495: Setting up scale: How to avoid voltage drop (with John A. List)

495: Setting up scale: How to avoid voltage drop (with John A. List)

Welcome to an episode with a highly regarded economist and best-selling author, John A. List. Get John's book here: https://amzn.to/3BDlHzj

In this episode, John defined scaling – an overused yet often confused word in the startup world today – and elaborated the term. He also spoke about the voltage effect and how it relates to scaling. The discussion revolved around the five vital signs that every scalable idea must possess to avoid voltage drops and gave numerous realistic examples to help us visualize each sign. John also shared the top things that we must keep in mind when making decisions related to scaling.

Professor John A. List is the Kenneth C. Griffin Distinguished Service Professor in Economics at the University of Chicago. His research focuses on combining field experiments with economic theory to deepen our understanding of the economic science.

In the early 1990s, List pioneered field experiments as a methodology for testing behavioral theories and learning about behavioral principles that are shared across different domains. He co-authored the international best seller, The Why Axis, in 2013.

List was elected a Member of the American Academy of Arts and Sciences in 2011, and a Fellow of the Econometric Society in 2015. List received the 2010 Kenneth Galbraith Award, the 2008 Arrow Prize for Senior Economists for his research in behavioral economics in the field, and was the 2012 Yrjo Jahnsson Lecture Prize recipient. He is a current Editor of the Journal of Political Economy.

Get John's book here:

The Voltage Effect: How to Make Good Ideas Great and Great Ideas Scale. John A. List: https://amzn.to/3BDlHzj

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

Episoder(817)

237: Taking Leadership as an Associate

237: Taking Leadership as an Associate

It is a myth to assume that you are automatically awarded leadership roles as a bright associate or consultant. Competition for these roles are fierce, assuming you get it, and being "awarded" a role is far less useful than having earned the role in the eyes of your peers. In the latter, teams follow you because they choose too. In this podcast I will outline a technique I used throughout my career to find "rules" which could be broken to take control of engagements and earn the trust of peers and teams.

15 Jan 201520min

236: What is a Good Consulting Mentee?

236: What is a Good Consulting Mentee?

What can Darth Vader from Star Wars and monkeys in Africa teach you about effective mentoring? This podcast touches on those things which define a good mentee both in management consulting and for clients seeking a consulting career. The podcast describes the attributes of both an effective mentee and mentor, and the typical behavior of a "good" and "bad" mentee. Surprisingly, a good mentee should actually give you a small headache.

9 Jan 201524min

235: How Age Impacts Consultants and Applicants

235: How Age Impacts Consultants and Applicants

Having spent a large part of my consulting career in my twenties, since I joined the Firm just shy of my 22 birthday, I personally know what it was like to successfully manage a young image. I was generally the youngest analyst, associate or engagement manager on a team, and a very young principal leading teams. I recall several times managing teams where the youngest person was older than myself. Those kinds of situations invariably raise challenges in controlling one's image and client perceptions. In this podcast, I outline 7 things which can be done to control ageism, and begin by defining how younger and older consultants differ in the signals they send.

3 Jan 201527min

234: The Role of Your Significant Other

234: The Role of Your Significant Other

One oversight we have corrected as we have learned more about our clients, is to understand the role their significant others play in their lives and decisions. We tend to assume that the advice we provide, and actions you take, are largely influenced solely by your wishes. That could not be further from the truth. In some ways, your significant other is a major investor and she/he can cause a lot of problems if you take actions not in keeping with his/her wishes. This interesting podcast, examines the decisions of our youngest client and how we helped her understand the implications of her personal choices as she prepares to join McKinsey.

28 Des 201430min

233: Racial Prejudices in Management Consulting

233: Racial Prejudices in Management Consulting

The issue of gender disparities and the increasing African-American ratios in management consulting firms have rightly become important issues. Yet, the latter is a frighteningly narrow interpretation of racial prejudices.

22 Des 201447min

232: McKinsey Paris: Debrief Call After Sasha's Offer

232: McKinsey Paris: Debrief Call After Sasha's Offer

Our client, Sasha recently received an offer from McKinsey Paris for the Operations Practice. This is the third podcast of a series of three interviews with him.

16 Des 201446min

231: McKinsey Paris: Second Coaching of Sasha

231: McKinsey Paris: Second Coaching of Sasha

Our client, Sasha recently received an offer from McKinsey Paris for the Operations Practice. This is the second podcast of a series of three interviews with him.

10 Des 201444min

230: McKinsey Paris: First Coaching of Sasha

230: McKinsey Paris: First Coaching of Sasha

Our client, Sasha recently received an offer from McKinsey Paris for the Operations Practice. This is the first podcast of a series of three interviews with him.

4 Des 201446min

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