Is your company looking into starting a new large project and considering hiring a consulting firm to assist? There are many consulting firms in Toronto and around the world, so you need to know how to choose the right firm that is going to fit your projectís needs. Many firms will boast expertise, skills, industry knowledge, customer satisfaction and project success, but with so many options you need to narrow down your list of consulting companies in Toronto to hire to a firm whose approaches, methodologies and provided roles are going to sync well with your needs.
The Toronto consulting firmsí market is highly fragmented; there are a large number of independent consultants to choose from, but also large global strategy consulting firms. It may be difficult to choose the right company for your project, as they vary in size, options, and expertise. There are consulting firms that specialize in just information technology, or just management consulting. With many options, you can pick and choose exactly what the project needs but first, learn a few secrets that will help you choose the ideal company.
Hidden Secrets of Consulting Companies
Secret 1: Distracting Sales Terms
Do not get caught up in superlative terms when considering management consulting firms; everybody is the "best." When you visit their website, ignore words like "best," "industry leader," etc. These words are self-promotional sales fluff. If a company uses them too often, especially without examples why they are the best, this can be a red flag.
Secret 2: Availability of Top Tier Partners
Every company has great teams working with them; will their best teams be working on your project if you hire the company? Find out who their top people are and find out if they will be available for you.
Secret 3: Not Having Something for Everyone
When looking at consulting companies in Toronto, you need one that has the appropriate strengths. Consulting companies with high quality teams have high expenses, which means sometimes they take projects that arenít exactly their strength as fillers during low times to reach sales quotas. You need to understand the companyís strengths, which youíll mostly likely find on their website. Choose a company that has the expertise you need.
That being said, there is also a downside to hiring management consulting firms that are actual industry leaders Ė they are expensive. If you are a small company, you may not be able to afford them. In this case you should still seek out the best Toronto Consulting Firm, but choose one that has experience working with small businesses, startups and entrepreneurs Ė and one that tailors a package of services for this market.
Choosing the Best Firm For Your Needs
With the knowledge of some hidden secrets, how do you choose which consulting companies in Toronto are right for your project? Ask yourself, do they have a wide range of competencies? Are they mainly in the area of markets and products? Do they specialize in one area? Are they a company that is involved in management consulting, such as The Burnie Group in Toronto? Donít go to the company with the narrowest specialization if your project may involve aspects from multiple markets or industries.
What services does the consulting company you hire offer? If they arenít going to be handling the entire project, they may outsource parts to another company themselves, resulting in loss of control of certain project areas. Alternatively, your company may end up hiring a second consulting firm to fill in the gaps, or to finish specific stages of the project.
Find out the history of the consulting firm, what industries have they worked in, and which markets they operate in. You can ask for references to companies that have hired them before to find out how well the firm performed in the aspects of quality, communication skills, flexibility and overall satisfaction. Also discover where they currently operate or have operated in the world in the past. There are a variety of markets in the world, so you want a firm with experience where your project is based.
In business, communication is key. How will the consulting firm be communicating with you, and how will they delegate responsibilities internally? Single points of communication allow for feedback to be properly redistributed within the consulting firm to the appropriate teams. A project manager is an asset as they will be able to supervise all the teams involved, and siphon information to you, the client, about every aspect of the project, and inform about any risks.
With all the information about the consulting firms in Toronto gathered, you can make an informed decision about whether their price value will be right for your project. You can choose an established company for their reputation, brand and experience; or choose a cost-effective smaller company for their attention and diligence to your project, out-of-the-box thinking, and increased flexibility for the projectís scope.