This Saturday, I had the privilege of attending Paul Okundaye’s Think Tank as a part of the
Associate National Lead program. Paul Okundaye is a Harvard Business MBA graduate who has worked as a senior associate consultant at Bain and Company and as the growth strategy manager for Microsoft.
At the beginning of the Think Tank, I had no idea what consulting was or what it consisted of. However, Okundaye's Think Tank opened doors and allowed me to dive deep into consulting as a career.
We were first introduced to the 2 popular majors of business: investments and consulting. Okundaye took the time to distinguish the differences between the two fields which included investment firms focused more on handling large transactions while consulting was more geared towards using management to solve challenges. As a consultor, you are essentially the "middle man" between transactions which makes it a very important career.
Next, we were introduced to the market size. There are 3 different types of market size: total addressable market, serviceable addressable market, and serviceable obtainable market. Market size is important for any business-related activities as it acts as an indicator of how successful a business/product/service will be in the industry. To calculate this, Okundaye walked us through a formula, which is as follows:
Market size = # of targetted customer * # of products per customer * expected # of puchases
In the end, I thought this Think Tank was very insightful as it gave a very well-rounded summary of what consulting is and I got the opportunity to explore a new career path that I hadn't heard of before.