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Welcome to another installment in a series about starting and growing a consulting business. This is the fifth episode titled “Starting a Consulting Business with No Experience”.
How To Start My Own Consulting Business
We have two other podcast channels. One of them is the iTunes Strategic Skills channel, which focuses on solving problems through hands-on strategic activities. Another case study is devoted to case studies and management consulting (iTunes Channel Case Studies & Management Consulting).
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Now, many of you may be saying, “Well, I don’t want to be interviewed at McKinsey.” I take it. But we will learn how to create a decision tree, how to create a framework, how to define the objective function, etc. exist to teach basic problem-solving skills such as For most people, we recommend starting there, focusing on the problem-solving mindset and culture of the management consulting firm. Because you need these skills to learn the more complex aspects of what we teach.
Today’s episode will be a little different. I will often focus on running. “How do I start a consulting business without experience? How do I start my own consulting business if I’ve never worked in a consulting company?” So, let’s say you’re starting a consulting business with no experience. Does that mean you’re a failure? The answer is that it doesn’t matter.
The dominant consulting firms in our world are strategy firms, but they are not the only type of consulting. If you think the only way to run a consulting firm is to do it like McKinsey, BCG, Bain, Deloitte or Accenture, you are limiting yourself tremendously because they don’t know everything. If possible, they do a lot of things, and they try to do a lot of things in different ways. They’re not even the best in a lot of areas.
They specialize in management consulting, but you’re starting a consulting business. You can address the management aspect as well as the technical aspect. It can be anything you want. At one point I was running a consulting company with about 150-250 employees, depending on who you talked to, because there were so many entrepreneurs.
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What I mean is that many engineering opportunities are combined with management opportunities. It doesn’t matter if you’re a management or engineering consultant when you’re solving important issues for your clients.
If you’re starting a consulting business with no experience, there really isn’t a barrier. Just follow the advice guidelines. Don’t say to yourself, “well, I’ve never worked at McKinsey, so I can’t”. If you understand the principles of management consulting, never working for a big consulting firm also means that you will not accept their bad behavior. Every company, no matter how good, has a behavior they want to lose. Some of you who respect big consulting firms and law firms might not understand this. But every company can do better. So some of the things they don’t want to do or need to stop doing are their bad habits.
If you’re starting a consulting business with no experience, chances are you don’t have any preconceived ideas from other consulting firms about what’s good and the “right way” to do things. You’re not bound by principles of elitism, that you have to act a certain way because it’s always been done that way, or hang out with people you think are cool. I don’t know who thinks McKinsey and BCG partners are cool, but I’m sure there’s a kid out there who doesn’t want to go to a KPOP concert because he lives to watch McKinsey partners on YouTube and get four thousand views. KPOP views compare to the video’s nearly 900 million views.
What I mean is that there are certain advantages to starting a consulting business with no experience. You no longer work as before. There are downsides, but you have to play the cards you have and focus on what you know, rather than what you don’t know and what you can get into.
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If you can solve customer problems, does it matter if you’ve never worked in a consulting firm?
The consultant solves the problem. If you weren’t working for a consulting firm that you consider elite in your field, but that could solve customer problems, wouldn’t you be able to solve problems and get paid to do the wrong thing ? Despite adding measurable, bankable and verifiable value for the customer? You don’t do that. If we idealize a brand or think it’s so powerful that we never really connect with it, we don’t have to recommend it to anyone, which happens to a lot of us.
Consulting is a very immature field, and strategic consulting is even more immature. By default, this means industry, not people. Management consulting, a very mature sector, has certain characteristics that strategy consulting does not have.
Maybe in another episode I’ll talk about why strategic consulting isn’t a mature field, but for now, I want you to remember that it’s not.
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For FC insiders who want to understand how new concepts develop, how new ideas emerge, and how a dysfunctional group of people can be revitalized, I recommend listening to “Reviving Counseling Practice.” I talked about the transformation of the emerging markets office of a large international consulting firm, where we raised the bar, generated new ideas and became a center for exporting ideas, not just consuming ideas from Western offices.
If you’re not an FC Insider but want to check out our cutting-edge ideas for a limited time, you can join for free by going to /promo. You will receive a series of emails with cutting-edge ideas offered only to insiders.
It is possible to start a consulting business with no experience. Knowing what a consultant does gives you confidence in your abilities 1. Consultants solve problems
Business consultants advising a £5 million catering business on optimizing their business processes will be referred to as management consultants because they advise the business. An engineering consultant who advises one of the largest mining companies in the world on how to increase its revenue may also be called a management consultant.
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The concept is very fluid. It depends on how you position yourself. Nobody said you couldn’t call yourself that. If you believe in adding value to your customers, you can call it what you want.
The first question you should ask yourself is, “Do you know how to solve this class of problem?”
There are shop consultations (i.e. consultations) for every issue. For example, there’s a consulting firm in Los Angeles that helps celebrity managers figure out the best time and place to visit restaurants to avoid paparazzi and celebrity harassment. Therefore, you can give advice on anything and you should focus on this ability. Traditional consulting firms are business oriented, but much broader. Consulting firms have long taught that technicalities, database building, applications, advertising, data segmentation and organizational design are none of their business. But now.
What I mean is that as a management consultant, you can advise on anything when advising the management of this company. If you understand that consultants can solve problems, the next question is: “Do you know how to solve a class of problems?” If your answer is no, that’s okay. Remember, it’s not about finding the answer, it’s about finding ways to find it.
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I don’t know what to do for the many problems I have. But it’s management consulting. I don’t believe the answer because I don’t have one. But I’m sure I can find out. So don’t fall into the trap of thinking you don’t have the answer. You don’t get an answer in advance because you don’t even know what the problem is.
When you know there is a particular problem, you can solve it because you have the ability to think. So starting a consulting business with no experience is not a problem like you
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