions. 00:41 - 01:38 - Preparing a Business for Sale: Pat discusses the process of preparing a business for sale, which involves ensuring documentation accuracy, maintaining clean financials, and setting up a data room. She explains the importance of keeping the staff unaware of the sale preparation to maintain business stability. 01:38 - 02:20 - Confidentiality and Preparation: Pat elaborates on the necessity of discretion while prepping the business for sale and creating a teaser document for potential buyers. She also talks about the development of a confidential information memorandum (CIM) that provides detailed business insights to interested parties. 02:20 - 02:58 - Engaging Interested Parties: Pat explains the role of letters of intent in the sale process and how they serve as binding agreements indicating serious interest from potential buyers. She highlights the competitive nature of these engagements, particularly when competitors are involved. 02:58 - 03:35 - Valuation of Consulting Firms: Pat discusses the importance of intellectual property, management team stability, and staff skills in the valuation of consulting firms. She emphasizes that the primary assets being acquired are the people and the goodwill with clients. 03:35 - 04:48 - Value of Intellectual Property: Pat underscores the value of intellectual property in a consulting firm, including software and documented best practices that can enhance business operations and client implementations. 04:48 - 05:33 - Importance of Client Lists: Pat emphasizes that client lists are often the most critical asset in a consulting firm’s valuation, followed by the skills and experience of the staff and intellectual property. 05:33 - 07:46 - Detractors from Business Value: Pat identifies factors that detract from a business’s value, such as restrictive client contracts, debt, poor reputation, and inexperienced staff. She explains the importance of managing these elements to maintain business value. 07:46 - 09:40 - Independent Contractor vs. Employee: Pat compares the pros and cons of being an independent contractor versus an employee. She discusses financial rewards, job stability, and opportunities for professional growth in both roles. 09:40 - 13:34 - Discipline in Consulting: Pat highlights the need for discipline as a consultant, from understanding client environments to managing time and continuous learning. She shares tips on how consultants can stay relevant and valuable in the industry. 13:34 - 14:36 - Continuous Learning: The discussion emphasizes the importance of continuous learning and investing in personal development to enhance one’s skills and certifications, ensuring long-term success in consulting. 14:36 - 24:47 - Closing Insights: Pat reflects on the significance of having intentional plans and being proactive in career development, both as an employee and a consultant. She shares personal anecdotes and advice on navigating the consulting industry successfully. Episode Highlights 00:13 - 00:15 - Introduction: Speaker 1 welcomes listeners and introduces the episode. 00:15 - 00:41 - Today's Guest: Speaker 2 introduces Pat Kaiser, highlighting her career in consulting and IT. 00:41 - 00:47 - Opening Question: Speaker 1 asks about preparing a business for sale. 00:48 - 01:38 - Preparing a Business for Sale: Pat explains key steps, focusing on documentation, financials, and confidentiality. 01:38 - 02:20 - Confidential Preparation: Pat discusses keeping sale plans discreet and creating teaser documents and CIMs. 02:20 - 02:58 - Engaging Buyers: Pat covers engaging buyers through letters of intent and binding agreements. 02:58 - 03:35 - Business Valuation: Key assets in a firm’s valuation, including intellectual property and client goodwill. 03:35 - 04:48 - Intellectual Property: The value of IP in improving business operations. 04:48 - 05:33 - Client Lists: Importance of client lists in increasing a firm's value. 05:33 - 07:46 - Detractors: Factors that detract from value, like contracts, debt, and poor reputation. 07:46 - 09:40 - Contractor vs. Employee: Pros and cons of being an independent contractor vs. employee. 09:40 - 13:34 - Discipline in Consulting: The need for discipline in managing time and continuous learning. 13:34 - 14:36 - Continuous Learning: Importance of investing in skills for long-term success. 14:36 - 20:12 - Career Planning: Pat reflects on intentional career planning and proactive development. 20:12 - 24:00 - Building a Consulting Organization: Insights on leading a successful consulting firm. 24:00 - 24:47 - Closing Remarks: Speaker 1 and Pat summarize key points and express gratitude.   About Our Guest Today Ms. Patricia Kaiser (Pat) was President of the Office Professional & Light Industrial division of Agilus Work Solutions, a large national workforce solutions firm, where she brought over 25 years of experience to the role. Previously, she was the incoming President and VP of Corporate Development for The BOWEN Group, Interim President and Chief Operating Officer for MacKay CEO Forums, and Chief Operating Officer for Sierra Systems for almost a decade. Pat is on the Board of the Alberta Electric System Operator (AESO) and is the Chair of the Human Resources Committee as well as a member of the Audit Committee. She also served on the Board of the Calgary Homeless Foundation for a number of years and in her last year, served as the Board Chair. Pat holds a Bachelor of Commerce degree from the University of Saskatchewan, she attended Queens University’s Executive Marketing program, earned her ICD.D from the Rotman School of Business in Toronto, and has been a regular lecturer at the University of Calgary’s Haskayne School of Business. Where to find Our Guest online: LinkedIn - Patricia Kaiser: https://www.linkedin.com/in/patricia-kaiser-b-comm-icd-d-0337b14/?originalSubdomain=ca Agilus Work Solutions: https://www.agilus.ca/