Following business consultant career is both fulfilling and inspiring because it offers to make a difference between businesses in industries. The average revenue gathered from a business management service provider was about $212,000 (Statista, 2023).
These stats showcase that a consultant’s salary is also a handsome price for their living and surviving in the world. Hopefully, you are also in the race to become a professional in this sector. If so, then continue to read our guide on how to become a business consultant.
Let’s Get Going!
What is a Business Consultant?
A business consultant professional is a business expert who gives strategic suggestions to businesses for coping with their challenges. In addition, a professional analyzes their business according to the marketplace and advises them to implement strategies for business development.
Key Statistics on the Business Consultant Industry
1. The industry was peaked in 2020 with a Trillion US dollar revenue.
2. Industry size was even grown in 2023 with an evaluation of 1.8 Trillion US dollars.
3. Up to 70% of businesses went for business consultants in the previous year.
4. The annual revenue of consultant agencies is 9% of the GDP.
5. 840,000 individuals chose the consultancy profession in 2023 only in the USA.
How To Be a Business Consultant?
There is no way, you wake up one day and realize that you should change gears in your career. Although it is not impossible, but needs consideration. Therefore, we have shortened your destiny goal about how to become a business consultant to give businesses solutions.
1. Figure Out Your Specialty
Finding out your speciality would be your first move after deciding to become a company consultant because it has a significant impact on your career. As a consultant, you need to disclose your interests and skills in front of yourself to choose the best for yourself.
For instance, if you have interests and skills in information technology (IT), then go for the IT business consultant profession. So, you can choose from management consulting, strategy consulting, financial consulting, operations consulting, and HR consulting professions.
2. Go for a Bachelor’s Degree
Here is the most interesting part, learning. A bachelor’s degree is a must-have thing to kickstart your dream. Although you may choose a degree according to your choice of interest like, business management, marketing, economics, and engineering.
3. Get Familiar with Industry Tools
As you know technology is ahead of the market curve which makes professionals rely on business consultant tools. That’s why you need to get familiar with some common industry tools, like Trello, before going into the business.
4. Have Experience
To make things right, you should experience how they work practically and understand some What If Situations. Go for an internship with small business consultants to get familiar with how they deal with challenges and what they suggest to their clients.
5. Improve Your Presentation Skills
Remember: What is Seen is What is Sold. That means you need to present your plans, strategies, and methods to clients more comprehensively to make them understand. Further, go for public speaking practices, audience engagement, and presentation tools to improve your presentation skills.
6. Broaden Your Professional Network
Porter Gale, a professional marketer, said once, “Your Network Is Your Net Worth.” The more you enrich your professional network the more you will get leads in your upcoming tasks. In addition, you are completely good at joining events and establishing stable relations with different people.
7. Start Your Business
Now, time has come to start your own business in the industry after gathering all the gears in your hands. Make a list of the goals and objectives, you desire to achieve after starting your business and ideal a business plan forward.
8. Market Your Services
After establishing your business online and physically, it’s time to market your services to drive clients. Create a professional website and social media handles and make the most out of your networks to market your services. Digital marketing is also a way to establish a robust online presence on the Internet.
How Much Does a Business Consultant Make?
A business consultant salary depends on how his career approaches help businesses and how popular he is. In addition, his skills in presenting strategies to implement in businesses for enriched progress decide how much will he make.
Statista states that an average joining with a bachelor’s or master’s degree in a consulting firm will gain up to a $75,000 bonus amount and a $100,000 base salary in 2024. Making money in the business consulting sector depends on how satisfying your consulting services are.
| Business Consultant Salary | Low | Average | High |
|---|---|---|---|
| Per Week | $665 | $1,894 | $5,400 |
| Per Month | $2,571 | $7,331 | $20,897 |
| Per Year | $36,320 | $103,537 | $295,155 |
Summary
Well, that’s all you about how to become a business consultant without any experience although skills are necessary. In the above section, we have shortened the journey to simple steps while addressing you with the base salary of professionals.
So, Start Practising and Give Businesses Expert Fixes!
FAQs
Q1. Do I need a business license to be a consultant?
A requirement for a business license to be a consultant depends on your location to start your consulting and the types of your services. If your region demands a license, then you have to provide authorities with a business license.
Q2. How much does a Business Consultant charge?
An average business consultant charges $150 to $450 per hour to discuss your business’s wellness and suggest strategies to develop.
Q3. Are there any part time business consultant jobs?
Yes, many firms offer part time business consultant jobs to undergraduate and graduate students to harness their skills.
Q4. Can I do international business consultant jobs?
Indeed. You can do international business consultant jobs remotely by using some of the best technology driven tools for professionals.
