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great video, thanks Johannes! how important would you say is networking within the firm during the internship in regards to the other steps?

You did not structure the market, what you did is segment it

I've been trying to live a more minimalistic life, and your content is so helpful.

Useless eaters

Lots of good info! Thank you and you explained it in a way that i was able to understand

🎯 Key points for quick navigation: 00:00:18 *📚 Consulting Outline: The video will cover the general concept of consulting, differentiate management and strategy consulting, and discuss their specific focus areas.* 00:00:45 *💡 Consulting Basics: Consulting is described as problem-solving as a service for clients, encompassing various niches like health, finance, and social media.* 00:01:26 *🏢 Management Target: Management consulting targets all management levels-top (c-suite), middle, and lower management, solving diverse management-related problems.* 00:03:02 *🤝 Big Players: Typical management consulting firms include big names like KPMG, PwC, Ernst & Young, and Deloitte, focusing on management issues at various levels.* 00:03:31 *🎯 Strategy Focus: Strategy consulting is a subcategory of management consulting, primarily targeting the c-suite and addressing revenue, cost, and organizational change.* 00:05:11 *🌍 Top Firms: Leading strategy consulting firms include McKinsey, BCG, and Bain, known for their market dominance and emphasis on strategic projects.* 00:05:49 *🔄 Market Overlap: Although distinct, strategy and management consulting firms increasingly overlap, with strategy firms expanding into broader management consulting areas.* 00:06:32 *🏆 Strategy Prestige: Strategy consulting is viewed as more prestigious, with higher entry barriers, salaries, and workload compared to management consulting.* 00:07:56 *⚖️ Decision Point: Prospective consultants must decide between strategy and management consulting based on personal preference for prestige, salary, and work-life balance.*

Super informative 💥

I like the idea of creating a consulting toolkit which develops over time. I’m a Senior Manager in one of the Big 4 consuting practices and it often feels like on each project we start afresh rather than bringing a suite of different tools, models, methodologies to make our approach more effiicient. I’d be interested in hearing more about the tools and frameworks that you use (specifically those that are publically available, or based on useful models outlined in books or by academics).

Good video, simple and clear. Thank you.

Thank you for sharing this data

It seems like the most important part is having data. Almost all videos about problem solving assume you have data. With data it’s easy to see where I problem is, but the problem IRL is that often this data is not even tracked/available in smaller companies. Having the right data is another problem, because what data are you going to track and how? Thanks for the video, now I know where I need to work on

Will it be good to apply for BCG X as Data Scientist with goal to get experience to create my own firm in the future ? Thanks for your video 🙏

Awesome... subscribed!

You look so much healthier than 12 months before✌🏼

Can we be very particular about the domain, like I want to be a management consultant only for automotive companies because of my 20 years of experience

but Johaness, this might explain why the firm are hiring less candidates or are more selective during the process, but for this first quarter or even last year some firms reported some crazy/exceptional profits... this entire situation is kinda absurd, isn't it?

Is consulting a useless job? Like if someone who doesn't know anything about these kind of prestigious jobs, ones who are aware of medical,eng, accounting professions, how do you describe your job?

Hi Johannes, the voice is feeble, can you please increase the gain in videos. I did a side by side comparison in another tab from another video creator and confirmed this

Thank you for sharing. Great !

Mr. Nyari, it seems to me that you completely missed the unintended consequences of Jack Welch's decisions at GE. The most obvious one is that now GE barely exists, has been removed from the DJIA (it was an original member), was on life support, and it had to be broken into three pieces to keep from dying. (1) The Fix, Sell, or Close policy made innovation very difficult and focused each line of business on marketing instead. The result was that the company founded by Thomas Edison, arguably America's greatest inventor ceased to invent. (2) The Vitality Curve, or Rank-and-Yank as it is commonly known, made collaboration next to impossible. If an employee helped a fellow employee, that assistance could drive the helpful employee into the bottom 10% and result in his dismissal. In addition, if you are hiring only "A-players", why do you want to get rid of some of them? (3) GE was infamous for "managing earnings" under Jack Welch. This meant that long-term thinking only extended to the end of the current quarter, when the 10-Qs came out. Investing R&D or making needed changes that would bear fruit in future year could upset reported earnings and get that manager fired. (4) The unintended consequence of the famed Leadership Development Program at Crotonville was that it created Group Think in the entire organization. This made responding to changes in the market exceedingly difficult. It also created a condition in GE that Jack Welch described as "showing your face to the boss and your ass to your customer". Further, it ensured that future CEOs would think the same way. It took 20 years for the effects of Jack Welch's policies to destroy GE, but such a large company does not die quickly, it dies a slow, painful death. I believe you missed all these unintended consequences. You focused on the intermediate results rather than on the final results. Please rethink your analysis in terms of the unintended consequences because those turned out to be the actual consequences. By the way, I meant no disrespect to you in anything I stated and sincerely hope that nothing I wrote came out that way; if it did, I apologize.

Thank you

Why not adding books links or at least name on the description? Very hard to find the second one..

Hey Johannes , really nice video ! I was wondering if I could help you with more Quality Editing in your videos and also make a highly engaging Thumbnail which will help your videos to reach to a wider audience ? Please Lmk what do you think ?

Hi, I watched your video and then looked up how to use an index/match/index function. It looks like it performs basically the same as an index/match/match function. It’s one of the most powerful functions available in Excel that I use. I think coming up with a good naming convention for your data tables is fairly important as well. So is learning how to anchor a formula built from a table. This allows you to copy formulas over without the references changing when you do. An example of how I name my data tables would be _Tbl_Data_2024. Thanks for putting the video out there. I’m always looking for better ways to do things within Excel.

🎯 Key Takeaways for quick navigation: 00:00 🌱 *Introduction to Management Consulting Challenges* - Overview of challenges in a management consulting career, - Ambitions and the difficult path to a successful consulting career, - Personal experience with these challenges. 01:09 📚 *Challenge 1: Breaking into Management Consulting* - Difficulty of entering the consulting industry as a student, - Importance of creating an attractive profile and networking, - Preparing for rigorous interview processes. 03:41 💼 *Challenge 2: Securing a Full-Time Offer from an Internship* - The competitive nature of transitioning from an intern to a full-time role, - Developing the right skills and fitting into the consulting culture, - Managing internship effectively to secure a full-time offer. 07:20 🚀 *Challenge 3: Promotions and Avoiding Burnout* - Navigating the promotion process and maintaining work-life balance, - Learning to work efficiently and managing high workloads, - Developing strategies for career advancement without burning out. 11:04 🔑 *Conclusion and Coaching Offer* - Emphasis on the personal ability to overcome consulting challenges, - Invitation to apply for a coaching session for further guidance, - Encouragement for a successful career in management consulting. Made with HARPA AI

Why are there so many German/European consultants on TH-cam 😂😂

Uncompromisingly forthright analysis !! Bro it is said that 'Writing' is the most important yet Underrated skill of the century so i want to know how to learn it effectively ? How it impacts our career & any mentors or books that could shed some light on it ??

I'm going to guess the book is "Extreme Ownership" =)

It's not left orientated socialistic/communist it's capitalism stakeholder capitalism to be exact which is complete power and control of the masses by a handful of unelected and unaccountable billionaires.

Thank you for sharing.

🎯 Key Takeaways for quick navigation: 00:00 🚀 *Einführung in das Verdienen von 250k als freiberuflicher oder Solo-Berater* - Der Moderator Hes stellt sich vor und erklärt das Ziel, Beratern zu helfen, 250k pro Jahr oder mehr zu verdienen. 01:10 ✨ *Wichtige Fähigkeiten und Werkzeuge für herausragende Arbeit* - Erläuterung der Bedeutung von Fähigkeiten und Werkzeugen für ausgezeichnete Leistung. - Erwähnung von Marktbelohnungen basierend auf dem tatsächlichen Wert, den man bringt. 03:01 🧠 *Grundlegende Fähigkeiten für Berater* - Diskussion über grundlegende Fähigkeiten wie Kommunikation, Selbstorganisation und Projektmanagement. - Betonung der Notwendigkeit, diese Grundfähigkeiten zu beherrschen. 04:10 🔧 *Technische und harte Fähigkeiten* - Beschreibung der technischen Fähigkeiten, insbesondere der Beherrschung von PowerPoint und Excel. - Erläuterung von harten Fähigkeiten wie Problemlösung und strategische Analyse. 06:01 🌟 *Entwicklung von Fähigkeiten und Mindset* - Diskussion über die Bedeutung des Lernens und der Entwicklung dieser Fähigkeiten. - Erwähnung der Notwendigkeit eines starken Mindsets für Erfolg. 07:12 🎯 *Nischenfindung und Positionierung im Markt* - Wichtigkeit der Nischenfindung, die auf Leidenschaft, Expertise und positiven Zukunftsaussichten basiert. 09:46 📈 *Kundenakquise und Vertriebsstrategien* - Verschiedene Ansätze zur Kundengewinnung, wie Networking und soziale Medien. - Wichtigkeit, einige wenige effektive Strategien zu wählen und sich darauf zu konzentrieren. Made with HARPA AI

Clause, Adolph, Marx and others wrote books! It's not Deutch!

How'd he write that book in 3 months after the breakout ?

Klaus Schwab is a LUNATIC Thank you for the resume

Is Germany collapsing.. in a recession ... or prospering...

Klaus wrote a second book after covid ... Energy use Fossil energy in particular .. ... and the huge increase world population ... 2,000,000 Two Billion ... many uneconomic contributors to the FIAT virtual money system... No reset .. collapse

"Promosm"

🎯 Key Takeaways for quick navigation: 00:00 📚 *Introduction to the video and channel* - Johannes, a strategy consultant, introduces the topic of essential books for consultants. - He encourages viewers to subscribe and like the video for channel support. 00:50 📘 *"The McKinsey Mind" and "The McKinsey Way"* - Discusses two books, "The McKinsey Mind" and "The McKinsey Way," offering insights into McKinsey's problem-solving process. - Provides practical advice on conducting brainstorming, interviews, and research. 01:46 📈 *"The Aspiring Advisor" by Moritz Dressen* - Highlights "The Aspiring Advisor," guiding readers from pre-consulting preparation to career advancement. - Offers practical tips on various aspects, from clothing choices to team behavior and networking. 02:54 🧩 *"Cracked"* - Reviews "Cracked," a comprehensive book on problem-solving in management consulting. - Details various problem-solving approaches and tools used at each stage. 03:48 📐 *"The Pyramid Principle" by Barbara Minto* - Discusses "The Pyramid Principle," focusing on effective communication in consulting. - Explains structuring communication starting with conclusions, then breaking down arguments. 04:46 📢 *Conclusion and Call-to-Action* - Johannes invites viewers to share their own book recommendations. - Encourages subscribing and liking the video; concludes with well wishes. Made with HARPA AI

Can you type this in words?

🎯 Key Takeaways for quick navigation: 00:00 🚨 *Current Crisis in the Consulting Industry* - Discusses the critical state of the consulting industry due to economic uncertainty and hiring freezes. - The consulting industry faces challenges in both economic booms and recessions. - The current state of uncertainty is especially harmful, causing companies to reduce external consulting costs. 02:02 📉 *Impact on Revenue and Hiring in Consulting Firms* - Reveals a significant decline in consulting industry revenue and project cancellations. - Large consulting firms are struggling with staffing projects and resorting to hiring freezes and layoffs. - The uncertainty is leading to cautious financial management by companies. 05:00 🎓 *Strategies for Aspiring Consultants* - Offers advice for students, interns, and existing consultants on navigating the current market challenges. - Emphasizes the importance of outperforming peers and improving personal skills. - Suggests ways to enhance profiles, network effectively, and prepare for case interviews. 08:00 📈 *Career Advancement in Consulting During Crisis* - Focuses on career advancement in consulting during these challenging times. - Highlights the need for skill development, effective performance, and avoiding burnout. - Advises on strategies for getting promoted and maintaining a strong mindset in the face of adversity. 11:02 🧠 *Developing a Resilient Mindset* - Stresses the importance of developing a resilient mindset to succeed in consulting during tough times. - Encourages viewing the current situation as an opportunity for growth and future success. - Offers support and coaching for those aspiring to join or progress in the consulting industry. Made with HARPA AI

Apply for a free coaching session: johannesnyari.com/your-free-coaching-session/

Apply for a free coaching session: johannesnyari.com/your-free-coaching-session/

Apply for a free coaching session: johannesnyari.com/your-free-coaching-session/

Apply for a free coaching session: johannesnyari.com/your-free-coaching-session/

Must be swabs son-in-law

I love your analyse Keep going

Thank you for such a nice history of consultancy...sir can u suggest any book on history of consultancy for any one new in this.

Thank you for the video. How long (on average) does it take to learn Excel's important skills?

Do they not use any slide show animations at all?

Many thanks for this kind of content!