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Notes on "The Mckinsey mind"

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Notes taken on the book "The McKinsey Mind" por Ethan M. Rasiel e Paul N. Friga.

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Notes on "The Mckinsey mind"

  1. 1. The McKinsey Mind
  2. 2. Analyzing  Framing 1. Structure a. MECE: Mutually Exclusive, Collectively Exaustive b. Don’t Reinvent the wheel c. Every problem is different d. Logic Tree (brake down your problem) 2. Hypothesis a. Solve the problem at the first meeting b. Proper prior preparation c. Brainstorming d. QDT – Quick Dirty Test (what assumptions are you making that need to be true in order for your hypothesis to be true? Any fake one?) e. Issue Tree (prove your hypothesis)
  3. 3. Analyzing  Designing 1. Let your hypothesis determine your analysis 2. Get your analytical priorities straight 3. Forget about absolute precision 4. Triangulate around tough problems 5. Issue Work plan: Issue / Hypothesis Analyses Data Sources End Product Responsability Due date Yes/No question How to answer the Issue Where to gather data Format (chart, list, table, spreadsheet etc) Who will do it When will it be delivered?
  4. 4. Analyzing  Gathering 1. Research strategy and tools a. Use all facts even if you don’t like them b. Don’t accept “I have no idea” c. Specific: i) Start with the annual report ii) Look for outliers iii) Look for best practices d. Application: i) Diagnose the data orientation of your organization ii) Demonstrate the power of good facts iii) Build the proper infrastructure
  5. 5. Analyzing  Gathering 2. Interviewing a. Be prepared: write na interview guide b. Listen and guide c. Seven tips: i) Have the interviewee’s boss set up the meeting ii) Interview in pairs iii) Listen, don’t lead iv) Paraphrase, paraphrase, paraphrase v) Use the indirect approach vi) Don’t ask for too much vii) Adopt the “Columbo tatic” (ask something important else when leaving – “ah! One more thing!”) d. Don’t leave the interviewee naked e. Always write a thank-you note
  6. 6. Analyzing  Gathering 3. Knowledge Management (KM) a. Don’t reinvent the wheel b. Infrastructure • Physical kayout • Hierarchy • KM Programs Technology • Role of IT in KM • IT tools Culture • Undestanding • Support • Incentives • Interaction
  7. 7. Analyzing  Interpreting 1. 80/20 rule 2. Make a chart every day 3. Don’t make the facts fit your solution 4. Always ask “What’s the so what?” 5. Make sure the solution fits your client (can it be implemented?) a. See through your client’s eyes b. Respect the limits of your client’s abilities and policy
  8. 8. 1. Be structured a. MECE b. Conclusions first (“X because of A, B and C.” Instead of “A is true, B is true, C is true, so we have X.”) – Logic tree Presenting  Structure 2. The elevator test: understand your solution in a way you could explain it in 30 seconds. 3. Keep it simple: one data per chart a. Charts, drawings, models worth a thousand words b. Document your data source in the chart Conclusion / Recomendation “Because of...” 1 “Because of...” 3 “Because of...” 2
  9. 9. Presenting  Buy in 1. Prewire everything – Avoid surprises a. Preview the presentation with all stakeholders beforehand 2. Tailor your presentation to your audience a. Every audience is different, make sure your presentation fits your audience
  10. 10. Managing  Team 1. Getting the mix right Different and complementary backgrounds 2. Recruiting McKinsey-style a. Whom should we hire? – What are the business needs b. Structure – apply the elevator test on the job description/tasks c. Consider potential ability. d. How should we hire them? – Where will we find such professional 3. Comunications a. Listen more than you talk b. Be carefull on how to say it c. Overcommunication is better than undercommunication 4. Bonding a. Spend time together (but not much) – a little team bonding goes a long way. Pay attention to culture. b. Reward well
  11. 11. Managing  Team 5. Development a. Set high expectations b. Evaluate regularly, and make it balanced (positive and negative comments) c. Implementation: 1. Identify organizational objectives 2. Communicate these expectations to employees 3. Frequency and type of feedback
  12. 12. 1. Obtaining clients a. Sell without selling: create a pull rather than a push demand. – Market and make your clients come to you. b. Be carefull what you promise: structuring and engagement c. Identify the client 2. Maintaining clients a. Create involvement opportunities 1. Engage the client in the process 2. Always look over your shoulder 3. Keep the client team on your side 4. Learn to deal with liability client team members 5. Pluck the low-hanging fruit 6. Get buy-in throughout the organization Managing  Client
  13. 13. 3. Retaining Clients a. Be rigorous about the implementation of the solutions b. Share and then transfer responsability to the client c. Make the client a hero – it’s HIS project, not yours. Managing  Client
  14. 14. Managing  Self 1. Professional life: a. Get a mentor b. Hit singles (don’t try to do everything good) c. Make your boss look good d. Get an good assistance e. Delegate around your limitations f. Make the most of your network 1. Personal life a. Respect your time - lay down some rules b. Perform sanity checks (is it worth it)