In this case, a company may have the expertise to create a solution, but could be lacking the man-power to finish the work within a required timeframe. For example, consultants might be brought in on a short-term basis, to help Wells Fargo US Bank create a new internal software programme in 6 months instead of 12 months.
A company may also hire consultants, in order to bring-in an objective 3rd-party opinion. This can be useful for leadership, when making an important decision for the firm's strategy or operations. Every company, whether it's obvious or not, has an underlying culture that affects the way the people within make decisions. This can be a positive thing that unifies employees and executives. However, it can also create blind-spots. For example, there may be inefficient processes that are still used, because "that's the way we've always done it".
There could even be blind spots in thinking, where opportunities and problems are not even noticed. In this type of situation, bringing in an outside opinion can provide valuable perspective on the business, and empower leadership to make better decisions. To help you get a better understanding of what the daily work of a consultant looks like, we've broken down 9 things that are common for strategy consulting projects.
If you'd like to get an idea of the different types of jobs available at MBB firms, check-out our article on McKinsey Careers. Overview: Before a consulting project can happen, there has to be a client.
For consulting partners and principles, a big part of their job is building relationships with clients or prospective clients and selling new work. Example: You manage a portfolio of projects focused on grocery retailers in the Northwest US. Armed with new research showing a trend towards home delivery, you meet with an existing client e. During the conversation, you present the data, and discuss the potential of helping them develop a new strategy for a customised home grocery delivery service.
Overview: Once you have a client, and they're onboard with a specific piece of work, then it's time to create clarity. This is often documented in an SOW Statement of Work , which acts as a detailed summary of the project to be delivered.
At this stage, budgets, payment plans, and contracts would also come into play. Most consultants are not lawyers, so the legal departments of the consultancy and client would help complete the technicalities of this process. Example: You work with the appropriate decision-makers at Walmart, and agree to an initial 3-month analysis. You agree to form a team of 6 consultants, who are experts in grocery retail and logistics, and who will work on the Walmart project.
The defined outcomes of this project, include an analysis of customer demographics, and recommendations on whether Walmart should begin testing a home delivery service. The details are defined in an SOW, and the contract is signed. Overview: Now that the project is sold, and a contract is signed, it's time for the work to begin. In order to deliver the agreed upon services, the consulting firm would internally recruit a team of consultants, with experience and skills aligned with the project.
Example: For the Walmart project, the SOW calls for a manager, two senior consultants, one junior consultant, and two business analysts. The principle for the project would use their internal network and staffing tools, in order to assemble a team of consultants for each role.
This would likely include review of internal resumes, and informal interviews. The manager of the team would typically be experienced in grocery retail. But the junior members of the team might not be, and will learn the industry specific details they need during the project. Overview: Once the team is assembled, the manager will be responsible for leading the project plan. This includes monitoring milestones, providing updates to the client, and providing support when the team encounters roadblocks or issues.
There's also a relationship element to this, and it's important for the consulting manager to continuously communicate and set expectations with the client. Example: The consulting manager holds a weekly status meeting with a small group of decision makers from Walmart.
The principle for the project may also join that meeting. In this meeting, the consulting manager provides updates on the project milestones, and highlights anything that is behind or ahead of schedule. The manager gathers feedback from the client and makes adjustments to the analysis or project plan if necessary. Consultant Level: Senior consultants, junior consultants, and business analysts.
Overview: This step could involve a wide variety of tasks. Generally speaking, the consultants will be gathering input and data from the client, and maybe also external sources like market data. Before the consultants can provide recommendations, or develop new strategies, they need to gather information. Example: At Walmart, the objective is to evaluate the potential of a future home delivery grocery service. The consultants already know that there is a market trend towards home delivery groceries.
However, that doesn't necessarily mean it will work for Walmart. In order to make informed recommendations, they will gather information on Walmart's customer demographics, and existing business operations, to understand if they are aligned with the home delivery trend. What is a consultant job, exactly? What does it mean to be a consultant, and where do they work?
Check out this comprehensive guide to learn more. The guide below will help you understand what consultants actually do, and whether the profession could be of interest to you. FlexJobs is a subscription service for job seekers that features flexible and remote jobs.
Consultants can perform a range of duties that may vary considerably depending on the industry. In a nutshell, consultants provide expert opinions, analysis, and recommendations to organizations or individuals, based on their own expertise.
Consulting jobs often offer employers the opportunity to supplement their existing team members with an outside perspective. Consultants can help organizations streamline operations, increase productivity, build revenue, and make overall functions more efficient across the organization. A primary reason companies hire consultants is that they may possess in-depth knowledge of a specific industry or issue that the organization has in-house.
Consultants can also help bring new life to organizations that are stuck, or shift resources to help companies grow or move in a different direction. Given their broad role in identifying issues and streamlining work processes, virtually all industries hire consultants. Consultants who make assessments for their clients often train and teach employees based on their recommendations for how the organization needs to change. Business consultants help solve problems and offer companies unbiased advice and expertise.
Business consultants may help improve processes and performance, assist with HR strategy, help with operations support, and more. Common industries that hire business consultants include finance and accounting, advertising, human resources, education, nonprofit and human services, healthcare and pharmaceuticals, information technology, and others.
Education consultants work in the education industry to consult on a variety of topics in early childhood, primary, secondary, and higher education, or they can work in a wide range of industries to help organizations with education objectives.
Common industries that hire for education consulting jobs include publishing, education, government, sales, healthcare, nonprofit and human services, software and technology, and others. Healthcare consults work to improve the efficiencies of a medical or healthcare-related organization.
Reducing costs, increasing revenue, and recommending new procedures are some of the tasks required of a healthcare consultant.
Risk management, nonprofit and human services, health insurance, medical facilities, pharmaceuticals, and wellness and fitness are some common industries that hire for this type of role. An IT consultant provides technical guidance to clients by finding and analyzing security threats, analyzing code, improving the efficiency of systems, and generally helping a business best use IT to meet its goals.
Having an expertise in software, hardware, programming, and other related technology areas can qualify you for an IT consultant job. Common industries hiring include construction and HVAC, healthcare, manufacturing, sales, pharmaceuticals, financial services, and more. While sometimes used interchangeably with business consulting, management consulting involves training, coaching and strategy-setting at the corporate level, rather than business processes and financial outcomes.
Often, consultants are self-employed contract professionals who provide services to a range of industries or organizations as needed. Many of the most prestigious consulting firms also offer flexible jobs.
A few of the larger consulting firms are:. There are also lots of smaller firms that hire consultants with specialties like operations, finance, IT, business strategy, social media, and sales and marketing. Consulting can be a rewarding career that allows professionals to solely focus on their areas of expertise.
They can also have a direct impact on the bottom line. Below are some steps to work out before becoming a consultant. And having at least a few years of experience will be necessary to show that you are an expert and can provide something of value to your client.
Companies fill consulting jobs the same way they hire regular employees—by placing a job ad. Common consulting job titles include, but are not limited to, the following:. Make sure your LinkedIn profile is up to date and reflects your new career as a consultant. Get in touch with people in your network who might be able to point you in the right direction. Furthermore, if you have a portfolio or a personal website that highlights your achievements, send applicable projects and outcomes.
Sharpen your sales pitch and be ready to discuss how you can improve the business. Be ready to talk numbers. Work in the field of consulting could make for a rewarding career for you, and we can help you get there. We post flexible and remote consulting jobs regularly. Take the tour and learn more about the benefits of a FlexJobs membership. We'd love to hear your thoughts and questions. Please leave a comment below! All fields are required. Solid article! Post includes some valid points to be concentrated for getting selected for the job.
I have been following your blogs from past few months and i am glad to say that, all of your posts are always meaningful. Thank you for sharing this informative stuff. I want to become more sociallable in todays market. I do have a Degree at B. I just wanted to find how I could become a people person and succeed in life. I am an old and tired convict who as done a lot of time. I want out of my old life. All this analysis helps to develop your final recommendations. Note, these tasks will vary according to the type of consulting.
Instead, you may be expected to run more qualitative interviews and surveys. Most consultants speak in powerpoint. You will be a powerpoint master in no time! This is the primary means of communicating findings and recommendations with the client. This is a highly valuable skill. For example, your client may be the general manager at a large commercial bank, reporting to the CEO on the implementation of their corporate strategy.
You may also be expected to train an assigned client team member to use and understand the model. This is a typical part of the overall consulting project process. This time often allows some respite from the demands of servicing clients but in some cases, maybe just as busy. You may be expected to help with business development, recruitment or knowledge building exercises.
As you develop and move up the consulting hierarchy, more of your time will be dedicated to bringing in new clients or selling projects to existing ones.
As a more junior consultant, you may be expected to help out by doing some research, crunching numbers or developing pitching materials. Consultancies are always on the lookout for excellent talent, particularly at the graduate level good news for you! Consultancies are hired on the basis of their ability to problem solve and think critically.
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