Why You Should Use a Niche Consultancy

7/31/2019 Why You Should Use a Niche Consultancy

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An Animated PowerPoint Template


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Every business occasionally needs outside help. Evenwell-run giants deliberately choose to bring inconsultants on a regular basis to cover key strategicand important areas. One HP executive as allegedlyasked why she hired outsiders so frequently, shereportedly answered, "So we don't exclusively

breathe our own exhaust.

An outside consultant offers many advantages:

Objective advice, not geared toward politicaladvancement or promotion.

Frame of reference and best practices from other clients.

Models and methodology to gain results more quicklythan internal trial and error.

Permanent transfer of skills to internal people.

Industry cross-skills training as well as own professionaldevelopment.


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A paradox to this, however, is that externalconsultants can often create as many problemsas they solve.

These potential issues include:

Employees threatened by the mere presence of an

"outsider." Senior Managers threatened by mere presence of

experienced outsider

Reliance on "off-the-shelf" methods which don't fit thecurrent client very well.

Lack of sensitivity to the client's business, culture, andenvironment.

"Ideal" solutions not really practical for the client'sbusiness.

Pigeon-hole appraisal of clients needs


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CEI has been consulting for a number of yearsand, to our continuing astonishment, we find

currently that about 50% of those calling

themselves "consultants" don't really know what

they're doing;

but almost 90% of those buying

consulting services don't know how

to tell the difference!


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Chemistry: Meet with the prospective consultantseveral times before hiring. Ask yourself if you see the

other person as a peer and a potential partner. If you

don't respect them, or see them as merely a vendor

or subordinate, don't hire them. You don't need

another employee; you need a business partner, evena mentor or professional guide for a particular issue.

Demeanour: The individual should look professional

and act accordingly. (Don't worry if you get their voice

mail because good consultants should be busy. The

key is, do they get back to you promptly?) Their

language should be clear and articulate. At meals,

they should know which silverware to use and not

spill their soup on your lap or theirs.


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Proposal: The consultant should provide you with aproposal that is based on achieving clear businessoutcomes, and not on merely delivering technology ormethodology. In other words, running focus groups,performing a gap analysis or delivering training programs issimply a task; an activity, whereas improving sales results,accurate completion or analysis of needs, providing robust

and suitable recommendations or enhancing customersatisfaction is a business outcome. Achieving the formerwithout the latter is worthless. Measuring the former ispointless.

Fees: The consultant should provide a fixed fee for theproject. Hourly or daily rates are not as effective, becausethere is a "meter running" as long as the consultant isworking, and there is a built in conflict of interest, since thelonger the project takes, the more the consultant is paid.Insist on a fixed fee or at least a cap on the hours. If thereis no clock running when you need to discover possibilities,there is no pressure to form solutions.


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A good consultant frames an issue quickly butdoesn't suggest solutions too rapidly as they

realise that they don't know what they don't

know until they begin to gather more data. A

good consultant will not promise the moon and

the stars, and will never base an approach on

tests or instruments that are borrowed or

purchased for a few pounds from other

companies. You get what you pay for.

A good consultant is someone you'll hate to seego when the project ends on time, and who you'll

want to invite back at the first appropriate new

challenge.


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Generally, No. Its usually just more expensive.

Fortunately, there are more positive

alternativesto using a niche

consultancy compared to the Accentures,McKinseys or the big accountancy firms like

Deloitte, E&Y etc.

We not only consider that size doesnt matter,but large size can actually be a disadvantage in

meeting your needs.


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You are always dealing with the principalwhenyou are dealing with my firm. This means that I amthe relationship manager and there is no juniorpartner to whom responsibility will be transferred.There is no decreased accountability, no "hand-off" toa less-informed colleague. If your interests are atstake continually, shouldnt you reasonably expect mycontinual involvement?

We can usually provide resources on a "just in

time" basis. That is, our projects do not have to coverexcessive overhead, such as multiple offices, largeadministrative backup, recruiting, partner perks, etc.We are organized to efficiently provide everythingthat you, as the buyer needs, but nothing more thanthat which means that you are paying for value andresults and only minimum overhead.


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There is more likelihood ofyour privacy andconfidentiality being observed with fewerpeople working on the project. We (and/or the

few people we might also involve) are constant

which means that there isnt the need to siftthrough dozens of differing perceptions.

Were faster. We can respond to requests

quickly, and return all calls within four hours

which means to you that there is no need to

worry about a bureaucracy, delays and unknown

people on the other end of the phone.


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Since we handle fewer concurrent projects thanlarger firms, our attention is focused on the job at

hand. This means that you dont have to "compete"

with another dozen or so of our clients, which may be

larger, paying more or are more time-demanding. We

structure our work so thatevery client receivesmaximum attention.

Your investment is controlled. There is no "meter

running". We work for a fixed, value-based, project

fee. Large firms cant afford to do that as readilybecause of all the people involved and their own

insistence on measuring their success by billable

hours. We measure our success by client objectives

reached, not in time units.


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The expertise that larger firms use is often white-labelling for them by a pool of consultants

available in the marketplace at any one time. We

select our consultants frompractising subject

matter experts which means that you obtainthe same or better expertise for less money,because;

Inevitably, we are less expensive. There are

economies to using someone who can base theirfees on each situation and not on a pre-

determined service scale or need for reaching a

practice quota. This means quite simply better

value to you.


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The benefits of dealing with the ComplianceDoctor and CEI Compliance is;

A firm with experienced and qualified

former advisers;

A firm that can apply changes and needs ina common sense way that is practical and

effective;

A firm that is considered and respected as

independent and reliable by the FSA;

A firm that provides you with unfettered

access to the principle immediately and on

demand;


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We will conduct an initial appraisal at our cost only charging for expenses

We will make a proposal based on our

appraisal with your outcomes and needs

We will discuss the precise scope with youand provide you with a project price

We will complete the work to your original

scope and satisfaction

Phase 1

Phase 2

Phase 3

Click Mouse Reveal Next Phase

Phase 4

Each proposal deserves

to be as unique as a

fingerprint


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text.

We have a wealth of Financial Services Experience, and due to

the remedial nature of our work forming over 60% of ourbusiness and that is conducted under a Non Disclosure

Regime, we cannot demonstrate every client.


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We Do have a large

amount of experience in a

number of other fields andindustries within the major

utilities and even Local

Authorities.


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We can provide all manner of assistance in

Initial risk assessment or audit an initial analysis toidentify higher risk areas of the business and weaknessesin procedures. We also do risk management design.

Business development business analysis advice oradvice on particular issues for example, how your firm isTreating Customers Fairly and an action plan for

implementing TCF across your business. Help with setting up procedures for example procedural

manuals for recruitment, training and competence,complaints handling and anti-money laundering. May alsoinclude templates for disclosure documents, fact-finds andregisters.

File audits checks to ensure that procedures are beingfollowed and identify good practices and weaknesses

Complaints Handling cost effective and project managedfrom start to finish making your response robust andconsistent


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We can provide all manner of assistance in;

Technical support may include advice on particularproducts or regulatory reporting. May be available invarious formats, including website, helpdesk and individualtechnical advice.

Training for example competency assessments, trainingopportunities or product risk guidance. May be online

support, regulatory updates or seminar based. Support on individual issues for example in dealing with

a complaint, a financial promotion or a particular suitabilityletter.

Financial promotions (all areas of advertisement) - fullsupport which would include websites, brochures, DVD's,

email templates, client mail shots, adverts, contactingexisting clients and so on.

Remedial work helping to action remedial workrequired by the FSA.

And much more just ask!


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CEI Compliance Limited

www.cei-compliance-limited.co.uk

Tel 0800 689 9 689 (UK)

Tel (+44) 7092 289901 (Int)

We operate across the UK, Europe

and the Middle East.

Currently exploring opportunities in

Latin America

Why You Should Use a Niche Consultancy

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