2. Getting the job done
Managing up
The perfect client meeting
Developing personal style
Building a rewarding career
Key takeawaysAgenda2GreatAC
3. Getting the job done
Managing up
The perfect client meeting
Developing personal style
Building a rewarding career
Key takeawaysAgenda3GreatAC
4. Bain caseteams address a considerable range of strategic issues.Strategy consultingCorporate strategyBusiness unit strategyPerformance improvementHow should a company with many businesses achieve its growth objectives?How should a business unit respond to its competitors?How many manufacturing plants does a company need?
What products should client produce in each plant?Example:Types of Strategic Issues4GreatAC
5. CompoutekAxels-4-RentBusiness problem:Answer:First-year AC workstream:Length of case:AC travel:Business unit strategy (PC business unit)Exit the retail PC market
Cut costs through complexity reduction
Implement process and organization redesignPhone competitors to gather data about the PC market
Analyze client data relating to accounts receivable and inventory turns
Build economic modelThree monthsMonthly local visits to client to gather data and attend meetingsCorporate strategy (growth strategy)Target and retain most profitable customers through marketing programs and travel agent commission structures
Focus on corporate accounts that are already penetrated, but are currently underperforming in share targetsSize rental car market based on secondary research and customer surveys
Splice and dice client customer database to establish segments
Research other companies’ retention programs (e.g., airlines' frequent flyer)Six monthsWeekly trips to NYC for client task force meetingsExample of Caseteam Assignments5GreatAC
6. Caseteam CoordinatorVice-PresidentManager/CTLExperienced ConsultantNew ACNew ConsultantExperienced ACWhile you may frequently encounter variations, a typical caseteam structure looks like the following:Caseteam Structure6GreatAC
7. Your mix of responsibilities will vary from case to case.The jobResearch/data gatheringAnalysisCommunicationTeamMarket size and dynamics
Competitors
Client data
CustomersDatabase manipulation
Models in Excel
Regressions
Data into appropriate slide format
Arriving at the strategic answerBlank slides
storyline
proper format
Oral communication
informal team meetings with consultant/manger
overheads to caseteamCoordinating workstreams with other ACs/consultants
Participating in team brainstorming sessions and team meetings
Overseeing production for presentations
Caseteam eventsAreas of Responsibility7GreatAC
8. Flawless execution will destine ACs for greatness. They capitalize on the resources available to them, and show a willingness to do whatever it takes to get the job done.Get the job doneExecute on your workplanCommunicate upUnderstand the “Big Picture”Deliver with zero defectsDevelop and update your workplan
Keep an 80/20 fallback plan
Execute - focus on the assigned task
After 6-12 months, take a more active role in intellectual leadership of your piece of workCommunicate regularly and frequently with your manager
use Answer-First and 80/20
tag “red flags”
seek help prioritizing
leverage manager to add additional 10% insightAlways “know the why” in the context of the “Big Picture”Perform zero defect analysis
document everything
proof, proof, proof
reality checkKey Success Factors8GreatAC
9. Always “know the why” in the context of the “Big Picture”.Why are you doing this work?
what is the "Big Picture"?
where is the value?
what is the client expecting?
What does your analysis mean and why is it important to the client?
What are likely questions to be asked of you?
by your team
by your client(s)
What sensitivity analyses illustrate responses to potential questions or clarify issues for you?
what about client sensitivity analyses?
What reality checks can you do to demonstrate knowledge of the why?
use of 80/20
benchmarks
focus of your quality checks“Know the Why”9GreatAC
10. A recent experience at SAC training illustrates the importance of “knowing the why” in the context of the “Big Picture”.Develop presentation on business unit strategyAssignment:The client can be profitable and should milk its businessHypothesis:Market is growing
Client has low cost position
Competitors not a threat
next largest player higher costAssertions:“We can do a BDP to figure out where our client can lower costs”
“Costs are relatively similar”SACs’ reaction:Data:What did they miss?RCPQuestion:ClientCompetitor4.804.905.604.500246Big Picture - “Know the Why”: Example (1 of 2)10GreatAC
11. More on “knowing the why” - what the ACs missed….“We can do a BDP to figure out where our client can lower costs”
“Costs are relatively similar”SACs’ reaction:Competitor is lowest cost
Competitor can lower price to gain share
“Milk” is not a feasible strategyWhat they missed:Evaluate the competitive threat, not design “milking” strategyNext step:Data:This team got caught up in the details of the analysis
Need to step back and look at “Big Picture”Lesson learned:RCPClientCompetitor4.804.905.604.500246Big Picture - “Know the Why”: Example (2 of 2)11GreatAC
12. After you have performed your analysis, stepping back is essential to getting the Big Picture in focus.Double check your output
Are these results surprising? Why?
Does this all make sense?
Put the results on a slide or slides
Is there a "so what" from the slide?
What are the implications?
What could client responses be?
concerns/threats
confusion
Is there a better way to present the data?
audience
better representation of key point(s)
What does this mean for the client?
How does this fit in with Bain's work?
What is the best way to articulate the key takeaways of the slide:
what is your manager expecting?
how does this analysis fit into the larger case question(s)?Presenting your data well can be more difficult than performing analysisStepping Back12GreatAC
13. Getting the job done
Managing up
The perfect client meeting
Developing personal style
Building a rewarding career
Key takeawaysAgenda13GreatAC
14. Hi, Manager,What do youwant to talkabout today?I’m sorry but Ican’t give you that info for your update today—theclient hasn’t given me the data.I had to stay upall night becausemy manager keptadding to my listof things to do!I think the answeris $650M, but can’t remember—but don’t worry,I have it atmy desk!I don’t know how I’m going to do this market map. None of these companies are public.What’s Wrong With This Picture? (1 of 6)14GreatAC
15. Problem:BDP:No agendaCome with objectives and agendaHi, Manager,What do youwant to talkabout today?I’m sorry but Ican’t give you that info for your update today—theclient hasn’t given me the data.I had to stay upall night becausemy manager keptadding to my listof things to do!I think the answeris $650M, but can’t remember—but don’t worry,I have it atmy desk!I don’t know how I’m going to do this market map. None of these companies are public.What’s Wrong With This Picture? (2 of 6)15GreatAC
16. Problem:BDP:Did not inform manager of roadblocksProvide your manager with frequent updatesHi, Manager,What do youwant to talkabout today?I’m sorry but I can’t give you that info for your update today— the client hasn’t given me the data.I had to stay upall night becausemy manager keptadding to my listof things to do!I think the answeris $650M, but can’t remember—but don’t worry,I have it atmy desk!I don’t know how I’m going to do this market map. None of these companies are public.What’s Wrong With This Picture? (3 of 6) 16GreatAC
17. Problem:BDP:Did not ask for prioritizationAsk manager to reprioritize whenever new work is added to the workplan
Let manager know if work is taking longer than anticipatedHi, Manager,What do youwant to talkabout today?I’m sorry but I can’t give you that info for your update today— the client hasn’t given me the data.I had to stay upall night becausemy manager keptadding to my listof things to do!I think the answeris $650M, but can’t remember—but don’t worry,I have it atmy desk!I don’t know how I’m going to do this market map. None of these companies are public.What’s Wrong With This Picture? (4 of 6)17GreatAC
18. Problem:BDP:No back upAlways bring backupHi, Manager,What do youwant to talkabout today?I’m sorry but I can’t give you that info for your update today— the client hasn’t given me the data.I had to stay upall night becausemy manager keptadding to my listof things to do!I think the answeris $650M, but can’t remember—but don’t worry,I have it atmy desk!I don’t know how I’m going to do this market map. None of these companies are public.What’s Wrong With This Picture? (5 of 6)18GreatAC
19. Problem:BDP:Not pushing issues to recommendationsIf you run into roadblocks, brainstorm and offer alternativesHi, Manager,What do youwant to talkabout today?I’m sorry but I can’t give you that info for your update today— the client hasn’t given me the data.I had to stay upall night becausemy manager keptadding to my listof things to do!I think the answeris $650M, but can’t remember—but don’t worry,I have it atmy desk!I don’t know how I’m going to do this market map. None of these companies are public.What’s Wrong With This Picture? (6 of 6)19GreatAC
20. “Push back” are words you will hear often. When Pushing Back May Be AppropriateWhen Pushing Back May Not Be AppropriateYou did the same analysis last week (and the week before)
You have a good relationship with your consultant/CTL/manager and believe this analysis is unnecessary
You've been nonstop, without sleep working on this case for 72 hours
Some people on your team have been complaining about too much free time and you've been crunching past midnight for the last two weeks
You're on vacation
It is unclear to you how the analysis fits into the greater picture/overall case objectives
Your supervisor is being unnecessarily demandingIt's your first week on the case
You don't know how to do the analysis (ask)
You really want to ski/go to the beach tomorrow
You've been devoting most of your time to your other side
You just got back from vacation
You're sick of this case
You don't like the consultant you're working with
The work is/appears boring or mundane
There are no other resources available to complete piece of work
You believe you're too smart for the type of work required
You told your roommate you would meet her for drinks at 6:30Advice on Pushing Back20GreatAC
21. You know there's a preez on Monday, but you have plans to go skiing for the weekendIt’s time to be a team player - especially if this preez has been on the calendar for a whileSituationSolutionOffer to (1) return after your dinner and (2) come in earlier than the rest of the team to compensate
Let your manager know that your aerobics is important to you, but also show some flexibility
Go to your doctor’s appointment. As a rule, let your manager know if you will be out of the office for a considerable length of timeYou know the rest of the team is here crunching, but you would really like to have dinner with a friend who’s in town just for todayYou want to go to my morning aerobics class, but your manager calls a last minute a caseteam meeting for that timeYou have an important doctor’s appointment, but your manager just scheduled a client meeting that you need to attend with herPushing Back: Examples21GreatAC
22. Getting the job done
Managing up
The perfect client meeting
Developing personal style
Building a rewarding career
Key takeawaysAgenda22GreatAC
23. Preparation
packingThe AC roleEnsuring the perfect client meetingPreparation: back up & logisticsEnsuring the Perfect Client Meeting23GreatAC
24. Maintain back-up book and leave audit trail at all times (don't wait until presentation is over!)
make back-up user-friendly
include sensitivity analyses and other analyses beyond material shown
anticipate questions have a cheat sheet
Make copies (when appropriate)
let your team take notes
can use copies to make changes
number pages (blue pencils don't copy)
Carry necessary supplies to make corrections, calculations, measurements
Anticipate problems (client copiers, broken staplers, etc.)
Bring relevant case work "outside of presentation"
older work
annual reports, financials
sample surveys, models
table of contents
Keep desk/files organized so team members can find needed materials when you are out of the officeGood preparation for client meetings is an investment with astronomical returns.Preparation (Back-up)24GreatAC
25. Know logistics
travel plans and options
meeting times and locations
directions
phone numbers and contacts
Know your position: be prepared to
pay for petty cash items
offer to drive rental cars
coordinate last-minute emergencies/travel changes
Never make anyone wait for you
travel tip: don’t check baggage
slows you down in airports
leaves you at risk for lost baggagePrepare to be the logistics point person for client meetings. Assuming that “someone” has taken care of logistics is a prelude to disaster.Preparation (Logistics)25GreatAC
26. Open your briefcase - list its contents
What would you add if you were traveling to a client presentation tomorrow?
Compare your answer to “The Ultimate Travel Package,” which followsPreparation Packaging (Exercise)26GreatAC
27. Pack your briefcase to cover a wide range of contingencies. Don’t make assumptions about what other team members “should” be carrying. And remember: a hand-drawn slide of last-minute insights is better than a fully-produced slide of errors.“The Ultimate Travel Package”Contact informationToolsOffice suppliesBain and client phone lists
Business cards
Daily calendarCalculator
PC
power cord
phone plug
files downloadedClear blank acetates
Graph paper
Writing paper/ note pad
Soft lead mechanical pencils
RulerWhite-out tape (thick and thin)
Paper clips
Binder clips
Rubber eraser
Manila folders
Black slide pens (fineline and thickline)
“The Ultimate Travel Package”27GreatAC
28. Review and prepare appropriately to meet the objectives of the client visit
understand expectations of your participation (what are you supposed to gain from/contribute to the meeting)
Gauge your degree of participation to the meetings make-up
as a rule of thumb, the higher the level of clients involved, the less you will talk
If your analysis/area of expertise is being discussed, offer
insights
relevant discoveries
questions
Ask your manager or CTL what role you ought to play
at the very least, play the role of engaged observer
If you have client maps attending
take the opportunity to build the relationship
make sure you prewire
get reaction/feedback
Always take notes (preparing a summary may be helpful)
Always carefully think about what you say and do
age is frequently a liability
Always be attentive/engaged (don't fall asleep or daydream)
Your involvement at the client will depend on your team's style, but in general:Your Role in the Client Meeting28GreatAC
29. Getting the job done
Managing up
The perfect client meeting
Developing personal style
Building a rewarding career
Key takeawaysAgenda29GreatAC
30. Style (self-projection)Self presentationPreparationSelf-managementCommunicationDeveloping Personal Style30GreatAC
31. Bain's culture and relative youth make it easy to forget the importance of self presentation, especially in non-office setting.Convey confidence, not arrogance
make eye contact
enunciate clearly
project a "can-do" attitude
challenge constructively - ask questions
Create a presence
remember that "professional" does not equal "no personality"
interact with others around you
Make yourself available during reasonable hours
don't abuse the no face time policy
Dress professionally in line with office and client normsSelf Presentation31GreatAC
32. Successful ACs regard self-preparation as fundamental to projecting an image of competence, engagement and professionalism.When you meet with others bring
calendar
HP12C
notepad
your brain
For caseteam meetings
understand what issues will be covered
talk with supervisor about what you should cover
bring relevant materials
determine appropriate levels of detail
be able to talk about implications of your analysis, next steps, etc.
For client meetings
look and be organized: make sure you have the relevant pieces of analysis
be prepared to answer questions about sources/methodologies
know how to explain your slides
presentation layout (e.g., marimekko, growth share matrix)
how analysis was done (if asked)
key takeaway/insightPreparation32GreatAC
33. From the start, one of the most visible images you will project is your ability to meet deadlines on time for calls and meetings
Make sure you clearly understand your deliverables and when they are needed
If you anticipate problems in meeting a deadline, let people know before you're late
Never keep anyone waitingSelf Management: Time and Timelines33GreatAC
34. Since we are a culture dependent on voicemails, mastering the art of leaving voicemails is vital. Keep them brief and to the point
use Answer-First
if you need to cover a lot of material, outline first
what is the minimum you need to say to convey your message?
Gauge message to target audience
managers and VPs don't have a lot of time - or patience - for long messages
"urgent" means different things to different people
Change your message, when appropriate
out of the office for a day or two - change your daily greeting
on vacation, out for a week, etc.: use an extended-absence greeting and tell people whether or not you will be checking your messages
Answer/act upon voicemails in a timely mannerCommunication: Voicemail Tactics34GreatAC
35. Getting the job done
Managing up
The perfect client meeting
Developing personal style
Building a rewarding career
Key takeawaysAgenda35GreatAC
36. The role of the new ACRole evolutionCoachingNon-case opportu-nitiesUps and downsPeople resourcesAC roleProfessional growthLife balanceA rewarding careerCreating a Rewarding Career36GreatAC
37. Relative Emphasis within TeamManage productionInformation gathering/data collectionAnalysisCoordinate with CTCs and Graphics
Keep control deck, assemble black-book, when necessary
Quality control, quality control, quality control
Proof, proof, proofIdentify/read/summarize relevant information
Utilize multiple sources (including alternative - Internet, expert groups, etc.)
Leverage past Bain work on other teams (BRAVA)
Sift through client data for relevant information Pull information and data together in meaningful fashion - where are gaps/opportunities?
Develop hypothesis of possible outcomes
Understand trends and shifts in marketplace
Model trends to determine likely outcomes
Look for different ways of cutting data
Organize analysis into meaningful stories
Link to overall caseteam questions/objectives
Execute zero-defect analysisArticulate case objectives
Blank slide analytical loop
Execute on analysis
Update manager appropriatelyWorkstream ownershipThe Role of the New AC37GreatAC
38. Over time, you will assume more responsibility for the analytical aspects of the work. You should take ownership of your work earlier than expected and constantly aim to over-deliver.Likely responsibilities:Likely direct contacts:Relationship/ place on team:First few monthsSix monthsOne yearTwo yearsSACManaging production
Data collection
Basic analysisBasic analysis
Data collection
ProductionInput to workstream
Complex analysis
Data collection
ProductionOwn workstream
Storylines
Complex analysis
Data collectionWork with new ACs
Own workstream
Storylines
Complex analysisConsultants
Senior ACsConsultants
Managers/ CTLsSenior consultants
Managers/ CTLsManagers/ CTLs
VPsInformation absorber
Adjusting to Bain cultureDeveloping expertise
Base to mid-level client contactResource to newer team members
Mid-level client contactInterface/prewire with clients
Resource to newer team membersSupervisor of new members
Direct client mapConsultants
Experienced ACsRole Evolution38GreatAC
39. As you learn the job, your role in driving to the answer will expand.Analysis/ execution of workstreamBlank slidesfor workstreamCase hypothesisNext steps for workstreamChanges in AC Focus Over Time39GreatAC
40. Regular informal and formal feedback is essential to your professional development.Start with a skillplan
Your colleagues want you to succeed and frequently they have comments and suggestions they can share with you
be aggressive, yet balanced, in asking for feedback
follow-up after you have tried to make changes
Some managers offer only constructive criticism - others offer only positive feedback
ask for both sides of the story
if you aren't getting enough feedback, tell your potential feedback sources or bring up the issue in the caseteam surveys
Tips for getting feedback
ask immediately after meetings/presentations
travel with your supervisor - you have a captive audience
ask other team members
Upward feedback let others know if things are not working
upward feedback forms
direct one-on-one
staffing manager
caseteam surveyCoaching - Getting and Soliciting Feedback40GreatAC
41. An essential component of your professional growth will be the quality of the feedback you receive from your colleagues.Your review is compiled from formal input solicited from people you've worked with on caseteams or non-case work
Ratings are determined by consensus at a meeting of managers and VPs based on performance relative to a set of standards
The first six months are considered a grace period - the only official standard is pass/fail
Keep the process in perspective
focus on learning a lot, being challenged, and having funCoaching - Review/Rating Process41GreatAC
42. You are encouraged to look for opportunities to add the “extra 10%” to enhance the quality of life at Bain beyond your case work.Get involved in Bain outside your case work
Recruiting
Training
Colleagues
non-profit/pro bono work
internal asset-building projects
“brownbag” lunches
studies
Take the initiative - don't wait to be asked to get involved
Bain recognizes you for your involvement in non-case work and provides ample opportunitiesHave fun
Demonstrate leadership
Build/strengthen Bain relationshipsNon-Case Opportunities42GreatAC
43. AttitudeGreat!Ugh!Pre ACTFirst caseRecruitingSecond caseBalancing two cases is hard!Double preez (same day!)Catching up on sleepClients liked workNew caseVacationCatching up!Understand new roleEnjoying casesShouldn't it be summer?Should I have gone to grad school?Error in analysisNot such a big errorFound new insightCreating own loopsCompany meetingLeft PC on planeYou won’t always love your job….Professional Growth (Ups and Downs)43GreatAC
44. Your peers are a rich, low risk source of information, feedback and experience.Leveraging the knowledge of your peers
adds to your efficiency
gives you others to bounce ideas/questions off of
is low risk
helps you learn from others experience
accelerates learning process
provides best data sources in industry, explanation of specific type of analysis
Multi-level bay environment is set up for this purpose
consultants (experienced and new)
ACs (experienced and new)
Colleagues
excellent source for answers about Bain
great for "stupid" questionsPeople Resources - Peers44GreatAC
45. Consult people you work with on your caseteam, but also take into consideration value of their time.Fellow ACsSACNew consultantExperienced consultantManager/CTLVPLeverage as a resourceLeverage their timeLeverage the time of those above you
send short, focused voicemails
push work to limit before meetings
framework for questions
”This is my question. Here are the options, I believe this is the correct approach for the following reasons...I rejected the others for the following reasons..."
think about issues
talk with consultant, then manager/CTL
Leverage the knowledge of people on your team
fellow ACs on different workstreams first
bounce ideas off consultantsPeople Resources - Caseteam45GreatAC
46. A team is more than just consulting staff...Library
CTC
Graphics
Mailroom/Copy Center/Facilities
MIS
Travel
Receptionist/MCOs
Training
HR
Finance
RecruitingThe better your relationships with the Bain support network, the easier your job will bePeople Resources - Support Network46GreatAC
47. Look at the Bain community beyond your caseteam as a resource for personal and professional growth.Meeting and interacting with people outside your caseteam (in addition to other first-year ACs) is valuable
gives you a broader perspective on Bain (in and outside your office)
gives you a chance to learn what other caseteams are working on
teaches you about the success/problems that they experienced
helps tremendously with informal staffing process
people to talk to about pending cases
gives you an additional source of advice and information
sometimes issues arise on your case and it's useful to have someone else to talk to with you whom feel comfortable
There are lots of opportunities to meet people at Bain:
bay parties
office parties/functions
recruiting functions
caseteam events
training
volunteer activitiesPeople Resources - Informal Relationships47GreatAC
48. Proactively managing life balance is a way to sustain your Bain career.Determine what’s important to you
Communicate your needs to your team
set expectations up front
okay to push back, depending on situation
be reasonable and responsible
Take vacations and breaks
Don’t be afraid to follow your passions (besides adding value to your clients)
Paul AC acted in a play
Kay Consultant took four months off to swim competitively
Sue AC signed up with colleagues for Thursday night wine tasting course
Karen SAC took weekly kickboxing lessonsLife Balance48GreatAC
49. Working 80 hours a week makes you a starMyth:Truth:Getting your work done and done well makes you a star
if you have no life, you will not like this job
if you do not like the job, you will not do good work
if you do not do good work, you will not be a starSomeone is monitoring your hoursMyth:Truth:If you get your work done, no one caresIf I never do a cash flow/complicated model/RCP, I'll never be a good ACMyth:Truth:You are evaluated on how well you perform the work you need to do, not on all the types of tools you didn't useDebunking Some Myths49GreatAC
50. Getting the job done
Managing up
The perfect client meeting
Developing personal style
Building a rewarding career
Key takeawaysAgenda50GreatAC
51. “New ACs need to pay attention to the details. It is absolutely essential that they put their decimals in the right place, label their axes, use the right units, and avoid careless errors in calculations. One or two careless errors can really affect our credibility.”
“To be an exceptional AC, you need to ‘be at cause.’ That is, you need to take the initiative and assume complete responsibility for understanding an area and its issues.”
“ACs need to be creative. Look at issues from a different perspective. Be thoughtful about how to use data and analysis. Break the mold and look for new paradigms.”“Plan before doing any work. Stop. Plan. Execute.”
“There is a direct correlation between zero defect and time management/planning.”
“Get done what you’ve been asked to do, first. Listen. Execute. Add.”
“Communicate the timeliness required to get the job done. You know the work better than anyone else, and no one wants you working all the time.”“Always ask, ‘Why am I doing this?”
“If you can’t picture the output, ask.”
“Reality checking should be a way of life.”On execution:On planning:On stepping back:Takeaways: Insights from Your Predecessors (1 of 2)51GreatAC
52. “Keep your manager/CTL updated on roadblocks.”
“Don’t just communicate problems. Always suggest alternatives.”
“If you don’t understand, ask.”
“You need to overstructure your communications. And overcommunicate.”
“Observe voicemail etiquette:
On communication:On life balance:Keep it brief
Communicate degree of urgency (FYI vs. need for immediate attention)
Use the ‘urgent’ delivery option judiciously. Remember who you are sending the voicemail to.
Default to Answer-First. Say what you need to say up front. Outline and organize your thoughts before picking up the telephone.”“Remember - it’s a marathon, not a sprint.”
“Have fun.”
“Get a life once in awhile.”
“Work on the interest. Don’t exhaust your capital.”Takeaways: Insights from Your Predecessors (2 of 2)52GreatAC