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