641: Former Bain & Company Director Michael Farmer — Differences Between McKinsey, Bain and BCG, Strategy Consulting, Helping Ad Agencies and Their Clients Navigate Change (Strategy Skills classics)

641: Former Bain & Company Director Michael Farmer — Differences Between McKinsey, Bain and BCG, Strategy Consulting, Helping Ad Agencies and Their Clients Navigate Change (Strategy Skills classics)

Author: FirmsConsulting.com & StrategyTraining.com April 2, 2026 Duration: 1:02:41
The Strategy Skills Podcast: Strategy | Leadership | Critical Thinking | Problem-Solving
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In this episode, let's revisit a Strategy Skills classic interview with the author of Madison Avenue Makeover: The Transformation of Huge and the Redefinition of the Ad Agency Business, Michael Farmer. He also wrote the award-winning Madison Avenue Manslaughter, an inside view of fee-cutting clients, profit-hungry owners, and declining ad agencies (Third Edition, 2019).

In this episode, Michael speaks about the time he worked for McKinsey, Bain, and BCG, and the differences between the three consulting firms. He also shared his advice for those aspiring to build their consulting firm and discussed the technique that helped him write his first book, Madison Avenue Manslaughter. Finally, Michael shared his experience of helping in the Transformation of a Creative Ad Agency (Huge).

Michael Farmer is Chairman and CEO of Farmer & Company LLC, a strategy consulting firm for advertisers and agencies. He also serves as Professor of Branding and Integrated Communications at The City College of New York (CCNY). He has an MBA from Harvard Business School and was previously a Director of Bain & Company.

Connect with Michael here: https://www.farmerandco.com/

Get Michael's book here: https://www.amazon.com/Madison-Avenue-Makeover-transformation-redefinition/dp/1911687646

Madison Avenue Makeover: The Transformation of Huge and the Redefinition of the Ad Agency Business. Michael Farmer.

Enjoying this episode? Get access to sample advanced training episodes here: www.firmsconsulting.com/promo


Tune into The Strategy Skills Podcast: Strategy | Leadership | Critical Thinking | Problem-Solving for conversations that move beyond abstract theory and into the practical mechanics of decision-making. Hosted by the teams behind FirmsConsulting.com & StrategyTraining.com, this series connects you directly to the minds shaping how organizations and individuals operate. Each episode features a diverse roster of guests, including sitting CEOs, senior partners from top consulting firms, acclaimed academics, and even high performers from sports and the arts, all dissecting pressing challenges in business and society. What you'll hear is a deep, unfiltered exchange of ideas on applying strategic frameworks, exercising genuine leadership, and honing the critical thinking required to solve complex problems. The dialogue is built for professionals aiming to advance their careers, managers seeking more effective tools, and anyone interested in the disciplined thought processes that drive success. This podcast serves as an audio companion for those who want to learn from real-world application, not just textbook cases. By focusing on the interplay between strategy, leadership, and problem-solving, it provides actionable insights you can use immediately in your own work and life.
Author: Language: English Episodes: 100

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The Strategy Skills Podcast: Strategy | Leadership | Critical Thinking | Problem-Solving
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