OT Anyone here work as consultants?

Discussion in 'Blazers OT Forum' started by Further, Aug 15, 2021.

  1. Further

    Further Guy

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    I moved back to NW. I recently took a salaried position at a school (wine). I’ve also been recommended to someone as a consultant but I’ve never done consulting work before. I’m trying to figure out how to set my consulting price. There is nobody local who does what I would be hired for, and the ones in CA are so much more established they can charge extremely high rates (300-750/hour.)

    I’d like to get pricing right to start so I don’t piss folks off in a small industry. Typical job would be 20-100 hours to start a process, then 5-20 hours a couple times a year. The minimum that would make financial sense to accept would be around $75/hour but I’m feeling like that price might be too bargain basement and something $125-250/hour would be more expected.

    anyways, without good industry comps, how would you figure out how to set your consulting fee?
     
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  2. ABM

    ABM Happily Married In Music City, USA!

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    Is that your business card pic?
     
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  3. SlyPokerDog

    SlyPokerDog Woof! Staff Member Administrator

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    20 to 50 hours - $10o per hr
    51 to 100 hours $75 per hr

    or

    20 to 50 hours - $10o per hr
    51 to 100 hours $85 per hr
    101+ hours $75 per hr
     
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  4. ABM

    ABM Happily Married In Music City, USA!

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    I do some consultant/analyst work, but it's strictly percentage-based, so I'm probably not much help in this regard.
     
  5. Further

    Further Guy

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    That looks like a good structure. It’s kind of exciting to start something new. I highly doubt I’ll want to give up my regular job for a bunch of non-financial reasons, but if consulting can bring in enough then who knows. It’s exciting either way yo start something new.
     
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  6. SlyPokerDog

    SlyPokerDog Woof! Staff Member Administrator

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    Don't forget my 10% consulting for your consulting fee.
     
  7. jlprk

    jlprk The ESPN mod is insane.

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    As a message board consultant, I make an infrequent appearance when an owner makes a ship-to-ship "ahoy" call.
     
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  8. Further

    Further Guy

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    You’ll blow it all on dog biskets and Mad Dog 20/20.

    Bad boy!
     
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  9. Further

    Further Guy

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    This work wouldn’t be directly connected to sales so that won’t work. It’s basically helping them buy equipment, set up a lab and train employees so wineries don’t need to use outside labs for routine analysis. It would save wineries time and money but not in the short run and would be hard to directly show.
     
    Last edited: Aug 15, 2021
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  10. calvin natt

    calvin natt Confeve

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    I’m doing consulting right now actually. $80/hr.
     
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  11. Further

    Further Guy

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    How did you arrive at that number?
     
  12. SlyPokerDog

    SlyPokerDog Woof! Staff Member Administrator

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    His pimp probably set it.
     
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  13. EL PRESIDENTE

    EL PRESIDENTE Username Retired in Honor of Lanny.

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    $169.420 an hour.

    But yeah, go $175. You'll weed out the cheap fucks.

    dr4bibp8gwf61.jpg
     
    Last edited: Aug 15, 2021
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  14. calvin natt

    calvin natt Confeve

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    It wasn’t a negotiable amount. Former company called me and asked if I would spend some time helping them each week. For what I’m doing it was a good number.
     
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  15. Lanny

    Lanny Original Season Ticket Holder "Mr. Big Shot"

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    it depends on your credentials and experience.
    A PhD would be more in the range of $300/hr. and up depending on the PhD and experience. A previous friend, roommate and classmate of mine probably earns about $400/hr. with only a bachelor's degree in EE working as a software consultant but he's one of the best in the state. About 30 years ago he worked as a consultant for Intel designing a mother board's interface.
     
  16. barfo

    barfo triggered obsessive commie pinko Staff Member Global Moderator

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    1. Make sure your employer doesn't have an objection to your side hustle.
    2. Rule of thumb: double the hourly rate you'd expect as a full-time employee doing the same thing.
    3. If you trust the counterparty, you could be honest and tell them this is your first consulting gig and ask them to suggest a rate they think is fair. You might be pleasantly surprised. Or not. But either way, if you want this to lead to to more consulting work, getting it onto your resume is probably more important than the pay rate.

    barfo
     
  17. Further

    Further Guy

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    BS is highest degree but a lot of highly specialized experience. There aren’t many real experts.

    The interview for my first consulting gig is later today. For now, I think I’ll just talk to the owner and see if we can come to number that makes sense for both. Using that, I guess I can establish a rate going forward. We shall see.
     
  18. Further

    Further Guy

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    1) No issue yet. A conflict may arise in a year but as it stands there wouldn’t be any crossover between jobs.
    2) this is the hard part, what I’d be doing doesn’t really exist in this way, but I might be able to ballpark it.
    3) I think this is where I’ll land. I have a number I won’t go below, but aside from that we can discuss.
    Thanks
     
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  19. Chris Craig

    Chris Craig (Blazersland) I'm Your Huckleberry Staff Member Global Moderator Moderator

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    Don't sell yourself short
     
  20. HailBlazers

    HailBlazers RipCity

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    $150/hr is half the high end competitors. Quote that as your rate and offer discounts as needed to get your book of business off the ground. Always hit them with high rates first to see how they react.
     
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