TCII :: Management Consultants
Building Profitable Business
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FAQs
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I have a very limited monthly budget. How can I keep track of consultancy costs?
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I like what I hear, can I find out more without committing myself?
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I've never used a consultant before. What's the best way to get started?
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I know exactly what the problem is; how do I determine which is the best way to solve it?
1 Why do businesses use consultants?
Businesses use consultants for a huge range of activities and advice (too many to list here). However, some of the most common include:
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act as troubleshooters coaching, mentoring and general business advice
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act as a 'sounding board' for owner managers
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help develop business plans and business strategy
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help management develop or implement new systems
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provide an 'independent' professional view from outside the organisation
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Implement change - in any form
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assist in financial planning, including fundraising and exist strategy planning
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assist in developing marketing and sales strategies
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help with recruitment of senior staff
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specialist advice such as Health & Safety, COSHH, ISO9000-2000 etc.
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We can provide advice and practical help on a broad range of business areas
2 Aren't consultants expensive?
A good consultant should not be expensive to your business overall. The cost of engaging a consultant is relative to the benefits derived from it, and a good consultant will be able to add value to your business.
We firmly believe that money invested in our type of business advice is a true investment, which will pay for itself many times over.
At TCii Ltd we always look to demonstrate excellent value for money and return on your investment in the work that we do - through either better efficiency, direct cost savings, increased profits, or some other measure depending on the project.
3 How do you charge for your services?
Every assignment is different, so we have to assess our client's needs carefully depending on the type of work, the length of project, the amount of supporting resource that can be used from your business etc..
Longer term projects, and some individual assignments can be delivered under the IIB's popular Business Support Programme. This keeps the costs down using a reduced rate compared to normal consultancy rates and can be spread on a fixed monthly retainer basis.
We can also tailor a charging structure to your needs, based:
- by the hour
- by the day or week
- by the assignment
- a proportion of our fees could also be success related where appropriate
4 I have a very limited monthly budget. How can I keep track of consultancy costs?
All business have budgetary constraints and adding any level of cost, on consulting or otherwise, is always a big decision.
The Business Support Programme has been designed to offer a full range of consulting services at a very competitive reduced rate, which can be spread on a fixed monthly fee. Therefore the cost is known and can be planned in the same way as your payroll costs. Indeed we are happy to time the monthly payment to coincide with your normal payroll date if this helps your cashflow planning.
You may of course, find that you use our services for a number of projects which will incur costs over and above the base number of hours allocated under the Business Support Programme. We will always discuss our time with you and will bring any potential overspend to your attention before it occurs so you remain in full control of the cost. In the event that we do agree a project outside of the base number of hours allocated under the Business Support Programme, we can very often secure such additional work at the same reduced rate.
All time that we do spend will be accurately recorded and made available to you.
5 I like what I hear, can I find out more without committing myself?
Of course. The best way to find out in more detail if and how we can help you is to book an appointment for us to come and talk to you in person. We could even go through our full FREE Business Healthcheck at a meeting with you.
As well as giving you the chance to meet us face to face, we can take you through a structured exploratory meeting during which we can quickly get an overview of most aspects of your business, and we can discuss problems and issues that you may be facing. During the meeting we should be able to highlight key areas that need to be addressed in your business. Some issues you may already be aware of, but don't know how (or don't have the time) to resolve them. Others might be more of a surprise!
For this meeting you need to allow about 2 hours. It is completely free of charge and with no obligation.
6 What geographical area do you cover?
We are based in London, UK and have clients spread throughout the UK and mainland Europe. Our international network covers most countries ranging from Australia to Russia.
7 My company is a small to medium sized business but is a subsidiary of a larger group. Can you add value to my business?
Yes we can. The service we offer might be a little different - for instance you might have access to a good management team with a lot of the skills you require, and you may have very clearly defined plans and budgets laid down by your parent company.
However, we can still add a great deal of value in specific projects, initiatives etc and we would be delighted to discuss your requirements with you.
8 I would like to arrange a meeting but can't easily do anything in normal office hours. Can we meet at other times?
Yes we can. Just let us know when you need to meet, be it early morning, later in the evening, or even over a weekend and we will do our utmost to meet you at a time to suit you.
Having said that, it is often very valuable at our meeting to see where you work, and see the business at work. It helps us get a feeling for the business at an early stage. However, we do recognise that this might be impossible due to time commitments or the need to meet confidentiality.
9 Can you supply me with references?
Of course. Consulting firms have a confidential relationship with clients and must protect it. However, we can provide references to serious prospects so that they may speak with them directly.
10 I've never used a consultant before. What's the best way to get started?
First, you should formulate the question or problem you want to solve. Then, most importantly, find the right consultant for you and your business problem. Ask business clooeauges who have used consultants about their experience.Look carefully at several appropriate candidates and review their credentials, reputation and experience in your industry or general business situation. Then ask the few who are best qualified how they would proceed.
11 I know exactly what the problem is; how do I determine which is the best way to solve it?
Even if you are certain of the problem, ask your preferred suppier for his/her/their analysis of the problem. Compare their reasoning and approach. Do these seem compatible with your style of business? This should help you in both the selection process and in seeing the problem from several different points of view. Keep in mind that one of the important values that a consultant can provide is unbiased objectivity. After you select a consultant based on this preliminary assessment, you can go directly to the analysis.
12 What should I expect to pay for this analysis?
Since the analysis is the consultant's opportunity to demonstrate his/her capabilities to you, the cost should be minimal. TCii provides a "NO FEE" Business Health Check to all first time clients.
13 I've thought of using a consultant before, but have heard too many bad consultant jokes. How do I know whom to trust?
Trust is a matter of careful judgement based on information about credentials, professionalism, and an assessment of an individual's ethics. As professional Management Consultants, we are bound by our Code of Conduct.( Link here) We must continuously demonstrate compliance with this code and the highest standards of professionalism. This includes a regular peer review of completed projects.
14 Will your analysis be a disruption to my business?
Definitely not! After a brief introductory meeting with your employees, we will work around the timetable of you and your staff. You and your employees are free to get on with the business while we go about my work.
15 Am I obliged to appoint your firm for corrective action or implementation after your analysis is complete?
The analysis stands on its own. As part of my report to you, I will recommend appropriate alternatives and make specific recommendations. If you like my suggestions you are free to accept or decline. You are always in control.
16 I think this problem is bigger than what a medium sized consultancy can handle; shouldn't I find a larger firm?
If what you want and need is a contingent of fresh MBAs led by a senior marketing consultant, you should certainly get proposals from some of the larger firms. By the way, be sure you get to spend some time with the senior consultant who will run and lead the project.On the other hand, if you want the concentrated efforts of one or several senior consultants, a firm like TCii is probably your best bet. We regularly employ other qualified senior consultants whom we have known and worked with before. Our consultants are most often experienced Management Consultants like myself and members of The Institute of Management Consultants. We don't build our firm's strength with "On-YOUR-Job-Training". You should also know that we regularly sub-contract ourselves to some of the best of the larger firms, so we could end up being your lead consultant even if you take the large firm route. Of course, you may well find that those large firms are somewhat more expensive.
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