I'm currently preparing for a consultant position interview with a boutique consulting firm focusing purely on retail/consumer goods. While I have been preparing for generalist role at other consulting houses, I don't have much work experience in this sector. Are there any specific advice to prepare for a consultant role focusing just on 1 sector? Also, for these kind of firms, is it always essential to have deep knowledge / expertise in the sector? How could I efficiently prepare for the interview which is coming in a few days? Thank you!
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How to prepare for boutique consulting firms focusing on a specific industry?
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Dear candidate,
do the usual prep in fact but yes, read up on industry news and trends and be very clear about why you are interested in their niche. Also do not say you are interested just because it is your only opportunity available. Rather make it clear to them why you are passionate about it. If you have any experience in it at all, be prepared to talk about it. You can also take a few free online courses about their industry in order to have some extra background knowledge. While the firms prefer that you have experience in the niche, as long as they invite you for interviews, you should be fine, it means they are ok with the experience you do have and it is a matter of conveying your sufficient competence to them.
Best regards
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Hey there,
I wouldn't be surprised if the case interviews were specific to the industry. In that case, you should look get up to speed with a bit of everything related to that sector, such as (not limited to):
- Their clients, if public, and get an understanding of who they're serving generally
- Latest trends in general retail, including things like payments, merging digital and physical spaces, etc.
- Latest trends in specific retail e.g. clothes, fresh food, CPG, etc.
- Competitive landscape i.e. consolidation, biggest players, M&A activity
- Typical challenges for businesses e.g. changing consumer habits, e-commerce, low margins, etc.
If you spend a day doing google search and reading some recent news, you should be alright. The idea is not to become and expert but rather to get comfortable with the high level dynamics of the sector. As for the rest, rely on your casing skills!
Hope this helps a bit! Best of luck!
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Hi there,
1) Do cases in those sectors
2) Read the company website in depth (including their white papers)
3) Go to BCG Insights and McKinsey Insights and read on related topics
4) Literally research the industry (I have industry deep-dives for 20+ industries)
5) Get a coach. There's nothing that can ramp you up more quickly on a given topic/issue than a coach!
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Yes, you should know fairly well the industry. Know the subsectors, they key players, the trends, the “latest topics” and current most pressing issues.
So focus on doing multiple cases on that industry + reading the news + reading MBB (+that boutique) website on that specific industry.
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