“Hypothesis: The client should enter one segment of the XYZ market. One segment of the market is growing and attractive. Client has… — Victor Cheng Competitive advantage Copy Share Image
“If you isolate the problem exceedingly well, usually the answer is extremely obvious, so stating your recommendation is just a formality, because… — Victor Cheng Copy Share Image
“When analyzing costs, it’s often useful to segment them into fixed versus variable costs. You can do this in two ways. One… — Victor Cheng Copy Share Image
“The overall mix between the two types of analysis is 70/30: 70 percent quantitative and 30 percent qualitative.” — Victor Cheng Copy Share Image
“In this last example, it would’ve been much better to say, “Under most circumstances, the client should do X.” It’s much easier… — Victor Cheng Copy Share Image
“In this example, being “accurate enough” gets the job done in four weeks, whereas being “precisely accurate” requires six weeks.” — Victor Cheng Job Done Copy Share Image
“As you “drill down,” you ignore the parts of the business where the problem does not exist to focus on the areas… — Victor Cheng Business Copy Share Image
“You want to run this conclusiveness test on each branch of your issue tree (to see if perhaps that branch should be… — Victor Cheng Copy Share Image
“Once you have enough insight to state a refined hypothesis, you’ll want to do one of two things: (1) Work through the… — Victor Cheng Wisdom Copy Share Image
“Synthesis involves stating your conclusion in a way that Tells the client what to do Tells the client what you discovered and… — Victor Cheng Business Copy Share Image
“The company noticed that its customers spent a lot of money to maintain their GE equipment, but because GE didn’t offer maintenance… — Victor Cheng Business Copy Share Image
“I can’t emphasize enough how critical it is for you to realize that a framework is really just an issue tree, and… — Victor Cheng Copy Share Image
“Because the profitability framework won’t give me the additional information I need about customers and competitors, I’ve officially exhausted its usefulness. My… — Victor Cheng Copy Share Image
“The final test of a valid issue tree is to ensure that using it will produce relatively conclusive results. What I mean… — Victor Cheng Copy Share Image
“Candidate: To better understand what’s going on for Omega & Omega and its industry, we need to look at four key areas:… — Victor Cheng Business Copy Share Image
“the easiest way to define the problem is to isolate the problem by using the process of elimination to identify what the… — Victor Cheng Problem solving Copy Share Image
“(sometimes it makes sense to buy a competitor in order to shut it down) as a way to boost industry prices.” — Victor Cheng Copy Share Image
“This entire process, convoluted as it seems, exists in large part because first-year consultants have not yet proven their ability to solve… — Victor Cheng Copy Share Image
“To test the sub-hypothesis “Client has a strong, sustainable competitive advantage in the market,” you need to understand the differences between the… — Victor Cheng Competitive advantage Copy Share Image
“I recently took a client through this process, and one of the team members said to me, “It was very interesting that… — Victor Cheng Team Members Copy Share Image
“Candidate: Well, this is really interesting. So far we’ve established that digital advertising is the spending category that’s growing, and the most… — Victor Cheng Technology Copy Share Image
“Questions on the following topics can help you identify helpful information about the company that you can then use to refine your… — Victor Cheng Brand loyalty Copy Share Image
“Once this happens, no matter where I am in the framework, I immediately synthesize, revise my hypothesis, and determine what is the… — Victor Cheng Copy Share Image
“Clients probably have a lot of intuitive problem solvers on staff already, and each employee has his or her own opinion. But… — Victor Cheng Problem solving Copy Share Image
“quantitative analysis is often not useful in determining why a certain decision in a client organization was made and how certain processes… — Victor Cheng Copy Share Image
