Chapter
Advice Received from Phil Hume
44:28 - 54:48 (10:19)
Richard shares how Phil Hume advised him that he was running out of road and needed to improve.
Clips
A former McKinsey employee discusses the firm's "up or out" policy, where if an employee is not promoted from a consultant to a manager within three or four years, they are encouraged to leave.
44:28 - 46:38 (02:09)
Summary
A former McKinsey employee discusses the firm's "up or out" policy, where if an employee is not promoted from a consultant to a manager within three or four years, they are encouraged to leave. There was a belief that those who left were not as bright as those who stayed, but the firm had "goats" who were good enough to be clients and "sheep" who were good enough for McKinsey.
ChapterAdvice Received from Phil Hume
Episode#466: Richard Koch on Mastering the 80/20 Principle, Achieving Unreasonable Success, and The Art of Gambling
PodcastThe Tim Ferriss Show
Richard Branson received positive feedback from Roy Barbie for his client communication skills, but Phil Hume helped him realize that he needed to learn more analysis.
46:38 - 48:24 (01:46)
Summary
Richard Branson received positive feedback from Roy Barbie for his client communication skills, but Phil Hume helped him realize that he needed to learn more analysis. Branson recognized the strengths of his colleagues, such as Adrian who became a vice president.
ChapterAdvice Received from Phil Hume
Episode#466: Richard Koch on Mastering the 80/20 Principle, Achieving Unreasonable Success, and The Art of Gambling
PodcastThe Tim Ferriss Show
The culture within each of the top consulting firms is vastly different, with McKinsey being more conservative, while BCG has a more entrepreneurial feel.
48:24 - 52:57 (04:32)
Summary
The culture within each of the top consulting firms is vastly different, with McKinsey being more conservative, while BCG has a more entrepreneurial feel. Meanwhile, Bain & Company falls somewhere in between the two.
ChapterAdvice Received from Phil Hume
Episode#466: Richard Koch on Mastering the 80/20 Principle, Achieving Unreasonable Success, and The Art of Gambling
PodcastThe Tim Ferriss Show
A journalist recalls an interview with Bill Bain, during which he needed to clarify a question but was impressed by Bain's graciousness and background in postgraduate research.
52:57 - 54:48 (01:51)
Summary
A journalist recalls an interview with Bill Bain, during which he needed to clarify a question but was impressed by Bain's graciousness and background in postgraduate research.