How to start and run consulting firm fast and efficiently

1
How to start and run a successful
consulting business?
Practical guide

2
In this presentation I will show you
how to start and run consulting
business. You will find here a lot of
practical tips

3
Source of ideas for consulting business
We will start by showing were you can find ideas for
consulting business

4
Getting your first customers Pricing Tools
Later we will discuss ways in which you can get new
customers, what tools you can use and how you should set
up the pricing

5
Scaling of the business
Add-on business
Once you are done with the basics I will show you how to
scale the business and what add-ons you can have

6
Scaling of the business
Add-on business
1-man show
freelancer
As a separate part we will discuss the small consulting
practices (1-man show / freelancers)

7
What I will show in part of extensive on-line course where you
can get all additional resources including Excels
Click to check my course
How to start and run a successful consulting
business?
$190
$50

11
With consulting you can reach things that were out of your
reach
Consulting  Professional help in achieving certain goal
 Way to fill-in the gaps
=

12
You maybe surprised but actually there are plenty of good
reasons why companies hire “overpaid” consultants
They want to get better /
faster / more efficient
They do not have certain
competence /skill
They lack capacity to do
something
Sudden unrealistic deadlines
Required by owner or
regulator
Turn arounds
They need independent view
One-off events

13
Consultants help you move
faster in the right direction

14
Around what you can
build consulting?

15
You can build your consulting around specific customer
segment
Around segment
Examples

16
….or around service / product
Around segment
Examples
Around service / product

17
Some companies use a mix of those 2 tactics
Around segment
Examples
Around service / product

18
Where you can get idea for your
consulting businesses?

20
If you have already some business existing, you can create consulting to
help you solve your problem. First you create internal department to take
care of your need Old business
New department

21
Once you get the proper quality of service and profitability you
grow it and separate into stand alone
business
Old business
Consulting business

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There are plenty of nice examples of such companies
Old business
Consulting business
Examples of such businesses
 Consulting on Adwords / facebook / SEO /
content marketing that you needed to
master and there was no decent provider
 Consulting to support the sales of
software, (including SaaS) that you have
produced
 Consulting to support good usage,
maintenance of your B2B product
(machine, production line)

23
For this method to work you need to have certain
things occurring
 You are one of the best / first users
 You have easy access to the underlying good
 You have some cost advantage because you buy
in bulk
 The specific underlying good / service is
complicated to master or changes fast
 Customer do not want to make out of the
knowledge you are providing competitive
advantage

25
You can also create consulting business by carving out a
department from existing company Current
departments

26
You have to identify the department that you will transform
into stand alone business and start running
it as a separate business unit
Old departments
Carved out part
that will be
changed into
consulting

27
Once it is big enough you can make it into separate entity
Old departments
Carved out part
that will be
changed into
consulting

28
There are plenty of nice examples of applying this strategy
 Marketing departments
 Sales department
 Analytics / Market Research / Pricing
departments
 R&D departments
 Technical support
 Shared Service Center
 Project Management
Old departments
Carved out part
that will be
changed into
consulting

29
For this method to work you need to have certain things
occur
 People in the specific departments have very
volatile utilization
 Running the department requires huge
investment into people, trainings and software
 Department has become relatively big and the
company does not have skills in running a
consulting company
 The demand of the company for the service
offered by the department is irregular

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One of the ways to clone is to clone 1:1 the whole business
 Consulting on Adwords / facebook / SEO /
content marketing that you needed to
master and there was no decent provider
 Consulting to support the sales of
software, (including SaaS) that you have
produced
 Consulting to support good usage,
maintenance of your B2B product
(machine, production line)

32
For this method to work there are number of factors that
may improve the odds
 Market is mature and ready for specific
consulting services
 There are foreign companies that are
used to this type of service
 The group you are targeting is
sufficiently big to support a business
 There are no cultural barriers to using
consulting
 Fees are acceptable
 Low level of government in the economy

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You can also clone the idea and adjust it to a different
segment / group of customers

34
 Market is mature and ready for specific consulting
services
 The group / market to which you are switching has
to be big enough to support a business
 The consulting companies you are coping for
some reason have low incentive to enter specific
market (low size, their strategy that assumes
focus etc.)
 There is a niche that is not served well by current
consulting companies

35
Walk away and
become independent

36
In same cases the consulting business is created by a bit
forceful division Other departments in your old
company
Your departments

37
You either join another big corporation or you build your own
business Other departments in your old
company
Your departments
Other departments in the new
company

38
There are plenty of good examples for both cases
 Department in banks
 Group of people / department in
consulting – usually serving specific group
of customers or 1 type of service
 Department from training company
 Department from software company
Other departments in your old
company
Your departments
company

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If you have some business you can creating consulting to help
you solve your problem
 Department in banks
 Group of people / department in
consulting – usually serving specific group
of customers or 1 type of service
 Department from training company
 Department from software company
company
Your departments
company

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 The customer will follow you
 You take all the competence from your previous
company
 The company you join has almost none of your
competence
 The company you join has customer to whom you can
sell your product
 You can take the references
 Low threat of second-wave division
 You have sufficient money gathered to survive the dry
season and projects sliding

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Product / service to
consulting

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You can create a consulting on the basis of existing product or
service
Agency
Implementation consulting
company
Implementation consulting
(set-up, purchase, run)

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 Product or service is complicated and changes a lot
 The customer has no resources to master it
 It is a one-off
 You have better access to the producer of the product
/ service
 You have the support of the producer

44
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45
Business model of a service
company

46
Introduction to service
companies

47
Service companies in general are all about converting your
workers time into money
Man-hours

48
There are some general rules that you should follow
Measure man-hours
Measure tasks
Stay productive and
efficient
Make sure supply matches
demand
Forecast and create
demand
Manage supply ahead of
time
Make sure that margins are
OK

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Business model of a
consulting company in Excel

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The typical model of a service model can be presented using
this logic
 % Utilization# hours
available
# of billable
hours
Revenues
Gross
Margin
Operational
Profit
Net Profit
 Hourly fee
 HQ costs
 Bonuses
 Interest
 % Gross
Margin
 Wages

53
The easiest way to get the customer is to steal them from
your competitors

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As a first step you have to show the customer somehow your offer,
especially when the relation between the customer and current consulting
company is about to end

55
If you are successful in your move you will get a launching /
reference customer

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There are number of situation when you can pull it off
successfully
When you can pull it off
 Carve out
 Walk away with customers
 Buy out the customer
 Bribe the customer
 Use external pressure on competitor or
the customer

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Take over director / partner
from a competitive company

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You can try to establish a consulting company by convincing a
senior personal with a good relation with customers to join
you
When you can pull it off
 There is internal reason for the departure
(i.e. the director does not fill happy in the
company)
 He can walk away with customers
 There are no legal problems with
implementing the switch of customers
 There is no barrier related to the brand of
the company you are breaking apart
 The partner you taken over has to be able
to generate new customers as well
 There may be legal reasons for this move
to be favored by the consulting company
(i.e. they cannot keep certain business by
law)
company
The department / director you
want to join you

60
For some consulting services you can start with marketplaces
Step 1
 Find the right marketplace
for you
Step 2
 Do great job for a small
task
Step 3
 Try to move away from
marketplace and expand
the contract

61
You can try number of different type of markteplaces
Graphics Startups related Lawyers
General for
freelancer

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Marketplaces are a good solution in a number of situations
You are offering simple service
You are targeting smaller customers
You need some reference
You are not that much into making
big money
Services where you have thousands
of customers
There is potential for longer
cooperation outside the
marketplace

64
For some consulting services you can get customers by proper
content marketing
Step 1 – Generate Traffic
 Create content
 Generate traffic to your
blog
Step 2 – Get their emails
 Convert it to email list
Step 3 – Convert them
 Convert the list directly to
sales via short funnel or
long funnel

65
Content marketing is not easy and requires some things to be
successful
Your target group has to actively
look for info how to improve
Your target group should be present
in one of the social media
Your target group should be
identifiable by search terms or some
criteria
You have to create high value
content and unique
Content marketing takes time
Content marketing not always leads
to direct conversion

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There are plenty of tools that you can use for content
marketing
Creation of content Traffic generationMarket research

67
Here is an example of content marketing used for one of our
brands
Post on the blog
Distribution
Recycling of content
Request for
proposal
Sales

69
For more stubborn you have to go for events marketing
Step 1 – Create opportunity
 Organize or join events
 Create content that will
establish you as an expert
Step 2 – Take advantage of
opportunity
 Network during the events
 Set fixed targets in
number of business cards
that you have to acquire
Step 3 – Fast conversion
 Do the follow-up in the
next weeks: send them
your content, meet with
them, call them
 Hustle

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 The ticket (value of potential contract) has to big
enough
 You have to have a high density of potential
customer in the event
 You have to be active - listen and provide value
and only after that try to sell (if he can become to
his benefit your customer)
 Test the short and the long funnel to see what
works better

72
Similar yet more subtle to event methods is to go for
trainings
Step 1 - Attract
 Organize free open
training for your target
group
 The training has to have
unique content to
establish you as an expert
 You have to actively reach
them
Step 2 - Soft conversion
 Convert them to paid
trainings – advanced
version of the free
trainings
Step 3 - Hard conversion
 Convert them to
consulting services

74
Unavoidable is trying cold calling
Step 1- Preparation
 Find source of leads
 Prepare – choose the right
sequence and the target group
you want to reach
 This is a first hypotheses that
you will change during your
tries
 Prepare all necessary tools:
script, ready made emails and
materials, CRM
Step 2-Cold calling
 Execute and modify till you get
to predictable stable model of
sales
Step 3 - Conversion
 Convert meetings into request
for proposals (RFP)
 Convert RFP to projects

75
In cod calling you have to have a sequence of events that you
will follow
Cold visit
Mail /
Cold email
Warm call Meeting Sales
Cold
email
Cold call
Warm
email
Warm
call
Meeting Sales
Example 1
Example 2

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Cold email with
a piece of your
content and CTA
Cold email with
a piece of your
content and CTA
Cold email with
a piece of your
content and CTA
Cold email with
and invitation to
a first meeting
Meeting
Invitation to
free training
Convert to paid
training
Convert to
consulting
services
In cod calling you have to have a sequence of events that you
will follow

77
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79
As in every service you try to turn time into money

80
If you are a 1-man show you have to carefully use your time
as it limited
Number of
available
hours
%
Utilization
Fee per
hour
Additional
revenues
170 30% 200 3 000

81
There are number of ways in which you can increase
the available hours Liczba
dostępnych
godzin
lalka Stawka Godzinna
Dodatkowe
przychody
 You hire new employees, partners, co-workers
New
employees
Description When can be used
 Good solution when the growth is permanent
 There are new customers or product added
 In the case of entry-level recruitment there has to be
some career path for
 The employees should be less expensive than you or bring
new customers
 You have to have training system
 You subcontract part of the work to other
freelancers or a company
Subcontractors
 Good choice when the jump in projects is just temporary
 Good choice when you do not have the skills and
knowledge and you do not want to specialize in it
 You divide the work to be done into parts.
 The easier part, more repetitive you give to
virtual assistants
Virtual
Assistants
 Very good when the assistant is much cheaper than you
 Good choice when the assistant can create things that you
can sell
 Good choice both for temporary as well permanent
growth

82
Overall Labour Efficiency how much work there is in the work
?
Workday
Time that you can devote
Time left for real workLack of work
100%
54%
OLE =
100 %
54 %
x
x
98%
Work
98%
37%
No work due to
organizational
issues
Movement
70%
Work well done
70 %
Liczba
dostępnych
godzin
Dodatkowe
przychody

83
The biggest return you will get from improving your utility
Liczba
dostępnych
godzin
Dodatkowe
przychody
 Automate whatever you can so you have more
time to sell
Automation
Description Examples
 Emailing /Newsletters – Mail Chimp / GetResponse /
FreshMail
 Automation of small tasks i.e. twitting, putting some data
into table etc – Zapier, IFTTT
 Social Media – Buffer / Hubspot
 Calculators on your webpages
 Marketing Automation - Mail Chimp / GetResponse /
FreshMail / SalesManago / InfusionSoft / Hubspot
 Resousres on your webpage / YouTubie / Slidesharze /
Dropboxie
Improve the
efficiency of
team work
and the
cooperation
with
customers
 Improve the efficiency of teamwork and also the
way in which you communicate and exchange
info with customers
 Getting Things Done
 CRM – Google Sheet / Insightly / Close.io
 Task management tools: Trello / Nozbe / Leankit / Asana
/ Smartsheet
 Avoid email communication– Google Sheet / Slack /
asana
 Working on virtual space– Google Drive / Dropbox / 1-
Drive

84
The biggest return you will get from improving utility
Liczba
dostępnych
godzin
Dodatkowe
przychody
 You have to minimize the time you spend
travelling
Fewer
movements
and travels
and better
organization
Description Example
 Remote calls and conferences– Hangout s/ Skype
 Webinars
 Working on virtual space– Google Drive /
Dropbox / 1-Drive
 Round trips across the country to visit customers
Outsourcing /
specialization
 Find somebody to whom you can
outsource the repetitive part of you work
especially if he is better at it
 Interns
 Assistants
 Virtual Assistance
 Subcontractors
Standards,
templates and
modules
 Create you work on the basis of modules,
template and standards.
 In this way you will be able to reuse them
 Specialize in one product
 Templates and standards i.e. Excel analysis, sales
presentation, proposal etc.
 Turn non-standard presentation into modules in
which 80% are standard modules

85
Think also how to increase your price
Liczba
dostępnych
godzin
Dodatkowe
przychody
 You change the pricing depending on your
situation, availability resources and
demand
Dynamic
Pricing
Description When to use
 Use it when there is a big seasonality in demand
 Use it to sell in advance of time – similar to first
minutes
 Useful when you want to hide difference in the
price of similar service among customers – then
you have a price list and a bunch of different
discounts that blur the vision
 You can start earning depending on the
performance / success
 You can have installments
 You can have a complicated system of
different fees for different things
Change the
price formula
 Useful when you do not want to show the fee per
consultant that incidentally may be higher than
the Board Members’ salaries
 Introduce subscription
Switch to
subscription
model
 When you want to increase the demand for your
service
 When you have to compete with the in-house
departments
 When there are a lot of small task that you do not
want to negotiate separately

86
Last but not least create additional products
Liczba
dostępnych
godzin
Dodatkowe
przychody
Books / e-books /
reports
On-line courses Off-line courses
Webinar PodcastFilms on youtube Audiobook
Affiliation
E-commerce Physical products –
i.e. games
Sponsoring

87
It is worth to have 1 main KPI that will let you say whether you
are heading in the right direction
Total time devote
to it
Total net income
from all sources
200 h
50 000 USD
250 USD / h

88
Tools you need in a consulting
company

90
List of the most important tools for consultant
Analyze Present Sales & Marketing
Knowledge
Management
Market research Team management

92
Why it makes sense to standardize?
Easy to go through what
you have done so far
You can reuse your
products
Less versions to manage
Brain works faster with
standards
You can find faster what
you need

93
How to decide whether to standardize
Used by manyOften used
Last for longer time
Standardize

94
Below you will find examples of things standardized in
consulting and a typical company
Folder structure
Consulting
Naming of files
Proposals to customers
Typical company
Agreements
Deliverables
Analyses
Main processes
Internal documents
External documents
Main process
Dress code
Language of
communication

95
There are some rules for standardizing that you should follow
Use few standards
Internal standards
higher than external
Round up to closes
standard
Communicate standards
Teach standards

97
Templates can save you a lot of time. They are area almost
ready made pieces of work that need some changes to be
used. It is great for repetitive work

98
How to decide whether to make templates
Often UsedCan be reused
Time-consuming
Template

99
Define what you should create templates for. In consulting we use
a lot of templates to make the repetitive work less time consuming
Sales presentation
Consulting
Emails
Data request
Project Time sheets
Proposal
Agreement
Folder structure
Deliverable
presentation
Dimensions
 For every product, branch
 All standard emails: about meetings, data request, workshop, sales emails,
thank you email
 For every product (project type) and branch – Word
 For every product (project type) – Word
 For every product (project type) – Word
 For every product (project type) and branch in Excel
 Library of standard slides with typical analyses to choose from
 For every product (project type) and branch – Excel

101
Modules is something that helps you go beyond templates
and used them in a situation that seem not easy to be
standardized

102
Creating modules enables you to turn even things that
Sales
presentation
About the company (history, experience, offices)
Problem description
Proposed solution
Pricing
Team
Contact Details
Rather standard
Unique

104
What rules should be used for Power Point Presentations
Use the template
1 slide = 1 message
Agenda
Executive summary
Excel analysis for every
slide
Sources
Dates
Backup
Next version rule
Show money

105
The kids market will be slowly growing as a result of GDP
growth
3 247 3 480 3 473 3 503 3 537 3 583 3 626 3 689 3 750 3 806 3 857 3 911 3 965 4 011 4 055 4 104 4 144
2 804
2 862 2 855 2 880 2 908 2 946 2 981 3 033 3 084 3 130 3 171 3 216 3 260 3 298 3 334 3 374 3 407
1 328
1 392 1 389 1 401 1 415 1 433 1 450 1 476 1 500 1 523 1 543 1 565 1 586 1 605 1 622 1 641 1 658
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
8 058 8 198 8 334 8 459 8 570 8 692 8 811 8 914 9 012 9 119 9 2097 9637 8597 7857 7177 7347 380Total
Source: Euromonitor
Toys
Hardware
Fashion
Market size
In milions of EUR

106
Market size
In millions of EUR
3 247 3 480 3 473 3 503 3 537 3 583 3 626 3 689 3 750 3 806 3 857 3 911 3 965 4 011 4 055 4 104 4 144
2 804
2 862 2 855 2 880 2 908 2 946 2 981 3 033 3 084 3 130 3 171 3 216 3 260 3 298 3 334 3 374 3 407
1 328
1 392 1 389 1 401 1 415 1 433 1 450 1 476 1 500 1 523 1 543 1 565 1 586 1 605 1 622 1 641 1 658
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
8 058 8 198 8 334 8 459 8 570 8 692 8 811 8 914 9 012 9 119 9 2097 9637 8597 7857 7177 7347 380
Total
Source: Euromonitor
Toys
Hardware
Fashion
 The kids
market will
develop in will
be slowly
growing as a
result of GDP
growth

107
Market size
In millions of EUR
3 247 3 480 3 473 3 503 3 537 3 583 3 626 3 689 3 750 3 806 3 857 3 911 3 965 4 011 4 055 4 104 4 144
2 804
2 862 2 855 2 880 2 908 2 946 2 981 3 033 3 084 3 130 3 171 3 216 3 260 3 298 3 334 3 374 3 407
1 328
1 392 1 389 1 401 1 415 1 433 1 450 1 476 1 500 1 523 1 543 1 565 1 586 1 605 1 622 1 641 1 658
2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
8 058 8 198 8 334 8 459 8 570 8 692 8 811 8 914 9 012 9 119 9 2097 9637 8597 7857 7177 7347 380
Total
Source: Euromonitor
Toys
Hardware
Fashion
 The kids
market will
develop in will
be slowly
growing as a
result of GDP
growth
The kids market will develop in will be slowly growing as a result of GDP
growth

109
What rules should be used when building analysis in Excel
Usage of colors
Consistency between
sheets
Pyramid principle
1-source rule
Repetition of variables
Shortcuts
No mouse
Description
Data source
Master sheet

110
The most useful functions
Basic functions
Financial /
Mathematical
Others
 SUMIF / SUMIFS
 COUNTIF / COUNTIFS
 HLOOKUP
 VLOOKUP
 MATCH
 SUMPRODUCT
 IF
 AND / OR
 IFERROR
 AVERAGEIF
 LEFT / RIGHT / MID
 FIND
 CONCATENATE
 YEAR / MONTH / DAY
 ROUND / ROUNDUP /
ROUNDDOWN
 TODAY
 VALUE
 WEEKDAY
 RAND / RANDBETWEEN
 MOD
 NPV
 IRR
 ABS
 MAX / MIN
 CORREL
 Pivot
 Slicer
 Relative addresses
 Formats
 Hyperlink
 Remove Duplicates
 Filters
 Sorting
 Data Validation
 Trace Dependents / Precedent
 Analysis Tool Pack

111
Create universal
structure of folders

112
In most cases in consulting you will be doing a lot of different
project and you may loose a track of what you have done
Supply chain
General audit
Cost cutting
Sales Force Management
Marketing improvement
Cost cutting
Supply chain
Supply chain
Marketing improvement
General audit
Supply chain
 After a few project you will be
lost – you will not remember
what was done on what project
 Consulting and many services
are bout managing knowledge
 If you organize the knowledge
properly you can reuse it on
other projects
 Therefore create universal
structure of folders

113
Below an example of structure used for consulting project
Customer
folder
Project A
folder
Admin
Legal
PBC
Area A
Area B
Deliverables

114
practice
business?
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116
How you can price
consulting projects

117
The most useful pricing models are….
Fixed fee
 Difficult to define scope
 Non-standard project
 Scope evolvingTimes & Materials
 Simple projects
 Projects with big buffers
 Projects where you want to hide the fees
Success / performance
fee
 When performance can be measured by external KPIs
 To supplement previous methods
Limits
 To limit certain spending's esp. in the case of time and
materials limits (floors an caps are used)
Per usage
 This is used in many technical industries where you
cannot control the immediate result of the consulting
so link it with the usage / availability of certain
resource
DescriptionExample
 $ 100 K
Markups
 Markups can be a part of fixed fee structure and times
and materials
 Markup is put on purchases done by consulting
company for the project
 $ 200/h
 Traveling costs
 Food costs
 % of Target achieved
 $ 100 K for achieving
certain goal
 $ 200/h but no more
than $ 100 K
 $ 10/flight hour
 $ 20 K/plane
 15% on costs incurred

119
In dynamic pricing you identify the low seasons and try to sell them at
lower price or at higher price
25%
50%
75%
100%
88%
63%
13%
43%
88%
83%
63%
50%
1 2 3 4 5 6 7 8 9 10 11 12
Low season

120
There are 2 conflicted approached to treat low seasons
Emergency approach
 You keep the people during low seasons
waiting for desperate customers that needs
the project now
 Since you have the resources you can help him
yet the price goes up significantly
 Such a structure can be a part of your regular
contract – at certain time during the year,
month, week you charge the client with higher
price or above certain number of man-hours;
for shorter reaction time
The logic behind
Price in low season with
respect to high season
 150%-200%
Fire sale approach
 In this approach you sale with discount
because the resources will be lost if not used
 50-80%

121
Managing consulting company

122
Organizational structure and
responsibilities

123
Partner
Director
Project
Manager
BA A
Project
Manager
A BA BA
Director
Project
Manager
BA BA
Project
Manager
A BA BA
Consulting companies operate using pretty flat structure…..
Market Research Department
Visual Department
Knowledge Base Department

124
Partner
Director
Project
Manager
Project
Manager
Director
Project
Manager
Project
Manager
Some of them even the Business Analyst and Associate keep
in a pool without fixed assignment to specific director or PM
Market Research Department
Visual Department
Knowledge Base Department
Business Analyst and Associate Pool

125
Partner
Executive
Director
Director
Project
Manager
BA Senior BA
Assistant BA
Project
Manager
BA BA BA
Director
Project
Manager
BA BA
Project
Manager
BA BA BA
Obviously bigger company tend to overcomplicate the
structure

126
What is the role of business analyst?
Business
Analyst
Associate
Senior
Associate (PM)
Director Partner
Consulting companies
McKinsey
Business
Analyst
Senior
Business
Analyst
Associate
Senior
Associate (PM)
Engagement
Manager
Associate
Principal
PrincipalDirector

127
Typical structure of a project

128
Below you will find some example of project duration for
projects done in management consulting
Business
Analyst
Associate
Senior
Associate (PM)
Director Partner
 Operational
Audit
Type of
project
Duration in
months
 3-5 1-3  1-2  1  0.2
 Performance
improvement
– 1 area
 2-3 1-3  1  1
 Strategy
project
 3-5 3-6  1  1  0.2
 Turn around  5-10 9-24  2-3  1  0.4  0.2

130
Rotation is one of the nightmares of a consulting company. It will
differ on every position
Business
Analyst
Associate
Senior
Associate (PM)
Director Partner
 How long you
stay in years?
Category
 2-3  2-4  3-6  3-6
 % of people
that leave at
certain stage
 ?
 10-20%  20-30%  30-60%  10-30%  20%

133
At some point you will want to cross the bridge from your small
kingdom and rule the world

135
In the beginning you will be competing for the best
candidates from the best universities
Universities
Established consulting
brands You

136
Most management consulting workers are recruited from
business schools or exact science departments
Business Schools and
Department of
Economics
% of all candidates
 70%
% of all workers
 50%
Exact science (math,
physics, computer
science
 15%  30%
Medicine  5%  10%
Others  10%  10%

137
You can use number of methods to recruit
Comments
% of candidates
recruited
Direct recruitment to
specific position
 You have to build the whole recruitment process
 Usually it consists of logical – analytical test (GMAT
level) + interviews with your employees – 3-9
 Usually you recruit for entry-level positions
 50-70%
Internships
 They have to go through at least the part of the normal
recruitment – tests and 1-2 interviews
 Helps you test in real life the candidates
 You have to give them real work and not making coffee
 10-30%
Closer cooperation with
students and student
organizations
 You can either recruit directly to specific position or to
internship
 It can be an event, ambassador program, cases solved
with students
 10-30%
Closer cooperation with
the universities
 You can either recruit directly to specific position or to
internship
 It can be event, lecture, joint conference, projects done
together.
 10-30%

138
What improves your odds of getting good candidates for
entry level position?
 Let them do real work
 Train them better and faster than other
 Make sure that after working for you they got great jobs
 Stay in touch with your alumni
 Take advantage of stronger brands of your customers
 Put them to work for your customers
 Work hand-in-hand with student organization to actively
search for the best candidates
 Go to universities with lower rankings

140
To create proper training you have to take care of number of
issues
Targeted end-profile of a
employee on every level
Time
 Option 1: 1-2 months a year
 Option 2: 1 day a week
Forms of training
 Lectures
 Practical exercises esp. oriented at mastering certain consulting skills: Excel,
communicating with slides etc.
 Workshops devote to certain area, skill, industry, trend
 Case studies
 Lesson learnt
Resources
 Money
 Coaches / Mentors
Sales Marketing Operations Programming
 Current level
 Target level

141
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Practical guide for startups and entrepreneurs
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