A Business Consultant is someone who works with business owners to help them reach their business goals and improve their performance and efficiency through careful analysis. They are skilled professionals with a wide range of skills. They leverage a combination of objectivity, education, and experience to provide expert advice, creative solutions, and relevant insights when working with clients. Business Consultants can put their skills to work across a variety of industries, companies, and job functions.
What is a Business Consultant?
A Business Consultant is someone who works with business owners to help them reach their business goals and improve their performance and efficiency through careful analysis. They are skilled professionals with a wide range of skills. They leverage a combination of objectivity, education, and experience to provide expert advice, creative solutions, and relevant insights. Oftentimes, they will choose a specialty to better serve their clients. Some of these specialties include strategy and management, operations, finances, human resources, and marketing. A Business Consultant can help a business identify and address challenges and offer objective recommendations based on their industry knowledge.
The typical workday varies according to the client, the project, and the industry; however, some of the more common duties of Business Consultants include meeting with clients to understand their needs and hardships, performing SWOT analyses, designing business plans that are customized to their clients, advising or managing project implementation, and assess the efficacy of implemented strategies. While many work for consulting firms, you’ll find that a great many experienced Business Consultants are self-employed, and just as many hold specialist roles within larger companies. Business Consultants often work as part of a team that can include a range of individuals based on the project goals. Many times they have to liaise between teams to evaluate and implement solutions.
When working for a firm, there is an opportunity for growth through professional development classes and activities. Workshops, seminars, and courses are ways of continuing education that help Business Consultants stay abreast of current and cutting-edge business strategies, business technologies, and other helpful resources. The more knowledgeable they are, the more effective they are. Continuous learning is essential to progress in this career, as is networking and staying current. Certification opportunities and other helpful resources are available through professional associations like the Institute of Management Consultants USA.
Job Requirements
To be eligible to land a business consulting job, you’ll need to meet certain criteria. Most Business Consultants have a bachelor’s degree in business administration, finance, economics, or a related field, but an MBA is often preferred. Alongside college or university degrees, certifications are also valued. Certified Management Consultant (CMC), Certified Business Consultant (CBC), or similar speak to a Business Consultant’s professionalism, expertise, and ethics.
Beyond education and certifications, you’ll need to have experience using business management software, analytics tools, and methodologies like Agile. Business Consultants have strong problem-solving skills, analytical skills, and communication skills. Ideally, they are strategists, communicators, and leaders who can move within complex business environments to bring about positive changes that ultimately align organizations with their goals.
.png)
Business Classes
- Live & Hands-on
- In NYC or Online
- Learn From Experts
- Free Retake
- Small Class Sizes
- 1-on-1 Bonus Training
Named a Top Bootcamp by Forbes, Fortune & Time Out
Job Responsibilities
The job responsibilities of a Business Consultant can vary according to the scope of a project, but here is a list of typical responsibilities.
- Analyze a business’s operations to pinpoint growth opportunities, strengths, and weaknesses.
- Develop strategies to address a business’s specific needs.
- Collaborate with management teams to implement solutions and track the performance of the implemented solutions.
- Conduct market research, and prepare reports to inform stakeholders and owners of the findings and recommendations.
- Facilitate training of employees and stakeholders regarding newly implemented changes in policies, software, equipment, and procedures.
Skills
Business Consultants use a variety of skills in their position. Some skills can be broadly applied, while others are more specific to an industry or an aspect of business like human resources or marketing. Strong communication skills are a must in this position. Whether managing a team or working 1-on-1 with business owners, Business Consultants need to be able to clearly and accurately relay information, share insights, and liaise between different departments or entities, or individuals involved with a project.
This position also requires a strong business acumen. While this is a skill that some people have innately, it can also be taught. Although much of business acumen is built on financial skills and leadership skills, it also encompasses having a strong understanding of negotiating, strategic decision-making, and an understanding of business models. A large part of business acumen rests on interpersonal skills. This includes relationship building, teamwork, understanding personalities, and empathy.
Problem-solving and critical thinking are key skills for a Business Consultant. Part of being able to create effective solutions will rest on technical skills like data analysis. Analyzing and interpreting data is a critical step in providing business solutions and recommendations that have a big impact on clients, industries, and businesses. Strategic planning and development, quantitative research, supply chain optimization, and project management methodologies are also key skills in a Business Consultant’s toolbox.
Why Do Businesses Need Business Consultants?
Businesses need Business Consultants to provide them with an objective service. This service often includes careful analysis of goals and data, recommendations, and strategy design and implementation. Oftentimes, businesses do not have the manpower or ability to solve some of the deeper problems that are holding them back from achieving their goals. Sometimes businesses need a second opinion on how to tackle a given problem or a specialized skill set. When an organization is attempting to stay out of emotions and politics, a Business Consultant can do the dirty work like handling controversial projects or implementing heavy restructuring that involves terminations.
Where Do Business Consultants Usually Work?
Business Consultants go where they are needed. While many working for consultant firms are assigned clients by the firm, they’re often paired with clients based on their skill set and experience. You’ll also find those in this career path working for themselves, choosing which clients and organizations to work with, and working in a niche. They work with a variety of companies depending on the nature of the consultant firm or niche. Larger firms have access to extensive resources and have an established brand, while smaller firms and self-employed consultants tend to be more accessible to small to medium-sized businesses, affordable, and attentive.
Business Consultant Salary and Job Outlook
Over the next decade, the U.S. Bureau of Labor and Statistics (BLS) predicts that this field will grow faster than average with attractive salaries. As markets become increasingly competitive, businesses have to adapt to operate more effectively and efficiently. This will require the help of well-trained Business Consultants with excellent creative problem-solving skills.
Stronger growth is more likely to be seen in smaller consulting companies with a niche. Specializing in areas like human resources and information technology are two examples. Government agencies are also expected to have an increased need for Business Consultants to help them achieve greater efficiency and reduced spending.
The average salary for a Business Consultant is $99,000 with the top percentage of earners earning up to $172,000. Salaries will vary according to experience, industry, education, and location. Those who work with consulting firms receive base pay plus bonuses, while self-employed Business Consultants are often paid by the hour or by project.
How Long Does it Take to Become a Business Consultant?
You should expect an average of five years to become a Business Consultant. It will likely be years before you become an expert Business Consultant, given that you need a particular skill set consisting of a deep knowledge of an industry and analytical and leadership skills. Most people in this career path complete a bachelor’s degree, and some go on to earn an MBA or a related master’s degree. Even after earning a degree, you’ll need to spend a few years in the field getting hands-on experience and developing expertise. When earning an undergraduate degree, it’s best to major in something related to business, finance, marketing, or accounting. You can also major in something that is related to the field you most want to consult in.
Certifications are not required, but they are beneficial to Business Consultants. These additional credentials can increase your credibility, help you land better clients or projects, and show your commitment to ethical practices. You’ll find that there are multiple certifications available. One such certification is the Project Management Professional certification. The Project Management Institute has oversight of this certification, which shows that you have an understanding of business needs and technical project management skills. For an internationally recognized certification, the Certified Management Consultant certification offered by the U.S. Institute of Management Consultants is an option.
Business Consultant vs. Business Analyst
While these two business professionals are similar in some ways, there are key differences that set them apart. A Business Analyst will help an organization identify and solve problems using data analysis, modeling, and testing. A Business Consultant will provide an organization with objective and expert advice on solving specific problems based on their expertise, research, and data analysis. They are usually contract workers who are hired for a project, whereas Business Analysts are employed by businesses to keep operations and initiatives on track with their goals with data-driven insights. Business Analysts work from the inside out and Business Consultants work from the outside in.
Learn the Skills to Become a Business Consultant at Noble Desktop
If you’re seriously considering becoming a Business Consultant, there are several options for learning the necessary skills. Noble Desktop offers classes that can help you achieve your dream of becoming a consultant. Many Noble Desktop business-related courses include one free retake, 1-on-1 mentoring or bonus training outside of class, and flexible scheduling options.
The “MBA” Business Certificate course is a great start for those who are interested in becoming a business professional. In this 132-hour class, you’ll learn the fundamental skills and concepts to help you thrive in a competitive business world. Although this is a business class, it is not an MBA degree program. It is a comprehensive certificate program that covers project management, financial processes, marketing strategies, data analysis, and practical applications of generative AI. In addition to the live online or in-person curriculum, there is a self-paced module devoted to business law, employment law, and business insurance. Students can also choose 60 hours in electives, including Python for data science, SQL, stock market investing, Figma, and other business focuses.
A Data Analytics Certificate course will give you practical skills in data visualization, data analysis, and statistical analysis. Data analysis is a key part of business consulting because it allows you to make the most of a client’s or project’s data and make data-driven recommendations and strategies to achieve various goals. Earning this certificate will give you an in-demand skill that can be applied in any industry in multiple career paths. Data analytics is a hands-on course with projects based on real-world challenges that explore both predictive and prescriptive analytics. Topics covered in this beginner-friendly certificate program include data analytics foundations, Excel, Tableau, Python machine learning, and SQL. There are no prerequisites.
Marketing is another critical component of business consulting. There’s even a subset of Business Consultants who specialize in marketing. To help a company or client get their marketing strategy in order, you have to understand how to optimize it. This Digital Marketing Certificate course can boost your confidence in addressing digital marketing issues and help you learn when and why to make certain marketing recommendations. You’ll learn SEO, social media marketing, paid search, and analytics tracking to help your clients increase their ROI in today’s competitive markets. Course topics will include digital marketing strategies, YouTube, content, and email marketing, Google Analytics, and website optimization. This course is great for current professionals who need to expand their marketing skill set, business owners interested in learning how to market their business, and individuals who want to get started in digital marketing.