How to Achieve a Net Worth of $100+ Million USD Without Working 80-90 Hour Workweeks: An Interview with Richard Koch

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Richard KochIf you’re reading this site, there’s a good chance that you wouldn’t mind being worth at least $100 million USD one day.

And while you’re willing to work hard to get there, you’ve probably also realized that working investment banking hours for the next 20-30 years is unsustainable.

If that’s you, then today’s interview with Richard Koch is right up your alley (yes, that’s a link to his Wikipedia entry).

This is unlike any other interview on the site – even those with senior bankers – because it’s with someone who has had a successful 40+ year track record in business.

Among other things, he:

  • Worked at BCG and Bain, became a Partner at Bain, and then founded L.E.K. Consulting, which later grew to 1,000+ consultants.
  • Wrote over 20 books on business, personal success, and philosophy, including The 80/20 Principle, which sold over 1 million copies.
  • Became a successful investor and returned between 5x and 53x his capital in numerous private equity investments.

So it’s safe to say he’s accomplished many of your own goals.

We chat with him about all of that, his advice to recent graduates and current students just starting out, and what it takes to start your own firm and become a successful investor:

Management Consulting: Got Transferable Skills?

Your 6-Month Step-by-Step Game Plan to Finance Interview Prep, Part 2: What to Do in the 2 Weeks Leading Up to Interviews… and the Week After

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Finance Recruiting Timeline, Part 2: The Last Minute“If it weren’t for the last minute, nothing would get done.”

-Rita Mae Brown

Welcome to Part 2 of the Interview Game Plan Preparation! If you’ve missed what you should do during the first five months, make sure to read Part 1 here.

The first 5 months of your interview prep were all about building a sound foundation, so the last few weeks before interviews begin are mostly about fine-tuning that foundation in the wake of mounting pressure and limited time.

This time around, we’ll turn our attention to what you need to do 2 weeks before interviews, 1 week before interviews, and then go down to days, hours, and minutes before interviews.

In this article, you’ll learn:

  • How to find “insider information” (the legal kind) on specific companies and use that to gain a big leg-up in interviews
  • How you can anticipate and prepare for specific questions in advance
  • What you should avoid doing in the 48 hours to 24 hours before an interview… that other people sometimes claim is a good idea
  • How to build your confidence right before the interview

Two Weeks Before the Interview – Deals and Networking

Your 6-Month Step-by-Step Game Plan to Finance Interview Prep, Part 1: What to Do in the Months Leading Up to Interview Season

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Finance Recruiting Timeline, Part 1“All men are created equal, some work harder in pre-season.”

-Emmitt Smith

Everyone has their pet peeves. For me, it’s someone who:

  • Spends hundreds of thousands of dollars and 4 years of their life on a top-notch education…
  • Spends thousands of hours more, even before that, on getting into that top school…
  • Works incredibly hard at this top university or MBA program, participates in tons of activities and sports…
  • And then fails to invest any time, effort, or money into interview prep.

I’ve been in the resume editing and interview coaching business for a while now and I see it all the time: your background gets your foot in the door, but your interview and your storytelling skills set you apart.

You don’t want to end up bitter after spending $100,000+ on your education, winning 40 interviews… and getting zero offers.

You can make a last-minute effort and still succeed, but you won’t get the best results that way. Instead, you need to start planning at least 6 months in advance by:

  • Sitting down and thinking about the qualities that make you a great candidate for specific jobs
  • Picking the right jobs to apply to in the first place… the ones that match up well with your strengths
  • Making a list of the specific questions you should ask alumni and anyone else in your network when preparing for interviews
  • Giving yourself enough time for interview practice so that you’re not caught flat-footed when interviews arrive

Let’s break down what you need to do in more detail, month-by-month: