How do Innovators Innovate?

WHAT MAKES INNOVATORS INNOVATE?

One of the most valuable parts of the Seedlab programs for our participants is the opportunity to talk with industry heroes about their journey, and hear their advice for starting, scaling and growing successful businesses.

Dr Tamsyn Murray and Josh Murray are the founders and owners of Josh’s Rainbow Eggs, based in Victoria. Tamsyn and Josh shared a vibrant “warts and all” discussion about the challenges they have faced, the vision they have for their business growth, and how they approach everything: from who collects the eggs to how they produce chocolate eggs. Their raw and honest discussion had a profound impact on our Seedlabbers.

SUCCESS IS NOT LINEAR

Industry heroes like Michael Fox of Fable Foods, who shared the story of Fable Foods arising almost like a phoenix from the ashes of a previous business, based on learnings he had made. Michael also illustrated laser-like focus on the consumer and their pain points, when developing new products. It was stellar!

Michael’s story reinforced that success is not linear; we try things, we learn, and we grow. Listening to your consumers provides valuable insight when you are developing your products.

Spending time with innovators, entrepreneurs, and successful business founders like Michael, Tamsyn and Josh, enables us to see the many similarities between them. This helps us identify traits that are key to success, and ensure that support for these requirements fills our Seedlab programs.

WHAT VALUES LEAD TO SUCCESS?

So: what do our industry heroes have in common? Here are just three of the things that come to mind:

Having a big dream (and the tenacity to see it through).

A dream. Big picture thinking. A burning passion. It keeps them awake at night. It makes them get up early and do more. It makes them take risks, and invest time, money and above all: energy. It makes them determined. Focused. Whatever you call it, successful founders most often possess a big vision and have the tenacity to see it through. A big, heartfelt dream is the rock to come back to. A person with a passion and a sense of purpose to create an income for themselves and their families by doing what they love is someone who can touch hearts and inspire consumers to purchase, and get supporters to back them.

The level of detail was incredible and spoke to the lesson of watching and listening to the customer in their own environment. A solid lesson in building a strong market fit by understanding your consumer.

Tania | East Forged

2. Storytelling the journey (bringing others along).

The ability to share a story is a skill that comes naturally to some people, and can be learned by others. The importance sharing your story cannot be overstated for anything – from raising investment to making a sale to an individual customer. It’s critically important for media relations and for being part of your community.

“What a brilliant session. It really made me think about the importance of telling your story and points of differentiation in the market place. Michael entered a competitive market with many big players but Fable’s focus was providing a better, healthier alternative that delivered on taste and flavour without compromising on ingredients, something I really resonate with.”

Loredana | San Elk

3. Being a leader of people (empowering others).

Being a leader of people (empowering others). As important as the dream and the ability to share it is, there is no doubt that if you are going to build a big business, you are going to have to possess, or acquire, the skills to lead people and scale your empire. Know how to ask for help when you need it, and find people you can trust to supply that advice. Learn how to put procedures and processes in place to ensure the people around you feel empowered and enabled to build with, and for, the business.

If you don’t know who you are – the world will tell you. Be a gladiator, be fierce, determined and brave. Relationships matter. People want to identify with a person not a company. Tamsyn’s questions for when you hire someone. Identifying what do you hate doing and are not good at; what do you hate doing but are good at; and what do you love doing and are good at? If you are visiting a store, have a good reason for going, and ask questions rather than telling people things. What is the business that makes you most excited? Remember: we feed people!

Jacqueline | The Sunday Baker

Turning Dreams into Realities

Entrepreneurship is not for everyone, and the burning desire to become an entrepreneur cannot be taught: it comes from having a big dream and the sheer tenacity and focus to make it happen. For those who are up to the challenge, it can be a vehicle to deliver a meaningful, fulfilling and rewarding career. With the right mindset, skills, and support, (almost) anyone can turn their dream into a successful business. Whether you are a seasoned entrepreneur, or just starting out, remember to take time to refocus on the dream, to share it with others, and to empower your team to build with you.

Oh! And check out Seedlab Australia – this program will help you on your journey!

KNOWLEDGE IS POWER

With thanks to Tamsyn, Josh, and Michael for sharing their insights into the deeper aspects of scaling a business, overcoming the challenges, and reinforcing the importance of connection with peers and consumers.

Having the opportunity to help new founders on their journey is amazing. We love that we are aiding in the success of great businesses dedicated to making our world a better place. Josh and I always come away from our talks with Seedlab inspired and energised.”

Dr Tamsyn Murray | Josh’s Rainbow Eggs