Frequently Asked Questions

As my organization looks to grow and improve, when, if ever, should I look to outside help?

• Could you benefit from an objective, unbiased point of view without the politics or personal agendas?
• Need some help developing a fresh business strategy?
• Are you having trouble identifying and quantifying your business and personal goals?
• Do you want to delegate a project that you just don’t have time for?
• Could you really use some help in important negotiation sessions?
• If you feel stuck or stagnant and you can’t identify the root cause.
• Could you benefit from expertise that your staff does not have?

If you answered YES to any of these, then working with a consultant could be of great value to you.

What can I expect from working with a consultant?

Once your goals are defined, you can expect that customary objectives include:

• Communicating goals and strategy throughout the organization
• Conducting thorough evaluations of your business and personnel
• Obtaining opinion surveys of internal and external clients, vendors, suppliers
• Analyzing and provide you with financial and comparative analysis, funding and budgeting possibilities
• Studying your current market, marketing techniques and give you suggestions for improvement
• Providing you with straight answers and cost-effective solutions
• Coaching, challenging and mentoring you or your management team
• Consistently review progress and modify plans as challenges arise

Results will be dependent upon how open and receptive your organization is to hearing the consultant’s findings and then implementing some or all of the recommendations.

Certain challenges, or internal or external obstacles, will likely present themselves along the way. An experienced consultant will be flexible and resourceful to ensure the goals remain in focus and are ultimately achieved.

Don’t consultants just tell me what I want to hear?

Experienced consultants want results as much as you. Their reputation is based on the success they help you achieve. Reputable advisors won’t sugar coat what they find. They will be honest with you, brutally honest at times, and give you clear, concise objective facts and develop implementation steps towards achieving your goals.

Aren’t they expensive?

If you view the hiring of a consultant or an advisor as an ‘expense’, then candidly, change may be difficult for your company. If you see hiring a consultant as an ‘investment’ that will provide significant and quantifiable returns for you, then the engagement will be worth your time and energy.

Consultants and advisors don’t want to waste their time or your money. They want to do their job efficiently and, if possible, get you the results you desire. To that end, consultants offer a variety of payment options that typically include day rates, retainer agreements or equity arrangements.

Retainer agreements are usually the most beneficial to the client because they sets aside a certain amount of time that can be used for a variety of issues as the project evolves.

Another option, working on a contingency basis, allows some of the fees to be paid at agreed upon benchmarks and then the balance at the end of a successful engagement.

This unique offering is sometimes considered by consultants/advisors that are very comfortable with your willingness to work with them as well as their ability to help make significant progress. In most of these arrangements, the majority of the fees are paid at the end or over time and often are based on a percentage of the new money or new savings that have been created with the consultant’s advice.

How do I know that I’m working with the right consultant for me and my company?

Ask for a reference list first. Then call their clients and customers. Get a feel for how they approach engagements and the results they achieved. The more comfortable you are with the answers of their clients, and the meeting with the consultant or advisors themselves, the better off you’ll be.