HOW TO SOLVE PROBLEMS - How do consulting firms work (hypothesis-based problem solving explained)

How to solve tough problems? How do consulting firms work? How does hypothesis-based problem solving work? What methodology do consulting firms use on their projects? What is the consulting approach to problem solving? These are the questions that I answer in this video. I talk about hypothesis-based consulting, this is a consulting 101 skill that every consultant should master for a successful management consulting career. Solving problems is crucial for every business professional, becoming a good problem solver is key. Whenever you build issue trees or work with the MECE principle, it is often embedded into a hypothesis-based problem solving approach. The skill of hypothesis-based problem solving is crucial to solve business problems. This video is a consulting day in a life as you will apply this skill every day in consulting. Learn what it means to work in consulting, in a MBB consulting firm such as McKinsey, BCG or Bain. When you create management consulting presentations, this principle is relevant as well.

Chapters
00:00 Introduction
01:16 Intuition for hypothesis-based problem solving
04:21 Practical example for hypothesis-based thinking
07:03 Hypothesis-based problem solving explained
09:57 Wrap-up

🎓 COMMUNICATIONS AND SLIDE WRITING ACADEMY
Learn to communicate and create slide presentations like consultants at McKinsey, BCG or Bain. This is the Firm Learning flagship program:
link.firmlearning.com/slides

💡 CORPORATE TRAININGS FOR YOUR TEAM*
Heinrich offers corporate trainings on Communications, Slide Writing and Problem Solving. Learn more about opportunities to train your team:
link.firmlearning.com/forteams

📄 CV AND COVER LETTER TEMPLATE*
Get a CV and cover letter template based on my own documents. With earlier versions of this CV and cover letter, I successfully applied to McKinsey as consultant:
link.firmlearning.com/learning

✅ THINK-CELL - EXTENDED TRIAL AND SINGLE LICENSES*
think-cell is the leading PowerPoint tool to create professional slides. It is used by 8 of the top 10 consulting firms and the entire DAX 40. Get access to an extended free trial and single licenses:
link.firmlearning.com/think-cell-2022

👍 CHANNEL MEMBERSHIP
Become a member of Firm Learning to support my work and get access to perks:
link.firmlearning.com/join

📩 NEWSLETTER
Sign-up to the Firm Learning e-mail newsletter for more regular content:
link.firmlearning.com/e-mail

☑️ RECOMMENDATIONS*
Book recommendations: link.firmlearning.com/books
Travel like a consultant: link.firmlearning.com/travel
GMAT study material: link.firmlearning.com/gmatstudy
My video equipment: link.firmlearning.com/myequipment

💬 SOCIAL MEDIA
Instagram: link.firmlearning.com/instagram
TikTok: link.firmlearning.com/tiktok
LinkedIn: link.firmlearning.com/linkedin
Discord: link.firmlearning.com/discord
Twitch: link.firmlearning.com/twitch
Facebook: link.firmlearning.com/facebook

* Links are Affiliate or Sponsored links. I receive a fixed fee or revenue share whenever a purchase is made. The price for you stays the same. Thanks for your support!

All views expressed on this channel are private opinions of this channel's creator Heinrich. This is NOT an official channel of any consulting firm.