Frequently Asked Questions
Here are answers to some of the most common questions.
What differentiates Impact Consultancy LLC from other consultants and/or consulting firms?
Impact Consultancy LLC offers the depth, rigor and scope of impact delivered by firms such as McKinsey, Bain or Boston Consulting Group but at a fraction of the price. Larger consulting firms bill their employees at $50,000 per consultant per month, which on a four person team adds up to $2.4 million in annual consulting fees (all of which are typically paid independent of performance). Further, larger firms typically bundle case teams, requiring clients to accept less experienced analysts and associates (usually with no more than one or two years experience out of college or graduate school) if they want the experienced engagement manager who typically drives the analysis and insights.
Impact Consultancy LLC is very different. We are typically 100% vertically integrated, i.e., we are uniquely structured such that all of the most detailed analysis and highest strategic thinking is completed by the most senior and experienced advisor. Thus, you receive the highest levels of service and you only pay for that level of output.
If a client prefers to avoid larger upfront consulting fee payments and/or tie some of our compensation to performance, we are also unique in that in many cases we are willing to waive a portion of our upfront fees in exchange for an agreed upon percentage of the improvements generated by our analysis. We are usually able to offer this because we are confident in our ability to deliver tangible, meaningful results. As a result, clients are assured that their risk exposure is managed to their needs and our incentives are aligned to deliver results.
Do you work with companies oustide of the media industry?
Yes, we do. Other clients we have worked with (either independently or in partnership with other consultants) include Bank of America, Boeing, Nordstrom, Dow Chemical and others.
How do you charge?
The form and rate of billing depends on the unique needs of the client. The most common arrangement is a flat fee (divided into payments spread over the duration of the engagement) that is based on an estimate of hours worked to deliver a specific set of outcomes and analysis. If a client does not have a firm sense of what it wants, fees may be charged on an hourly basis.
In some instances, Impact Consultancy LLC will consider waiving a portion of its upfront fees in exchange for a contingency that is paid only when quantifiable results have been delivered to the client. If the client does not achieve actual improvements, those fees are not paid to Impact Consulting.
What can I expect in terms of a return on my investment by hiring you?
Like the fees paid, the return that a client can reasonably expect to generate varies depending on its unique circumstances, the type of work completed, the degree to which the client implements the reccomendations made, and many other factors. However, it is often the case that the fees paid are more than offset by annual operating improvements by a factor of 5-10x greater than the fees. Such an improvement on an annual basis usually implies a return on investment in excess of 200%, which is far greater than most capital improvement projects under consideration by our clients.
Said differently, hiring Impact Consultancy LLC can often be the best investment you can make in your company.