Frequently Asked Questions

Frequently Asked Questions

Becoming a Prospero Associate

What does a Prospero Associate do?

You work as a freelance Finance Director. You are self employed and work for a variety of small businesses - a portfolio career. The main work is as a part time Finance Director but you will also get involved in projects.

How does this differ from an interim career?

An interim FD works full time in one business for a limited period. As a portfolio FD you seek to build long term relationships with your clients.

What sort of clients will I have?

Many types of business benefit from the part time FD approach. However, the vast majority of clients are owner-managed businesses in the £1m to £20m turnover bracket.

What are the advantages and disadvantages of working in this way?

You will probably find that the combination of:

  • Job satisfaction
  • Work life balance and
  • Financial reward

make it an unbeatable career choice and you'd never go back to conventional employment.

The disadvantages are that there are no guarantees of work or income, and none of the fringe benefits or support structures you get in corporate life.

You have to spend some time working on sales and marketing. If you see that as a disadvantage, then this probably isn't the career for you!

How much money can I make?

Not for discussion on a public website! What we can say is that being self employed has certain tax advantages and that the take home pay compares very favourably to conventional employment. We will talk figures when we meet you.

What benefits do I get from joining Prospero?

When you join us, one of our experienced FDs will be allocated to you as your mentor, trainer and supporter. We have a tried and tested sales and marketing approach in which you will be coached with the objective of getting you busy as soon as possible.

You'll get an area on our website, email facility and business cards.

Our company marketing work generates a steady stream of leads, for which you will be considered, if available.

Once you gain clients, there is a proven system for delivery of a freelance FD service. You will have access to all of our materials and your mentor will be alongside you to help you ensure that your clients are delighted and keep coming back for more.

We keep up to date with legal tax and regulatory changes and ensure that you are briefed on what you need to know.

Prospero Associates meet regularly to exchange experiences and share best practice. While we believe our system is the best in the business, we adopt a continuous improvement approach and always look to learn from each other.

What are the costs of joining Prospero?

There is an up-front fee to cover out of pocket costs. There is then a percentage charge of all your earnings from FD-type work, excluding anything you already do, or which is of a personal nature. This money goes to pay for sales marketing and mentoring.

There are some modest costs of setting up your own limited company and administration. You will need to arrange Professional Indemnity insurance.

Can't I do all of this myself?

You could, and there are many successful independent FDs. Equally, there are many independents who struggle to get business or to retain clients. The small business market place is very different from the corporate world and needs a particular mindset.

The Prospero approach is proven to deliver success in this market.

How do you differ from your competition?

Our training and mentoring approach is unmatched by anything else in the market place. Our commission rates are also competitive. We're quite happy to give you the names of our main competitors because we know you are a professional person and will want to investigate what they offer. We are confident that after talking to them you will come back to us.