How to Select a Consultant . . . .
You have an important project that has to be done. You and your staff are loaded down with other work or a special set of skills is needed. This may be writing a business plan to obtain new financing, setting up a new production facility or recommendations for reducing your operating budget. The list is endless.
Hiring a consultant may be your most cost-effective solution. They are there when you need them. They are not added to your payroll and their cost goes away when the project is complete. Since your consultant will have the skills tailored to your project, they do not have to be trained as an employee would.
The consultant’s role is that of an advisor. The ultimate decision-making and approval stays with you. Their job is to identify problems and recommend strategies to improve your business offering a fresh, unbiased view of your organization. A consultant should provide an independent perspective, knowledge and judgment developed from work across many organizations.
The process of selecting a consultant is made up of four (4) major steps . . . .
1. Define the project so all parties understand the objectives and the key results desired.
2. Establish the selection criteria for this project.
3. Select the consultant against these criteria.
4. Request a written agreement describing how the project will be carried out and the agreed to terms and conditions.
Define The Project . . . .
Begin by writing a detailed description of your objectives and requirements. What results do you expect? How do you want the information presented at the end of the project? What is your timeline and required completion date?
This is an example of a project definition:
ü Write a business plan to obtain bank financing for operations with a 25% increase in sales over the next two (2) years.
ü Evaluate current sales patterns and determine top three (3) prime markets.
ü Analyze and profile the top five (5) competitors for each market in our geographical sales region.
ü Work with staff to develop sales strategies and tactics to develop sales in these three (3) target markets to get this 25% increase.
ü Verify that the current operations structure will support this growth and recommend changes.
ü Develop a financial plan to accomplish this along with financing requirements.
Other things to consider as you define the project: What resources you are willing to commit to the project? What are your top five (5) “hot buttons” or key issues for this project? What level of involvement and interaction do you want from consultant and staff? A clear detail of the scope and objectives of the job will allow the client and the consultant to understand fully the project. The more information supplied to the consultant, the faster the project can be completed and at a lower cost.
Our Approach . . . .
Business Model Review
Are you attacking the right customer sets and the right markets? Does your product portfolio and distribution strategy match your world-wide target marketplaces? We perform a business model review to prepare your company for any changes needed in the way you do business.
Product Portfolio Assessment
Where are your current products in their product life cycle and how relevant is your current product strategy to the needs of the marketplace. Our product portfolio assessment examines each product and its place in the life cycle as well as its pricing and licensing to determine where we can generate the optimum impact in revenue generation.
Technology Assessment
Is the right technology in place to gather and analyze the information needed to support an effective channel strategy? We review the information requirements and lay out a technology plan to fill them. This study includes the Customer Relationship Management application needs, sales tools and the right support infrastructure.
Distribution Channel Assessment
Even if your target markets and your products are correctly matched, is your distribution channel performing optimally? We perform an assessment of people, technology and processes to ensure successful distribution of the current product portfolio.
