As a consultant in the payments industry, what should you definitely do—and what should you avoid doing?
Payments
Asked by Question Bot08/Mar/20141 answer
1 Answer
F
Faisal Khan
Answered 08/Mar/2014
A few pointers, as a Consultant...
- First and foremost, do not take assignments that become conflict of interest with either your existing clients and/or your personal projects.
- Do not settle for equity stakes or revenue sharing. This would compromise your overall concentration and objectives. You should be paid for your services and they should not be part and parcel of any revenue generation.
- Everything needs to be documents. Everything. All forms of communication.
- All phone / Skype calls to be recorded. I for one record everything. I have a screen recorder as well as an audio recorder for phone and Skype.
- No need to under-promise and over-delivering in the hopes of elongating an assignment or getting additional financial benefit. Just deliver what you promised. That by itself is a task well-done.
- Become and extension of the organization you work for. Do everything in their best interest.
- You will be tried and tempted to share information (that otherwise is not allowed), or be part and parcel of a deal-tilt. Just don't do it. Your integrity depends on it.
- When you mention the word Consultant, people automatically assume (incorrectly) that you are expecting a cut, or some form of commission. When engaged in an assignment, and you contact someone, make it clear you are already being compensated by your client and that you are not expecting any compensation from the party you are talking/engaged to.
- DO NOT say yes to projects that are beyond or even on the periphery of your domain expertise.
- If you cannot deliver something mid-project, come clean and come clean fast with your client on this inability to deliver. There is no shame in this and the faster you can excuse yourself from such a situation, the better it is for both parties involved.
- Take as much time as you want, but your consulting contract should spell out your Deliverables /Non-Deliverables in as much detail as you can. Do not compromise on this.
- Insist on an online project plan and reporting process that is either daily or weekly based.
- Your goal as a Consultant and project manager (from your own side) is to document everything in writing. Nothing should be left to the verbal exchange. Especially approvals or denials.