Consulting firms are hired very often to help optimize processes and improve the quality of the products delivered. One of the frameworks used is the so-called Six Sigma which tries to find the root cause of problems using simple statistical analysis In this post, I will show you the main concepts. For more details, I …
How to create a lean office?
To stay competitive, you have to constantly look for improvements. In such situations, a lot of lean manufacturing techniques come in handy, even if you have mainly office workers. I will show you briefly how you can use lean manufacturing tools and other techniques to create an efficient lean office that helps you introduce your …
How to conduct management consulting projects devoted to Purchasing & Procurement
During Consulting Projects, a lot of attention will be devoted to Purchasing & Procurement. Usually, this area generates big cost reductions and helps improve liquidity. Finding potential savings is not always easy and requires a well-organized approach to company purchases. Luckily, there are a lot of techniques and frameworks that will help you in a …
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What are Key Performance Indicators (KPIs) and how to use them in practice
Only things that are measured get managed. That it’s why it is vital for every business to have well-defined KPIs. In this post, I will show you the main concepts around KPIs. For more details, I recommend checking my online course: KPI and metrics for Management Consultants & Managers What are KPIs? Let’s first start …
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How to scale up a business – best practices from top firms and Management Consulting
If you have managed to build a successful business that is also profitable, at some point you will start thinking about scaling your business and drastically growing its size and profits. This will require a different approach than the everyday management of the business. You need different frameworks to scale fast & efficiently the business. …
Essential Segmentation Methods for Management Consultants & Business Analysts
If you are participating in a consulting project devoted to Sales & Marketing or Strategy most likely you will have to either do segmentation or analyze existing segments of customers. You will try to achieve it on the basis of internal data, market research as well as other external data. That’s why today we will …
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Essential Pricing concepts for Management Consultants
Consulting firms sometimes help optimize pricing. You have to be very careful in this sort of project because a small change may have a huge impact both on the top line and bottom line. Analyzing changes in pricing is not easy as you have to take into account the relations between the products and the …
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What kind of financial analyses you will be conducting during consulting projects
During consulting projects, you will have to, one way or the other, conduct quite a lot of financial analyses. Even if you don’t want to be a master of finance I would suggest learning the essential financial analyses. Such analyses will not be the most exhilarating part of the project, but without them, you will …
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How to change your business during the recession caused by coronavirus
A few years ago I have seen a documentary movie showing a refugee camp. To my surprise they have managed to create a mini economy inside the camp. There was a school, hairdressers, church, modest fast foods and small workshops. In other words even if the worst happens a new balance is created in which …
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Types of consulting projects
Management consultants have learned to sell all sorts of weird projects to their clients. Some of them were born out of the need of the customer. Others were developed internally by the consulting firms. Consulting projects differ drastically and I will try to shed some light on the main types of projects you can come …
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