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Our new Business Consulting approach is about engineering or the business of running and growing a consulting company. Business Consulting strategies do not include what is included in our other podcast channels such as the Strategy Skills podcast, which dives deep into real partnerships and teaches how to structure, break down, and prioritize research.
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We also have an Interviewing & Management Interview podcast that prepares many students as well as professionals for interviewing topics in companies. big ones like McKinsey, Boston Consulting Group, Bain and Deloitte, etc. These podcasts not only teach the skills needed to pass the subject interviews, but also the basic skills to understand the plans. For example, if you need to complete a decision tree on a strategic plan, the tool will teach you how to build decision trees together, how to use judgment, and how to eat accordingly.
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We call these basic skills. We teach these things on the Case Interviews & Management Consulting podcast channel as well as case interviews as part of our engagement programs.
In the Business Consulting podcast, we will not discuss the fundamental skills a.k.a how to join a McKinsey, BCG, or Bain. We’ll leave that for the Case Interview & Management Consulting podcast channel. Here, we will focus on the business of running and growing a consulting company and the problems you will face.
Y, etc., is a difficult task. We also have video clips from the Business Consulting channel posted on our YouTube channel.
I would like to point out that this program will not focus exclusively on marketing strategies, or on strategic management in large companies. This program is aimed at any type of consulting whether it is operations, technology, digital, performance, organization, personnel, and even other types of consulting that may not fit in the traditional consulting management. If you are consulting, whether it is a food consulting business or any other business, all our training will be used because the principles are the same.
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But, of course, I will use examples from traditional advertising because that’s where I grew up as a Partner in one of the big companies and later managed a very large department store. So I’m going to write them all together as a starting point.
As a start, I would like to spend some time here to show what an amazing thing you are doing by launching your own consulting company or running an office or a company model. Let’s say you’re running a KPMG office in a small location or a small country, just like you’re running your own company. because you are away from the traditional support structures of those companies. The same goes for McKinsey, BCG, Bain, and Deloitte, among others.
So, whether you are working for one of these big companies in a small office or launching your own business consulting business or launching your own business consulting business, it is important to stop for a moment, go to your refrigerator, take out something nice. bottle of wine, maybe a nice red. Pop and open and drink and celebrate the fact that you are doing something that is very difficult to do.
And, most of the time when you read about support for consulting companies, people don’t take the time to show how difficult and great it is to get started on this journey. Now, yes, if you drive, I don’t recommend you to have a red or white glass and maybe leave it when you park your car in the garage, get out and there is nothing nearby in a wheel. But the point here is that what you are doing is interesting.
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I’ve been talking all my life. I was a partner in one of the big international companies, then a retail company which I led in a change. And I have advised many consulting firms of all kinds since I left. It’s a unique business you’re in. You don’t have enough support.
It is not a legal business, so many people are doing it. But it’s almost like you’re alone 99% of the time, even though you know other people are doing it. Even if you get together and talk to them about the challenges you are facing, it is a lonely journey.
What I am hoping for through this new program, although I may not be able to remove all the loneliness that you will face, and I wish I could do that. But I want you to know that there is something you can go to that has a dedicated support in the business or launch and growth of a business consulting business or any consulting company.
So, there is the technical support needed for the launch and growth of a management consultancy or any other consulting business. And while I’m talking about celebrating and not giving up on things, it’s important to remember this quote from Theodore Roosevelt. A great quote. You can read about it below.
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But what I want to say here is that any time you launch a consulting business, it’s a scary prospect. You will go to someone, and usually someone you don’t know, because it is unlikely that your network will be very wide as a network and you will know first hand all the people you will serve.
So, you will often go to someone you don’t know, and you will ask them to give you money so that you can recommend them. You are like a doctor, a consultant to entrepreneurs. And for better or worse, it’s a business to look down upon.
A business consultant is looked down upon, unless you work for one of the big international companies. If you are a consultant alone or part of a small group, you will appear as if you are trying to break into something respectable before you make that change.
If you try to explain to people that you are a consultant, they will think that you may not have been successful in business, which is why you consult. They feel that you are trading some old knowledge for bills.
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The bottom line is you won’t get the support you want. In fact, you have been criticized. People treat you like you’ve never done it, that’s why you negotiate.
When I was a Partner of a large company, I went to places where you meet with store advisors and some of them were very confident. But there are others who are almost ashamed to say that they are a counselor. They almost always fail.
So, what I want you to do is to not worry about what people say about you. The line Dr. Seuss goes somewhere along the lines of “Those who think don’t matter, and those who matter don’t matter”.
I don’t want you to worry about why you are negotiating or what people think about you or how your friends will react to it. You are doing something very important. You’re helping businesses be better. You are helping them be better, more successful. As they earn more, they pay more taxes. The taxes you put back into the economy benefit everyone.
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So, it is an important role. It’s a difficult role. I won’t take that away from you. And I know that many of you who are listening to this have been in difficult times where you had to cut back on spending. You might not take your family on a vacation. You may not buy clothes for a few years because being a management consultant especially a freelancer, even in a small company, is tough.
When I was a partner I helped some agencies turn themselves around. I have helped start new offices in the company. That’s hard to do. Even if you have the backing of a multi-billion-dollar international consulting firm behind you. I can imagine how difficult it would be if you were alone with one or two or three people.
So, while you are doing this process and you will be criticized and people will say, “why do you work for this small company” or “you are not like McKinsey or you are not like Deloitte,” or “you are not like Accenture”. Whatever criticism you get, remember that you’re doing it and that’s what matters. So, expect criticism but don’t accept it
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