In this year-end special, our experienced consultants share their personal triumphs, challenges, and lessons learned from the past year. Join us as we delve into the ups and downs of the consulting life and explore insights on adapting to change, maintaining work-life balance, and navigating ethical dilemmas in an ever-evolving industry.

Key Highlights:

• Chris had a major health event (double pulmonary embolisms) in October after 15+ years of constant business travel, which made him realize the grind and sacrifices of the consulting lifestyle (00:05:47 – 00:07:32)
• As senior consultants, they feel a responsibility to guide and nurture the next generation coming into the industry (00:12:32 – 00:13:02)
• Phil expanded his Tech After Five networking events to Bangalore, India this year which exceeded expectations. He plans to expand to more Indian cities in the coming year. (00:13:33 – 00:20:11)
• A key lesson Bill learned this year building his startup is having to solve secondary and tertiary market problems in order to solve the primary problem he’s focused on (00:22:58 – 00:25:04)
• Bill believes the consulting industry needs to adapt to a more probabilistic environment rather than always seeking deterministic plans and outcomes (00:25:32 – 00:26:16)
• Shashi shared insights on how to best manage and motivate the new generation of young consultants who have different working styles and expectations than previous generations (00:34:11 – 00:35:08)
• Phil raised the concerning issue of consultants needing clearer ethical frameworks for handling situations where they are asked to do something questionable (00:42:02 – 00:45:45)
• The group discussed the risks of getting caught up in the consulting “rat race” and how to avoid that trap, especially early in one’s career (00:52:37 – 00:57:11)

9 Takeaways:

1. Chris’ harrowing experience with pulmonary embolisms highlighted the potential health risks associated with the demanding consulting lifestyle, emphasizing the importance of prioritizing personal well-being.
2. Phil’s successful expansion of Tech After Five networking events to Bangalore, India, demonstrates the potential for global growth and the adaptability of his business model to new markets.
3. Bill’s key learning from his startup experience is the necessity of addressing secondary and tertiary market problems to effectively solve the primary challenge at hand.
4. The consulting industry must evolve to embrace a more probabilistic approach, moving away from purely deterministic plans and outcomes, to remain relevant and effective in an increasingly uncertain business environment.
5. Shashi emphasized the importance of understanding and adapting to the unique working styles and expectations of the new generation of consultants to ensure effective management and motivation.
6. The development of clear ethical frameworks is crucial for consultants to navigate situations where they may be asked to engage in questionable practices, maintaining their integrity and professionalism.
7. The group discussed the risks of getting caught up in the consulting “rat race” and the importance of making conscious decisions to avoid burnout and maintain a healthy work-life balance.
8. Shashi shared his personal growth in recognizing the value of spending quality time with his daughter, highlighting the significance of cherishing family and personal relationships amidst a demanding career.
9. The conversation underscored the responsibility of senior consultants to guide and nurture the next generation of talent, ensuring the long-term success and sustainability of the consulting industry.

Check out the Audio-only version of this episode!
Episode 12 – Audio Only