Do you want to know if consulting can make you rich? It's a valid question, and the answer is yes, it can. But it's not as simple as it sounds. To become a successful consultant, you need to have the right skills and experience, and you must be able to provide valuable advice to your clients. At McKinsey, BCG or Bain, a candidate must have a GPA of at least 3.6 to ensure any doubts about academic achievement.
You don't need a degree to become a consultant; and you don't need to be a lead expert to launch your services. That's why you often hear people offering their services to coaches and consultants as if they were the same thing. The irony, however, is that the definition of management consulting is vague in and of itself because the concept is very broad. Others prefer to pay per project, considering it, perhaps, as a way to prevent consultants from filling in their hours.
The wide range of work involved in management consulting means finding creative solutions on a case-by-case basis customized for each client, so that you will end up with a very wide range of day-to-day tasks. According to Working Mother magazine, 37 percent of consulting giant Accenture's 30,000 employees are women. Even if they are marketing or sales consultants, they focus on meeting their customers, not for themselves. As a consultant, you can leverage your skills and experience in a wide range of fields to provide guidance to companies in need. But is the profession right for you? Here are five things you probably didn't know about management consulting to help you make a decision:
- You don't need a degree to become a consultant.
- You don't need to be an expert in order to launch your services.
- Consultants who rely on technology to keep in touch will be at a disadvantage compared to those who keep in touch in person.
- It is possible to make high daily rates as a consultant.
- Consulting business owners must focus on the four fundamental pillars of success.
It doesn't mean it's not possible for consulting business owners to make high daily rates yet. It's one of the things that Elodie Garson-Besançon, Ernst and Young's management consultant based in Europe, loves about her high exposure to high-level people in the field. In my coaching course, I focus on helping consulting business owners build successful businesses by focusing on the four fundamental pillars: strategy, operations, marketing and finance. So yes, consulting can make you rich - but it takes hard work and dedication. You need to have the right skills and experience and be able to provide valuable advice to your clients.
With the right approach and dedication, you can build a successful consulting business that will bring you financial success.