| Bits that were not obvious in retrospect and not previously covered in Patrick's writings or just obviously really important. 1. Patrick's consulting rate has more than septupled since he began consulting (or possibly just this year, can't remember.) 2. The longest he has ever waited to get paid by a client he would be happy to work with again is nine months. 3. On a related note: The bigger your client is the more bureaucratic BSthey will have so they get the special “I expect dealing with you on a business level to be hell” surcharge. 4. Becoming a consultancy is a different deal from being a consultant, even an extremely high end one. Brennan made less as yhe principal of a consultancy than as a consultant for the first year and a half. If you take the commendable attitude that making payroll is sacred you should have $30K set aside for “Despite cashflow issues, we made payroll” purposes. 5. On a related note: When the business has a bumper year employees get a 3-5% payrise. When things are looking like shit they still get paid what was previously negotiated, on time. Most people are, quite sensibly, risk averse. If they want the upside they can take the downside too. There is a great deal more that's very valuablr in the transcript, like the discussion of the change in attitude that comes with charging more nut those struck me especially. Oh, and there's a link to a tptacek ccomment that is step by step guide to making LOTS AND LOTS OF MONEY. |
4. That's 30k per employee.
I'd have edited the original post but commenting on HN from a Lenovo phablet is hell.