No Return Without Any Risk
No Return Without Any Risk
January 13, 2022
Interviewer

Interviewee

Etsuro Sumita
Berkeley Consulting Inc.President and Representative Director


Etsuro Sumita
The idea is to consider that if you continue your current job, your income may keep rising. While consultant salaries are increasing, the actual skills of consultants might not be. For instance, a 55-year-old consultant and a 40-year-old consultant may have similar capabilities, but the older one gets paid more until around age 59. After 60, the salary drops due to retirement age. This means they're not compensated for their abilities. I aim to cultivate individuals with skills in a dynamic field, ensuring long-term market value. Specializing in just one industry or topic poses a significant risk. If you lose your job in that industry, you may face limitations. In the past, specialists were valued, but today, being able to do only one thing is becoming obsolete.

Well, that is true... So what do you suggest consultants do in the future?

Etsuro Sumita
It's not only about consultants, I feel that it applies to me as well. Just because SFIDAX succeeded in the web industry doesn't mean the web industry will stay the same 20 or 30 years from now. With the rise of AI and the rapid pace of this industry, I don't believe that doing what we're doing now will be enough. That's why we started the development business at STYLE FREE. Similarly, the engineering industry won't have the same structure 20 or 30 years from now. So, we're not just following the current path but also venturing into completely unknown territories. Now, stepping into the consulting industry, there are some peculiar aspects, and I've decided to delve into this industry because there's something off about it. Consultants need to challenge not only the current industry and themes but also embrace new endeavors. This holds the key to success, and it doesn't necessarily have to be confined to consulting work. I believe success lies not with critics, but with those who actively embrace new challenges. Continuing to excel in your current role within your learned industry may not be difficult, but it could lead to a decline in your market value over time. Honestly, in society, many people experience a decline in productivity as they age. The opportunities for part-time jobs differ significantly between those in their 20s and 50s. No one wants to age, right? Therefore, by consistently taking actions to enhance your market value, you can eventually achieve financial success, though I don't believe it will be an enormous amount. Many individuals may boast about their prestigious titles at large companies, but once revealed, they may struggle to find employment elsewhere. I also have doubts about the significance of titles within the consulting industry.

...Doubts about the title in the consulting industry?

Etsuro Sumita
Definitely. Japanese people place a significant emphasis on titles, but personally, I don't see the obsession with them. I believe titles aren't solely earned through hard work but are connected to one's abilities. Hence, titles are not particularly relevant. In essence, individuals with high abilities should hold appropriate positions. With this mindset, I aim to bring about a change in the consulting industry and, more broadly, in Japanese corporate culture, at least within my own company. I plan to assign more responsibilities to those who contribute significantly, irrespective of their titles. It wouldn't be surprising if someone, having surpassed all titles, suddenly becomes a director. Well, the individual who delivers the most results and supports the company will earn that role. Members who focus on contributing to the company rather than competing for titles are truly commendable. Furthermore, it's crucial to view work as work and money as money.

What do you mean by work for work and money for money?

Etsuro Sumita
Working enhances its own capabilities and yields outcomes—put simply. However, generating results is a challenging task, demanding a considerable amount of strength. The failure to initiate a business often stems from a lack of power rather than a lack of ability. Professionals leverage substantial power to achieve success, and many find it to be their life's work or a worthwhile pursuit. Conversely, those unwilling to produce results are unlikely to possess the ability to do so. This, I believe, encapsulates the essence of work, making it an inherently fascinating endeavor.

Certainly…

Etsuro Sumita
Right? So, in the era that is unfolding, or rather, has already begun, it's crucial for even young individuals to engage in investments. No, precisely because you are young, you should invest. And investing is also a form of learning. I often talk about this mindset to young people.Work is to improve one's ability to make the world a better place, and investment is to help one's own life and those around them. To excel in work, one needs foresight, a commitment to continuous learning and growth, and the willingness to invest time and effort in order to succeed. Both learning and success hinge on the ability to anticipate future trends. Those who merely stick to their current tasks without exploring new avenues may find it challenging to invest in their professional development. In the realm of investments, rewards come with risks. The key is to assess how much risk you're willing to embrace. It's crucial to envision your future in the workplace, comprehend the associated risks, and boldly tackle challenges to reap the rewards.
What are the risks for consultants in high-income industries?