Really enjoying ChatGPT

If you have not tried ChatGPT, please stop reading this blog post and do that first. It’s worth your time.

Massive hype

The amount of (probably justifiable) hype on ChatGPT cannot be understated. Heck, my dad sent me a 20+ min video on how ChatGPT work in Korean language. As Gary Vaynerchuk might say, “welcome to the present.”  

We are all surprised by ChatGPT – perhaps because Amazon Alexa has been so rudimentary for so long. 

It’s good, scary good

I am authentically amazed by how fluently it clobbers information into a summarized format that “my cousin” could understand.  What’s even more cray, is that this thing is continually improving. Deep learning = keeps getting better as there is more training data (which there will be) and we help to reduce the error in its optimization.

Basically, it learns with our help.

For someone who is a huge fan of the 80/20 principle and getting to the point quickly, ChatGPT (and it’s many many future iterations), this is high value, low effort, useful stuff.  Is it perfect, no. The internet is not perfect either.

10+ years vs 1 hour

I’ve been writing about consulting for 10+ years. This is what I chatGPT in 1 hour, not counting the time to copy/paste/format. (Basically, the slowest part of this blog post is John).

1. Common questions 

John: “What are the 10 most popular questions asked on reddit about consulting?”

As an AI language model, I don’t have access to the real-time information to provide the most up-to-date information on the most popular questions asked on Reddit about consulting. However, I can provide you with some general topics that may be commonly discussed on Reddit in relation to consulting:

• How to prepare for a consulting case interview?
• What are the best consulting firms to work for?
• What are the salaries like in the consulting industry?
• What are some common challenges faced by consultants?
• What skills are necessary to become a successful consultant?
• How does one break into the consulting industry?
• What is the culture like at consulting firms?
• How do consulting firms differ from one another?
• What are some examples of successful consulting projects?
• What are some resources or books to learn more about consulting?

Of course, these topics are not exhaustive, and there are likely many other questions and discussions related to consulting on Reddit.

2. Resume advice 

John: “What advice do you have to resume writing targeting consulting firms?”

As an AI language model, I can provide you with some tips to help you write a resume that targets consulting firms:

• Tailor your resume to the consulting industry: When applying to consulting firms, it’s important to highlight your relevant experience and skills. This can include experience in project management, data analysis, business strategy, or problem-solving. Use keywords that are relevant to the consulting industry, and make sure your resume reflects the skills and experiences that consulting firms value.
• Highlight your achievements: Instead of simply listing your responsibilities, highlight your achievements in each of your previous roles. Use metrics to quantify your impact, such as cost savings, revenue growth, or increased efficiency. This can help demonstrate your ability to deliver results and solve complex problems, which is highly valued in the consulting industry.
• Emphasize your education: Many consulting firms place a high value on academic credentials. Make sure to highlight your degrees and any relevant coursework, including any coursework in business, economics, or other related fields. If you have achieved any academic honors or awards, be sure to include them as well.
• Use a clear and concise format: Your resume should be easy to read and visually appealing. Use a simple and clean format, and make sure your key experiences and achievements stand out. Avoid lengthy paragraphs and use bullet points to make your resume more skimmable.
• Include relevant extracurricular activities: Consulting firms often value well-rounded candidates who have shown leadership and initiative outside of their academic or professional experiences. If you have participated in relevant extracurricular activities, such as leadership positions in clubs or organizations, make sure to include them on your resume.
• Proofread and edit carefully: Finally, make sure to proofread your resume carefully and check for any errors. Have someone else review your resume as well to catch any mistakes you might have missed. A polished and error-free resume can help demonstrate your attention to detail and professionalism.

Remember, the goal of your resume is to stand out among other candidates and demonstrate your fit for a consulting role. By tailoring your resume to the consulting industry, highlighting your relevant experiences and achievements, and presenting your information in a clear and concise format, you can increase your chances of landing an interview with a consulting firm.

3. Case interview advice

John: “What advice do you have for a consulting case interview?

As an AI language model, I can provide you with some general tips that may be helpful for a consulting case interview:

• Be familiar with the case interview format: Consulting case interviews usually involve a business problem or scenario that you are asked to analyze and solve. The interviewer may also ask follow-up questions to test your critical thinking and problem-solving skills. It’s important to be familiar with the case interview format and practice with sample cases to prepare.
• Listen carefully to the interviewer: Listen carefully to the interviewer’s instructions and take time to fully understand the problem presented. Repeat the problem statement and ask clarifying questions to make sure you have a clear understanding of the case.
• Structure your analysis: Before jumping into solutions, take some time to structure your analysis. This can involve breaking down the problem into smaller parts, identifying the key issues, and creating a hypothesis or framework for your analysis.
• Communicate clearly and concisely: As you work through the case, it’s important to communicate your thought process clearly and concisely. Use simple language and avoid jargon or technical terms. Make sure you articulate your assumptions and provide clear reasoning for your conclusions.
• Be creative and flexible: Don’t be afraid to think outside the box and consider creative solutions to the problem. However, be prepared to adjust your approach if your initial hypotheses prove incorrect or if new information is presented.
• Practice, practice, practice: Practice is key to performing well in a consulting case interview. Try to practice with as many cases as possible and seek feedback from others to help identify areas for improvement.

Remember, a consulting case interview is not just about getting the right answer, but also demonstrating your problem-solving skills and ability to think critically under pressure. Good luck with your interview!

4. Job advice

John: “How to succeed as a junior consultant?”

As an AI language model, I can provide you with some general tips on how to succeed as a junior consultant:

• Be eager to learn: As a junior consultant, you will likely be working with more experienced consultants and have the opportunity to learn from their expertise. Be eager to learn from your colleagues and ask questions to deepen your understanding of the consulting process.
• Develop your skills: To succeed as a consultant, it’s important to develop your skills in areas such as data analysis, problem-solving, and communication. Take advantage of any training or development opportunities provided by your firm, and seek out feedback from your colleagues to identify areas for improvement.
• Be proactive: Don’t wait for others to give you tasks or assignments. Be proactive in identifying opportunities to contribute to projects, and be willing to take on new challenges. This can help demonstrate your initiative and commitment to your role as a consultant.
• Build relationships: Building relationships with your colleagues, clients, and stakeholders is an important aspect of consulting. Take the time to get to know the people you work with, and be willing to collaborate and communicate effectively with others.
• Manage your time effectively: As a consultant, you will likely have multiple projects and tasks to manage at once. It’s important to manage your time effectively to ensure that you are meeting your deadlines and delivering high-quality work. Use tools such as calendars and to-do lists to stay organized and prioritize your tasks.
• Communicate effectively: Communication is key in consulting. Be clear and concise in your communication, and make sure to listen actively to others. Take the time to understand the needs of your clients and stakeholders, and be willing to adapt your communication style to meet their needs.

Remember, as a junior consultant, you have a valuable opportunity to learn and grow in the consulting industry. By being eager to learn, developing your skills, being proactive, building relationships, managing your time effectively, and communicating effectively, you can increase your chances of success as a consultant.

5. Presentations

John: “What is a great consulting presentation?”

A great consulting presentation should effectively communicate your recommendations, insights, and findings in a clear, compelling, and impactful way. Here are some tips on how to create a great consulting presentation:

• Define your audience and objectives: Start by defining who your audience is and what you want to achieve with the presentation. This can help you tailor your message to your audience and ensure that you are focusing on the most important issues.
• Structure your presentation: Use a clear and logical structure for your presentation, with a clear introduction, body, and conclusion. Make sure that your presentation flows well and is easy to follow, with clear signposting between sections.
• Use visuals: Visual aids such as charts, graphs, and diagrams can help illustrate your points and make your presentation more engaging. Make sure that your visuals are easy to read and support the main points of your presentation.
• Focus on key messages: Identify the key messages or recommendations that you want to convey, and focus your presentation on these. Avoid overwhelming your audience with too much information or data that may distract from your main points.
• Use storytelling techniques: Use storytelling techniques to help bring your data and recommendations to life. Use real-life examples and anecdotes to illustrate your points and help your audience better understand the impact of your recommendations.
• Practice your presentation: Practice your presentation several times before delivering it, to ensure that you are confident, well-prepared, and able to deliver your message effectively.
• Be ready to answer questions: Anticipate potential questions or objections from your audience, and be ready to address these in a clear and concise manner. This can help demonstrate your expertise and credibility, and build trust with your audience.

By following these tips, you can create a great consulting presentation that effectively communicates your message, engages your audience, and helps you achieve your objectives.

6. Statement of work 

John: “What are the typical elements of a consulting statement of work?”

A consulting statement of work (SOW) is a document that outlines the scope of work to be performed by a consulting firm or individual for a client. The specific elements of a consulting SOW can vary depending on the project and the client’s needs, but typically include the following:

• Project overview: A brief description of the project, including the objectives, scope, and timeline.
• Deliverables: A detailed list of the specific deliverables that will be provided by the consulting firm, such as reports, analysis, or recommendations.
• Project team: A list of the consulting team members who will be working on the project, including their roles and responsibilities.
• Timeline: A detailed timeline of the project, including key milestones, deadlines, and deliverable due dates.
• Scope of work: A detailed description of the specific tasks and activities that the consulting firm will perform to achieve the project objectives.
• Budget: A detailed breakdown of the costs associated with the project, including the consulting fees, expenses, and any other costs.
• Assumptions and dependencies: A list of any assumptions or dependencies that the consulting firm is making in order to complete the project, such as access to certain data or information.
• Governance: A description of the project governance structure, including the roles and responsibilities of the project sponsor, project manager, and other stakeholders.
• Terms and conditions: A list of the terms and conditions that will govern the consulting engagement, including payment terms, intellectual property rights, and any other legal or contractual considerations.

By including these elements in a consulting SOW, the consulting firm and the client can ensure that both parties have a clear understanding of the scope of work, timeline, budget, and other key aspects of the project. This can help to establish a clear framework for the consulting engagement and promote a successful outcome. 

7. Data request

John: “Best way to get client to respond to your data request?”

Getting clients to respond to data requests is an important part of a consultant’s job. Here are some tips to increase the chances of getting a response from the client:

• Be clear and specific: Make sure that your data request is clear and specific. Provide a clear description of what data you need, why you need it, and how it will be used. This will help the client understand the importance of the request and increase the likelihood that they will respond.
• Set a deadline: Be clear about the deadline for the data request, and communicate it to the client. This will create a sense of urgency and increase the likelihood that the client will respond in a timely manner.
• Follow up: If you do not receive a response within a reasonable timeframe, follow up with the client. Be polite and professional, and remind them of the importance of the data to the project.
• Build a relationship: Building a positive relationship with the client can also increase the likelihood of getting a response. Take the time to understand the client’s needs and priorities, and communicate with them regularly. This can help to build trust and improve communication.
• Be flexible: Sometimes clients may not have the data you need, or they may not be able to provide it within the timeframe you need. In these cases, be flexible and willing to work with the client to find alternative solutions.
• Explain the benefits: Explain to the client how the data will be used and how it will benefit the project. This can help to create buy-in and increase the likelihood that the client will respond to your request.

By following these tips, you can increase the chances of getting a response from the client to your data request. This can help you to complete your analysis and deliver high-quality results to the client.

8. Best way to say “No”

John: “What’s the best way to say no to my boss for an unreasonable request?”

Saying no to your boss for an unreasonable request can be a difficult and delicate situation. Here are some tips on how to handle the situation in a professional and respectful manner:

Understand the request: Before saying no, make sure you fully understand the request and the reasons behind it. This can help you identify any potential compromises or alternatives.

Clarify your own priorities: If the request conflicts with your own priorities or workload, be clear and transparent with your boss about your other commitments and the impact the request may have on your ability to deliver on your current tasks.

Be honest: It’s important to be honest with your boss about your concerns and limitations. Don’t make excuses or avoid the issue – be clear and direct about why you believe the request is unreasonable and why you are unable to fulfill it.

Offer alternatives: If possible, offer alternative solutions or compromises that may help address your boss’s needs while also meeting your own priorities and limitations.

Stay professional and respectful: Regardless of the outcome, it’s important to remain professional and respectful in your communication with your boss. Avoid getting defensive or emotional, and focus on finding a solution that works for both parties.

For example, you could say something like: “I appreciate the urgency of this request, but given my current workload and commitments, I don’t believe I will be able to deliver the quality of work that is expected within the timeframe provided. Is there any flexibility on the timeline or scope of the request? Alternatively, I could recommend another colleague who may be better suited to take on this task.”

Remember, it’s important to communicate with your boss in a respectful and professional manner, while also being clear and honest about your limitations and priorities.

9. What is www.ConsultantsMind.com about?

John asks: “What is the www.consultantsmind.com about?

The website www.consultantsmind.com is a blog that provides insights, advice, and resources for management consultants and those aspiring to become consultants. The site is authored by a former management consultant with experience at several top-tier consulting firms.

The blog covers a wide range of topics related to consulting, including strategy, problem-solving, client management, team dynamics, career development, and work-life balance. The articles are written in a conversational style and often include personal anecdotes and real-world examples.

In addition to the blog articles, the site offers several resources for consultants, including book recommendations, templates, and toolkits. The author also offers coaching and consulting services for individuals and organizations.

Overall, www.consultantsmind.com is a valuable resource for anyone interested in the consulting industry, from aspiring consultants to seasoned professionals. The site offers practical advice and insights to help readers succeed in their consulting careers. 

10. Consulting rap (for fun)

John: “Rap about consulting travel including comments about credit miles, plane upgrades, client interviews, SWOT, MS Teams, pyramid principle, final deliverables, billable hours, PowerPoint, excel”

Consulting travel, let’s talk about the grind,
Credit miles, plane upgrades, it’s all on the line,
Hitting the client site, for interviews and more,
SWOT and analysis, it’s what consultants are for.

From the pyramid principle to final deliverables,
Every step of the way, it’s about being reliable,
Putting in the billable hours, making sure it’s right,
Presenting the deck, and making the client’s day bright.

Excel and PowerPoint, the tools of the trade,
Making sure the data is clean, and the story’s conveyed,
From the boardroom to the hotel, the work never stops,
It’s a way of life, that’s just how it rocks.

But it’s not all about work, and that’s a fact,
Consultants know how to have fun, and that’s how they react,
From exploring new cities, to trying new cuisine,
Making memories, that are sure to boost their esteem.

So let’s raise a glass, to consulting travel,
It can be tough, but the rewards are ample,
From credit miles to final deliverables,
It’s what we do, and we do it well, that’s undeniable.

This matters

I wish Peter Drucker were alive because I would want to know what he thinks of all of this. He coined the term “knowledge worker” in 1959 (thanks ChatGPT) because humans created massive value through their ability to search, process, correlate, arbitrate, validate, extrapolate, prioritize, communicate, write, edit, and persuade with data.

11. What would Peter Drucker think?

If you know my sense of humor, you saw this coming:

John: “What would peter drucker think of ChatGPT?”

It’s difficult to say for certain what Peter Drucker would think of ChatGPT, as he passed away in 2005 and therefore did not have the opportunity to witness the development of artificial intelligence and natural language processing to the extent that we have today. However, based on his writings and teachings, there are a few possible perspectives he might have had:

Recognition of the value of technology: Drucker was a strong advocate for the strategic use of technology in business and believed that it could greatly improve organizational efficiency and productivity. He likely would have recognized the potential value of an AI-powered language model like ChatGPT in facilitating communication, problem-solving, and decision-making.

Emphasis on the human element: While Drucker recognized the importance of technology, he also believed that people were the most important asset in any organization. He emphasized the need for effective leadership and management to engage, motivate, and develop employees. In the context of ChatGPT, Drucker may have been interested in how the technology could be used to supplement human intelligence and collaboration, but may also have stressed the importance of maintaining a focus on human interactions and relationships.

Concerns about unintended consequences: Drucker was often critical of the unintended consequences of technological advancements, and emphasized the importance of considering the long-term implications of new technologies. In the context of ChatGPT, he may have raised questions about potential ethical concerns, such as privacy and security, or the impact of AI on the job market and societal inequalities.

Overall, it’s impossible to say for certain how Peter Drucker would have viewed ChatGPT specifically, but his writings suggest that he would likely have been both intrigued by its potential and cautious about its implications.