Consultants, Consultants, Everywhere!

There are thousands of consulting firms in the world today! From health to finances to management consulting, there are a plethora of consulting agencies that specialize in just about anything and everything you could imagine. Maybe you aren’t even sure exactly what your organization needs to begin with? You begin to search out a consultant and you realize there are millions of them, so what do you do now?

1)      Plan your budget.

Big name consulting firms have the backing and reputation you may be looking for, but they are also pricey. If you operate a sole proprietorship, then you may not be able to afford a consulting firm like the McKinsey & Company and that’s okay. Your organization can find a consultant in the price range you seek. Don’t be cheap because, by nature, consulting is expensive. But you also don’t need to break the bank. There is a consultant out there that can work within your budget. You just need to KNOW what that budget is.

2)      List out where your organization thinks it may need help.

If you think your business is suffering from poor leadership, then you may need to seek out a consultant that focuses on teamwork and executive leadership. If your team is struggling with strategy, then you probably should seek out a consulting agency that specializes in the area of your weakness in developing strategy. The point here is this: be willing to point out your own faults. If management thinks nothing is wrong, then why do you need consulting in the first place? And if you have no idea where your company is going astray, then you could spend thousands of dollars and wasted time on consultants that just want to earn their compensation when your biggest problems lie elsewhere.

3)      For big projects, feel free to ask consultants to prepare bids.

While this may not be the answer for a few hours of services, asking consultants to prepare bids for big projects is a must! Likely you aren’t sure what your organization needs. Otherwise, why would you need consulting in the first place? So, if you can describe the problems to potential consultants, then let them prepare a presentation to explain what their firm can do for you. Then, you have the freedom to select the candidate with the best results.

4)      Know there is no consultant too new or too inexperienced.

Just because a firm is a no-name or is just starting out, don’t turn your nose down. Sometimes these consultants have the best advice at the cheapest cost. Often, these consultants are recent MBAs who are just beginning their consulting careers or experienced professionals who are ready to leeway their existing careers to move into the consulting world. Make sure that these individuals have knowledge in the area you seek, but you have to remember that everyone has something to learn from someone. Give them a chance. They may surprise you, and you could potentially save thousands.