Welcome Professionals…

…I know, many of us chose the profession of a top management consultant for the high variety of topics the job provides. There is hardly one project like the other. Many young graduates join consulting to see a variety of industries and like to work as a generalist in the beginning. I was the same when I started.

However, it is so hard getting started without any specialization. In fact, I think the only way to get a grip in business is through radical focus and specialization. Finding a topic, a niche industry, a special craft that is key to establish a standing as an expert. Then, when you have built the expertise and your personal brand, there will come opportunities to branch out and widen the focus bit by bit.

I was talking this week to a consultant who is trying to do business development across various industries. She was tackling IT, private banking, industrial goods, consumer goods and retail and medical technology – all at the same time! What’s more, she distributed her efforts across many geographies from Europe to Middle East. This is a very obvious example of wasted energy. And I am not blaming this person – she knew exactly what went wrong and decided to focus in the future.

It may be hard in the beginning to choose something and leave so many other interesting choices untapped. In a world of unlimited opportunities, we all suffer form FoMO – fear of missing out. The good thing is, it does not matter so much what we pick. Once we have mastered this area, we will get to diversify from there. To make a dent, we clearly must keep our focus.

Stay focused,

Malte

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