20 Myler Street, Hamilton, Ontario L8L 6E6
20 Myler Street, Hamilton, ON L8L 6E6
Steel City Advisors
WORKING WITH STEEL CITY ADVISORS
The shareholder's interests (or in the case of a private business, the owner) and the management team must be internally aligned when hiring a consultant. The right external consultants can be a valuable resource to you and your business.
If you want to get an extraordinary payback from hiring a business consultant, then make sure your management team can spell out exactly what problem you want to solve or what you want to know. To do so, the client must think through the problem they want solved and together with the consultant, make the deliverable for the engagement a solution to the problem. You must feel comfortable fully discussing any background with the consultant and ensure the necessary confidentiality agreements are in place. The Steel City Advisors satisfaction guarantee and confidentiality policy ensures that a client gets his or her expectations met while protecting the confidentiality of the assignment.
Advantages of Engaging a Consultant
The chief advantages tend to be that you can engage the right expertise with proven experience just when you need it. Steel City Advisors can work on the business problem while the primary attention of the management team can be focussed on running the business. Other advantages include the breadth and depth of experience Steel City Advisors Associates bring from solving similar problems, thereby delivering the result faster and at a lower cost of trying to solve the problem with internal resources. Steel City Advisors will transfer knowledge to members of your organization, adding capacity to your organization’s ability to internally resolve other problems. In other words, Steel City Advisors teaches members of your organization something.
Disadvantages of Engaging a Consultant
Some consulting firms lack the mix of experience and expertise you need to solve your specific problem and either narrow the scope of the assignment or engage additional resources thereby not meeting the deliverables or cost expectations. Having a consultant that does not roll-up their sleeves to contribute directly to the research and analytical legwork may not provide the kind of added capacity that you want or need. In some circumstances, the organization’s employee and the consultant have difficulty attaining a collaborative working relationship. And lastly, if the consultant wraps up the task and your organization hasn’t learned something substantial in the process then you haven’t strengthened your organization at a strategic level. To avoid these pitfalls, check client references for consultants that you plan to engage.
Steel City Advisors Fees Are Reasonable.
There are many ways a consultant can charge for their services. Many Steel City Advisors' clients prefer a fixed price agreement (including local travel and customary expenses) for the deliverables they want in their desired time period. A fixed price agreement provides the client a clear cost and understanding of what they are buying. It means that you pay for performance - not for time talking about the problem. The fixed cost agreement structure specifies a modest upfront payment followed by progress payments, as the Steel City Advisors engagement unfolds. For smaller engagements, Steel City Advisors recommends fixed hourly or daily rates to allow the client flexibility to increase or decrease the scope of work.
Steel City Advisors Satisfaction Guarantee
All client engagements begin with a clear understanding of the project approach and deliverables. For fixed price agreements Steel City Advisors offers contract terms which provide a Customer Satisfaction Guarantee prior to closing and final payment.
Steel City Advisors Confidentiality Policy
It is the policy of Steel City Advisors Inc. to hold, in confidence, the affairs of its clients. Steel City Advisors Inc. its’ principals and associates will not use any information provided to them by or on behalf of the client that would reasonably be expected to be treated as confidential except in connection with the services to be provided. Steel City Advisors Inc. its’ principals and associates will not disclose such confidential information to any third party in connection with the services provided. Steel City Advisors Inc. its’ principals and associates will not make available to the client confidential information that Steel City Advisors Inc. has obtained from any other client or that Steel City Advisors Inc. may have developed or obtained in connection with other activities.