We will guide and mentor you to acquire the vital, real-world skills needed to be a management consultant at an elite firm – McKinsey.
Even if you never actually work at McKinsey, you will understand the core techniques and tool kits needed to succeed in any industry.
You will develop better focus for your career, your business and yourself.
McKinsey & Company is a world’s leading management consulting firm. It conducts qualitative and quantitative analysis in order to evaluate management decisions.
80% of the world's largest corporations are counseled by McKinsey, which is considered the most prestigious management consultancy in the world.
This course reveals the hands-on secrets behind the firm’s success.
By mastering these core modules you'll be ready to work like a McKinsey strategy consultant. To begin earning a better salary and living a better life.
My course is designed for anyone who wants to advance their career, regardless of what industry you're in or what stage you're at.
What you'll come away with will be theories and tools that will become immensely valuable to your business life. They will change the way you think about and conduct business.
At it's core, management consulting is identifying what changes a company needs to make to become better. Then, developing a strategic plan for getting there and finally effectively executing that plan.
As a consultant, your job is to immerse yourself in the product or service a company sells. To learn everything about it. Then, map out a strategy for a more efficient and profitable way to sell that product or service. In other words, do it better, faster and with a better ROI.
Management consulting is a rapidly growing field.
Demand for college graduates is so great, that top firms are offering salaries of $90,000 or more for first year employees. Experienced consultants can easily earn six figures plus bonus. With the techniques you'll learn in my course, you can write your own ticket.
The time to take action is now! McKinsey Productivity Pointers gives you unlimited access to a library of more than 40 training videos. View them on your time on your laptop or any mobile device. We give you numerous step-by-step guides including problem solving, leadership, time management, communication and a lot more. Plus, you'll receive in-depth supplementary materials, tool kits and other invaluable further readings.
Just a basic working knowledge of business and the motivation to improve your business career.
Enroll now and become a member. Click the link above! Together, we will write your success story!
McKinsey & Company is widely regarded at the most prestigious management consulting firm. Its name is famous not only within the industry, but also to many people with only a basic interest in business. It is a privately owned management consulting firm which explains, to an extent, how this famous firm still manages to keep the details of its work along with its client so private.
In this lecture, I'll walk you through how a McKinsey consultant solves a business problem.
Now that we understand more about who McKinsey is and what they do, we will move on to different mindsets to solve a problem.
There is a strong preference for T-shaped problem solving. If you do this approach properly, it will help ensure that you have considered all of the topics which are suitable, before spending time exploring any one topic in depth.
What is a "SMART" Problem Statement at McKinsey? In this lecture, I'll go through the concept and list some SMART examples.
The MECE principle, pronounced 'me see', is a grouping principle for separating a set of items into subsets that are mutually exclusive and collectively exhaustive.
The MECE principle is useful in the business mapping process where the optimum arrangement of information is exhaustive and does not double count at any level of the hierarchy.
Before the actual analysis, the management consultant would start with the structure not data, because putting problem in a rigid business framework is much easier to maintain, read, brainstorm, and execute.
Frequently, "gut feeling" is used to determine complex decisions. This means that the decision has been made without evidence-based methods which look to apply quantitative techniques in order to verify expertise and experience. This approach of thinking is always widely used in the elite firm – McKinsey
The Pareto principle (also known as the 80–20 rule, the law of the vital few, and the principle of factor sparsity)states that, for many events, roughly 80% of the effects come from 20% of the causes. Management consultant Joseph M. Juran suggested the principle and named it after Italian economist Vilfredo Pareto, who, while at the University of Lausanne in 1896, published his first paper "Cours d'économie politique." Essentially, Pareto showed that approximately 80% of the land in Italy was owned by 20% of the population; Pareto developed the principle by observing that 20% of the peapods in his garden contained 80% of the peas.
When working on a problem, using hypotheses to guide your thinking is viewed as best practice at McKinsey. Being asked to be more "hypothesis-driven" is a common theme when working for McKinsey. So, if you are interviewed for a job at McKinsey, remember that your interviewer will expect you to be hypothesis-driven when posing you a case interview. In this section, I will give some tips on how to use and think with hypotheses-driven cases.
McKinsey if often engaged to work on a client's most challenging problems. One of the important tools they use to give themselves a structured approach is the "straw man". In this section, I aim to explain to what the "straw man" is and how it can be used as a tool for collaborative problem solving at all phases of an engagement.
"Levers" are initiatives that a team or client can use to move towards a targeted type of impact. With a creative mind, there are limitless options for how a company could improve itself. When creating the levers, however, the goal is to narrow down the options so that only the levers most relevant to the client's situation and goals are proposed.
In this lecture, I'll show you how to synthesis information to make a brilliant storyboard
In this video, I'll reveal the secrets behind McKinsey presentation
Here's a brief checklist to make sure your presentation is effective
Having strong leadership skills are vital for McKinsey consultants to have because of their role within an organization. This is because management consultants are outsiders to an organization and their actions normally create change within an organization.
The Speech which occurred at McKinsey & Company Partners’ Conference Tarrytown, New York October 16 defined McKinsey's culture and mission.
TEAM FOCUS module from McKinsey is to define rules of engagement
Managing the expectations of the client is absolutely critical to building and maintaining strong and rewarding relationship with them. An ex-consultant gives the vivid idea of: "Imagine telling your client that the famous guest singer you almost had booked for a high profile live-event, canceled ten minutes before show."
To build an enduring client relationship at McKinsey, you are likely to do these two things: Firstly, you align what you offer to the clients that you want to work with. Secondly, you put in place a relationship plan. This is a plan which guides what you ideally will do for the client and how you can develop the relationship to other parts of the client's organization in the future.
When doing all this client relationship management, the longer term reason for doing this is to maintain clients.
Maintaining clients is much cheaper in terms of cash, time and other resources than having to seek out new clients. In McKinsey, majority of the clients they served have more than 10 years consulting relationship.
In this further reading, I'll give you simple diagram to explain the consultant roles in the different level of client relationships.
In this lecture, I'll walk you through what's a focus interview.
As a McKinsey management consultant, you would take much time on interviewing clients, so in this lecture, I’ll show you how to manage an effective interview.
Here's a complete checklist to deliver an effective telephone interview.
In this lecture, I'll cover the top presentation techniques of a management consultant in an elite firm.
Feedback is key to McKinsey's culture. Feedback is used as a way to develop and improve consultants. By doing this, their consultants can always push towards having a greater client impact. This feedback does not only go down the chain of command. There is also the expectation that junior consultants will provide feedback to their leadership. The danger of this system is that it can end up focusing too much on negative points, even if they are portrayed as "development opportunities".
McKinsey consultants usually do a lot of work fast, that’s the impression for whom has work experience with them, so in this chapter, I’ll walk you through how to manage your time effectively.
Having your mind wander when you are supposed to be doing a task at your desk is a common problem which many of us face. You want to concentrate, but for some reason cannot. It is a frustrating situation and can be detrimental to performance.
One of the most important ways for you to be effective, is through utilizing your own energy. Time is, of course, limited so if you can increase your energy capacity you can have a large impact on what you can achieve.
Effective and efficient are words commonly used in business. Their meanings, do sometimes get mixed up. Therefore it's worth taking the time to make it clear what the difference is.
Here's a list of time management tools that you could apply into your personal and work life.
Here's quick checklist to improve your daily productivity.
In all areas of business, ethics are important. Organizations grant consultants access to the confidential and the proprietary inner workings of their firms. They only do this if they view the consultants to be trustworthy and ethical.
In this lecture, I'll show you two popular personalities tests which are widely used in top management firms.
Body language impacts success. Knowing how to portray confidence whether it is at a conference, after-hours, meeting or trade show, in all of these situations you will want to attract good clients to do business with you.
We have spoken about body language, but we should also consider the importance of dressing professionally as a McKinsey consultant. In the same way your body language makes an impression about your professionalism, dressing sloppily or inappropriately can hold back your career.
For professionals, strong dining skills are important. Showing poor skills, can be disastrous for a reputation. Due to this, second interviews are sometimes done over a meal. How you deal with the pressure of an interview whilst handling a meal can have a real influence on a business decision.
College graduates receive offers from top firms with compensation approaching or exceeding $90,000 in their first year alone. Experienced management consultants can earn well over six figures—and that's not accounting for bonuses.
So in this chapter, we’re going to talk about how to prepare resume, cover letter and interviews to help you land your dream job.
Even if already have interviews lined up, it is useful to know what makes a good resume since it will help you understand why you have been picked. The resume brings to light biases firms have, the concerns which will come up and so the type of points they will push you on during the interview. Once you understand the psychology behind the way the resume are reviewed, it makes the interview process a lot more predictable.
In this lecture, you can check out the structure of Harvard formatted resume, and you can also download the editable version in the downloadable resource
Normally you will not need to submit a cover letter - although a CV is almost always a requirement. A basic point which many people neglect, is that you should write a unique cover letter for every employer you apply to. Experienced recruiters will be able to tell if you are using a template and then copy and pasting the firm's name into it.
Prospective management consultants are assessed by doing the McKinsey case interview format. The entire aim of this type of interview is to find candidates who make good consultants.
Estimation case is one of the most popular question types you will get in a case interview. These questions ask you to estimate or to smartly guess a quantitative variable relevant to the case you are solving. So as an example, I’ll calculate the minimum number of gas stations needed in Germany to show you how to solve an estimation case.
Another type of interview you will experience is the Personal Experience Interview, also known as PEI. On some occasions the whole interviews will be PEI type questions, whilst other occasions PEI questions will last 15 minutes before it turn into a case interview. The format varies by firm, but at some point you will be asked about your career experiences to date.
This is the end of this course, but not the end of what you can learn or how you can keep up to speed with management consulting, and productivity techniques.
Feel free to download course keynotes in the downloadable materials section.
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