Consider consulting, either part- or full-time, as a way to make extra money or launch a new career. Scientific consultants play a key role in transferring science and technology into the commercial domain. For full-time academic researchers, consulting can be an enjoyable and highly profitable way to translate your work into social benefit. For those who leave the bench, consulting enables you to combine your scientific knowledge and thinking with an entrepreneurial lifestyle.

What is a scientific consultant? Carl Sindermann and Thomas Sawyer, who wrote one of the best books on scientific consulting (The Scientist as Consultant: Building New Career Opportunities), define the role as "a technically trained entrepreneur who makes available for a stated price his expertise, data, analyses, evaluations, and recommendations relevant to client needs" [1]. Practicing scientists who are part-time consultants often have distinguished themselves through their publishing and presentations. Although the best paid part-time consultants may hold prestigious professorships, a less powerful researcher (who may be a lab chief) could consult if he has established a reputation in an area of great commercial potential.

A company would pay the prominent researcher on a nonexclusive basis to help shape the direction of policy in, for example, a major pharmaceutical company. She may be asked about the potential commercial importance of general areas of research. In return, she would likely be paid an annual retainer and a per diem fee. For the midlevel researcher with distinction in a niche, he may receive a retainer and daily fee to consult on an exclusive basis about specific projects. One such consultant suggested an annual retainer of about $10,000-15,000, plus a per diem fee of $1,000-2,000 for such services.

Researchers who consult part-time usually get involved after being approached by representatives from industry. A pharmaceutical scientist who has seen a presentation in the area of his commercial interest might introduce himself to an academic researcher after hearing his paper, possibly inviting the presenter to give a talk at the pharmaceutical company. If the talk goes well and the pharmaceutical company wants to proceed, it would approach the scientist with an offer. In other cases, industrial scientists or scientist-managers might spot potential consultants by reading research papers, and then contacting the researcher. In any case, it is unlikely that an academic researcher would successfully contact a pharmaceutical company directly.

Full-time consulting, in contrast to part-time, requires a major career transition: the scientist must decide to leave the bench, possibly permanently. Sindermann and Sawyer surveyed full-time scientific consultants to assess their motivations and how they transitioned from research [2]. The main reasons, as expected, included personal freedom, opportunities to use talents and knowledge in new ways, and financial success. For many who were surveyed, the combination of personal freedom and creativity added up to job satisfaction they could not find elsewhere. My own experience as a biotechnology consultant for 19 years confirms these surveys. My capacity to take on a wide variety of interesting projects, and the ability to choose my work conditions, compensate for the absence of the stability that a full-time position would offer.

Sindermann and Sawyer found that people often venture into full-time consulting after major positive or negative changes in their academic or industrial careers. However, the move often comes after enjoying the benefits of part-time consulting. It may also occur after a client approaches you with a large contract while you struggle with a dissatisfying job. Once you jump ship, having a few steady clients on contract will greatly reduce the anxiety of full-time consulting. With enough reliable consulting work to pay the bills, you have the freedom to pursue the types of projects you most enjoy.

Full-time scientific consulting is a business, not a scientific enterprise. It is a high risk, high reward field, where one has to have or develop the capacity to run many business functions. If you try it on a part-time basis for a year as a moonlighter, you would discover whether you have the proper skills and interests to succeed. Your duties will vary, depending upon whether you are a solo practitioner, develop and manage an office with junior consultants, or join a large scientific consulting firm.

However, you will have to understand marketing, and you must to market your work in all of these cases. You will probably manage people, prepare budgets, and develop projects. Unlike working as a bench scientist, you must develop excellent interpersonal skills, especially presentation skills. Being a good communicator is at least as valuable as being a good scientist. If you need to brush up on these skills, don't despair; many seminars, books, and services are available to help you learn them.

Although you are a businessperson, as a scientific consultant you must still think like a scientist. In other words, you bring objectivity and rigorous analysis to your projects. Sindermann and Sawyer point out five different types of work that call upon your scientific skills: analyzing, interpreting, and making recommendations based on someone else's data; creating and analyzing your own data; a combination of analyzing your own and others' data; double-checking the opinions of other consultants or in-house scientists; and managing large projects where you supervise subcontractors. Unlike other businesses where "the customer is always right," as a scientific consultant you should present your opinion in an unbiased way - even if the client doesn't want to hear the bad news.

My rule of thumb: you should be prepared to tell your clients the truth as you see it, even if they will fire you for it. You can always replace them with a client who values your knowledge and integrity. Don't forget that you can also fire your clients, diplomatically avoiding future business if you disagree with their values or business methods.

Consultants often worry about keeping up with scientific advances, but all scientists worry about this. As a consultant, you have to manage your continuing education carefully, selectively going to conferences and reading certain journals regularly. Some consultants even take sabbaticals or teach classes in an attempt to keep up. Fortunately, you are often hired for your judgment about applications, not simply your technical knowledge; this form of intelligence, which combines scientific and business expertise, only improves as your career advances.

One client told me that he never wants to educate consultants on his own nickel. In fact, each consulting project increases your knowledge base and your business savvy. Of course, you won't be actually consulting for most of your week. Many consultants are happy to bill 30-50 percent of their working hours. Like lawyers, accountants, and other professionals, full-time consultants spend much of their week on the financial, administrative, and marketing aspects of their businesses. This fact helps account for why consulting fees can be so high.

People who consider full-time, solo consulting wonder what exactly they will do and how they will get enough clients. Good answers to both questions often lie nearby. You probably already know many potential clients if you go to meetings and are aware of companies that profit from your science - as either suppliers of research products or manufacturers of drugs and devices. Although clients will come to you based on your reputation, you should also attract attention by giving conference presentations and publishing articles in scientific and trade journals. You will learn how to structure contracts by working with attorneys. By negotiating with clients, talking to other consultants, and speaking to friends in the industry, you will discover how and what to charge for your services.

New full-time consultants often underestimate the challenges of managing both time and money. Research scientists tend to pay relatively little attention to time management compared to people in business. As a consultant, in contrast, you are constantly pressed to maximize your payment for your time. In addition, you must juggle other time-consuming business tasks that compete for both billable time and attention. Surveys from Sindermann and Sawyer suggest that consultants often break even two to three years after they start their full-time business. However, I have known consultants who could turn profits in their first year by carefully managing their business.

Consulting, either part- or full-time, will stretch your capacities and increase your resourcefulness. In this economy, such resourcefulness is your greatest security.