Getting strategy wrong–and how to do it right instead – McKinsey

In this short video, we delve into the first critical step in selecting the right consulting firm for your project: defining your needs. Before choosing a consulting partner, it's essential to clearly understand the scope of your project, the problems you're aiming to solve, and the outcomes you expect. We discuss how these factors guide you in identifying the right capabilities needed—whether it's strategy, process optimization, or IT transformation—and help narrow down the types of consulting firms that best fit your requirements.

We also explore the importance of industry expertise and cultural fit, and why finding consultants who resonate with your organization's values can be as crucial as their technical skills. Tune in to discover what it takes to make an informed and strategic choice when selecting a consulting partner!

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When it comes to optimizing consulting spend, you're not just fine-tuning a few processes—you’re fundamentally shifting how your organization selects and manages consulting services. And let’s be honest, that kind of change often faces resistance, especially from the top. To succeed, you need everyone on board, from procurement to senior leadership.

At Consulting Quest, we rely on John Kotter’s 8 Steps for Leading Change, a proven framework to ensure smooth transitions and lasting success. Optimizing consulting spend touches every part of your organization, so getting buy-in, communicating clearly, and embedding new practices is essential. In this episode of Smart Consulting Sourcing Podcast, your host Helene will take you through how we use Kotter’s model to help organizations like yours get the most out of their consulting spend. Tune in!

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In our latest video, we discuss the common pitfalls in negotiating a contract with a consultant and how to avoid them. Unlike traditional negotiations, consulting deals hinge heavily on trust and collaboration. We cover why negotiating too much or too hard can be detrimental to your long-term relationship with the consultant and why it’s crucial to strike the right balance.

Discover how a well-balanced negotiation can set the tone for a successful project, without compromising on the quality of work or trust. If you're navigating a consulting agreement, this video will provide practical insights to ensure you secure a fair deal without jeopardizing the project’s success. Watch now to learn how to negotiate smarter, not harder!

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In this video, we tackle a common challenge in consulting negotiations—what to do when the perfect approach from a consulting firm exceeds your budget. We’ll walk you through a strategic solution: "design to cost."

Instead of starting with scope and then adjusting the price, we explore how you can reverse the process by starting with your budget and shaping the project accordingly. This method can streamline negotiations, avoid back-and-forth delays, and ultimately lead to a more collaborative and effective relationship with your consultants. Watch now for actionable insights!

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If you are a professional in consulting and are looking to level up and learn more about the industry, visit the Consulting Quest website at: https://consultingquest.com

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In this video, we explore how you can leverage competitive bidding as a powerful tool in negotiating with consultants. Building a healthy competition among relevant competitors is crucial, and it’s not just about driving prices down—it’s about encouraging innovation in how consulting firms structure their proposals. We discuss the importance of giving all contenders a fair chance, focusing on scope, expertise, and the ability to deliver real value.

Learn key strategies for fostering competitive bids and securing the best outcomes in your consulting projects. Watch now for insights on optimizing your consulting negotiations!

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In this short video, we unpack how much you can negotiate with consulting firms and why it's not as straightforward as it seems. Discover why a 5% discount is almost always built into the price and how pushing beyond that can lead to trade-offs in scope or staffing quality.

We delve into the concept of asymmetric information and explore how consultants control the levers of the proposal, making it crucial to understand what’s truly negotiable. Learn how to approach negotiations more strategically by prioritizing the parts of the project you can be flexible on and using the "design-to-cost" method to match your budget.

If you're negotiating with consulting firms, this video will help you strike a balance between value and price. Watch now to gain actionable insights!

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In this video, we discuss the importance of assessing expected value before entering negotiations in consulting. Understanding the potential value of your project is crucial; without it, you may find yourself negotiating ineffectively, either overpaying or undervaluing the consultant's expertise.

We explore the risks of prolonged negotiations, including the potential for lost time and opportunities, particularly in competitive markets. You'll learn how to determine your negotiation limits based on expected value and why sometimes a straightforward approach is more beneficial.

Discover effective strategies, such as performance-based fees, that can align consultant compensation with project outcomes. Join us as we navigate these essential elements of consulting negotiations to secure the best deals that deliver long-term value. Watch now!

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If you are a professional in consulting and are looking to level up and learn more about the industry, visit the Consulting Quest website at: https://consultingquest.com

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Ready to tackle negotiations with consulting firms? In this short video, we dive into the essential preparation steps that can make all the difference!

Join us as we explore the unique world of consulting negotiations, starting with how to compare proposals and pinpoint the must-haves versus the nice-to-haves. You’ll be guided through setting a realistic budget based on the value you expect and what you're willing to invest.

But that’s not all! Discover why having the right team in the room is crucial for success and how a collaborative mindset can transform negotiations into a partnership rather than a battle.

Whether you’re a seasoned pro or new to consulting negotiations, this video will help you prepare effectively. Don’t miss out—watch now and empower yourself to negotiate like a champion!

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If you are a professional in consulting and are looking to level up and learn more about the industry, visit the Consulting Quest website at: https://consultingquest.com

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In this short video, we explore why negotiating for consulting is fundamentally different from other types of negotiations.

We delve into the intangible value proposition of consulting, which includes intelligent methodologies and the complexities of measuring impact. Discover the key elements that should be considered during negotiations, including the breadth and depth of expertise, staffing, timelines, and the intensity of support.

We also discuss the critical legal aspects such as intellectual property rights and conflict of interest, emphasizing that everything is negotiable and has a price.

If you’re a leader negotiating consulting services, this insight will help you look beyond the basics and secure deals that drive long-term value. Watch now to discover the key elements you should consider!

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If you are a professional in consulting and are looking to level up and learn more about the industry, visit the Consulting Quest website at: https://consultingquest.com

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