What the heck does a consultant DO, exactly?
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- čas přidán 9. 07. 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.
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Time Stamps:
0:00 Intro
1:23 Process behind a consultant’s work
5:45 Detailed example of the cement project
16:18 Outro
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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?
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! ^^
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. ^^
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).
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.
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!
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!!
Crisp and Clearly explained. Thank you for this video! This will help me a long way
Kim, your video is pure gold in terms of perspective into what consultants do! Keep up the great work!!
Thoroughly put and overwhelming information, truly eye-opening!
thanks a lot for putting it together
5 years later and still super helpful! Thank you!
Hope to hear this even 5 years from now ^^.
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.
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?
Thank you for the video with great visuals to help process the information!
My gosh! This is a great deal of info. Well detailed and simplified. Thanks so much for sharing.
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?
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/?
Thank you for making this video! Very insightful :)
Hi Kim, Great video, thank you for taking the time to explain in such a good way. All the best
thanks and great efforts by u making it. I really appreciate this.
this video is absolutely amazing and extremely insightful! thank you!!!
Excellent insight and positive thinking. Thank you for this.
Perfect. This is exactly what I wanted to understand about consulting work instead of the fix business problems analogy. Thank you!
You're welcome!!
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.
So glad I found this. Thank you so much!
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!
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 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.
Thank you very very much! It was very helpful!!!!
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!
Excellent insight, thank you for this video.
thank you so much! this video is incredibly helpful!
Glad it was helpful! Keep watching more ^^.
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 so much for the very detailed video. It really helps me understand consulting field.
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!
Excellent presentation! Thank you!!!
This video expanded the horizons of my thought process.Thanks a lot!
This channel is awesome! Thank you for the good work. Happy holidays :)
This comment is awesome! Thank you for the nice one. Happy holidays :)
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 ^^.
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.
damn that was some great content. loved it. you are great. love you
Haha, I love you too^^
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Thank you for the insights !!
thank u for such deep insight you made in to the concept
Wow! That was awesome! This video really helped me understand the career for which I am preparing. Thanks!
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.
I was hoping to find a decent video explaining what consultants do. What I found is simply amazing, thank you very much.
Thank you very much for this content. Look forward to more.
Awesome!!!
Thank you for sharing! Helped me a lot!
You're welcome!
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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
Very insightful video! Thank you
amazing, thanks for sharing!!
Seriously the best explanation of management consulting I’ve seen! Nice work!
thank you thank you thank you^^
great video! i can really see now how this could apply to the skills I'm learning in college. THANKS!
This was hugely helpful thank you!
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!
Thanks for this video man. I was always confused in this.
Glad to hear that man^^
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 is the best explanation of what a management consultant does
Holy shit. This was so eye opening! Thanks for the awesome video!
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 ^^.
This was fantastic!😊
This is great! Well done!
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!
Thanks a lot, very helpful video!
Very helpful, thank you!
This clip answered just so many questions I had - muchas gracias!
de nada my dear;)
Million times better explained than any info session I have attended. Absolutely brilliant work...
Iam happy that this video helps ^^
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^^
thank you very much for this insightful video. This has surely aided me in confirming my future career choice :)
Thank You. That was very informative.
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 :(
That was very helpful and knowledgeable...Thanks..Keep it up
Very helpful !!!
What sort of time frame did this span? And were you working multiple cases at the same time or just dedicated to this one?
Thanks for the sharing Kim! though i'm not in the consulting industry, i still found it useful in the career development.
very informative! thank you!
Love these videos! Eager to watch the slide writing video, keep it up! :)
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!
What exactly do u read please can u share because I like analysing numbers but I just hate to look for data and find data!!!
Thanks for putting up this video
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 ^^.
thank you such a useful material
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.
very very helpful ! thank you
You just earned a sub. Great video!
Thank youuuuu
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!
Great video!!! Congratulations! Very aligned to the MCI - Management Consulting Institute methodology. Using SCQ and MACE!!
Thank you!This is amazing!🌈🍭🌏
That was an extremely insightful video
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.
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?
I worked at a boutique management consultant firm and I was also required to talk to experts, or the like. The thing is, we didn't have a backlog of these experts, so I had to email these random people asking for their help, without offering financial reward, which meant I had to persuade them or beg them. Is this what happens in an actual management consultant? Or do they actually have a backlog of experts or people they can employ (pay) in order to use their information? In other words, would getting hold of these experts not be the issue, but instead finding and realising the problem as well as breaking it down the actual job of a consultant?
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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. :-)
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This video is amazing thank you
Fantastic!
Very helpful thank you.