Every week, The Veloz Group has at least one speaker come in and talk to the interns. The speakers are usually prominent individuals in the PR industry, but there have been speakers from other industries as well. On the afternoon of June 28th, Eli Eisenberg graced the Veloz Group interns with the knowledge he has gained in his area of expertise.
Eli Eisenberg grew up in Southern California. He began his career in Northern California after his college career ended. Eli completed his undergrad at UCLA and then pursued his Mater’s degree at UC Berkeley. Eisenberg’s original background was in accounting, but that goal changed after he decided not to join his father’s firm, Gold, Eisenberg, and Company.
Eisenberg opted out of working at his father’s firm in order to gain more experience and establish credibility. Eisenberg began working for a Big 8 company in San Francisco. He decided to leave after three years, realizing that he did not like Public Economy.
Eisenberg then began working in Silicon Valley as an Accounting Manager until he became the CFO for a startup company. In November of 1990, Eisenberg decided that “bosses suck,” and that he never wanted to work for another boss again. Eisenberg has been self employed for the past 26 years as a Manager Consultant, focusing on finance. He is now a CEO for hire.
Afternoon Conversation With Eisenberg
It took Eisenberg a while to gain momentum as a self-employed CEO for hire. He gives this piece of advice for those planning on starting their own company, “whatever you do in life, you’re going to learn more from your mistakes than anything else.” Eisenberg stated that his biggest mistake was underpricing his services.
When he first started on his own, Eisenberg was only charging $65 an hour. His father then told him that no one would take him seriously with a rate as low as that. Eisenberg took his father’s advice and nearly doubled his price to $125 an hour. To his surprise, potential clients began seeking out his services, and his business started to pick up.
Eisenberg attributed his newfound success at this time to price inelasticity. The increased prices for his services increased the quality of Eisenberg’s work. Today he charges $295 an hour, and business is better than ever.
According to Eisenberg, lesson number one is never undervalue your services. He is proof that the more you charge, can convince people that you provide quality service, which makes you more attractive.
The second lesson, is never stop networking and/or marketing yourself. In the mid 90s, Eisenberg was so busy that he refrained from networking. Once he had completed his clients’ projects, his business declined until he began networking again. Networking is key.
The third lesson that Eisenberg stressed to the interns, is not to worry about competition. “Focus on yourself and your own value, and competition will take care of itself.” Eisenberg suggested that you should never disregard competition, but if you decide to go into a profession, you have to understand that you can’t serve every company or individual.
“There’s no such thing as a competitor. I just have colleagues who do what I do, but I try to reach out to them as often as I can, and they’ve become my friends and colleagues.” Eisenberg left the interns of The Veloz Group with these three valuable pieces of advice. Who wouldn’t listen to someone who makes $259 an hour?
The Veloz Group interns would like to thank Mr. Eli Eisenberg for taking time out of his busy life to spend the afternoon with us. Thank you for sharing all of your insight.