5 Management Consulting Business Success Stories [2024]

Updated: November 19th, 2023
Start A Management Consulting Business

Management consulting helps organizations improve performance by developing strategies to solve issues, create value, and maximize growth. A management consultant deploys his skills in providing objective advice and expertise to help organizations develop skills they may lack.

The management consultant is primarily concerned with the company's strategy, structure, management, and operations.

The role of a management consultant is to review operations and identify options for the organization and suggest recommendations for change, as well as advise on additional resources. Management consulting offers the flexibility of working as a full-time employee, a self-employed professional, or a contractual consultant.

To become a management consultant, complete a relevant degree program and work as an intern to gain experience so you can discharge your duties confidently.

Here are some real life success stories of starting a management consulting business:

1. BizzBee Solutions ($312K/year)

Dancho Dimkov, the founder of BizzBee Solutions, came up with the idea for his business after realizing that freelancing was not a sustainable long-term option. He decided to start his own company that specialized in LinkedIn and email outreach, offering B2B lead generation and sales process services to software providers, high-ticket service providers, consultants, and agencies. Through building meaningful relationships and providing valuable solutions to clients, BizzBee has grown to serve over 400 clients globally in just 5 years.

How much they make: $312K/year
How much did it cost to start: $4.25K
Current team size: 26


How I Use Linkedin To Grow My $18K/Month Outbound Growth Services Business

BizzBee Solutions, a LinkedIn and email outreach specialist, grew from 2 to 20+ employees in just 12 months, serving 400+ clients globally, after switching from being generalists to specialists in outreach for high-ticket service providers, agencies, software development companies, and consultants.

Dancho started BizzBee Solutions about 9 years ago
Dancho grew the business to $26K/month
It cost Dancho $4250 to start the business
Read by 5,023 founders

2. Product Lab ($104K/year)

Long, the founder of Product Lab, came up with the idea for his business after realizing that many startup founders in Vietnam lacked a product mindset. With his co-founders Thinh, Boris, and Ben, who are experts in product development and management, they established Product Lab to provide consulting and training services in digital product management. Despite the challenges of being the first player in the market and a limited budget, Product Lab has achieved impressive milestones, such as being sponsored by Techfest 2020, working with big corporations like Vinpearl and Vinfast, and hosting a webinar with BUV during the COVID-19 pandemic.

How much they make: $104K/year
How much did it cost to start: $5K
Current team size: 2


How We Started A $104K/Year Digital Product Management Consultancy Firm [Vietnam]

Product Lab is a digital product management consulting company in Vietnam that offers consulting and training services and is the pioneer in digital product management consulting in the country.

Long started Product Lab about 4 years ago
Long grew the business to $8.7K/month
It cost Long $5000 to start the business
Read by 2,346 founders

So... can you actually make money with a management consulting business?

Of course. There are millions to be made in this industry.

But how?

  1. Research real, profitable businesses and see exactly how much money they make.
  2. Study exactly what works, and what doesn’t.
  3. Take action, because now you have the roadmap.

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3. Assuras ($5.2M/year)

Tyler King, the serial entrepreneur and CEO of Assuras, came up with the idea for his consulting firm through his previous ventures in technology and executive coaching. He combined his learnings from engaging with leaders in his prior venture and his education from leading institutions to form Assuras, a global management consulting firm that takes on complex challenges and provides impactful solutions for its clients. With a focus on cross-functional teams and innovative approaches, Assuras has tripled its market share within its first two years.

How much they make: $5.2M/year
How much did it cost to start: $1.2M
Current team size: 27


How I Started A Consulting Firm And Make $5M/Year

Assuras, a global management consulting firm that focuses on solving impactful challenges for growth-stage companies with 500-2000 employees, successfully tripled their market share in their initial two years from inception by building cross-functional, diverse teams that provide alternative ways of looking at problems and offering risk-free consulting and action plans with clients who commit to implementing their recommendations.

Tyler started Assuras over 5 years ago
Tyler grew the business to $433K/month
It cost Tyler $1200000 to start the business
Read by 1,878 founders