The Strategy Skills Podcast: Strategy | Leadership | Critical Thinking | Problem-Solving

356: Former Bain & Company Director Michael Farmer — Differences Between McKinsey, Bain and BCG, Strategy Consulting, Helping Ad Agencies and Their Clients Navigate the Changes in the Media Landscape, Transformation of a Creative Ad Agency (Huge)

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Jun 19, 2023
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ANECDOTE

Unplanned Career Path

  • Michael Farmer's career path was unplanned, starting with a Navy scholarship and an English major.
  • He transitioned to consulting after Harvard Business School, working at BCG, Bain, and eventually founding his own firm specializing in ad agencies.
INSIGHT

Niche Consulting

  • Consulting became a brand-name business, demanding global reach and resources.
  • Boutique firms, like Farmer's, found niches by specializing in areas overlooked by larger firms.
ADVICE

Consulting Firm Cultures

  • Each major consulting firm (McKinsey, BCG, Bain) has a distinct culture and approach.
  • Consider these differences when choosing where to work or how to model your own firm.
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