Business

Guide to Consulting: 3 Benefits of Consulting

Written by MasterClass

Last updated: Jun 7, 2021 • 3 min read

When a person is an expert in their field, their advice becomes a valuable resource—and offering that advice is part of a professional service called consulting.

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What Is Consulting?

Consulting is the practice of providing professional advice in a particular field to help clients solve problems. These fields can include marketing, finance, film and television, science, law, design and architecture, and education. You can perform consulting services either in-house, freelance, or through a consulting firm, and consultancy duties can range from offering simple blueprints to hiring contractors or designing programs to get the job done.

10 Types of Consultants

There is a consultant for almost every career field. Here are some of the most common consulting jobs:

  1. 1. Engineering: An engineering consultant advises on the design, operation, safety, maintenance, and repair of engineering projects.
  2. 2. Human resources: An HR consultant advises on hiring, onboarding, and people management. They can also help with contracts, creating an employee handbook, and incentive programs.
  3. 3. Information technology: An IT consultant advises an organization on computer software, hardware, and security.
  4. 4. Legal: A legal consultant advises on laws, statutes, and legal proceedings.
  5. 5. Management: A management consultant (or business consultant) advises the leadership of an organization (including startups and new businesses, small businesses, enterprise companies, and nonprofits) on objectives, strategies, and growth to ensure the business is operating efficiently and has robust plans for the future.
  6. 6. Marketing: A marketing consultant advises a business on marketing strategies like social media, website, brand voice, and advertising.
  7. 7. Merger: A merger and acquisitions consultant advises an organization before, during, or after a company merger, helping streamline processes and software, integrating teams, and account management.
  8. 8. Property: A property consultant advises on property acquisitions, management, and sales.
  9. 9. Public relations: A PR consultant advises on press releases, public image, and branding. A PR consultant may also help craft mission statements, organize events, and form relationships with personnel and media professionals.
  10. 10. Sales: A sales consultant advises on sales strategies, often conducting sales training to increase team performance.

3 Benefits of Consulting

Nearly 40 percent of the US workforce is involved in some form of professional consultation. Consulting can be a lucrative field for professionals, offering a flex schedule with ever-evolving duties and responsibilities. Here are some benefits of working as a consultant:

  1. 1. Variety and challenge. Companies hire consultants to develop innovative solutions to high-level, niche, and field-specific problems. Consulting is all about creative problem-solving, which involves using out-of-the-box thinking to tackle heady issues. For consultants, no two days will be exactly alike because once a problem is resolved, it is usually replaced by another issue with its own unique challenges. If you enjoy varying, challenging work, then consulting may be for you.
  2. 2. Generous pay. Most consulting jobs pay well in their fields, whether it’s engineering, law, construction, or management. Those working as full-time employees, either in-house or with top firms, usually enjoy robust healthcare and benefits packages and perks (though these job descriptions often come with extended hours). Alternately, independent consultants can choose how much work they take to manage their income.
  3. 3. Unique lifestyle. Consulting is attractive to many professionals because of the unique lifestyle it affords. While typical corporate jobs involve sitting in the same office every day, consultancy often requires air travel and working in many different offices. For instance, working in your client’s office for part of the week, then working at home or in the firm’s office for the remainder). When you’re a part of a consulting firm, you’ll often spend a lot of time attending dinners or events on the company’s dime.

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