They band to create a more valuable package to fulfill bigger needs for clients and for increased visibility and credibility.

The positive side to being part of a consortium is that you can work on larger projects. Larger than any single entrepreneur can accomplish alone. Together they can enter into contracts that require multiple skills and still maintain freedom of their entrepreneur-hood they so desire. They gain being part of a team and organization while still keeping your independence.

A consortium can provide security of core revenue that helps them breath, not chase prospects as hard, and usually take care of regular living expenses. It is also a great way to transition from employee to self-employment. The transition allows learning and growth at a slower steadier rate. Each member learns from other group members by sharing their success and mishaps. This way risk factor of being self-employed is less.

The consortium can also band products to create higher priced, more valuably perceived, packages. Larger packages are easier to sell. A group package of various authors is more attractive to buyers. Everything that buyer needs is then packaged and available with one purchase.

Being a part of group also removes pressure of trying to be an expert at everything. And allows each individual to focus and be brilliant at what they specialize. There are many types of group configurations for consortiums. Let me give you a few examples of some of them. These groups formed a single purpose.

An entrepreneur consortium can include: * CPA * A writer specialty in business plans and advertising copy * A financial management consultant * a human resource consultant specializing in benefit programs and employee manuals * An Internet consultant * Web master * Strategic planning consultant * A secretarial service or virtual assistant * Graphic artist * Brand specialist * Public relations firm

A training consortium can include: * Writers (copywriter, web writer, direction mail writer) * Editors (line editor, grammar editor) * Reference checker * Graphic designer * Multimedia specialists * Videographers * Presentation trainer * Voice coach

A software consortium can include: * Programmers * Multimedia specialists * Graphic designers * Marketing consultants * Packaging consultant * Retail consultant * Product Development consultant * Accountant/Bookkeeper * Virtual Assistant * Business coach

A consortium can form that specializes in children books or educational products. The group can consist of educational specialists, graphic designers, marketing consultants, self- publishing expert, agent, and various types of writers. Artist guilds work off same principle of consortiums. Some consortium, many guilds in fact, purchase real estate together to display and sell their art.

Let us follow money trail of a consortium.

The client enters into a contract with consortium. The consortium bills client. Each consortium member discounts his or her rate and bills consortium.

The billing difference supports business side of consortium. It can pay for marketing or other overhead expenses.

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The Value Of An Hour

When I was 21 years old, a gentleman asked me what I thought value of an hour was. I honestly did not know how to answer question. He went on to teach me one of most valuable lessons I have ever learned.

He suggested that value of an hour was priceless. This confused me some, so this is what he said to me.

'If you invest one hour each day in understanding yourself and your environment better, you will accumulate nine 40-hour weeks over course of a year!'

Yikes!

As you can imagine I was blown away when he put it to me that way.

Nine 40- hour weeks? This seemed impossible until I did math.

365 days, times one hour each is...yup, nine 40-hour weeks!

He went on to ask me how good I could get at something if I did it all day, every day for just over 2 months. Well, you already know answer to that.

I thought I could be awesome!