What sets apart a good corporate advisory firm? What are the things that you need to focus on when making the choice of advisory firm? You may be surprised to know that a good corporate advisory firm never has to sell its services; its clients do this job.
Although there are many advisory firms offering their services, choosing the right one can be a difficult task. If you make a wrong choice, you not just lose valuable time and money but also a good business opportunity. You should avoid making a random choice as it can affect your ability to complete a successful business transaction. So, here are the things to look for when choosing corporate advisory firms.
1 – Track record
One of the first things that you need to focus on when choosing a corporate advisory firm is its track record. It is important that you ask the firm about its previous successful business transaction. Check the credentials before making the choice.
2 – Communication
Transparency and communication are also important factors that you need to focus on. All business transactions should be transparent and there should be no ambiguity. The status of each transaction needs to be provided as reports to the client by the firm. It is best to check whether the firm documents all correspondence with the client.
3 – Business opportunity
How does the firm analyse the business opportunity for its strengths and weaknesses? Look at how the firm presents the business opportunity. Does it provide you sufficient information after the initial evaluation so that you may be able to make an informed choice?
4 – Project
The advisory firms should be capable of overseeing all aspects of the project. The firm’s advisors should be involved in the project from the start to the finish ensuring personal attention.
5 – Marketing resources
What are the marketing resources that the firm has and how are these used to target potential customers? The firm should be capable of cooperating with other advisors so that the project is completed in a seamless manner.
6 – Innovative solutions
Does the firm offer innovative solutions to challenges faced by businesses? How does the firm handle sensitive assignments? Is confidentiality maintained at all times? What is the tactical advantage that the corporate advisory firm provides to its clients?
Shortlist many corporate advisory firms based on your specific needs and requirements. Using a systematic process you can narrow down the list to one firm that is competent to deliver on its promise. Check references of firms based on latest transactions so that you are able to choose wisely.