What the heck does a consultant DO, exactly?
ฝัง
- เผยแพร่เมื่อ 13 พ.ค. 2024
- In this video, I will explain in details what a consultant really do. People say that I solve #businessproblems. That’s not wrong. But it’s way over-simplified. What does it mean to “solve problems”? What specifically do #consultants do to do that?
#Managementconsultants help solve business problems, using their own expertise in problem-solving, combined with an extensive support network of industry, function and local experts, as well as other specialists. The daily work of consultants in a project include gathering data and insights, running analyses, making presentations and pitching solutions.
________________________
SUGGESTED SOURCES:
McKinsey PST - The Ultimate Guide:
mconsultingprep.com/problem-s...
Consuting Resume Guidelines:
mconsultingprep.com/managemen...
________________________
Visit our website for more DETAILED GUIDES on Management Consulting Prep mconsultingprep.com/
• McKinsey PST: mconsultingprep.com/problem-s...
• Consulting Math: mconsultingprep.com/consultin...
• Case Interview: mconsultingprep.com/case-inte...
• Management Consulting Resume A-Z Guide: mconsultingprep.com/managemen...
Read 50+ posts on our blog for insider tips and tricks on McKinsey PST and Case Interview mconsultingprep.com/blog/
Connect with like-minded individuals who share a passion for consulting: / discord
Learn more about our E2E SECRETS PROGRAM TO ACE THE CASE mconsultingprep.com/case-inte...
Subscribe to our channels at goo.gl/ziBfQs to help us make everything available for free.
Watch all of our VIDEOS on TH-cam at goo.gl/ziBfQs
JOIN US ON FACEBOOK / mconsultingprep
Hope to see you in the next video!
________________________
Time Stamps:
0:00 Intro
1:23 Process behind a consultant’s work
5:45 Detailed example of the cement project
16:18 Outro
Check out our 2024 updated McKinsey SOLVE screening test here: th-cam.com/channels/Go4-qWsTYnGKhXeghZE6hA.html
Where were you about 15 years ago when I had self-started my consulting firm and had to learn each and every single thing on my own? This was 5 years worth right off the bat. That's probably a conversion of a mere $1.2million dollars of fees for you lol!
Thank you for being the only one in the world to ACTUALLY explain in detail what consultants do IN DETAIL. Not just say "I do management consulting and I help businesses solve problems". You actually give PROCESS to your explanation.
WG Consultants now whts the position of your firm
bullshit
Why would you start a consulting firm if you didn't even know this?
Weird flex but ok
@@DL-fl5ul You start a consulting firm because you got exceptional skill, knowledge and insights into a subject that you feel can bring value to your potential clients. Basically when u start u r technical experts. However, as ur consultancy grows, you feel that u r forced to learn a lot of the peripheral knowledge that will make you enhance ur service offerings and meet the requirement of more customers...
My MBA course had almost 5 different subjects to cover what you did in 16 minutes, awesome. My resolve to get into management consulting is even stronger now.
Hey! Just checking in, I’m about to start the journey to get in too.
Are you in yet?
This is easily the most detailed yet super simplified explanation of consulting as a field of work. Exactly what I was looking for. Helped crystallized a lot for me. Thanks a ton man for the value-add!
I had a feeling that "solving business problems" meant something of this sort, but seeing the sheer volume of data that you had to pore through to come to an informed opinion backed by explanations seems overwhelming. Wow. Good going though!
Love your vids. Keep 'em coming.
Cheers from India!
Love your comments too. Keep 'em coming. ^^
Really helpful -thanks for taking the time to put it together
Not trivial. Useful detail for those interested in heading in this direction. Thanks!
You are super welcome! Hehe! ^^
The amount of work is tremendous and the variety of work is complex. I can now imagine a good work attitude and great team support are crucial for a consultant to persist through his/her career. Thank you for the vid!
True! It's a hard job. But you will be surprised you can adapt to it quite quickly ^^ (meaning you grow a lot as a person).
Possibly the greatest consulting insight video of all time. I like this level of detail, I like what you did, I like the idea of travelling down a river in Thailand and I want to know more about your excel model. I think I would love consulting. I'm going for a final round with Mck Risk however which seems different. I imagine client work is very quant heavy and model driven, but I'm happy to pick up the tech knowledge although being an actuary is not my forte per se. Do you know anything about the Risk practice?
so basically consultancies are well-established networks of knowledge, to be sold at ludicrous prices to whoever is in need :D
anyways the video is awesome and really clarifies a lot of what actually happens in a consultancy. great work
Knowledge is power!!
Intellectual fixed assets, yes :)
More than that. What he did as a consultant was organize and conduct a lot of market research from several sources to compile into a workable deliverable, managed a team, orchestrated multiple mini-projects to accomplish his task, used research to solve the company’s problem (whether to close or not). That was a very generalized version. The amount of work he did, to help a company make such a decision, most professionals would not do on the cheap. It was worth a “ludicrous” price.
Exactly. You're not paying for the individuals billable hours, you're paying for the collective experience of the entire global firm.
Thank you. This was really helpful for me prepare for case study interviews. As I have zero knowledge about case studies, watching your videos really make me more confident about approaching the interview. Thanks again.
Crisp and Clearly explained. Thank you for this video! This will help me a long way
This question has really been disturbing me since a very long time too. Everywhere I look it just tells me that consultants solve business problems, analyze them, etc. but what I fail to understand is what sort of business problems? But now, I get it. Thank you a lot!
Thoroughly put and overwhelming information, truly eye-opening!
thanks a lot for putting it together
Kim, your video is pure gold in terms of perspective into what consultants do! Keep up the great work!!
As a small business consultant this is very helpful for me to better organize my business. Having a plan organized like this will help me so much to gather my thoughts and systematize consultation. THANK YOU!!
This was incredibly helpful and very comprehensive! Thanks for taking the time to do this.
This is hands-down one of the best teaching videos I have ever watched. Koodos to you man. Now I know what consultants really do and the work looks challenging but also very exciting. I will be applying to the Mckinsey office in Vancouver this fall.
Hopefully this video helped you!
How was the result?
Hi Kim, Great video, thank you for taking the time to explain in such a good way. All the best
That seriously was an eye opener! Thanks a tonne!
It would be of great help if you can similarly explain the different responsibilities of management consultant, business consultant, technology consultant, strategy consultant etc..
Hopefully this video helps.
Btw, thanks for your recommendations! I will definitely note it down. In the meanwhile, have you got all the aspects in management consulting featured in our website: mconsultingprep.com/blog/?
Thank you for this fantastic video! Most consultants I have spoken to when I've tried to find out more about this profession have ended up giving me vague and cliched answers, so I really appreciate this in-depth insight into management consulting.
My gosh! This is a great deal of info. Well detailed and simplified. Thanks so much for sharing.
Hi! I would just like to thank you for putting out such great content that is at the same time very digestible! I am currently a Sophomore studying Fine Arts and after seeing your video, I have a completely different perspective on management consultant. In the past I have tried to ignore the financial side of everything, but listening to your process, I have realized that management consulting is relatable to many aspects of what I am already doing. Continuous, credible research, trying to think of a better way to understand the issue at hand, and knowing that there can always be a different way to learn and problem solve. (I thought the Thailand business trip was a great idea and finding). I just wanted to thank you for igniting a new found interest in me and possibly a new passion. You have inspired me. Thank you so much.
If you do happen to see this message, I was wondering if you could also give me some beginners advice, such as what to read, possible learning, internship opportunities and just anything in general that would be helpful for a keen beginner.
Again, thank you very much for this video.
Best,
Tony
TonyLi Vlogs well said. I'm following.
Thank you for the video with great visuals to help process the information!
Thank you so much for this video. You put together a really insightful video that flows well and answers a lot of questions I had about the world of consulting.
5 years later and still super helpful! Thank you!
Hope to hear this even 5 years from now ^^.
Seriously the best explanation of management consulting I’ve seen! Nice work!
thank you thank you thank you^^
The way you casually slipped in that business trip to Thailand! I'm not sure I could get used to that being an acceptable thing to do...
This one project sounds more complex, interesting and challenging than my entire (8 years) "career" so far. Thank you!
Before finding this video, the prospect of applying for a consulting job is full of uncertainty and stress -- NOT ANY MORE. Thank you so much. All the stress now turns into excitement -- you get the opportunity to utilise the best resources (research, finances, expert knowledge) to solve problems. At the top firms, you are constantly supported by years of experience and hard work, and colleagues who also trust and respect your work. The key skill changes from (uni level) self-reliance to true cooperation to achieve a more valuable outcome. I am truly inspired, thank you again!
The complexity on how the solution is found is both exciting and a little frightening. While all of your steps seem highly logical it excites me to think of how rewarding it can be to find that logical next step(s) to answer a simple but hard question. This video is super inspiring!
Well sharing is caring!
We would love to give you more exciting and frightening videos and articles ahead!
Btw, have you read our articles at mconsultingprep.com/blog/?
I can tell there is one thing excellent that you've demonstrated through your project experience - the very logical common sense for raising framing the right questions and then even more logically to figure out those questions one by one with strong execution.
I think the more project experiences you accumulate, the more your common sense will get in asking the right questions. i think that's indispensable .
Yes, I do agree!
Perfect. This is exactly what I wanted to understand about consulting work instead of the fix business problems analogy. Thank you!
You're welcome!!
Excellent insight and positive thinking. Thank you for this.
Thank you for explaining the consulting so well !! I will refer my friends who are also interested in such topics to your videos. Btw, will you please make a video to explain the different types of consultants (Strategy, financial advisory, operations etc.)? I feel confused to those fancy titles :(
Hey there :) so far this video is the best consulting prep material ive ever encountered! Looking forward to learn some more from your site. Xoxo
thanks and great efforts by u making it. I really appreciate this.
this video is absolutely amazing and extremely insightful! thank you!!!
WOW! This is amazing insight :D thanks for giving such comprehensive example with great detail of what you do on a day to day basis! It's super useful even 7 years after :")
I can't believe it's already 7 years as well ^^.
Thank you for making this video! Very insightful :)
Wow! That was awesome! This video really helped me understand the career for which I am preparing. Thanks!
Thank you for this insightful content! Its made me even more excited to work in management consulting !
It's so great to hear that our video has inspired you a little more to love management consulting!
How long had you been working at McKinsey before you worked the cement project? (I want to get some idea of the learning curve...)
Also, I would love to know your thoughts about working at McKinsey vs. Bain, BCG, Accenture, or other top management consulting firms.
Thank you so much for the very detailed video. It really helps me understand consulting field.
This video is much informative and this is the video i was searching for, it contains the information more than my expectation. I want to convey my thanks to this video maker.
Thanks a lot! Very clear and concise. I felt the challenge that such jobs requires and understood if this type of career would interest me. Good luck in your future endeavours
Great video! I like all your visual illustrations and your emotions instead of being a textbook style! Very realistic, informative, and cute
This video expanded the horizons of my thought process.Thanks a lot!
The information was very crisp and clear. Channels like yours are the good reason of youtube's existense. Made my day, motivated with a boost in self confidence to step up my career to a consultant from a Business Analyst. I would like to ask some doubts in detail in a personalised email. Will that be possible ?.. Thanks for the video btw. :-)
the-xp-1.ueniweb.com/en-in/b/the-xp-1#services
this is the best explanation of what a management consultant does
great video! i can really see now how this could apply to the skills I'm learning in college. THANKS!
Excellent insight, thank you for this video.
This channel is awesome! Thank you for the good work. Happy holidays :)
This comment is awesome! Thank you for the nice one. Happy holidays :)
Hi Kim! Thanks a lot for preparing such amazing videos! It really helped me throughout my case interview preparation and I ended up getting an offer from McKinsey! Best regards!
Wao congratulation! This news definitely makes my day! Keep believing and keep fighting ^^
Wao congratulation! This news definitely makes my day! Keep believing and keep fighting ^
So glad I found this. Thank you so much!
thank you very much for this insightful video. This has surely aided me in confirming my future career choice :)
Million times better explained than any info session I have attended. Absolutely brilliant work...
Iam happy that this video helps ^^
Very nice video…it has cleared my all doubts and queries. Thanks for this valuable video containing the knowledgeable information, i have got the much more information from this video. I am also able to understand the process of resolving the consulting issues.
Hi Kim, thanks so much for making this video. It did help me a lot in understanding what a management consultant should be. And I have made up my mind to become one. Hope everything will be fine in my application process. Finger crossed! And thanks again.
I was hoping to find a decent video explaining what consultants do. What I found is simply amazing, thank you very much.
Thanks for the sharing Kim! though i'm not in the consulting industry, i still found it useful in the career development.
Love these videos! Eager to watch the slide writing video, keep it up! :)
Great video!!! Congratulations! Very aligned to the MCI - Management Consulting Institute methodology. Using SCQ and MACE!!
Very nice overview. Can you please tell me, how do you make sure that you get repeat business from the client? Is that a consideration? How does that play into the way you approach and solve the problem?
That was very helpful and knowledgeable...Thanks..Keep it up
Thanks for this video man. I was always confused in this.
Glad to hear that man^^
Wow that video was really helpful!
I realized that this process has a lot of similarities with how a researcher aproaches a research question... thank you!
Hope our video helps!
Yes, I agree that logic and structure are the key approach to any problems!
Holy shit. This was so eye opening! Thanks for the awesome video!
Loved the video, thanks. A few questions:
Was this an entry level project? It seems quite complicated.
And how much time did it take in total?
That's really a fantastic job you did in there, I'm already in love with consulting world, but now you made me admire it more and more. working myself smart and hard to be in the same boat in the near future.
wish me luck!
but how long the whole search process or the PD took from end to end?
Great video! Finally something that helps me understand the industry more fully. I was wondering which level of the company you were positioned in when this case was given to you, i.e. how long would you have to have worked there for to be entrusted with the case? Are low level grads given the level of autonomy as described here?
Wow! Thank you very much! I have talked to many consultants and none has explained the work so well! In less than 3 months I will start working as a management consultant. Care sharing tips on how to use the pre-consulting time wisely? What to read? What to prepare? Which skills to sharpen and how?
Thanks again!
thank u for such deep insight you made in to the concept
Thank you very much for this content. Look forward to more.
Awesome!!!
What an amazing video. To actually tell us the work of a consultant. Thank you so much.
My pleasure! Let me know if you have any question ^^.
That answered a lot of questions in 15 minutes, thanks so much. I felt so invested in the case I wanted to know whether your insights into the cost cutting improvement levers ended up weighing in enough to change the final recommendation on whether to close the plant or not?
damn that was some great content. loved it. you are great. love you
Haha, I love you too^^
=====
If my content adds value to you, feel free to buy me a coffee: www.buymeacoffee.com/kimtran
This was hugely helpful thank you!
thank you so much! this video is incredibly helpful!
Glad it was helpful! Keep watching more ^^.
Hi, thanks a lot for these great videos. Quick Question: your video makes a brief reference to MBTI - does this refer to the Myers-Briggs Type Indicator? I'm a Psychology major (UK) looking at consulting and I'm curious what role this plays? When we looked at personality research almost all the focus was on the "Big Five" tests and the Myers-Briggs wasn't assigned too much credibility. Thanks again.
Excellent presentation! Thank you!!!
This clip answered just so many questions I had - muchas gracias!
de nada my dear;)
While the process of searching the information from the internet about the detailed process of consultancies. I found the exact information which i was searching for.. from here so firstly i want to convey my thanks to this video owner for sharing this valuable information. This information helps me a lot in making the strategies for our clients.
I was searching the website for the purpose of getting the information about the effective consulting process which i got from this video. It also make me able to give the information about the clients relationships with the consultancies. Now i can resolve many issues related to my client acquiring process. This video helps me in increasing my confidence related to consulting process.
Thank you for the insights !!
I am a building services consultant. This is very similar to the process I use. Especially with engineering audits. A lot of people do not appreciate the sheer volume of documents we have to read to make our recommendations.
Thank you for the interesting insight^^
I almost never post comments, but this video was an amazing explanation of what management consulting actually looks like in practice. Thanks for taking the time to explain so thoroughly!
Glad our video helps! Don't forget to visit our website for even more insights about Management Consulting: mconsultingprep.com.
Leave us any messages if you need any help!
Thank you for sharing! Helped me a lot!
You're welcome!
=====
If my content adds value to you, feel free to buy me a coffee: www.buymeacoffee.com/kimtran
Send me rsn id
This definitely helped solidify the fact that management consulting is a career that i'm interested in pursuing. Thank you mate.
Great to hear! Keep watching all of my other videos ^^.
Hey! Thank you so much for this video. Could you describe the difference between Management Consulting and Risk Consulting?
Just Awesome! Hope you make some more knowledge imparting videos!
amazing, thanks for sharing!!
Thank You. That was very informative.
Hi, excellent video Kim!
Just a question that came to me; How long does a single case take? Is is something pre-decided in the deliverables or varies case to case. Also, do you have some hard deadlines and so how do you decide how much time to dedicate to each of the processes you mentioned considering you don't have sufficient info beforehand
Finally!!! Someone who actually explains what consultants do! Not sure why this is so hard for people to get across, even making this video in half the time would be very insightful. Question, where do you learn the skills to actually
Implement all of this? Do the companies you work for train you?
Hi Joe, thank you for the nice comment. Yes I was frustrated not knowing what consultants do until I finally became a consultant myself. To answer your question, McKinsey trained me very very well ... and I have a great team here at MConsultingPrep^^.
Hey Kim! Do you have any advice on what to include in a cover letter for McKinsey?
Thank you loads!
Wooh excellent content in the video, very useful.. well can currently I am in handling International Business Development and have an exp of around 2 years.. any suggestions down the line to switch to Consulting or further growth opportunities?
Bro you snapped. Great vid. 💯🔥
Send me rsn id
Great content ,real world example and excellent narration
TWO QUESTIONS: About how long from start to finish would you say you worked on a typical project of this caliber? And were you working on other projects at the same time (if so, how many/to what degree)?
GREAT video, all of your material has been super helpful as I progressed in my degree/internships.
Each project last about 3-10 months. No, unless you are a Partner, you only focus on one project at a time. Hope this helps^^.
=====
If my content adds value to you, feel free to buy me a coffee: www.buymeacoffee.com/kimtran
@@MConsultingPrep What if you leave the company? who takes care of the project and how?
Extremely amazing
Waiting more such videos
Thank you for the nice comment. Really means a lot^^.
Very insightful video! Thank you