Spring Semester: Session 1 ELC Consulting Sessions v Spring Semester: Session 1 ELC Consulting Sessions v Source: Haas Consulting Club Casebook

Consulting Overview

Providing research, analysis, and business advice Overview Case Interview Case Practice What is Consulting? Providing research, analysis, and business advice Increasing sales, decreasing costs, organizational design Classified by the project owner CEO = Strategy. CFO = Financial. CTO = Technology Average projects of 3-6 months Work with 4 - 10 person teams Training for business leadership Many CEOs, CTOs and CFOs are former consultants Accelerated career path Senior influence at a very junior level Source: Management Consulted

Top 3 Big 4 Tier 2 Industry Landscape Source: Management Consulted Overview Case Interview Case Practice Industry Landscape Top 3 Big 4 Tier 2 Source: Management Consulted

What do consulting firms look for? Source: Management Consulted

You need to be talking to… Overview Case Interview Case Practice Timeline You need to be talking to… the right person at the right time at the right firm in the right location for the right position Source: Management Consulted

The Case Interview

Interview Types Source: Haas Consulting Club Casebook Overview Case Interview Case Practice Interview Types Source: Haas Consulting Club Casebook

Interview Rounds Source: Haas Consulting Club Casebook Overview Case Interview Case Practice Interview Rounds Source: Haas Consulting Club Casebook

Do’s Dont’s Interview Do’s & Don’ts Overview Case Interview Case Practice Interview Do’s & Don’ts Do’s Arrive 15 minutes early. Be professional: Smile, make eye contact, and maintain good posture Clarify questions Answer the interviewer's questions as specifically as possible Listen. Concentrate not only on the interviewer's words, but also on the tone of voice and body language. Close on a positive note – “What is the next step?” Dont’s Don't interrupt the interviewer Don't be overly familiar, even if the interviewer is Don't ramble Don’t forget to smile Source: Federal Consulting Resources

Online Offline Resources preplounge.com, caseinterview.com, etc. Overview Case Interview Case Practice Your Resources Online preplounge.com, caseinterview.com, etc. Offline Resources Consulting books (Case in Point, LOMS, etc.) University Casebooks (Warthon, Darden, Haas, etc.) One-to-one consulting preparation services (Management Consulted)

Case Practice

Overview Case Interviews Case Practice Market Estimation Case #1 Problem Statement: The client is a firm that considering to enter the traffic signal market in Manhattan, and wants to know what is the Market size of traffic signals in Manhattan last year?

Overview Case Interviews Case Practice Market Estimation Case #2 Problem Statement: We’re going to look at the sales of Pianos in the United States. What do you think annual sales (total revenues) are in the US for Pianos?

Tips for market sizing cases: Overview Case Interviews Case Practice Market Estimation Tips for market sizing cases: There are three types of market sizing cases: population based household based and finally preposterous cases. Start by determining which type of case is it Usually you don’t get a chance to ask clarifying questions during a market sizing case, only as questions when you do not understand the questions or terminology Lay out the framework/structure that you will use to answer the question Make assumptions and breakdown population by demographics relevant to the case. For example, if you are trying to find the number of smartphones sold in the US last year you would break the population down by generation

Overview Case Interviews Case Practice Market Estimation Estimate the number of units of what you are sizing per demographic group. Done through two ways: 1. By estimating the number, per demographic group, that is in need of a new product of what you are sizing, and 2. By estimating the number of replacements and upgrades to new products which depends on the lifecycle of the product (very important to consider). Do the calculations and come up with your estimate! Be prepared to defend your assumptions and framework. Then work the numbers and assumptions in your structure and come up with your estimate (that way you get second a second chance to review your though process) Base your assumptions on some sort of logic; otherwise you could be questioned on how you came up with them. Very important to use numbers that are easy to work with. Remember: the interview is more interested in your logic than whether your assumptions and numbers are spot on.

Key numbers to remember: Overview Case Interviews Case Practice Market Estimation Key numbers to remember: Us population is 320 Million Average Life Expectancy of an American is 80 years Even distribution between ages 80 Million per generation 100 million households (Assuming on average there are 3 people per household)