Small Independent Experts Deserve Passive Revenue Streams

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Not all Small Business Expert Providers care very much about money.  Many of us have packages from many years in pharma, but are staying involved to contribute value.  Many of us, when we have too much work,  freely and happily provide references and introductions to clients and other independent experts in the name of Goodwill.  This is great!

However, consider:  In Dec 2021 LifeSciHub became aware of a large clinical operations technology vendor so in need of talent, due to the Great Resignation and other factors, that they are now offering a $10,000 bonus to employees who help recruit talent among their personal professional networks.

This vendor has recognized that we in industry, on the front lines of drug development, have professional networks that are ASSETS.  This vendor, and many other companies as well, have now started to quantify the value of network assets.  In this particular case, the value was $10,000.

Small, independent businesses have no such benefit.  The money we make is limited by our billable hour.  Beyond that, it is up to us, individually, to pay for health and other insurance, vacation and sick time, retirement, and our taxes.

LifeSciHub believes that all of our professional networks, hard earned through years of professional productivity, are quantifiable assets.  Thus, we have created the Connector Model as a way to harvest that value as passive income streams (something all entrepreneurs should greatly appreciate and strive for!).

In that spirit, LifeSciHub is pleased to share the Connector terms from our 2022 Expert Provider Agreement, below.  LifeSciHub’s current goal is to find a way to extend the Connector value beyond 1st degree connections, maybe to the 4th degree.  This is the true value of a community network, and something we are building towards as a DAO (see more on the Decentralized Autonomous Organization concept here).

As you read these terms please note:

  • You do not have to be working projects through LifeSciHub, or change your current practice or business in any way, in order to benefit from being a LifeSciHub Connector.  You simply need to be a LifeSciHub Member, defined below, which is free.

Questions and comments welcome, scroll down for a place to post any and all, and, as always, please feel free to reach out to LifeSciHub directly at info@LifeSciHub.com.

[The following is an excerpt from LifeSciHub’s 2022 Expert Provider Agreement]

Exhibit E:  EP 1st Degree Connector Model- 2022

For the full year of 2022, ending December 31, 2022, and in conjunction with being a Member of LifeSciHub, defined below, LifeSciHub enables Members to monetize their network assets by acting as “Connectors”.

  • A Connector is responsible for Hiring Entity projects being posted to the Platform, or for first introductions to EPs that are selected for posted projects. 
  • The Connector project and/or selected EP will be processed in full by LSH, including all business administration including contracts, timekeeping, invoicing and payment processing. 
  • Please see Exhibit C for LSH’s standard project fees.  Please note, LifeSciHub’s “List Price” is 30%, however fees are usually negotiated down to 20%. The following Connector Compensation assumes LifeSciHub’s fee ends up as 20%, because as of Jan 1 2022 this has been the case for all projects.  LifeSciHub does not negotiate below 20%. 
  • Connector Compensation:

Total contract value
LifeSciHub Revenue
Connector- Demand
Connector- Supply

LifeSciHub- No Conectors
20%
N/A
N/A

LifeSciHub + Demand Connector
15%
5%
N/A

LifeSciHub + Supply Connector
15%
N/A
5%

LifeSciHub + Both Demand and Supply Connector
10%
5%
5%

  • Unfulfilled projects and EP introductions that do not work on projects through LifeSciHub do not qualify for compensation.
  • Connector fees are reported transparently to all parties, and are auditable by the LifeSciHub general membership upon request.  
  • Connector Qualification: 
    • A project must exist as a posted project on the LSH platform prior to fulfillment.
    • Connector must be a LifeSciHub Member prior to fulfillment.  “Member” Definition:
      • Member must have an approved profile on the LifeSciHub Platform.
      • Member must have a fully ececuted LSH EP Provider Agreement prior to project fulfillment, regardless of whether or not that Member is actually working their own projects through the LifeSciHub Platform.
  • Compensation is distributed to all parties- EP, Connector/s and LSH simultaneously,  according to HE payment terms, as dictated by HE Services Agreement. 
  • Compensation will continue throughout the life of the project and stop: upon project completion or termination;  LSH EP Agreement termination.
  • There is no limit to the number of Connectors a Member can have on either the Supply or Demand side. 
  • Connector terms are valid for 2022 and will be refined in 2023 and onwards for the intent of enabling 2nd, 3rd and possibly 4th degree “Connections”.  As the 20% fee will remain fixed, the goal is to enable compensation beyond the 1st degree Connectors.  In this model, the Connector Fees will be less than 5%, but the goal is to enable each Member to have multiple Connectors, both on demand and supply side, which, at scale, will provide mutliple streams of passive revenue, all supported administratively via the LifeSciHub platform. 
    • As of 2022 no Connector fees beyond the 1st degree have been developed.
    • Any Connectors established in 2022 will remain bound by the terms herein, regardless of future changes to the Connector model.

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