Wondering if a consultancy business is the right choice for you? With all the tales of the consultancy life that you have heard that sounded too crazy to be true, this is to let you know that you have been misled. If you feel that consultants are treated with luxury all the time and are sent on trips around the world, then you need to reduce watching HBO’s House of Lies. Yes, there are some great things about this career but it is not what you are thinking about.
In short, there are some myths that have a little truth in them while the others are basically plain friction. Well, this article would set all the expectations that you have straight and you would be able to see reality much clearly. It is important before you enter into the world of being a consultant.
Who is a Consultant?
Let us begin with who a consultant is. Well, a consultant is someone that has all the knowledge in a specific field. This person works with a company or an individual and guides people to make the right decision about the subject in question. Thanks to the technological advancements in the world today, it has become very easy for a person to become a consultant.
And even though the job of the consultant is to offer people the right consultation using their knowledge, a great consultant is someone who has expert and deep knowledge regarding the subject in question. In short, if a person wants to become a consultant, they would have to select their own field of interest and expertise.
Why is a Consultant Hired by an Organization?
But if you are wondering why the consultant is needed in an organization when there are professionals offering the services already, then well there are many reasons that would explain to you why the organization hires the consultants. A consultant is hired:
- Because of their expertise in a specific subject that can be used to help others make clear decisions about the related subject.
- Sometimes as a supplement staff instead of full-time employees since they seem to be economical as they are not offered benefits like normal employees.
- Usually to identify issues or problems that are there within the company.
- To work as a catalyst. The modifications can be taken in without the need to worry about the corporate culture, employee morale or any other such issue.
- At times to teach or educate the employees.
- At times to bring a new life into the business that has been running slow by giving new ideas and having them implemented.
- For influencing people around them. These consultants usually move around with influential and rich people.
- For the creation of new business opportunities by coming up with new ideas while they build a perfect game plan.
Myths about consulting business
Now that you know why a consultant is hired, there are many myths that are not true. The main ones have been explained below:
#1 The CEO’s Best Friend
A lot of people think that the consultants in a management work with the board of members and are the buddies of the major companies’ CEOs. And by this, they feel that the consultants get a lot of money flowing into their banks and a huge network of rich and important people.
This idea might be true for a few projects or if the consultant has been working in the organization since ages, this is not true for everyone. Yes, you can be working with managers and VPs but they are not always the rich and powerful ones. And if they are not executives or rich, that does not mean you are in the wrong place. These people can become executives in the future which can help you then.
#2 Luxurious Living
When a person talks about the life of a consultant, they picture a person who eats in 5-star restaurants, travels in first class and has a glamorous lifestyle which is all from the company’s expense. Even though this is slightly true where you get frequent flyer miles or so and have one or two fancy dinner occasions, it is not something that happens every day.
So, if you are imagining that you would be always sitting in New York, then you are in for a surprise as you would most likely be sitting in a 2-star hotel of a small town you never heard of with no fancy restaurants near you. So, it is a luxurious living for all the consultants.
#3 Crazy Working Hours
Many feel that the consultants work crazy hours where they can even see two sunrises before they can sleep. Again, this is not entirely true. There are projects where you would have to spend many hours on it, but you would obviously have time to sleep even if it is late at night even for the most intense projects. Moreover, the projects were you might have to work overnight are usually short-term ones. So, it is not such a negative job where you cannot sleep.
#4 The Fittest Survives
Another myth that people cling on to is that the consultancy business environment is highly competitive where you either get promoted or you leave the organization. You would be surrounded by ambitious people, but companies do not throw out good people. For the people who offer high-quality work, they are put in a team. And you can work with a team, right?
Other than this, there is nothing that says you lose if you are one step behind the top employee. But if you are of no good to the company that has given you repeated chances to prove yourself, then you probably would be asked to leave.
Things to Consider Before Starting a Consulting Business
With all the myths cleared, you might want to move ahead to begin your consultancy business. But before you do that, here are some questions that you should ask yourself to walk on the right path:
#1 Do you have the Qualification for the job? — The first thing you need to do is ensure that you have the right qualifications for the job, even if you are just going to be a computer consultant.
#2 Do you have the certificates or license needed? — Many states or countries have some certifications for working as a consultant. Do you have it? For instance, for being a fundraising consultant you have to register and get a certificate from the National Society of Fundraising Executives.
#3 Are you a networking person? — Networking is crucial for this job and you need to be someone who can do it right.
If you have the right answers, then you can move ahead and open your consultancy business. Just to help you, here are some of the present consulting businesses:
- Writing services
- Publishing
- Taxes
- Payroll management
- Public relations
- Marketing
- Insurance
- Human resources
- Computer programming
- Gardening
- Executive search
- Communications
- Editorial services
- Business writing
- Career counseling
- Business
- Advertising
- Accounting
- Auditing
So, when are you starting your consultancy business?
If you still feel this is the gig for you, then you should definitely begin to work on it and start your business out of it.
