Victor Cheng kaz-news.info Case Interview Marathon Workshop. Victor Cheng's. Case Interview Core Frameworks v By Victor Cheng. College (i.e. Look Over My Shoulder by Victor Cheng), we do so because almost % of . want to keep in touch, and attach a PDF of your resume. Follow up. LOMS-Case 1-Moving-Ex 1-Transcript_电子/电路_工程科技_专业资料 Copyright Victor Cheng All Rights Reserved Page 1 of 20 Case 1.
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Victor Cheng Loms. Download and enjoy the Victor Cheng Loms Book. The First step is You must registered at Our library to download. Back tehn I used Victor Chengs LOMS and his book case interview Viktor Cheng material is good, however, it is definitely not enough to pass. 1) Victor Cheng's Look Over My Shoulder Program (LOMS): These are recording of candidates solving cases given by Mr. Cheng. He gives useful feedback to.
I interviewed over a dozen candidates, over a 2 day period. Did you catch the mistake? But this theme me very much interests. What does this thing cost? Most candidates severely underestimate the importance of a victor cheng loms pdf well-written consulting cover letter.
See you on the other side! I recognize there are some folks here who are students and I know what it was like to be a student. But only you can decide what the value of this offer would be for you.
Resist the temptation to procrastinate and delay for the very simple reason that when you get interviews in consulting they come on extremely short notice. The total program is close to 20 hours of audio recordings and transcripts. It takes some time for those habits to gel and mature within your brain. What happens is as an interviewer you learn to recognize the set of circumstances that lead people to make mistakes early in a case that ultimately causes the big mistake that causes them to fail the interview.
So what I did is after I made these recordings I went back and analyzed all the hours of raw footage. JamTower Loma Studio is the best software for learning perfect pitch, relative pitch, and sheet music. It is incredibly useful in accelerating the learning process.
Victor cheng loms pdf How did they know to do it? What part did they miss?
To get past the first round interview lomw into the 2 nd or final interview and ultimately get an offer, there is not that much difference. I relistened to all the interview recordings and provided what I call a voice over commentary.
It's a great way to really internalize a couple of basic points. You see the applicants and candidates who know what to do in a case interview they get extremely close to getting an offer. Similarly it offers up a range of plugins, to customize your client to your liking.
From my experience, the senior guys tend to look for creativity rather than structure. Are they more fixed cost or variable cost?
So is the company more of a fixed cost business or more of a variable cost business? This is useful because sometimes you want to start with just having a general idea, some set of numbers, rather than the specifics. So in this particular case the candidate is trying to get a general idea of what kind of business this is.
And that is a useful question to ask. And the purpose of asking generally is just to get a feel and determine if a more precise number is necessary. You mentioned before that the company has cash; the financial situation is good so it can invest some more into this business. Yes, the company has lots of cash but is not sure what to do with it. Finally about the company in terms of its intangibles, does it have any brand recognition in the residential market?
It has no brand recognition whatsoever in the residential market. Yeah, I think that could be a concern if they were to move into this new market, they have to start from scratch. And they would develop these capabilities internally. Okay, so I would like to now move on to the competition. Sure, the competitors primarily consist of truck rental companies. They all have very similar businesses, they typically have very large parking lots filled with trucks and they rent them out typically by the day, with some sort of mileage fee.
Interviewer: Candidate: Okay. And this market, has it been growing? And that is technically a question that falls within the customer portion of the business situation framework.
So I think in this case this person realized that they did not ask if the market was growing under the customer section, and in the midst of talking about competitors realized this mistake and went back and tried to get that information.
I wanted to know if this market is actually growing or not. Do we have any information about that before I continue with competitors? Which is again okay, as long as you make sure that others are following you, and understanding what you are doing. Interviewer: Candidate: Interviewer: Candidate: Interviewer: Candidate: Interviewer: Candidate: The market overall or that particular part of the market?
They have grown from 70 percent to 80 percent, is this because the full service segment is shrinking? So overall then in actual dollar amount, there is not that big growth in this do it yourself segment either. Is that fair to say? Actually the industry overall has not changed, but the do it yourself segment has been growing. Okay, and the absolute amount ideally is growing as well, right?
Okay, and what would be the barriers to entry into this segment? So you noticed that in the previous comments I mentioned that the industry overall has not changed much but the do it yourself segment has been growing.
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Whenever you see a trend or a change you want to quantify the magnitude or size of that change. Interviewer: Candidate: For whom? Obviously the to do it yourself segment, you mentioned there are four competitors, each has almost equal market share, and they have been investing into marketing and building their brand, their networks.
What are some of the barriers of entry into this segment? Generally capital equipment is fairly one big one. And to be effective in one particular region or local market you need a certain number of trucks with a certain amount of coverage in terms of the various parts of that particular community, that is one sizeable one.
What barriers to entry do you think that might be a factor, that you would be curious to look into more? Interviewer: Candidate: Obviously the distribution channels that the customers prefer and the brand recognition. What the clients state suggest that those would be issues of their concern as well.
So certainly brand recognition, distribution or physical locations which involves real estate as well as the capital equipment are all potential concerns. Okay, just to summarize the information I received so far, just want to check some things with you.
So, but in addition they have to invest in new trucks, they have the technology to lift the boxes, but they would need new trucks, do we have any information how much capital equipment investment this new business would require?
Yeah, sure. What they have in mind is rather than rent out trucks, they would actually rent out containers that these trucks would then lift and move. Okay, just staying with the competitors, do any of the competitors have this rent out container service?
Interviewer: Candidate: Interviewer: Now there is one company out in the west coast of the United States that has started to do this, they are only a regional player. There is no national player who is providing this particular service. This is good news for the company if they want to get into this rent out container business. But just one question, how easy is it to develop the capability for the existing competitors such as U-Haul? And this sort of technology would be a new design, and is not currently available in the public markets.
Okay, so that sounds interesting. And do we have any information about how has the west coast company that rent out containers done so far in this business? Was it able to capture customers? Candidate: Interviewer: Okay. And do we have any information about how many trucks they have currently, and how many households are they able to serve? We think that in the market that they are in of , households they are probably able to serve, perhaps in any given week 50 to perhaps households at most at any given time.
And how many trucks do they have? They have two. They have two trucks. Okay it seems from this information that with two trucks and they were able to serve a city with , households.
So far it seems, even though the competitive landscape for do it yourself segment is quite difficult to get into due to the brand recognition issues, and the existing competitors, this new top segment, which is the rent out containers — that seems quite promising.
And one existing player is just a very small player, but has been growing by percent so that, so far from a competitive perspective, it seems favorable to me. What you notice here is that the candidate did what I would consider a synthesis, which is really a preliminary or interim conclusion as to what we now know about this particular situation.
And that is a very good habit to develop. Any time you do a set of analysis that leads to some sort of discovery, it is useful to summarize what you have learned and, when appropriate, to refine your hypothesis, indicating how you will proceed with the remaining of the analysis.
So this product is rent out containers, basically the customers just need to put the stuff in the container and then we take it and move it to the location that they want us to. The substitute product of this would be, in this case, the do it yourself traditional way of doing it, they would rent a truck and then do it like that.
Or, we say a full service operation, but we are not really interested in that. What are some of the trends or are there any complimentary goods that would drive this rent container business more going forward in the future?
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Well I think one complimentary service that the client company does not have the ability to offer today is the labor portion of the move. At least consider that a little more often than some of the other types of customers. Okay I would like to just move to the company. Do you think the company could develop this capability of providing a labor service along with the rent out containers?
But, obviously we have to look at the cost structure of that as well. So, so far it seems that the company has experience in moving things and has Page 11 of 20 Interviewer: Candidate: Copyright Victor Cheng All Rights Reserved Case 1 — Moving — Ex 1 — Transcript developed the technology to move these containers, and the competition is not that strong in this new top segment of the do it yourself segment, and customers would be willing to pay for this service because it is convenient for them, especially if there are people helping them move the stuff into the containers.
Here is another example of a transition point in the case where the candidate has synthesized the latest information, and what we currently know about the case. I would however rephrase the transition a little bit. What the candidate should do ideally, and again this is being nitpicky, is indicate what specific information you would need to determine the return on investments. Interviewer: Candidate: They were able to serve about 50 households in a particular week.
In a particular week, in a week, okay. Well that particular company serves 50 households. Okay, so I would benchmark it against that company and what do you think the company can serve each week? Is it fair to assume that they would be able to serve about 50 customers per week?
You will notice here that I have asked the candidate an estimation question and this is actually not that unusual. Maybe this is good practice.
And I will also mention that you should be prepared to do estimation question in the middle of a case for precisely this reason. Candidate: In , homes, I need to estimate what percentage of people move in a given year, percentage of people move in a year. We do know that nationally, 15 percent of people move in a given year. So that would be in , households, 15 percent of that is going to be 15, households move in a year.
And do we have any information on what the company is expecting to charge for this service? Yeah, I think there is. Obviously this is assuming that this is for the general moving market, then we will talk about what percentage of that we expect to capture.
This I think was my eighth hour of case interviews that particular day, and so I did not do the math as diligently as I would if I were the interviewee, so this person got away with it. So I just wanted to make sure you were aware that this was a mistake. A very minor one, but still a mistake nonetheless. Interviewer: Candidate: Interviewer: They think that this market, over time, they think they are aiming for perhaps between 10 to 20 percent of the do it yourself segment as being a reasonable target for this particular business.
Do we have any information on the variable costs that the company expects to pay for the service? And is two trucks enough or do they need fewer or do they need more?There are hundreds of opportunities to try again! So my hypothesis is that we should enter this market — not if we should — but the hypothesis is we should.
You WILL eventually notice the mistakes and be able to anticipate my commentary. First, listen to the audio version of the program. Key elements to consider include: acquisition rationale e. Here you can download victor cheng shared files: Victor Magan,. All cases include handouts for exhibits. So I think in this case this person realized that they did not ask if the market was growing under the customer section, and in the midst of talking about competitors realized this mistake and went back and tried to get that information.
With this program, you will hear my voice over commentary nearly times. And that is technically a question that falls within the customer portion of the business situation framework.
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