Thursday, October 29, 2009

The Elevator Pitch

Today I did a practice case with a group of 4 candidates and 1 McKinsey consultant via a conference call. The case wasn't particularly interesting per se. It was a value chain case where a new piece of equipment was purchased that would decrease some production costs and increase efficiencies. There was a simple break even analysis to perform and then a decision to be made as to whether or not to invest in this "cost-saving technology." My particular question came at the very end when I was asked to summarize the case to the COO in the elevator.

To answer this kind of question, I've found it's useful to jot down the major points along the side of the page as you move through the case and then you can run through and hit the highlights in the elevator pitch. I went through all of the highlights and then gave the recommendation to purchase the technology.

What I SHOULD HAVE DONE was to first give my recommendation, back it up with supporting data, and then outline the next steps. The consultant was right when she told me that the COO wants the answer first and doesn't want to listen to the data first, not knowing where it is going to lead.

This is just a quick reminder and something I think will be useful in the interviews...almost every interview will end with asking you what your recommendation is.

4 comments:

  1. Very valuable!

    Keep up the good work,

    Tom

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  2. Considering: Very good work. Really appreciate your efforts. I am a keen aspirant for pursuing Strategic Consulting in the top Consulting firms next year and your posts are certainly a motivation in this regard. I do not have the neceesary resources as you may have, however I would like you to detail how can I equip myself for the interview process next year? (mainly resources and the process)

    Btw, I am a MBA student from Grenoble, France and wish to apply to the european and asian offices of the big consulting firms. Your initial insights will be helpful.

    Thanks
    Rahul

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  3. Hi Rahul,

    I have pretty much given as much advice as I can in the blog here. I have listed resources, described how to practice cases, and gone through the recruiting and interview process in detail. If there is anything SPECIFIC you would like to know, please ask...I think it would be too much work to describe the whole process again in this response. Thanks.

    ReplyDelete
  4. Awesome work.Just wanted to drop a comment and say I am new to your blog and really like what I am reading.Thanks for the share

    ReplyDelete