How to buy a consulting service

By SOCH Business Mentors LLP Posted April 23, 2024 in Family business

How to buy a consulting service

Omg! Why so pric ey?

Our suggestion: Learn to buy

Snippet of a live conversation: 

Client (say Mr. Sanjeev): I am buying this constitutional project in million dollars — how do I justify the price? 

Me: Let us deepen your perspective and get some clarity here – you are not paying the price for a project. Or it’s multilevel expert process-centricity.

Client (Mr. Sanjeev): What are you saying, Chetanbhai? 

Me: I understand what you maybe thinking, so first yes you aren’t paying for the project or process but you are paying for the four things that you care the most about. 

  1. The consequences you definitely want to avoid of not having a solution 
  2. The risks you don’t want to face  
  3. The long term rewards you definitely want once the solution is put in place to protect your interests and grow bigger.
  4. The immediate benefits you wish to gain once the solution begins to be implemented and accomplishes your aims. 

Me: Let me ask you Mr. Sanjeev – When you go to a medical expert that is a doctor, he declares that you have a certain ailment or disease or similar. Then he asks you to get a procedure done. What do you do when a procedure and price is placed on the table by medical team or doctor himself to you?  

Do you ask him procedure-centric questions to gain confidence or your questions are around seeking assurances and understanding the four areas – the consequences, the risks, the benefits and the rewards of long-term health stability.  

Once you are satisfied of the 4 things, neither the procedure matters and nor the price.  

Do you see?  

Even if you are asked to undergo a surgical procedure, you would hardly be able to assess its validity and effects because you don’t understand the science.

So, you connect the price with not the procedure (of which you actually have no real understanding) but you connect the worth of the price with what all consequences, & risks be specifically addressed and resolved. And what long term rewards and short term benefits you will get. 

Me: Since, you are connecting price with the project. The above shared perspective will help you to become trained and educated buyer for business consulting services. 

Consulting services are not knowledge delivery such as in training.  

Consulting services are not mentoring which focuses on specific roadmap and mastery that you would need to accomplish mainly in newer areas.  

Consulting is also not coaching because coaching is specific to how you think that creates effects in real world where you are trying to bring results.  

Consulting is a methodical, structured, and expert led – consulting, especially at SOCH, is like an act of surgery to save life while Mentoring is like an act of guidance say by the dean of medical college telling young surgeons what to and how to and why to? And, Coaching is like an act of how to access your inner strength for unmatched outer results. 

So, point number one: 

You need to learn how to buy a real difference making consulting services. Just because it is pricey because you think so, doesn’t mean it hasn’t got value to move your stagnant mountains.  

Learn to evaluate value.  

Think in terms of circumstances you definitely want to dissipate and/or create, the consequences you want to avoid, the risks you want to mitigate and the long-term rewards that you would love to have giving long term leverage; and benefits to give you necessary push, momentum, and high speed acceleration towards goals…  

For example: 

A multi-generational family buying the service of developing their family constitution must not evaluate the price of the project based on the project, the process or its approach. They need to really understand and evaluate what timeless outcomes it will offer for their family and its business (today and tomorrow), in terms of the consequences avoided, risks mitigated, benefits received and rewards gained, illustrated as below: 

(Zoom in for a better read) 

Become a seasoned client by engaging in conversations with expert consultants like at SOCH.  

We are there to help you and would deliver world apart difference where prices in millions will appears as savviest deal you must not miss! 

Don’t forget: Think timeless outcomes, not price.