Baking a business: you will need
It’s one thing to have an idea, it’s another entirely to bring that idea into fruition. This week our Master's candidates have been pulling together the different strands of their project to solidify their plan and nut out how they are going to implement it.
Fueled by donuts from the café around the corner and bottomless cups of tea, the group spent time troubleshooting, collaborating, testing and reiterating their project.
What does it take to make ideas a reality?
To build a viable business or project, you will need: an idea that resonates, a hearty dose of research, the ability to question and adapt, time for collaboration, a penchant for perseverance and one or two dollops of fun.
At this stage the candidates' ideas are taking shape - informed by the core topics and sessions from the course, as well as their own findings and discussions with the group.
Babek Ismayil from Huffington Post wrote an article about how 'the future of technology may be collaboration, not disruption'. He writes about the global trends that the likes of the sharing economy, mobile tools and apps have set in motion, and highlights that business which thrive today are those able to break down silos and collaborate within and across industries.
We're seeing exactly this play out on a smaller scale between our candidates. Coming from very different backgrounds, both personal and professional, the group has worked together throughout the course to strengthen plans, consider different angles, change tact and create something increasingly tangible.
Business, money and connectivity
Alongside our project sessions, this week we welcomed in guest speakers to talk about connectivity in New Zealand and the money side of starting a business.
According to IDC, the technology analysts, by 2020 there will be 30 billion connected 'things' and the market will be worth upwards of $1.7 trillion. Vodafone is currently working on machine-to-machine tech as well as automation and connected cars.
Pollard and Fisher talked about the increasing web of smart, wireless interconnected devices; the ways it's changing how we live and work; and the business opportunities it presents. Nick Manning, Crown Fibre Holdings GM of Government and Industry Affairs, also visited us at Tech Futures Lab. He spoke about Ultra-Fast Broadband in New Zealand, where connectivity is headed, and his own career journey - including jumping from the world of law to the land of broadband to follow his passion for building a better nation.
Changing tact to money, funds and numbers, Paul Cameron, co-founder and CEO of Booktrack, returned to the lab, and we welcomed in David Pratt, Director at Carpenter Pratt Chartered Accountants Limited.
Paul shared insights into venture capital and funding, including what to do and what not to do, pitching and shares, while David shed some light on tax, what to consider when forming a company, and when to bring an accountant into the mix.
Get in touch
With three more weeks onsite at Tech Futures Lab, our Master's candidates will soon enter the next phase of the programme, which will see them taking their projects to the next level of development and implementation.
Follow us on Twitter to stay up to date with what's happening. If you want to know more about our Master's Programme, come along to a Career 3.0 seminar this April or May, or get in touch with the team.