B Y K R I S S A FA R O VA , W S J B E S T - S E L L I N G A U T H O R & C E O O F S T R A T E G Y T R A I N I N G . C O M A N D F I R M S C O N S U LT I N G .

C O M

THE OVERALL This is the overall approach used in all well-managed studies at the most elite
APPROACH: firms, detailed examples of which you can find on StrategyTraining.com and on
the Strategy Reading Room on FIRMSconsulting.com. It is also the underlying
REFER TO approach used in the studies. If you follow it diligently, you will produce a highly
T H I S PA G E customized and useful recommendation for the client, with measurable benefits.
THROUGHOUT You will manage your team more effectively, improve your reputation with your client
YO U R and produce a verifiable recommendation that can be implemented. This approach
ensures your recommendation will produce quantifiable, bankable benefits to the
A N A LY S E S client, and that is the most powerful advantage you can bring to a client, and the
most enduring reputation you can have as an advisor.

Day 1

Write out the exact From left to right,

Prioritize the options Develop hypotheses for
problem statement, build a decision-tree
on the far-right side of testing the prioritized
limiting the scope as of options to solve the
the tree. options.
much as possible. problem.

Arrange the expected Develop a graph-based

Is the expected story findings from all test to determine if
What is the expected
worth the effort? If not, tests to develop the each hypothesis is true:
finding from each test?
why do the work? preliminary expected incl. the x- and y axis-
storyboard. data needed per test.

NO
Week 1
Conduct focus If not, continue
Does the focus
interviews with the work, but
interview feedback 1st Client update: focus
employees, management, simultaneously go back
support the preliminary interview feedback.
competitors, and and determine if the
storyboard?
suppliers. problem statement
and/ or decision-tree
needs to change. If they
need to change, carry
Week 2 - 4 NO
the changes through,
Financial analyses, 2nd client update: all the way to updating
Do the results of the
benchmarks, and case estimated range of the preliminary
3 analyses support
studies to find the size of the financial benefits storyboard to
the preliminary
the financial benefits and and problems in the determine if the work is
storyboard?
issues in the finances. finances. still worth the effort.

Week 5 - 6
Find the data to 3rd client update:
Calculate the benefits
test the hypotheses List the quick wins and calculated range of
to the client of
that generated the potential options to financial benefits
implementing the
preliminary storyboard solve the problem. to the client +
recommendations.
from Day 1. recommendations.

Week 7 - 8

Prepare the 4th client update:

Finalize the upper and
Implement 2-3 quick implementation banked benefits
lower range of possible
wins. plan and begin from quick wins and
benefits.
implementation. implementation plan.

V I S I T S T R AT E G Y T R A I N I N G . C O M & F I R M S C O N S U LT I N G . C O M F O R M O R E R E S O U R C E S L I K E T H I S