Having a peak time at Peaktime!

by Dan McGuire - Thursday, 8th May 2008 - 6 comments

As I write this, my first column for Real Business, I am sitting on a tiny propeller plane from Riga to Vilnius hoping my connecting flight to London won't go without me. (Special mention must go to the inept fools at Ryanair who left me stranded in Latvia with no help on how to get home).

I have spent the last three days with my fabulous hosts in Riga at the Peaktime international business competition for under graduates. Now in its ninth year, I was unsure exactly what to expect. Keen to see how business and entrepreneurship was being promoted in the Baltics, I was intrigued to meet the participants.

Based at the Stockholm School of Economics (the Swedes funded the joint Swedish/Latvian venture back in 1994), I was greeted warmly by the organisers (Sauliusz, Rusmans, Danielus and the team) who, to my surprise, were only second year students themselves.

I had been under the impression I was dealing with lecturers, not teenagers!

The five day event involves 20 teams of four from around the world, as far flung as Canada, Hong Kong, Singapore with a heavy Baltic and European contingent. Each team had to win a competition in their own country to make the final in Riga.

I was asked to open the event with a "guest lecture" about my experiences of running a business at a young age. The reaction was superb - a lively, highly intelligent group who asked insightful questions in the Q&A.

This was the most I have ever enjoyed giving a speech - and I speak in public a lot.

The energy and passion for business in the room was immense. What impressed me even more than the excellent participants was the way the event was organised and run.

Six young people took this project from start to finish whilst working around their own degrees AND running a small, successful, award winning advertising business from their university campus.

They raised over £20,000 in funds through pledges and sponsors, marketed to universities worldwide and convinced the teams to spend huge sums to get to Latvia.

Over the two days I was there they ran exactly to time and managed the incredible feat, through two hours of ice-breaking activities, of getting 80 people from different countries who'd never met to become the best of friends.

Everyone was clearly enjoying the occasion. Not least when each team’s two minute introduction videos were played, they cheered and clapped like they'd just seen a sensational Oscar winning performance.

If my short time there is anything to go by, the Baltic states have some real winners in the making at SSE, not to mention each of the countries represented.

For my last night the current organisers (they do one year only) and their predecessors took me to "The French Bar", their favourite haunt. They really proved SSE's motto of "work hard, play hard"! They insisted I drink at least 12 of their favourite Apple Pie shots and I was feeling somewhat delicate five hours later when I had to leave for my non-existent flight.

Their mission, I was told, was to get me drunk as a thank you for speaking earlier in the day. They succeeded.

Thankfully no Real Business snappers were there to catch me in the moment - I know they would have loved that!

It was the perfect cap to a perfect trip - i was surrounded by happy, intelligent, driven, focussed, innovative people - some as young as 18 - who I'm absolutely certain will go on to experience huge success in the future.

Peaktime epitomises entrepreneurship and everything it stands for.

There was just one question on my mind as I left - where was the UK team?

Picture source

6 Comments

May 12, 2008 4:08am
Alice Pang Says:

As one of this year's participants, Peak Time was definitely the highlight of my year. Never have I been to a competition where the participants are so enthusiastic, the guest lecturers so insightful, and the organizers so passionate. Coming home to Canada I feel inspired and motivated by this competition. I highly recommend everyone to get involved with this - in any way possible - and see for yourself how valuable Peak Time is!

May 11, 2008 4:38pm
Severin Matten Says:

Having been one of the fortunate participants of the Peak Time 2008 competition, I would like to add some points that go beyond the impressions Dan gathered. First of all, this competition was the best organized event I have witnessed so far. The organizers accomplished their goal in setting up a great competition and succeeded in attaining a diverse group of students as well as jury members. Garnished with guest lectures and many opportunities to socialize, we were exposed to challenging tasks in the course of the competition. Starting with the complex Cesim simulation, students moved on to real business cases while time pressure constantly increased. The finals were held with a large audience and all finalists gave their best in convincing the jury but also all participants. Fortunately, my team arose from this ultimate tests as winners so that we have the chance to play our part in next year's competition. Looking back at the days in Riga, there is no chance that any of us will miss this unique chance and experience. If you might read this as an eligible undergraduate student, mark Peak Time 2009 in your calendar!

May 11, 2008 4:33pm
Bastian Steinbach Says:

I could not agree more with Dan. Peak Time 2008 was as much a thrilling and exciting social event as it was a tough and demanding challenge for the participating teams. 20 teams from all over the globe met in Riga to play hard and party even harder. Arriving from Canada, Singapore, Hong Kong, Australia, England and many different countries of continental Europe, the four days in Riga transformed the diverse group into an unique Peak Time community. The competition lasted three days including the finals. Starting off with a complex online simulation the teams had to show their ability to manage a multinational company in a highly competed market. The semi finals and the final presented the remaining teams with challenging case studies which needed to be analyzed and a solution to the particular business problem had to be presented in front of a jury. The complexity of the cases and time pressure pushed the teams to their limits and beyond. Sound solutions with vision and creativity were presented to a top-class jury. As Dan already pointed out, not only the standard of the competition was incredible high but the event as a whole was perfectly organized. The supporting activities such as the guest lecture by Dan himself, gave the event a unique and stunning taste. The gathering of around 80 motivated and bright young students created an intense atmosphere and energy. Inspired by Dan and others, Peak Time 2008 was an unforgettable experience that blessed me with many new insights for my personal development, important knowledge for my later career and, most importantly, a whole new community of friends. Thank you Dan for enriching that experience and thank you again to the organizers and other participants for creating this extraordinary event!

May 10, 2008 5:10pm
Ruslans Kalvāns Says:

Peak Time gathers best minds worldwide. In 2008, having more than 1600 applicants initially, in 2 selection steps Peak Time invited 80 most competitive and potential students to come to the finals in Riga.

May 10, 2008 12:06am
Ruslans Says:

On behalf of all participants and SSE Riga students - thanks a lot for the time You spent with us and brought so much of enthusiasm and inspiration into Peak Time 2008. You did a great job Dan .. best lecture I have ever heard.

May 09, 2008 9:40pm
JJ Says:

Hope Dan was ok after the great "thank him" party in "The French Bar"... :)

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