Management Consulting Prep

Management Consulting 101 How To Become A Good And Successful Management Consultant?

You have passed the vigorously competitive recruitment process into management consulting. Behold, you have now stepped on an even more challenging journey? How to survive? How to do well there? What are some traits of a good consultant? Well, there are many of them. But if I have to pick only 5 most important ones, here would be them.

A quick glance

    1. High ambition for success
    2. Content Skills
    3. People Skills
    4. Learning Capabilities
    5. Resources Management

1. High ambition for success

If I could pick only 1 characteristic that makes you shine in your days at McKinsey, it would be this one. The job is so challenging and most people will fall at some point. Those with biggest motivation will stay and excel.

2. Content Skills

Some people may use the word “analytical skills” but there is so much more than that. Content skills refer to all aspects of day-to-day work of a standard consultant: from knowing how to structure complicated issues, how to crunch massive data, how to pull insights out of numerous sources, to how to logically and concisely present information on output forms (e.g: slides, reports, etc).

 

Let’s look at a small example of a very common situation in consulting. Say the client gave you a wrong piece of data. A consultant with good content skills would notice immediately and report back to the client for revisions, saving himself a ton of time and effort. On the other hand, a consultant without this skill would not notice the holes until the very end. He eventually has to change the big whole analysis and many related work branches, potentially wasting many days of working in wrong directions.

3. People Skills

Now, assume that both consultants in the example above possess the same level of content skills. They both can tell right away that the clients are giving them the wrong data. Clearly, what they need to do then is to contact the person-in-charge and ask him/her to revise the data. Yet, the one with better people skills will do this faster … while the other one may face all kinds of procrastination from the client, seriously delaying his workflow.

 

Now, assume that both consultants in the example above possess the same level of content skills. They both can tell right away that the clients are giving them the wrong data. Clearly, what they need to do then is to contact the person-in-charge and ask him/her to revise the data. Yet, the one with better people skills will do this faster … while the other one may face all kinds of procrastination from the client, seriously delaying his workflow.

 

4. Learning Capabilities

Learning in management consulting is an on-going and never-ending process (even for higher levels like managers and partners). There are always things you do not know, from a new industry, new geography, new functions to new people to work with, etc. And the other consultants in the firm are just as smart as you are. So, the ones who are able to learn harder and faster get an edge in the game.

 

Isn’t it impressive when it’s just the first day in the project and you are able to put some sharp insights about the industry on the meeting table? Remember, consulting is the business of selling brains, the better the brains perform within a time frame, the more value you can capture. The best way to “train” your brain is to fill it with a bunch of insightful input to your job. Other skills aside, those with the strongest learning capabilities go far in the game.

 

5. Resources Management

The term “resource” refers to all the “tools” you have to complete your tasks: from time, client’s materials, experts, to the supporting teams. In college, we usually increase output (e.g: grades) by increasing input (i.e: more study hours). However, in consulting, everybody is already maxed out. People have no room left to expand the work hours or the provided materials. So those who know how to plan things ahead, communicate effectively with client, and make the best out of existing resources are the most successful. Resources are also related to your time and health –which is finite, so keeping your workflow smooth will help you save time to maintain your best physical and emotional state.

 

In the example above, let’s say both consultants notice the holes and both can effectively convince the client to revise the data, one may be stuck with nothing to do in the meantime, especially when this happen at the end of a tight deadline. The other one with better resources management skills would know about this risk way before. He would organize this data gathering task way ahead in the work plan. He has a number of working branches going on, so even with this one pauses, he and all of his resources can still be running effectively. By the time the right data come back, he has achieved many other important insights that can even enhance the way he looks at it. That’s how the gap between a great consultant and a so-so one is created.

 

 

All in all, there are a handful of things “shaping” a great consultant. But I believe most of my folks at McKinsey would agree with me on this. What about you? I’d love to hear your opinions on the matter. Comment below and let me know!

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