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

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7: English-speaking offices

7: English-speaking offices

Aspiring consultants typically struggle at this selection and arrive at the wrong strategy. When you live in a country with just one BBM office, like most countries, how do you select a 2nd, 3rd or 4th choice? How many options do you realistically have and how do you size them up? Are the UAE and Singapore your only options? This podcast addresses these issues.

22 Apr 201114min

6: Advice on speaking like a consultant

6: Advice on speaking like a consultant

If you read forums worldwide everyone is obsessed with cracking the case. Yet, most people cannot communicate like a consultant. We hope by reading this post, candidates spend an equal, if not more, time focusing on their communication skills as well. If you cannot speak like a consultant, you cannot be a consultant.

16 Apr 201116min

5: Families and McKinsey

5: Families and McKinsey

No one will say this, but you should not be planning a family in the formative/early years of McKinsey or BCG. While firms go to great lengths to extol the virtues of their family friendly cultures, at the end of the day, the numbers say otherwise. It is very difficult to balance family demands and the pressures of a McKinsey engagement. It is best to select phases in your life, and early in you career, focus on career building. Related: - The Consulting offer 2: The Challenges of A Chinese female PhD Purusing Consulting - Quarterly Article: Why there are so few female management consulting partners

10 Apr 201116min

4: Anatomy of a McKinsey Networking Event

4: Anatomy of a McKinsey Networking Event

The most important piece of feedback for a McKinsey, BCG et al networking event is to do nothing. You actually want to draw as little attention to yourself as possible. Networking events are really formats where consulting firms market themselves. There are obviously exceptions, but rarely is this going to be a moment for you to market yourself. For one, there is too much happening around you and you will almost never get an opportunity to dazzle anyone. Related: The Consulting Offer season 2, Episode 1 Partner Networking and Resume Feedback Quarterly article: Networking with Management Consulting Partners

4 Apr 201120min

3: McKinsey and BCG Networking

3: McKinsey and BCG Networking

Unless you have a stellar resume and profile, you will likely need to do some form of networking to secure an interview. Most aspiring consultants cannot network and treat networking as a "tick-the-box" set of coffee chats and phone discussions. Related: The Consulting Offer season 1, Partner Networking Emails

29 Mars 201117min

2: Screening McKinsey Resumes

2: Screening McKinsey Resumes

This podcast introduces and discusses the steps firms like McKinsey use to screen and review resumes. Consulting firms and recruiters essentially look for five things: 1 Your school 2 Grades at school 3 Stature of employers 4 Achievements at work 5 Personal experience

23 Mars 201120min

1: Importance of GMAT Scores

1: Importance of GMAT Scores

This podcast answers the following reader question on GMAT scores and their relevance versus GPA scores when applying to consulting firms.

17 Mars 201122min

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