The biggest mistake that private company consultants make is to overspecialize. But, ultimately, they stick with the professionals who provide synthesis, a big picture view, more than just expertise," said consultant Andrew Sobel in the book Clients for Life.
Successfully carrying out such responsibility is now more important than ever before, due to today's dynamic forces of high technology, high innovation, high expectations, and hard-driven international competition. These advisory skills are interdisciplinary, requiring that professionals integrate knowledge from a wide variety of business disciplines and cultures.
The best transaction consultants identify and think through issues, problems and opportunities. The best dealmakers tenaciously apply focused, talented effort of appropriate temperament and drive to get deals done. Better business and transaction advisors act in close cooperation as a special temporary extension of corporate management team.
In addition to having recognized advanced professional credentials, members must also be:
- Proven to be highly ethical
- Truly objective independent advisors, with no company or product bias
- Willing to adhere to the overall fundamental needs of the client before their own
- Personal needs as determined solely by the Executive Staff.
- Experienced (minimum of 5-10 years industry experience)
- Willing to adhere to rigid and specific operating and performance requirements
- Willingness to share knowledge and expertise;
- Transparency and accountability in financial reporting;
- Belief in “co-opetition”, which is a blend of cooperation and competition or the act of helping an existing or future competitor in order to benefit oneself;
- A desire for continuous professional self-improvement; and
- Belief that technology will increasingly affect the delivery of services and communication with clients and other constituents (i.e., peers, capital markets, the investing public, and clients).