Summary of 1st Women’s Consultants Group meeting on Thursday, April 4, 2019, at 5 P.M. Eastern.
The group did introductions including name, location and consulting practice area and then opened up to the issue discussion format.
One member had 3 minutes to describe her issue about being asked by a startup to provide strategic consulting for a new business launch. The consultant had provided specific assessment projects for mature companies but never consulted with a start up.
The group members had 3 minutes to ask clarifying questions be providing possible solutions .
After clarifying questions, a lively discussion ensued, in which many solutions were suggested, including proposing a base monthly retainer with an allowance for charging additional hours or an option to get an equity position in the startup. A member pointed out that because 1 in 10 startups fail, the equity amount should be at least 10 times what one would charge in fees.
The group agreed to record the programs so members could listen to the discussions after the live session.
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