Week 5: Workshopping & the funding game.

This week was brilliant from a product development point of view. On Tuesday, I got John, Michael Margolis (who is author of the Arduino Cookbook), Christopher Pett (who runs a wonderful consultancy helping product designers bring their ideas to market) and Adrian McEwen (father of the lovely Bubblino) together in a room to workshop next steps in GNL’s development. I’ve worked with all of them (except Christopher) in the past so it was very comfortable but a really intense day. We covered everything from breaking down the system in its most simple elements: hardware (electronics), software, product design and dove deep into the details. We also fleshed out what the web side of things would enable people to do, how it might grow from a 2 pager to a more functional service and how we might sell the lamps. We even looked at alternative design ideas that might make things cheaper. It was really brilliant to have people work together in this way and the day flew by.

Last week I went to the British Library’s Business Centre and attended a course called “Essential Business Finance” and this week was “Funding your Startup”. Both were really useful in different ways as I knew a lot from having run Tinker and my own consultancy but haven’t had experience looking for funding. I now have a P&L and balance sheet for the first 5 years of the business which is what investors prefer to see. Next in the pipeline: a few meetings lined up and working out a MVP (minimum viable product and site) to launch for this summer. I’ll also try to get the GNL in the Cisco Big Awards as they have an “internet of things” track there.

Onwards and forward!