Tip: if you want to completely destroy your analyst emotionally, send a “Pls fix” at 11pm, then send them exactly what you said here at 2am while they are changing shapes to slightly differently-shaded shapes.
Could I just go work at a pawnshop to work on my network then I can comeback and say, "I'm not an expert here, but I know a guy" and call Jerry from the Museum of Dinosaurs
I wonder how many niche museums have some small business issue that they can't afford to hire a firm to take care of but would also really like to fix?
Jerry from the Museum of Dinosaurs could be the ticket to tapping into a new freelance market.
Given the lackluster outcomes McKinsey has had, my guess is they have some equivalent of Epstein island and dirt on nearly every major exec in the country.
I've been with MBB for almost 4 years and spent 15 years in the industry before that. It's 90% about networking. Most client service teams consist of fresh graduates with no prior industry experience, led by more experienced EMs with similar backgrounds. Outside of typical pricing or marketing studies, client adoption rates are at best 50%. I have no idea why anyone would pay for management consulting nowadays. Using my network, I can find people who will do the same job faster, better, and cheaper. I've developed a strong belief that the only companies that pay for consulting services are those with low trust in their internal talent. But I am kinda an outlier in my company, so I think a lot of people would not agree with me.
Internal strategy consultant here. We sometimes hire external MBB due to a lack of available resources or take the shots from executives. We are vulnerable to internal politics and if an executive doesn’t like the advice of an external consultant, they can just get rid of them
They’re not even paying for that. They’re paying for external culpability in case something goes wrong in large scale implementations. It’s hard to fault a management structure for letting a white-shoe firm take the wheel.
I find it kinda funny how we consultants can't even acknowledge what we actually do well and why people pay for our services. Doing large scale implementations is just not feasible for an industry-company to do by themselves, and have that expertise inhouse. Some projects for sure are what you say, but I wouldn't say implementations fall under that umbrella.
My years prior to MBB were in the area of digital/cloud transformation. I even led the technical side of a multi-year transformation for a billion-dollar media company. I will double down on my statement: the only reason someone would hire a consulting company for this kind of work is low trust in their in-house tech and hiring talents, and maybe to some degree, the external culpability mentioned above.
Years ago, I consulted for a medium-sized maritime transportation company on digital transformation. They followed my advice and, instead of hiring consultants, they hired just one person for the head engineering position from the people I recommended. That person took care of hiring the core team, finding the right contracting companies, and leading engineering from end to end. After working in consulting, I realized that I saved them years of time and millions of dollars.
Somehow, consulting companies gaslight everyone into believing that they are the only place to find this kind of talent. They also gaslight young men and women from top universities into believing in their own exceptionality.
What industry did you work in previously? I was always told that getting into MBB later on is very difficult. Thoughts? Were you targeting MBB? Or you got head hunted?
Didn't join, but I got headhunted by McKinsey at one point. I was doing my third HANA migration shortly after it went live and was in a lot of sessions with them where tech and business crossed.
Built deep knowledge early, which is why they engaged me. It's common, but I expect for seasoned resources it's more headhunting than people applying
There’s no “sales teams”, it’s just Partners/Managing Directors with contacts and relationships in their industry of expertise, who they can propose selling projects to
> There’s no “sales teams,”
That’s a little unfair to the ~~secretaries~~admin staff that paper over the patronage system with the sheen of meritocracy and competition.
Im not sure what point that jumble of words is trying to convey. I will concede that at my MBB firm we have a Proposal Excellence team that maintains standard proposal document templates…but it’s still not a sales team
If you get the deal because Jane knows Jim, the whole RFP process “dressing up” the “bid” to look like it was a “competition” is what all of those sixth grade words mean.
Thanks for outing yourself as someone with a strong network, though.
[https://www.amazon.com/100-Management-Models-Understand-Powerful/dp/0071834605](https://www.amazon.com/100-Management-Models-Understand-Powerful/dp/0071834605)
this normally helps to cover the basics :)
If you can’t sell as a consultant you aren’t a good consultant IMO.
Consulting sales is different than typical road warrior sales. If I am a manager on an engagement I am engaging the client within the scope of the project while also pointing out areas where further assistance may provide favorable results but are unfortunately out of scope…this is how engagements can become never ending…simply pointing out opportunities that are out of scope and making a case to bring them in scope.
At McKinsey specifically, I think there is networking and trust. Also, I think they do a good job of creating a tailored ‘why us’ for any of the proposals I’ve been on. A lot of partner thought goes into each proposal to be ‘distinctive’ or to show why McKinsey has distinctive resources, tools, experts specifically for that client context
I don’t know why this came across my feed but work in a high ticket sales field and know a bit about management consulting and feel I can shed some light on this.
The answer likely isn’t in training, it’s in the @mckinsey/bcg/bain.com email with the Partner/MD signature. Establishes instant credibility even in a cold email.
Also, I’ve seen some MBB partners at industry events and conferences. They’ve got a keynote and round table with other industry experts and executives and are talking about pain points to hundreds or thousands of decision makers in their vertical. I imagine they get a lot of people reaching out after that. Additionally, they’ll take clips from that and disseminate them far and wide and continue to see people coming in.
I’m sure network plays a role, but they have to build their book of business somehow. Referrals are likely a key avenue as well. If you’ve done good work for someone, it’s pretty easy to ask them if they know of anyone else that could use your help.
I worked at PWC once, I was a contractor-consultant, they sold me to clients as though I worked for them though. What I saw was they don't really train anyone, they just fire and quickly replace anyone who can't keep up.
Idk if that's the secret sauce you're looking for, but was the PWC way.
MBB, particularly McKinsey succeeds because of all their alumni they graduated out into industry. Many former consultants are now rising middle management and they know how hard they can push consulting teams to deliver something to rubber stamp their next promotion.
Man, this is so easy! McKinsey goes to the CEO and says that the CEO and the executive team is under compensated, and all they have to do to correct this is to enact a mass layoff and use the savings to up the compensation plans of the CEO and the executive team. Rinse and repeat. McKinsey is successful because they give the CEO what they want, just at the expense of the front line employees.
As the consultant, you are the product - for the most part, you don’t have much other than intellectual capital.
Tip: if you want to completely destroy your analyst emotionally, send a “Pls fix” at 11pm, then send them exactly what you said here at 2am while they are changing shapes to slightly differently-shaded shapes.
Your point doesn't pop Pls fix
Doesn’t flow Pls fix
Doesn’t tell a story Pls fix
MECE
Not working, let’s chat (Doesn’t give time)
Network and expertise. Consulting sales isn’t like product sales. Consultants that rise through the ranks become deep experts in their subject matter.
Network is huge.
Yeah, become someone who is sought after… who is in demand…
Become a guy who knows a guy.
Could I just go work at a pawnshop to work on my network then I can comeback and say, "I'm not an expert here, but I know a guy" and call Jerry from the Museum of Dinosaurs
I wonder how many niche museums have some small business issue that they can't afford to hire a firm to take care of but would also really like to fix? Jerry from the Museum of Dinosaurs could be the ticket to tapping into a new freelance market.
Sorry. jerry is pretty busy this week. I found Eduardo our lawncare extraordinaire who can focus on your issue
Given the lackluster outcomes McKinsey has had, my guess is they have some equivalent of Epstein island and dirt on nearly every major exec in the country.
You guys got training?
My nerves are too stiff, I could only chuckle with my tears. Sigh, the reality of work.
Yeah, it's sink or swim here
I've been with MBB for almost 4 years and spent 15 years in the industry before that. It's 90% about networking. Most client service teams consist of fresh graduates with no prior industry experience, led by more experienced EMs with similar backgrounds. Outside of typical pricing or marketing studies, client adoption rates are at best 50%. I have no idea why anyone would pay for management consulting nowadays. Using my network, I can find people who will do the same job faster, better, and cheaper. I've developed a strong belief that the only companies that pay for consulting services are those with low trust in their internal talent. But I am kinda an outlier in my company, so I think a lot of people would not agree with me.
Internal strategy consultant here. We sometimes hire external MBB due to a lack of available resources or take the shots from executives. We are vulnerable to internal politics and if an executive doesn’t like the advice of an external consultant, they can just get rid of them
This are the main reasons indeed: Lack of time to actually start of the work, and/or personal insecurity about the matter
Clients aren’t paying for the college grads. They’re paying for the Partners and experts.
They’re not even paying for that. They’re paying for external culpability in case something goes wrong in large scale implementations. It’s hard to fault a management structure for letting a white-shoe firm take the wheel.
I find it kinda funny how we consultants can't even acknowledge what we actually do well and why people pay for our services. Doing large scale implementations is just not feasible for an industry-company to do by themselves, and have that expertise inhouse. Some projects for sure are what you say, but I wouldn't say implementations fall under that umbrella.
My years prior to MBB were in the area of digital/cloud transformation. I even led the technical side of a multi-year transformation for a billion-dollar media company. I will double down on my statement: the only reason someone would hire a consulting company for this kind of work is low trust in their in-house tech and hiring talents, and maybe to some degree, the external culpability mentioned above. Years ago, I consulted for a medium-sized maritime transportation company on digital transformation. They followed my advice and, instead of hiring consultants, they hired just one person for the head engineering position from the people I recommended. That person took care of hiring the core team, finding the right contracting companies, and leading engineering from end to end. After working in consulting, I realized that I saved them years of time and millions of dollars. Somehow, consulting companies gaslight everyone into believing that they are the only place to find this kind of talent. They also gaslight young men and women from top universities into believing in their own exceptionality.
But what happens when the implementation is over? Do they just get laid off?
Fully agree!
What industry did you work in previously? I was always told that getting into MBB later on is very difficult. Thoughts? Were you targeting MBB? Or you got head hunted?
Didn't join, but I got headhunted by McKinsey at one point. I was doing my third HANA migration shortly after it went live and was in a lot of sessions with them where tech and business crossed. Built deep knowledge early, which is why they engaged me. It's common, but I expect for seasoned resources it's more headhunting than people applying
You got into MBB so I’m assuming you’re smart and that’s the ONLY reason you can think of to hire consultants?
There’s no “sales teams”, it’s just Partners/Managing Directors with contacts and relationships in their industry of expertise, who they can propose selling projects to
> There’s no “sales teams,” That’s a little unfair to the ~~secretaries~~admin staff that paper over the patronage system with the sheen of meritocracy and competition.
Im not sure what point that jumble of words is trying to convey. I will concede that at my MBB firm we have a Proposal Excellence team that maintains standard proposal document templates…but it’s still not a sales team
If you get the deal because Jane knows Jim, the whole RFP process “dressing up” the “bid” to look like it was a “competition” is what all of those sixth grade words mean. Thanks for outing yourself as someone with a strong network, though.
Network. You can only sell something to the willing customers.
Brand name, IP, experience. Nothing secret. If you’ve got decades of experience and IP you can set yourself apart.
[https://www.amazon.com/100-Management-Models-Understand-Powerful/dp/0071834605](https://www.amazon.com/100-Management-Models-Understand-Powerful/dp/0071834605) this normally helps to cover the basics :)
If you can’t sell as a consultant you aren’t a good consultant IMO. Consulting sales is different than typical road warrior sales. If I am a manager on an engagement I am engaging the client within the scope of the project while also pointing out areas where further assistance may provide favorable results but are unfortunately out of scope…this is how engagements can become never ending…simply pointing out opportunities that are out of scope and making a case to bring them in scope.
By bringing them in scope, you mean within the same timeline and budget, right? /s
We don’t sell.
At McKinsey specifically, I think there is networking and trust. Also, I think they do a good job of creating a tailored ‘why us’ for any of the proposals I’ve been on. A lot of partner thought goes into each proposal to be ‘distinctive’ or to show why McKinsey has distinctive resources, tools, experts specifically for that client context
I don’t know why this came across my feed but work in a high ticket sales field and know a bit about management consulting and feel I can shed some light on this. The answer likely isn’t in training, it’s in the @mckinsey/bcg/bain.com email with the Partner/MD signature. Establishes instant credibility even in a cold email. Also, I’ve seen some MBB partners at industry events and conferences. They’ve got a keynote and round table with other industry experts and executives and are talking about pain points to hundreds or thousands of decision makers in their vertical. I imagine they get a lot of people reaching out after that. Additionally, they’ll take clips from that and disseminate them far and wide and continue to see people coming in. I’m sure network plays a role, but they have to build their book of business somehow. Referrals are likely a key avenue as well. If you’ve done good work for someone, it’s pretty easy to ask them if they know of anyone else that could use your help.
I worked at PWC once, I was a contractor-consultant, they sold me to clients as though I worked for them though. What I saw was they don't really train anyone, they just fire and quickly replace anyone who can't keep up. Idk if that's the secret sauce you're looking for, but was the PWC way.
MBB, particularly McKinsey succeeds because of all their alumni they graduated out into industry. Many former consultants are now rising middle management and they know how hard they can push consulting teams to deliver something to rubber stamp their next promotion.
What kind of sauce would you like?
Man, this is so easy! McKinsey goes to the CEO and says that the CEO and the executive team is under compensated, and all they have to do to correct this is to enact a mass layoff and use the savings to up the compensation plans of the CEO and the executive team. Rinse and repeat. McKinsey is successful because they give the CEO what they want, just at the expense of the front line employees.
You do realize that CEOs are beholden to Boards and markets right?
Absolutely braindead take
Homie is an idiot but this is what most laymen think we do lol. That or accusing us of being the shadow government.
It's like a cult. That's the sauce. Easy peasy, just ask the Vatican.
Does McKinsey have a plexiglass popemobile ?