Off To Market™

Hamish speaks with Helen Brown from Living Spaces™ about Interior Design and what people should be thinking about if they need to ‘work from home’. Helen’s design philosophy is “You are the living expert on you and your life”. Helen talks about the misconception that interior design is simply about what the designer thinks will look good. Although aesthetics play a vital role in the process, it’s imperative that the interactions people need to have within a space are carefully determined. Helen works with both commercial and private clients. Please contact Helen if you would like to discuss your next project or to book a consultation. Helen Brown | Living Spaces™  0406 544 702 helen@livingspaces.com.au  www.livingspaces.com.au 

In this episode, we introduce David and Stewart and their company New Venture Australia.  Stewart Gow and David Cotton are long term Investors and Serial Entrepreneurs. They have held many successful roles in many different areas of the business world and have been kind enough to offer us the opportunity to tap into their lifetime of experiences to bring you some golden nuggets of information about how to successfully raise funds, run your business and succeed as an entrepreneur. If you have any questions for either David or Stewart their contact details are; Stewart Gow 0403 310 520David Cotton 0424 025 209 http://www.newventuresau.com  

Advances in design technology allow the inventor to get their hands dirty sooner; however, as you’ll learn from Scot, technology can also hinder your progress. There is a tendency to go straight to CAD without pushing a design concept on paper first. The reason for this is that you need to ‘fail fast’ and ‘fail early’. Hand sketching allows you to do this faster. You have to keep in mind that CAD is also intangible. In the early stages of exploring a concept, it’s better to construct a rough prototype. The ability to feel and test your idea is highly effective when it comes to problem-solving and creative thinking. It’s all about failing fast and cheaply. Spending hours on CAD only to find significant problems with a prototype will not only be disheartening, but it will also set you back financially. Get your concept right first, and you’ll be off to market sooner. If you have any questions about concept design or CAD please email Scot: scot@f3id.com Please share this episode with someone you think would benefit from these tips.  

Cashflow and planning are at the crux of what Scot talks about this week when it comes to staging your project. A critical question you must answer in determining your launch strategy is are you going to partner with a distributor or are you going to take on the task of selling the product yourself. The point Scot makes is that you can’t be all things to all people. During the discovery and design phase of the project, you may have identified several different markets where your product can help. However, the financial reality is you need to choose a market and stick to it to generate cashflow. As an entrepreneur who is close to your project, of course, you can see how your invention can help half the world. The marketing energy required to educate and convince a single market, let alone half the globe will be enough to keep you occupied for months, if not years. Success for the inventor and entrepreneur is often the result of many small victories. You must have lofty goals, but you must generate small wins first. If you have any questions about the content in this episode, please email: hamish@hamishchadwick.com  

We talk with HR expert Mark Thomson from True North™ about building and managing teams. Mark draws on his 20+ years of experience to offer advice for entrepreneurs and founders who are growing their businesses. Some of the areas covered are: How do you create and maintain a positive dynamic with a team How does it ‘go wrong’? (what are the warning signs to look out for). What sort of impact can bad people management have on a business? Tips for interviewing candidates Should Founders become General Managers? If you have any questions regarding HR or recruitment, please feel free to reach out to Mark: Mark Thomson Managing Director | True North™ Call: 0405 415 917 mthomson@truenorthsolutions.com.au www.truenorthsolutions.com.au Connect with Mark on LinkedIn https://www.linkedin.com/in/mark-thomson-16617a2/  

Perhaps a little 'off-topic' for Off To Market, but perhaps not when you learn about the latest cybersecurity threat that is spreading around the globe. Entrepreneurs, business owners and inventors invest so much money and effort into developing products that you have to be aware of the devastation that a software virus can have on your business. The potential to lose your critical IP is real so we think it's vital that you arm yourself with as much knowledge as possible. For more information on the topics covered in this episode go to https://www.avantiacybersecurity.com/    

Conventional Brand or Identity Guidelines are over-sold by some agencies as a must-have deliverable that will save your brand from the perils of inconsistency. However, if you’re commercialising a new product or service are they ultimately a useless document that will end up in your bottom drawer? Markets move very quickly and customers’ needs can also change rapidly. Promotional opportunities and marketing platforms are constantly evolving. We argue that there’s a more effective approach to managing and building your brand. Want us to cover a topic? Do you have a question? Please email our Off To Market™ Listener Liaison Officer, Hamish: hamish@hamishchadwick.com P.S. we changed the intro music again... #podcastlyfe  

New year, new music and a new digital audio recorder! Yes, we’ve ditched the smartphone for a Tascam. But as always the focus is on the content, not shiny gadgets. The first episode of Off To Market™ for 2020 is about what it takes to be an entrepreneur. It's never a straightforward journey, but it can be highly rewarding if you focus and ensure you look after yourself. Scot speaks from personal experience and highlights the need to plan ahead and put family first. Hamish talks about how to use advice and to trust your gut instinct. Want us to cover a topic? Do you have a question? Please email our Off To Market™ Listner Liaison Officer, Hamish: hamish@hamishchadwick.com Connect with Hamish on LinkedIn: https://www.linkedin.com/in/hamishchadwick/ Connect with Scot on LinkedIn: https://www.linkedin.com/in/scot-farley-82082013/

Scot talks to Hamish about how inventors work with Industrial Designers and how this critical relationship works to determine commercially viable products. Some of the topics covered are: The design brief Philippe Starck’s lemon juicer Hourly rates and fixed fees The disconnect between design & commercial outcomes Ego and projects Why it’s best to fail early Scot’s hot tips for inventors! If you have any questions or would like us to cover a specific topic please email Hamish: hamish@hamishchadwick.com  

Hamish talks to Scot about the importance of having a plan to build mindshare when launching new products. Marketshare is the result of building and maintaining effective mindshare. Listen to find out more. If you have any questions, email Hamish direct: hamish@hamishchadwick.com  

Hamish and Scot were privileged to speak with Sarah Barnes who gave us an inside look into how she and the team at Transitional Level Investments work with tech startups. Transition Level Investments was founded by Steve Baxter (Shark Tank). Transition Level Investments backs early-stage startups from angel through to Seed rounds, and connect sophisticated investors with VC-grade, screened investment opportunities. Sarah was kind enough to recommend the following resources to our listeners: Send us your pitch – www.transitionlevel.com/pitch http://theleanstartup.com/ (recommended reading for any entrepreneur) Where to go to get help: River City Labs. https://www.rivercitylabs.net/ Fish Burners. https://fishburners.org/ Startup Onramp https://www.startuponramp.com/ (Great program run by Colin Kinner & Nick Shewring)

Hamish has a fascinating chat with the very talented Allan Morris about everything from Boards to branding. Hamish asks Allan his advice and perspective on what he has seen ‘in the trenches’ that will help the inventor and entrepreneur understand what it takes to maintain a successful business. Allan has extensive international experience in multi-nationals, across retail, consumer goods and tourism industries. With expertise in strategic financial management, M&A, capital raisings, project management, organisational transformation, IT implementation, audit, financial analyses and financial reporting. If you would like to contact Allan please connect with him via LinkedIn: https://www.linkedin.com/in/allanjmorris  

Scot and Hamish talk with Angelo Coco from Invention Pathways about fundraising. Fundraising is, unfortunately, an area where many projects fall short or worse, fail. Angelo discusses the different options and strategies available to inventors and entrepreneurs.

Belinda talks about Brand Archetypes. A fascinating insight into how to structure your brand.

Scot and Hamish talk with Jagdeep Jalota from Invention Pathways about how to structure your business so you can take advantage of the Federal Governments R&D incentives with Tax Rebates. Did you know the Federal Government has $137.9m in the budget set aside for R&D grants? If you’re in the process of developing or commercialising your idea then you need to listen to this podcast. If you have any questions about accessing R&D grants and the associated tax rebates, please contact Jagdeep at Invention Pathways: https://www.inventionpathways.com.au/

Scot and Hamish have an enlightening conversation with Angelo Coco from Invention Pathways about how inventors and entrepreneurs should structure their businesses not only to protect their assets but to be eligible for substantial R&D Tax Rebates from the Federal Government. Angelo also gives us insight into how the rules have changed to allow inventors to use Social Media and Crowdfunding to help finance the design and commercialisation of their idea. If you're an inventor or entrepreneur you'll want to listen to this episode. For more information on the topics covered in this episode, we encourage you to visit the Invention Pathways website: https://www.inventionpathways.com.au 

Hamish goes into the finer detail of how to create, choose and think about the subject of product brand naming. Some of the topics that Hamish discuses with Scot are over-creativity, the naming brief, how to choose a name, trademarking, how to manage availability, and what makes an efficient and marketable name. To download Hamish’s (Free) Brand Name Scorecards™ PDF go to https://www.hamishchadwick.com/name-creation

Scot has an interesting conversation with Belinda Vesey-Brown about Neuromarketing.

Scot talks with Belinda Vesey-Brown about business and branding.

Hamish explains what the three types of Brand Structures are and why it’s important for the entrepreneur and inventor to decide which structure will benefit them most before going to market.

Scot is madly passionate about invention and he explains why a large number of patents originate in Australia and New Zealand.

Hamish and Scot talk to OH Marketing’s Creative Director, Michelle O’Hara about marketing strategy, social media and marketing trends. Michelle was very kind to impart her knowledge and advice that will help investors and entrepreneurs navigate the complex world of marketing strategy. You will gain an understanding of the various marketing platforms that are needed to get your message in front of your market. If your current marketing strategy is either based on ‘hope’ or using a ‘scattergun’ approach, then you need to listen to this episode.

Scot explains why simplicity is the key to not only a great functioning product, but it’s also the best way to protect your idea and most importantly, your business profits.

This week Hamish and Scot talk about using professional service providers as part of your entrepreneurial journey. Are they a cost or an investment? As you’ll hear from Scot, the benefit of using his services is not just great product design. As an industrial designer, he can allow you to access R&D tax incentives as well as a wealth of knowledge around tooling, cost control, and how to design a product to ensure you can maximise your profit. Hamish talks about why the relationship between the entrepreneur and the service provider has to be a level playing field. Hamish explains why the term ‘service provider’ is not ideal because of the relationship to work both parties have to be ‘peers’. Hamish offers some interesting perspectives on the working relationship and why as an entrepreneur it’s vital that the people you engage for your project offer ‘pushback’. If you’re not being challenged, are you getting the best value?

We discuss brand culture and the role it plays in both product design and carving out a position in your marketplace. Scot talks about how product design can influence brand culture, and explicitly how decisions made during the design phase can either contradict or conform to a businesses corporate identity. Hamish discusses the intricacies of determining and upholding a brand culture for both products and service businesses. He talks about the need for organisations to go much deeper than the visual brand to build a profitable organisational culture.

Scot and Hamish talk about why videography is vital to the entrepreneur and inventor when it comes to selling an idea and product to investors. Video is a potent medium as it allows you to convey why an invention is useful and saleable within a short timeframe. Scot and Hamish share their experiences and advice when it comes to working with a videographer to get a result that will help you obtain investment funding or sales.

Paul Nielsen is with us again this week to discuss one of the greatest threats to your business. Paul explains what the most significant cybersecurity threats are for your business this year and what the emerging threats will be for 2020 and beyond. Paul trained at Harvard University and is a certified cybersecurity risk advisor. Cybercrime is big business globally. The current estimates are that by 2023, cybercriminals will take 1.4 Trillion Dollars from the global economy. Having a cybersecurity strategy is not just a concern for big business. If you are an entrepreneur, inventor or start-up, a security breach could cost you your entire business and reputation. Paul offers pertinent advice on how you can minimise your risk and exposure to cybercrime.

Scot and Hamish talk with Paul Nielsen again this week on the intricacies of how to determine the value of your business. Learn the difference between the Discounted Cashflow (DCF) and Capitalisation and Future Maintainable Earnings methods of valuing a business. Should you use an accountant to value your business? Paul explains why some traditional methods of valuation may result in you leaving money on the table when you sell your business.

This week Scot and Hamish talk to music educator and the inventor of BuzzBuddy™, Lisa Holownia. Lisa tells us her story about the BuzzBuddy™ from prototyping all the way through to getting the product on the shelf and being sold around the world. 

Special guest, Paul Nielsen talks to us in detail about how to set up a company to make it attractive to potential buyers.

This week Hamish explains how to get yourself organised with the five critical elements of your marketing; Time Reach Message Offer Money Hamish talks about why it’s important that inventors and entrepreneurs don’t fall into the ‘exclusivity trap’.

Scot was in Townsville, Queensland recently and caught up with Terry Hurlock who has been an IP advisor for over 50 years. Terry has a wealth of knowledge of inventions, entrepreneurialism, patents and helping inventors to commercialise their ideas. Learn why some ideas don’t work, why some never get off the ground and why they fail. Angelo Coco talks about the progress being made with funding for inventions. A fascinating and informative episode. You’ll want to bookmark this one.

Patent expert, Regan Gourley joins us to explore the fascinating world of patents. We ask Regan to explain what sort of products can be patented, when it’s not appropriate to patent as well as exploring some of the myths around patents such as the ’10% rule’. You’ll also learn about intellectual property laws in China and the Chinese IP Police. A hugely fascinating episode that every inventor and entrepreneur will benefit from.

Scot and Hamish discuss some of their client’s experiences with manufacturing. This is a fascinating episode for anyone who will need to be involved in manufacturing a product as part of their commercialisation strategy. Other topics include: Tooling Manufacturing in Australia Manufacturing in China & other countries Costs Quality control Choosing reputable manufacturers

This may seem to be a self-indulgent episode, however, I think that if you're interested in producing a podcast you might find this interesting. 

Hamish and Scot discuss the tactics, considerations and pitfalls if you decide to take on the task of marketing your unique product on your own. We talk about finding existing marketing channels that you can take advantage of and why it’s vital to market ‘proof’. A marketing message is only as good as the product itself in the end. In the early days, you need to show people that your product is proven to work, function, and provide results. And to prove that what we’re talking about actually works, Scot talks about a client who used these approaches to be able to quit their job and hire five staff. If you think you can find a better podcast about commercialisation - prove it.

The art of separating money from investors and customers, tales from the trenches and common sense advice for entrepreneurs and inventors. Hamish and Scot discuss more of the intricacies of the commercialisation process. They provide more detail on what they touched on in the first podcast on commercialisation, and more importantly, they share war stories from actual client projects. Listen and learn.

Scot asks Hamish to explain what messaging is so the listener can begin to understand how to manage it. Hamish outlines the two primary messaging problems products and companies can have and how that can diminish your brand and your sales. Hamish details a recent experience at a trade show that highlights one of the most critical messaging problems which is unnecessary complexity. Hamish explains that creating a simple message is the key; however, the task of creating a simple message is quite a challenge.

Prototyping is a vital part of the development process, and we discuss why they are necessary not just as a proof of concept. Prototypes are essential if you want to approach investors as 2D sketches and even 3D models will not typically impress the people you need money from. Scot explains how prototypes can be used for testing your theories, giving ‘life’ to a design, raising funds, and can be used for marketing purposes. We discuss the costs involved in producing a prototype and the different materials used. Scot talks about how he used a $2 teat from the chemist to revolutionise the packaging industry that has saved billions in litres of waste liquids. Hamish discusses the use of prototyping in marketing material and how you can use digital modelling, however, there’s no substitute for tangibility.

Scot talks about setting up your venture for national and international sales and distribution. We discuss the various roads to take to market. Do you sell the product yourself, use a distributor or approach a multinational? Are you aware of the different hats you need to wear as an inventor? Hamish and Scot talk about their experiences in working with inventors and entrepreneurs and some of the pitfalls you should avoid. Hamish talks about the varied audiences that you need to sell to - not just your target customer. Hamish talks about price and the perception of value when you add on the cost of postage and delivery. Hamish explains why your price strategy is a critical part of your brand messaging. Scot talks about why Australia is often a test bed for multinational companies developing new products. Scot and Hamish try not to politicise the podcast by talking about the risk of entrepreneurship and if it’s any less safe than having a nine to five job. Vote 1 Off To Market™

Scot thinks the subject of engineering is a tad on the dry side, however, as you’ll find out there’s quite a lot of interesting points you’ll need to consider. Scot explains CAD and why he prefers to hand draw concepts before utilising CAD. Hamish and Scot discuss how the ‘feel’ of a product is considered before manufacturing and is incorporated into the design phase. The physics and dynamics of how a product feels when it’s picked up or used are crucial for product positioning and price expectations. Who knew binocular grease could make a product more exclusive? Designing the product to be sold. We talk about why some parts of design exist to improve the look of a product which does nothing to enhance functionality. Scot talks about the role of 3D printing in design and manufacturing, and why people assume it’s the future. We discuss the concept that you are always selling what you’re doing with each step of your journey to take your idea off to market. You first sell the idea to yourself, then you sell to people like us who will help bring your concept to life, then you sell to investors or financiers, and then finally you sell your product to customers. We both cover some interesting points on what you can be doing at every phase in the project.

Hamish talks to Scot about how to develop and choose product names. We also discuss brand strategy and the role that visual and verbal branding plays in successfully taking a product to market.

We’re now at the design stage of product development. Now we know there’s a market need, our job is to satisfy that need. Hamish and Scot discuss the creative process and why we often have ideas at 2 am. Scot talks about taking a design to the relevant industry body under a non-disclosure agreement to get appropriate feedback for a project to ensure its viability. Hamish talks about the need for objectivity during the entire development process. The best feedback will always be from people who are knowledgeable and impartial. Too much praise can be detrimental. Scot explains the difference between an idea and an invention. Shameless Promotion: Scot explains how Hamish helped him with his own product ‘Klik Sinkers’ to reposition the product for more sales and justify a slightly higher price.

Scot talks about working with clients to determine if they want to move forward and embark on the fun and adventure of developing a new product. He talks about his approach to research and how to define what the market needs are and how to mitigate the inventor's risk. Hamish talks about the background work involved in developing brands and names for new products. Find out why a pragmatic and cynical approach is best to ensure success. Show me the money! We discuss marketing as a tool to create need and position a product to assist in consumer purchasing and pitching to multinational investors.

The theme of this episode is 'Getting Yourself Organised'. Scot talks about product and patent planning, and Hamish takes a philosophical view of what is needed on your journey to commercialising your idea. Scot discusses one of the most critical points in the commercialisation process which is helping clients to establish a budget and looking at the different costs involved. Learn how to avoid getting on a ‘cash rollercoaster’. You’ll find out about the three approaches to commercialisation; licensing, distribution or retail sales. Which one is best for you? Learn about patent strategy, is your idea worth protecting immediately or do you need to do more work on your concept before you spend thousands on patent applications. Hamish talks about the need to establish a support base for yourself and to make sure you schedule in enough downtime away from your project to enhance your creativity. Hamish explains why time away from your project will ultimately benefit your business. Listen to find out more.

Hamish and Scot talk about the journey of commercialising an idea from concept to shelf. We cover the costs involved and the process of validating an idea. Scot explains the role he plays as an industrial designer and Hamish outlines his approach in the early stages of commercialisation. Product development is certainly not for the faint-hearted, however, Scot and Hamish reassure listeners that with the right approach and the right advice, commercialising an idea can be one of the most rewarding things you can do. Both Scot and Hamish explain why they’re brutally honest with people from the outset and their willingness to say whether an idea may or may not work. Is it better for you to spend your money on a holiday? Listen to find out more.