Round 2

Once I managed to navigate my way through exam process (it had been a long time since I had the pleasure), I was able to get started on the detailed business case for my entry.

At first glance of the brief, I thought “no problem at all”.  Accenture gave a clear outline of what you should include and what the entry would be judged by. They wanted to know about my idea, the unique selling points, the target market and what it would do for them.

It sounded straightforward…until I started to drill down into these areas. I very quickly realised how much I had to learn. Steep learning curve ahead!

I needed to describe how the business would look. This is not the image and branding that might come to mind but the actual set up and operation of the business.  What will it do day to day? Who and how many will it employ? What technology will it use? How will it grow?

When I started to work on all of these areas, I realised that I needed financial quotes for the technology and salary scales for the proposed team.After four hours on the phone, I went from novice to expert very quickly in the area of apps and software development.

Basically, I was asking developers for rates on an app idea that I could not describe in detail because of intellectual property protection.

On the advice of the brilliant Lisa Domican (inventor of the Grace App), I scanned through the app store on iTunes and found the most similar app that I could get to the one I would need. From this, I could call the developer and ask for a rate on something close to the functionality. Bingo!! I had my quote in half an hour. I also discovered that while entry level apps are relatively inexpensive, high functionality without leaks and bugs come at a much greater price and consideration of mobile platforms has to be included (as that is the fastest growing sector of the market for my particular idea).

Advice to anyone researching costs and considering a similar route to market….developers do not like

tyre kickers (and who can blame them?!). Firstly, ensure that you actually need an app, have your example ready and a budget in mind. Then you are set for negotiation.

As for salary scales and qualification levels, I asked the experts. When I briefly explained why I was asking for help, professionals in the industry area were more than happy to share their thoughts. Don’t be shy or too proud to ask for help from peers, colleagues or even tenuous business links. At some stage you will be the expert and can pay it back by sharing your knowledge.

I would also highly recommend keeping a contact book/list from the day you first come up with your business idea. Use it to collect the names and contact details of each person you meet who may be interested in your idea, have expertise, or have access to information and people to help you. I have been carrying my original notebook (and now phone notes) in my bag for three years and they have travelled everywhere with me. The contacts, notes, links and ideas that it now contains proved invaluable during this process. No matter how much time had passed, people were delighted to give help and advice.

  

On the subject of asking for help, I would like to give “ Peter” a mention. This is the very lovely man who has answered all of my questions regarding the competition entry on behalf of Accenture. I have no idea who he is apart from his first name but suffice to say that he always replied within 24 hours and gave as much guidance as allowed. Professional all the way!

Once I had all of my information together, I was able to draw down the financials for the first year. This took into account seed capital needed, running costs, how much the business would make and how it would change over time.

All of a sudden the business was no longer an idea in my head, it became financially viable and I knew it would definitely be an asset to the relevant sector. Now I just have to convince Accenture to come to the same conclusion (no self inflicted pressure there then!).

After a final review of the judging criteria and ensuring that I had ticked all of the boxes, it was time to hit the button and press SEND. To say that there was a sense of relief mixed with euphoria on completion of the document is an understatement. Spending time planning and gathering troops to help you reach your goal is one thing but to potentially have that goal within grasp is on another level completely.  

The next stage of the competition is a short list of round two applicants who will be invited for a meet and greet event in the Accenture offices. This is the opportunity to talk with some of the Accenture consultants and meet with previous winners of the award. From this group, six finalists will be selected to attend “development days” and get the opportunity to pitch their idea to a panel of judges.

The actual prize at the end of the rainbow is (drum roll) the Leaders of Tomorrow Tour to an Accenture global innovation centre (New York).  The winner is also given the option of pursuing the business idea as part of the NDRC Launchpad programme or an internship with Accenture.

I have always believed that if you can dream it, you can do it. Now I just need Accenture to share the same philosophy and take my idea through to the next round. Fingers crossed for a good result on February 17th!!! J

Round 1

So here I am…..a sales and marketing professional by day, student by night and a very hopeful activist/ change maker all the time in between.

Last September, I became one of the students selected for the inaugural year of DIT’s MSc Digital Marketing and Analytics. This is not a course for anyone who is not completely dedicated and ready to sacrifice personal time and energy (trust me). However, it is exactly the right place to be if you want to maximize your potential in the digital world and you are committed to being the best you can be in your chosen profession.

After just one semester, I know how to create a comprehensive digital audit on a business and develop a subsequent digital strategy. I can consult and advise on (deep breath) market trends, acquisition/retention/conversion, mobile marketing, branding, advertising, search, social, UX experience, performance, control/ measurement and driving consumer behaviour online.  With all of this information on board after only one semester, I am really looking forward to seeing what I can achieve by the time I graduate!

It was the Consumer Led Market and Research module of the course that led me to the “Accenture Leaders of Tomorrow Award”. While most of the students in the class developed their research assignments around an area of industry they work in, I developed mine around an idea that I have for a new business. Truth be told, I started the research a few years ago after my first meeting with Moses (pictured below) at an orphanage in Uganda. This story deserves a blog to itself but this little man has been the inspiration and motivation for the business idea development. Since that day, I have been working on the research but needed digital knowledge that would lend a competitive edge.  

Two research papers completed  (plus a lot of coffee, a blizzard of paper in my livingroom and many long nights of study later), I had fine-tuned my idea. At this point, I knew that I had uncovered a gap in the market and decided to act on it.

The next step was to research entrepreneurial and startup business competitions.  There are a few really good ones to choose from depending on the particular business vertical and angle that you want to apply your idea to.  I wanted to find the one that would (a) embrace new technology, (b) support women in business and (c) have considerable company expertise for guidance and mentoring.

When I was applying to study with DIT originally, I attended one of their breakfast seminars to learn more about the course content and structure. It was on that morning that David Rohan from Accenture was speaking.  David gave a great talk and the discussed the skills gap in the area of analytics that DIT was addressing. Ding ding!!…Accenture moved to the top of my list of companies to work with in the future. 

So when I found the “Accenture Leaders of Tomorrow Award” link on Twitter, I was within a few clicks of throwing my hat in the ring. The application was relatively straightforward and required a business outline giving short details on what it would do, who the target market is and what technology would be used.

A few weeks later and just before Christmas, I received notification of success in round one. It was a brilliant start to the festivities and even more reason for celebrations (as if I needed an excuse). I then had five weeks to develop a business case for round two.

This part of the process was to coincide with an assignment for our analytics module, an exam and a trade conference.  Time to put the pedal to the metal!!!