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Old 05-02-2014, 08:08 PM
 
Location: Atlanta (Finally on 4-1-17)
1,850 posts, read 2,601,676 times
Reputation: 2581

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I have extensive business experience . (Consulting, mergers, leveraged buyouts, etc...)

People approach me for advice and when I respond with- "call me at my office so I can put you on my calendar, I bill at $xxx.xx/hour and we can talk for as long as you need". People act put off because I charge to talk.

People seem to think I'm going to give away 20 years of experience for free.

Everyone wants to be a big shot deal maker but no one wants to put in the work nor pay for the expertise.
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Old 05-02-2014, 09:08 PM
 
358 posts, read 607,800 times
Reputation: 511
Are these professionals that are balking at your rates?
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Old 05-02-2014, 09:35 PM
 
Location: Atlanta (Finally on 4-1-17)
1,850 posts, read 2,601,676 times
Reputation: 2581
Quote:
Originally Posted by sideman View Post
Are these professionals that are balking at your rates?
Sideman-

Excellent question and great intuition.

That's the issue. They're rookies. Often times folks with a desire to do things in business but they generally don't have High level business experience and my background "fascinates" them. I can see dollars signs in their eyes. They already have the mansion picked out.

They want a fast track to the top. I've spent years developing my contacts and sharpening my axe. These "groupies" want to use me to take them from zero to a hundred million with "no money down".
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Old 05-03-2014, 06:06 AM
 
Location: Weehawken, NJ
176 posts, read 198,185 times
Reputation: 164
This reminds me of an old client I had at my company who went off and ventured to create her own business. I worked with her a lot in the past so she called me to ask me for advice on several things I have extensive experience with.

When I told her I charge a fixed rate for logistics/procurement consulting she was shocked, as if my time wasn't valued.
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Old 05-03-2014, 06:17 AM
 
698 posts, read 456,756 times
Reputation: 859
The concept of charitable or pro bono work is no doubt already understood here. So it really comes down to what sort of mix of whom you can most easily live with.
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Old 05-03-2014, 07:04 AM
 
Location: Atlanta (Finally on 4-1-17)
1,850 posts, read 2,601,676 times
Reputation: 2581
Quote:
Originally Posted by VendorDude View Post
The concept of charitable or pro bono work is no doubt already understood here. So it really comes down to what sort of mix of whom you can most easily live with.

If you cannot afford an Acquisitions adviser you certainly cannot afford to acquire a fairly decent sized business or small business for that matter.
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Old 05-03-2014, 10:09 AM
 
Location: Port Charlotte
3,927 posts, read 5,285,647 times
Reputation: 3422
As an appraiser and RE broker, I routinely charge for 'consulting' work. It is a fixed fee, and I disclose the fee up front. Yes, I will give out generalities at the beginning and not charge for it, but when we get into the nuts and bolts, its cash on the barrel head.
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Old 08-08-2014, 04:35 PM
 
55 posts, read 70,836 times
Reputation: 42
My suggestion would be to start a consulting business on the side because you get this request so much you needed to start a consulting business. I frequently look at things from both perspectives, so from your perspective, I do agree with you charging people because your advice isn't free, however, from their perspective, its possible you look ingenuine and want to make a buck off of them. Therefore, if you had a consulting business, people will probably accept paying for your advice.
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Old 08-08-2014, 05:38 PM
 
1,475 posts, read 2,338,737 times
Reputation: 659
Quote:
Originally Posted by Rocco Barbosa View Post
People approach me for advice and when I respond with- "call me at my office so I can put you on my calendar, I bill at $xxx.xx/hour and we can talk for as long as you need". People act put off because I charge to talk.
If you offered me some 'talk time' for money. I would not be interested. But if you show me what you'll produce for my business then it becomes an asset that is of value. For example if you do profit impact from marketing strategy analysis. Then you say you'll provide a best approach strategy for my business. I would pay. Because I can easily know what you'll produce and I can then compare the results to expectations.

If you just talk to me leaving me to implement your explanation I'm not gonna' pay because you're suppose to be the expert and I want an expert doing the work. If I'm not the expert why would I have *me* do the work? That would be a poor approach to applying resources.
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Old 08-15-2014, 11:30 PM
 
Location: Purgatory
6,321 posts, read 5,196,091 times
Reputation: 9789
This thread is interesting to me. I'm a mental health therapist and people ask me for advice/info on mental and developmental disorders all the time. I would never think to tell them my billing rate an call me when i'm working. Different types of work i guess . . .
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