3 Simple Shifts to 10X Your McKinsey, Bain, BCG Frameworks
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- เผยแพร่เมื่อ 12 พ.ค. 2018
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Learning Frameworks is by far the most important part of your case interview preparation, especially if you're focusing on the top firms: McKinsey, BCG and Bain.
Having good case interview frameworks will enable you to start the case off giving a good first impression to your interviewer and having the confidence you have a strong plan to solve the rest of your case.
But being good with frameworks is much more than knowing a few memorized lists that every candidate knows...
In this video I'm going to show you 3 simple shifts you can make in your framework technique to help you vastly improve your frameworks without having to learn any new frameworks.
You can make your frameworks 10X better (from your interviewer's perspective) in just a couple of weeks if you diligently apply these.
Tell me in the comments if you've liked this video and what you've liked about it.
Table of contents (so you can find stuff later in the future):
01:09 - Shift #1: Expand your list of categories
02:24 - Shift #1 Example
05:39 - Shift #2: Make your issues case-specific
06:48 - Shift #2 Example
12:55 - Shift #3: Always have a hypothesis underlying each issue
15:08 - Shift #3 Example
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Bruno - แนวปฏิบัติและการใช้ชีวิต
Learn more about building your own Frameworks from scratch through our "Landscape Technique" in the Frameworks Module of our free course! You'll also find framework practice drills inside that module, which will help you build the confidence to structure any case without relying on pre-made frameworks. Get instant access at www.craftingcases.com/freecourse
Guuuuuuuys, my profoundest gratitude to you for your videos, I was preparing with them to my interview and I am happy to inform you that I got my Big4 job offer yesterday!!! 🥳🥳🥳 Still can't believe it, I owe you a beer at the very least, thank you infinitely for an amazing work you did!!! 🤗🤗
I've been struggling with structuring and this (along with your MECE videos) is exactly what I needed. And I have been exploring (and paying) other case interview classes but I haven't encountered anything that is as comprehensive and insightful as your structuring videos. Thank you! Now I must put your lessons into practice.
Hey Bruno! Keep up the great work, your channel is by far one of the best sources in case preperation - you deserve by default more attention!
these tips in the video are really insightful and have helped me greatly. Looking forward to seeing more videos from you
This video is a great summary of the key takeaways of the Frameworks module in your Free Course. I like this video so much it helped me to see the big picture after that course module. I would say that for me, shift #2 is the most useful. Thank you for these videos and all your resources.
You are the best Bruno! Thank you my friend!
Hey Bruno, amazing job! Thank you very much, this will def help with my interviews.
Do you also coach?
Excellent video!!! Amazing content thank you very much
18:34 spot on. this initially hurt my prep coming from a nontarget -- especially appreciate these videos for that reason
Which of these shifts are YOU going to apply in your next case? Which one did you think was most useful?
Also if you have any questions, let me know here in the comments! I will read and answer each and every one of them (well, the good questions, at least :) )
Great content Bruno. I finally understood how I could use a hypothesis. I was also struggling with how to make my frameworks more contextual. I think I will use shift 2 and 3 more often. Thank you so much!
Have just started on my prepping journey and your course is too good and I am so glad I started with this as opposed to learning something wrong and then having to unlearn it.
Mano, sensacional!!!
Thanks again Bruno. Do you coach? I am specifically thinking about the PEI.
Great content! Thanks you!
Happy the you like it Ekaterina, let us know if there's any type of. contentyou think we should make!
Hi Bruno - @19:50 you mention that you'll create a video comparing frameworks with hypotheses. What is the name of this? Thanks!
Could you think of hypotheses before the issues?
SO good
thank you
Hey Bruno, thank you very much for these contents. It really helps a lot to a candidate who seeks a career in management consultancy. I have a little question tho about the video;
By adding distribution channel category, I think that you aim to investigate which type of distribution channel is used (direct, indirect), aim to investigate players (retailers, wholesalers, agents, distributors etc), barriers to entry and if we get some agreements with players so that they can push our sales. Right?
If so, what do you mean by 'do we have distribution/can we get distribution in China' bucket in company category? Did you mean 'how can we carry our products TO China' or 'do we have our own distribution system in China' ? For example, if we have our own distribution method/system in China then the whole last category wouldn't be that efficient to investigate, right?
I got confused by what you mean by 'do we have distribution/can we get distribution in China' and why didn't you put it to 'distribution channel' category (like we create another category as product and that's why we add issues about product not to company category but to products category)
I hope I asked it clearly, I am looking forward hearing from you!
Thanks.
Distribution in this case = access to retailers who sell haircare products. E.g. Drugstores, grocery stores, hairdressing salons, beauty stores, etc.
It's an important part of having a successful entry for this specific industry, and these players have interests of their own, which is why this product category is its own product category.
Hey Bruno! Great lecture, thank you.
What we have done here is we took the 3C&P "concept" and adapted it to our case? Have I gotten it right or am I missing something?
Also, how about we consider Regulations (Economic/Health and/or Quality/etc)? As these could affect their enty into a specific market if the local regulations does not allow their products or they need to alter their products to sell in Asia
You're right, rarehuman, I've adapted the 3Cs exactly the same way as I show in our free course (which you can find in our website).
You can add Regulations, in this specific case I didn't because if something is different, they could simply adjust their product to the regulations. Could these changes be so dramatic that it would put the cost structure of the business at stress? Possible, but very unlikely. I'd say there's no need to add, but no harm either.
I thought of one new category- technology. This would include automation, artificial intelligence driven decisions, robotics. The question would be whether we can apply any of these to increase efficiency
Great one. Not only it can be used to improve efficiency but also to increase sales (e.g. by improving retail experience through better data and software) and for other purposes as well - one could think about public sector cases that could use this.
Yes thanks!!
Thanks Rishika, amazing insight. This has helped me further with building my knowledge block.
@@rarehuman my pleasure!
Hi Bruno, thanks again for another great video!
I was thinking for a market entry case you would also typically look at the breakeven point (volume needed) to get an idea if the market is big enough etc. I have found myself switching between using the breakeven before doing a market analysis, and sometime after without having a clear guideline.
My logic is by doing a breakeven before you get a unit number or customer/subscriber number that you can always refer to when doing the market analysis and comment along the way if entering the market makes sense.
However, making a breakeven analysis after the market analysis also has its benefits, as one would be much more clear on pricing strategies, cost of entry etc. for now I use breakeven analysis before a market analysis when the case is about # of customer or # of subscribers with a big revenue impact per #. I do the breakeven analysis after when the case is about products (# of unit sold) with a lower revenue share per unit. Does this make sense or are there better ways to know when to start with a breakeven analysis and when to do it after the market analysis?
Cheers.
Hey Martin, having a break-even analysis as an add-on analysis to a market entry case is a pretty good idea!
You can do it before or after.
In general, I'd do it before if you think you'll find a break even that is really hard to achieve (and then you spend the rest of the case looking at the qualitative to see if there's any chance they'd do it). If it seems like the break-even would be lower (e.g. lower fixed cost industry), I'd do it afterward just as a check.
One important thing is to make it clear to the interviewer that your analysis is SEQUENTIAL. If you put the break-even analysis within any of the conceptual buckets (usually people put it within Company or Market Attractiveness), you're not being MECE and could even be rejected for it.
And regarding doing before or after, one last thought: it doesn't really matter. If the heuristic you found has been working for you, just keep at it.
Great job, by the way - few candidates think of these issues at this level of nuance.
@@CraftingCases Thanks a lot for the reply Bruno. This makes very much sense. :)
@@CraftingCases n4
Hi Bruno, thanks for your video. I have a question concerning your framework for the hair care example. It seems it's not ME (Mutually Exclusive) since you ask in the Competition segment "What channels do our competitors use", and then for the Company segment you ask : "Can we get distribution in Asia ? " and "Can we scale distribution enough to be cost effective ?". So here in the new Distribution Channels it seems a bit repetitive isn't it ?
Thanks in advance and I love all your videos!
It’s not repetitive because they’re 3 different questions.
It’s also correct that they’re in different buckets despite them being all about distribution, because one of them relates to our competitors and the others to our client.
Having the same words/concepts in different questions/buckets doesn’t automatically makes it unMECE.
@@CraftingCases Hey Bruno, thank you for the helpful content. My question is related- I agree that all 3 of the questions in the 3 initial buckets are different and mutually exclusive(company, competition and customer). However, when we add distribution channels as an entirely separate bucket in addition to the previous buckets, are they still mutually exclusive? I'm having a hard time identifying the difference between the question under the company bucket, which is- "Can we get distribution in Asia?", and the questions under the distribution channel bucket. Could you please provide some more specificity with respect to how these are mutually exclusive, since both of them seem to apply to the client.
Thank you Bruno for this interesting content!
However, if we do that, it will take about 10 min to do the structure and present it.
(if we add 5min for the interviewer to give the case and to us to ask some questions at the begining = > in total we will be in the 15th min of the case time)
Is this timing is ok ? I think with this amount of time it will be hard to finish the case in 35 min, isn't ?
I would like if this is an interviwer led specifity or it is common also for candidate led aloso.
Thank you for your response
structure should be 2 minutes max
To be fair, for section #1 having “Distirbution Channel” as an additional category seems to be not very MECE. It’s already a sub-topic that’s touched upon in Competition & Company. I would rather structure it in a way to further deep dive on an critical point rather than as a main framework bucket.
What distribution channels our competitors use is something that you do in competitive analysis because they have more to do with our competitor's decision making than with the dist. channels themselves.
The issues raised in the Distribution Channel bucket are related to how the Distribution Channels themselves make decisions, and would be wrong if asked in any other bucket, because they have nothing to do with our competitors or our company.
There's no way to ask these questions while being MECE in this overarching structure without adding this bucket, and it's an important topic so it must be added.
More on this in the Frameworks module in our free course.
Hello Sir,
I’m a Management/ Business Consultant owning a small firm “Maayish Management Consulting Firm” in Riyadh,SAUDIA ARABIA. My question is how to build a framework for a struggling business? A business that is loosing? Since that I usually work with these types of cases.
Please advise,
Hey Wafa, I'd love to help but your question is really really really broad. It depends on the business and the specific problem. To be honest, if you own a consulting firm I don't think TH-cam comments are the best way for you to develop methodology...
CraftingCases I got it. Thank you for your reply
CraftingCases so what will be the way to develop a methodology?
Please advise
Isn't it frowned upon to use existing frameworks on interviews, aren't we expected to only create frameworks customized to our case?
What's frowned upon is to use a framework that won't perfectly solve the specific problem they threw at you.
Just "plugging and playing" a canned framework will have that effect 99.99% of the time (especially since most interviewers nowadays create cases that are specifically not well solved via a canned framework).
Yet, adapting a canned framework to a specific situation is a good middle-ground for candidates that can't create their own structures from scratch yet. If you can do the latter, it is much preferred, but if you can't, adapting is better than using a canned one.
3 "simple" shifts.. yeah but it takes a shit tons of time before you'll master those
Well, master whatever you want to master, take a lot of time
@@tello9504 Yep.
Simple doesn't mean easy, and if they were easy, everyone would do it so it wouldn't be a differentiator.
CraftingCases así es, thank you for this content! Its great