If you’re thinking about a career in consulting, there are a few things you need to know, says Shamayun Miah. Consulting is a great career choice. It’s where you can combine real analytical horsepower with real business challenges and go home every day knowing you have made a positive impact on your client. Shamayun is a consulting leader in the technology industry and has extensive knowledge of AI, Cloud, Automation and Digital business models.
First, Shamayun explains that you need to know what the different types of consulting are. Management consulting is one type of consulting. It’s where you work with clients to help them improve their business performance. There are many other types of consulting, including IT consulting, engineering consulting, strategy consulting and marketing consulting.
Second, you need to know how the industry works, explains Shamayun. The consulting business model is based on knowledge, relationships, and trust. In some cases, for independent freelance consultants, there are no financial intermediaries involved in a purchase relationship with your client. You don’t get fully paid until you have successfully delivered the solutions that improves the performance for your clients, he adds. In many cases your client will hold back a significant part of your fees.
Third, Shamayun says that you need to know what the different firms offer. The biggest consulting firms all have their own strengths and weaknesses. Some focus on strategy, while others focus on operations or technology. Some are strong in the public sector, while others are strong in the private sector. You need to find a firm that matches your interests and skills, he notes.
But first things first, what is management consulting?
Management consultants are professionals who work with companies to help them solve problems, improve processes, and make better decisions, explains Shamayun. Consultants typically work in teams and are brought in to tackle specific challenges or problems that the client organization is facing.
He adds that management consulting is a great career choice for people with strong analytical skills and an interest in business. If you want to work in management consulting, you’ll need to have a good understanding of business concepts and be able to analyze data and solve problems. You’ll also need to be able to communicate effectively with clients, have high EQ and work well in a team environment.
There are a number of different consulting firms out there, each with its own culture and focus. It’s important to do your research and find a firm that matches your interests and skills.
Shamayun Miah also sheds light on the objective of a management consultant.
He says that the objective of a management consultant is to solve problems for their client. A key part of being a consultant then is knowing how to find problems, understand the root causes of those problems and develop effective solutions. This often involves analyzing data, developing models, and recommending changes to business processes, technology or strategies, he adds.
Shamayun states that a management consultant also needs to be able to effectively communicate their findings to clients and work with them to implement changes. They need to be able to think on their feet, work under pressure and be able to manage multiple projects simultaneously.
Becoming a Management Consultant: Your Next Steps, According to Shamayun Miah
You’ve always been skilled at solving problems in your own job, and you’re good at leading teams in your company. But do you have what it takes to make a career change? The following steps will help keep you on the right path:
- Find out if management consulting is really for you. You’ve always been interested in business, but perhaps there’s another field that’s a better fit for you. Management consulting is a challenging and fast-paced field, so it’s important to make sure it’s the right choice for you.
- Research the different types of management consulting firms. There are many different types of management consultants, from the big four (Deloitte, Ernst & Young, KPMG and PricewaterhouseCoopers) to boutique firms. Make sure you understand the different types of firms and their specialties so you can find one that’s a good fit for you.
- Identify your skills and strengths. Management consulting is a highly specialized field, so it’s important to know what you’re good at and your industry knowledge. What are your strengths and weaknesses? What are your skills? Once you know what you have to offer, you can start looking for firms that need those specific skills or even approach clients directly.
- Network with other consultants. The best way to find out about the industry and make connections is to network with other consultants. Attending industry events, meeting with alumni and subscribing to management consulting newsletters are all great ways to get started.
- Get a business degree. While it’s not necessary to have a business degree to become a management consultant, it will give you the skills you need to be successful. There are many different business programs available, so find one that fits your interests and career goals. Your next employer may even sponsor your degree.
- Get the right experience. Becoming a management consultant requires both business skills and soft skills. Make sure you have enough hard skills for consulting (business, accounting, financial analysis) but also make connections in your industry to gain relevant soft skills.
- Start building a network of contacts inside and outside your firm. It’s important to start building a network of contacts early in your career. This will help you when you’re ready to make the switch to management consulting.
- Be prepared to put in the hard work. Becoming a management consultant is not an easy process. It takes time, dedication, and a lot of hard work. But if you’re willing to put in the effort, you’ll be well on your way to a lucrative and fulfilling career.
- Stay up to date on the latest industry news. Keeping up with the latest news and trends in management consulting is important if you want to stay ahead of the competition. Subscribe to industry newsletters, read blogs, Slideshare and follow consultants on social media.
- Keep learning. The management consulting industry is constantly evolving, so it’s important to keep learning and expanding your knowledge. There are many resources available online to help you stay current on the latest industry trends and news.
The management consulting industry is exciting, challenging and rewarding. If you’re interested in joining the field, make sure you know what it takes to succeed. Once you understand the process of becoming a consultant, it will be easier to find a firm that fits your skills and personality. Stay dedicated, put in the hard work and you’ll be on your way to a successful career in management consulting, Shamayun Miah concludes.