Congratulations to IMCUSA member, Bill Conerly, for his recent article in Forbes - The Value of Management Consulting: Proven.
Here's yet another reason a consultant shouldn't underprice their services. In his article, Bill references a formal study by the World Bank that shows "first year economic benefits exceeded the cost of consulting - with later years' benefits pure gravy."
While the study examined foreign companies, after reading the study Bill is convinced American managers can learn a lot from it - and it's applicable here. There's a list of 38 good management practices that managers can review and self-evaluate. Bill has added two that he feels are missing from the list (and his reasons why he adds them): sales and pricing.
His four suggestions for a company wondering if there is room for improvement are:
TIP: Click here to read the complete article
- Bring in a consultant with a broad background to help you identify areas of focus.
- Bring in expertise to focus on the areas most ripe for improvement. That might be your first consultant or it might be a specialist.
- Evaluate your results.
- Look for the next opportunity for improvement.
and reference links he provides. Dr. Bill Conerly of Conerly Consulting LLC can be found on the IMC USA website by clicking here