Which and how core business consulting skills could be useful for new business development?
And are the business consultants people, who creatively associate network and experiment, or rather people who are extremely good and careful in linear-thinking?
According to Victor Cheng, who is considered as “McKinsey’s golden child” , rigorous linear-thinking makes a real business consultant. Scattering around creatively could make a good CEO, but not a good consultant says Victor.
So what’s so exciting in core business consulting skills and how you could learn them to develop your business?
One of the most comprehensive ways to embrace core business consulting skills at a glance is to join Victor’s Cheng case interview preparation programme. It’s a programme consisting of couple of hours of videos training, which aim is to prepare people to get a job in top management consulting.
The programme explores most popular business analysis tools and frameworks and teaches how to approach popular business situation cases.
By practicing it you can develop abilities of analyzing businesses and also preparing complex, competitive and feasible business plans. It’s a skillset which every entrepreneur should master.
By exploring Victor’s Cheng videos you’ll learn e.g.:
1)How to build a big picture and place your business in wider context
2)How to look and use the market data
3)How to make reasonable assumptions when there is no data
4)How to make estimations basing on these assumptions
5)How to build business hypotheses and then prove them right or wrong
6)How to use “the outliers” in the data, which are the numbers/facts which are especially good or especially bad
And what specific it means for entrepreneurs?
1)You’ll learn how to recognize the market trends and use them for your business modeling
2)You’ll know how to do market sizing, estimate how much you can grow and to explain the others why your business is worth investing
3)You’ll be able to plan the market entrance
4)You’ll know how to refer to baselines and do benchmarking to improve performance
5)You’ll know how to tackle profit decreases by analyzing revenue sources and costs of business
6)You’ll know what to do if you if you stuck at any stage of your business planning, and why of segmentation of markets and Client’s is so important to grow further
I must admit that I owe Victor Cheng a lot. I went through all his videos couple of years ago and. I made notes and get back to them regularly as I find them really working. If you prefer reading to watching you can alternatively use Case Interview Secrets also wrote by Victor, which foundation of business skill-set and provide great deal of brain-origami exercises.
They say that Basic business consulting skills are just the beginning, as you get hired because of your analytical skills, you get promoted by the Client skills and you go to the top always by….sales!