As new trends inevitably develop, consultants may find ample opportunities to help people by finding a niche in ever changing technology and new social trends.
Throughout the decades, consultants have always had to align themselves with the demands of clients. Offering expertise in particular specialties was always a way to increase the odds of acquiring and retaining clients. Searching for a niche within consulting services is not a new tactic. Even in previous decades, books on consulting suggested that finding a niche is beneficial. Such books include Consulting: The Complete Guide to a Profitable Career written by Robert E. Kelley in the 1980s. The book contained a section that highlighted how having a market niche was important, explaining how to identify a growing market and price accordingly. Today, a multitude of business articles are describing the high demand niches that are available for skilled consultants.
Popular Consulting Niches
So what are popular niches for consulting firms and individual consultants currently? Below are highlights of some modern day consulting niches:
The Wall Street Journal has profiled the growing niches of financial consulting. Seen as being part of a business growth strategy, more financial advisers are choosing narrow specialties or catering to specific types of clients. Such tactics include focusing on particular groups, like hockey players or other “theme” clients like female entrepreneurs.
Marketing to Millenials also can be a business niche, according to The Balance. As this generation is the largest age cohort in the United States, marketers are eager for experts to help in reaching them. Even cities are eager to attract Millennials to live within their areas, so officials are seeking advice from seasoned professionals within this market.
Zintro profiled environmental science as a growing niche for consultants to consider. This specialty can help businesses to analyze the environmental effects of their daily operations. Industries that may seek these types of consultants include city planners and utility companies, as well as transportation companies.
With varying states legalizing marijuana, new cannabis businesses are seeking direction from skilled consultants. Such professionals can provide guidance regarding staying within legal compliance as well as banking/financial advice.
Something as specific as Brexit consulting is in demand now, according to Economia. UK businesses seek to be aware of the economic and legal consequences of this event, so consultants are actively being hired. Employers are also nervous about a potential skills shortage in the UK, so they are turning to consultants to help them manage this potential effect.
Even the process of filling out college applications has a pool of skilled consultants that are available to help an increasingly growing market. The Independent Educational Consultants Association (IECA) notes that the growth of this niche has especially accelerated within the last five years. They report that over a quarter of high achieving seniors’ families are now hiring college entry consultants, according to a study.
Conclusion
As new trends inevitably develop, consultants are likely to similarly evolve and pivot in order to meet the needs of clients. A consultant may find ample opportunities to help people by finding a niche in ever changing technology and new social trends.
Want to find out more? Click here to check out our top 5 consulting trends for 2023.
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