Consultants are hired to help a company grow
Most of the time the primary mission of a company is to grow. The executives who manage the company are incentivized to grow it. When they need help fulfilling this mission, sometimes they turn to external consultancies.
When they evaluate consulting firms to help them grow, the primary question is:
"How will it help me scale"
"These are the things that are going to de-risk the business and drive returns"
Some things I heard executives say on interviews:
- "What is the full potential?"
- Launching a new product is high stakes
- How will it help me scale?
- Whatever number worked last year won't work this year. And this year's number won't work next year.
- Likes when he hears "You probably have 5-10X upside if you do these things better."
- "Let's do a growth analysis, growth potential. A growth potential package."
Important to note here: nobody will begin the search for a consultant by saying "I need a segmented cohort LTV analysis". They will think "What is the full potential?" And a firm will land the job by making them comfortable that the question can be answered.
20200617 consulting interviews notes, starting on line 706