After exiting my first company, I was asked to join a merchant bank. Over several years, I participated and/or managed several acquisitions where we deployed over $40 million of capital, and realized almost $180 million in gains. Every year I learned more about sources of funds and what the point-of-view was from the other side of the desk. The Chairman and CEO of the merchant bank came to appreciate the duality of my experiences. We became partners in several ventures over the following decade. I once asked why he trusted me with his money, his answer was that of all the employees of the merchant bank, only I had made a payroll, invested my own money, and signed a personal guarantee.

I have lost count of the number of company owners I’ve met who need help but are scared to death about hiring a consultant. Owners say it all boils down to shoveling out a lot of cash to an outsider without being sure that it will pay off.

“I think a lot of times when the consultants come in, their big advantage is that they come across very self-confident and sound great,” a former Fortune 50 CEO recently told me in an interview. “But I’m always very worried about what I refer to as the articulate incompetent.”