Brainstorming to Business Growth

After returning from the UK Space Conference in Glasgow we promised ourselves we’d start to write weekly blogs and so before that becomes a ‘never’ item I felt I ought to get going (for those who’ve not come across Ray Higdon, network marketing specialist, he advocates replacing sometimes and someday with never as a way to avoid procrastination).

During my presentation in Glasgow (slides) I set out my aspirations for our company; turnover of £5 Million and 30 employees within 5 years. A huge challenge and not something to approach lightly, but to quote Richard Branson ‘It is only by being bold that you get anywhere’.

Our aim aligns with the wider aspirations of the UK Space business sector defined in the updated Space Innovation and Growth Strategy (IGS); for the UK to have 10% of the world’s Space market by 2020, which needs year-on-year 8-9% growth. Andy Green (President of UK Space) suggested this needs to be achieved by a five-fold increase in the downstream sector (£8 Billion to £37 Billion) and tripling in size of the upstream sector (£1 Billion to £3 Billion).

Pixalytics is in the downstream sector, which is the development of applications to use satellite mission acquired data, rather than building and launching the satellites themselves. Although I do fancy owning a cubesat and I’ve personally invested in the crowd funded ARKYD Space Telescope.

We had our first brainstorming session on how to develop our business. A not unsurprising conclusion was that growth requires manpower and that requires finance; especially cashflow stability. So to grow, we need to invest and in a loop back to my presentation – do we do this through retained profits / shareholder loans or seeking external investors? At present it’s still probably the former as finding a suitable enlightened investor is a big ask in the current climate. Although crowd sourcing finance has already demonstrated it can fill that gap when the general public get behind a great idea.