“Valuable Lessons not only from a Business Perspective, but also from a Teamwork and Leadership Perspective”
The IMPACT student team speaks about their time working with Nephosity
Working in the consulting project for startup Nephosity left us with very valuable lessons not only from a business perspective, but also from a teamwork and leadership perspective.
Learning about an industry new to most of us was like drinking from the fire hose. We knew there was no way we were going to become experts in the medical imaging industry in such a short period of time, but with the power of our “collective brain” we certainly learnt enough to be “dangerous”. As a result, we were able to provide Nephosity with a business model recommendation and a 5 year growth plan for the startup.
Professor Lowe’s high standards of excellence set a high bar for our team to meet. It was clear that priority one was to meet our client’s business needs and expectations.
Figuring out the market size, how the startup could generate revenue and go to market, estimating costs and determining the investment needed to grow the company into a profitable business, plus keeping our client informed on project status and incorporating his feedback as more information became available was not an easy job.
Some of the things we learnt from the experience were the importance of having clear goals and expectations, open communication and overcoming the challenges of forming a geographically disperse team. Willingness to change directions based on feedback, dedication and collaboration from every team member, and determination to succeed motivated us to pass through the raging waves and to generate the final deliverables.
- Team Nephosity – Chinmay Sheth, Tim Murray, Graciela Casebeer, Erich Olson, Cliff McEnery, Marc Lowe, Shamson Wong