533: Starting a business from scratch (with Jeff Lerner)

Hi, everyone. This is Monday Morning 8 a.m., a newsletter that goes out—as you guessed it—every Monday. You can listen to the audio version of this Monday Morning 8 a.m. episode by searching "Strategy Skills" in any podcast app! And you can get written version with relevant links to articles when you sign up on www.firmsconsulting.com/promo (it's free). In this newsletter, we have one goal: to help you distill the insights from the noise out there. So here are the big themes we're noticing in the news this week and the deep insights you should be extracting from those themes.

2 Nov 202030min

Hi, everyone. This is Monday Morning 8 a.m., an audio version of a newsletter that goes out—as you guessed it—every Monday. You can listen to the audio version of this Monday Morning 8 a.m. episode or sign up for a written version, with links to articles Michael mentioned here: www.firmsconsulting.com/promo

28 Okt 202019min

An explosive expose of Samsung, one of the biggest and most secretive companies in the world, as the Korean juggernaut battles Apple and Sony to dominate the world of technology. Seen for decades in tech circles as a fast follower rather than an innovation leader, Samsung today has grown to become a market leader in the United States and around the globe. They have captured one quarter of the smartphone market and have been pushing the envelope on every front. In SAMSUNG RISING: The Inside Story of the South Korean Giant that Set Out to Beat Apple and Conquer Tech, Geoffrey Cain offers a penetrating look behind the curtains of the biggest company nobody in America knows. Get sample training episodes from FIRMSconsulting training library at firmsconsulting.com/promo

14 Okt 20201h 29min

We hope you will enjoy the "Consulting case interview (McKinsey, BCG, Bain) example: French Dairy Farm Wants to Increase Revenue" episode. This is an excerpt from TCO IV with Sizan, episode 33. This is a market share case. If we gave Sizan a case about a factory she would find it easier to increase production. But it is not as easy when it comes to dealing with animals. This is a case with production element. The part we expect candidates to see is that this is a case about stealing market share. To steal market share there are 4 things you can do. How do you steal market share? 1. Price 2. Place 3. Promotion 4. Product. The 4 Ps of marketing. You need to think about the case. Ask yourself what are we trying to do. We got a dairy company. We want to sell more. What does it mean to sell more? We basically want to increase our market share. How do we take market share? Every single case can be reduced to either increasing revenue or cutting costs. If you trying to sell more milk, you are trying to increase revenue. This is a revenue case where we specifically want to focus on volume. Milk is a commodity. Even organic milk is a commodity. Remember you need to follow the right process during a consulting case interview when you are preparing and going through interviews with companies like McKinsey, BCG, Bain, Deloitte etc. In fact, learning and mastering this process will also greatly help you when you start working as a management consultant, and even once you exit consulting. You can't just rely on your knowledge and experience. Your experience and knowledge can get outdated, but if you follow the right process you are giving yourself the best chance to be a strong problem solver. Get free sample episodes: firmsconsulting.com/promo

20 Sep 202015min

This is a short excerpt from TCO IV with Sizan, episode 31. All episodes are available to Premium members on StrategyTV site/apps and to FC Insiders on StrategyTraining site/apps. // FC BOOKS Turquoise Eyes: https://amzn.to/3bzVa6g Marketing Saves the World: https://amzn.to/2xcJqYA Succeeding as a Management Consultant: https://amzn.to/3a3atTn Free training: www.firmsconsulting.com/promo

12 Sep 20208min

Peter Dahlstrom, senior partner at McKinsey & Company, leads McKinsey's client and firm communications. As the global leader for McKinsey Digital's B2C team, he serves leading institutions in the telecommunications, high-tech, media, and fast-moving consumer-goods industries.

26 Aug 202055min

Listen to this thought-provoking discussion between Michael and Rob Markey, Bain and Company's partner.We talk about customer strategy, how should we define the loyalty of a customer, what generates loyalty, what steps do you take to build loyalty in a customer base. Rob Markey, a partner and director at Bain & Company and the founder of the firm's Global Customer Strategy and Marketing practice. He is a co-author of The Ultimate Question 2.0 and is the host of the Net Promoter System podcast. He is based in New York. https://www.firmsconsulting.com/promo

8 Aug 20201h 7min

Here is episode 369 from the Case Interviews & Management Consulting iTunes podcast channel, "How to manage like Amazon (with Ram Charan)." Every business wants to succeed like Amazon so we invited New York Times bestselling author & CEO Advisor Ram Charan to talk about How to Manage Like Amazon. From their high-velocity decision-making to their top talent hiring practices to their "Forever Day-1 Culture", the secrets behind Amazon's success are now within anyone's grasp. Find out how Amazon does it and how you can too by listening to this fascinating conversation between Michael and Ram, whom Fortune calls "The most influential consultant alive" and whose book Execution spent 150 weeks on the New York Times bestseller list.

28 Juli 202050min