Why I Became a Consultant  Moving to NYC Life Update  What is Management Consulting - video Dailymotion

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Watch Why I Became a Consultant  Moving to NYC Life Update  What is Management Consulting - tylorbell on Dailymotion

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00:00what's up guys my name is taylor bell if you're new here and welcome to my very first consulting

00:04video all right so today we're going to go over what actually is management consulting what are

00:08some projects that a management consultant might actually work on why i chose to go into management

00:13consulting after graduating from college and some indicators on how to know if this might actually

00:18be a good job option for you as well if you're curious i will also give you guys a quick life

00:22update on my big move to new york city so stay tuned for that all right so a little quick background

00:27on me if you're new here so this makes more sense i graduated from the wharton school of business

00:31undergrad at upenn this past may i made a video about it last week or i guess it's almost two weeks

00:36ago now but it's right here if you want to see it and i'll link it in my description below as well

00:40so in college my specific majors or concentrations as we like to call them were business management

00:45and operations in wharton so i got two concentrations within wharton and then in the college of arts and

00:50sciences i studied international businesses so it was a dual degree program i'm just telling you this

00:53because it might give some background into why i want to go into consulting afterwards or just kind

00:57of where my interests are at so yeah so i will start my full-time job as a management consultant

01:02in new york city mid-april so only like five weeks from now so as my start date gets closer i'm starting

01:08to kind of get my mind a little bit more geared towards working and towards consulting so i figured

01:12now was a good time to kind of start my series on consulting what it's like how to get into it how to

01:17apply for it all that good stuff because yeah i'm about to start so all right so let's jump in what

01:22actually is management consulting well by definition management consulting is the practice of

01:27helping organizations improve their performance so what a management consultant does big picture

01:32they work with the leadership of a company to help assess the problems or inefficiencies within

01:36that company gather more information and then help create and actually in some cases implement those

01:41solutions so some firms are more heavy on the actual strategy side of things coming up with

01:45the ideas and actual strategy and then others are more heavy on the implementation side so actually

01:50putting the ideas and strategy in place and the firm that i'll be working at is more geared towards

01:54strategy so a lot of the time consultants will actually fly to another city in the us or i guess

02:00worldwide but they'll fly to a different city and then stay there for three to four days out of the

02:04week in order to assess the company that they're looking at and then they'll fly home to their base

02:08city where their home office is and stay there for the remainder of the week so as a consultant you

02:11really learn how to pack a suitcase very efficiently which i think is a great skill so that's what a

02:16management consultant does big picture and i'm actually glad that i'm making this video before i actually

02:20start working as one because it'll be interesting to see how my day-to-day sort of differs from what

02:25the like paper definition of a management consultant does or what they do day-to-day according to the

02:29internet because realistically i know i'm going to be spending a lot of time in powerpoint a lot of

02:33time in excel and of course during the pandemic i will not be traveling as much or at all we'll see

02:38so i'm excited to report back in a couple months and actually let you guys know what my day-to-day

02:41realistically looks like and who knows maybe i'll look back at this video and make some revisions

02:45i'll keep you guys updated but you didn't expect to see me here i just realized that not once not

02:51a once in this whole video did i kindly ask you guys to go ahead and tap the like button and what

02:56kind of small youtuber would i be if i didn't try to creatively insert myself here and ask you to do

03:01that because it'd be really nice of you thank you very much now back in all right so we talked about

03:06what a management consultant does on paper and i'm looking forward to giving you guys a more

03:11realistic view maybe of what my personal experience is like a couple months into the job but

03:15what are some examples of projects that a management consultant might work on so some

03:19types of consulting projects could include strategic projects performance improvement projects

03:24turnaround projects implementation projects and m a mergers and acquisitions projects among others

03:30of course these are just some common buckets that i kind of found when i was researching for my

03:34interviews so i'll probably make a full video dedicated to the case interview process and how to apply

03:39for a consulting job and how to hopefully get one but for a little sneak peek on what the interview

03:43process kind of looks like you get these things called case interviews and most of the ones that

03:47i had were definitely more geared towards strategic projects which could be something

03:51like figuring out the best way for a company to enter a new market or the best way for them to

03:55roll out a new line of products that kind of thing so stay tuned for a future video on the

03:59case interview process and how that really works okay so why did i decide to actually go into

04:04consulting so i know these reasons are going to sound a lot like reasons i would give in an

04:07interview and there probably is some overlap there but this actually is my thought process so

04:11bear with me so first the way that consulting was kind of described to me by my older friends

04:15at penn who ended up going into consulting a lot of people look at it as an extra few years of

04:19learning obviously not learning in school like where you sit in a classroom but a lot of hands-on

04:23learning in the sense that you're working with so many different companies and you're just

04:26gaining a lot of new experience across a lot of different industries so this to me was actually

04:30a huge pro of consulting because i didn't know exactly what industry i wanted to go into

04:34after graduating from college of course i know the general industries and things that i'm

04:38interested in verticals within consulting and that's definitely more geared towards consumer

04:42goods and services but i really didn't have one specific industry i wanted to go into or one

04:47specific company that i really really wanted to work at so hopefully what consulting will do for me

04:51is kind of open my eyes to this broad range of industries until i can kind of narrow down what

04:56sort of company or what sort of field i really want to go into so the second main reason is that my

05:00mind does get a level of satisfaction for making things more efficient that's not to say i'm an

05:05organization wizard or a clean freak or anything like that in fact i'm actually pretty okay with

05:09my room being kind of messy most of the time but when i walk into a grocery store for example i do

05:15recognize or at least i think about how things could be more efficiently laid out or if i walk into an

05:19open house because i like doing that kind of thing i start thinking about how i can improve the layout or

05:23at least how i think it could be improved obviously those are subjective things but you know what i

05:27mean my mind is kind of geared towards making things more efficient not on a hyper level like if you

05:31imagine german efficiency but i do like efficiency or i guess more accurately i dislike inefficiency

05:37so it's not just that i totally didn't know what i wanted to do yet it's also that i like to think

05:41my mind is sort of suited for this job and the third reason and this is more of a cool byproduct rather

05:46than a full-on reason that i went into it but it's that you gain a pretty great network by working

05:51a consulting job since you're working with so many different companies over the you know few years that

05:56you work as a consultant you're meeting a lot of different people and if you can leverage those

05:59connections that you make with the higher-ups at those companies that could potentially be a very

06:04useful resource to have and not even just thinking about it from like a useful standpoint it's also

06:08just i don't know very valuable to know a lot of different people in a lot of different industries for

06:12obvious reasons like in my wharton video i go over how the most valuable part about going to a school

06:17like that is 100 not 100 but mainly the network and the connections that you get much more so than the

06:22actual knowledge that you learn in the classes that you take sort of the same thing here the network is

06:27just of course very valuable is what i'm trying to say something that kind of shows us is the fact

06:30that it's not uncommon for consultants to actually get job offers from the company that they're

06:35consulting for if the company kind of gets to know you and they think that you do good work and that

06:39you'd be a good fit then they could potentially give you a job offer as well and that could just be

06:43another cool opportunity even if it's not one of the main reasons that you would go into consulting so

06:48that's another reason all right so now some signs or just some ways that you might know that consulting

06:53might be a good job for you as well well if the reasons that i already went over for myself one

06:57not knowing exactly what industry i wanted to go into after college but wanting to get a wide range

07:02of experiences to enjoying organization and just making things more efficient and making some cool

07:06connections along the way well then it might be a good job for you again i'll know more in a few months

07:10when i've actually been on the job for a little bit so i can further flesh this out but these are some

07:14signs that if you might think like me or if you're just not exactly sure what you want to do but you do want

07:19to get experience in a wide range of industries i don't know how many times i've said that now then

07:23it could be a good job for you as well but i will keep you guys updated on this and maybe i'll have

07:26some more like telltale signs in the future and finally my life update my big move to new york city

07:34update so i was recently notified that my in-person start date aka when i actually have to be in the

07:39office in new york in person that got pushed back until june at the earliest because of the pandemic so i

07:45will still be starting my job mid-april april 16th i think it is but i'm delaying my actual move to new

07:50york city and will be starting remotely so look forward to a video very soon where i kind of

07:55work from homeify my bedroom i'm gonna build a desk and add some light fixtures and just make it a

08:00little more suitable for work so stay tuned for that that'll be my first like diy video so should

08:05be fun all right guys in the comments let me know what your very first full-time job was i asked you

08:09guys this over on instagram as well a few days ago and i really loved reading your responses there was

08:14like a wide range of different jobs i thought it was really interesting so let me know in the comments

08:17what your first full-time job was and i hope you enjoyed hearing a little bit more about consulting

08:22as always any questions comments concerns stuff like that just leave them in the comments below i

08:26will be answering and thank you guys so much for watching as always i will see you very soon in the

08:30next one bye what is up guys that was aggressive

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