Factors that Affect Strategic Planning Consultant Fees (Copy)
There likely isn’t a business in the world that wouldn’t benefit from a strategic planning consultant. Still, there is a myriad of reasons why the people running a business may not make the investment necessary to improve their operations. One of the most common reasons is fear of how much consultants are going to charge. Consultants don’t always have a set fee to give out to companies because each business is unique and will need a plan that is created to suit their different needs from others. That’s why our fees here at the Coraggio Group vary. We put together strategic plans based on every business’s individual needs. However, there are certain factors that consistently affect the final fee we charge.
The following is a look at the most common factors that affect strategic planning consulting fees:
#1 Initial Research to Build Plan
Perhaps the most variable factor affecting planning fees depends on the amount and type of research that our consultants must invest to figure out an ideal plan to help your business. First and foremost, we’ll need to do an industry assessment, which gives us a sense of what we’re working with and how your business fits into your industry. Sometimes this will require an assessment using social media (just at the beginning as research), but it will always be where we start to develop a plan that goes into place to help your organization thrive.
#2 Stakeholder Outreach
Another way fees can be affected is by the amount of stakeholder outreach and engagement that is required to build the plan mentioned above. Depending on the business, there might be interviews, focus groups, town halls, and online surveys to conduct. All of these services take time, and they can impact consulting fees.
#3 Diversity Equity & Inclusion (DEI)
Here at the Coraggio Group, we work with a partner who develops an equity lens to make sure the entire process is equitable for all diverse demographics. However, since that isn’t an in-house partner, it can affect how much we ultimately bill our clients for this important service.
#4 The Number of Planning Sessions
As with any consultant, there is a direct correlation between the amount of work we have to do and the fees we bill our clients. It should stand to reason, then, that more planning sessions would impact the consulting fees. Also, the number of planning sessions will depend entirely on your business and what it needs in order to move to the next level.
#5 Getting the Board Involved
If anything throughout the consultation process involves checking in with the board, that could involve higher fees as well. Gathering members of the board is an investment of their time as well as the consultants, which can add up.
#6 Operational Expenses
Sometimes the organizations we work with need help communicating and implementing the plan, and if that is something that requires our help, we are happy to oblige. However, as with everything else that takes time, energy, and human resources, it can impact fees.
None of this is to suggest a nickel-and-dime approach to billing, but so many of our clients are curious about what types of things will impact consulting fees, and these are the most common.
Reach Out to One of Our Strategic Planning Consultants Today
The Coraggio Group works with businesses of all types in a way that is both personalized and equitable, so you can rest assured that we don’t waste your time or money. It all goes towards making your business as profitable and successful as possible.
