With poetry you can win the heart of a beautiful woman. With a novel you can earn the respect of your colleagues and peers or even earn a buck or two on the side. With a presentation you can bore a crowd of executives to death or win millions of dollars. Everything depends on how you structure the presentation and whether you make yourself clear. A bit of humor is also valuable.
Today I will talk about this unique skill of being clear and precise in your presentation. Thanks to this, you will not earn the attention of any girl or get a PhD but you may actually get instead a shitload of money from a consulting projects 🙂 . With this post I will start the series of posts where are I will show you how to do different things in management consulting.
Before we get to the main topic bear in mind that most people think that the value of the presentation depends on what you do during the delivery in front of the audience, but actually it more depends on how you prepare and whether you have done all the analyses required.
Creating presentations is probably the most important aspect of the management consulting project due to two things:
- Presentation is the only tangible productof your work that will live long beyond your project and will be gradually consumed or brutally rejected by the company
- Presentation is the toolthat the consultant use to set priorities for the analytical part of the project.
I will show you below step by step how to create efficiently the presentation. This can be done in 11 steps. At the end you will create the final presentation – an end-product of a consulting project. Below the overview:As you can see a lot of things you can (and should) do before the project starts.
- Write down the issue tree.
Consultants are smart guys that with good judgement will make a lot of educated guesses. They do not know the problem or the solution but they are quite good in making educated guesses in a structured manner. This saves a lot of time and helps consultants do in 3 months what would take regular employees 3 years. The best tool for enlisting the educated guesses is the so called issue tree and this is what you should start with. Use the issue tree to enlist all potential problems you think there are in the company. Have a look at an issue tree in logistics
- Create a structure of the presentation
On the basis of the issues tree that you have created you can get down to creating the structure of the presentation. You should start with a clean piece of paper. At the end you usually have to have a document that has 100-300 slides filled with conclusions and supporting analyses. Not to produce too many slides that don’t make sense or are not connected with each other you have to start by creating the structure of the presentation: what you want to talk about in general and how you want to organized the content. As always you start with the general overview, structure and slowly but surely go deeper. In other words group the problems from the issue tree in logical units and on the basis of this create the structure of the presentation (sections, chapters etc.) Below an example of creating a structure for one presentation
- Write down the messages you want to convey
Once you have the structure and the name of the chapters you can start writing down the messages you want to convey to the customer. The messages we put at the top of the slides. This will be the first thing that the customer will see and read. Why we start with the messages? Shouldn’t we first do the analyses? Nope! In management consulting, especially if you want to be a badass consultant you have to live and die by the 80/20 rule. It is much more efficient to guess the message and to do analyses that will support it or demolish it rather than analyze everything regardless of whether it makes sense or not. Obviously messages should be aligned with your issue tree and the structure. I recommend putting only 1 message per slide. In this way the presentations are easier to read for non-consultants. Here you have an example of such a presentation on Low Cost Business models. Below we continue the example and I will show you what kind of messages I came up with
- Sketch the slides
We have the structure and we have the messages. Now it is time to sketch each and every slide. The best way is to do is to use pen or pencil and clean sheets of paper. For this you use the structure and the messages from previous steps. Take a piece of paper, divide it into 4 parts (every part will be one slide) and put with a pen or pencil the messages on the slides, preserving the structure. After you put the message try to put down a picture / graph that should prove your message – again in pen or pencil and without getting into details, just the rough sketch. Below again example showing you how I have done it for our example
- Create a template in Power Point
We are done with sketching. Now you should have a big pile of sketches on paper slides. Remember we still have not started the project. We are still in the preparation phase. If you want to survive the first few weeks of consulting project I would still recommend to go one step further and on the basis of the sketches create slides in Power Point. Thanks, to this you will enter the project with end-product half done. This step brings clarity and creates a tool that you will use to manage the whole consulting project.
- For every slide create the underlying analysis or gather needed info
Once the project starts you will start getting data that you can put to good use. As you may remember we said that for every slide there will be one message that you will have to prove or disprove using the available data. Therefore, for every slide create an analysis in Excel that will help you fill in the slides with data and conclusions. Every slide compels you to do certain analyses and also helps you define what data you need to perform the analyses. I recommend sticking to analyzing only the things that the presentation compels you to do. Don’t waste time on analyzing issues that are not required by the presentations because you are running the risk of not delivering on deadlines. Once you are done with obligatory slides you can go back to analyzing the whole universe or wasting your time on facebook 😉 Below example of such an analysis and how it is later on turned into a slide in Power Point.
- Fill in the slides with data and charts
After the Excels are done you can start filling in the slides with data and modifying the conclusion. This part is pretty automatic. Still, remember that if you change the data or the analysis you also have to modify the slides connected with those analyses. The minute you have data and you managed to analyze them put them on the proper slides. In this way you will see what things you are still missing (empty slides will give you the clue). During this stage you can also alter the slides – maybe change the conclusion in the message (the educated guess might be wrong) or change the way in which you wanted to present the subject / message.
- Check the flow of the whole presentation and modify if needed slides or the structure
When you fill-in all the slides it is time to check whether the presentation still makes sense. You will see all slides filled in and you may decide that the flow is a bit weird. Usually 10-20% of the slides are being shifted to another place in the presentation. During this stage you may also modify the structure of the presentations.
- Create Executive Summary
When you are ready with the presentation it is time to create the Executive Summary. Most CEO, COO are lazy so they don’t want to go through 300 slides. Therefore, smart consultants prepare for them an Executive Summary that consists of 20-30 slides with the most important conclusions and sometimes analyses. The Board will read the Executive Summary and only after that decide which parts of the main presentation to go through. That’s why in Executive Summary you want to show them the main results and intrigue them enough so that they decide to read the main presentations
- Write the beginning and the end of the presentation
It may be a bit surprise to you but the end and the beginning of the presentation are best written at the very end of the process. You usually have a look at the Executive Summary and distill the most important things from it. This will be the backbone of your short introduction and the ending. Quite often the beginning and the ending look very similar. Repetition builds understanding. Make the beginning and the end appealing to the audience as they will be most often read slides.
- Check for errors, mistakes and omissions
The most boring step is the step no 11. Here you look for all sorts of errors, mistakes, contradiction that you have created. Most presentations are created by more than 1 person so you are bound to have some inconsistence. Therefore, before sending the presentation to the customer check it 5-10x before sending. The best practice is to use different people for proof reading so you can find the problems. Still the customer will most likely be able to spot something that you have missed. It is a good practice to at least once print the presentations and go through the printouts. Most presentation looked different when printed out and your eye can spot things previously missed 🙂
That’s in short. Below a presentation that has a bit more details you should find interesting. For templates and ready-made slides, examples of presentations from projects check my online course Management Consulting Presentations.
Below examples of presentation, slide decks from different consulting firms:
- 50 presentations from McKinsey, BCG, Bain, Roland Berger
- 25 presentations from McKinsey, Deloitte, KMPG, PwC, BCG. Most of them on general trends. Gives you a good idea on how those company present data and what standards they use
- Kickoff Meeting presentation – example
- 30 presentations from McKinsey – mainly general trends
- Practical guide how to create management consulting presentation
- McKinsey – USPS Future Business Model
- McKinsey – Capturing the full electricity efficiency potential of the U.K.
- Bain -Achieving Operational Excellence at University of California, Berkeley
- EY – presentations (a lot of them in German)
- PwC presentations
- Lesson Learnt Presentation – what it should have
- BCG presentation for Port of Los Angeles Clean Truck Program.
- BCG – Projecting US Mail volumes to 2020
- BCG – Evaluating NYC media sector development and setting the stage for future growth
- BCG – Shareholder value creation in a hesitant economy
- BCG – Loose dogs in Dallas: Strategic Recommendations to Improve Public Safety and Animal Welfare
- Booz Allen Hamilton – Evaluation of Expenditures, Revenue Source and Alternative Water, Wastewater and StormWater Rate Structures in NY
- Roland Berger – the market for e-health
Stay tuned for more useful stuff 🙂