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1-Page Summary of The Mckinsey Edge
The McKinsey Way
The alumni of McKinsey & Company have become CEOs of Fortune 500 companies. Their success is attributed to a framework that’s been tested and proven by the firm. The principles are applicable in five areas: building your self, growing with others, excelling at process management, going the extra mile and becoming an insightful thinker and writer.
“Get Ahead”
In everything you do, focus on what’s important. What’s important is different in every situation, but you have to figure out what it is for your industry and context. Once you know that, make sure to pursue those priorities. In order to achieve your goals, determine the most direct path toward them and align your steps with financial results by focusing on urgent tasks first.
Spend your morning working on the most challenging tasks. Then, spend the rest of the day focusing on activities that earn money. Wait to respond to emails and proofreading until later in the day when you may be less mentally capable. To stand out among other smart people who are also hardworking, pay attention to small signals from others.
Busy people don’t have time to sift through information and then learn how to present it. They want someone who can give them the gist of what they need in 30 seconds or less. This skill includes finding data, giving better presentations, intuiting what people want, and thinking like a CEO.
When you start a new project, hit the ground running. The impression you make while ramping up will remain with your team members and managers. In the first week, meet with project leaders, resolve problems, get to know your team members and begin to delegate tasks. Have a clear vision of the end result and determine how to communicate it effectively so that people understand what needs to be done. Knowing where you are going enables you to work aggressively through setbacks because everyone knows what they need to do in order for things to succeed. Thomas Edison knew what an incandescent lightbulb would look like long before he produced one because of his knowledge of its components.
“Hang Tight”
Stress is a part of any job. Your ability to smile through the pressure and keep your head up high will help you get through the tough times. Smiling helps you feel good, reduces stress and makes people like you more. When things seem impossible, remind yourself that there’s no such thing as painless growth; it’s all about overcoming obstacles and reaching your goals one step at a time. Don’t dwell on past mistakes or failures, but instead ask for help from friends and family who can support you in difficult times.
It’s important to prepare for the worst-case scenario, instead of reacting during a crisis. It will help you remain in control of your emotions and act proactively when things go downhill. When you feel emotional, give yourself 24 hours before responding. Remember that everyone is trying their best to do what they think is right for the company or project. If something upsets you, look at it from another perspective and respond accordingly. The ability to follow up shows maturity and dedication, which increases credibility and builds trust with others.”
“Multiple Reflections”
When you face a tough question or decision, ask yourself what someone you admire would do in that situation. Having a role model will help you make decisions and keep your team on track. You can also set an example for others by being a good role model yourself.
When you are busy and have to go from meeting to meeting, it can be hard to stay on schedule. This leads to stress and loss of energy. To avoid this problem, make sure that you spend more time doing things that give you energy than those that drain your energy. Spend more time talking with people than running errands; save some time for yourself so that you can reflect on what’s going on in your life; exercise so that you can focus inwardly while also noticing the world around you.
