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I would like to build a new consulting company like McKinsey. I do have a significant competitive advantage, (based on software) in a niche field, and now I need advice on how to start creating a "package" like McKinsey. I believe their "package" consists of the following (please add anything I have missed):

  • A huge network of the best people spread across the world
  • Efficient knowledge sharing internally
  • An education institution converting relatively cheap excellent graduates into managers within a few years, further expanding the network
  • An image of excellence, which attracts excellent people

For a bit of background, I have contact on vice-president and CXO level in a few of the largest companies in my country (and brands) and they trust our services enough to spend significant amounts of focus, time and money on us delivering value. This means that I expect to get the money needed for hiring what is needed (though of course only on a small scale), in order to execute the strategy you recommend.

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The people you are looking for are not "entrepreneurs". They are smart people from respectable families that are trying to carry on their family names, and have attended the best schools. You'll need people with impeccable Resumes, because you'll be looking for "pedigree"... Ivy League, because this is your brand...

You're on the right track with "knowledge sharing". Mackenzie's greatest advantage is that is has 7 other clients that working on something similar, and they help to share those best practices across industries and companies... Create "management meetings" where the top consultants in your company share stories twice a year, etc. I would imagine internal and external dinners would need to be a regular thing, so ideas and information can be regularly exchanged.

It's hard to build a brand like McKinsey. McKinsey has been around since 1926. History of McKinsey

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Much like all B2B services, consultancy practices like McKinsey rely on deep relationships which in turn provide brand and reputation value within a given industry. In order to grow into a well-respected player, your team should focus on: (a) continuous client relationship development, (b) delivering subject matter expertise and significant value into your niche community, and (c) positioning your organization's brand at a level of high professionalism and service delivery excellence.

Best of luck!

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