The Electric Car Start Up
Part 2: Raising Funding
We are attempting to build a real automotive business.
We are attempting to establish all the technology and infrastructure that decision entails.
Follow us as we co-launch, with Richard, a recent ex-MBB consultant and Firmsconsulting Case Coaching Alum, a start-up to build an electric car. As we encourage clients to pursue significant goals, we want to show you how it can be done.
This is the 2nd business we are co-founding to demonstrate how a strategy partners' thinking would guide a start-up. Yet, unlike the Luxury Brands Digital Start Up with Tati, this new company is larger, with employees and backed by generous funding from the Chinese government. Both programs teach valuable lessons that we do not repeat. So you should watch them both.
We will capture all our steps, insights, analyses and lessons and you can follow us along. Our goal is to teach you to think the way ex-strategy partners do, introduce you to advanced problem solving skills and teach you how to build a business, or work inside a high-tech business in a brutally competitive space.
We are chasing a deadline. You will follow us, in real time, as we make some very important decisions on what/if/when/how we will design, assemble and/or manufacture? How will we start the process? What will be our first product? What market will we target? How will we set up manufacturing? There will be many more tough questions we will answer in the program.
Richard, a joint business and engineering graduate, moved to Asia upon joining MBB. After spending 4 years at the firm, and being promoted, he chose to bypass the MBA route and co-found a automotive start-up. This program focuses from the period when we decide to seek funding and build the business. As you will see, it is an incredibly tough task in a very crowded field, with significant technical and regulatory hurdles along with steep capital requirements.
Disclosure: When we admit clients to this program, Firmsconsulting assumes a controlling equity stake in the business, though we are not investors.
We work with ex-partners of McKinsey, BCG et al to teach you critical thinking, strategy, operations and implementation skills. We teach you how to apply their skills. We teach you to apply those skills within case interviews. We teach you how to apply those skills to solve complex consulting assignments. We teach you how to apply those partner skills to transform your career. These start up programs continue the theme of teaching you to apply the analytic and problem solving skills of partners to set up and build businesses, be it a start up or building an existing business within a large company. We are always teaching you to apply those skills.