Tarek Bukai: Visioning to Provide Universal Access to Business Intelligence
The 10 Most Innovative Leaders Changing the Face of Business, 2022
The founder
and CEO of Idea Consult, Tarek Bukai, is a transformative leader who is driven
by a desire to revolutionise excellence and a love of challenges. With his
experience in business growth at Magna Invest and his knowledge of investment
management and financial analysis, Tarek is well-equipped to help Idea Consult ‘s
customers make smarter business decisions. He is an accomplished vice president
with a track record of employment in the hospitality sector. He possesses
expertise in entrepreneurship, equity research, business strategy, and
negotiation. strong professional with a Harvard University master’s degree in banking,
corporate, finance, and securities law.
Idea Consult
Idea Consult is a hub for business and economic information.
It is an online consultancy that integrates best practices in market research,
data mining, and processing technology. With a few keystrokes, it provides
investors, entrepreneurs, and consultants with all the data they want in any
sector, zip code, or area in the United States. The platform is designed to
provide quicker, simpler, and more economical access to the business analytics
required to validate a business idea from the onset. As Tarek states,
“We created an algorithm that compiles all the market and industry data
that a company requires to make better business decisions.”
At Idea Consult, we are passionate problem-solvers. And
we’re not troubleshooting these problems out of a hat.” Each member of
the team is an industry authority, has substantial knowledge from years of
experience, and has a vision for making business information universally
accessible.
The Vision Behind Founding Idea Consult
When he started Idea Consult, Tarek wanted to collect all of
the business information in the world and make it accessible to everyone. And
in some ways, the group has succeeded in doing that. The team is now
concentrating on business news from the United States.
Idea Consult serves as a clearinghouse for all publicly
available business intelligence in the US. Numerous business owners,
consultants, and companies of various sizes have benefited from this. Tarek is
content with Idea Consult’s current contributions to the industry, but he
acknowledges that there is still work to be done because he is targeting global
business information.
Growth
of Idea Consult during Pandemic
“We, like many other businesses, were affected by the
pandemic. Not knowing what to expect, a lack of awareness, and the fear related
to the life-threatening virus have all held the company in limbo at the
outset,” says Tarek. He further adds that, fortunately, Idea Consult was
able to adjust, improvise, and find ways to make the best of what it had six
months later. It was one of the most difficult challenges the firm had to face
yet. But the team was able to synchronize all the teams together from different
places with different time zones. He asserts, “The whole world has
changed, and startup or not, we must change with it.”
Being the Chief of an Organization
Tarek is a morning person. He begins his day with morning
exercise and meditation. Then, he monitors the development of his ongoing
activity or project and tries to foresee any issues so that he can deal with
them before they become bigger ones. He shares, “I make it a point to
touch base with my COO and co-founder, Nadia Lahham, to get updates and to get
a sense of the overall operations and team.”
Tarek’s primary duty as the company’s founder and CEO is to
maintain focus at all times. He doesn’t micromanage things and has a great
team. He firmly believes in assigning duties to qualified individuals and
allowing them total authority over their teams. They have earned their
positions, and Tarek is confident that they are more than capable of fulfilling
their duties. He wishes for his employees to share his enthusiasm for
business.He opines, “I am the CEO, but they are all my partners, so we
collaborate and create together.”
Lessons Learned During Professional Journey
“Your mindset plays a huge role in whatever you do
in life, and this is easier said than done,” says Tarek. He further
adds that everyone has off days, everyone experiences insecurities. He does,
but he also has to try to maintain a strong mental attitude. He shares, “Starting
your own company means getting a lot of NOs for answers. So, you must keep
looking for the YES. But, more importantly, you must keep searching for the
right YES. When you know your value, you don’t concede, and this can
occasionally lead to passing up possibilities that are appealing right now but
not in the long run, or vice versa.” He also believes that one also
must know what the challenge is in front of him or her so they can make better
decisions.
Tarek mentions that there will also be countless obstacles
and difficulties, and many people, sometimes including family and friends, will
try to discourage you. That’s just how life goes, and one must accept the
punches and keep going on. He opines, “Focus on the ball one step at a
time, and let the outside noise be just that clutter, a hindrance, a nuisance
that must be ignored.”
Moments
to Proud
Idea Consult, in Tarek’s opinion, has given him many reasons
to be proud. The organization takes pride in every client that is happy with
its services. For him, each time the group comes up with a solution or starts
to come up with ideas for new projects, those are times to be proud of. For
Tarek, a successful day at work with his colleagues is even better than a
stress-free day. “But perhaps the biggest yet is founding Idea Consult
—that was a NO that I turned into a big YES,” says Tarek. He
remembers that while he was establishing the business, many business leaders
admired his idea but had doubts about his ability to execute it. He and the
crew succeeded through pure willpower and tenacity. And no matter what happens
in the future, Tarek will always be proud of that accomplishment.
‘Success
is Not an Easy Path to Walk’
There’s a quote that Tarek really likes that says, “Success
is not built on success. It’s built on failure. It’s built on frustration.
Sometimes, it’s built on catastrophe.” He finds leading a
company to success is hard. There’s no sugarcoating it and it’s an ongoing
process that doesn’t stop with a milestone. He asserts, “You need to
keep going and growing. Thinking about Idea Consult is not the hard part since
the vision I have is clear.” Tarek saw better possibilities to
influence the course of business and project development, but translating that
vision into reality required unequivocal belief, hard work, commitment, and
perseverance. Tarek opines, “My dream for the company is bigger than
myself. So, I was willing to do what it took to achieve that dream and not give
up on it, and that included failing, even a hundred times or more, and learning
from those failures.”
For Tarek, the definition of success is subjective. Some
people could consider starting a business or being the CEO to be successful. It
is, though not exclusively. It goes beyond just having a high social status,
financial security, or a master’s degree. He says, “Setting a goal and
achieving it is what defines success.” He adds, “It is having
the right mindset to go after what you want in life and using that outlook to
achieve your goals.”
Living to Motivate and Empower
Tarek finds no separation between his personal and
professional lives since they are intertwined. He doesn’t consider these areas
of his life on a scale but as parallel roads leading to a common goal. And that
is his life’s mission. He shares, “It may seem cliché, but I firmly
believe I was born to make a difference and contribute to making the world a
better place. And I see my work as an extension of that mission.”
Tarek instills the same form of motivation in both himself
and his staff: get up, explore the possibilities, and seize the opportunity to
change the world. As he analyses the simple yet difficult questions, what can
he do today to improve someone’s life? What can he do to improve the world? He
continues by saying that although these seem like idealistic topics, even the
simplest solutions, like making a coworker smile, can have a significant
impact.
Innovation
is the Future
“Creativity and innovation are two practices that
cannot be taken lightly,” says Tarek. He believes that when you
create, you think of new ideas, and when you innovate, you act on those ideas,
and that your company requires both to continue to evolve. He asserts, “To
thrive in what we do, we strive to continually enhance, update, and upgrade our
system by bringing new resources, AI, technologies, and services. The
competition is always fierce, and it always will be. To stay ahead, you must
create and innovate to provide better services and produce better outcomes.
Like Thomas Edison said, “There’s a way to do it better—find it.”
According to Tarek, the Idea Consult team has always sought
to offer business information not just in the US but all across the world. Idea
Consult’s next major area of focus is on that. However, it also innovates and
tinkers continually to enhance its platform and services.
Aspiring leaders should concentrate on creating a firm that
adds value and makes the world a better place, says Tarek. He says, “Give
people something of worth—a valuable product, a trustworthy company, or a
worthwhile service, and you’ll quickly find that they’ll repay you with
loyalty.”