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Technical Challenges on Working as Consultant

Anonymous

Hello prep lounge community,

Happy new year and hope all is well,

I have been thinking a lot about the technical challenges (when i say technical challenges not related with people) that a consultant would face when working at client's site and i am trying to visualise ways to overcome those challenges.

Here is one example i can think of:

How to do market sizing when there is a lack of shelve data in general, and if the industry is very fragmentised? Can the consultant use proxy industry? Also, if lets say the consultant need to build data from ground up, how should that be done?

I would also appreciate it if you guys can point out more examples of technical challenges a consultant would face in the job,

Thanks and regards,

From future MBB employee :)

Currently non-active expert
Expert
replied on 01/10/2018

Hey,

Let me start by congratulating you on your upcoming role at MBB.

Regarding your question and/or any market estimation in general (whenever you can't find any report with the data are already off-the-shelf somewhere else), there is two main options to go: top-down or bottom-up. Assuming it is a too fragmented market, it would be difficult to go into a bottom-up, so most likely you will need to find a proxy/approach to reach a value from a top-down perspective - which is just the same problem solving method you need to use in consulting interviews asking for a market sizing estimation.

That said, if I was you I wouldn't be worried about this type of issues... as you shouldn't be expecting the clients to just pop up in the team room and ask such questions out of nowhere, so you will have plenty of time to problem solve it (with the help of your team)

Best

Bruno