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How to dramatically increase your consulting revenues via the major expert networks: Gerson Lehrman Group Coleman Research Group DeMatteo Monness Guidepoint Global (Vista) Intota Kingfish Group Primary Insight Round Table Group MEDACorp (Leerink Swaan) Sermo
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© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
Double Your Consulting Incomewith Expert Networks
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David TetenPartner, ff Venture Capitalffventure.comblog: teten.com@dtetenNew York, [email protected]
© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
David Teten Biography (teten.com)• Partner, ff Venture Capital, early-stage technology venture capital fund• Founder and Chairman, Harvard Business School Angels of New York• Founder and Chairman, Navon Partners, startup focused on sourcing deals for private
equity funds• Managing Director, Evalueserve, through September 2008. 2,500-person finance-focused
research and analytics firm. • Founder and CEO, Circle of Experts (investment research firm), sold to Evalueserve• Founder and CEO, Teten Executive Recruiting, sold to Accolo, #42 on 2007 Inc. 500• Founder and CEO, GoldNames, domain name investment bank, based in Israel• Technology/Defense Investment Banking, Bear Stearns (#1 group at Bear investment
banking by revenues) • Lead author, The Virtual Handshake: Opening Doors and
Closing Deals Online (TheVirtualHandshake.com)• Harvard MBA 1998, Yale BA, both with honors.• Contact: [email protected]
© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
Expert Network Business Model
InvestorInvestor BuyersBuyers
AcademicsAcademics
SupplierSupplier
GovernmentGovernment
New Entrants
New Entrants
CompetitorCompetitorCorporate Alumni
Corporate Alumni
based on Competitive Strategy: Techniques for Analyzing Industries and Competitors, Michael Porter.
ManagementManagement
© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
Major Expert Networks
• Multi-Sector• Gerson Lehrman Group• Coleman Research Group• DeMatteo Monness• Guidepoint Global (Vista)
• Specialty/Other Players• Intota• Kingfish Group• Primary Global Research• Primary Insight• Round Table Group
• Medical• MEDACorp (Leerink Swaan)• Sermo
• Large Parent Companies• Evalueserve Circle of Experts• Goldman Sachs Vantage
Marketplace• Reuters Insight
© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
• Interact with professional investors and corporations• Strategic, thought-provoking projects• Competitive compensation
• Receive referral fees to introduce colleagues
The big NO’s• No membership cost• No marketing cost • No time spent on negotiating
or chasing payment
Benefits To Expert
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© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
• Phone calls• Presentations• Surveys• White papers• Longer consulting projects
Engagement Models
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© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
• Accept/Reject request within 48 hours• Consultation strictly between you and client• No fixed obligation
How Expert Networks Operate
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© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
• Experience• Industry Recognition• Academic credentials
• Access to unique knowledge• Affiliations
• Communication skills
• Irrelevant for expert networks: social skills, management skills
Criteria for Consultation
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© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
• Update your availability and bio• Quantify achievements• Explain how you acquired
your expertise• Insert specific keywords
• Identify firms you touched• Focus on industry-specific
knowledge
Filling Out Your Profile
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© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
• Ask• Mail your liaison when
you have insight into a hot topic• Apply for open projects• Go on-call• Contribute to Expert Network
news service (e.g., GLG News)
How to Win More Consultations
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© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
• Observe compliance restrictions• Review current news• Ask questions to understand
the client’s hot buttons• Make sure to answer
client’s key questions• Acknowledge your limits• Offer referrals
How to Prepare for Consult
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© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
• Register at expert network and interim executive web sites (and LinkedIn, job boards, etc.)• Biography• Hourly billing rate• Resume
• Consider becoming a public expert: PRNewsWire ProfNet, HelpaReporter.com
Next Steps
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© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
Biography Analysis Software
© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
Contact Management
http://misbridge.mccombs.utexas.edu/knowledge/topics/crm/
• Act.com
• EGrabber.com
• Cardscan.com
• Plaxo.com
© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
Blog and Web Readers
© 2008. All Rights Reserved - Privileged and Confidential© 2011 David Teten. More at ffventure.com and teten.com
Any questions ?
Slides at www.Teten.com