Hiring a top consulting company has the potential to take your business from mediocrity to millions.
A good consultant can realistically increase your bottom line by 1000% percent or more, in a relatively short amount of time. A poor consultant could waste more than just your money, they could waste your precious time, energy, and patience – doing things that are ineffective and impractical.
Consulting, unlike most every other profession, doesn’t require a new consultant to get any certification or pass a test. Anyone can claim to be a consultant.
The problem is, most consultants are incredibly expensive – that is, they charge astronomical fees before they make you a cent. They can’t guarantee their work because they don’t use proven approaches to grow your business. And, they typically work harder convincing you to write them a retainer check than to make you business more profitable.
I’ve been duped by a smooth talking salesperson before, and my job now is to protect you against these predators.
Here are three things that I wish I started doing years ago when I was hiring a consultant:
- Negotiate (or at least ask) if they will accept payment based on performance instead of upfront. You will immediately weed out the consultants that are only after getting their retainer check, and abandoning your business with a PowerPoint and a handshake – instead of tangible profits in your bank account. Most are taught great closing sales techniques, but nothing about how to make your business more money.
- Do a trial run. Get on the phone with the consultant and see what they’re made of. If they don’t impress you now and give you at least one tangible solution to your problem, it’s unlikely they’ll be able to help your business after you hire them.
- Make them guarantee their work. If you do decide to fork over a big check before you see tangible results, ask if they’ll guarantee their work. Set realistic goals for them to strive for. Put in your contract this caveat: if they don’t accomplish the goal(s) you laid out, have them refund all or part of their fee. If they won’t agree to this, they’re not a top consulting company.
Do these three things during your next search for a top consulting company and you’ll find the most capable individual for the job in the least amount of time.