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Finders Fees

 
#1 Finders Fees
06/08/2002 00:00

Ed

I am freelance consultant and work for several boutique strategy consultancys from time to time as well as occasionally working by myself on business dvelopment projects which I win myself.

Working in this way has allowed me to gain a lot of sector knowlege and I sometimes find myself well placed to originate deals in certain niche markets. Does anyone know where I can get some standardised templates so I can agree a suitable finders fee with my clients. Also, I am slightly out of touch with fees for this sort of activity. I understand that the Lehman scale is for executionary work and I am just looking to make introductions. Should I base my fee on this? If anyone can offer ideas on fees and how to structure them for introductions, I would be most grateful.

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#2 Re: Finders Fees
08/08/2002 00:00

Stuart

We currently pay finders fees to a number of associates for client introductions, meetings and insome cases signed contracts for cash-flow and cost-reduction advisory services. If you would like to discuss, please call me on 07900 696 483

The Optima Partnership

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#3 Re: Finders Fees
08/08/2002 00:00

David Greaves

I am trying to establish myself as a freelance consultant - I am interested in speaking with 'Ed' in order to understand how he established himself.

Any help or advice would be hugely appreciated.

Dave.

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#4 Re: Finders Fees
08/08/2002 00:00

Ian Michael Gibson

Fees will depend on how far you actually take the "finding". If you take the contact all the way through introduction, developemnt meetings to a scoping exercise and a signed contract for a consulting project, you should be looking at about 10% to 12.5% of the fees billed. That is what a business developer would be expecting.

If you are doing less then empirically scale back the value to the introduced parties. And be prepared to work on a flat fee or 2.5 to 5% of potential nett fees.

But remember - do get a written contract in place before you start

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#5 Re: Finders Fees
08/08/2002 00:00

Gary Homes

Hi Ed,

I'd concur with some of the advice you've already been given in that it depends on how far you take the introduction - basic intro IRO 2.5% to 5%. For closed sales however I'd suggest you try to find out what a usual cost of sale is fot the firm you handed the deal to. I would suggest that most are looking at a cost of sale IRO 20% to 25% of revenue (taking account of fully loaded cost of sales salaries, sales commissions, sales management, sales team benefits, etc) so see no reason why you should not pitch for that level to start any negotiations.

An off-the-wall thought - have you considered delivering these "deals" you win through a network of freelance consultants so creating a "Virtual Company" for yourself. That way, you can set the entire deal price, pay sub-contractors for the contribution they make to the delivery and retain all the profit on the deal for yourself? Just a thought....

All the best.

Gary

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#6 Re: Finders Fees
09/08/2002 00:00

Larry Traynor

Hi, I'm active in a similar space and would be happy to talk to you directly about "finder's fees" - contact me with some brief biographical info (CV in strictest confidence is fine) at larry@manhattanassociates.net. PLease include telephone number as well for a quick and more substantive reply.

Best regards,

Larry Traynor

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#7 Re: virtual company
09/08/2002 00:00

Roy MacMillan

Hi Gary,

Your suggestion of a virtual company is one that has crossed my mind many times in recent months. The issue for me is in building a reliable network of trusted consultants - perhaps this is the forum to achieve that.

Ed's skills as a 'finder' could be very valuable on a commission basis if well targeted (ie clear profile and aims of virtual company based on core network participants skills and values).

I would be happy to develop this thought to virtual reality with you, Ed or other interested parties.

My own focus is brand consultancy - positioning, strategic direction and communication. I often work in association with design, marketing and advertising agencies and take projects through to implementation. I am particularly interested in multinational work and have strong Japanese experience.

Is there anyone else out there who would like to develop this further....

Roy

roy@orientation.co.uk

tel: 01753 663800

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#8 Re: virtual company - we have it
09/08/2002 00:00

Karsten

Hi, Roy, we are a virtual consulting company with over 20 freelance consultants in Europe, US and CIS/NIS. If you are interested - no problem. Contact me - and you became a part of the net - to your inform this virtual company is also registrated by EBRD Direct Investment facility.

Karsten

contact info@parchmann-international.de

or www.cy-ber.net

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#9 Re: Finders Fees
12/08/2002 00:00

Rukhsana Adam

Ed,

Am doing a MBA dissertation on corporate finance boutiques - what are survival and growth strategies in the current market conditions.

Would you give me 5 mins of your time and thoughts. It would be much appreciate.

Regards

Rox Mobile no 0793 1772017

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#10 Re: virtual company
22/08/2002 00:00

Scott Boys

Roy,

Are you familiar with IntellectExchange? Their site http://www.intellectexchange offers a variety of services designed to assist you in locating needed expertise on short notice.

Here is a brief description of their business:

"IntellectExchange is the premier destination for locating top experts in business, science and technology who are willing and able to perform market studies and small projects, act as expert witnesses, serve on expert panels, speak at symposiums, give strategic advice, and many other activities."

They have a network of over 230,000 individuals around the globe who are prepared to provide expertise as requested, for a fee.

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#11 Re: virtual company
04/09/2002 00:00

Roy MacMillan

Hi Scott,

Thanks for the idea and I will contact them.

However I was thinking about a more active project focussed organisation helping clients move their businesses and brands forward.

Best,

Roy.

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#12 Re: Finders Fees
12/02/2003 00:00

Kam Eftekhar

Typically finders fee is 10% of total fees booked to the client (less the part you performed, if any).

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