Across every industry, businesses are constantly looking for ways to streamline operations and optimize efficiency. When they need expert guidance, they may turn to dedicated business consultants.
If you’re interested in working with companies and organizations to solve problems and improve overall performance, then a career in business consulting may be right for you. With a little insight into what this line of work entails and how to become a business consultant, you can decide whether this career path may be worth pursuing.
What Is a Business Consultant?
A business consultant is a professional who provides expert advice to organizations—typically as an external partner rather than an internal employee. Their role is to analyze challenges, identify opportunities, and recommend strategies that help businesses operate more effectively and reach their goals.
Rather than being employed by a single company, business consultants often work independently or through consulting firms, offering specialized services to multiple clients across different industries. These services might include streamlining operations, improving financial performance, implementing new technologies, or developing growth strategies.
While the U.S. Bureau of Labor Statistics (BLS) does not have a category specific to business consultants, related roles such as management analysts offer a general picture of this career path. Business consultants work with companies, nonprofits, and government agencies alike, with common industries including IT and technology, finance, marketing, and healthcare.
What Does a Business Consultant Do?
Although the everyday duties of a business consultant may vary from one role to the next, some basic responsibilities include:
- Researching and gathering information about business operations and procedures.
- Reviewing financial data, employment data, and other reports to gain a big-picture understanding of a company’s performance.
- Making recommendations for new systems, procedures, and technologies to improve operations.
- Implement changes and evaluate overall recommendations success.
- Collaborating with employees to gain valuable insights and reporting to business leaders/decision-makers.
Types of Business Consultants
Within the broader field of business consulting, some different areas of specialization may be worth exploring based on your own interests and professional strengths.
Management Consultants
Whereas a general business consultant may look at ways to improve operations and performance as a whole, management consultants are more focused on how a company can be run better by those at the top. These professionals may work one-on-one with managers, directors, and other leaders to make recommendations regarding business management practices.
Financial Consultants
When businesses need to gain a better understanding of their financial situation or are looking for ways to improve financial management, they may turn to dedicated financial consultants for guidance. These consultants analyze a company’s financial reports to make recommendations regarding risk management, investments, strategic planning, and budgeting to help companies achieve their financial goals or navigate complex situations (such as mergers and acquisitions).
IT Consultants
Navigating the use of new technologies and leveraging existing technologies can help businesses run more efficiently and cost-effectively. In some cases, businesses will bring in IT consultants to help them identify issues or weaknesses with their current technologies. From there, these consultants may make tailored recommendations for new IT solutions or technologies that could solve problems. In many cases, these consultants will also help implement new technologies by offering ongoing training and support to employees.
Marketing Consultants
When businesses want to maximize their marketing and advertising budgets, they may hire marketing consultants to review and improve their strategies. A marketing consultant can assist with market research, analysis of existing marketing campaigns, and development of new marketing strategies to optimize ROI for proven results.
Human Resources (HR) Consultants
The ins and outs of recruitment, hiring, onboarding, and training can be highly complex and nuanced. In some cases, businesses may need tailored expertise and guidance to improve their recruitment tactics, reduce turnover, and create better workplaces for their employees overall. Human resources consultants can assist with all of this and help businesses stay in compliance with industry-specific laws and regulations.
Operations Consultants
For businesses with complex operations, specialized consultants may be brought in to review internal processes and make changes to optimize operational efficiency. Specifically, operations consultants conduct assessments and audits of a company’s current operational practices to make recommendations that resolve common issues related to logistics, supply chain management, and technology integration.
Skills and Qualities of a Successful Business Consultant
What does it take to be a successful business consultant? From technical skills to core competencies, here are a few of the most essential qualities of a knowledgeable and capable business consultant:
- Analytical thinking, or the ability to assess large amounts of information and come to reasonable conclusions.
- Communication skills, including both verbal and written communication. Business consultants will need to be in regular communication with business leaders, decision-makers, and everyday employees.
- Project management, or the ability to see a project through every step from start to completion.
- Adaptability and flexibility in changing circumstances, as the demands of this work can vary greatly from one client to the next.
- Team collaboration, or the ability to work well with others. This includes not just clients, but others in the field.
- Emotional intelligence, particularly when it comes to interpreting and responding appropriately to clients’ needs.
- Problem-solving, especially when coming up with creative solutions to a diverse range of business problems.
- Time management, as it is not uncommon for business consultants to juggle multiple clients and tasks at once.
- Decision-making based on industry best practices and data-driven analytics.
Educational Requirements
If working in business consulting appeals to you, it’s important to understand the educational requirements you’ll need to fulfill to find work in this field.
According to the Bureau of Labor Statistics (BLS), “a bachelor’s degree is the typical entry-level requirement for management analysts. However, some employers prefer to hire candidates who have a master’s degree in business administration (MBA).” It’s important to note, however, that most business consulting roles require not just formal education, but also significant professional experience and subject matter expertise. While a bachelor’s or master’s degree provides a strong foundation, those entering the field typically need to bring years of industry experience or specialized knowledge to succeed as a consultant.
Even if you enter the field with a BBA, earning your MBA can be a great way to explore career advancement and promotion opportunities while expanding your skill set and expertise.
Certifications and Credentials
While formal certifications and other designations may not be required to find work as a business consultant, pursuing these additional credentials can be a great way to boost your credibility while setting yourself apart from other candidates.*
Some of the more popular credentials that may be worth looking into include:
- Certified Management Consultant (CMC) – Offered through the International Council of Management Consulting Institutes (ICMCI), this certification requires applicants to pass a rigorous exam, adhere to a code of ethics, and fulfill ongoing professional development requirements.
- Project Management Professional (PMP) – Available exclusively through the Project Management Institute (PMP) this designation requires applicants to pass a challenging exam that is based on the Project Management Body of Knowledge (PMBOK) Guide, in addition to earning a minimum of 60 professional development units (PDUs) for certification renewal every three years.
- Certified Business Analysis Professional (CBAP) – This certification is offered through the International Institute of Business Analysis (IIBA) and requires applicants to have a minimum of 7,500 hours of experience in the past decade. Applicants will also need to pass an exam, agree to a code of conduct, and complete at least 35 hours of professional development in a four-year period.
How to Become a Business Consultant
While no two business consultants’ journeys look the same, here are some basic steps you can follow to break into the field.
Gain Relevant Education and Experience
At minimum, aspiring business consultants will want to have a bachelor’s degree in business, business administration, or a related field. From there, you can explore entry-level roles in the field to gain valuable experience.
Equally important is developing deep expertise in a specific industry or functional area, as most consultants are hired for their ability to provide insights based on firsthand experience. Becoming a consultant is typically a long-term career goal that requires years of building relevant knowledge, credibility, and practical skills.
Choose a Specialty
Designating an area of expertise can help you hone your skills and narrow your focus. If you’re interested in the financial side of running a business, you might pursue a career in financial consulting. On the other hand, if you prefer working directly with people, then a specialization in HR consulting may be right for you.
Build Your Network and Personal Brand
Finding success as a business consultant is just as much about who you know as what you know. Building a robust professional network and personal brand are essential to your growth while you’re in school and as you begin working in the field. In-person and virtual events can be great opportunities to connect with others in your field. Maintaining a strong online presence can help you establish yourself as a thought leader in the field.
Consider Certifications and Advanced Degrees
Differentiating yourself with special certifications can be a great way to build upon your skills while enhancing your knowledge. Pursuing an MBA could also be a smart investment if you aspire to work in more advanced business consulting roles.
Decide Between Freelancing and Joining a Firm
Many business administration graduates go on to work for consulting firms, but this is not your only choice when it comes to working in this field. Aside from seeking employment with a dedicated consulting firm, some business consultants will work as independent contractors or freelancers. Taking this path allows you to be your own boss while deciding which clients to work with based on your interests and scheduling needs.
Job Outlook for Business Consultants
According to the BLS, the job outlook for management analysis is projected to grow 11 percent between 2023 and 2033, which is faster than average for all occupations nationwide. In that same time period, more than 95,000 job openings for management analysts are expected each year, making now a great time to get into the profession.
Is Business Consulting Right for You?
Ultimately, the decision to pursue this line of work will depend on your own strengths, interests, and professional goals. However, if you enjoy working in a fast-paced environment while helping businesses reach their full potential, then a career in business consulting may be right for you.
Learn More in a Business Administration Program
Business and management consultants are vital in guiding businesses towards optimal performance, offering expert guidance and strategy in today’s competitive global environment. If you’re a natural problem-solver and enjoy collaborating with others to achieve an end goal, this profession offers plenty of opportunities for specialization and advancement.
Still looking for the right business degree program to prepare you for this fast-paced and dynamic career? Johnson & Wales University is proud to offer business administration degrees at both the undergraduate and graduate levels — including a Bachelor of Science in Business Administration and a Master of Business Administration.
Both of these programs, which are offered in a convenient online format, include coursework in essential areas of business and management consulting. While these degrees do not lead directly to a consulting role, they help build a strong foundation in leadership, strategy, and critical thinking — skills that are valuable in many roles and can, over time, support a transition into consulting. Take the next step in your career journey by requesting more information and filling out your online application for undergraduate or graduate admission today.
*JWU Online does not formally endorse any certification. Readers are encouraged to do their due diligence in researching and determine which certifications (if any) to pursue based on their own career goals and interests.