ADVANCED PROFESSIONAL DEGREE CONSULTING CLUB Kick-Off Event 2015

Agenda Introduction to Consulting The Club Upcoming Events Internship Program Q&A Social hour

WHAT IS CONSULTING?

Serving the client to solve complex business problems Your client is the owner of a local brewery who has sold craft beer in Minneapolis for the last 5 years. The brewery has suffered declining profitability in the last few years. Your client has approached you to help him determine how to remedy this situation.

Wide range of industries

Consultant lifestyle Pros: Challenging work Dynamic environment Career development Learn about new industries Work in diverse teams Good compensation Cons: Lots of traveling Stressful Not always rewarding

What is it exactly like? Source: McKinsey Presentation

Consulting firms that may recruit APD holders

Business background? At McKinsey, 1/3 of hires are APD’s. What are companies looking for: Problem-solving capabilities Collecting and analyzing data Intellectual curiosity Expertise in a field Leadership skills No business experience is required!

Career Path

2016 Recruiting Checklist for APD Candidates ExploringApplicationsInterview Prep April  Research firms as needed (Wetfeet, company websites)  Review resume with career coaches  Develop plan for full-time recruiting  Develop plan for case and fit/behavioral prep (goals, journal to track progress, timeline, resources list)  Run 2-3 cases May  Info intervitews wih at least 2 consultants from target firms  Draft cover letters, review with career coaches  Read “Case in Point,” listen to “Look Over My Shoulder”  Read other case prep materials (see resources list)  Run 5-10 cases  Build personal brand, stories for behavioral Qs, practice answering in STAR format June  Stay in touch with other 1 st years during internships  Info interviews with at least 2 consultants from target firms  Work with career coaches to polish resumes and cover letters, draft apps  Run cases with classmates, others. Include 1 fit question at beginning of every case.  Practice fit/behavioral questions with classmates, career coaches July  Stay in touch with target firms. Get feedback on interview skills, resume, cover letters from warm contacts at target firms  Applications due - McKinsey  Run 5-10 cases  Include 1 fit question at beginning of every case. Aug  Stay in touch with target firms. Get feedback from warm contacts.  Applications due – BCG, others  Interviews – McKinsey, others  Mock interviews with classmates, career coaches  Mock interviews with firms Sept  Interviews – McKinsey, others  Mock interviews with career coaches, firms Oct  Interviews 11

APDCC Recruiting dates approaching for APD students 12 Application Deadlines: McKinsey: July 20 BCG: August 10 Others: Reach out to the firms Interviews: McKinsey: August BCG: Aug & Sept Others: Aug – Sept

Important resources Casebooks from major business schools Case Interview Secrets by Victor Cheng Case In Point by Marc Cosentino Masterthecase website Other books: The Principle of Pyramid, The McKinsey Way, The McKinsey Mind, Vault Career Guide to Consulting, Crack the Case System

THE CLUB

The APDCC – mission Facilitate – Offer a forum for APD students to grow professionally in preparation for consulting careers. Network – Create an alumni network of APD consultants. Educate – Create greater awareness among APD students about careers in consulting.

The APDCC – get involved! Upcoming events Info sessions by consulting firm representatives General business seminars Case interview workshop Internship program

Internship project timeline Project conception Refinement and team selection Strategy development Recommendations Execution /follow-up A business need is identified and a project idea is generated APDCC and business work to define project goals A team of students is selected for the project engagement Project managers to assess current practices and provide actionable item recommendations Project development Consultant engagement (typically 8-10 weeks) Projects may include execution goals for the consultant team Monitoring may also be performed to evaluate the strategy recommendations Strategy monitoring (variable)

Internship project opportunities  market research  cost/benefit analysis  social media strategies  competitive landscape analysis  business valuations  data analysis  online sales strategies  product launch  operations evaluations Value Businesses and organizations get smart, motivated, professional degree students to help them! Students have a chance to apply the skills and knowledge acquired in the classroom to real issues facing local businesses.

2015 projects Client Needs: Market development strategy to spur international growth of Biovest’s instrument business Actions and/or Outcomes: Evaluate the current position and potential market opportunity for Biovest’s Instrument business in Europe and Japan Identify major competitors in these markets and potential distribution channels that could be leveraged for market expansion Recommend a market expansion strategy that will help Biovest increase their instrument sales in these two markets Client: Biovest Magic Arms for the World

Q&A Website: Facebook & LinkedIn: University of Minnesota Advanced Professional Degree Consulting Club