Cookie and Privacy Settings

This website uses cookies to enable essential functions like the user login and sessions. We also use cookies and third-party tools to improve your surfing experience on preplounge.com. You can choose to activate only essential cookies or all cookies. You can always change your preference in the cookie and privacy settings. This link can also be found in the footer of the site. If you need more information, please visit our privacy policy.

Data processing in the USA: By clicking on "I accept", you also consent, in accordance with article 49 paragraph 1 sentence 1 lit. GDPR, to your data being processed in the USA (by Google LLC, Facebook Inc., LinkedIn Inc., Stripe, Paypal).

Manage settings individually I accept
expert
Expert with best answer

Paul

0 Meetings

15 Q&A Upvotes

USD 329 / Coaching

4

What are some of the most important work principles you learnt at top tier consulting firms?

I would like to know what are some of the work principles that you learnt in top tier consulting firms that you can apply to work life anywhere else as well.

I would like to know what are some of the work principles that you learnt in top tier consulting firms that you can apply to work life anywhere else as well.

4 answers

  • Upvotes
  • Date ascending
  • Date descending
Best Answer
Book a coaching with Paul

0 Meetings

15 Q&A Upvotes

USD 329 / Coaching

  • How to write: At McKinsey, you learn to write before you go to the PowerPoint (or at least it used to be this way). This helped you understand how to structure your thinking in a persuasive way.
  • Feedback: Feedback is different at the top consulting firms. Instead of feedback about font and formatting, you get "yes, and..." feedback trying to add or build on what you have already created. Ignore the small mistakes and give feedback in the direction of great work.
  • High Standards: This is hard for someone to understand who hasn't worked at one of the top firms. The standards are really high - often when you are iterating for the 30th time on a document you want to run away, but when you look back, you miss those times where everyone on the team was aiming to do great work, not just get it done.
  • Synthesis: Getting tons of reps of taking 15 data points and turning that into a story is more art than science, but seeing others do it and trying to do it myself gave me a feel for quickly cutting to the takeaway whenever I read anything to this day
  • MECE: MECE is gold for quickly organizing your thoughts and cutting out confusing structure or organization. It's not perfect, but is a quick hack to level up your thinking.
  • Iteration: Great work comes from psychological safety, good feedback + lots of iterations. Too many other workplaces don't grok how to get the reps in.
  • Delusional Curiosity: Some of the problems we worked on were beyond everyone's comfort zone, but there was a delusional level of belief that we could figure it out. This is helpful when you are knee-deep in research and the self-doubt creeps in. Now when I'm experiencing this, I know I can dig myself out.
  • Empirical Skepticism: Consultants are guilty of plenty of BS, but helping create some of that and seeing other lazy business thinking helps you develop a quick reflext for identifying crappy claims. "Oh fancy news program, chocolate doubles your disease risk? whats your nominal value? effect size?" You get the point.

I now help teach some of these skills as part of my strategy consulting skills course. I don't really like teaching case prep, but if people want to go deeper hit me up!

  • How to write: At McKinsey, you learn to write before you go to the PowerPoint (or at least it used to be this way). This helped you understand how to structure your thinking in a persuasive way.
  • Feedback: Feedback is different at the top consulting firms. Instead of feedback about font and formatting, you get "yes, and..." feedback trying to add or build on what you have already created. Ignore the small mistakes and give feedback in the direction of great work.
  • High Standards: This is hard for someone to understand who hasn't worked at one of the top firms. The standards are really high - often when you are iterating for the 30th time on a document you want to run away, but when you look back, you miss those times where everyone on the team was aiming to do great work, not just get it done.
  • Synthesis: Getting tons of reps of taking 15 data points and turning that into a story is more art than science, but seeing others do it and trying to do it myself gave me a feel for quickly cutting to the takeaway whenever I read anything to this day
  • MECE: MECE is gold for quickly organizing your thoughts and cutting out confusing structure or organization. It's not perfect, but is a quick hack to level up your thinking.
  • Iteration: Great work comes from psychological safety, good feedback + lots of iterations. Too many other workplaces don't grok how to get the reps in.
  • Delusional Curiosity: Some of the problems we worked on were beyond everyone's comfort zone, but there was a delusional level of belief that we could figure it out. This is helpful when you are knee-deep in research and the self-doubt creeps in. Now when I'm experiencing this, I know I can dig myself out.
  • Empirical Skepticism: Consultants are guilty of plenty of BS, but helping create some of that and seeing other lazy business thinking helps you develop a quick reflext for identifying crappy claims. "Oh fancy news program, chocolate doubles your disease risk? whats your nominal value? effect size?" You get the point.

I now help teach some of these skills as part of my strategy consulting skills course. I don't really like teaching case prep, but if people want to go deeper hit me up!

(edited)

Book a coaching with Marco-Alexander

100% Recommendation Rate

104 Meetings

289 Q&A Upvotes

USD 219 / Coaching

Hi Anonym,

three points were most important to me:

  • Structuring: Working with MECE approaches makes solving problems and communicating solutions much easier.
  • 80:20: You work much more efficiently if you prioritize what is really important. This helps also to achieve top quality and precision in what you prioritize.
  • Networking: It's not only about what you know, but also about who you know.

Best regards
Marco-Alexander

Hi Anonym,

three points were most important to me:

  • Structuring: Working with MECE approaches makes solving problems and communicating solutions much easier.
  • 80:20: You work much more efficiently if you prioritize what is really important. This helps also to achieve top quality and precision in what you prioritize.
  • Networking: It's not only about what you know, but also about who you know.

Best regards
Marco-Alexander

Dear A,

Here is some ideas regarding to your question:

- Learn to work better,more effecient and more effectively. This is the time when 80-20 principle will come to your life.

- Problem solving. No matter what field are there. You just have to solve it.

- Communication skills.With consulting job you will improve them a lot. It's not just about connecting and networking, but also about communicating result of your work clearly

- How to make desicions and delegate.

Best,

André

Dear A,

Here is some ideas regarding to your question:

- Learn to work better,more effecient and more effectively. This is the time when 80-20 principle will come to your life.

- Problem solving. No matter what field are there. You just have to solve it.

- Communication skills.With consulting job you will improve them a lot. It's not just about connecting and networking, but also about communicating result of your work clearly

- How to make desicions and delegate.

Best,

André

Book a coaching with Francesco

100% Recommendation Rate

3,464 Meetings

16,857 Q&A Upvotes

USD 449 / Coaching

Hi Anonymous,

here is a list of the main things you may learn as a consultant:

  1. Solve complex problems. You will learn how to find appropriate solutions for complex issues, even in areas you are not familiar with, using a defined structured approach.
  2. Develop great communication skills. You will learn how to communicate properly with everyone in a company from new hires to C-levels.
  3. Acquire knowledge of multiple industries. You will learn insider aspects of several industries in a very short period of time.
  4. Reach challenging goals with a set time frame. You will learn how to respect apparently impossible deadlines and achieve the objectives required.
  5. Become a team player. You will learn how to have a team-based mentality, as your job as a consultant will be strongly influenced by your team performance.
  6. Master productivity tools. You will learn how to become a lot faster and proficient with Excel and Power Point than the average user.
  7. Prioritize activities. You will learn how to become 80-20...or alternatively how to sleep very few hours ;). As a consultant, you will always have more things to do than the ones achievable in a certain time frame, hence you will have to constantly decide what to give priority to.

Best,

Francesco

Hi Anonymous,

here is a list of the main things you may learn as a consultant:

  1. Solve complex problems. You will learn how to find appropriate solutions for complex issues, even in areas you are not familiar with, using a defined structured approach.
  2. Develop great communication skills. You will learn how to communicate properly with everyone in a company from new hires to C-levels.
  3. Acquire knowledge of multiple industries. You will learn insider aspects of several industries in a very short period of time.
  4. Reach challenging goals with a set time frame. You will learn how to respect apparently impossible deadlines and achieve the objectives required.
  5. Become a team player. You will learn how to have a team-based mentality, as your job as a consultant will be strongly influenced by your team performance.
  6. Master productivity tools. You will learn how to become a lot faster and proficient with Excel and Power Point than the average user.
  7. Prioritize activities. You will learn how to become 80-20...or alternatively how to sleep very few hours ;). As a consultant, you will always have more things to do than the ones achievable in a certain time frame, hence you will have to constantly decide what to give priority to.

Best,

Francesco

Related case(s)

MBB Final Round Case - Smart Education

Solved 18.4k times
MBB Final Round Case - Smart Education Our client is SmartBridge, a nonprofit educational institution offering face-to-face tutoring services. The client operates in the US. The mission of SmartBridge is to help as many students as possible to complete studies and prevent that they drop from the school system, in particular in disadvantaged areas. The client is considering starting operations for its services in the Chicago area. They hired us to understand if that makes sense. Due to the nonprofit regulation, SmartBridge should operate on its own in the market, without any partnership. How would you help our client?
4.6 5 647
| Rating: (4.6 / 5.0)

Our client is SmartBridge, a nonprofit educational institution offering face-to-face tutoring services. The client operates in the US. The mission of SmartBridge is to help as many students as possible to complete studies and prevent that they drop from the school system, in particular in disadvant ... Open whole case

Bain 1st Round Case – BlissOttica

Solved 2.5k times
Bain 1st Round Case – BlissOttica Our client is a BlissOttica, an Eyewear Manufacturer that is looking to reach a 10% increase in profits. How would you help our client?
4.3 5 125
| Rating: (4.3 / 5.0)

Our client is a BlissOttica, an Eyewear Manufacturer that is looking to reach a 10% increase in profits. How would you help our client? Open whole case

Cutting Carbs - Divestiture in the Electrical Power Market

Solved 2.1k times
Cutting Carbs - Divestiture in the Electrical Power Market Our client is Energy England, one of northern England’s largest electric utility companies. They were created over the past decade through an aggressive series of mergers of existing utility companies each specializing in a single energy generation source. Recently, the CEO has embarked on an initiative to return to the core of the business. She is looking to increase free cash flow and cash reserves in order to prepare the business for evolving future trends.   The following can be verbally provided to interviewee if asked: Energy England is made up of assets across the energy-generation space. These include coal, gas, nuclear, and wind We are looking to divest from just one of our previous acquisitions (i.e one target is sufficient) There are no specific goals/metrics – the client trusts our judgement
4.3 5 42
| Rating: (4.3 / 5.0)

Our client is Energy England, one of northern England’s largest electric utility companies. They were created over the past decade through an aggressive series of mergers of existing utility companies each specializing in a single energy generation source. Recently, the CEO has embarked on an initi ... Open whole case