Strategic business consulting has been around for a long time, in one form or another. Businesses and individuals will always need to employ the short-term services of experts and professionals to solve one time problems and situations for them.
However, with the growth of the industry, there has been significant changes to the way in which consultancies operate, what is required of them, and many other factors.
Here are a few recent trends in the consulting industry to consider when planning on starting a consultancy:
- Because of a growing trend by baby boomers towards early retirement, and the associated shift be these individuals into consulting, there is some very stiff, experienced and often well connected competition out there!
- Companies are becoming more competitive, while at the same time, demanding better, more efficient organizations, which deliver excellent results, with the minimum cost. This has opened up many opportunities within business consulting for process analysts and other consultants.
- By the same token, consumers have become more discerning and demanding of the products and services, they are willing to part with their hard-earned cash for. Marketing and customer relations consultants are therefore also in great demand.
- It is becoming more and more popular within organizations to outsource to consultants, as they are seen as objective, unbiased third parties, which of course, they are.
- As legislation regarding every aspect of business in the global market place becomes more and more prevalent, more opportunities are opening up for experts in many fields to provide consulting services in these areas.
- Likewise, relatively new consulting fields, for example, internet marketing, have opened up as possibilities in recent years, with many companies lacking the in house ability to successfully tackle these tasks.
- Outsourcing is being recognized as a viable cost saving mechanisms by large and small organizations, in everything from legal and accounting services, to marketing, payroll, human resources and IT. This shift means many more consulting possibilities out there.
- Global Consulting – the internet is also making it possible for consultants to operate globally in some fields. Whereas before, it would have been necessary to meet potential clients face to face, it’s now possible to contact, and work for, clients anywhere on the planet, with little inconvenience to either party!
- Aside from the trend towards outsourcing as a cost saving mechanism, and knee jerk reaction to economic woes, it has also created a sense of desperation in many organizations. These companies have realized that with tough times, being good is not good enough. You need to be the best. And often, consultants can help them to do that.
All in all, there seems to be no stopping the growth of consultancy. It is growing where many other industries are faltering.
But this can be a double-edged sword. The more growth the industry experiences, the more consultancies will appear and the tougher competition will become.
If you feel up to the challenge and your looking for an exciting challenge then the consulting profession might be just for you!