Myths about Consulting
By Yohan Albo
There are numerous misconceptions about the work and lifestyle of a consultant. Some of them may contain some truth but many of them consultants only wished were true.
Living the Good Life
When people think of travelling management consultants, they think of consultants taking first-class flights, eating at high-end restaurants, and a generally glamorous lifestyle. Of course, all paid for on the corporate card. While management consultants do indeed travel a lot, and as a corollary rack up a heap of frequent flyer points, their travel routines, for the most part, are far from glamorous.
Rather, it is more likely that a management consultant will be staying at a two-star motel in a small town, eating cheap take-away food than staying at the Hilton in New York City, Tel Aviv, or Paris.
There is a widely held belief that management consultants work extremely long hours and don’t sleep. There is some truth to this, especially when deadlines are approaching for certain projects, but in between projects consulting firms are often quite understanding of their employees and grant them well deserved breaks. At DataToCapital, we are involved in various types of the projects, some of them requires being in touch with the client on a daily basis (e.g. execution projects while working for client executives, some others require more asynchronous work (e.g. the start-up fundraising efforts). We have personally found this mix refreshing…
Stating the Obvious
The saying goes that management consultants “steal your watch and tell you the time.” In other words, consultants state that which their clients already know and is obvious. This is simply not true.
Management consultants find solutions to some of the toughest problems for the world’s largest companies, which they themselves cannot solve. If solutions to these problems were self-evident, why else would these prestigious companies hire management consultants? For many problems, management consultants put in countless hours just to find the right data, analyze it, and transform it into something that clients can understand and implement accordingly.
Indeed there are ‘bad apples’ out there, but on the whole, management consultants demonstrate tremendous knowledge, efficiency and grit, yielding phenomenal results for their clients. We recommend you to have a look at what our clients say about our work 😉
No problems. No need.
Many businesses believe that if they cannot think of any problems they are encountering then they do not need management consultants. However, consultants are not only meant to save flailing businesses but are also able to help businesses grow, enter new markets or merely become more profitable than they already are at the present time.
Furthermore, some business owners erroneously believe that because they have intricate knowledge of their own business, they do need consultants to help solve potential problems. However, management consultants can provide an unbiased perspective that is not emotionally attached to the business in a way that blinds it from true objective analysis of its future prospects.
Indeed, consultants cannot make your business perfect no matter how hard they try. But, as Vince Lombardi states, “Perfection is not attainable, but if we chase perfection we can catch excellence.”
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DataToCapital is a boutique management consulting firm that supports global tier-1 firms and start-up companies operating in Israel in their route to excellence and market dominance. Our core services, designed for CEOs, Executives (VP-level and above) and Entrepreneurs, can be divided into three areas: Market Intelligence, Corporate and Product Strategy, and Execution Support on top-down strategic initiatives.
The quality of the work we deliver in the three areas mentioned above is equivalent to what your company may already get from the top-3 consulting firms that operate in the Israeli market, BUT here’s the twist and why our tier-1 clients think we are superior.
We don’t only provide smart recommendations, we work closely with the management team and can also support driving the execution of their strategic initiatives behind the scenes or as a proxy.
We are at the strategic intersection of Business and Technology. Thanks to our rich background, we know how to connect the dots between the two worlds, and how to be very creative when it comes to disrupting business models or addressing sub-optimized processes with the help of advanced technological solutions (Machine Learning, Big Data, Data Visualization, Enterprise Software Solutions, and many other tools present in our toolbox).
This is a built-in feature.
No account manager, no complex communication chain, etc...
This is why our firm aims to dominate the management consulting market in Israel with no more than eight talents (...on steroids).
Our long-term vision is to become the trusted advisor to the most influential businesses and institutions operating in Israel, and help them become global leaders in their markets.