They are paid thousands of dollars per hour to know the business. They need to be able to persuade their own clients and bosses they are 100% plugged into the space and can be trusted not to screw up a multi-billion dollar mega deal.
These folks don’t care about money, they care about speed and accuracy.
So why do you get paid so much? Simple – there’s a lot of money on the table and time is of the essence for these clients. These paid consulting calls are fast and intellectually stimulating. The client is looking for a fast download on how the industry works at a strategic level along with a commentary on any significant current events. The calls are focused on one of your areas of expertise. The client is generally trying to rapidly get up to speed on an industry for an acquisition or corporate strategy project. Welcome to the wonderful world of expert networks, a platform for short “consulting calls” between experts in an industry and clients in consulting, professional services, and investment management. All of these gigs were performed at nosebleed rates: up to $500 per hour. With zero marketing / selling and prompt payment. I was earning several thousand dollars per month delivering a basic “industry orientation” talk to new management consultants and professional investors. How about a decade of experience in a relatively boring niche industry? What do you think it takes to bill $500 an hour as an independent business strategy consultant?Ī Harvard MBA? Deep knowledge of a hot science field? Several years of investment banking and strategic consulting experience? An unlimited expense account and an epic pile of blackmail pictures?
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