Our Story . . . Continued
How Big Firms Work
Big firms are typically made up of some of the best and brightest candidates from all over the world. We know this first-hand, because before joining JMD Consulting Group, many of us worked at some of the largest multi-national accounting, legal, and consulting firms in the world. To attract top talent, these big firms offer high salaries and extensive benefits but it does not stop there. These perks also include working from offices located in some of the highest rent districts in the world. Since you want the best people for your matter, these big firms sound like the perfect ones to engage, right? Maybe, but there are several things you should consider.
Your Budget and How Quickly it can be Exhausted
If these big firms are paying big salaries, bonuses, perks, high rents, etc., who do you think is ultimately paying for it? You, the client. And remember, you will be paying these fees whether you "win or lose" and whether you "see any results or not." So, engaging these firms with the wrong scope (e.g.: too broad or unrefined), or allowing these big firms to go unmanaged with little to no oversight, could yield disastrous results for you. And, if you decide mid-way through your engagement, that the bills are just too high for you, you may find yourself with two big negatives. One, you may be forced to stop the engagement before you see any real results, and two, you could have wasted every penny spent on the engagement. Not a good scenario.
What Are You Really Paying For?
To cover these big salaries and perks, these big firms tend to increase their rates. How high? Let's put it this way, you could end up paying the same rates or less for a senior partner at JMD Consulting Group, as you would be paying for a junior associate at a big firm who is two years out of school, with little to no experience. And if you are not a Fortune 500 Company, chances are you are not even getting the best junior associates they have. At JMD Consulting Group, all of our senior partners have big firm experience so it's like getting the Rolls-Royce for the price of the S-Class Mercedes-Benz.
Define "Experience"
Let's be honest, sometimes the best and brightest candidates, the kids who do the best in school, are coddled their entire lives and despite many of them not being "battle-tested" and lacking any "real world experience", somehow, they end up at the "big firms" and somehow, they end up on your account. Perhaps you would not mind it if they were billed out at a low rate, but the reality is, most of them are billed out at higher rates than many of the partners at JMD Consulting Group. JMD Consulting Group was formed, in part, to fix the inequities of this very problem.
Why Clients Engage Big Firms
Most times, clients go to Big Firms because they are seeking professionals with Big Firm experience. But what if you could get professionals with "big firm experience" without the "big firm" overhead? What if you could get "big firm experience", at "small firm rates"? Well, that is JMD Consulting Group. JMD Consulting Group brings a diversity of skills and years of experience to every engagement we take on. From some of the largest Fortune 100 companies, to hundreds of small business entities, our executives have consulted on a broad range of clients and issues, allowing them to bring their years of experience to your specific matter. And if it turns out that we believe your account needs a large firm for any particular aspect of your engagement, we will help you with that process only, under our protocol, we will help you: a) define and control the scope of services, b) set and oversee the budget(s), and c) manage the account so your project remains as efficient as possible.
Big firm experience, small firm prices. JMD Consulting Group is here to help you. Give us a call. We would love or hear more about your issues.