Small firms tend to be resource-constrained and highly leveraged.
At the same time, their staff may be willing to work long hours, which in itself poses the risk of burning out the client staff. Small firms usually bring a specific expertise, such as in a vertical industry, but are not strong on project management. If the firm has gone through an IPO, it could pose a distraction as much as a distinction. You need to look at the business model of the service firm. Lepeak predicted a high degree of consolidation among the new services firms.