Dietmar Kottmann, a partner in our Insurance and Asset Management Practice, recently met with German alum, Paul-Lukas Hoffschmidt to delve into his fascinating career journey and entrepreneurial ventures. Paul, who began his professional path at Oliver Wyman in our Düsseldorf and Munich offices, has since launched multiple companies and become a prominent angel investor.

How did Oliver Wyman help develop your entrepreneurial spirit?

The constant “can-do” attitude — that a problem can be solved when people with diverse strengths come together— thrives not only in a consulting setting but also when building companies.

What advice from an Oliver Wyman mentor still resonates with you today?

I've had many mentors at Oliver Wyman over the years, and the constant theme of advice was that they already saw the next step I could take before I even had the conviction to take it.

That guidance has propelled me forward throughout my career and provided me with opportunities at every step. The skills acquired at Oliver Wyman allowed me to learn quickly — something I think is quite unparalleled with other industries. I developed skills like communicating with customers, showing empathy when talking to counterparts, having a deep set of technical expertise in data analysis, thinking about problems in a structured way, and tackling them from multiple fronts at once. 

You met your business partner Robin Rump, at Oliver Wyman. Tell us how you continue to implement the company's work ethic in your current venture.

Having worked with someone and knowing each other's strengths is extremely valuable, especially in a startup setting where everything is in flux. One of the biggest risks of any startup is that the founding team falls apart. No matter how good your business model is, you usually can't survive such a situation. Working under stress and under pressure together and seeing that the team is able to deliver great results forms a solid foundation. I'm really glad that Robin and I joined forces to build Alpha Sophia together. We often talk about having worked in a similar setting at Oliver Wyman, and understanding our expectations for working together helps us be efficient.

What advice do you have for current Oliver Wyman staff?

Stay curious and push boundaries. Focus on finding the truth rather than thinking in hierarchies. This attitude is invaluable in any career — whether consulting, as a founder, or within a larger organization. Regardless of your company or industry, internal politics will fade away. What really sticks is having a better approach to teamwork and jointly finding the right outputs and insights.

This page was originally published on August 5, 2024.