Trouble and Strife

23rd April, 2009 by Brita Frost

As part of a monthly series on design business at Suite 7, RMIT's Entrepreneur in Residence Marcus Powe took some time to give us some more thoughts on innovation and development, particularly in light of the current economic crisis. Here's what Marcus had to say:

The entrepreneurial process is opportunity driven. It is about doing. It is about remembering what it was like as a child to ’play’ with ideas and have boundless energy to make things happen. As a designer, can you assess whether your idea remains just an idea or indeed becomes an opportunity?

I would like to introduce you to the first of many tools of innovation. They are used to determine whether or not your idea may be the basis of a great commercial or social opportunity. The Tools of Innovation will reveal many opportunities that often challenge your comfort zone, while at the same time enhancing your ability to succeed.

If you have seen horses racing you may have seen them with blinkers on. Race horses wear blinkers to give them tunnel vision, and when it comes to business many people have tunnel vision as well. Horses wear blinkers that keep them
focused on the finish line. The problem is that if you can only see what’s in front of you, you’ll miss those things on your periphery. Many ideas turn into opportunities and then are turned into reality by men and women who are creative, they have the ability to make connections in the market or organisations that others can not see.

The danger of having blinkers firmly in place can’t be overstated.

You won’t see the driving forces. These are the environmental forces that can create and destroy business opportunities instantly – their impact is certain, total and uncontrollable by the individual or organisation. These include political, economic, social, technological, environmental and global changes.

Marcus is the Entrepreneur in Residence at RMIT University where he works with staff and students to refine and develop their ideas and business opportunities. In 2008, Australia’s Business/Higher Education Round Table recognised Marcus’ contribution with the award for Australia’s Best Entrepreneurial Educator.

above photo by JISC infonet.

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