Test of New Master

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Kellogg TMP 1st Year Students
Case Interview Prep Driving to Success January
21, 2005
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Now is the time to get excited!

• Consulting hiring is up!
• Many of the firms plan to hire more this year
• Firms tend to interview a large portion of the
  class

• You can build these skills
• Every year people who practice do better
• Getting a solid start will be critical to getting
  ready
• I have lots of insights to share
• This last year and a half I worked with over 250
  people one-on-one
• Stars are fairly consistent in their patterns
• Case interviewing is a skill and you can get
  better

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consultingcase.com

• David Ohrvall
• Consultant
• 4 years with Bain Chicago, summer associate to
  manager
• 5 years with Andersen Worldwide, manager
• Penn undergrad, Wharton MBA
• Interviewer
• Gave cases to MBAs and undergrads at top
  programs
• Author/ Entrepreneur
• Author of Crack the Case How to Conquer Your
  Case Interviews
• Founder of consultingcase.com
• Launched Formabilities, childrens interactive
  toy company
• Trainer/ Coach
• 9 years of training roles within consulting
• 2 years of teaching outside of consulting
• Personal case coaching

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So why am I here?
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My objectives during the plenary today

• Build your confidence and skills
• Outline a plan for getting prepared
• Let you know what the interviewers want
• Give you a few tips on how to crack your cases
• Solve a case at a high level with you

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During the workshop later today

• 15-20 people per group
• Well do a detailed case together with one person
  up front serving as the interviewee
• Each person works through the case on their own
  but stays with the group
• Detailed tips on how to deal with data (notes and
  charts)
• One original case pack to keep

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Getting Ready
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Top 5 Ding Reasons
Prep Pitfalls

• Not driving the case
• Choosing a limited framework
• Listening and presenting poorly
• Being data light
• Not ending well no recommendation, not concise

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Top 5 Ding Reasons
Prep Pitfalls

• Not driving the case
• Choosing a limited framework
• Listening and presenting poorly
• Being data light
• Not ending well no recommendation, not concise

• Study only by yourself
• Do mock interviews only with your friends
• Boil the ocean by trying to do it all
• Try to cram like any other exam
• Avoid honest feedback

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Plan to succeed
8 weeks
4 weeks
Goal
Identifyweak spots
Get familiarwiththe game
Hear thehonest truth
Read up and make a prep plan
Do somepracticecases andlook for patterns
Seek brutallyhonestfeedback
Action
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Check in first, then build your plan
Self Check
Action
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Plan to maximize your mocks
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InterviewerExpectations
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Whats the interviewer really thinking
Business Case Interview Timeline
Pre- Interview
Hand-shake and Greeting0-2
Getting Settled3-4
Pre-CaseDiscussion5-6
BusinessCase 7-22
Your Questions23-25
Farewell Address 26-27
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Pre-interview
Business Case Interview Timeline
Pre- Interview
Hand-shake and Greeting0-2
Getting Settled3-4
Pre-CaseDiscussion5-6
BusinessCase 7-22
Your Questions23-25
Farewell Address 26-27
Im tired, how many more of these do I have
today?
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Meet and Greet
Business Case Interview Timeline
Pre- Interview
Hand-shake and Greeting0-2
Getting Settled3-4
Pre-CaseDiscussion5-6
BusinessCase 7-22
Your Questions23-25
Farewell Address 26-27
Do you have any energy? Are you confident?
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Settle-in
Business Case Interview Timeline
Pre- Interview
Hand-shakeand Greeting0-2
Getting Settled3-4
Pre-CaseDiscussion5-6
BusinessCase 7-22
Your Questions23-25
Farewell Address 26-27
Do I feel comfortable around you? Are you
awkward?
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Pre-case Discussion
Business Case Interview Timeline
Pre- Interview
Hand-shakeand Greeting0-2
Getting Settled3-4
Pre-CaseDiscussion5-6
BusinessCase 7-22
Your Questions23-25
Farewell Address 26-27
Do you catch my interest? Are you engaging?
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Business Case
Business Case Interview Timeline
Pre- Interview
Hand-shakeand Greeting0-2
Getting Settled3-4
Pre-CaseDiscussion5-6
BusinessCase 7-22
Your Questions23-25
Farewell Address 26-27
How smart are you? Can you crack this case?
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Your Questions
Business Case Interview Timeline
Pre- Interview
Hand-shakeand Greeting0-2
Getting Settled3-4
Pre-CaseDiscussion5-6
BusinessCase 7-22
Your Questions23-25
Farewell Address 26-27
Are you truly interested or going through the
motions?
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Farewell
Business Case Interview Timeline
Pre- Interview
Hand-shakeand Greeting0-2
Getting Settled3-4
Pre-CaseDiscussion5-6
BusinessCase 7-22
Your Questions23-25
Farewell Address 26-27
Ive gotta hurry and get back on schedule
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Crack Your Case
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Crack the case every time!
Business Case Interview Timeline
Pre- Interview
Hand-shakeand Greeting0-2
Getting Settled3-4
Pre-CaseDiscussion5-6
BusinessCase 7-22
Your Questions23-25
Farewell Address 26-27
5 simple steps will help you with every case
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The FRAME Method works on any type of case
Form a Plan
Read Your Audience
Anchor a Hypothesis
Mine for Data
End the Case!
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Form a plan to begin well

• You do not have to use a traditional framework
• Some firms are even discouraging them
• Common sense is not so common anymore
• Mention where you want to start
• Keep your plan holistic
• Think MECE Mutually Exclusive, Collectively
  Exhaustive
• Use simple language
• Id like to first look at revenue . . . .
• Mention areas you want to explore
• . . . and how the competitors are impacting our
  revenue. I also would like to look at costs.

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Whats your objective with every case?
Maximize the Value of the Company
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Maximum Value Model (MVM)
C
I
E
A
Zone 5
P
L
S
T
Zone 4
Zone 3
Finance
Organization
Zone 2
Operations
Zone 1
Strategy
.
People
Volume Price
CAH
R
Systems
Measure
Fixed Variable
C
Processes
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Waterfall each zone adds value
Zone 4
Zone 3
Zone 2
Zone 1
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Strategy increase, change, shrink
Zone 4
Zone 3
Zone 2
Zone 1
Strategy
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Operations revenue and cost
Zone 4
Zone 3
Zone 2
Operations
Zone 1
Strategy
Volume Price
R
Fixed Variable
C
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Organization people, systems, processes and
measurement
Zone 4
Zone 3
Organization
Zone 2
Operations
Zone 1
Strategy
.
People
Volume Price
R
Systems
Measure
Fixed Variable
C
Processes
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Finance cash, debt, equity
Zone 4
Zone 3
Finance
Organization
Zone 2
Operations
Zone 1
Strategy
.
People
Volume Price
CAH
R
Systems
Measure
Fixed Variable
C
Processes
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External Forces
Suppliers
Technology
Public
Legal
Economy
Auditing
Competitors
Industry
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Always Fresh (check the web)

• Subsidiary of 30B consumer products conglomerate
• Successful line of deodorant/anti-perspirant
  spray, roll-on and stick
• Team is ready to go abroad and youre the team
  leader
• Is international expansion a good idea? Which
  countries are best?

How do I start in a simple and common sense way?
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MVM Use it as a roadmap
C
I
E
A
Zone 5
P
L
3
S
T
Zone 4
Zone 3
Finance
Organization
Zone 2
Operations
Zone 1
Strategy
4
.
1
People
Volume Price
CAH
R
2
Systems
Measure
Fixed Variable
C
Processes
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Read your audience at all times

• Note his or her style
• Chatty Charlie vs. Data Maam vs. Silent Partner
• Expect changes in style throughout the interview
• Relaxed to intense to relaxed again is common
• Respond!
• Stay nimble speed up, slow down, listen
  intently
• Track with the interviewer at all times

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Anchor a hypothesis

• This approach is the real differentiator
• Put a mental stake in the ground on what you
  think solve to prove or disprove it
• You do not have to state your hypothesis!

Hypothesis
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Always Fresh (check the web)

• Subsidiary of 30B consumer products conglomerate
• Successful line of deodorant/anti-perspirant
  spray, roll-on and stick
• Team is ready to go abroad and youre the team
  leader
• Is international expansion a good idea? Which
  countries are best?

It is a good idea. I need to find the right
location.
Demand exists and can be estimated
Product is differentiable can take competitors
share
We can support it team and finances are in place
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Mine for an answer (find data!)
Find specific answers to your questions
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Mine for an answer (continued)
Big markets Brazil, Japan and Germany
Price differentiation Spray is higher
Brazil and Japan are fragmented, share gains are
possible
No deodorant type is dominant by country
Entering all three countries will bring in annual
revenue of 183M
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End the case!

• Plan the end long before the time is up
• Be concise and answer the main question
• Tie data to your recommendations dont answer
  just from your gut!

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The FRAME Method works on any type of case
Form a Plan
Read Your Audience
Anchor a Hypothesis
Mine for Data
End the Case!
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Sample Case
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Fitness Xtreme
Fitness Xtreme, land of the limber and lean,
needs to go on a diet. Membership fees are down
and the management team is eyeing its
costs. Should the trainers get the axe?
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Fitness Xtreme
CASE QUESTION
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Form a plan (what you think)
C
I
E
A
Zone 5
P
L
S
T
Zone 4
Zone 3
Finance
Organization
Zone 2
Operations
Zone 1
Strategy
2
3
.
People
Volume Price
CAH
R
Systems
Measure
Fixed Variable
C
Processes
1
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Form a plan (what you say)
There are several areas I would like to explore
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Read Your Audience

• Look for changes in communication
• Directly asking for data
• Picking up the pace
• Disengaging
• Silence is a good weapon
• Stick to your points and wait

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Anchor a hypothesis
Training staff can be reduced but not completely
eliminated
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Mine for an answer (find data!)
Little Impact on Revenue
Costs Are Small
Minimize the Number of Trainers

• What does the total cost bar look like?
• What are trainers salaries?
• Full time vs. part-time
• At what point will trainers leave due to salary
  cuts?

• What is membership revenue?
• What portion is from training?
• Who uses trainers?
• What would happen to membership if trainers left?

• What portion of the trainers time is unused?
• Can we meet demand with fewer trainers?
• What risk is there to having fewer, higher
  quality trainers?

Find specific answers to your questions
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Pull it all together
Manage the data
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End the case!
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Report Card

• I cracked it! Bring on more cases.
• I got off to a good start with a clear plan.
• I had a hypothesis and asked good questions.
• I kept moving and kept looking for data along the
  way.
• I found insights and pulled them together.
• I closed concisely and had a recommendation that
  answered the main question.

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www.consultingcase.com

• Products
• Crack the Case How to Conquer Your Case
  Interviews 2005 Edition
• Maximum Value Model (One Model)
• The FRAME Method (One Method)
• 10 case packs (150 pages of answers, insights,
  tips)
• 10 Practice roadmaps
• What the firms want, how to avoid wrong turns in
  preparation and behind the scenes details
• 12 books available today, 40 each
• Available on-line (hard copy 45, e-book 35)

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www.consultingcase.com

• Small Teams (1000 per half day)
• Up to 2-4 people spend a half a day with me
• Each person does at least one case pack each and
  receives a detailed critique, a strength
  assessment and an action plan
• Learn how to structure an effective mock
  interview
• Outline different methods for handling data and
  taking great notes
• Review tips and tricks on how to do well on your
  fit
• Four original case packs to keep

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www.consultingcase.com

• One on One Coaching
• Jump start your training with a real appraisal
• Learn how to systematically attack your cases
• Reduce performance variability

Packages and Pricing
Standard Package 2 hours for 425
Premium Package 4 hours for 750

• Includes 2 practice cases
• Performance analysis
• Case drills and action plan
• Additional hours are 175/hour

• Includes 3-4 practice cases
• Performance analysis
• Case and resume drills
• Fit analysis
• Access to me throughout your recruiting season
• Additional hours are 150/hour

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Kellogg TMP 1st Year Students
Questions