Frequently asked questions for advisors 2017-11-26T01:24:21+00:00

Frequently asked questions

What does DeepBench do?

We connect those who have complex business questions to advisors like yourself who can provide insights. We pay you at whatever hourly rate you set, and charge a premium to our clients.

DeepBench’s clients are generally leading investment and consulting firms. DeepBench also caters to corporate clients ranging from large enterprises to small start-ups.

How do clients use DeepBench?

Clients approach DeepBench to identify advisors to help them with their most critical business problems. They seek to gather expert insights, to validate hypotheses, and to make informed decisions for strategic initiatives. Often, clients are looking to learn nuances within an industry where they lack expertise in an efficient and effective manner.

 

How do consultations work?

When you join DeepBench as an advisor there are two ways we can work together.

  1. Curated Experience– We will send you carefully selected opportunities for consultations with our clients. These opportunities will be matched to your individual experiences and areas of expertise.
  2. Self-Service – You can create a public profile on our portal. Clients will reach out to you directly with projects and you can gauge if you are a good fit or not.

Consultations typically take one of two forms: (1) 30 – 60 minute phone call with the client or (2) survey or written feedback to questions. The approximate length and format of a consultation will be specified in advance.

Is there any pre-work or preparation required prior to a consultation?

Other than a few screening questions to qualify our advisors for the consultation, no preparation is required prior. By nature, consultations are intellectual discussions where the client is looking for your unique insights. Clients are generally not looking for advisors to produce any work or output, unless specified in advance.

What questions will I be asked during a consultation?

Under our Curated Experience model – When DeepBench presents consultation opportunities to our advisors, we will provide a brief description of the scope of the research being conducted. A good way to anticipate the line of questioning is to review the screening questions that are provided.

Under our Self-Service model – Clients will reach out to you directly with their requests, and you can gauge for yourself if you are a good fit to answer the questions or not.

For compliance, both clients and advisors are expressly prohibited from asking or discussing confidential and or sensitive materials and topics. Content of consultations should pertain solely to information accessible through public means. These stipulations are protected and upheld by DeepBench’s Terms and Conditions for both Advisors and clients.

What personal information will be made available to clients?

Under our Curated Experience model – When we present Advisors to clients for potential consultations, we will provide titles and a brief work history. After a consultation is scheduled, we make available the name of our advisor for our client to validate the authenticity of the consultation.

Under our Self-Service model – Clients can see your name, profile picture, background info and any social media links that you wish to include on your public profile.

Per our Terms and Conditions with clients, names of our Advisors are to be treated as strictly confidential and cannot be shared with any other parties or used in any content without the Advisor’s previously stated consent.

Why do some clients wish to remain anonymous?

Some clients want anonymity because publicizing their name would have an adverse impact on something that they are working on.

For example, it could be an investment firm looking at at M&A deal. Or it could be a large enterprise looking to conduct a major strategic shift. Or it could be a consulting firm trying to restructure a business that might result in layoffs.

Can I reject a consultation request?

Definitely. You are under no obligation to accept any consultation request.

How much do I get paid, and how does DeepBench make its money?

You can set your own hourly rate.

Under the Self-Service model, we charge a premium of 30% to cover compliance, scheduling, and other logistical costs. We pass on this surcharge directly to our client.

One major reason that DeepBench charges this premium is that we will occasionally arbitrate disagreements between advisors and clients. Sometimes we will refund the customer their payment and pay the advisor out of our own pocket.

Under the Curated Experience model, we charge a higher premium to cover the higher level of service required to meet client needs. We will sometimes offer discounts and bulk packages for these clients. But not to worry, you still get paid the standard rate that you set.

Do I have to deal with taxes?

We will only request a Form 1099 (US tax payers) if you make more than $600 / calendar year with us.

If I sign up, will I be spammed by irrelevant / uninteresting requests?

Under our Curated Experience model, DeepBench will only send you tailored requests that are relevant to you. Typically, we will not send advisors more than 3 project inquiries / month.

Under our Self-Service model, we have systems in place to make sure that you can manage your inquiries effectively. These include:

  1. In general, only those clients who are logged into our system can message you.
  2. You can set your preference such that only those who have paid up-front can message you.
  3. You can elect to receive messages in bulk on a daily / weekly basis.

What are my legal obligations?

  1. For clients that we introduce to you through the Curated Experience model, we have contracts in place with those clients that prohibit them from engaging with you outside of our system.
  2. For clients that find you through our Self-Service model – you are welcome to engage with them as you please, within the confines of the law.

Under both business models

  1. During consultations with anyone on our system, you should not reveal anything sensitive or confidential, especially anything that can lead to insider trading or other illegal activities.
  2. We ask you to abide under any agreements (i.e. employment agreements, severance agreements) that you may have signed that would prohibit you from advising people through our system.

More information can be found here.

What if I wish to enter into a long-term engagement or full-time employment with a client I meet through DeepBench?

For clients that we introduce to you through the Curated Experience model, we have contracts in place with those clients that prohibit them from engaging with you outside of our system. If they wish to engage with you for full-time employment, they are obligated to pay us a headhunter fee.

For clients that find you through our Self-Service portal model – you are welcome to work with them as you please, within the confines of the law of course.

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