How an engagement runs
Five stages, and the staffing commitment is settled before the fee is agreed.
Scoping conversation
What the decision is and what would make the work useful. Without charge, and it sometimes concludes that you do not need a consultant for this.
Staffing and hours committed
The individuals who will do the work, their committed hours, and the terms for substitution. This goes in the engagement letter before the fee is discussed.
Baseline and evidence
What is measurable now, observed directly rather than gathered in workshops, so the position before the work is documented.
Analysis and recommendation
Findings reported in full, including those that argue against the course you were considering, with a documented dissenting view where the team disagrees.
Handover and hour reconciliation
Models and documentation transferred, and the final statement of hours delivered by individual against what was committed, with any shortfall credited.
What this approach costs us
We forgo leverage. Capping juniors at one hour per two senior hours removes the margin structure the consulting industry is built on.
We decline work. When contracted senior capacity is full we turn engagements away rather than staff them with whoever is free.
We credit ourselves down. Shortfalls against committed hours are returned automatically, including ones a client would never have spotted.
We take no contingent fees. Success and transaction fees pay considerably better and give us an interest in a particular answer.
Frequently asked
What exactly goes in the contract?
The individuals by name, their committed hours, their rates, the maximum junior ratio and the terms under which anyone could be substituted. Substitution requires your written consent.
What if someone leaves the firm?
We propose a specific named replacement for your agreement rather than assigning someone at the same grade. If you decline, we discuss reducing scope or ending the engagement.
How are shortfalls handled?
Automatically. If a named person delivers fewer hours than committed, the difference is credited on the next invoice without you raising it.
Do you take success fees?
No. Fixed fees against scope only. A contingent fee gives us an interest in a particular recommendation.
Will you tell us not to proceed?
Regularly, including on due diligence where the finding argues against a transaction we would otherwise be paid to support.
Why cap the junior ratio?
Because leverage is how thin work happens. One junior hour per two senior hours keeps the analysis close to the people who understand the business.
Do you ever turn work down?
Several times a year, when contracted senior capacity is full. It is the only honest consequence of committing hours by name.
Who owns the models?
You do, on completion, with documentation your own team and advisors can work from without us.