The McKinsey Way Using the Techniques of the World’s Top Strategic Consultants to help You and Your Business by Ethan M. Rasiel was a book given to me by a friend a long time ago. The book has become my trusted manual that offers timeless and invaluable resource. The McKinsey Way does not need to be read in order. It allows readers to explore specific topics based on their needs and interests from problem solving and brainstorming to team building, research techniques, client management, data gathering, sustainable change implementation, and general business management.

The author, Ethan M. Rasiel, a former McKinsey consultant from 1989 to 1992, may have spent a relatively short time at the Firm. But his experiences during that period sounded intense and valuable. Research tips offered in the book are tailored towards businesses. One of the techniques from McKinsey that particularly resonates with me is the MECE (Mutually Exclusive, Collectively Exhaustive) framework, which is highly effective for listing and organizing business issues. I think it is crucial to acknowledge that every business problem is unique, and there is no one-size-fits-all solution. Readers must approach each challenge with their best judgement and adapt McKinsey’s techniques to suit the specific context.

My favorite chapter of the book is about the 80/20 rule, which I consider one of the great truths of management consulting and business. The 80/20 rule is particularly valuable when facing complex questions without obvious answers. The 80/20 rule helps us get to the key drivers and the core of the problem. “Assembling a team” is a chapter readers should not skip. Team selection at McKinsey has two theories. The first theory states that intellectual horsepower is everything. The second theory states what really matters is specific experience and skills. The “Surviving at McKinsey” chapter offers numerous recommendations, but it all boils down to having a mentor with a proper frame of mind – an invaluable source of guidance and support.

The “Life after McKinsey” chapter encapsulates the core concept and theme of The McKinsey Way. A former McKinsey consultant, now a senior manager at Freddie Mac, says: The idea that any problem, no matter how daunting, can be broken into its constituents and solved. The other thing is that there is nothing new under the sun. Whatever you’re doing, someone has done it before – find that person.

From The McKinsey Way, I think readers can explore and decide for themselves whether not reinventing the wheel is indeed the key to discovering effective solutions.  

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