Generator Session Challenge from Blu Sky Chartered Accountants


Wednesday 25th  October 2017

Blu Sky chartered accountants

On Wednesday 25th November 2017, Team Academy Newcastle were delighted to welcome Dave Gibson, co-founder, and Arthur Liu, Client Account Support, to the Northern Design Centre to take part in an external Generator Session.

Blu Sky is an accountancy firm with a passion for helping ambitious businesses achieve success and growth. Blu Sky help their clients with business process design, coaching and mentoring, financial planning and forecasting, corporate finance, exit strategies and business valuations. They also specialise in digital and creative tax breaks such as Video Game and Research & Development tax credits, as well as Seed Enterprise Investment Scheme (SEIS) and EIS applications.  As a Chartered Accountancy firm, Blu Sky can of course deal with all compliance related work too such as VAT, PAYE, Auto-enrolment and Corporation Tax.

Students on the immersive experiential EBM programme have the opportunity to participate in a number of Generator Sessions a year in teams as an entire programme group.  It is a chance to show off what they are good at, what they have learnt and to apply it to a real business situation.  It is a combination of brainstorming, problem solving and presentation.

We invite local organisations in, to set our students real life business challenges.  The students (across all three years), work on the challenge in teams, bringing all their learning and ideas to bear in an intensive, short session.  The Generator Session closes with all the teams presenting their responses to the challenge and the Client determining the winning output.  The sessions normally last the best part of a day.

After an initial personal and company introduction, confirming the type and size of businesses they currently work with and the services offered, Dave and Arthur talked through the three main accounts reports – P&L, balance sheet, cashflow, and how they inter-relate.  They brought it to life with a number of business scenarios for small businesses and some real-life examples of what can happen when it goes wrong.  They discussed possibilities for the accounting/tax provider market in 5/10 years’ time and asked the EBM students to help them determine a strategy for the future that would allow them to stay true to their vision and values, whilst remaining fresh, relevant and of course, profitable in the 2020s.

After the session, Dave Gibson reflected, “It was actually a good opportunity to do a bit of navel gazing and work out what we might want to ask, and hear, in the challenge.  The questioning between our presentation and the student responses was particularly interesting, as it demonstrated the thought processes the students (and hence our clients of the future) went through.” He went on to add, “It ticks the box for our CSR requirements.  We’re great believers in putting something back in, and this feels like a good way of doing so.  Longer term of course, I hope it generates some business relationships for us.  Finally of course, it was a very enjoyable day.”

Lucy Hatt, EBM Programme Leader added, “Dave Gibson’s helped a number of our students with financial support already and today was no exception.  Sometimes it’s easy for our students to neglect the constraints that all sole traders and self-employed people need to operate within and this served as a really excellent reminder.  We were delighted to have the opportunity to offer him and Arthur some ideas in return that might contribute to the success of their business moving forward.  Well done to Kaizen who were chosen as the winning team”

 

Lucy Hatt 2017