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Consulting vs. Entrepreneurship

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  • 1. Visit evisors.com to browse all consulting and entrepreneurship experts who can help you with: • Mock Interviews • Resumes & Cover Letters • Informational Interviews …and more! Hosted by: Career Advisors on Demand..com/webinars
  • 2. Consulting vs. Entrepreneurship featuring: Fredrik Marø Co-Founder & CEO of Hosted by: Caitlin Quan Evisors Marketing & Operations Associate Hosted by: Career Advisors on Demand..com/webinars
  • 3. Survey Who wants to: a) work in consulting? b) Start their own company c) both Hosted by: Career Advisors on Demand..com/webinars
  • 4. Consultants = Successful Entrepreneurs? Hosted by: Career Advisors on Demand..com/webinars
  • 5. Quiz #1 a Name some successful entrepreneurs Hosted by: Career Advisors on Demand..com/webinars
  • 6. Quiz #1 b Name some successful entrepreneurs who used to be consultants Hosted by: Career Advisors on Demand..com/webinars
  • 7. Successful Entrepreneurs = Anti-Consultants? Hosted by: Career Advisors on Demand..com/webinars
  • 8. Goal: Help you on your career path Big Question: How can consulting help you as an entrepreneur and how can it hurt you? Hosted by: Career Advisors on Demand..com/webinars
  • 9. “Pursuing opportunity without regard to resources currently controlled” What is Entrepreneurship? Prof. Howard Stevenson Hosted by: Career Advisors on Demand..com/webinars
  • 10. Consulting and Entrepreneurship are About Problem Solving How can I fix it? vs. How can I build it? Hosted by: Career Advisors on Demand..com/webinars
  • 11. Quiz #2 What does it take to be a successful: a) Management Consultant? b) Entrepreneur? Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 12. How does consulting help you as an entrepreneur? Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 13. Director McKinsey’s 3 Learning Curves Engagement Manager Associate Principal Analytical Toolbox Team Leadership Client Leadership Associate Business Analyst Principal Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 14. #1: Hypothesis generation and testing Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 15. Problem #1: Is there enough of a market to sustain a $100m rev/year company in university admissions prep? Hypothesis: The addressable market is $700m What you have to believe in: 5 million applicants paying $140 each What you have to test: Are people willing to pay $140? Problem #2: Are they willing to pay $140 for your product? Etc, etc Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 16. #2: Analyzing and presenting data Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 17. Evisors is focused on a logical progression of industry expansion and product development Timing Familiarity Investing Legal Dental Medical Entertainment & Media Health & Fitness Tutoring Sector Expertise Functional Expertise Admissions Career Low Med High BETA PHASE 1 PHASE 2 Requiring regulatory work 0-1 year 1-2 years  White label the platform  Digital goods  Consumer products (sets of consultations, emails, etc.)  Project sourcing  Market research surveys  Research services Source: Evisors Analysis Products Target Verticals • Phone consultation & scheduling • Email consultation • Packages of consultations, analytics, etc. Size of Market Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 18. #3: Confidence Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 19. 19 TPR is underutilizing its online brand -- CONFIDENTIAL, DO NOT DISTRIBUTE -- Best in class offline content #1 selling admissions guides Vast online traffic 1M unique visitors per month But, limited online goods Website focused on offline content Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 20. How does consulting hurt you as an entrepreneur? Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 21. Dave McClure Hacker, Hustler and Designer Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 22. #1: Unrealistic Expectations 21 5 Year Financial Forecast 112010 Functional Expertise Industry Expertise Tutoring Admissions Careers 2015141312 Dental Medical Investing Legal Media & Ent. Health & Fitness Big Partners Evisors Consultations Revenues $ thousands EBITDA %-200% -13% -1% 7% 14% 18% Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 23. #2: Not knowing how to sell (hustle) Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 24. #3: Not being lean Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 25. Prof. Bill Sahlman: Get Relevant Experience Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 26. Consulting Startup Successes Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 27. Questions & Answers Hosted by:See the rest at evisors.com/webinars/webinar/67
  • 28. Questions & Answers Question 1: What benefits can you take from entrepreneurship when moving into consulting? Hosted by:See the answer at evisors.com/webinars/webinar/67
  • 29. Questions & Answers Question 2: Can you be both a consultant and an entrepreneur? Hosted by:See the answer at evisors.com/webinars/webinar/67
  • 30. Questions & Answers Question 3: How do you overcome unrealistic expectations? Hosted by:See the answer at evisors.com/webinars/webinar/67
  • 31. Questions & Answers Question 4: When did you make the transition from McKinsey to Evisors? Hosted by:See the answer at evisors.com/webinars/webinar/67
  • 32. Questions & Answers Question 5: What is your backup plan going into entrepreneurship? Hosted by:See the answer at evisors.com/webinars/webinar/67