Magical Week – Finance and Consulting

Inspired is an under qualifying word for the week, So I called it Magical. The week was supposed to give us just an exposure to Finance and Consulting industry prevalent in NYC, it ended up inspiring me to pursue an Entrepreneurial journey in the consulting domain.I have a lot of takeaways from this week and this undoubtedly the best week I have had so far in NYC, it keeps getting better.

The first session by Paul was an in-depth insight into the consulting industry and he gave us very interesting ideas to pursue an Entrepreneurial career in this industry. He also mentioned that Mobility, interactive video, interaction between organisations and open source are the future tech services which would be in demand. He stressed on the fact that we need differentiate ourselves in the consulting industry to stay alive in the business. He also mentioned that importance of making companies revise about their sustainable competititve advantage while you are consutlnig them. One needs to understand, how these business units hang together and how can you be the agent of change in the context?Paul then stressed the importance of networking and the rise of meetup events in the city.

Most important takeaway for me from Paul’s talk was new business model for start-ups in the consulting space. He mentioned that rather than selling strategic theory , sell solutions for step wise phase, i.e, sell the implementation plan. Be accountable, participate and implement the solution for the client.The art of consulting lies in listening, selling, doing our Homework and aligning the interest of clients with yours. He also mentioned the attitude of Hungarians in doing business with Americans, which is also an important takeaway considering I am a foreigner willing to work in Hungary.

He also urged to start small, work through your problem and learn to re-direct. Be passionate about transforming industry segments eventually contributing to the economy.

The trip to Zephr management was my favorite among all company visits as the two leaders gave us an exceptional talk on skills to develop to survive in the industry. They spoke about seeking the relative advantage over competition and the fact that rising tide takes all boat. He urged us to be in a position to be lucky and try to be on the rising tide ahead on the industry. They explained us the true definition of value and the importance of Quantification and big data.

Rudin management was an interesting visit as it was my first real estate company visit. To my surprise, they did completely different than what I had thought of. I was dumb struck at the level of innovation prevailing in NYC deeply penetrated into every sector, even real estate saving millions of dollars for companies.

THe talk on “Future of Finance” was exhilarating and very thought inspiring. Stephen’s philosophy was to “Bet on unexpected and discount the obvious”, and this he called is the future of finance. He stressed on the importance of skew-level data and to build business on transactional data.

The visit to General Atlantic, one of the biggest private equity firms, gave us a whole new perspective of the money management industry. This was in stark contrast with Zephr management and was very interesting to hear the CEO of such a big firm.

Finally, the last day of week, which in a way made a lot of impact in my life started with the EY visit,which wrapped up the learning week just perfectly. The employees were super helpful in answering our queries on the consulting industry and about EY’s strategy in this industry. They also highlighted the initiative of EY to build a better working world.

The best part was yet to come ,the visit to NASDAQ and my presentation on NASDAQ stage. The opportunity could have been bigger, the stage could not have been more special, but due to my stupid mistakes and some technical misunderstandings, I could not perform the way I was prepared. But the learning from other teams and my mistakes on such a big platform left me speechless and in deep thoughts. The situation was helping me mature in my thoughts, I was learning….

 

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