Expert networks in every field and industry are more important than ever in the fast-paced world of today. Identifying the advantages will help organizations remain ahead of the curve and will give insight into how these networks work and why they are so beneficial to companies in certain sectors.
This blog post examines the value of expert networks in today’s diverse marketplaces and global competition. Keep reading!
A Brief Outline On Expert Networks.
Expert consulting network is a rich source of knowledge. The core offering is a pre-arranged, hour-long phone call between a client (typically an investor or consultant) and a seasoned industry expert. The basic idea is the same, but there are variations, including 30-minute conversations, video calls, in-person meetings, written surveys, group conferences, and more. Through compensated interactions where information is transferred, expert networks identify and link industry professionals with paying customers.
It is not the goal of this marketplace to facilitate repeated encounters between the same industry expert and the same client. After all, you may desire to learn about X one day and need to know about Y the following week.
The goal of this market is to connect:
- the same customer to various experts, or
- the same expert to many clients.
Coping With the Increasing Complexity of the Planet.
Existing data platforms are unable to keep up with the complexity of the world, which means that a great deal of precious knowledge is trapped and unrecorded. Even Google (at least as of now) cannot index what is in people’s minds. The unstructured, tacit knowledge you hold in your mind is some of the most priceless data there is.
Sometimes, until someone starts talking to you, you don’t even know what you know. And the conversation that follows results in the synthesis of new, profound insights that are beneficial to both parties. The power to communicate with expert advisors becomes increasingly crucial in today’s complex, fast-paced world. And that is the benefit offered by expert networks.
Information As A Drug
Paid expert calls are a product that is addictive. A real-life example will show why.
A hedge fund investor used to be on the client side of these expert network calls. It’s a fact that an industry expert is more knowledgeable than the investor about this field, even if they can’t answer all the questions entirely. And whatever happens, the investor sure will pick up some new knowledge from the expert.
Learning can be compared to swimming in a magical pool. You can kind of see the floor in this amazing pool’s shimmering water, but as you go deeper, you realize that the floor is farther away than you thought. And that you will never get to the bottom. Like a transitory mirage, the walls of this pool get farther away as you swim horizontally.
The hedge fund investor has consequently always walked away from expert chats with fresh perspectives and new questions. She/he is not just a happy customer, but as they eat, their hunger increases.
Paid expert calls are also addictive on a personal level, and once you start using the expert network consulting service, eventually your competitors will have to as well. They will be left behind if not.
Advantages For The Independent Consultants
- Working with expert networks as an independent consultant enables you to network with and learn from corporations, industry consultants, and professional investors. You can also earn a competitive salary and get paid for referring colleagues. Phone calls, presentations/in-person meetings, surveys, white papers, and in-depth consulting assignments are the five main ways you’ll typically offer your experience.
- You can save time and money by joining an expert consulting network. Access to potential projects with the expert network’s clients is free of charge for members. The cost of marketing is likewise quite low. Even though it’s in your best interest to actively seek out the kinds of projects you want to work on, the expert network will connect you with a client if a match exists. Additionally, since the client pays in full up front and the firm handles this for you, you don’t have to spend time negotiating or chasing payments.
- These engagements also provide a great deal of flexibility. The networks have very low expectations of you: if they match your expertise with a client’s needs, they will send you a request, which you can accept or reject within 48 hours (typically). The consultation is solely between the customer and the expert advisors due to confidentiality concerns. There isn’t a set amount of time that you are required to work because you are paid by the hour or by the project.
The Final Words
Expert networks are bridging the gap between the lack of necessary knowledge in the internal teams and the availability of knowledge externally, through outsourced independent consultants.