🎩 The Bait and Switch of Consulting
Beware the eloquent consulting veterans pitching their services. The real work is often done by bright, inexperienced youngsters. They come at a high cost, covered in the luxury of fine dining and upscale accommodations - all on your company's dime.
🔍 The Initial Frustration and Eventual Brilliance
At first, these consultants may seem more bothersome than helpful, inundating your team with questions and data requests. But with time, their intelligence and determination might just win you over - or they'll be discreetly replaced.
🐙 "Land and Expand": The Consultant's Creed
Consultants are experts in subtly extending their services. What starts as a two-month project could easily sprawl into a year, infiltrating various aspects of your business from cost-cutting to IT solutions.
🎣 Poaching Talent: A Double-Edged Sword
Tempted by their expertise, you might hire consultants directly. This can be beneficial, but be cautious with your budget. Remember, a consultant's primary loyalty often remains with their profession.
🧐 Question Everything
Take consultants' recommendations with a grain of salt. Halve their projections, scrutinize their benchmarks (which I often made up), and pay close attention to the fine print. Be especially wary of reports suggesting increased budgets for your employees.
🛡️ Use Consultants as a Shield
As a CEO, some of your ideas might backfire. Consultants can serve as a convenient scapegoat for failed initiatives. Conversely, if they come up with a winning idea, make sure to claim it as your own.
🤹♂️ Playing the Field: A Strategy of Polygamy
Don't fall for the allure of an exclusive relationship with a single consulting firm. Hire multiple competitors and let their rivalry drive them to deliver better results for your company.
🌐 The Ambiguous Impact of Consulting
The consulting industry prides itself on creating "impact", though the exact nature of this impact often remains elusive. Despite its imperfections, consulting can be a valuable resource for any executive, provided it's navigated wisely.
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