Discussion

If you own a company (regardless of its type or size), everything may have been running smoothly until the last two years when, suddenly, your profits started decreasing, even though your revenue (sales) was increasing. This is just one example of what could go wrong. Now, you're struggling to understand what went wrong. Despite your efforts to figure it out, the solution remains elusive. At this point, you're looking for someone who can help you solve the problem and get your company back on track—someone with the experience to do so. That's when you decide to hire a consultant. Consultants and other service providers play a key role in creating value for their clients. Therefore, it’s only right, fair, and ethical that they receive a fair share of the value they help generate. When they solve both big and small problems, they are typically paid a percentage (ranging from 5% to 20%) of the value they contribute to creating. This is the primary reason they earn the fees they do.