Posts Tagged ‘raising money’

Consulting sucks, but thanks for the work

Thursday, May 22nd, 2008

Starting a company is tricky because there is never enough money. There are ways to raise money, and ways to save money, but usually you are thinking about both of those things because money is tight.

At the moment, I’m doing quite a bit of consulting work to give my company a cash infusion. And this is working quite well. Luckily, the projects are interesting and the clients are delightful to work with. (They also read my blog!) Most importantly, the money is coming in.

Love HateBut although I love my consulting jobs half the time, the other half of the time I despise them. Because every day, every hour, every minute that I spend doing my best work for my clients is time that I take away from working on my start-up.

I consider this to be a necessary evil at the moment. But the process of getting these consulting jobs and using this capital-raising strategy has given me some insight into how to make the process more painless than painful.

My most recent article on The Industry Standard has the full scoop, so go read it now to find out more – Consulting for capital – 5 ways to make it work for your start-up.

These are the five points that the article covers:

1. Charge by the hour
2. Watch the contract terms
3. Learn from the work
4. Network
5. Schedule around your busy times

What strategies do you use to make consulting a positive capital-generating tactic for your start-up?

Photo by *_Abhi_*