How Nomad8 works and why

What do you get from being part of Nomad8?

 

  • A professional home – being a freelance consultant can be lonely. Nomad8 provides a home for you.
  • Collaboration / Team – you’re part of the team, you have colleagues, peers and people to bounce ideas off, talk to, collaborate with etc. At the same time you maintain your independence.
  • Templates – the collection of documents, presentations, proposals, reviews, books, resources, reports etc that we share through Dropbox is an invaluable resource that grows constantly
  • A company – contracting through Nomad8 means you can get higher rates than if you were an individual. Nomad8 as a company takes the risk for any work done.
  • Reputation / Brand – increasingly known in the marketplace, an association with Nomad8 improves your prospects and ties you into the reputation we have for doing excellent, high quality work. Equally you are supported by the website, the blog and any promotional activities we do.
  • Account Management – you show up and do the work, we take care of the client relationship, finances, invoicing, issues, or anything else the client needs
  • Networks / Meetings – being part of Nomad8 opens you up to our extensive networks of connections in Wellington and Auckland. We share these networks and contacts and we are constantly refreshing and renewing them with meetings, conversations, coffees, conferences and Kanbanfor1.
  • New business support – we are all responsible for finding our own work, however if there’s too much, or something comes up you don’t want or are unable to do, then we spread it around the team. Proposals and negotiations are usually handled by Brenda and Sandy, although you’re welcome to do it yourself.
  • Monthly meetings – discuss, debate, upskill, question, plan, share.
  • The opportunity to grow your presence in NZ and internationally by having the opportunity to publish on a blog with an established readership of 300 – 400 unique visitors per day.

 

How do the rates work?

We see being part of Nomad8 as a privilege, and we all leave a small percentage of our monthly income in the company. In addition there is a monthly subsidy. Regard it as kind of a membership fee.

 

This money covers some of the costs of running Nomad8, but also compensates the owners for the time that goes into keeping things humming, which is effectively time they can’t be doing chargeable work.

 

For ‘Full’ Nomad8 members

 

A full Nomad8 member is someone who works for Nomad8 and only Nomad8. Most of us will be full members and usually work between 2 and 4 days a week.

 

Rates consist of a fixed and a variable part: A monthly membership fee of $500+GST and a percentage of earnings.

 

There is a baseline percentage for any member of Nomad8 of 15%. For this percentage you get all the elements noted above.

 

For anyone new who starts with Nomad8, or those with less experience, fewer contacts or who have not brought much IP into the mix, the percentage is 20%.

 

This additional levy covers:

  • The running of Nomad8 as a business
  • The time other team members take to provide additional support
  • The additional risk the company takes with new or untried people
  • Some recompense for access to existing networks and IP

 

The idea would be to review this rate after 6 months  Shifting to a new rate will depend very much on how much support is still being required, how much of a network the person has built, how much someone has contributed to the shared IP,  how much experience has been gained, and on having a track record of successful client engagements.

 

For ‘Part’ Nomad8 members

 

A part Nomad8 member is someone who has a full time job but occasionally works with Nomad8, for example they might do one day a fortnight, or occasional training courses.

 

Rates still consist of a fixed and variable part: A monthly membership fee of $100+GST and a percentage of earnings through Nomad8.

 

How are we structured?

 

From the beginning we wanted to make a home for consultants. A place where everyone has a say in how things run and what decisions are made.

 

The construct of a company with subcontractors is just the easiest structure to manage and is how we set it up so we could get things underway easily and with minimal involvement of lawyers, bureaucracy and admin for the sake of it.

 

There is no ‘leader’, no ‘boss’, no ‘management’. There are owners, but they operate in the company in the same way as everyone else – contributing a monthly fee and percentage of earnings.  There is a shared responsibility for quality, for learning, and for taking the company forward.

 

If you’re in Nomad8 you don’t contract through another agency. If you’re out of work and want to do this, then you leave Nomad8. If you want to take employment, you leave Nomad8.

 

If you’re not having fun, if you don’t like this approach, if being a consultant is not your thing, or you require more security or anything else then it’s okay to leave. We’ll still like you.