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Using Consultants
In the middle of economic riches, your company should be doing fabulously. If it's not -- if you are feeling poor, out of step, unfulfilled or without a plan - it's definitely time (probably past time) to seek some outside help.
If you don't have the company you've always wanted, search out a consultant who can help you write and implement a plan to get there. I know, consultants are in low repute ("A consultant is the person who borrows your watch to tell you what time it is.") But like lawyers, doctors and remodelers, they range from poor to excellent.
Redesigning your business is a little like the design/build process in remodeling. You want to remodel your business to take advantage of the strengths and reduce or compensate for the weaknesses. These are the four steps in the business redesign process:
Step 1: Make the decision to remodel your business.
Ask yourself whether a well-qualified outsider who understands entrepreneurial
businesses like yours could be of help in devising solutions that
excite you. The greater the advisor's experience, the more likely
they will be able to present you with a number of alternative solutions.
There is more than one way to solve any problem, and the solutions
should be custom fit to your issues, your vision and your personality
and style.
If you start to feel negative about your own inability to solve all your problems, stop. You get outside help in all sorts of areas -- whether it's computer solutions, accounting, hiring, payroll services, retirement plans. This is just one more assist from a specialist. Don't get overly emotional about it.
Step 2: Choose your business remodeler
(otherwise
known as a consultant.)
This may be the toughest step. Here's what I would look for -
1. Someone with significant industry-specific experience. While a general business consultant can be helpful, you end up educating them on your field and that can take a fair amount of time. They don't have the benchmark numbers (like job cost percentages, insurance costs, typical ranges of markups, marketing expenditures) at hand that make diagnosis faster and simpler. And they are missing the repertoire of solutions that they know will work in your field because they've seen them work.
2. You want someone with at least 5 years experience who can give you good references of companies they've helped that are much like yours in volume and niche.
3. Find someone with whom you feel very comfortable. You will be "spilling your guts" to this person, and you want them to make it easy for you. If you feel intimidated, if you just plain don't like the person, go to the next candidate.
4. Ask what their process will be. If they will be at your site for one or two days, how do they break up this time? Do they require information, forms, questionnaires filled out and sent back before they come? If so, this is a good sign because it means they arrive already somewhat knowledgeable about your company.
5. Ask what the follow-up will be . After they leave your site, do they send a report? How extensive is it? Or is there telephone follow-up and is that included in the price?
6. Find out the full costs - fees, travel (coach or first class?) And when payments will be due . On-site consulting is likely to run $1500-3000 per day plus travel expenses.
7. Check if there is any type of guarantee. What if you end up unhappy with the results? What if the suggestions don't work? Here are some "insider" questions you should ask. What are your strengths as a consultant? What are your weaknesses and biases? As you understand my needs, where do they lie in your comfort zone? Is there any "boilerplate" in the report you will receive or is the report custom tailored to me and my company?
Step 3: Redesign your dream business with the consultant.
This step consists of going through the process led by the consultant.
They should be in charge of the agenda for the time and should be
responsible for keeping you on target. You'll be incredibly tempted
to show your very best side (a little like going to the doctor for
a pain in your back and then saying you feel fine!). Try to be very
straightforward and tell it like it is. No matter how strange your
ways may be, most consultants have seen stranger. Drop the barriers
so that you get real help for the real issues.
When it comes time to discuss recommendations make sure you are comfortable with your willingness to make a change and with your ability to make that change If you aren't, ask the advisor to suggest another solution you are more comfortable with. Ask for help prioritizing the recommended changes so that you can attack them one-by-one starting with those that will have the greatest impact.
Step 4: Rebuild your business according to the design.
Here's where most consultants understandably bow out. Implementation
is yours to accomplish with cheering and coaching from the sidelines
by your advisor.
Here are some tips to help:
-
Get started immediately so the momentum of the consulting is not lost.
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Pick a winner - start with something that will make a difference and has a high probability of success.
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Don't try to do everything at once. Take on the changes bit by bit. If you try to do too much all at once, you will fail. Remember, it's a marathon, not a sprint.
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Get your team to take on parts of the plan so everyone is moving forward. This increases dramatically what you can get done in a limited amount of time to work "on" the company.
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If you slow down, get discouraged or get off track, get the advisor's help.
As you can see, there are lots of similarities between the consulting
process and the remodeling process. In remodeling the prospect needs
to commit time and money . Then the prospect needs to research a top
quality remodeler. Then the remodeler develops the diagnosis and design
solution. Except in remodeling, the contractor also does the implementation
that turns the plan into reality. You will be the re-builder of your
business. As two ad slogans advise "No Fear," and "Just
do it!"
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Official Charity of 2008
Remodelers Advantage Inc.
535 Main Street, Suite 211
Laurel, MD 20707
ofc: 301-490-5620
fax: 301-498-6869
Info@RemodelersAdvantage.com