Consulting Magazine - November 2017

On

Many consultants cringe on the inside when others refer to them as a contractor. On the surface, many think there is little difference between the two. Both roles are brought in from outside of the organization to solve a problem. However, there is a big difference between bringing in a consultant as compared to bringing in a contractor.

Consulting is often a mystified profession because of portrayals in popular media and movies. In reality, consulting is one of the four most desired career paths chosen by MBA students out of top graduate schools throughout the United States (the other three being venture capital, hedge funds, and private equity).

Consultants are trained to analyze problems and bring an intelligent and strategic approach to solving them. In a sense, consultants are hired for their brains, their experiences, and their opinions. On the other hand, contractors are brought in to accomplish a specific problem with a narrow scope.. In other words, a consultant helps to think holistically while a contractor does the task in front of him. For instance, if you want to redecorate a room, do you hire a contractor to hang curtains or do you look for an interior decorator to give you a cohesive plan?.

ABILITY TO STRATEGIZE

Consultants are known for their brains, it’s why they
get hired. A consultant will help strategize for the future
whereas a contractor is simply brought in to complete a
job. Consultants are experts in helping companies tran-
sition or recover from a critical event, such as the loss of
market share or an acquisition. Consultants bring fresh
eyes and proven strategies to complex issues. A consult-
ant has the ability
to see all the mov-
ing parts and cali-
brate them to help
put, or keep, your
business on the
right track. On the
other hand, con-
tractors are usually
hired to fill gaps
and complete tasks.
They aren’t there to
look at the big pic-
ture and strategize
for a better future.

ACCELERATE SOLUTIONS

When businesses find their wheels spinning, they don’t need more bodies in seats to complete tasks. They need someone who will add meaningful value at a rapid pace. Nothing helps accelerate the decision making process quite like hiring a consultant. Consultants push solutions into practice. A contractor may offer solutions, but they don’t accelerate change like a consultant. When you want to win the Indy 500, you need a good driver, true, but more importantly you need a crew chief who can design a well-oiled operation focused on winning the race. Contractors might be able to serve on the crew, but consultants are the expert crew chiefs who study the problems and implement solutions so the crew and driver stay ahead.