What are good questions to ask consultants?

What are good questions to ask consultants?

10 Questions to Ask a Consultant or Business Advisor Before…

• Are you collaborative?
• Do you have knowledge of our industry?
• Can you tell me about your process for going about work?
• What do you think is the biggest change that has happened in (consultant’s sphere of knowledge) the last year?

What is a guesstimate consulting?

Guesstimate cases are generally used as part of a 1st round interviews to warm a candidate up for a full case later during the interview process. Consulting firms use guesstimates / market sizing questions to test the quantitative ability, numerical thinking & judgment to arrive at reasonable solutions.

Does McKinsey do estimation questions?

Market sizing questions are common in case interviews at consulting firms like McKinsey, BCG, or Bain. For instance your interviewer might ask: “How many takeaway coffees are sold every day in New York?” This type of question (sometimes referred to as “guesstimate questions”) can really feel unsettling at first.

How do you do consulting market sizing questions?

7 Steps to Answering a Market Sizing Case Question

1. Ask clarifying questions.
2. Create a structured process for finding the answer.
3. Estimate using round numbers.
4. Ground your estimations with facts.
5. Get the math right.
6. Sanity-check your answer.
7. Explain the “So what?” Remember, part of this exercise is about communication.

What kind of questions are asked in a consulting interview?

Questions About Yourself

• What’s your leadership style?
• Describe how you typically conduct a sales meeting.
• What kinds of consulting projects do you typically work on?
• What has been your average number of clients at a time?
• Do you tend to focus on one project, or do you handle a number of projects simultaneously?

How do you prepare for a guesstimate question?

There are 4 steps to answer market-sizing and guesstimate questions:

1. Step 1: Clarify all unclear terms in the question.
2. Step 2: Break the number down into 3-5 small, easy-to-estimate pieces.
3. Step 3: Estimate each piece using math and background knowledge.
4. Step 4: Consolidate the pieces to arrive at the final result.

What are guesstimate questions?

Guesstimate interview questions involve asking candidates to guess or estimate a number based on limited context and information. Successfully answering guesstimate questions requires interviewees to combine logical thinking, general and background knowledge, mental math and problem-solving skills.

How do you approach guesstimates?

How to Ace ‘Guesstimate’ Interview Questions

1. Don’t panic. When approaching a guesstimate question, the first thing to remember is not to panic.
2. Think out loud.
3. Round up and estimate.
4. Think of a funnel.
5. Ask questions or make assumptions.
6. Don’t be afraid to ask for pen and paper.
7. Put it altogether.

Does McKinsey ask market sizing?

It’s a rare exception at McKinsey that you will be asked a pure market sizing question – it won’t give me that much of an insight, compared to a full-blown case interview. However, market-sizing questions might well be incorporated into an overall case, so definitely you need to be prepared for that.