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Consulting Tip of the Month
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PRICING YOUR
CONSULTING SERVICES - PART I
By William Golton,
PhD, Chemical Consultants Network
One of the first questions raised when considering a
consulting practice is how much to charge clients. You should keep in mind that an independent
consultant only gets paid for time worked. No vacation pay, no sick pay, no pay for time spent trying to get work,
no pay for your administrative work. And
you have to finance your own benefits, such as health insurance, retirement
set-asides, etc, plus various other business expenses.
If you are famous and practically unique in your area of
expertise, you can probably charge anything you wish; $500 -$1000 per hour is
not unheard of. But for the rest of us,
a good rule of thumb is to try to average two to three times your income in
industry, reduced to hourly pay. For
example, if your annual income was $110,000 when you left your last employer,
which comes to about $50 per hour, you might aim for fees based on $125 per
hour on the average. "On the average"
considers that your fee may vary, depending on the size and nature of the
assignment. Stay tuned for next month's
tip on the second series of how to price your service - assessing the work.
Link to selected published resources on how to price
consulting fees here.
Email us your suggestions on topics/tips you want us to cover in future issues.
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Improve your skills with ACS Webinars! CLICK * WATCH * LEARN * DISCUSS. American
Chemical Society Webinars is a weekly online event serving to connect ACS
members and scientific professionals with subject matter experts and global
thought leaders in chemical sciences, management, and business on relevant
professional issues. Each webinar is 60 minutes in length, comprising of a
short presentation followed by Q&A with the speaker. Join us every Thursday from 2-3pm ET. To register and to find upcoming events  September 2, 2010 - Programs and Funding
Opportunities for Manufacturers and Small Chemical Businesses. Do you
know that the U.S.
government provides much assistance to help small chemical manufacturing
business better compete? The government sponsored Manufacturing Extension
Partnership Program (MEP) is a national network with thousands of specialists
that help manufacturers and small businesses, from improving productivity to
expanding capacity. Join us with speaker Douglas Devereaux, Senior Industrial
Specialist with the National Institute of Standards and Technology (NIST), as
he shares the must-know resources for chemical manufactures and small
businesses!
 September 9, 2010 - How
Scientific Skills Are Used in Advising the Movie Industry - Facts and Fiction. Love movies? Love science? Love
movies and science? Using his 15 years of scientific research experience on
pompe disease, Dr. Barry Byrne from University
of Florida provided his
scientific expertise in the make of the movie Extraordinary Measures,
released in January 2010. You can also apply your science skills to help the
movie industry. Learn about career opportunities for scientists in the film
industry and get the insiders view. Join us and Dr. Bryne as he shares his
experience advising the movie industry.
 September 16, 2010 - Diversity: Old Topic
- Fresh Conversations. Find business conversations about Diversity frustrating? Enhance your ability to engage in
conversations with leaders so that they listen, hear you, and move to action. Join our speakers, Cathy Bristow and Lolita
Chandler, diversity consultants who can help you create fresh, engaging
conversations on diversity in a business context to inspire others to listen,
learn and act.
 September 23, 2010 - Demystifying
SBIR/STTR Grant Applications and Processes for Entrepreneurs and Small
Businesses. Calling all
entreprenuers and small business! Have ideas and need funding? The National
Science Foundation's (NSF) Small Business Innovation Research (SBIR) and Small
Business Technology Transfer (STTR) programs provides funding opportunity for
small firms to develop cutting edge, high risk, and high quality scientific and
engineering research with commercial opportunities. Join us with speaker, Dr.
Josephine Yuen, Program Director at the NSF, as she explains and answers your
questions on securing funding.
 September
30, 2010 - Global Patent Protection and International Business Strategies. Science and business
opportunities are no longer confined to the United States. Do you know how to
protect your research and inventions in this global market? In short, as
scientists, you need to know about today's global marketplace to protect your
work. Join us to learn from our speaker, Dr. Michael Brodowski of K&L Gates
LLP, strategies you need to know to protect your work and develop your
international business.
More information and registration... Have ideas? Send us your suggestions for future ACS Webinars topics. acswebinars@acs.org
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Can't attend the live ACS Webinars? To access recordings of past ACS Webinars, please visit our on-demand content library. |
Want to get information on other webinars and online events? Go to acswebinars.org/more-events to get info and link to other upcoming webinar events pertinent to the chemical community. ACS Careers Job Club Webinar Series
- Whether you are looking for your
first job or seeking to advance or transition in your career, ACS Career
resources give you a competitive advantage in your job search. Please join us for the follow
informative webinars and Get a Jump on Your Career!
September 14, 2010 - Sustainability and You October 12, 2010 - Technical and Leadership Skills to Advance Your Sustainability Toolkit November 16, 2010 - Aligning Your Unique Capabilities with the Goals and Strategies of Companies
C&EN Webinars - C&EN partnering with company vendors to bring you relevant technical information. September 9, 2010 - Core Technologies for Chiral and Specialty Intermediates for Pharma September 16, 2010
- Hopscotch and Jump Rope - Get lead hops, scaffold hops, and
step-jumps in potency, with unique computational strategies for
molecular design September 23, 2010 - Stabilized Lithium Metal Powder (SLMP®): A new approach for energy storage and other applications
ACS-NY Chemicals and Marketing Group -
Chemical Marketing & Economics Group, A topical group of the NY
Section of the American Chemical Society, helps its members by
organizing group meetings to promote networking on the business,
economics and technological developments in the chemical and related
industries including materials, energy and life sciences. September 9, 2010 - "Brazil/Latin America, resource-loaded and ready for prime time" October 7, 2010 - The Anatomy of a Deal
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Joint Societe de Chimie Industrielle and ACS Meeting on Green Chemistry: Catalyst for Sustainability. Practitioners of green
chemistry focus their efforts on products and processes that minimize the use
and generation of hazardous substances. Investor Josh Wolfe (Lux Capital) and process
chemistry leader Skip Volante (Merck Research Lab) will discuss the benefits and rewards accruing to
their businesses through a focus on green chemistry in a discussion moderated by Bob Peoples (ACS Green Chemistry Institute®).
Wednesday, Sept. 15,
2010 at Hyatt Regency Jersey City, NJ.
More info about The Société...
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 Society of Chemical Manufacturers & Affiliates (SOCMA) Member/Guest Golf Tournament. Hit the links with industry colleagues in support of
talented undergrads starting their science careers. Your participation in the tournament
will support the ACS Scholars Program, which provides scholarships,
mentoring, and internships to guide underrepresented minority chemical science
majors along the paths to degrees and careers in chemistry. Join us to play,
network, and support ACS Scholars on September 28 at the exquisite Chester
Valley Golf Club in Malvern,
PA.
Register today.
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 National
Chemistry Week is October 17 - 23, 2010. This year's theme is "Behind the
Scenes with Chemistry!" There are many ways in which industry members may
participate. We have compiled a few ideas for you. Explore the special effects in movies to appreciate that it is
not magic, but rather common chemical concepts which explain the mystery behind
the "magic" that is shown. Visit www.acs.org/ncw for more information and
resources for this year's theme.
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Want your events included in The Distillate and/or ACS Webinars webpage? Please email us your events info with the subject title 'events'.
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What do You Think is the Right
Direction for ACS to Take?
The ACS
Strategic Plan is intended to serve as the foundation for the work the Society
does to better serve our members, our stakeholders, and the chemistry
enterprise. The plan has evolved annually to respond to the challenges and
opportunities that we and our science face. The Board of Directors and its
Planning Committee are currently reviewing the plan and adapting the goals and
strategies for 2011 and Beyond. As the Society prepares to face new situations
and trends, some new approaches have been suggested. Visit https://communities.acs.org/groups/acs-strategic-plan to learn more about the draft revisions, share your perspectives, and
participate in the ongoing discussion of what ACS strategy should be.
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Chemistry Grads Continue to Grow. Numbers of chemistry graduates rise 4.7% from the previous year at U.S. universities and colleges
approved by the American Chemical Society Committee on Professional Training (CPT); a record 14,577 bachelor's degrees in chemistry were awarded for the
2008-09 academic year. Read the report from C&EN Magazine... |
Chemists in the Community
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10 things (humor) you never say to a chemist!
- Where are your safety glasses?
- Didn't this reaction have a top on it a second ago?
- You scaled it up by how much?
- I think this glove has a hole in it!
- Nice shorts.
- Got a light?
- You put that in the antechamber, right?
- I'll just mouth pipette that.
- What color was that supposed to be?
- Here, use mine!
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Laughing Chemist
Q: What do you call a tooth in a glass of water?
A: One molar solution. Courtesy of Inorganic Ventures. If you have funny chemistry Q&A you would like to be featured in this newsletter, please send it to us at imp@acs.org. |
 Challenge Quote of the Month - win an ACS Proud to be a Chemist lapel pin.
"Somewhere, something incredible is waiting to be known." by ???
Who is the famous scientist attributed to the inspiring quote above? Send us your correct answer to win the lapel pin. Two winners will be selected for this popular pin.
Email us (imp@acs.org) your answer by September 22, 2010 to be entered into the drawing. Answer and winners will be posted in next month's edition.
Congratulations to Myneeka Cook of IBM and Subhash Banerjee of University of South Dakota for the correct answer to last month's challenging quote contest "A foolish faith in authority is the worst enemy of truth" by Albert Einstein. Winners were randomly selected from all the correct entries received and will receive an ACS Frisbee. Thank you to all who entered the contest.
This month's quote was submitted courtesy of Bill Motzer with Todd Engineers. Send us (imp@acs.org) your favorite scientists' quotes and if we use your submission, we will send you a surprise prize.
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Reach >100,000 scientific professionals. If you would like to submit an article, news, or upcoming events for next month's
newsletter, email us by 5:00 pm Eastern Time on the third Friday
of the month to imp@acs.org. Inclusion is subject to space and
editorial discretion.
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