180DC Academy | Module 1: Consulting 101

Summary

Jasmine Ilia, director of marketing at 180 degrees Consulting, introduces the seven-step consulting process as part of the 180° Consulting Academy. The session focuses on defining the problem, creating a problem statement, and formulating hypotheses. It covers brainstorming for problem statements, identifying root causes, and using tools like PESTAL, PORTER's Five Forces, and SWOT for top-down analysis. The module aims to equip consultants with foundational skills and logical thinking to tackle business challenges.

Takeaways

• 🔍 The first step in the consulting process is defining the problem, which is crucial as it sets the direction for the entire consulting journey.
• 📝 Problem statements can be broad and open-ended during brainstorming, guiding discussions towards goals without specifying the process.
• 🎯 The goal of problem statement brainstorming is to achieve specific, sometimes quantified objectives, such as understanding consumer needs or increasing efficiency by a certain percentage.
• 🚀 A problem statement serves as a guiding question throughout the consulting process, aiming to mitigate an issue or address a new opportunity.
• 🏢 In the case of Company X, the goal is to increase profitability and mitigate price pressure from new entrants with aggressive pricing strategies.
• 🤔 As a consultant, fostering a hypothesis-driven logic is essential, such as hypothesizing about weak pricing strategies or unexplored marketing opportunities.
• 🔑 Hypotheses gathered during brainstorming can form the basis for a fact base, which is then used to prove or disprove the hypotheses.
• 🌳 It's important to differentiate between symptoms of a problem and the actual root cause, using techniques like Five Whys or Six Sigma to uncover the root cause.
• 📊 A top-down analysis approach involves examining the external business environment, industry, and company in a hierarchical order, starting from broad perspectives and narrowing down to specifics.
• 🛠 Tools like PESTAL, PORTER's Five Forces, and SWOT can be used for market and industry analysis, while frameworks like SWOT or FREO can analyze the internal capacity of a business.
• 🛡 Solution formulation is an experiential learning process with no one-size-fits-all approach; it's key to address the root cause and consider the specific context of the business case.

Q & A

What is the first step in the seven-step consulting process discussed by Jasmine Ilia?

The first step in the seven-step consulting process is defining the problem, which is crucial as it lays the foundation for the entire consulting process.

What are the two types of problem statements mentioned in the script?

The two types of problem statements are typical brainstorming, which is broad and open-ended, and specific, quantified goals that guide towards a particular objective.

Why is it important to frame the problem statement as an objective?

Framing the problem statement as an objective ensures that the consulting process is directed towards either mitigating an issue or addressing a new opportunity effectively.

What is the purpose of brainstorming in the consulting process?

Brainstorming in the consulting process is used to generate ideas and hypotheses that can lead to specific, quantified goals, and it serves as a guiding question throughout the consulting process.

Can you provide an example of a problem statement from the case study of Company X?

A problem statement for Company X could be: 'What strategy or product development can Company X implement to increase profitability and mitigate the price pressure from new entrants?'

What is the role of hypothesis-driven logic in the consulting process?

Hypothesis-driven logic is used to formulate potential causes for the problem, which are then tested through fact-based analysis to either prove or disprove them.

How does one differentiate between a symptom and the root cause of a problem in consulting?

To differentiate between a symptom and the root cause, one must conduct a thorough analysis using methods like the Five Whys, PESTEL, PORTER's Five Forces, or SWOT, and avoid confusing symptoms for the underlying issues.

What is the significance of a top-down analysis in the consulting process?

A top-down analysis allows consultants to examine the external business environment, industry, and company in a hierarchical order, starting from a broad perspective and narrowing down to specific details for a comprehensive understanding of both external and internal factors.

What tools are suggested for conducting a top-down analysis in the script?

The suggested tools for a top-down analysis include PESTEL for market conditions, PORTER's Five Forces for industry competitiveness, SDP for customer segmentation, and SWOT or FREO for internal business capacity.

What are the three types of marketing strategies mentioned in the script?

The three types of marketing strategies are targeted strategy, which focuses on specific market segments or locations; value proposition, which enhances product, service, or pricing; and go-to-market strategy, which focuses on distribution, sales, and marketing.

How does the script emphasize the importance of creativity in consulting?

The script emphasizes creativity by suggesting that while there are standard frameworks like PESTEL, PORTER's Five Forces, and SWOT, consultants should feel free to create their own analysis frameworks to suit the unique needs of each case.