“But the truth is, it’s not the idea, it’s never the idea, it’s always what you do with it” Neil Gaiman Author
Our region has a long history, and strong positive conditions for entrepreneurship however understanding the process of commercialisation and scaling businesses for growth in the current climate can be a significant obstacle.
Whether you have been in business for years, or are just starting out, we all have moments when we come up with an idea that just might have legs. Taking that idea from that point to determining whether it has traction and can create value is enough for most of us to leave our ideas just there. And even if we do take it that one step further, finding a way to navigate through the complexity of commercialisation processes is no mean feat.
As Fremantle contemplates its new future – as potentially a Port City without a container Port – generating successful new ideas and ways of doing business becomes paramount. We were so fortunate last week to have with us in our Set the Month in Motion podcast forum, sponsored by the City of Fremantle’s Business Building Capacity program, a panel with an extraordinary depth of leadership in the success, pitfalls and innovation pathways across businesses large and small. I sincerely thank Sheryl Frame – Director, EDICT International Consultants Pty Ltd, Scott Vilé, Principal and Head of our Engineering & Technology Group, Wrays, Phillip Kemp – Chief Executive, Business Foundations Inc and Helen Barratt, Commercial Lawyer, Frichot Lawyers
The panel finishes the podcast by each providing a question that would be the one question they would ask anyone with an idea they are attempting to commercialise. Such relevant questions for anyone in business:
- What is the problem you are trying solve?
- What is the true size of the market?
- Is the market ready? Is your timing right?
- Where are you at right now? and Where do you want to go?
- Are you brave enough to take the leap, with enough energy to keep pushing forward?
The podcast is well worth a listen on the link below. Next month we will be deep diving into the creative industries and exploring how to maximise opportunities in film production.
Finally, the Fremantle Business Awards 2021 nominations close July 30. The judges are lined up and awaiting the entries. The forms are clear and simple with only 5 questions – make sure you get yours in STAT!
I can’t wait to see what incredible ideas we will be celebrating this year.
For this week’s Chamber Weekly, read more here.