5: Families and McKinsey

At least 90% of aspiring management consultants assume that all McKinsey et al cases MUST be solved with frameworks. That is a dangerous myth. At least 60% of all McKinsey full cases (we are not referring to brainstorming, estimates, etc) cannot be solved with structures and you will fail if you used structures to solve them. In this podcast, we use the experiences of a client, Felix, to explain how to identify this second group of cases and what you can do to solve them. We particularly look at Felix's coaching session with Kevin Coyne, ex-McKinsey Worldwide Strategy Co-Leader, in Season One of The Consulting Offer.   Here are some free gifts for you:   Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

24 Helmi 11min

For this episode, let's revisit a Case Interview & Management Consulting classic where we talk about important case interview elements to consider.   Analyzing customers, competitors and the market: 3 areas which must always be considered in cases, even when it is not clear why. In essence, all businesses exist to serve customers. A business cannot exist without customers and to understand demand you must understand customers. The ability to meet demand is impacted by competitors/substitutes and market barriers like legislation, inflation etc. Therefore, these three areas must be analyzed in cases where demand may be an issue.   Here are some free gifts for you:   Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

19 Helmi 9min

For this episode, let's revisit a Case Interview & Management Consulting classic where we talk about brainstorming with definitions.   Brainstorming is very difficult and a crucial skill to have when solving cases, especially with McKinsey where the interviewer will constantly ask you to probe and brainstorm different areas of the case. This podcast examines the initial parts of the brainstorming structure. Since brainstorming happens in such a rapid-fire format and appears unstructured, the speed at which it is done creates the illusion it lacks structures. Yet, it does have structure, but is merely done very quickly in the candidate's mind. This podcast will teach candidates how to generate a structure/definition that can be used to guide the development of options or paths in the brainstorm.   Here are some free gifts for you:   Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

17 Helmi 5min

For this episode, let's revisit a Case Interview & Management Consulting classic where we talk about the importance of you, the candidate, never ever giving the interviewer the benefit of the doubt, why this is vital, how to do this in a case and the improvement it will immediately deliver. The main value of adopting this mindset is that you tend to explain everything to the interviewer because you assume he is not aware of all the answers. If you enter an interview, assuming the interview is "perfect", you will tend to make assumptions which hurt your chances and damage your image.   Here are some free gifts for you:   Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

12 Helmi 8min

Reading graphs is a perennial problem for many candidates. Yet, the problem is not the interpretation of the graphical data itself. Rather, it is knowing what to do with that data once you have interpreted it. This podcast introduces a simple 4-step process we introduced for a Yale doctoral client, Felix, and a technique called the One-Sentence-Test which we again developed for the same client. The improvement in her answers warrants sharing this technique. You can see Felix's Improvement in Season One of The Consulting Offer.   Here are some free gifts for you:   Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

10 Helmi 13min

Far too many candidates demonstrate poor knowledge of consulting by insisting that they want to work for McKinsey strategy and not operations or BTO. This is a flawed strategy which will only hurt their chances in the short, medium and long-term. This podcast explains why and how to compensate for this misunderstanding.   Here are some free gifts for you:   Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

5 Helmi 10min

You have been brainwashed by every single forum and case book to assume that McKinsey wants a framework and set of hypotheses, that you have stopped listening as carefully to the interviewer and simply providing hypotheses even when the interview is not asking for them!   Here are some free gifts for you:   Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

3 Helmi 9min

For this episode, let's revisit a Case Interview & Management Consulting classic where we discuss consulting firm's training.   Too often clients ask the wrong questions when it comes to assessing training at consulting firms: do smaller offices have poorer training, should I attend training as soon as I join, does BCG have better training than Bain etc. When considering training you need to both consider formal and informal training. As we show, formal training is very useful, but not at all for the hard/technical skills it purports to impart on attendees. Informal training, also known as training on an engagement, is most effective when consultants can practice under diverse conditions. In other words, the more you travel and work with foreign teams, the better will be your training. Some firms encourage more global staffing and others far less. That counts.   Here are some free gifts for you:   Overall Approach Used in Well-Managed Strategy Studies free download: www.firmsconsulting.com/OverallApproach   McKinsey & BCG winning resume free download: www.firmsconsulting.com/resumepdf   Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo

29 Tammi 13min