641: Former Bain & Company Director Michael Farmer — Differences Between McKinsey, Bain and BCG, Strategy Consulting, Helping Ad Agencies and Their Clients Navigate Change  (Strategy Skills classics)

641: Former Bain & Company Director Michael Farmer — Differences Between McKinsey, Bain and BCG, Strategy Consulting, Helping Ad Agencies and Their Clients Navigate Change (Strategy Skills classics)

In this episode, let's revisit a Strategy Skills classic interview with the author of Madison Avenue Makeover: The Transformation of Huge and the Redefinition of the Ad Agency Business, Michael Farmer. He also wrote the award-winning Madison Avenue Manslaughter, an inside view of fee-cutting clients, profit-hungry owners, and declining ad agencies (Third Edition, 2019).

In this episode, Michael speaks about the time he worked for McKinsey, Bain, and BCG, and the differences between the three consulting firms. He also shared his advice for those aspiring to build their consulting firm and discussed the technique that helped him write his first book, Madison Avenue Manslaughter. Finally, Michael shared his experience of helping in the Transformation of a Creative Ad Agency (Huge).

Michael Farmer is Chairman and CEO of Farmer & Company LLC, a strategy consulting firm for advertisers and agencies. He also serves as Professor of Branding and Integrated Communications at The City College of New York (CCNY). He has an MBA from Harvard Business School and was previously a Director of Bain & Company.

Connect with Michael here: https://www.farmerandco.com/

Get Michael's book here: https://www.amazon.com/Madison-Avenue-Makeover-transformation-redefinition/dp/1911687646

Madison Avenue Makeover: The Transformation of Huge and the Redefinition of the Ad Agency Business. Michael Farmer.

Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

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623: Bain's Rishi Dave, the Secret of Top Sellers (Strategy Skills classics)

623: Bain's Rishi Dave, the Secret of Top Sellers (Strategy Skills classics)

In this episode with Rishi Dave, a partner in Bain's Commercial Excellence practice with deep expertise in B2B marketing and digital marketing, he explains the concept of a "Day 1 List" in B2B sales a...

28 Tammi 56min

622: Leadership and Self-Deception with Arbinger Managing Partner, Mitch Warner (Strategy Skills classics)

622: Leadership and Self-Deception with Arbinger Managing Partner, Mitch Warner (Strategy Skills classics)

In this episode, we dive deep into the critical topic of self-deception and its profound impact on leadership and personal effectiveness. Mitch shares powerful insights on how self-deception can under...

26 Tammi 56min

621: Business Longevity Principles from Immigrant Entrepreneurs (with University of Oxford's Neri Karra Sillaman)

621: Business Longevity Principles from Immigrant Entrepreneurs (with University of Oxford's Neri Karra Sillaman)

Neri Karra Sillaman, entrepreneurship advisor at the University of Oxford and author of Pioneers: Eight Principles of Business Longevity from Immigrant Entrepreneurs, discusses why immigrant-founded c...

21 Tammi 43min

620: Former McKinsey partner on How to Turn a Profit and Improve Lives in the World's Toughest Places (Strategy Skills classics)

620: Former McKinsey partner on How to Turn a Profit and Improve Lives in the World's Toughest Places (Strategy Skills classics)

This episode examines what happens when strategy is applied in environments where institutional stability, reliable data, and conventional partners cannot be assumed. Former McKinsey partner and Unive...

19 Tammi 50min

619: Founder of McKinsey's Strategy and Corporate Finance Insights Team on Measuring and Managing the Value of Companies (Strategy Skills classics)

619: Founder of McKinsey's Strategy and Corporate Finance Insights Team on Measuring and Managing the Value of Companies (Strategy Skills classics)

In this episode, Tim Koller, co-author of Valuation and a leading authority on corporate finance, offers a substantive examination of capital allocation decisions under real-world constraints. The dis...

14 Tammi 49min

618: Rethinking Capitalism, Innovation, AI, and the American Dream (with Elizabeth McBride and Seth Levine)

618: Rethinking Capitalism, Innovation, AI, and the American Dream (with Elizabeth McBride and Seth Levine)

Elizabeth McBride and Seth Levine return to discuss the ideas behind their book Capital Evolution and the shifts they see across capitalism, innovation, and work. They describe conversations with youn...

12 Tammi 48min

617: Inc 5000 fastest growing company on Psychology behind leadership influence and human behavior (with MichaelAaron Flicker)

617: Inc 5000 fastest growing company on Psychology behind leadership influence and human behavior (with MichaelAaron Flicker)

Michael explains that people often struggle because "adding and adding must be more effective," yet humans are "more confident when just one advantage is presented." He shares that Five Guys succeeded...

7 Tammi 53min

616: NYU Stern's Prof on How AI Is Rewriting the Future of Work (with Ben Zweig)

616: NYU Stern's Prof on How AI Is Rewriting the Future of Work (with Ben Zweig)

When most executives discuss AI, they focus on automation. Dr. Ben Zweig, NYU Stern professor and CEO of Revelio Labs, explains why the real disruption isn't machines replacing people, it's our failur...

5 Tammi 52min

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