Case Error Log

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o Organization acquisition history
o How to set up implementation and risks groups
o Other considerations
Implementation
Capacity (if youre introducing a new product may need to
New investment?
(if strategic/PE acquisition) Organizational changes
Risks
Internal-External
(if market entry) Regulatory (or changes in regulations if Pharma)
(if agriculture) Weather
o How do you know when to use COGS + SG&A?
I think if youre looking at EBITDA, you just looked at fixed + COGS

Convert waterfall into hours and say X wasted hours 100

Discount rate varies by risk level of investment

If 5 year horizon, calculate profits for each year,

Waterfall graphs

Other General
At end of framework say how does that sound?, not, does that look ok to you.
Look at Wharton Industry Profiles
o Start on pg 39 of 09 casebook
You need to do a bunch of break-even practice
o Just look through the slides to find examples and then do then math
Never say a number unless you are 100% sure. DO NOT THINK ALOUD FOR NUMBERS
o Says OK, I think I got it but let me double check just to make sure
Understand benchmarking
Learn to make profit tables
Spend a day and just go through all the math questions you can
NEED to get faster at writing frameworks!!!

London Casebook Industrial Competition with China

Captive use how much theyre using

Ask for clarification of terms

Argentina Wine

Make sure to customize the framework live the case

 Clearly articulate what everything is on your framework
o Be more clear why youre starting with something, e.g. US and Brazil
o Tagline for EVERYTHING
o Im going to use the population of US and Brazil to reach the population of Argentina
Dont ramble!
o Start with Argentina population FIRST then explain how you got to it
Important when market sizing to think about the most important drivers: Age/drinking
preferences
Be very structured about the math; dont be afraid to take time up front to structure
Market size always by year (dont be afraid to round)
Prioritize biggest sources of costs
o Land, grapes, facilities, irrigation
Labor costs are typically variable unless unionized
MEMORIZE BREAKEVEN EQUATION: (Fixed costs)/Profit Margin
Supermarket Deli Turnaround (Case #1 BCG Practice Cases)

Business Judgement This is what they look for in MBA-level candidates

o One key to demonstrating this business judgment is putting things in the context of
percentages
X increased by 10%, whereas Y increased closer to 20%
PAY ATTENTION to the interviewer they might be TELLING YOU WHERE TO LOOK
o If youre given specific information drill down into that stream first.
Go slower
Dont be afraid to ask in the beginning are we only helping them with this one part of their
company? I didnt ask so I was confused if we were only looking at the deli part of the client
or the produce and the deli part.
Be more organized
o Especially when you are calculating
When you are exposed to exhibits
o Put in context of previous information (e.g. the market)
o Also put in context of percentages
o Helps you figure out what data to focus on
o Also stall while looking at exhibits so that you can do the above
Dont get caught up in framework
o Live the case add those extra words so that it seems like youre not just regurgitating
a framework
When you have multiple streams of revenue:
o Break each down into their (1) main driver, and (2) profitability; then compare.
Revise your hypothetical when you get detailed information about the market.

Gas Grill Market Sizing

Dont be too tense But also dont move around too much
Always clarify primary customer!!
o Could be different markets
E.g. ppl vs restaurants
When asked about feasibility of $x in sales compare it to what it amounts to in market
share
Distribution channels buzzword, keep in mind
Tie back to specific words Live the case
Prospective vs current customers
o White space analysis Evaluate untapped market
If you think out loud, wrap up at end by saying
o essentially, I think there are 3 main things we can do and we should prioritize A for XYZ
reasons

Luxury Fitness Center Market Sizing

For renewables like monthly memberships, take into consideration the churn rate How
many you lose and how many you gain each month
Set BECHNMARKS for estimations e.g. say I expect only people with incomes of $X to be able
to afford this, then estimate how many people with those incomes would do that.
CASE WITH MI Maximize Profitability for Parking Lots

IF YOU NEED HELP, ASK FOR IT! Its better than fumbling around!
o KEY TO ASKING FOR HELP:
What are typically the revenue streams for this type of business
How do they make $
Main Segments
Am I missing any key pieces? (After having already identified some drivers)
Pause, conclude, then ask for help
General:
o Dont move around too much Moving less = more confident
o ALWAYS state a conclusion after each data point. So if you are asked a question, e.g.
what is our revenue under this new system, dont JUST ANSWER and say our revenue is
X, say our revenue would be X, which I think is interesting because of Y reasons.
Additional considerations we should account for are Y and Z always go one step
further than what they ask of you
o Keep your papers separated. Break down your notes/calculations like this:
o Paper one

(Moderately thick) OVERARCHING FRAMEWORK

client Draw your main FW here and then just leave it without
-
- touching it except to X out certain branches
Then write numbers for
things like R and Quantity
here as well
This is basically all scratch
o Paper two
SET UP CLEAN MATH EQUATIONS (Or delve deeper in framework) HERE for Scratch Area for
the questions you are asked. Math Calculation
e.g.
e.g. figure out
R=$x#
quantity here, then
plug back in

Other things to keep in mind:

o If you are dealing with a public entity always consider:
Tax implications
Implications for the local economy
For Profitability growth drivers
o # - CHECK IF YOU ARE AT CAPACITY
You may not be able to do much to move beyond capacity if its fixed, but you
still have to make sure youre hitting capacity in the first place.
Here it could have helped to think of farmers markets, etc if you werent at
capacity
 For conclusion Instead of saying To answer the questions of X, say:
o Hello Mr. CEO, you asked us to look into/solve problem X, well my team has a
preliminary answer for you.

AungMaw Feedback

Structure when brainstorming

o When asked, what other X do you think we should think of, always structure out some
distinct and MECE categories and then start rattling off your ideas
o This is what theyre testing you for
o In fact, structure from the beginning Things like FC should be structured into distinct
groups from the get go
Internal-External tends to work most of the time, but also make sure it actually
fits the case
Make it like a power point!
o Move right left
o Make a results + so what box at the bottom of your power point
This is how Bain does it
Check assumptions with Sniff test
o Does it make sense for us to use a plane 365 days a year? What about maintenance, bad
weather, etc?
Make a table for your calculation results
o Just like a slide
Live the case
o Dont just say # of customers, say # of travelers
Compare apples to apples
o If your revenue is quarterly, then figure out BE in quarters.
o Do not put cost of investment into fixed costs
Youre looking at annualized profits, so but investment cost isnt annualized
o For investment