How Can I Make Sure That Paying For Consulting Is Worth It?

You’re wondering if hiring a consultant is going to be a complete waste of money.

You’ve either been burned before or you’ve heard horror stories. Thousands spent, nothing to show. A binder full of ideas collecting dust on a shelf. Or worse—recommendations you could’ve Googled for free.

I get it. It’s smart to ask before you swipe the company card:

“How do I know this is going to be worth it?”

That’s not just a cost question—it’s a trust question. And you deserve a real answer.

I’ve spent years working with owners of professional advisory firms who felt exactly the same way. They didn’t need handholding. They needed results. What makes our approach different is that we don’t start with solutions—we start with understanding what’s actually at stake for you.

This post is for business leaders, firm owners, or executives asking themselves:

“Is now the right time? And will this actually move the needle?”

Here’s what you’ll walk away with:

• A clearer picture of what consulting really costs (and what it should cost)

• Red flags to avoid

• How to set yourself up for a successful engagement before you even sign

• When not to hire a consultant

Let’s break it down.

What does consulting actually cost — and why does pricing vary so much?

Consulting pricing feels like the Wild West for a reason—because it is. There’s no standard pricing model, and honestly, that’s part of the problem.

Here are the three most common pricing structures:

• Hourly ($150–$500+ per hour): You pay for time, not outcomes. Good for short-term or highly tactical help.

• Project-based ($5,000–$50,000+ per engagement): Flat fee for a defined deliverable or timeline.

• Retainer ($2,500–$25,000/month): Ongoing access and partnership over a set period.

But here’s the truth: what you really care about isn’t the fee.
It’s return on investment.

A $20,000 consulting fee might feel steep—until it unlocks $200,000 in new revenue or helps you stop losing $30,000 a month to inefficiencies.

For example, my minimum consulting fee is 10k, and my minimum monthly retainer is 5k. Some of the examples of outcomes include: doubling yearly planning fees for clients, helping them go from a 5-year window to sell their advisory business to 12 months, increasing annual revenue and profit from fewer clients (earning more with less time).

The real cost to worry about? Paying for advice that doesn’t get used.

How do I measure whether a consultant is delivering real value?

Let’s be blunt. If you can’t measure it, it’s not valuable.

Before you hire anyone, answer this question:

What specific outcome would make you say, “That was money well spent”?

Don’t settle for vague goals like “improved processes” or “more referrals.” Instead, ask your consultant to define:

• Clear metrics (e.g., lead volume, conversion rate, retention)

• Specific milestones or deliverables

• A timeline for expected impact

Great consultants don’t avoid accountability. They crave it.

Every engagement I do has quarterly goals that the client and I agree on.

Additionally, there are several key, highly measurable metrics that we agree on and monitor monthly at a minimum. One example would be AAR - Average Annual Revenue per client. Few things are more important and informative for a professional advisory practice/firm.

What mistakes do businesses make that lead to wasted consulting spend?

Most consulting disappointments don’t come from bad advice—they come from misalignment. Here are the top avoidable mistakes we see:

• Hiring too fast. You liked the pitch and skipped the vetting process.

• Unclear goals. “Help us grow” is not a strategy.

• Poor internal communication. You bring in a consultant, but the team isn’t on board.

• Lack of follow-through. Good ideas die without a champion.

Consulting works when there’s a partnership. If you’re looking to offload responsibility, it’s going to fail.

Often, but not always, the initial reason a prospective client reaches out is not what we end up prioritizing. This is because I bring an outside perspective and help clients notice things that might have been beneath the radar.

How can I tell if a consultant is worth the investment before I hire them?

This is where you take control. The best way to vet a consultant isn’t through their website—it’s through evidence.

Ask for:

• Relevant case studies with measurable results (depending upon privacy)

• Client references (and actually call them)

• Their specific process — if they don’t have one, run

Also, pay attention to how they engage with you in early conversations. Are they listening more than talking? Asking smart questions? Tailoring their approach to your situation?

I have two different fact-finding processes that must be undertaken as part of the onboarding process. They include multiple phone conversations and often a Zoom or two before we actually get to the ‘live’ consulting meeting. This is also why I charge a non-refundable deposit for clients to get on my calendar.

You’re not hiring a cheerleader. You’re hiring someone who will challenge your thinking, without trying to impress you with buzzwords.

What should I do before hiring a consultant to make sure I get my money’s worth?

Consulting is like a gym membership. You don’t get fit just by signing up.

Here’s what to have in place before bringing someone in:

• Clear outcomes: What does success look like?

• Team alignment: Who’s responsible for implementing?

• Time set aside: Will your team have bandwidth to execute?

• Budget with a purpose: Know the difference between investment and expense.

A prepared business is a successful client. Period.

Ultimately, this only works if you and your team are committed.

Is it ever not worth paying for consulting?

Yes. And you need to hear that.

Consulting is not worth it if:

• You’re not ready to change.

• You don’t have buy-in from key people.

• You’re just looking for validation or a shortcut.

• You’re not willing to act on hard feedback.

If your company culture isn’t ready to do the work, even the best advice will just sit there.

This reality is why I never start an engagement with a retainer anymore. We will always do the consulting project first so that all parties can have a finite process to decide if we like each other and will be productive on an ongoing basis.

Sometimes, the best decision is to wait—or to tackle the basics internally before investing.

Final Thoughts: How to Make Sure You Never Regret Hiring a Consultant

The decision to hire a consultant shouldn’t feel like a gamble. If you’re clear on your goals, prepared to act, and vet your partner thoroughly, it can be one of the highest-leverage moves you make as a business leader.

If you’re serious about solving a meaningful problem, opening up new revenue, or accelerating your business, consulting can be worth it many times over.

But don’t hire for ideas. Hire for implementation, accountability, and impact.

Ready to See If We’re the Right Fit?

We work with owners of financial services businesses and other professional service firms who are growth-minded, action-oriented, and ready to turn strategy into results. If that’s you, let’s talk. Reach out to book a no-obligation discovery call and let’s explore what’s possible—before you spend a single dollar.

I know that successful sales professionals and business owners face unique challenges as their career matures. My goal is to help people like you manage the transition from producer to successful business leader while enjoying life now. To learn more about how we do that, subscribe to Can I Borrow Your Car on Substack.

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