Case Interview: Essential Tips and Tricks (Part 12 of 12) | caseinterview

[@killacaylo]

AWESOME, watched all 12 videos. In-depth and very helpful for students like me trying to get into the consulting world. Thanks a bunch!

[@rarehuman]

Hello Caylon, did u end up into consulting?

[@ikhlit]

Thank you Victor! It was good videos. Watched and read your books. It seems your book coming from all these videos 😊

[@mitchnjoroge8130]

Amazing content thanks Victor

[@ajaxhussain6516]

Hi Victor, I recently went through your case interview lectures. I found them really interesting and very insightful. I have one doubt in the profitability framework. Is the revenue per unit calculated according to the units sold i.e. if units sold decreases then revenue per unit is always going to increase keeping in mind that the cost is the same. OR Revenue per unit is total revenue/initial units sold and is independent of the change in the number of units? Eagerly awaiting your reply.

[@raisamistieri8032]

Ajax Hussain Hello, good night! I have been studying too and your question makes sense, but I think you can`t assume the independency in units sold. What you should do, is break down the branches of revenues and understand why units sold is decreasing, since it appear to be driver of the profitability decrease, right? Please, let me know if you have further questions, we can discuss all topics. I think that with worth doing in order to get prepared for my interview!

[@truthspeaks84]

+Ajax Hussain Just think of "revenue/unit" as another way of saying price. Whether you sell 1 cup of lemonade or 10 cups, the price would still be $2.00 per cup of lemonade. Total revenue made from selling 1 cup and 10 cups would be $2.00 and $20.00, respectively. Either way $2.00/1 unit = $20.00/10 units = $2.00 per cup of lemonade. Thus, your latter hypothesis is the correct one.

[@pharcyd00]

Thank you Victor. Have watched all your videos through more than once. Enlightening and well disseminated. Hope to put all of this to good use during my case interview on Friday.

[@suryaprakash24]

how'd it go

[@matthewt3391]

@@suryaprakash24 LOL. Four years ago so it's hard to remember. I got a new job right around that time, so probably well? Victor knows his stuff.

[@siddharthkamat139]

Thank You Sir, personally I would like to share with you and rest of them who are reading this comment that, I was totally unaware of how to do Caseinterview! But as of it was need for me I came across one of your video on Profitability Framework, which was 7/12. I just saw this whole thing and it's really helpful for one who is purely unaware of how to do Caseinterview! As you said lastly, 'Ignore Previous Knowledge and Only Use Data From The Case' I just took off all the thoughts of Caseinterview and went through all of your videos and as you said in your very first video regarding this seminar that, you presented it to 4 people and out of them 3 got placed in good consultancy firm. After watching your video I'm damn sure that anyone who would study these set of videos is going to be great consultant if those qualities which you shared with us are going to match. Thank You Sir.

[@ArcHeus08]

Hi Victor, I passed a PST-like exam for a private equity firm because of your site. I will be doing a case interview in a week. I just want to say thanks for what you're doing.

[@Gohary936]

Having spent the last few hours of my life watching this, just one thing I want to say: Thank you. Extremely helpful and very insightful.

[@eileenkhodayari]

I really enjoyed this workshop. It was like I have attended this and I’m really going to miss victor. It was fun and educating. My undergraduate studies was finance but I have found that with my skills and talent combined with a finance background based on my interests, this is the right area for me to enter the job market. Thanks to my first educator in consulting😊.

[@haofeng11]

Thank you Victor, very indepth and insightful analysis.

[@siddhant_mutha]

What a guy, Long live Victor Cheng

[@kasthurir1063]

Thankyou so much victor sir for all the 12/12 videos.

[@kritiaggarwal88]

Thank you Victor for these amazing videos. I have just started preparing for the interviews and having gone through these first has given me a good starting point.

[@reutsy]

Me too, would you like to study together?

[@yiwengong5937]

Thank you Victor for the videos, have watched all 12 of them and hopefully will practice more and be confident with case interviews!

[@ismayilhuseynov5027]

12/12. Thank You very much for these videos. Great playlist!

[@BrianK683]

Thank you so much sir. The videos are very insightful and this is just an amazing capstone. Thank you for the value add.

[@caseinterview]

My pleasure. Glad you found it helpful.

[@gravyyy791]

Hi Victor, thank you so much for sharing these making insights!! These videos are not just helpful for the consulting prep peeps but also for anyone looking to solve cases in any domain! Thank you again for helping us all out 😇

[@caseinterview]

You’re welcome!

[@chuchucheng6321]

Thank you Victor! Really helpful videos!

[@animeshsaurav9331]

Thanks Victor for all the amazing insights. Found it a helpful starting point and am excited to delve deeper into solving cases.

[@RidgeRT]

Thanks Victor! This has been very insightful.

[@shivamraja7671]

Thank you so much Victor!

[@diegopadilla758]

YES! Sales is my best skill!🤩🤩 I can vision myself as a partner 100%, obviously after earning my right to the top thorugh hard work and determination. Leaving the firm (that hires me) better than how I found it. Being part of something bigger than myself. THANKS Victor. Appreciate all your knowledge and genuine personality.

[@Suchita_Bhalotia]

Thankyou so much!!

[@nemesis1uk]

Great set of video's learned a ton! Now time to put this stuff to practice :)

[@betters8728]

Appreciate for all your videos. I learn a lot from it. Thanks

[@m.radhiyanpasopatipribadi2358]

Thank you Victor! Very insightful and useful!

[@emmadobby4862]

Hi Victor. Thank you SO much for putting these videos up. I made detailed notes on all of your videos and, having put them into practice I received offers from my top 2 firms. I couldn't have done it without you! Forever grateful

[@saasceo]

Emma - That's awesome. Congratulations!! You're quite welcome.

[@罗森-z6m]

Thank you so much for your videos ! Learnt a lot from them !

[@TheRealAg23]

Watched all 12/12, thank you lots!

[@overthinkersdd]

Thank you Victor ❤️

[@nickkang6892]

Thanks for this. It's been immensely helpful!

[@lillylove5553]

Thank you for these wonderful videos. The only confusion I have is what is the difference between using business judgment Vs imposing previous knowledge ( as you mentioned we shouldn't use) at time the distinction is not clear.

[@caseinterview]

Business judgment refers to using data provided to you within the confines of the interview. Previous knowledge means presuming something you think you know about the industry that you obtained prior to the interview is somehow true in this specific situation. You might use previous knowledge to prompt you to ask certain questions, but the analyses, conclusions and recommendations you develop should be based on the ANSWERS provided by the interviewer not from information you possessed prior to the start of the interview. In this context, I'm referring to things like industry trends, product trends, customer preferences, macro economic conditions, industry regulations. I'm not referring to things like understanding that profit = revenues - costs, which are perfectly fine to use in an interview.

[@lillylove5553]

@@caseinterview Thanks a lot.

[@lillylove5553]

@@caseinterview Thanks a lot.

[@Smaxzii]

Thanks for the videos!

[@jiafengxu7020]

I really like it since it is so informative.

[@monickellenborges3938]

Should I use the same Business Situations framework dor Supply and Demand problems?

[@caseinterview]

No. The supply and demand case is a case that doesn't occur very often. I've since decided to stop teaching it because it is complicated, confusing. For those reasons, most firms have stopped using it because it requires a prior knowledge in micro-economics that most candidates don't possess. Because of this, this kind of case doesn't end up testing one's thinking skills and mainly tests one's prior exposure to micro-economics. Separately, in a demand vs supply case you would use a supply vs demand framework. I've removed this framework from the current version of handouts for the reason stated above. It's not a good use of your time to practice it. You're much better off practice the other kinds of cases.

[@rarehuman]

@@caseinterview Hi Victor, I see whenever u have spoken of the Supply and Demand framework it has been an example from Aviation. Does it mean that aviation consultants use it quite a lot? I am asking coz got an interview with an aviation consultancy in 2 days. And although I do have extensive experience in air transport, but it has majorly been with operations and PMO. So solving cases and consultancy is fairly new to me, hence asking. Your feedback would be really really helpful. Thanks a lot

[@nehash89]

Thank you Victor! Watched all 12 videos

[@prathameshpradipdatar2003]

Best series!

[@HomeboyHotel]

Watched 12/12 - absolutely fantastic!

[@aikoenodame123]

Thank you Victor! This is super helpful!

[@omodemeta]

Thank you for this.

[@monica-nr6kq]

Thanks soooooo much!

[@smart2mill]

fantastic material!

[@javierbardo84]

thanks for this

[@harshitsaini3310]

It took me 3 days to finish this. How did you finish it in 1 standing sir?

[@caseinterview]

It was a long day :)

[@harshitsaini3310]

@@caseinterview Glad to receive a reply from you sir. Just want to tell you that you have converted my fear of case solving to adventure and curiosity and fun. Thanks again sir.

[@caseinterview]

@@harshitsaini3310 - I’m so glad to hear it. Those who like the job tend to enjoy the curiosity and intellectual adventure of both the case and the client work. Good luck!

[@harshitsaini3310]

@@caseinterview Thanks for the encouragement and wishes sir.

[@yiwengong5937]

hahahaha it took me 3 days as well

[@asingla51]

Great !! I am a Steve Jobs type material. Hmm.. that's interesting .my "" aha " moment

[@narutouzumaki3548]

Thank you sir for your videos. Learnt a lot in a very short span of time. Today I had an interview for the position of an associate at fsg in India. While I was able to move quite a bit into the case unfortunately I reached a dead end which I could not overcome. The case was about a hospital chain which was facing drop in revenues and therefore profitability post an acquisition. The chain had one hospital in Delhi which was unprofitable and had 2 hospitals in mumbai which it had acquired. The acquired hospitals were profitable. The Delhi hospitals was showing stagnation in patient volume and the returns per patient were dropping. Fixed and variable costs were showing no change . There was no change in competition or personnel. I was unable to find out why was there a drop in patients or costs across all departments of the multi speciality hospital

[@caseinterview]

If fixed and variable cost are unchanged, then the problem has to be either a decline in patient volume (as the fixed costs would be a larger % of revenues since there are fewer patients over which to absorbed the fixed cost.... if your building costs $1 million a year in rent and you only have 1 patient for the year, the gross profit from that one patient must pay for all $1 million of the building) or a declining pricing. If by saying patient volume was stagnant meant it had remained unchanged during the period in which profitability declined, then mathematically the only remain reason is changes in pricing. Revenue = # Patients x Price per Patient. Once you know if it the problem is a decline in pricing or a patient volume, then you want to segment patient volume or pricing into sub-categories of some sort. This could be by medical specialty, demographic segment, day of week segments (maybe non emergency hospital services are closed on Saturday and Sunday, and volume of patients per day of the week remained unchanged Mon - Fri, but dropped by 80% on weekends), or time of day segment. Since it is hard to know which segmentation approach makes the most sense, in an interview I would say "I'd like to segment the patient volume into its sub components. Do we have any data on that?" In real life, I would have an analyst segment the data 10 different ways to find which approach yielded an insight that wasn't obvious just looking at the total. You want to 1) FIND the drop first by segmenting and isolating then problem, then 2) figure out WHY it dropped, then figure out 3) WHAT TO DO about the drop. #1 is the hardest part, then #2, and then #3. Most candidates don't successfully figure out #1. If they do, #2 and #3 are usually more straightforward. Hope this helps. Keep learning and improving, and the results will eventually take care of themselves.

[@narutouzumaki3548]

@@caseinterview Thank you very much sir