How to solve tough problems? How do consulting firms work? How does hypothesis-based problem solving work? What methodology do consulting firms use on their projects? What is the consulting approach to problem solving? These are the questions that I answer in this video. I talk about hypothesis-based consulting, this is a consulting 101 skill that every consultant should master for a successful management consulting career. Solving problems is crucial for every business professional, becoming a good problem solver is key. Whenever you build issue trees or work with the MECE principle, it is often embedded into a hypothesis-based problem solving approach. The skill of hypothesis-based problem solving is crucial to solve business problems. This video is a consulting day in a life as you will apply this skill every day in consulting. Learn what it means to work in consulting, in a MBB consulting firm such as McKinsey, BCG or Bain. When you create management consulting presentations, this principle is relevant as well. Chapters 00:00 Introduction 01:16 Intuition for hypothesis-based problem solving 04:21 Practical example for hypothesis-based thinking 07:03 Hypothesis-based problem solving explained 09:57 Wrap-up MY ONLINE COURSES* Learn to make PowerPoint presentations like Top Management Consultants: "CEO-level Presentation Skills - Slide Writing for Consulting" https://link.firmlearning.com/slides Everything you need to know about Blockchain and Cryptocurrency: "The Complete Course on Blockchain and Bitcoin" https://link.firmlearning.com/blockchain CHANNEL MEMBERSHIP Become a member of Firm Learning to support my work and get access to perks: https://link.firmlearning.com/join CV AND COVER LETTER TEMPLATE* Get a CV and cover letter template based on my own documents. With earlier versions of this CV and cover letter, I successfully applied to McKinsey as consultant: https://link.firmlearning.com/learning NEWSLETTER Sign-up to the Firm Learning e-mail newsletter to continue learning about Business and Management: https://link.firmlearning.com/e-mailRECOMMENDATIONS* Books to read: https://link.firmlearning.com/books Travel like a consultant: https://link.firmlearning.com/travel GMAT study material: https://link.firmlearning.com/gmatstudy My video equipment: https://link.firmlearning.com/myequipment Learn to code (with 50 USD discount): https://link.firmlearning.com/udacity START INVESTING WITH ETFs* Trade Republic (for Germans): https://link.firmlearning.com/traderepublic WeBull (for U.S. citizens): https://link.firmlearning.com/webull You receive a free stock valued up to 1,600 USD when joining WeBull via this link. AUDIOBOOKS* This is a link to the audiobook service Audible that I use every day. It helps me "read" 50+ books every year. The link gives you a free test month: https://link.firmlearning.com/audible SOCIAL MEDIA Instagram: https://link.firmlearning.com/instagram Facebook: https://link.firmlearning.com/facebook LinkedIn: https://link.firmlearning.com/linkedin (on LinkedIn, please "Follow", do not "Connect" if you do not know me) * Links are Affiliate links. This means I receive a revenue share whenever a purchase is made via the link. The price for you stays the same. Please always do your own research when signing up with other services. I cannot be held liable for any misrepresentations or damages, except for gross negligence. Thank you for supporting my work at Firm Learning! All views expressed on this channel are private opinions of this channel's creator Heinrich. This is NOT an official channel of any consulting firm.