What consulting firms hire contract consultants for temporary or short term projects?
I am a business consultant and leadership coach who obtains referrals, but I also find that linking in with consulting firms that hire temporary or short term independent consultants, is also a vehicle to use.
What firms do you know contract consultants?
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Jun 12, 2013
Thanks for starting this discussion.
I am a Project Management Professional working primarily in the Life Sciences industry. Just started my practice in 2011 after over 20 years as an employee of various companies.
I did spend some time searching SIC codes for companies that might hire consultants and approached some of them with an introductory marketing letter. Not very successful thus far.
Looking for any names of firms related to that industry that would hire independent consultants like myself. Thanks, Brian http://www.linkedin.com/in/brianpiperpmp/
Jun 7, 2013
The large charities also hire consultants, to help develop organisational strategy, as well as financial. They also hire consultants when carrying out widescale ICT review and strategy.
Jun 12, 2013
That is great to know Ade, thank you so much for responding. Bernadette
Jun 4, 2013
Hi Bernadette,
I think the answer would vary quite a bit based on what you mean by business consulting. Since you mention leadership coaching, are the services you provide focused on management excellence in the HR realm for talent retention, etc?
Bill
Jun 6, 2013
Thanks Bill for asking... my sweet spots and expertise focus on general business management (strategy/business planning and implementation), as well as high potential talent development (executive coaching), especially where women leaders are concerned.
Jun 4, 2013
I dont witness this practice very much. As Mike said, its a pricing stack issue. You have to get to the clients directly.
And establish a partner network, work with them intently and be certain direct synergies are present.
Example contractors need engineers, they get a favorite partner and they both trade business. There is always more business to be had in a strong partner network, because all of the partners are prospecting for clients and or projects. OR THEY SHOULD BE> !
Jun 4, 2013
We routinely engage other consultants, engineers, architects, appraisers, surveyors, etc. for job specific tasks. Using this model (Protean Corporation) we are able to essentially have staff available at higher skill levels than we would be able to carry as employees. To do this effectively takes significant time and relationships (we have been doing it for over 20 years). All are treated as corporations or ind. contractors.
Jun 6, 2013
Ah, the model of shifting with the current demands and change of the business, economy, etc...? Very good, thank you. That is good confirmation, I appreciate it Stephen.
Jun 3, 2013
Bernadette: thanks for asking about the way larger firms subcontract consultants. As a communications/leadership consultant, I found the responses very helpful. I'm glad you asked this particular question. Chris
Jun 1, 2013
Every size consulting firm has a significant portion (30% to 70%) of their projects and functions outsourced to independent consultants or subcontracting companies. Seek out and find a match of services, values and client base and approach those consultancies who are reputable, are loved by clients, who pay fair fees and who pay on time as promised.
Be well
Sylvester
Jun 6, 2013
Syl, I appreciate that...as I do reach across the board to various firms. I should have been more specific in my question, asking for specific consulting firms those of you would recommend reaching out to, as you know that a specific firm does..... I am certainly researching, qualifying and approaching the firms as well.
May 31, 2013
In Europe at least Highland Group, ManTec, IMR, Proudfoot and Celerant use temps. Try those. :-)
IMPAc used to use a lot of contractors, but I am not sure how active they are nowadays.
Jun 6, 2013
Perfect Panu.... this is that my question should have stated...looking for specific firm names, that those of you would recommend me adding to my list of firms to contact. Thank you!
May 30, 2013
My experience is that most middle market firms provide subcontract opportunities for skills not available within the firm. But a personal relationship with the firm developed over time is required.. The best door opener is to introduce the firm to a potential client (s). Everyone reacts to back scratching.
May 30, 2013
Absolutely agree Gary...thank you. And that is what I am working on to do, as well seeking other firms to do just that. Thanks
May 30, 2013
It certainly is a good business model as long as you manage it appropriately. Just remember no matter what happens You are the one that is responsible for the outcome good bad or indifferent.. it becomes your job then to manage well and to stay completely in the loop. There are many large and small consulting firms that use this model.
Good luck.
May 30, 2013
You are so right Michael...and I take pride in that accountability and more so the results I provide clients. I have worked under this business model for years now, but am just rolling off of a 3 year client, so getting back out to connect and build relationships. Thanks for the tips
May 30, 2013
This is a very widespread practice. Two ways I have done this:
1. I may get a contract that is bigger than I could handle by putting together a team of sub-contractors to handle various phases. I'm prime contractor and responsible for the work. All payments come through me. The subs will get from 50% to 80% of what I bill for their work, depending on how irreplaceable they are.
I've also done this the other way, where I was the sub on somebody else's prime contract.
2. As a small consulting firm, we (my wife and I) are essentially a virtual company. We farm out many essential functions to a wide variety of other consultants and professionals. "Professional services" is the second largest overhead item on our P&L.
The big issue is pricing. How much do you mark up your sub when you bill your client for their services? My rule of thumb:
-- If it's your employee, you must bill for at least 3 times what you pay them.
-- If it's a sub-contractor who works under your aegis, bill for 2 times what you pay them. It's hard to get many consultants to agree to this, but look for those who will--if you want to make a profit.
-- If you're handing off a piece of a project to a top-level consultant who will essentially work independently, and take responsibility for their own work, then you may negotiate a lower mark up, but you should get at least 25%
-- If you're just referring work to another, maybe 5 or 10%. Or maybe nothing. I would rather have a return referral than a tiny referral fee.
May 30, 2013
Thanks Mike, I appreciate the feedback. I work in very much the same way, other than the second point in #2... I don't bill 2 times the amount if there is nothing more I am doing than resourcing them into the account. I simply mark up from 25-40%. And with referrals, as noted in point 4, I actually pay out and receive 25% for that referral and will continue to do so through a period of 12-18 months.
I love hearing about the various methods people use...as I am a big tester....
May 30, 2013
Law firms often hire contract consultants for overflow or to cover expertise that they might need on a particular case. I used to be a leveraged buyout lawyer and we often hired part time consultants for particular deals. For example, if there was a highly regulated industry and we did not have the expertise internally, we would hire a contractor. Also, I know many smaller firms that hire contractors when they get more deals or larger deals than they expect and cannot cover the workload with their internal staff.
May 30, 2013
Thank you Mary-Alice. Should you learn of specific consulting firms that hire business management consulting expertise or leadership development experts, would be open to collaborating. I appreciate your contribution out here in the forums.
May 29, 2013
Dennis, what do you do - seek out consulting firms or hire contract consultants?
Jun 5, 2013
I look to have a Strategic Partnership with consultants and find companies for them to have work. We are a Consulting Firm, with many moving parts to Help the clients we serve.
Jun 6, 2013
Dennis.... would love to discuss this with you. I will send you a private message with contact information, and/or if you want to list days and times, I will send a private note confirming.
I will certainly link in with you...and keep you in mind, as my business model is to also have a selection of consultants and coaches in my directory, in case one of my prospects or clients need something I cannot fulfill. Thank you