HourlyNerd Expands Sharing Economy To MBA-Land
The Boston Globe recently published an article by Scott Kirsner about HourlyNerd, a revolutionary new platform slated to do for MBA consultancy what Uber has done for drivers, Craigslist for odd jobs, and Yelp for restaurants.
Potentially Seismic
But, as the article points out, “unlike Uber or Airbnb, there’s no question about the legality of these online marketplaces for consulting,” which poses an industry-wide shift in the future that could be potentially seismic.
HourlyNerd was founded by Harvard Business School alumni Rob Biederman ’14 and Patrick Petitti ‘14. The duo’s theory that “business school students and alumni might want to earn some extra cash by taking on consulting projects” quickly caught the attention of Dallas Mavericks’ owner Mark Cuban, who invested nearly $750,000 in start-up capital. Since then, HourlyNerd has “raised another $9 million, and employs about 55 people.”
Current clients include Staples, American Apparel, Microsoft, CDW, and Pizzeria Uno.
“Uber for Expertise”
Kevin Dawson, an IT engineer for GE, called HourlyNerd the “Uber for expertise.”
The basic premise of the site is that companies of all sizes can connect with over 20,000 independent highly qualified business consultants on a project-by-project basis. Companies post project details—“what you’re trying to get done, a start date, and a ballpark estimate of what you’re willing to pay”—while consultants review and bid on projects.
A quick perusal through HourlyNerd’s task database offers a wide range of projects, from “market research to supply chain streamlining.” Companies can then review consultant ratings and comments from past clients before they pull the trigger.
Gary Swart, former CEO of talent marketplace Upwork and current partner at Polaris Partners, believes that companies like HourlyNerd are part of a broader trend in e-commerce that began with eBay, continued with real estate, and evolved to encompass freelance graphic design, copywriting, and coding. Of the present moment, he asks, “Why not a lawyer, an accountant, [or] a strategic consultant?”
Former Dell operations executive Marisa Goldenberg began using HourlyNerd in 2014 and says the site is now “her sole source of work.” She started small and then hit pay dirt last year when a Fortune 20 industrial company contracted her. “There’s nothing that helps you more to get future clients than to have previous clients sing your praises.” She also uses the site to put together teams when she needs help with bigger projects.
Daniel Callaghan, CEO of HourlyNerd’s chief competitor MBA & Co, believes that the overarching trend in the workforce leans toward this new platform, which is faster, more flexible, and more cost efficient—up to 70%—than traditional consultancy firms like PwC.
“We’re at the beginning of an inexorable shift to more and more knowledge work being done outside of a company’s borders.”
As the article ominously points out to any business consultants sweating through their skivvies as they read this: “Perhaps it’s time to start thinking about how you make yourself indispensable to your current employer, or how you might craft a life as a brain-for-hire.”
About the Author
Jonathan Pfeffer
Jonathan Pfeffer joined the Clear Admit and MetroMBA teams in 2015 after spending several years as an arts/culture writer, editor, and radio producer. In addition to his role as contributing writer at MetroMBA and contributing editor at Clear Admit, he is co-founder and lead producer of the Clear Admit MBA Admissions Podcast. He holds a BA in Film/Video, Ethnomusicology, and Media Studies from Oberlin College.
