Question Anyone ever done any phone consulting?

[DaGaffer]

I've had a request on LinkedIn to do some conference call type consulting (basically an investor or analyst is interested in a topic and these companies trawl for people with a suitable background to consult on it).

I've checked the research company out and they don't seem to be staffed by Nigerian generals with an urgent need for a business partner, so I might give it a go. Thing is, I've got no idea what to to charge. Anyone done this kind of thing before?

 

[TdC]

funny you mention this. I'm actually a Nigerian general...

srsly, my primary vendor has just informally asked me if I am willing to do this for/with another of their customers. given my job I wonder if I am actually allowed to do such a thing.

 

[DaGaffer]

funny you mention this. I'm actually a Nigerian general...

srsly, my primary vendor has just informally asked me if I am willing to do this for/with another of their customers. given my job I wonder if I am actually allowed to do such a thing.

No real conflict for me with this particular one. General rule seems they can't ask anything about a job you are currently in, and certain professions (medics etc.) are barred unless they're not practicing.

 

[old.Tohtori]

It's nothing special(atleast from my experience), just listen, answer and be honest. Just like taking about your work at the watercooler, or talking to a GF

Should check personally about limitations ofcourse, like current job, company, whatnot.

 

[Cadelin]

No real conflict for me with this particular one. General rule seems they can't ask anything about a job you are currently in, and certain professions (medics etc.) are barred unless they're not practicing.

I haven't got any idea what you do. However if you believe your skill set is similar to that of a medic, then the starting rate would be £150/hour. Similarly solicitors fees start at around £150/hour. This assumes you are paying for an office and a secretary etc

 

[DaGaffer]

It's nothing special(atleast from my experience), just listen, answer and be honest. Just like taking about your work at the watercooler, or talking to a GF

Should check personally about limitations ofcourse, like current job, company, whatnot.

I'm not worried about what to say (I've done a million analyst briefings), I'm wondering what to charge.

I haven't got any idea what you do. However if you believe your skill set is similar to that of a medic, then the starting rate would be £150/hour. Similarly solicitors fees start at around £150/hour. This assumes you are paying for an office and a secretary etc

Seems reasonable. Thanks.

 

[Fweddy]

An hour!? TdC charges less than that for the whole night!

 

[old.Tohtori]

I'm not worried about what to say (I've done a million analyst briefings), I'm wondering what to charge.

Ah right right, my bad. Go with your usual salary + overtime extra if you do it on extra time?

Also can throw in a "consuting professional bonus" if you like, i think that's a discussion with you and the employer though.

Something like; "I'm drawing up some figures here blahdiblah, what's your usual rate for consultants?" and go from there.

 

[Edmond]

Give them a figure that you feel sounds reasonable to test the water, if they snap your arm off then you know you are going in too cheap.

On the other hand give them a sky high figure and then let them haggle you down.

Or be honest and say you're not sure what to charge and ask them what they are willing to pay

 

[Cadelin]

Or be honest and say you're not sure what to charge and ask them what they are willing to pay

That's not how consultancy works. If you are the consultant, you are expected to know the field extremely well, which include the rates. If you say you don't know, then any sane customer would run a mile. The other way of doing it is to charge say £250 for an initial consultation. This stops them screwing you about. You can then go away figure out how you can actually help them and then come back with a better estimate.

 

[Aada]

Don't analysts just come out and say stuff like "analyst predicts iPhone 5 to sell xx amount of units?" Then get paid for that?

 

[Chilly]

no, that's pundits. a real analyst looks into the performance of a certain company in a very specific way or looks at some aspect of that company. Typically in far, far small companies than apple. You might ask, for example: "we're currently spending 15% of revenues on marketing our dildos. Is that in line with the industry, and is the mix of online/offline/mobile/tv correct within that 15%?". An analyst would then go and dig through his previous work and look around on the web for info and give an informed opinion that the board of the company can use when setting macro budgets for marketing spend.

 

[SawTooTH]

I've asked twice in one day to participate in a paid teleconference. I couldn't do it as it is against my companies code of conduct but I did think it was odd that 2 seemingly separate requests came in together.

Wouldn't touch it witha barge pole. Prolly a LinkedIn scam to get you professionals to divulge bank details.