"The $500,000 PowerPoint: Debunking the Myth of Strategy Consulting Brilliance"

Step 1: Diagnose the Blindingly Obvious

The first move in any consultant’s playbook is the diagnostic phase, where they spend weeks interviewing your employees, poring over your data, and producing an in-depth analysis of… what you already know.

• Consultants: “Our research shows your supply chain is inefficient, your costs are too high, and your customer retention rates are declining.”
• Client: “Yes, that’s why we hired you.”
• Consultants: “Great. That will be $250,000 for the insights phase.”

It’s like hiring a personal trainer to tell you, “You’re out of shape. Maybe try exercising?”

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Step 2: Brainstorm Blue-Sky Ideas

Once they’ve uncovered the obvious, MBB consultants move into the brainstorming phase, where they dazzle clients with “blue-sky” thinking. This is where they ask groundbreaking questions like:

• “What if you disrupted the market by pivoting to a customer-first paradigm?”
• “Have you considered doubling revenue while cutting costs by 30%?”
• “Can we leverage AI and blockchain to synergize your core competencies?”

These ideas often live in a magical land where budgets don’t matter, competitors are asleep at the wheel, and implementation is someone else’s problem.

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Step 3: Produce the World’s Most Expensive PowerPoint

Now comes the pièce de résistance: the PowerPoint deck. This is where the consultants distill all their insights and ideas into 120 slides of stunning visuals and bullet points. Each slide is meticulously crafted, using advanced techniques like:

• The 2x2 Matrix: Because every problem fits neatly into four quadrants.
• The Hockey Stick Graph: Where future growth is always exponential (but conveniently starts after their engagement ends).
• The Venn Diagram: Because overlapping circles make everything look strategic.

And don’t forget the jargon! No slide is complete without phrases like “value creation,” “ecosystem integration,” and “market cannibalization.” By the end of the presentation, you’re not sure if you’ve been enlightened or hypnotized.

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Step 4: Drop the Mic and Walk Away

Once the PowerPoint deck is delivered and the hefty invoice paid, the consultants vanish into the night, leaving you to figure out how to actually implement their recommendations.

• Consultants: “We’ve outlined a bold strategy for growth and efficiency.”
• Client: “Who’s going to implement this?”
• Consultants: “Not our department. Good luck!”

This is the genius of the consulting model: they’re never around to deal with the messy, real-world consequences of their ideas. If the strategy fails, it’s because you didn’t execute it correctly. If it succeeds, they’ll happily take the credit. It’s a win-win, for them.

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The Cult of the Consultant

What’s most remarkable is how many companies buy into the consultant mystique. CEOs speak in hushed tones about their McKinsey team, as if they’ve hired Gandalf and his fellowship to save the company.

But let’s face it: these consultants are not wizards. They’re incredibly smart, yes, but they’re also incredibly insulated from the realities of day-to-day operations. When was the last time a Bain consultant had to actually manage a production line or deal with an irate customer? Their world is one of theoretical frameworks, not practical solutions.

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The True Value of Strategy Consultants

So what are you really paying for when you hire an MBB consultant? Let’s break it down:

Prestige: Nothing impresses your board like a McKinsey logo on your slide deck.

A Scapegoat: If things go south, you can always blame the consultants.

Time to Think: CEOs are too busy to strategize, so they outsource it to someone who can.

And, of course, you’re paying for the privilege of hearing your own employees’ ideas repackaged in fancier language.

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The Alternatives: What Could You Do Instead?

Before you shell out millions for strategy consultants, consider these alternatives:

• Listen to Your Team: Chances are, your employees already know what’s wrong and how to fix it.
• Hire Actual Experts: Bring in people with hands-on experience in your industry, not just slide-making skills.
• Experiment and Iterate: Instead of spending months analyzing, try small, real-world tests to see what works.

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Final Thoughts: Are Consultants Worth It?

Let’s be fair: strategy consultants do have their place. They’re brilliant at structuring chaos, synthesizing data, and creating clarity in complex situations. But let’s not kid ourselves, they’re not magicians, and their ideas aren’t always revolutionary.

The next time you’re tempted to bring in MBB, ask yourself: Do you really need a $500,000 PowerPoint deck? Or could you just buy your team some coffee, gather in a room, and figure it out yourselves? After all, the real secret to success isn’t disruption, it’s doing the work. And that’s one thing consultants will never do for you.