I am an experienced multi-identical professional and a startup mentor. I am going to work with one of technology startups on global business development and partnerships. Not sure on which terms I should build my potential collaboration: advisor, consultant or something else. My goal is to be visible with this company and get paid. would be grateful to hear your piece of advice.
Wow, I'm not really surprised no one has responded to this question. I mean no offense, but your question is full or jargon and is hard to follow the real problem statement.
My first confusion comes your multi-identical professional? I have worked with many startups, some well funded, I have raised myself a few million dollar companies (not startups) and in all that time of dealing with many professionals in many industries I have never heard that term. But assuming it was just how it happened, if you are an experienced startup mentor wouldn't you know the answer to this question?
In any case, the answer to your question would be dependent on the focus of the startup what is the clear value proposition and the product offered? What is their growth path? business plan for revenue and even their marketing plan?
What are their current weaknesses - such as why would they need a mentor (specially maybe a paid one?)
...And then what are you core capabilities? or proven work and how can that be coupled with the gaps the startup has to achieve growth?
If you had good experience with startups, you would know that most good established startups with the right legalities typically give their board members and mentors anywhere from .05% to 5% stock for their services)
My name is Humberto Valle, I have worked with many startups from Arizona, to New York and SF as well as some in Portugal and Argentina. I currently run a global marketing agency that helps small businesses and startups with lead generation, growth, and custom software development. I have been mentoring for free for the past 10 years.
Answered 7 years ago
I have related relevant experience in this area as I am the first American to be invited to have an Entrepreneur's Visa in Canada, I am also an Attorney from Boston, MA and have served as a Catalyst and Board Advisor to startups and the global programs at MIT Portugal BGI.
The terms and conditions of the contractual negotiations can only be had after you have shown substantial value, so your relevant knowledge must be put forth to earn equity, or some type of strategic alliance, which may have a pay or pay for performance component- this does depend on the product or service of the startup, its margins, the anticipated percentages of net and gross margins- there is no template, as the terms and conditions are as varied as the situations and the people, of course. It is more of an art than a science, in this space, you are painting on a brand new canvas - begin with fundamental contractual terms and conditions .
This was merely a quick outline, as I see it, regarding your question. Should you desire a more in depth explanation, please reach out to me on my mobile at 617-283-6995, I am based in Boston, MA and do travel. You may text first to establish a suitable time for us both to chat, should you so desire. Thank you for posting your question, and allowing me to answer. My Best, Joseph J. Shamon, Jr. - 617-283-6995,
Answered 7 years ago
International businesses need to recognize the diversity of the global marketplace. They must be adept in handling the risks of doing business in a global market that is characterized by uncertainties and risks. This is where a consultant comes in the scene. Since you are experienced multi-identical professional and a start-up mentor, I will suggest you go for consultant job.
A consultant is a person who is an expert in a particular field who gives professional advice to individuals and businesses in their area of expertise.
To become a Consultant, you must follow these steps:
1. Identify your area of expertise: Be honest about where your strengths and expertise lie and consider strengths outside your nine-to-five focus. Maybe you have a landscaping side hustle with enough client demand to take it full time. Or perhaps you are good at closing difficult deals in the medical sales industry so good that your colleagues are always asking for help.
Ask yourself three questions to identify your niche:
1. "Do I have a unique point of view?"
2. "Do I have the experience necessary to be authoritative in this field?"
3. "Is there demand for this service?"
Being a consultant requires you to be organized, self-motivated, and good at boundary setting. Before launching your website and accepting your first client, consider your ability to meet these demands. You might identify the perfect niche, but if you cannot meet independent deadlines or manage a billing cycle, you might not be ready to become a consultant. To find your consulting specialty, consider areas you excel in at work, projects you have gotten high marks on in performance reviews, or hobbies you have mastered outside the office. You should also factor in what you enjoy -- if you are doing this full-time, it needs to be an activity you are passionate about.
2. Set goals: Setting goals helps you know what you are working towards. Do you want this to stay a nights-and-weekends project? Do you hope to turn it into a full-time business? Do you want to hire employees someday? Answer these questions and plan accordingly.
Once you have identified broad goals for your business, narrow your focus to more immediate needs. To do this, make sure your goals are SMART:
1) Specific: Clearly define what you want to accomplish
2) Measurable: Identify targets and milestones to track progress
3) Attainable: Keep goals realistic and manageable
4) Relevant: Set goals that fit with your business model
5) Time-Based: Identify deadlines for your goals
Here is an example of SMART goals for a consultant who coaches sales teams to be better at cold outreach:
1) Specific: I will coach SMB sales teams on how to make better calls, send higher quality emails, and follow up in an effective manner. The result will be more qualified opportunities for reps resulting in more closed business and higher revenue for the organization.
2) Measurable: Success will be measured by increased client pipeline and percentage of client deals closed as well as referrals for my business.
3) Attainable: I have three clients already and bring in an average of one new referral every month. I know there is demand for my service, and this cadence is manageable for my workload and operating budget right now.
4) Relevant: This business model fits my skill set and allows me to benefit from my success with sales outreach as identified by myself, my co-workers, and my supervisors.
a) November 15: Website goes live
b) December 1: Review previous month's work and ask for at least one referral
c) December 5: Send client bills for the previous month's work
d) December 15: Have all coaching sessions scheduled before this date in anticipation for holiday schedules
As your consultancy grows, so will your plans. Revisit your SMART goals on a monthly or quarterly basis and adjust them as needed.
3. Make a website: A recent Local Search Association report finds that 63% of consumers use websites to find or engage with businesses, and 30% of those consumers will not consider a business without a website.
Also, if you have a site, Google gives your business more authority in local rankings. Creating a Google My Business profile is not enough. A website that is optimized with backlinks, domain authority, and views will encourage Google to display your website in relevant searches. Services like WordPress and Squarespace make it easy to build a website, and GoDaddy allows you to lock down a domain name. And if you want a tool that will help you do everything from tracking incoming leads to booking meetings and will grow with your business, try HubSpot. Your website is the first impression of your business. Invest time here and see the returns for years to come.
4. Get certified: Are there certifications that will give you an edge? For example, if you are a consultant for medical sales professionals, consider pursuing accreditation in one of HIDA's Medical Sales programs. If your specialty is coaching teams to be better at outreach, consider getting an Inbound Sales Certification from HubSpot. Whether software-, skills-, or subject matter-specific certifications, find out what is important in your industry and invest in expanding your knowledge base. As a consultant, it is crucial to remain cutting edge and competitive in your niche, and certifications are a concrete way to demonstrate your drive.
5. Choose a target market: Once you have identified your niche, be clear about who your target audience is. For example, if you help start-up sales teams navigate early-stage scaleup, home in on your target market by answering these five questions:
1. "Where is my target audience located?" (Will you serve local clients only? Will you accept national or regional clients? Will you exclude international clients?)
2. "What are their biggest pain points?" (What has driven them to search for your help? What are their daily roadblocks to suggest? What are their scaling challenges?)
3. "Who is competing for their business?" (Who are your biggest competitors and how do your services measure up? What sets you apart?)
4. "Am I targeting start-ups themselves the individual sales managers?" (Will you reach out to businesses or network to individuals through local meetups or LinkedIn outreach?)
5. "What motivates my target audience?" (What is your audience's end goal by choosing your services? What do they hope to achieve for their team and for themselves?)
Getting specific about who your customer is and what is important to them allows you to provide superior service and reach clients who are the perfect match. Once you have decided that office space will truly benefit your business, consider what kind of space is right for your needs. Coworking spaces like We Work and Galvanize are staples of many urban environments. They give you access to shared or small workspaces, as well as meeting rooms and amenities, at a lower monthly rate than traditional office spaces. They also give you another way to network and benefit from those around you.
6. Network with people: Referrals are a crucial way to grow your business, but they are not the only way. Unlike at a large company, you probably do not have a marketing team whose whole job it is to promote your business. Instead, selling the value of your consultancy often falls to you and you alone. Join LinkedIn and Facebook groups your audience frequents, write, and share blog posts highlighting your expertise, and attend meetups or conferences in your area. Be everywhere and talk to everyone who is a good fit for your offering. No one's going to sell you as well as you, so brush off that elevator pitch and get ready to sell yourself anything but short.
7. Set your rates: Deciding how much you will charge clients can be the hardest part of starting a consultancy. It is tempting to charge less than you are worth because you have not proven your results yet. Research what comparative consultants are charging in your area (sites like Glassdoor.com are great for this). And decide which of these common types of consultant pricing would most fairly compensate you for the work you are doing.
1) Double/triple your current hourly wage
2) Set a daily rate
3) Set fees by project
4) Set fees by performance
5) Set fees using data from previous client work
6) Set solution-based fees
Once you have decided what to charge, consider how you will bill clients and accept payment. There are many free and fee-based platforms -- like Invoicely, Freshbooks, and Due -- that allow you to automate billing cycles, track and manage invoices and payments, and run reports on weekly, quarterly, or yearly earnings.
8. Know when to say "no.": In the beginning, it's easy to say "yes" to every client and every request. Now more than ever, you want your work to be high quality, organized, and manageable. coming in at a manageable rate. Prospective customers will appreciate your honesty, and you will be able to maintain high-quality work at a cadence that does not threaten your sanity or existing client satisfaction. It is also difficult to turn down clients that are not a good fit. Be honest when you cannot meet a prospective client's needs and be proactive about introducing them to someone who can. They will benefit from a better match, and your business will not lose sight of what it does best.
Besides if you do have any questions give me a call: https://clarity.fm/joy-brotonath
Answered 3 years ago