| Alternative | Description | Cost Savings | Investment Needed |
|---|---|---|---|
| Full-Time, In-House Experts | Hiring dedicated, full-time employees who are solely focused on your business. | Long-term savings: Reduced turnover costs, deeper understanding of the business leads to better decisions. | High: Salaries, benefits, training, and ongoing development. |
| Dedicated Consultancy Firm | Engaging a consulting firm that dedicates a team to your business full-time. | Medium-term savings: Better outcomes from a team fully engaged with your business goals. | Moderate to High: Retainer fees, but with a guarantee of dedicated service. |
| Project-Based Consulting | Hiring consultants on a project basis, with clear deliverables and timelines. | Short-term savings: Pay only for specific projects, no long-term commitment. | Moderate: Depends on project scope, but less than full-time hires. |
| Hiring a Chief Strategy Officer (CSO) | Bringing on a C-level executive focused on long-term strategy and growth. | High: Better alignment with business goals, reduced risk of strategy misalignment. | High: Competitive salary, benefits, and potential equity. |
| Consulting Retainer with Accountability | Contracting a consultant on a retainer with strict accountability and KPIs. | Medium-term savings: Structured, goal-oriented approach reduces waste. | Moderate: Regular payments, but structured for specific outcomes. |
| Internal Training and Development | Investing in training your existing team to develop the skills needed. | Long-term savings: Reduces dependency on external consultants. | Moderate: Costs for training programs, time investment for learning curve. |
| Automation and AI Solutions | Implementing technology to handle specific business processes. | High: Significant reduction in manual effort and reliance on consultants. | High Initial Investment: Costs for implementation, software, and maintenance. |
The “Need-To-Believe” Stages • Scot Smith • ASCEND Reputation