Building a business of tomorrow

Building a business of tomorrow

Alicia Curtis
Written by: Alicia Curtis
@aliciacurtis
Alicia Curtis

Alyceum is proud to be announced as one of Westpac’s 200 Businesses of Tomorrow from over 2000 applications across Australia.  As part of the announcement, the 200 businesses were invited to a Business Summit in Sydney with speakers such as Marc Randolph, co-founder of Netflix and David Lindberg, Westpac Chief Executive, Business Bank among others.

I traveled over with my 6-month old son and my mum who cared for him so I was able to attend the Summit. Big props to Westpac too for making them feel so welcome. Talk about the new way of business!

During the Summit, we explored future business trends, what it takes to be innovative and how Australia can further foster entrepreneurship. Here are some of my key take-aways:

Marc Randolph, Co-founder, Netflix

  • The innovation process is about your ability to have lots of ideas, validate them as quickly and cheaply as possible until you find one that sticks.
  • Innovation needs persistence and optimism.
  • Take your ideas and collide with customers.

Panel Session with Mia Freedman, Mamamia, Dare Jennins, Deus Ex Machina, Rachael Powell, Xero and Andre Eikmeier, Vinomofo

  • Attract your tribe through content that shows who you are.
  • Technology can help you scale the human experience.

David Linberg, Westpac Chief Executive, Business Banking

  • Key business trends include running service based businesses, selling to (rather than buying from) China, automation and robotics, purpose in business, gig economy and changing demographics.

Bernard Salt, Demographer

  • Australia has the largest proportion of city population comprising of international born residents (Perth, 41%, Sydney 42%)
  • Australia is not creating big businesses.  All our major businesses where founded in the late 1800’s and early 1900s (think BHP, Telstra, Wesfarmers, Woolworths and the Banks) compared to 5/10 of America’s biggest businesses (Think Apple, Google, Microsoft, Facebook and Amazon) which were founded in the last 30 years.

It was a fantastic Summit to meet inspiring entrepreneurs from around Australia and think about society will look like in 2020, 2030 and 2050.  Thank you Westpac for the honour of being named in the inaugural list and for the Summit experience.

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