Part II: Speed
If I Were 22: Advice From a B Student
Mark Weinberger/Chairman and CEO EY
[Time 2]When I attended Case Western Reserve University School of Law and the Weatherhead School of Management, I was an “OK” student. At least I thought so. My professors probably wouldn’t remember me as a standout. Now, why would anyone want to take any advice from me? That’s a really good question. I worked hard at graduate school, and I enjoyed my time there. But here’s what I would tell my 22-year-old self back then: There is more than one path to a successful career and a satisfying life. Don’t get me wrong: A high GPA is a worthy goal and great achievement. But, learning how you learn, and what your passion is, is more important than what you learn. At the end of the day, your relationships, experiences and the risks you take are going to have an equal or greater impact on your accomplishments. Let me tell you a little bit about my experience after finishing graduate law and business school: •I spent a decade in government without ever studying politics; •I started my own law and lobbying firm without ever actually practicing law before; •I now run a global professional services firm even though my primary training is as a lawyer and economist. Do you see a pattern? And, with that, here’s the advice I’d offer to current 22-year olds: [222 words]
[Time 3]Stay open to every possibility You are the CEO of your own life. You can chart your own path. Only you can decide where you go once you walk out of school, so stay open to every possibility – because school has prepared you to do more than you can imagine. I have constantly tried to challenge myself to take on new risks and experiences. My lesson is don’t feel limited by the degree you’ve received. The kind of skills that are more necessary in this century are the ability to think critically, to take on any challenge that comes your way, to construct an argument – and stick by it. Within a few years, many of you will be working jobs that didn’t even exist a decade ago. Remember, you may change your career entirely several times. And that’s exciting. As you’re traveling through this changing world, the most important thing you can do is to keep learning your whole life. And never be afraid of anything, even if it’s totally new or completely unknown. That way, when your big opportunity comes along, you’ll be ready to seize it. The world will find your limitations. Only you will find your opportunities. This is a world with more opportunities available to you than any previous generation. It’s a world where 147 of the Fortune 500 companies are headquartered in emerging markets. Nine years ago, it was fewer than 50. It’s a world where 90 percent of all the data that exists was created in the past two years. The world is changing, and it’s changing fast. This is no time to think about limits. The future is never made by those who focus on limitations. It is made by people who focus on possibilities. History is made by people who understand that they might not be able to control all of their circumstances – but they can control their attitude. When you walk into a room, bring possibilities with you. Don’t be a person who only thinks of the downside, who sucks life out of the room. No one wants that person at their table. So go out there, pursue different opportunities and find your seat at the table. No one else will do it for you. [374 words]
[Time 4] Find balance, keep your commitments As much as you focus on your seat at the conference table, your seat at the dinner table is just as important. Eventually you’re going to build lives and families that matter to you more than any job. That’s a good thing; it’s the bestthing. But I’m not going to lie to you; it’s also tough. No matter what you do in life, it's human nature to think about what you're not doing somewhere else. That’s why I believe so strongly in finding a balance between your work life and your home life. I was at one of my first leadership meetings in China giving a speech that I had prepared hard for. I was a little nervous, and wanted to make a good impression. In answering a question, I had to admit that I was leaving the meeting early because I had another commitment: My daughter was taking her driving test, and I’d promised to be there. I left the meeting, got on a plane and made it home to take her to the test. (Yes, she passed.) No one remembered my great speech that day, but I received hundreds of emails admiring my decision to keep my commitment to my daughter. I love my job, and it’s been one of my most humbling opportunities. But when I was chosen as CEO, I had a condition: No matter where I am in the world, I need to be home every weekend. Finding that balance between your career and the rest of your life is crucial. No matter how fast your career is moving, you need to stop occasionally and evaluate what really matters to you. If the life you’re building doesn’t leave enough room for the people and things that you love, then you need to stop and change course. [306 words]
[Time 5] Never forget who you are or where you came from My last advice is also my best advice. It’s something I learned from my dad. No matter where I went or what I achieved, he always said the same thing: “Mark, never forget who you are or where you came from.” Whenever I got a promotion, I would call him, and he would congratulate me. But then he would say, "Remember: I love you no matter what your title is." To me, those words were more important than any achievement. They meant it all. Don’t forget who you are and who helped get you to this point. Maintaining that unique perspective will help you continue to reach new heights as you build your career. Final thoughts Today’s 22-year olds are worldlier, more technologically advanced, more connected and more socially aware than any before. You’ve lived with almost no barriers restricting your access to information, people or nations – and you won’t let any barriers restrict your success, either. The ingredients for success are already in your hands. Now you just need to work – and take risks – to seize all that potential and build an incredible life. You now have a great opportunity to make your imprint on history. So, please, go out there and take this chance. In fact, take a lot of chances. I can’t wait to see what your generation does next. [233 words]
Source:linkedin
http://www.linkedin.com/today/post/article/20140528223252-221472969-if-i-were-22-advice-from-a-b-student
What McKinsey consultants think they can teach bankers by Julia Lemarchand
[Warm up]
When consultants get pedagogic There are things that strategy consultants know and the rest of the world doesn’t. If you’re in any doubt as to the truth of this statement, check out this post on Quora by an ex-McKinsey consultant who claims to have some special insights to share with the world at large. The ex-consultant in question is Robert Barham, who spent two years at McKinsey before leaving to join the ‘internet industry.’ This is what Barham thinks he can impart: [82 words]
[Time 6]1. Think diagrammatically Consultancy types believe life is far simpler if you configure problems in a logical and schematic way. Got a problem? Dissect it. Look at the paths you can take and their likely outcomes. “Our brains function like diagrams,” opines Barham. To illustrate this, he offers the diagram below. 2. Let figures do the talking Diagrams have a place. So do figures. If you employ figures to tell your story, you can help change clients’ opinions – but only if you have an instinct for finding the story behind the figures and explaining its meaning. This is what consultants have, says Barham. They know it’s not just about presenting a collection of figures, but presenting a version of reality – which is often complex and nuanced. 3. Speak to your manager every week Some people in the banking industry interact with their managers rarely. This is not the case in consulting. In consulting weekly meetings with managers are the norm according to Barham. He says that consultants at McKinsey have weekly manager meetings that last anything from 30 minutes to one hour. During this time they will be thoroughly debriefed on the projects they’re working on. Every six months they’re also subject to an exhaustive formal evaluation. Barham says this time is “extremely precious.” If you’re going to develop at work, you need to know what you’re doing right and what you’re doing wrong. 4. Know how to work in teams Bankers like to think they can work in teams. At Goldman Sachs, teamwork is one of the golden behaviours that will get you hired. But bankers’ team working abilities are nothing compared to those of consultants. Barham says consultants are masters of team achievements because their teams switch very often, as dictated by projects and turnover. For these highly mutable teams to function, the consultants comprising them need to spend a lot of time interacting while the projects take place. These interactions aren’t just about the work to be done. They also cover the personalities of the team members involved, their work styles and their competencies. This is how you really optimize a team says Barham. Succeeding at teamwork is as much to do with the way the team is consolidated as with the fact that several people are working together, he adds. [385 words] Source:efinancialcareers
http://news.efinancialcareers.com/cn-en/174403/mckinsey-co-consultants-think-can-teach-bankers/ |