Today we found out that a full day at Cass means just that. We started at 9.00am and stopped listening (and talking) at 9.15pm.
Quite an extraordinary day. I hope the EMBA internal students realise the importance of the people who have taken the time to present and mentor us here. The older ones of us recognised instantly the names of some entrepreneurs and inventions put up on the screen as James Dyson, but a few students seemed a bit confused by what “cats eyes” are, and certainly weren’t sure what a vacuum cleaner was, with or without the famous cyclone.
The mobile social networking world is however creating a wealth of business ideas, and some of these Cass students will make great waves as they head out into the world inspired.
Our first speaker was Leon Crutchley of Flypost, ex Cass student, speaking about his business which is due for rollout in many locations worldwide. I have just downloaded the App free onto my IPad, and the reviews are in the five star range.
Dr Julie Logan introduced the Business Model Canvas and we talked in groups about the details of our business, at whatever stage, under the keen cross-questioning of our fellow students.
Dr Jonathan H Deacon join us from Wales, to talk about marketing. He talked tribes, and how we must find and engage with our tribe. He talked about the need to increase the time we spend with customers and how by doing this we could find the unarticulated needs of our customers leading to true innovation. My action list from this session includes reviewing who my coolest customers are and using their testimonials to attract new customers.
One of the highlights of my day was the afternoon visit from Luke Johnson, Founder of Risk Capital Partners, FT columnist, and serial entrepreneur. If I have to pick just two pearls here it would be that as an entrepreneur life is full of limitless possibilities, and “never give a personal guarantee”. One of his current projects, Patisserie Valerie, is going to be one to watch.
The final major session was a question and answer line up of four quite different entrepreneurs from different industries and countries. Michael Shapinker Asssociate Editor of the FT chaired the group, drawing out the experience an opinions of each panelist. Offering us the benefit of their experience and hindsight were Mike Lander, Piscari; Adam Coxen Zimiti/Hamilton Bradshaw Venture Partners; Sean Seton-Rogers, Profounder, Iain MacRitchie, Maxi-Muscle/Hobbs Retailers.
We had quite different answers to some questions about the key features that the panellists would look for when investing, and what the critical requirements for success in an entrepreneurial business. Sean was adamant that execution is 100% key. Other advice concerned quality of the team “always recruit the best, never the merely available”, find yourself a superb chairman and non execs, but perhaps, as a piece of advice, I need to take on board was “Aim High”. Above all the message comes through, its a tough choice, and hard work. Remember what the rewards are though and make sure you receive them. Sean particularly stressed that venture capitalists are looking to minimise the downside, and like to see good evidence that specific issues have been dealt with thoroughly.
This is such a tiny bit of the assistance we had today, and hope that I have represented all the contributors as they would wish. let me know if I have misquoted! For sure other students will have picked up stuff that was more relevant to them.
OK, and then we had more networking with our peers and mentors, before finally exiting the building around 9pm!
Another exciting day tomorrow…….
