We shared many times why you need a consulting firm for your business.
It is for strategic planning to:
- Build a strong foundation (business and revenue model, team, steady cash flow, and brand)
- Grow and scale (expand market and business, adapt to changes, grow your brand and secure funding).
Now comes the second half (the climax) of the story:
What should you look for in one and how to find the top consulting firm for your startup?
That’s what our blog will enable you to do today.
Here are the 4 steps to follow to find and form a team with a top consulting firm that enables you in strategic planning and execution.
- First, Know Yourself Better
The first step you have to take in your journey of joining hands with a top consulting firm is to get clarity on what you need from them.
You have to answer these questions for that:
1) What stage is your business in (initial days, steady growth, profit or loss)?
2) Which area do you need their help in (business foundation, growth strategies, or expansion)?
3) What results do you expect from them?
4) How much are you willing to spend/ give them for the value they offer?
After finishing this activity, you’ll better understand where you stand, where you want to go, and what help you want from them.
You can now begin your basic research by spreading the word in your social circle (with friends, family, colleagues, partners, and in your network) that you’re looking for a consulting firm.
- Search for Some Consultancies and then Compare:
You now have a clear picture of what you are and what you want from your business consulting firm.
You have spread the message among your network and can confidently take the plunge forward and start your research.
You have to look out for these details in your search:
1) Categories they have served before. (Have they worked with any brand in your domain or a category closely similar to yours?)
2) Whether you are their Target Audience or not.
3) What impact/ results have they delivered to their clients?
4) Where are they located? (If your business focuses on stores, someone well-versed in your geography will be your pick).
5) How much do they charge?
You can go online (there are many online channels) and build your first list of Consultancies.
You can then compare them against each other (using the above-mentioned factors) and shortlist the options that will give you the best value (both in monetary and outcome terms).
- Finalize Some and Dig Deep:
The last step will give you a list of Top Consulting Firms you can work with and get value.
You now have to apply one last filter to your list and evaluate them on these things:
1) Their vision and values, the way they work, and their interests – whether it aligns with yours or not.
2) Their team members – whether the people you’ll join hands with are innovative, experienced, and consistent enough to give you the promised results.
You shouldn’t leave this step out in your journey, and we can’t emphasize enough on it.
Your goal is to find a partner to work with you and be on the same page to build a healthy working relationship.
Note: When we say, “Be on the same page”, it doesn’t mean you both won’t/ can’t have different thoughts and methods.
It means that both sides hear each other and can willingly come to a mutual decision.
- Lastly, Approach
Finally, you have your final list of Top Consulting Firms that have aced all the factors you applied.
The last thing you have to do is meet them and discuss business.
Your first interaction and negotiation will give you the last bit of confidence you need to decide who will work with you.
You’re now all set to search and choose the top consulting firm for your startup.
You can connect with us to unbox how you can find the right consulting firm or to know how we can help you with the same.
Pandora’s Box is a Top Consulting firm for startups that offer strategic planning and execution to enable them to achieve their business, branding, and marketing goals