What is the usual day
of a Management Consultant?
By Yohan Albo
The ‘typical’ day of a management consultant does not really exist. Every day is unique and replete with challenges and real business problems. Rather, a management consultant’s day fluctuates based, among other things, on the type of project and stage in the project. However, there are some recurring activities of a management consultant.
Planning the Day
Discuss the priorities of the day with your manager and how you will approach completing them. Often, there is no right answer or quick fix, thus requiring extensive brainstorming and consultation. At DataToCapital, we use a simple method we call “the wins of the day”: we agree as a team on the personal micro-achievements we would like to see done by the end of a given day; these micro-achievements derived from a strategic master plan we agreed on a quarterly basis. So the question we ask ourselves every morning is simple: “how will I create value today?”
Framing the Problem
An understated but extremely valuable tool that consultants bring to an organization. Consultants spend a great deal of time thinking and problem solving. When companies approach management consulting firms, they often do not clearly define the problem. For example, a company might approach a consulting firm asking it to cut costs. This does not actually define the problem. Consultants need to define the underlying problem and coordinate the appropriate steps to solve it.
Data Collection and Analysis
Clients rarely have a good database, forcing consultants to spend considerable time gathering, cleaning and organizing data so that it can be analyzed. In other management consulting firms, junior consultants (aka associates) will then often be tasked with data crunching. This could be figuring out what Year on Year revenue growth was or customer age demographics for their client. At DataToCapital, we believe there is no such thing as dirty job, and data crunching is a key part of generating the insights for our clients, we are involved into it.
It is extremely important for consultants to leverage experts for advice. Part of a management consulting firm’s advantage over his/her client is that they have access to a large network of industry experts they can lean upon for assistance.
One of the most time-consuming aspects of being a consultant are commuting between meetings for our different clients. Client meetings including presentations, interviewing employees and attending board meetings. Furthermore, consultants have plenty of meetings between themselves such as one-on-one meetings with their manager and team meetings to review progress. On our side, we really try to handle a large portion of our work with our clients and business partners leveraging video conferencing technologies…
Part of being a consultant requires preparing appropriate documents to take to meetings. If a consultant is making a presentation, it is crucial that the information contained in those documents can be conveyed in a succinct and clear manner so that those at the company can properly understand what is being said.
Management consultants travel often… very often. Ordinarily, a consultant will fly out to the company at which they are working on Monday and return to the office on Thursday where they will work on Friday. On our side, we have been mainly focused on the Israeli market so far, so we have been super lucky. Working for global clients abroad and attending international conferences have been considered as a great bonus and helped to vitalized our weeks!
It is important to note that these are not the only things that a management consultant does, but it does give you a good idea of what the role of a consultant encompasses.
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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.