Top Consulting Trends for 2019

The consulting industry continues to play a large role in many business industries. The demand for experienced consultants only continues to grow.

Let’s talk about some challenges that are facing the consulting industry, which may cause disruptions. Then, we will move on to talk about current trends in the consulting industry in 2019 and beyond.

Unlike many other industries, consulting is not something that can be automated or left to artificial intelligence. Consulting requires human input and intelligence, which means that it will continue to be in demand. With a deluge of information on any industry on the internet, some companies may turn to “articles” instead of a consultant for customized services. A good consultant is someone who can provide information and advice in a particular niche garnered from experience and education.

Another challenge to consulting firms is the recent trend of employees leaving to join other firms or to start their own freelance agency. There are a number of reasons consultants are doing this. Some of the top reasons include finding a better opportunity, not finding their current compensation and benefits to be adequate, and not finding enough career growth potential in their current positions.

Now, let’s move on to some notable trends. First, prices are going down, due to many freelance consultants and budget agencies providing consulting services at lower costs. On the other hand, some larger consulting firms have been buying off smaller firms. This can raise prices and create a monopoly.

Some companies, instead of hiring outside parties to provide consulting services and advice, are creating built-in teams of strategists to guide their staff.

Something that we may be seeing in the near future is consultants moving towards a value or outcome-based pricing model. Most consultants are still charging clients based on an hourly fee. While this works out better for consultants, it can raise prices for clients, especially if they are not seeing satisfactory results.

It is interesting to note that many consulting firms have reported anxiety due to increased competition, as well as increased customer expectations. Consultants are now striving to meet customer expectations as a top priority.

Diversity is another trend in the global consulting industries. Firms are looking to improve and expand when it comes to diversity. Different backgrounds can be valuable resources for creative problem solving.

With these challenges and trends in mind, the consulting industry will continue to flourish. Management consulting is still needed for a variety of industries (i.e. financial services) as new technologies emerge and customer behaviors change. Disruptions will occur, but consultants that have competitive pricing, personalized services and strong technical knowledge will survive them.

What You Should Know Before Starting A Consulting Business

Many professionals are becoming more and more interested in starting their own consulting business. It has the perks of a great career path with a lucrative upside. However, what people don’t initially realize is that consulting is not as easy as it appears to be. In fact, it is a lot harder than you might think. Now, this is by no means to discourage you from starting a consulting business if that is what you are passionate about. There are some cautions to be aware that can save you a lot of headaches down the line and move you closer to that dream. So, with that said, here are some of the things you should know before starting a consulting business.

 

You Will Face Cranky People

You’re going to have to deal with cranky people. It is just part of the nature of the job. Consulting is a face-to-face business where you are meeting with people, shaking hands, and have conversations with them. Not many people can handle unpleasant relationships, and if that is the case for you, then you may want to reconsider going into consulting. You are going to deal with people who aren’t the nicest when they speak to you, but part of the job is figuring out who is worth working with and who is not. You will find that at some points, you are going to have to deal with some relationships that aren’t most pleasant to handle.

 

Knowledge Is Your Deliverable

At the end of the day, as a consultant, you were hired for one reason, and that is your knowledge. It is the one thing, individuals and companies expect from their consultant. They want your expertise in the particle niche for which you were hired, and for this reason, you must assert this knowledge and present yourself as the expert. Your clients are hiring you because when it comes to certain projects, you know something that they do not. So, don’t hesitate to tell it like is and deliver the knowledge that they paid for. Some people may agree, and some people may disagree, but you would be doing them a disservice if you didn’t deliver your knowledge to its fullest capacity.

 

You Might Not Be Charging Enough

One of the common mistakes that new consultants make is not charging enough for their service. Whether it is guilt or inexperience, this is a common blunder that most people make. While there is no magic formula for setting your fee, there is a general rule, and that is to charge more than you think you should. You have to remember that just as your clients are getting a return on their investment, so should you. Also, the higher your rate, the better you and your service look. A consultant whose fees are $100 per hour will be viewed as far less valuable than one who charges $5,000 per hour. You are selling yourself and your knowledge, so you want to make sure that clients know it is worth the investment.

Owl Management Consulting Now in Framingham

Alexandra Arrivillaga Owl ManagementEarlier this week, Alexandra Arrivillaga De Castro, (known in professional circles as Alexandra Arrivillaga) announced that Owl Management Consulting is opening its doors to a third location based in Framingham, MA. This announcement comes after two successful location openings at One Boston Place and Ten Post Office Square earlier this year.

The newest addition to Owl Managment Consulting will act as headquarters for the growing company. This new location has an intersting history of its own as the former home of John A. Lynch. Mr. Lynch was well known for his work as an a writer and photographer, and served as an Honorary trustee of the New England Wildlife Society. 

CEO Alexandra Arrivillaga admits that the experience of opening this new location for her thriving business has been an exercise in having things come full circle. She explains, “When I lived in an apartment in Framingham, I used to walk in Garden in the Woods [botanic garden and headquarters of the New England Wild Flower Society]. This is where I came up with the idea for my company.” She goes on to explain, “Now, I feel I have come full circle opening this location. My real estate agent Ben worked tirelessly to help me find the property. I am so lucky to have my own ‘Garden in the Woods.'”

Alexandra Arrivillaga De Castro’s enthusiasm is palpable, and this new location will provide one more outlet for Owl Management Consulting to provide clients with a number of well-developed services.

 Owl Management Consulting caters to private, public and not-for-profit organizations that seek advisory services. Owl specializes in services that include; customer relationship management, organization change management, diversity training for managers and Strategy, risk management and business process services.

The company’s reputation is built on the strength of delivering master advisory services, under the leadership of communications and management consultant expert Alexandra Arrivillaga.

To Learn more about Owl Management Consulting, visit the company website here.