Posted on 21st July, 2016
Posted on 21st July, 2016
by Daniel Callaghan
CEO & Founder
How to tap into a $ trillion market
Daniel Callaghan, CEO of current fundraising business MBA & Company, explains how the company is monetising a shift in the way businesses recruit talent in today’s global economy.
We have always set ourselves a bold vision within MBA & Co.
Since we were founded in 2011, we have always known that the task of unlocking the power of the world’s independent workforce was no small feat but one that we were capable of delivering to a market that was ready and waiting.
In 2016, the world of independent work represents a trillion dollar global opportunity and one that we only require a small fraction of to build a significant business. That might sound optimistic: the reality is that whatever way you cut the market, the potential is sustantial. If you were to research just the UK Market, you would discover that £21bn is already spent on independent consultants in the UK each year, £2bn is spent on executive interims across the UK and £24bn is spent each year on strategy and operations consulting alone.
The best talent can afford to be selective
The trend for the best talent having increasing say over who they work for, when they work and on what projects is increasing, as more and more choose to go independent.
This means that companies now have to incorporate this new talent into their project teams and use better tools and services to find and manage it.
MBA & Co has built this technology and is now in prime position to capitalise on this accepted acknowledgement of technology as the interface for managing those relationships.
Today, we have over 26,000 screened and vetted consultants across 132 markets. We have a global client base of the largest names in every sector who use the service on average once a month (Average project £25,000) and increasing. We have built a small but efffective salesforce across 6 countries that is strengthening our client relations internationally and lets us extend our offering across borders and into their other offices.
Most importantly, we have built an excellent management team with great domain experience in digital marketplaces, consultancies and recruitment that is now set to achieve 3.5x growth this year and close to reaching a £100m of work distributed across the platform.
A bold but achievable vision
As we close this round of funding with backing from VC firm MMC and equity investment platform, VentureFounders, we are well placed to be the home of independent talent, champions of independent consultants, and build the means for companies to access expertise on demand.
In the end, we expect MBA & Co to be a global organisation that can provide companies with a faster, more efficient and cost effective way to get the best talent delivering those crucial proejcts. For the consultants, we will provide an ecosystem that lets them grow their independent careers, creating opportunities to upsell and cross sell a range of services, while also ensuring they have the support needed to suceed both for themselves and the client.
The world of MBA & Co may to some sound far off and distant. In its simplest form it is the representation of the clear shift of people choosing to move away from a job for life mentality, and brought online for speed of access for use. It is the future of work and one that I hope you can join me in helping to create.