Do you know what are the top 5 skills that all successful consultants need? In this video, I share the top hard skills and soft skills that you need to succeed as a consultant. Successful consultants in Tier 1 consulting firms such as MBB (i.e. McKinsey, BCG, Bain) will likely have mastered these skills for a successful career in management consulting.
Many people ask: What skills do I need for consulting? In the video, I talk about consulting soft skills, how to become a successful consultant, and key skills you need to be a management consultant. Strategy consulting can be challenging, you better learn the most important consulting skills to succeed at firms like BCG consulting, Mckinsey consulting or Bain consulting.
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About Shatakshi-
Shatakshi is Co-CEO of 🚩Global Governance Initiative (MBA program recently featured by Poets & Quants), an Ex- 🚩Boston Consulting Group, BCG, management consultant, a 🚩writer, and former public policy advisor in 🚩Tony Blair Institute for the Middle East region.
She has been also felicitated with The Most Promising Women Leader 2021 award by ET and 🚩Linkedin Top Voice 2021. Her interviews have been published in leading policy and career organizations- Modern Diplomacy, BCG, Poets & Quants, Your Story.
She will be uploading daily content on 🚩career advancement (MBA, consulting) 🚩personal finance, and 🚩productivity hacks. Be sure to subscribe to the channel to get notified whenever she uploads the video.
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Are you a management consultant enthusiast? Do you wish to know the various skills management consultants need to not only survive but thrive in the industry?
In this career insight, I will be sharing the hard and soft skills that every MBB consultant needs. I will be taking into account my personal experience as a former BCG consultant.
Hard Skills
1.1 Microsoft Excel
This is the primary technical skill you need to excel in the industry :P
A lot of my time as a management consultant was spent on excel. It is an essential tool since you would be required to do a lot of number crunching, projections and cost savings analyses. You are expected to know these skills, especially if you are an experienced professional.
1.2 Business Acumen
This is going to be quite pivotal in your journey as a consultant.
I remember my first day at a boutique management firm, where my manager had asked me to explain the business model of a company. I was astounded due to my lack of experience in this business field.
Not only are you expected to know the jargon of the industry, but also have an intuition about such things. Additionally, you ought to know the basics of financial accounting and marketing.
Taking the example of my first case at BCG, where the client was an IIM Ahmedabad gold medalist. Despite our thorough analysis, he would always ask questions about our reports and suggestions. Gone are the days when you deal with dull and inactive clients, especially in the MBB.
You have to be ready to display your competence.
1.3 Decking
I only came to realize the importance of PPT making after some time.
Consultants are primarily storytellers. You are selling a story of qualitative and quantitative data.
You need to have an airtight presentation on why they should spend large amounts of money on your suggestions. PPTs come in very handy to share a succinct narrative with the client.
Soft Skills
2.1 Communication Skills
These skills are the bread and butter of a management consultant.
As a consultant, you deal directly with CXOs from your as well as the client's organization. These are extremely busy people. So you should be able to deliver your points effectively in 2-3 minutes.
2.2 Emotional Intelligence
In a working environment, you must be able to have an influence amongst your colleagues. This includes your team, the professionals from the client's side and your case partner.
