Consulting services are expensive. There's no debate about that. The question many people have is why is it so expensive, even coming from a small firm? While our pricing structure is different from most other consulting firms and more cost effective, there's no doubt that we are still considered expensive. The reality is: consulting is expensive.
Why do large consulting firms charge so much? I don't have a definitive answer. Pricing strategy is a firm's competitive advantage.
Some consulting firms charge may only charge $15k for a strategy plan. But how much value does that give you. At $15k, you ma get 3 hours of phone calls for a month and a strategy plan skeleton for your company. Is that useful? To some it may be, but to most, it is not. When a price is that low, you should be skeptical. In 1973 Richard Serra, an American artist said "If something is free, you are the product."
As a small consulting firm, we are more cost effective because we have less overhead and more flexibility.
So what are you paying for and why pay for it? You're paying for the value that we provide. A consultant provides knowledge and guidance from an unbiased perspective. I think a misconception a lot of people have is that a consultant comes in and gives advice based on the problems or they provide very generalized feedback that doesn't lead to an action plan.
However, consulting is very much data driven. A lot of research goes into a project. For example, when developing a product and go-to-market strategy, we have to gather data from target customers, segment the data, analyze the macroeconomics of your industry, etc. We utilize every piece of data we collect to determine the next best steps for your company.
These are all factors that drive the cost of consulting. Whether people realize it or not, a lot of research and work goes into the final plan. If you would like to know how much we would charge your company for consulting services, reach out to us and we can set up a call to discuss your organization's problems and needs, and determine how we can help your company accelerate its revenue growth.