What you should require from a consultant!

When a company, organization, business, or any other entity uses the services of a consultant, they are entitled to certain specific services and other things. All too often, consultants are chosen based on perceived credentials, or fancy jargon or rhetoric, rather than on what the consultant can accomplish. Generally, a consultant who relies on lots of jargon, is simply trying to "sell" himself as an expert, and, very often, it is not the technical expertise, but the practical, hands-on, common sense applicability of a consultant's suggestions and observations that is the most valuable. Remember that anyone can spout technical jargon - much of it is widely available on the internet. In order to select a consultant, you need to feel comfortable with that individual.

The first step is for you to ask a lot of questions, and listen carefully to the answers. If a consultant is doctrinaire that there is only one way, or one solution to use in a situation, you should probably avoid that individual. You do not want your consultant to approach your challenge with any pre-conceived notions of what you should do. A good consultant must first and foremost be an excellent listener. He must also ask you questions so he is clear on what you are looking for. You also want to know what procdedure or steps the consultant plans to use to serve you. How long will the process take? What will the consultant be doing during that period? What will the consultant expect of you to complete the specified task?

Don't be afraid to ask what it will cost, but remember that using the wrong consultant will often cost you far more than the fee differential. What will the consultant provide you with? Will the consultant be available to you after the completion of the project, and what will that fee be?

If the consulting issue is finance related, how will what this consultant does differ from the services of your other financial professionals, such as your accountant, financial planner, and stock broker? Will the consultant want to speak to these other professionals in the course of his consultancy.

Don't be overly dependent upon recommendations offered. The reality is that almost anyone can supply the names of positive recommendors. Make certain that you sign a formal agreement with the consultant specifying exactly what services are being provided, and the related fees.

You are hiring a consultant to help you or your organization. It is proper to have certain expectations. Make sure both you and the consultant clearly understand the expectations and parameters of the consultation, and what report(s) will be provided at the end of the consulting period.

Be realistic in your expectations. Do not expect the consultation to be either a magic elixir, or the cure-all. A good consultant will observe, ask questions, make suggestions, and provide alternatives. If you use a consultant, the only way it will be worthwhile is if you then follow through with implementing those expectations. Don't hire a consultant just to hire one. Think about what you want, and what are realistic expectations.

Don't get fooled by rhetoric or glitz! What matters in consulting is helping you achieve specific needs and goals!

  

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