Hiring a Business Consultant

1,623 Views | 7 Replies | Last: 2 yr ago by MS08
chn4
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12:14p, 5/30/23
Our small, but fast growing distribution company is in need of a business consultant to help restructure our company, ownership change, tax, organization, etc. We brought it a big company that spent 2 days doing a presentation explaining how bad we needed them and then guaranteeing a 2:1 return in the first year, but the pressure to commit just didn't feel right and the price was an inordinate amount...something I don't see how any small business could afford.

Are there any local, trustworthy, and affordable business consultants in the DFW area that anyone would recommended or is there a different route you might suggest we take?

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mosdefn14
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1:32p, 5/30/23
AG
Former "big company" consultant. We would say the difference in us and the other big guys was that we'd actually do the work not just hand off a power point with ideas.

We weren't cheap by any stretch of the imagination, but we would do a lot of our work expenses + contingency. These could be huge pay days for the partners on the project or they could be busts.

Under that arrangement ,initial outlay would be pretty minimal, with a big back-end if the promised savings/growth was achieved. Did they offer a pricing model like that?
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Red Pear Luke
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2:14p, 5/30/23
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AG
Troy Weber. Used to be pretty high up at Texas Instruments and was key in helping them fix production and other factory level issues. He's since retired and became a business consultant. Very knowledgeable, honest and Christian. All around great dude and he's DFW based. He's one of my fish buddy fathers and can't speak highly of him enough.

https://troyweber.focalpointcoaching.com/about-me
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Buck Compton
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5:00p, 5/30/23
AG
Former top-tier consultant here for the better part of a decade, but now I'm a senior executive of a PE-backed middle-market distribution company.

When you say "small, but fast growing", that can mean a lot of different things to different people. Would need to know employee count and revenue/gross margin and what that growth trend looks like to know what was the right channel for you. Anyone who is guaranteeing you some set dollar or percentage return in the first year is someone to run away from. How can they possibly know without knowing your business? And if they were that confident, then they should be very eager to work on minimal fees and only take a portion of the savings over the next few years.

Maybe a formal shop makes sense if you're bigger, but maybe just a one-man shop or just a good CPA makes sense because you're still really small. Hell, maybe I can help for pennies on the dollar.
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dtdag
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11:18p, 5/30/23
AG
Shoot me a note and I'll see if we can help or if I can point you in the right direction.

jmprewitt@prewittcpa.com
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chn4
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8:38a, 5/31/23
Thank you guys. We have been in business for 3 years, but in the past year have grown from 4-10 employees, and from $1.5M to over $5M in sales.

That big consulting company definitely did not offer a minimal arrangement up front.
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Buck Compton
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In reply to chn4 • 9:04a, 5/31/23
AG
chn4 said:
Thank you guys. We have been in business for 3 years, but in the past year have grown from 4-10 employees, and from $1.5M to over $5M in sales.

That big consulting company definitely did not offer a minimal arrangement up front.
Yeah, you don't need a consulting company. You need an individual who understands small businesses and can give you some advice/support. Might just be a CPA type. Happy to talk offline and give you some guidance for free.

Email at buckcomptontexags at gmail and would be happy to chat this week.
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MS08
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In reply to chn4 • 8:35a, 6/1/23
AG
Also, dtdag/presumably CPA above looks like an option worth reaching out too as well. That's TA for ya! Love it.
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