A common case interview moment:
The case starts. The industry sounds unfamiliar. You pause.

“How do I form a hypothesis if I don’t know this space?”

It’s a common worry. But interviews aren’t testing expertise, they’re testing how you think.

You don’t need the correct answer or a clear starting point. 

I’ve seen great candidates build solid hypotheses in industries they’ve never touched by staying calm and thinking simply.

This article will show you how to do the same:

• How to build a structure from scratch
• What to focus on, and how to sound sharp even when the topic is new.

In real consulting work, you won’t always know the context.

But you can always lead with logic.

Let’s begin.

What to Do When You’re Completely Lost

Some cases will feel like a blank page. The industry is unfamiliar, the business model unclear, and you’re not sure what to ask.

That moment isn’t a failure. It’s a signal to slow down and reset.

Go back to first principles:

• Who is the customer?
• What are they paying for?
• How does this business make money?
• Where could value be leaking: price, volume, cost, delivery, demand?

Starting there gives you something solid to build on.

And if the gaps are too broad, ask clarifying questions. It’s part of strong hypothesis building. 

Interviewers want to see how you think when context is missing, and how you identify what needs to be true before moving forward.

That’s where good structure begins.

Next, you’ll need a working hypothesis.

Understand What a Hypothesis Really Is

Some candidates think a hypothesis means guessing. Others try to give a full answer right away, even before they understand the problem.

But that’s not the point.

A good hypothesis is just a starting idea. It’s something you test. If it works, you keep going. If not, you change direction.

In interviews, you’re not expected to be right. 

What matters is how you think when things are unclear.

A simple hypothesis helps you focus. It shows the interviewer: “Here’s what I think might be true, and here’s how I’d check.”

Example: A client’s profits are down. You don’t need to know the industry to say:

“I’d check if revenue went down, or if costs went up. If revenue dropped, was it fewer sales or lower prices? If costs rose, were they fixed or variable?”

That shows structure.

Now compare it to:

“Maybe customers left?” or “Maybe something got more expensive?”

That’s too broad. It doesn’t help you move forward.

But, how do you build that kind of testable thinking?

You start with business logic.

Use Business Logic to Build Strong Hypotheses

Industry terms might help you sound sharp. Business logic helps you think sharp. Here’s what to look for instead: 

Anchor on Business Logic, Not Industry Jargon

When you’re faced with a case in an unfamiliar industry, the instinct is often to reach for jargon you’ve seen in reports or heard in practice sessions.

But unless you deeply understand what those terms mean, they’ll only make your thinking sound shaky.

The better move? Anchor on business logic.

Most business problems boil down to a few universal levers:

• How the business makes money
• What drives its costs
• What affects customer demand
• What might be changing in the market

You don’t need industry expertise to ask questions like:

• “Is revenue falling because of fewer shipments or lower pricing?”

• “Are costs up due to labor, fuel, or infrastructure?”

These questions work even if you’ve never seen a logistics case in your life. 

Why? 

Because they show you understand how business works, not how to sound like an expert.

Use Common Business Patterns 

Most consulting cases aren’t totally unique. They follow familiar business patterns. 

You can use these as fast, testable starting points for your hypothesis.

Here are common framing structures: 

Industry	Common Challenge	Where to Focus Hypothesis
Retail	Low margins, shifting demand	Price vs volume? Cost structure?
Airlines	High fixed costs, volatility	Load factor? Fuel cost? Route utilization?
SaaS	Subscription churn, CAC	LTV vs CAC? Retention strategy?
Manufacturing	Capacity, efficiency issues	Unit cost? Bottlenecks? Downtime?
Food & Beverage	Shelf life, waste	Demand forecasting? Delivery model?

Getting familiar with how these types of businesses tend to behave will make it easier to form clear, logical hypotheses,  even when you don’t know the industry.

What to Look for Based on Business Type

Once you’ve spotted the type of business, you can form a hypothesis based on what typically drives performance in that model.

Let’s say you’ve never heard of the company. Zoom out and look at the business model:

• “This sounds like a service business… labor cost might be key.”
• “This seems B2B… maybe churn or long sales cycles are hurting revenue.”
• “This feels retail-like… volume, pricing, or foot traffic might be the lever.”
• “This seems asset-heavy… maybe fixed costs are squeezing margins.”

That’s called anchoring.

Instead of saying “I don’t know the industry,” try something like:

“If this follows a typical B2C model, I’d want to check if demand dropped due to pricing, product, or alternatives.”

That shift is what separates clear thinkers from uncertain ones.

How to Phrase a Hypothesis When You’re Unsure

You won’t always feel confident when a case opens. 

That’s normal. What matters is how you respond.

The goal isn’t to fake certainty, it’s to show structure.

When you’re unsure, the best move is to frame your thinking around what’s testable, not what’s “correct.” 

The wording matters. You’re showing that you know how to move forward without forcing an answer.

Here are a few ways to do that:

“I don’t know this industry well, but if this is a volume-driven business, I’d want to test whether demand dropped due to external factors.”

“Assuming this is a B2B service model, I’d start by looking at churn or longer sales cycles as possible causes.”

“If this business has high fixed costs, I’d want to explore whether those costs stayed the same while revenue dropped.”

These lines do three things:

• Show that you’re thinking in business terms
• Frame what you’re testing
• Keep the tone confident, but not forced

These phrasing tools are useful, but they only stick with practice. 

Let’s look at how to build that instinct across different case types.

Practice in Low-Stakes, High-Variety Cases

Working through a wide range of case types builds this instinct faster than trying to master one sector at a time.

Start with familiar business types. See what tends to shift, and what stays constant.

The goal is to build a mental habit:
Pause. Frame. Test what usually matters in that kind of business.

Remember, even strong candidates get stuck. What sets them apart is how quickly they recover structure.

The Takeaway

You don’t need deep industry knowledge to build strong hypotheses. What matters is how you think, break things down, and move forward with logic when the topic is unfamiliar. That’s the real skill behind every good case performance.

If that’s what you’re working on, you’ll want to train it the right way. Module 1 of the Immersive Case Interview Prep Course at High Bridge Academy was built for that exact purpose. Clear thinking. Step-by-step practice. And the kind of structure that holds up, even under pressure.

Good luck and see you in training!