by Consultant's Mind | Learning
For weathered consultants, Excel is not new. In fact, we teethed our brain on it many years ago as analysts, consultants, senior consultants. In fact, it’s possible – just possible – that we have gotten pretty slow at it in our, uh um, old age....
by Consultant's Mind | Learning
Advice from Students. Shouldn’t we learn from those with more experience and great track records. Stand on the shoulder of giants. Use best practices. Learn the hacks. Work smart. I started asking students who crushed my class last year, what their advice was...
by Consultant's Mind | Learning
Huge fan of quotations. Whatever you are thinking, its probably been said by a famous person – more succinctly, more eloquently. Here are some of my favorites. The bucketing is approximate, and definitely not MECE. We are what we repeatedly do All great...
by Consultant's Mind | Learning
Wrote this blog post in 2018, it was prescient Reading Pandora Media’s financial statements is like rubbernecking at a car crash on the highway. Completely not necessary, not classy, and perhaps a waste of time. Two years ago I wrote about Pandora’s...
by Consultant's Mind | Learning
I wrote this post 5 years ago after the Newton tragedy. After Las Vegas, this is all too common. This how this consultant thinks about the problem. It’s a complex and charged issue that needs real mature discussion. US gun violence is a problem. Approximately...
by Consultant's Mind | Learning
These two phrases have become my pedagogical mottos. Learn how to learn. Think about your thinking. If we value a liberal arts education (I do), and believe that the nature of work will be forever changing (I do), then the smartest thing we can do: 1. Learn how to...
by Consultant's Mind | Learning
Grading papers is work Grading papers is a double-edged sword; it’s insanely time-consuming, and yet enormously valuable. As a ballpark estimate, last semester I reviewed 500+ written pages (MS Word, double-spaced) and countless presentation slides (MS PPT)....
by Consultant's Mind | Learning
Three years ago, I wrote about idea fight club – the simple, fun, true idea that consultants should start projects with an open mind, then systematically, democratically beat up on those same ideas, until the best one emerges victorious. Making ideas stronger...
by Consultant's Mind | Learning
We ran a business bootcamp for non-business majors in 2018. We had 4 guest speakers. Good questions and good advice. Thanks for all the great advice AN, IM, WM, DB. This is the advice that they gave. Adding some of my comments in blue too. Do the work. Mark...
by Consultant's Mind | Learning
(geek alert) The DuPont Method is one of my favorite things from B school. Yes, it’s a way to calculate return-on-equity, but it’s also a great way for a consultant to get smart on a company quickly. It’s a great first step in tearing apart...
by Consultant's Mind | Learning
Consultants should be a quick study. Imagine that you find out on Friday afternoon that you are going to be staffed on a new project on Monday. You better spend 2-3 hours getting smart on the industry and company. To that effect, wanted to choose a random company and...
by Consultant's Mind | Learning
CNBC interview with Jeff Bezos Amazon is an outlier in approach, scope, scale, and profits. So, let’s listen in on an interview with someone who knows a lot about the company. Founder, Jeff Bezos, quotes in blue italics. My big takeaways: Amazon was not a...
by Consultant's Mind | Learning
Start with positioning Marketing strategy is an enormously vast, fun, and exciting topic. In that forest of thinking, I would argue that positioning is the first-domino idea to consider. It’s a 40 year-old idea that is just as important as it was in 1972, when...
by Consultant's Mind | Learning
The Bill and Melinda Gates foundation is awesome by most any measure. They tackle global problems as wide ranging as education and clean water. They fill some of the societal gaps that public companies and government are missing – nudging nation states,...
by Consultant's Mind | Learning
Bain published a 2018 Private Equity report (80pg) which you have to sign up to get here. The high-level message seems to be that private equity is doing well (perhaps too well) and there is a lot of investor money looking for returns. This is driving up valuations...
by Consultant's Mind | Learning
Working on my taxes this weekend, which is no fun. I’d rather be blogging. Recently read T.R. Reid’s book on taxes, aptly titled: A Fine Mess (affiliate link). If you’ve read any of his previous books, you know he is a pretty expansive thinker,...
by Consultant's Mind | Learning
Peter Thiel spoke at the Economic Club of New York 2018. Super insightful, contrarian, clearly an original. If this is a name that is new to you, here is a refresher blog post from 2017. Co-founder of Paypal. Enjoyed this interview and put a few of his quotes in blue...
by Consultant's Mind | Learning
At the Goizueta Business School we offer a 3 week business boot camp for non-business majors here. The idea goes that there are a few dozen core business concepts that any graduate should know (e.g., Assets = Liabilities + Equity). In the spirit of putting together a...
by Consultant's Mind | Learning
Big fan of Satya Nadella Current CEO of Microsoft. Take a look at this 2 min video. I showed this to 200+ business school students recently. Completely worth your time. Energy and Clarity. Boom. Nadella argues that empathy is core to innovation How can you meet...
by Consultant's Mind | Learning
Finviz is a great way to filter stocks. It’s free. It’s like Bloomberg-lite for the non-investment bankers. It shows all the stocks traded in the US (including foreign ADRs like HMC, PHG etc). Here is an exercise (as of 03/04/2018): 1) How many stocks are...
by Consultant's Mind | Learning
Huge fan of Linkedin. It’s the primary way I stay in touch my friends and work colleagues from the last 20 years. Barely use Facebook, but use Linkedin daily. So, when I was trying to filter some of my connections – frustrated, and not working well –...
by Consultant's Mind | Learning
Just read a 5,000 word interview with Thomas Friedman here. To say that I am a Friedman fan, would be an understatement. The Pulitzer Prize winning author is beyond wise. Lexus and the Olive Tree and The World is Flat (affiliate links) are incredibly important books....
by Consultant's Mind | Learning
I teach Strategic Management to 190+ students every semester. We read 10+ cases, watch CNBC videos, read the Wall Street Journal, use Finviz, research with S&P industry surveys, grok the DuPont formula, question the validity of RBV, try to Cross the Chasm, move...
by Consultant's Mind | Learning
The US stock market fell on Friday and Monday in large part due to fears of inflation. The logic goes: economy is doing well, inflation is creeping up, Fed might get over-eager and raise interest rates too much, companies might have difficulty making profits, stocks...
by Consultant's Mind | Learning
Today I found an old Fortunte magazine on my shelf dated March 2005. Warren Buffet is on the cover – looking a good 13+ years younger – and the title proclaims: “The best advice I ever got.” Perhaps this had more significance to me because I was wrapping...
by Consultant's Mind | Learning
I stumbled across this video of four global leaders talking about education. Yes, it’s from Davos (yawn), but addresses the importance of education as a vehicle for empowerment. Honestly, one of the best way to learn smart things is to listen to smart people go...
by Consultant's Mind | Learning
Book-to-bill: This is a ratio that many B2B marketers watch closely because it gives an early indication of where the company’s business is headed (up or down). It is pretty simple math; take the bookings (orders) / billings (revenue). When you have long...
by Consultant's Mind | Learning
Wrote the original blog post in 2018. It’s 2023, and three things: a) SuperCell still abides by this management philosophy and finding great smart people, keep teams tight, celebrating failures (because it’s a sign of innovation), willingness to say...
by Consultant's Mind | Learning
Teaching consulting Teaching management consulting this semester to a select group of 40 students. I imagine 1/2 of them will have consulting internship or full-time offers already. This is an elective, and they are elite. That said, I wanted to describe management...
by Consultant's Mind | Real Estate
Note, this was originally written in 2018 (fed funds at 1.5-2.25%) vs. this update in blue color in 2023 (fed funds at 5.30%). That is a massive increase in marginal interest rates, so the math is a LOT different in 2023 in blue. What is the economies of rental...
by Consultant's Mind | Learning
This is shocking because it shows the extent to which outsourcing is no longer a trend, but just a simple, fat reality. Fact. The days of Hershey, PA life-time employment are long-dead. Labor has become so specialized (read: Adam Smith talk) that there is a company...
by Consultant's Mind | Learning
In the WSJ today, learned that UPS encourages / asks its office workers to help sort and deliver packages during the holiday delivery rush here. Quotes from WSJ article in blue italics. UPS normally has “ready teams,” or office workers that help to sort, load or...
by Consultant's Mind | Learning
Started reading The Inevitable: 12 Technological Forces that Will Shape Our Future (affiliate link). I am only on page 83, and I have already bought 9 copies for friends. It’s written by Kevin Kelly, co-founder of Wired magazine, and does an amazing job of...
by Consultant's Mind | Learning
Consultants are very visual people, because our clients are. Executives like to see complex ideas and data simplified, so it is easy to understand and act upon. Clients pay to see simplicity. Simplicity is difficult to do well. Infographics are fun. Honestly, this is...
by Consultant's Mind | Learning
Case competitions are great fun I did 9 of them during my MBA days. It’s a chance for you to compete with students and see how good you are at ‘cracking the case’. The format differs considerably: Some competitions last 3-4 hours, while others can...
by Consultant's Mind | Learning
I wrote this blog post in 2017, new comments in 2023 (6 years later) written in red font. In 2017, US stocks doubled in last 5 years The S&P index is up 16%+ year-to-date. A good thing right? One fund manager recently commented that investors have never been so...
by Consultant's Mind | Learning
I wrote this blog post in 2017, after the Sandy Hook mass shooting of school children. Remember that? Horror. Additional comments in red color, but the sad fact remains that America has the same senseless gun violence as it had then. Just in the last month, shooting...
by Consultant's Mind | Learning
This 21 letter hyphenated-phrase generates $billions of management consulting work. With M&A booming the last few years, it’s no surprise that companies need lots of post-deal support. Whether a company hire outsiders to help or not, post-merger integration...
by Consultant's Mind | Learning
Thought-provoking I first read about the “elephant chart” in Edward Luce’s The Retreat of Western Liberalism (affiliate link), where the author explained how income inequality was a key factor in the global rise of protectionism and angry populism....
by Consultant's Mind | Learning
Richard Thaler Yes, professor from University of Chicago, won the Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel. Most people know him for writing the 2008 best-seller Nudge (affiliate link) with Cass Sunstein. Super enjoyed the book and was...
by Consultant's Mind | Learning
Check the quality of the fruit When you are buying a banana at the grocery store, do you blindly pick up anything? No way. A green banana and yellow banana means something completely different. Depending on your taste preference, when you plan to eat it, and you want...
by Consultant's Mind | Learning
Where do you see yourself in 5 years?” This is a common question in interviews and I don’t like it. Yes, it serves as a proxy to gauge the candidate’s motivation. Yes, it tests to see if the candidate understands the corporate ladder and title...
by Consultant's Mind | Learning
It’s a provocative title, but BCG argues the case. Digital is more important than ever; it’s where people spend their attention and advertisers place their dollars. Money is abundant. Attention is in short supply. This digital conversation gives marketers...
by Consultant's Mind | Learning
It’s Father’s Day in the US. For those who have/had good fathers, let’s be a little thankful. My dad immigrated to the US in 1968 – made a great life for my family, now lives 4-5 miles from me. Lots of love and guidance over the years. Thanks...
by Consultant's Mind | Learning
Great advice from the HBR editors If you have ever thought (or dreamed) of writing for the Harvard Business Review, then you should read the guidelines from HBR here. As an educator, there are so many things to take away from this blurb on their website. Only 900...
by Consultant's Mind | Learning
3 Types of CEO Listened to a podcast interview here of Reid Hoffman sometime ago, but most distinctly remember his comment about the 3 types of CEOs. As the founder of Linkedin, he enjoyed the CEO role at first, but as the company grew, he enjoyed it less and less....
by Consultant's Mind | Learning
Peter Drucker, the godfather of management Huge fan of Drucker, quite a few blog posts on this titan of thinking. Strategic decision making . . this is one of my favorite quotes of his “The question that faces the strategic decision maker is not ‘what his organization...
by Consultant's Mind | Learning
Generally speaking, I am pretty good under pressure. This can take the form of final revisions the night before the presentation, or conference calls lined up back-to-back. The endorphin gets going and you can ignore the pain. The dopamine gets going and you feel the...
by Consultant's Mind | Learning
Ray Dalio is a billionaire, a genius, a hedge-fund manager, and a “piece of work.” He is not your average guy in any sense. He is a super smart, opinionated “macro” investor who started Bridgewater Associates, one of the largest hedge funds at...
by Consultant's Mind | Learning
Clearly, eloquence has many parts – content, structure, conviction, tone, pacing, empathy, and word choice. Ah, words. Let’s not forget the words. Word inflation. Seems like we are bombarded with words constantly – most of them advertising or loose...
