Why Hire a Consultant

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Summary of the reasons to hire a consultant and the value gained when those reasons are compounded.

Summary of the reasons to hire a consultant and the value gained when those reasons are compounded.

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  • 1. WHY HIRE A CONSULTANT?© 2 0 1 3 J O R D A N R I D G E L L C
  • 2. Consultants are inherently accountable. Consultantsare generally paid for specific work in a specifiedtimeframe under a verbal or written agreement.Consultants want your recommendation and follow-on work, making them very motivated for yourcause.Full-time employees are often less motivated to getthe job done.ACCOUNTABILITY & MOTIVATION© 2 0 1 3 J O R D A N R I D G E L L C
  • 3. You hire a consultant that has already done the kindof work you need completed, so there is little or notraining necessary.Consultants not only tend to have direct experiencein many markets, industries or circumstances, butthey also tend to be the most adaptable and quick-learning resources that you can hire.PRIOR EXPERIENCE© 2 0 1 3 J O R D A N R I D G E L L C
  • 4. Consultants allow you to “try before you buy.”Often you can engage a consultant on a smallproject before contracting them for larger projectsor even long-term engagement. This reduces yourfinancial risk in spending for a consultant who doesnot meet your needs, and it also enables you toquickly develop your project.TRY BEFORE YOU BUY© 2 0 1 3 J O R D A N R I D G E L L C
  • 5. Many consultants will work with a flexible level ofcommitment, working hourly, on a project basis, orunder a long-term agreement. This flexibility allowsyou to appropriately plan your budget and keeps youfrom overspending on full-time employee overheador worse yet, having to lay off full-time employees.WORK AS NEEDED© 2 0 1 3 J O R D A N R I D G E L L C
  • 6. Consultants may allow you to accomplish effortswithout exposing your intellectual property orstrategy.Consultants can perform work, subject toregulations and business ethics, under their ownorganization name, keeping your company goalsconfidential.ANONYMITY© 2 0 1 3 J O R D A N R I D G E L L C
  • 7. Consultants can leverage, but are not limited by,your company’s culture or business processes.Consultants leverage the insight and knowledgegained from other experiences to create the solutionor plan that will offer the highest return for yourorganization.BROAD-BASED CREATIVITY© 2 0 1 3 J O R D A N R I D G E L L C
  • 8. Consultants are cost-effective. Full-time employees requirea significant overhead expense in addition to their salary tocover health benefits, 401k matching, vacation and sicktime, computer and other physical resources and more.Consultants incur none of these expenses.Consultants are generally hired for a specific budgetedamount meaning that there is no waste. Full-timeemployees, on the other hand, are a constant expense(directly and in overhead) regardless of their work output.COST-EFFECTIVENESS© 2 0 1 3 J O R D A N R I D G E L L C
  • 9. Some tasks, because they occur so infrequently, callfor special skills that cannot be learned quickly oreasily by full-time employees. This is thefoundational value of a consultant, allowing yourcompany to gain the consultant’s expertise withouthaving to make a full-time hire.GAIN EXPERTISE© 2 0 1 3 J O R D A N R I D G E L L C
  • 10. Many projects and strategies within an organization haveproponents and detractors whose objectives may be biasedby personal goals, office politics or business practicepreferences. A consultant may be able to find a "win-win"solution and can often be accepted by various parties as anobjective mediator in these differences of opinion.A consultant can look at the situation completely objectivelywithout regard for any internal preferences.OBJECTIVITY© 2 0 1 3 J O R D A N R I D G E L L C
  • 11. The expert status of a professional consultant addscredibility to their work and interactions. Companiescan leverage this credibility when using a consultantto represent them to other companies or industryorganizations as well as internally, rallying the staffaround goals and processes that are developedunder the consultant’s expertise.CREDIBILITY© 2 0 1 3 J O R D A N R I D G E L L C
  • 12. Companies, especially start ups and small companieswith limited budget and staff, can hire a consultantwho has many skills from years of varyingexperiences and who has a network of colleaguesand resources through which more skills can beaccessed. It would be difficult or impossible to hireenough full- or part-time staff, and to keep themfruitfully engaged, as opposed to hiring a qualityconsultant with a variety of skills.SKILL VARIETY© 2 0 1 3 J O R D A N R I D G E L L C
  • 13. The best value in hiring a consultant, perhaps even thenecessity to hire a consultant, exists when multiples of thesereasons apply to your company’s needs.This multiple value proposition is shown in the next slide fortechnology consulting scenario examples covering1. Due diligence on a company for potential investors2. A technology-driven start up3. A growth company struggling to keep up with their ownsuccess in a burgeoning marketCOMPOUNDED BENEFITS© 2 0 1 3 J O R D A N R I D G E L L C
  • 14. COMPOUNDED BENEFITS© 2 0 1 3 J O R D A N R I D G E L L CInvestor Due Diligence Start Up Growth Company
  • 15. Consultants can be valuable assets to any company and fill amuch needed void in the hiring landscape for available, cost-efficient expertise.Consultants are often considered for only one aspect of thevalue that they bring to a company but consultant value isgreatly compounded when the many benefits that consultingoffers are considered.The concerns that are generally raised about consultants arereally the same concerns that must be faced when making anyhire, full-time or part-time, and all concerns have mitigationstrategies to enable positive outcomes.CONCLUSION© 2 0 1 3 J O R D A N R I D G E L L C
  • 16. Read the blog and download the article atwww.jordanridge.comFOR MORE INFORMATION© 2 0 1 3 J O R D A N R I D G E L L C