Here is a short list of things that your boss should know about search engine optimization:

1) SEO is a process, not one time event – you can not optimize website with one time event, it has to be constant process
2) SEO takes time – it is very hard to get on #1 position in any search engine for competitive keywords, and even the niche keywords may take time to optimize a website for
3) Results may not be visible at once – you may need to wait awhile before you can see the results of your processes. Be patient – patience is a virtue, also in search engine optimization
4) SEO needs resources – managing an SEO campaign needs a whole team: programmers, copywriters, PR, you, the SEO consultant, and any other available departments. All of those people need to be coordinated and well organized in order to achieve satisfactory results
5) SEO is not free – do you think you can rank #1 on Google for “credit cards” without money?

What else would you add?