11 Tips for New Consultants

Expedition 29/30 crew training with astronaut Dan Burbank working with Robonaut (overview, skills, taskboard).  Photo Date: June 17, 2011.  Location: Building 32A, Room 2009.  Photographer: Robert Markowitz

Expedition 29/30 crew training with astronaut Dan Burbank working with Robonaut (overview, skills, taskboard). Photo Date: June 17, 2011. Location: Building 32A, Room 2009. Photographer: Robert Markowitz

After releasing a few big products last week, we’re back to regularly-scheduled programming. This week, we’ll focus on the consulting lifestyle . Today’s post is on practical tips to being successful as a new consultant. A former manager once said to me, “do well in your first project, and you can write your own ticket for the next few years.” To that end, here’s a tactical list for getting off to a fast start on a new project. Follow the 11 steps below and you’ll be a management maven in no time: 1. Set up Google Alerts for your client and its competitors This is an absolute must. Google Alerts feed you the latest online information (collected primarily from news sites and blogs) related to keywords that you specify . Set up these alerts for your client and its top 3 competitors. This will help you stay current on client and industry developments, which will come in handy through the project. Many people are too pre-occupied to do this regularly, and it’s a quick win for new consultants to add value. Go here to get started. If you don’t know your client’s key competitors, use tools like Yahoo! Finance . 2. Know basic financial data for your client I can’t tell you the number of times basic questions like “What’s Client X’s total annual revenue?” have come up in internal discussions. You want to be the one that can provide an accurate answer, as opposed to “Oh, I think it’s something like $10-20 billion…let me check.” Some key numbers include: -Market cap -Overall revenue -Gross profit -Margins (profit and operating) Memorizing them doesn’t take long. It will come in handy. 3. Familiarize yourself with the client CEO and senior management There are many stories of newbie consultants having a […]

3 thoughts on “11 Tips for New Consultants

  1. emily bennette

    This is some really good information about consulting. I like that you pointed out that you should proofread everything. That way, you can make sure everything you present makes a good impression. I know that I would be a little scared to hire someone who couldn’t spell.

  2. Jennifer Glidden

    Great tips! The thing that stands out most to me is being prepared and really understanding your prospects and clients business before you’re working with them. Thank you for some new ideas to be even more prepared for new consulting work.

  3. Aira

    Great tips you have here. I agree that even the smallest things can add great impact in building relationships with your client and colleagues! From organizing a meeting to treating your assistant well. I’m just new to consulting services and I will make sure to keep this in mind.

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