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Family Business into Consultancy

 
forum comment
#0 Family Business into Consultancy
 
Hessam Badamchi
18.11.6 00:00
 
Hi,I have been working in the family business for the past 10 years, and although it is a great business, making good money, but I don't want to spend my future in it. I have my BEng, MSc, and MBA. How do Management Consultancies see this profiel? What can be a good entry strategy for some one like me? Advise will be greatly appreciated.ThanksHessam.
 
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#0 RE: Family Business into Consultancy
 
Boxershorts
19.11.6 00:00
 
Hi Hessam,I think you're profile is about more than your qualifications. Bachelors and two Masters degrees shows a certain amount of academic aptitude, sure, but I'd be equally interested in your work experience. You say ten years with the business. What type of business? What industry. What was your role/roles? Since you have an MBA, how involved were you at the sharp end of managing the family business?Suggest you decide what you want to do in MC. Then find out who the players are in that space that work for you (personally, ethos, geography, work-life, pay, prospects, etc.) Then pull out those aspects of your profile that are likely to appeal to a firm in that context as the essence of your application strategy.Tactically, direct approach or contact at an industry fair or open day might be the way. You are not at the grad level, so that avenue is probably not suitable. At your potential level, it's probably got to be the personal route, so get networking!
 
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#0 RE: RE: Family Business into Consultancy
 
Hessam Badamchi
20.11.6 00:00
 
Hey Boxer,Thanks for your reply. I am currently operations director. I get to set budgets, control sales, and appraise company performance. I also get to do the day to day operations.I guess you are right about networking. Just don't know where to start from. Fairs, and events are good places, but what other sources are available.I am also mainly interested in Strategy.Hessam.
 
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#0 RE: RE: RE: Family Business into Consultancy
 
Boxershorts
20.11.6 00:00
 
Hessam,Glad to have helped. For networking, there are a number of business forums you could join, both real and on the web (IOD, BusinessLink, LinkedIn, etc.) that may help. Suggest you check some of these out, as they get varying types of people and, consequently, have different atmospheres. Try and gather some info about them, check out reviews / assessments, but in the end, you have to decide if it's one that'll work for you. That means trying it out yourself.Probably the face-to-face networking option is best, though there's a lot to be said for virtual networking, as it vastly expands your profile footprint (geographically).The last thing I'd suggest is checking back with the careers officer / alumni network where you did your MBA. Bound to be some folks you know there who could give you a steer or put you in touch with some people. Much of the value from an MBA is the people you get to meet while doing it, after all.The move from Ops to Strat is not easy, but it can be done. In fact, having the grounding in the real pragmatic running of the business from the Operations side may well stand you in good stead in terms of evaluating strategic options and developing realistic strategies.Good luck.
 
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#0 RE: RE: RE: RE: Family Business into Consultancy
 
Hessam Badamchi
21.11.6 00:00
 
Thanks for the help Boxer. All your suggestions are duly noted.Take CaresHessam.
 
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#0 RE: RE: RE: RE: RE: Family Business into Consultancy
 
BM
21.11.6 00:00
 
To make a transition from operations to strategy you might like to try A.T. Kearney. They are a strat house that does get involved in Ops.Hope that helps. Good Luck
 
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#0 RE: RE: RE: RE: RE: RE: Family Business into Consultancy
 
charles
22.11.6 00:00
 
I am in a very similar position, just wondered how you were getting on finding a job. i would be very interested to hear how you were fairing and what routes had been useful. What part of the country are you looking for work?
 
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#0 RE: RE: RE: RE: RE: RE: RE: Family Business into Consultancy
 
Hessam Badamchi
23.11.6 00:00
 
Hi Charles,I haven't had much luck so far. I have actually applied to A T Kearny. I had noticed the same thing BM has implied, but got rejected.It's not easy at all. Networking for some one who has been in operations for a long time probably gives the best luck, given ambitions for strategy.Probably one approach might be to consult on operations, just to get the feet in, and then try to swith functions. Like BM said, then houses that have both strategy and operations would probably be best choices (AT Kearnye, PA, Cap Gemeni, Accenture, IBM). Alternatively, you might do the same thing through project management but these houses are very niche and boutiques.I actually work in the Middle East (Iran). Our operations are of good size, but definetely do not replace blue chip experience. So we have to promote ourselves as entrepreneurs, who have helped to grow family business, know how to work in and lead teams. Our involvement in strategy, as was mine, is usually business unit leve, where profitability and cash flow is major metrics. You have to be able to show how you have analyzed your market, done SWOT and managed strategic directrions. You also have to be very specific why you are leaving family business, sometimes it gives bad indications on your part for commitment. My reasons are personal ambitions, the need to work in more dynamic environments, and I always have a good reason that Iran is not as good of place to live in and raise a family as the UK would be. These topics come up in interviews. Also, don't forget as members of family business we are expected to lead without really having experience. YOu must present your operation as one that does not make favours (mine did not). You have been promoted because you deserved it, so if you are a managing director at the age of 28 years in the business, you are either brillian (and must show it) or your promotions should be scrutunized. I hope I have helped. Please let me know if we can still exchange ideas.Good LuckHessam.
 
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