For several years, I worked independently and exclusively as a full-time consultant. If you have ever managed a similar business, or know someone who has, you understand the concept of transparency. Everything a consultant does and says is subject to scrutiny, and rightly so. Clients make a considerable investment when they affiliate with a consultant, and especially so when they share or hand over responsibilities to an independent consultant who lacks the backing or established track record of a big-name firm. Business is at stake, and so, too, is reputation.

This isn’t really a story about me, though. This is a story about one of my friends, who is a serial entrepreneur. Her career is one series of high-minded, high-risk ...

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