May 26 2008
If the Company On the Other End of the Line Is…Hang Up!
Calling out a “competitor” is bad form, but here I go.
There is a management consulting firm who has been running amok for several years that must be avoided at all costs. If allowed, they will ring up a $20,000 consulting bill in the blink of an eye without producing anything of value.
If the voice on the other end of the line identifies himself or herself as being with International Profit Advisors, hang up the phone.
Failing to do so could result in the loss of ten of thousands of dollars in a couple of weeks.
IPA’s method is to suck as much money out of their clients as fast as they can before their client throws them out.
IPA’s method is always the same. They send in a senior consultant for a day or two to analyze their target’s business. The analyst concludes the business is in great trouble and needs immediate help to save it.
The analyst recommends sending in two IPA consultants starting the following Monday to create work descriptions, budgeting, performance evaluation forms, etc, and leave them there charging $4,000.00 a day until the owner kicks them out.
There is another company who works in a similar but more honest fashion that will remain nameless. Apparently, IPA spun off from this other company.
Another story that was shared with me (can’t verify its truthfulness) was that the second, unnamed consultant promised to help a contractor acquire a $300,000 line of credit and talked the contractor into paying the consultant’s bill with her credit cards. In the end, the contractor’s credit card’s went from zero to $55,000.00 without $1 worth of credit line being awarded. The consultant’s justification was “We did what we could.”
I hear two or more stories a month about contractors who have been approached or abused by IPA.
I am sharing this with you for two reasons:
1. If it’s IPA on the phone, don’t be nice. Hang up.
2. Pick your adviser wisely.
Almost any business adviser you choose will provide valuable help. You will bond better with some than others. Some will be specialists in your business, others will not. Almost all will be professional, ethical, and helpful if you follow their advice.
Then there is IPA.
Your business would most likely benefit greatly from using an adviser (paid or otherwise). Choose one who helps you identify your goals, communicates well, and is committed to your success.
By the way, all of your systems must be humming in order to grow your business profitably.
Job descriptions, bonus plans, performance evaluations, key indicator tracking, and budgets are not enough, in and of themselves, to grow your sales and profits. If your adviser isn’t bringing marketing, sales, and staffing solutions to the table along with the other systems described, the rest of his or her tricks aren’t going to produce the growth and profits he or she promises are there for the taking.
Again, not to beat a dead horse but, if IPA is on the phone, HANG UP!