Hi there,

MOST IMPORTANTLY: Know that no-one can perfectly prepare for the job and that's the point: You will mess up, you will learn, you will be trained and supported. That's OK!

--------------------------------------------------------------------------------------

First: I have a consulting survival guide handbook with 25 key tips for surviving the consulting world. Feel free to message me for it!

--------------------------------------------------------------------------------------

Second: In terms of things you can learn/do to prepare beforehand:

1) Daily Reading

• The Economist, The Financial Times, BCG/Mskinsey Insights

2) Industry deep-dives

• Learn, in-depth, how the industries/companies your office advises, work. (PM me for an industry overview template)

3) Analytics tools

• Alteryx, Tableau, etc.

4) Excel

5) Powerpoint

• Best practices/standards
• Different layouts
• Quickly editing/updating slides
• Thinking in PowerPoint

6) Presentation skills / sharp communication

• There are some online/virtual classes for this

--------------------------------------------------------------------------------------

Third: In terms of doing well in your role when you're there:

1) Understand the context/prompt (what role are you in, what company, who's watching, etc.)

2) Understand the objective (what, specifically, is expected from you...both day to day, and in your overall career progression)

3) Quickly process information, and focus on what's important - Take a lot of information and the unknown, find the most logical path, and focus on that.

4) Be comfortable with the unknown, and learn to brainstorm - think/speak like an expert without being one

In summary, there will always be a flood of information, expectations, competition etc. and not enough time. Find out which ones matter when. (i.e. be visibile and focus efforts on the things that people care about)

--------------------------------------------------------------------------------------

Fourth: Here are some great prior Q&As for you!

https://www.preplounge.com/en/consulting-forum/what-makes-a-good-consultant-how-to-get-a-good-review-6790

https://www.preplounge.com/en/consulting-forum/how-hard-is-it-to-excel-in-top-consulting-firms-6762

https://www.preplounge.com/en/consulting-forum/how-to-become-an-engagement-manager-and-partner-quickly-6722

https://www.preplounge.com/en/consulting-forum/need-to-learn-skills-in-the-ample-free-time-before-starting-at-an-mbb-what-should-i-do-6774

Hi there,

Congratulations on the promotion. I would consider the following:

1) Connect with someone in the new team and ask to have lunch together. This will help for the following reasons:

• You can create a personal connection with someone in the new division – it is always good to have an early ally
• You can get insider tips early on
• He/she (and you) needs to have lunch anyway – you are not taking much extra time. Pay for the lunch if possible, the other person will automatically remember you positively ;)

2) Ask suggestions to your future manager in terms of what he/she would recommend you cover before you join. Even if they don’t have recommendations, you will show you are a proactive person

3) Do your own due diligence on the sectors that you know you will have cover, so that you can join at full speed

All the best for a great start!

Francesco

Hi there, 

The one thing I'd do is reach out to the top performers in that team / division (usually people know who these are). Tell them you are excited about the transition and would like their guidance on what it takes to be very good in the role. People love sharing advice and the stuff you might get from them is invaluable and would probably take your months if not years to figure out on your own. 

Hi there, 

From my experience, DD consultants are by definition not experts in any particular industry, and given that projects change so fast and clients often operate in niches, it is impossible and not required to have a profound prior experience with a specific industry before embarking on a DD project. 

What DD consultants do have, though, is the ability to quickly structure their company and sector evaluation, many DD projects being very similar. I am sure that once you get a couple of these projects under your belt, you will be able to transition easily. 

I've done two HC DDs in BCG in 2021: we had a mixed team of people from the HC practice (like I was) and ring-fenced private equity consultants, and honestly, the PE colleagues performed even better than we HC “experts” did: they were so efficient and discerning, continued asking the right questions, and grasped the key notions of the HC world in a matter of three days. 

So I am sure that with a bit of practice, your skills will become more versatile as well.

Good luck!

I don't think it involves new skillsets. It involves deeper capability at some of the core the skills a strategy consultant should have: 

• research
• analysis
• modelling
• interviewing
• problem solving
• slide building

In strategy consulting in general, you also have to be good at leading workshops, client relationships skills, conflict management, and consensus building (this is not necessaily exhaustive but should be 80-90% of the required skills).

Regarding industry expertise… someone above you should have that. But please notice that usually that is not a requirement, as a lot of transactions are in niche areas where rarely any deep  knowledge is required… you build that up during the project.