• 1. Developer: Daphne LiReviewer: Susan Lonergan Cartha O’Hare John Clarke bcHow to be a Great ACMarch 1998Copyright© 1998 Bain & Company, Inc. 1GreatAC
    • 2. Getting the job done Managing up The perfect client meeting Developing personal style Building a rewarding career Key takeawaysAgenda2GreatAC
    • 3. Getting the job done Managing up The perfect client meeting Developing personal style Building a rewarding career Key takeawaysAgenda3GreatAC
    • 4. Bain caseteams address a considerable range of strategic issues.Strategy consultingCorporate strategyBusiness unit strategyPerformance improvementHow should a company with many businesses achieve its growth objectives?How should a business unit respond to its competitors?How many manufacturing plants does a company need? What products should client produce in each plant?Example:Types of Strategic Issues4GreatAC
    • 5. CompoutekAxels-4-RentBusiness problem:Answer:First-year AC workstream:Length of case:AC travel:Business unit strategy (PC business unit)Exit the retail PC market Cut costs through complexity reduction Implement process and organization redesignPhone competitors to gather data about the PC market Analyze client data relating to accounts receivable and inventory turns Build economic modelThree monthsMonthly local visits to client to gather data and attend meetingsCorporate strategy (growth strategy)Target and retain most profitable customers through marketing programs and travel agent commission structures Focus on corporate accounts that are already penetrated, but are currently underperforming in share targetsSize rental car market based on secondary research and customer surveys Splice and dice client customer database to establish segments Research other companies’ retention programs (e.g., airlines' frequent flyer)Six monthsWeekly trips to NYC for client task force meetingsExample of Caseteam Assignments5GreatAC
    • 6. Caseteam CoordinatorVice-PresidentManager/CTLExperienced ConsultantNew ACNew ConsultantExperienced ACWhile you may frequently encounter variations, a typical caseteam structure looks like the following:Caseteam Structure6GreatAC
    • 7. Your mix of responsibilities will vary from case to case.The jobResearch/data gatheringAnalysisCommunicationTeamMarket size and dynamics Competitors Client data CustomersDatabase manipulation Models in Excel Regressions Data into appropriate slide format Arriving at the strategic answerBlank slides storyline proper format Oral communication informal team meetings with consultant/manger overheads to caseteamCoordinating workstreams with other ACs/consultants Participating in team brainstorming sessions and team meetings Overseeing production for presentations Caseteam eventsAreas of Responsibility7GreatAC
    • 8. Flawless execution will destine ACs for greatness. They capitalize on the resources available to them, and show a willingness to do whatever it takes to get the job done.Get the job doneExecute on your workplanCommunicate upUnderstand the “Big Picture”Deliver with zero defectsDevelop and update your workplan Keep an 80/20 fallback plan Execute - focus on the assigned task After 6-12 months, take a more active role in intellectual leadership of your piece of workCommunicate regularly and frequently with your manager use Answer-First and 80/20 tag “red flags” seek help prioritizing leverage manager to add additional 10% insightAlways “know the why” in the context of the “Big Picture”Perform zero defect analysis document everything proof, proof, proof reality checkKey Success Factors8GreatAC
    • 9. Always “know the why” in the context of the “Big Picture”.Why are you doing this work? what is the "Big Picture"? where is the value? what is the client expecting? What does your analysis mean and why is it important to the client? What are likely questions to be asked of you? by your team by your client(s) What sensitivity analyses illustrate responses to potential questions or clarify issues for you? what about client sensitivity analyses? What reality checks can you do to demonstrate knowledge of the why? use of 80/20 benchmarks focus of your quality checks“Know the Why”9GreatAC
    • 10. A recent experience at SAC training illustrates the importance of “knowing the why” in the context of the “Big Picture”.Develop presentation on business unit strategyAssignment:The client can be profitable and should milk its businessHypothesis:Market is growing Client has low cost position Competitors not a threat next largest player higher costAssertions:“We can do a BDP to figure out where our client can lower costs” “Costs are relatively similar”SACs’ reaction:Data:What did they miss?RCPQuestion:ClientCompetitor4.804.905.604.500246Big Picture - “Know the Why”: Example (1 of 2)10GreatAC
    • 11. More on “knowing the why” - what the ACs missed….“We can do a BDP to figure out where our client can lower costs” “Costs are relatively similar”SACs’ reaction:Competitor is lowest cost Competitor can lower price to gain share “Milk” is not a feasible strategyWhat they missed:Evaluate the competitive threat, not design “milking” strategyNext step:Data:This team got caught up in the details of the analysis Need to step back and look at “Big Picture”Lesson learned:RCPClientCompetitor4.804.905.604.500246Big Picture - “Know the Why”: Example (2 of 2)11GreatAC
    • 12. After you have performed your analysis, stepping back is essential to getting the Big Picture in focus.Double check your output Are these results surprising? Why? Does this all make sense? Put the results on a slide or slides Is there a "so what" from the slide? What are the implications? What could client responses be? concerns/threats confusion Is there a better way to present the data? audience better representation of key point(s) What does this mean for the client? How does this fit in with Bain's work? What is the best way to articulate the key takeaways of the slide: what is your manager expecting? how does this analysis fit into the larger case question(s)?Presenting your data well can be more difficult than performing analysisStepping Back12GreatAC
    • 13. Getting the job done Managing up The perfect client meeting Developing personal style Building a rewarding career Key takeawaysAgenda13GreatAC
    • 14. Hi, Manager, What do you want to talk about today?I’m sorry but I can’t give you that info for your update today—the client hasn’t given me the data.I had to stay up all night because my manager kept adding to my list of things to do!I think the answer is $650M, but can’t remember— but don’t worry, I have it at my desk!I don’t know how I’m going to do this market map. None of these companies are public.What’s Wrong With This Picture? (1 of 6)14GreatAC
    • 15. Problem:BDP:No agendaCome with objectives and agendaHi, Manager, What do you want to talk about today?I’m sorry but I can’t give you that info for your update today—the client hasn’t given me the data.I had to stay up all night because my manager kept adding to my list of things to do!I think the answer is $650M, but can’t remember— but don’t worry, I have it at my desk!I don’t know how I’m going to do this market map. None of these companies are public.What’s Wrong With This Picture? (2 of 6)15GreatAC
    • 16. Problem:BDP:Did not inform manager of roadblocksProvide your manager with frequent updatesHi, Manager, What do you want to talk about today?I’m sorry but I can’t give you that info for your update today— the client hasn’t given me the data.I had to stay up all night because my manager kept adding to my list of things to do!I think the answer is $650M, but can’t remember— but don’t worry, I have it at my desk!I don’t know how I’m going to do this market map. None of these companies are public.What’s Wrong With This Picture? (3 of 6) 16GreatAC
    • 17. Problem:BDP:Did not ask for prioritizationAsk manager to reprioritize whenever new work is added to the workplan Let manager know if work is taking longer than anticipatedHi, Manager, What do you want to talk about today?I’m sorry but I can’t give you that info for your update today— the client hasn’t given me the data.I had to stay up all night because my manager kept adding to my list of things to do!I think the answer is $650M, but can’t remember— but don’t worry, I have it at my desk!I don’t know how I’m going to do this market map. None of these companies are public.What’s Wrong With This Picture? (4 of 6)17GreatAC
    • 18. Problem:BDP:No back upAlways bring backupHi, Manager, What do you want to talk about today?I’m sorry but I can’t give you that info for your update today— the client hasn’t given me the data.I had to stay up all night because my manager kept adding to my list of things to do!I think the answer is $650M, but can’t remember— but don’t worry, I have it at my desk!I don’t know how I’m going to do this market map. None of these companies are public.What’s Wrong With This Picture? (5 of 6)18GreatAC
    • 19. Problem:BDP:Not pushing issues to recommendationsIf you run into roadblocks, brainstorm and offer alternativesHi, Manager, What do you want to talk about today?I’m sorry but I can’t give you that info for your update today— the client hasn’t given me the data.I had to stay up all night because my manager kept adding to my list of things to do!I think the answer is $650M, but can’t remember— but don’t worry, I have it at my desk!I don’t know how I’m going to do this market map. None of these companies are public.What’s Wrong With This Picture? (6 of 6)19GreatAC
    • 20. “Push back” are words you will hear often. When Pushing Back May Be AppropriateWhen Pushing Back May Not Be AppropriateYou did the same analysis last week (and the week before) You have a good relationship with your consultant/CTL/manager and believe this analysis is unnecessary You've been nonstop, without sleep working on this case for 72 hours Some people on your team have been complaining about too much free time and you've been crunching past midnight for the last two weeks You're on vacation It is unclear to you how the analysis fits into the greater picture/overall case objectives Your supervisor is being unnecessarily demandingIt's your first week on the case You don't know how to do the analysis (ask) You really want to ski/go to the beach tomorrow You've been devoting most of your time to your other side You just got back from vacation You're sick of this case You don't like the consultant you're working with The work is/appears boring or mundane There are no other resources available to complete piece of work You believe you're too smart for the type of work required You told your roommate you would meet her for drinks at 6:30Advice on Pushing Back20GreatAC
    • 21. You know there's a preez on Monday, but you have plans to go skiing for the weekend It’s time to be a team player - especially if this preez has been on the calendar for a whileSituationSolutionOffer to (1) return after your dinner and (2) come in earlier than the rest of the team to compensate Let your manager know that your aerobics is important to you, but also show some flexibility Go to your doctor’s appointment. As a rule, let your manager know if you will be out of the office for a considerable length of timeYou know the rest of the team is here crunching, but you would really like to have dinner with a friend who’s in town just for today You want to go to my morning aerobics class, but your manager calls a last minute a caseteam meeting for that time You have an important doctor’s appointment, but your manager just scheduled a client meeting that you need to attend with herPushing Back: Examples21GreatAC
    • 22. Getting the job done Managing up The perfect client meeting Developing personal style Building a rewarding career Key takeawaysAgenda22GreatAC
    • 23. Preparation packingThe AC roleEnsuring the perfect client meetingPreparation: back up & logisticsEnsuring the Perfect Client Meeting23GreatAC
    • 24. Maintain back-up book and leave audit trail at all times (don't wait until presentation is over!) make back-up user-friendly include sensitivity analyses and other analyses beyond material shown anticipate questions have a cheat sheet Make copies (when appropriate) let your team take notes can use copies to make changes number pages (blue pencils don't copy) Carry necessary supplies to make corrections, calculations, measurements Anticipate problems (client copiers, broken staplers, etc.) Bring relevant case work "outside of presentation" older work annual reports, financials sample surveys, models table of contents Keep desk/files organized so team members can find needed materials when you are out of the officeGood preparation for client meetings is an investment with astronomical returns.Preparation (Back-up)24GreatAC
    • 25. Know logistics travel plans and options meeting times and locations directions phone numbers and contacts Know your position: be prepared to pay for petty cash items offer to drive rental cars coordinate last-minute emergencies/travel changes Never make anyone wait for you travel tip: don’t check baggage slows you down in airports leaves you at risk for lost baggagePrepare to be the logistics point person for client meetings. Assuming that “someone” has taken care of logistics is a prelude to disaster.Preparation (Logistics)25GreatAC
    • 26. Open your briefcase - list its contents What would you add if you were traveling to a client presentation tomorrow? Compare your answer to “The Ultimate Travel Package,” which followsPreparation Packaging (Exercise)26GreatAC
    • 27. Pack your briefcase to cover a wide range of contingencies. Don’t make assumptions about what other team members “should” be carrying. And remember: a hand-drawn slide of last-minute insights is better than a fully-produced slide of errors.“The Ultimate Travel Package”Contact informationToolsOffice suppliesBain and client phone lists Business cards Daily calendarCalculator PC power cord phone plug files downloadedClear blank acetates Graph paper Writing paper/ note pad Soft lead mechanical pencils RulerWhite-out tape (thick and thin) Paper clips Binder clips Rubber eraser Manila folders Black slide pens (fineline and thickline) “The Ultimate Travel Package”27GreatAC
    • 28. Review and prepare appropriately to meet the objectives of the client visit understand expectations of your participation (what are you supposed to gain from/contribute to the meeting) Gauge your degree of participation to the meetings make-up as a rule of thumb, the higher the level of clients involved, the less you will talk If your analysis/area of expertise is being discussed, offer insights relevant discoveries questions Ask your manager or CTL what role you ought to play at the very least, play the role of engaged observer If you have client maps attending take the opportunity to build the relationship make sure you prewire get reaction/feedback Always take notes (preparing a summary may be helpful) Always carefully think about what you say and do age is frequently a liability Always be attentive/engaged (don't fall asleep or daydream) Your involvement at the client will depend on your team's style, but in general:Your Role in the Client Meeting28GreatAC
    • 29. Getting the job done Managing up The perfect client meeting Developing personal style Building a rewarding career Key takeawaysAgenda29GreatAC
    • 30. Style (self-projection)Self presentationPreparationSelf-managementCommunicationDeveloping Personal Style30GreatAC
    • 31. Bain's culture and relative youth make it easy to forget the importance of self presentation, especially in non-office setting.Convey confidence, not arrogance make eye contact enunciate clearly project a "can-do" attitude challenge constructively - ask questions Create a presence remember that "professional" does not equal "no personality" interact with others around you Make yourself available during reasonable hours don't abuse the no face time policy Dress professionally in line with office and client normsSelf Presentation31GreatAC
    • 32. Successful ACs regard self-preparation as fundamental to projecting an image of competence, engagement and professionalism.When you meet with others bring calendar HP12C notepad your brain For caseteam meetings understand what issues will be covered talk with supervisor about what you should cover bring relevant materials determine appropriate levels of detail be able to talk about implications of your analysis, next steps, etc. For client meetings look and be organized: make sure you have the relevant pieces of analysis be prepared to answer questions about sources/methodologies know how to explain your slides presentation layout (e.g., marimekko, growth share matrix) how analysis was done (if asked) key takeaway/insightPreparation32GreatAC
    • 33. From the start, one of the most visible images you will project is your ability to meet deadlines.Be on time for calls and meetings Make sure you clearly understand your deliverables and when they are needed If you anticipate problems in meeting a deadline, let people know before you're late Never keep anyone waitingSelf Management: Time and Timelines33GreatAC
    • 34. Since we are a culture dependent on voicemails, mastering the art of leaving voicemails is vital. Keep them brief and to the point use Answer-First if you need to cover a lot of material, outline first what is the minimum you need to say to convey your message? Gauge message to target audience managers and VPs don't have a lot of time - or patience - for long messages "urgent" means different things to different people Change your message, when appropriate out of the office for a day or two - change your daily greeting on vacation, out for a week, etc.: use an extended-absence greeting and tell people whether or not you will be checking your messages Answer/act upon voicemails in a timely mannerCommunication: Voicemail Tactics34GreatAC
    • 35. Getting the job done Managing up The perfect client meeting Developing personal style Building a rewarding career Key takeawaysAgenda35GreatAC
    • 36. The role of the new ACRole evolutionCoachingNon-case opportu-nitiesUps and downsPeople resourcesAC roleProfessional growthLife balanceA rewarding careerCreating a Rewarding Career36GreatAC
    • 37. Relative Emphasis within TeamManage productionInformation gathering/data collectionAnalysisCoordinate with CTCs and Graphics Keep control deck, assemble black-book, when necessary Quality control, quality control, quality control Proof, proof, proofIdentify/read/summarize relevant information Utilize multiple sources (including alternative - Internet, expert groups, etc.) Leverage past Bain work on other teams (BRAVA) Sift through client data for relevant information Pull information and data together in meaningful fashion - where are gaps/opportunities? Develop hypothesis of possible outcomes Understand trends and shifts in marketplace Model trends to determine likely outcomes Look for different ways of cutting data Organize analysis into meaningful stories Link to overall caseteam questions/objectives Execute zero-defect analysisArticulate case objectives Blank slide analytical loop Execute on analysis Update manager appropriatelyWorkstream ownershipThe Role of the New AC37GreatAC
    • 38. Over time, you will assume more responsibility for the analytical aspects of the work. You should take ownership of your work earlier than expected and constantly aim to over-deliver.Likely responsibilities:Likely direct contacts:Relationship/ place on team:First few monthsSix monthsOne yearTwo yearsSACManaging production Data collection Basic analysisBasic analysis Data collection ProductionInput to workstream Complex analysis Data collection ProductionOwn workstream Storylines Complex analysis Data collectionWork with new ACs Own workstream Storylines Complex analysisConsultants Senior ACsConsultants Managers/ CTLsSenior consultants Managers/ CTLsManagers/ CTLs VPsInformation absorber Adjusting to Bain cultureDeveloping expertise Base to mid-level client contactResource to newer team members Mid-level client contactInterface/prewire with clients Resource to newer team membersSupervisor of new members Direct client mapConsultants Experienced ACsRole Evolution38GreatAC
    • 39. As you learn the job, your role in driving to the answer will expand.Analysis/ execution of workstreamBlank slides for workstreamCase hypothesisNext steps for workstreamChanges in AC Focus Over Time39GreatAC
    • 40. Regular informal and formal feedback is essential to your professional development.Start with a skillplan Your colleagues want you to succeed and frequently they have comments and suggestions they can share with you be aggressive, yet balanced, in asking for feedback follow-up after you have tried to make changes Some managers offer only constructive criticism - others offer only positive feedback ask for both sides of the story if you aren't getting enough feedback, tell your potential feedback sources or bring up the issue in the caseteam surveys Tips for getting feedback ask immediately after meetings/presentations travel with your supervisor - you have a captive audience ask other team members Upward feedback let others know if things are not working upward feedback forms direct one-on-one staffing manager caseteam surveyCoaching - Getting and Soliciting Feedback40GreatAC
    • 41. An essential component of your professional growth will be the quality of the feedback you receive from your colleagues.Your review is compiled from formal input solicited from people you've worked with on caseteams or non-case work Ratings are determined by consensus at a meeting of managers and VPs based on performance relative to a set of standards The first six months are considered a grace period - the only official standard is pass/fail Keep the process in perspective focus on learning a lot, being challenged, and having funCoaching - Review/Rating Process41GreatAC
    • 42. You are encouraged to look for opportunities to add the “extra 10%” to enhance the quality of life at Bain beyond your case work.Get involved in Bain outside your case work Recruiting Training Colleagues non-profit/pro bono work internal asset-building projects “brownbag” lunches studies Take the initiative - don't wait to be asked to get involved Bain recognizes you for your involvement in non-case work and provides ample opportunitiesHave fun Demonstrate leadership Build/strengthen Bain relationshipsNon-Case Opportunities42GreatAC
    • 43. AttitudeGreat!Ugh!Pre ACTFirst caseRecruitingSecond caseBalancing two cases is hard!Double preez (same day!)Catching up on sleepClients liked workNew caseVacationCatching up!Understand new roleEnjoying casesShouldn't it be summer?Should I have gone to grad school?Error in analysisNot such a big errorFound new insightCreating own loopsCompany meetingLeft PC on planeYou won’t always love your job….Professional Growth (Ups and Downs)43GreatAC
    • 44. Your peers are a rich, low risk source of information, feedback and experience.Leveraging the knowledge of your peers adds to your efficiency gives you others to bounce ideas/questions off of is low risk helps you learn from others experience accelerates learning process provides best data sources in industry, explanation of specific type of analysis Multi-level bay environment is set up for this purpose consultants (experienced and new) ACs (experienced and new) Colleagues excellent source for answers about Bain great for "stupid" questionsPeople Resources - Peers44GreatAC
    • 45. Consult people you work with on your caseteam, but also take into consideration value of their time.Fellow ACsSACNew consultantExperienced consultantManager/CTLVPLeverage as a resourceLeverage their timeLeverage the time of those above you send short, focused voicemails push work to limit before meetings framework for questions ”This is my question. Here are the options, I believe this is the correct approach for the following reasons...I rejected the others for the following reasons..." think about issues talk with consultant, then manager/CTL Leverage the knowledge of people on your team fellow ACs on different workstreams first bounce ideas off consultantsPeople Resources - Caseteam45GreatAC
    • 46. A team is more than just consulting staff...Library CTC Graphics Mailroom/Copy Center/Facilities MIS Travel Receptionist/MCOs Training HR Finance RecruitingThe better your relationships with the Bain support network, the easier your job will bePeople Resources - Support Network46GreatAC
    • 47. Look at the Bain community beyond your caseteam as a resource for personal and professional growth.Meeting and interacting with people outside your caseteam (in addition to other first-year ACs) is valuable gives you a broader perspective on Bain (in and outside your office) gives you a chance to learn what other caseteams are working on teaches you about the success/problems that they experienced helps tremendously with informal staffing process people to talk to about pending cases gives you an additional source of advice and information sometimes issues arise on your case and it's useful to have someone else to talk to with you whom feel comfortable There are lots of opportunities to meet people at Bain: bay parties office parties/functions recruiting functions caseteam events training volunteer activitiesPeople Resources - Informal Relationships47GreatAC
    • 48. Proactively managing life balance is a way to sustain your Bain career.Determine what’s important to you Communicate your needs to your team set expectations up front okay to push back, depending on situation be reasonable and responsible Take vacations and breaks Don’t be afraid to follow your passions (besides adding value to your clients) Paul AC acted in a play Kay Consultant took four months off to swim competitively Sue AC signed up with colleagues for Thursday night wine tasting course Karen SAC took weekly kickboxing lessonsLife Balance48GreatAC
    • 49. Working 80 hours a week makes you a starMyth:Truth:Getting your work done and done well makes you a star if you have no life, you will not like this job if you do not like the job, you will not do good work if you do not do good work, you will not be a starSomeone is monitoring your hoursMyth:Truth:If you get your work done, no one caresIf I never do a cash flow/complicated model/RCP, I'll never be a good ACMyth:Truth:You are evaluated on how well you perform the work you need to do, not on all the types of tools you didn't useDebunking Some Myths49GreatAC
    • 50. Getting the job done Managing up The perfect client meeting Developing personal style Building a rewarding career Key takeawaysAgenda50GreatAC
    • 51. “New ACs need to pay attention to the details. It is absolutely essential that they put their decimals in the right place, label their axes, use the right units, and avoid careless errors in calculations. One or two careless errors can really affect our credibility.” “To be an exceptional AC, you need to ‘be at cause.’ That is, you need to take the initiative and assume complete responsibility for understanding an area and its issues.” “ACs need to be creative. Look at issues from a different perspective. Be thoughtful about how to use data and analysis. Break the mold and look for new paradigms.”“Plan before doing any work. Stop. Plan. Execute.” “There is a direct correlation between zero defect and time management/planning.” “Get done what you’ve been asked to do, first. Listen. Execute. Add.” “Communicate the timeliness required to get the job done. You know the work better than anyone else, and no one wants you working all the time.”“Always ask, ‘Why am I doing this?” “If you can’t picture the output, ask.” “Reality checking should be a way of life.”On execution:On planning:On stepping back:Takeaways: Insights from Your Predecessors (1 of 2)51GreatAC
    • 52. “Keep your manager/CTL updated on roadblocks.” “Don’t just communicate problems. Always suggest alternatives.” “If you don’t understand, ask.” “You need to overstructure your communications. And overcommunicate.” “Observe voicemail etiquette: On communication:On life balance:Keep it brief Communicate degree of urgency (FYI vs. need for immediate attention) Use the ‘urgent’ delivery option judiciously. Remember who you are sending the voicemail to. Default to Answer-First. Say what you need to say up front. Outline and organize your thoughts before picking up the telephone.”“Remember - it’s a marathon, not a sprint.” “Have fun.” “Get a life once in awhile.” “Work on the interest. Don’t exhaust your capital.”Takeaways: Insights from Your Predecessors (2 of 2)52GreatAC