Cogent Strategies provides consulting, but not in the way that many other firms do. We are focused on providing tangible financial results by working hands on, right beside the existing management team. Companies are in a variety of stages of development. The answers are not cookie cutter and the challenges are real, particularly in today’s economic environment. We take a holistic approach with our clients.
We work with clients in three ways to achieve a greater level of success. First we agree to provide a Business Snapshot, a quick view of actions that can be taken to move the business forward. It lasts only a few days and we talk with key management and employees, review the financials, take a look at the key performance indicators used by the team to manage operations, and review product and business strategies. Improvements begin immediately from this work. While executing on the low hanging fruit, we look more deeply at the organization and in conjunction with management lay out a project plan for running optimally, implementing as we go. We then continue execution on that more detailed plan. The key is to move quickly and achieve results early on, particularly if the organization has been in a loss position.
The client brings the institutional knowledge regarding clients, markets, and performance. Cogent brings a top notch team with extensive management experience and an external perspective. Our collective responsibility is to achieve improved results. Cogent’s only fees in executing the detailed plan are a percentage of the improvement in the overall profitability of the company. We are completely aligned and have the same goals, growth and profitability of the organization.
We work with a variety of industries. In proceeding through our implementations, we look at everything that could make a difference in the performance of the organization. Companies are typically in the $5-100M range in revenues, although we work with smaller companies. We have performed work under a number of circumstances. Most of our clients fall into two general developmental stages. The first are those who have hit a tough patch. They are either losing money or have had a significant fall off in performance. Time is usually very important in these cases, because the very survival of the organization may be at stake. The second is the business that has grown and performed nicely, but has reached the limit of what the owner/founder can do on their own or the management is not sure how to get the company to the next level. The owner may feel that growth is slowing or maybe the world has simply changed and not quite sure how the business has to adjust in order to continue to grow.
The key thing is that we get results, coming in to work with and beside you. It is our collective responsibility to achieve the results in the plan. For the implementation phase we only get paid based on the bottom line results we together achieve. So if you know of a company that could use superior management talent honed in a number of businesses in the middle and large company market, than give us a call at 303-459-4870 and of course reserve us a desk.
Everyone will agree that an effective consulting engagement is one that concludes with both parties in agreement that requirements were met exactly – with on time and on plan deliverables. What’s so hard about that? Well, when the engagement is contemplated in an environment of financial constraints, the respective parties bring differing viewpoints that are not joined. In the end, some don’t do what they could or should and others are unsatisfied with outcomes.
Clients seek subject matter expertise, problem-solvers and solutions – an involvement that respects internal knowledge but offers external credibility. Consultants seek clients that are open to fresh thinking, people who have a serious stake in outcomes and a desire to follow through. Both parties must be definitively committed to key points in a plan, starting with an explicit vision and ending with quantitative outcomes.
Why is it that so few engagements commence before financial constraints encumber the process, and are there ways to manage exploratory processes to start turnarounds earlier? First, prospective clients need to believe that consultants truly offer something that they can’t do for themselves. Although skills within the client organization may be sufficient to address problems, these resources may not be available to meet the need. They may be deployed on other priorities or constrained or, frankly, paralyzed. Second, consultants may appear too superficial in evaluating the circumstances or too ready to take precipitous action, or far too expensive. In either case, the apparent cost is higher than the perceived benefit. There is no clear intersection of need, no measure of benefit with accountability for achieving outcomes crucial to the client.
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How do we navigate points of possible contention? When considering the horns of a dilemma, it’s often best to jump right into the middle. Explicit discussion about desired outcomes can lead to development of a plan outline. Frank comparison of the level of need and the cost of consulting is crucial, a discipline diagrammed below, including use of internal resources and unique consulting capabilities. Consultants must understand that they provide a grout to supplement internal resources and bind the client organization to a mission, a respectful responsibility to challenge the status quo and an accountability to monitor progress. Objectives must be to educate and coach, to conclude the engagement with the client organization in position to prosper – measured against explicit plan objectives. Finally, consultants must be openly conscious of the proportion of financial betterment that they share, and willing to stake a portion of what they charge to achieving the agreed set of results.
For help with analyzing how to best optimize your cash flows and establish a solid cash reserve, contact us at 303-459-4870.
