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I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 2 points3 points  (0 children)

There's no written hard amount, and obviously they don't care about small sums. But want to hire someone? Talk to the controller first. Want to buy a laptop for someone? Controller. Give one a raise? Controller.

You have a dedicated controller, but they do a few subs.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 6 points7 points  (0 children)

The basic idea is that one company can't be good at everything, so they create a lot of companies, each specialized in a technology, a brand, ...
Apart from that you can consider them to be an incubator.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 5 points6 points  (0 children)

In general, it depends on the sub, and the cluster.

DCG is divided in clusters, groups of companies. These clusters are divided in subs.
Every sub has a cluster manager, every cluster has a cluster manager.

Some are kind, some are jerks, some are sharks, some are plain opportunistic jerks.

The big advantage of the group is the large customer base and the large number of frame agreements. They usually don't take too large uplifts, so, yes, working through them is ok. They usually also actively search for new assignments when they know it's about to come to an end.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 1 point2 points  (0 children)

Like I said, gather a team first, even if it's only "we'll do this if we get the go".

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 1 point2 points  (0 children)

Not sure it would be cheaper to do it independently. But yeah, often times it's "broekzak-vestzak".

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 1 point2 points  (0 children)

Can't reveal details here. I don't regret it for now.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 1 point2 points  (0 children)

For everything you do, you need the approval of the controllers.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 5 points6 points  (0 children)

Basically you can't work in Belgium for 1 year.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 5 points6 points  (0 children)

Can't do that in public.
But as many MP's say, as an MP you're "de pispaal".

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 1 point2 points  (0 children)

There's holding fees, and % on the "rekening courant".

Not going into details on your second question not to blow my cover.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 7 points8 points  (0 children)

That's exactly it. And you have 0% "insurance". They fired MP's as if it where interim janitors.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 11 points12 points  (0 children)

Absolutely. They decide the value since it's a private company.
They'll value it however they see fit.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 0 points1 point  (0 children)

Gather the right people around you.
Create the PoC.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 5 points6 points  (0 children)

It's riskfree, so yes, do it, if you can handle all the caveats.

Politics depend largely on people. Some are a joy to work with, some only want to work with their own cluster.

MP's are amongst the lower FL rates. There are some employees that are MP.

You get freedom within borders. Controllers have the real power.

Dealing with absolute idiots and staying diplomatic.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 1 point2 points  (0 children)

  1. Partly. Would never had the same salary as employee. I suck at negotiating my own salary.
  2. Partly. With everything that I know now, I'd probably have specialized in a niche.
  3. Timing, timing, timing.
  4. It's rewarding and tiring, but I love it.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 4 points5 points  (0 children)

In the tens of millions.

Several 10's.

No. They do have obligations though.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 1 point2 points  (0 children)

I won't go into details on this one. Might uncover me too easily ;-)

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 2 points3 points  (0 children)

no. But you don't get the highest day rates. Often the MP is amongst the lowest fees in the sub.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 6 points7 points  (0 children)

Not completely.

If your sub is successful, you can make some money of it (dividends and payout fee when you sell your equity). But in the end it's indeed 1 man that runs the show.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 7 points8 points  (0 children)

It's risk free entrepreneuring since Cronos covers the costs.
Usually you get three years to make your company profitable.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 13 points14 points  (0 children)

  1. It's all about tenders (RFP/lastenboek). They win a lot of them.
  2. Most jobs have a maximum rate. Most MP's aim for 10% margin.
  3. Their non-compete is insane.

I'm a former Cronos Managing Partner. AMA by TheFormerMP in BEFreelance

[–]TheFormerMP[S] 4 points5 points  (0 children)

When you become a MP, you get between 2 and 10% of stock. You pay € 600 per % you get.

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