Consulting Blog

Contract Terms: Non-Compete Clause

Almost every employment contract  has one: the dreaded “non compete clause". A provision put into place to prevent you, the independent consultant or freelancer, from working with specified clients, consulting companies, or staffing agencies either concurrently with your contract assignment, and/or once an engagement has ended. In the case of the staffing agency or consulting company, it’s a mechanism to prevent...

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Contract Terms: Non-Disclosure Agreements

Independent Consultants are put in the unique position of being privy to confidential information about the companies that engage them. They move into and out of companies, contract after contract, and each time are expected to maintain a level of confidentiality throughout. The term “non-disclosure”, unlike some others we’ve tackled in our series on contracts, is...

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Contract Terms: Indemnification

Indemnification, a clause in almost every single contract, is easiest discussed in common terms. When you indemnify your client, you are promising to compensate that client for any loss they may suffer while you’re working on that contract. In other words, you are protecting...

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Contract Terms: A Glossary That WIll Save Your Business

Consulting contracts can be scary. When you sign your name on the dotted line, you could be signing your life away – or at least your livelihood. That is, of course, unless you have the knowledge to turn contracts in your favor. Every time you enter into a contract for your next assignment...

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Freelancers Networking in Real Life: True Tales

Online social networking is becoming old news. Important news, but "it's been done." The latest thing -- and this is groundbreaking, so you might want to sit down -- is networking in REAL LIFE! For all of you working as freelancers and independent consultants, operating from a home office or jet-setting from client site to client site, you may be disconnected from the social mix of the American workforce. What role should real life in-the-flesh social networking play . . .

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Value Method: Another Strategy for Bill Rate Calculation

What are you worth? It’s a very important question for independent consultants, and one that we’ve been answering throughout our blog series on bill rate strategies. 

But what if we ask it a different way…“What’s your value?” Does rephrasing the question cast your “worth” in a new light? When bill rates are calculated on the...

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Consulting Bill Rates: Competitive Market Pricing

Today's post is on market based bill rates for independent consultants. The subject of consultant bill rates is complex, so we have broken it down into a series of posts, each focusing on one aspect of figuring out your bill rate. In our last post, we discussed “cost based” bill rates. Today, we are taking a closer look at market based rates, a slightly more labor intensive approach. While cost based bill rates are black and white...

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Consulting Bill Rates: Cost Based Calculation

For the independent consultant or contractor, a lot comes down to “cost”. That’s why the cost based bill rate is the most commonly used in the consulting industry. In this model, your goal is to cover your costs taking into consideration your utilization, or the number of billable hours you can actually work on the contract. Seems pretty straightforward, right? Not so fast. This can be an extremely successful model for the right consultant. But there are a few things to remember. For instance, you have to know ...

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Are My Consulting Bill Rates Competitive?

When you’re independent consulting, having the right bill rate strategy is critical for running a successful business, but coming up with the “right” rate can be a serious source of stress and confusion. Figuring out what to charge is the first step in developing a solid business plan, and even for experienced consultants, you should review your pricing approach every year to account for changes in the marketplace and your own growing experience level. So how should you come up with a competitive bill rate . . .

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Independent Consultant, or Unemployed Poser?

Are you really an independent consultant, or are you an unemployed poser? Sure, you want to start a consulting business. Full time jobs are in short supply, and you might be better off building a diverse portfolio of clients rather than putting all your eggs into a single employer basket. But independent consulting and freelancing shouldn’t be entered into lightly. It’s a highly rewarding career for those that possess the right mindset and personality type, and a disaster for those who . . .

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