Determination, risk and control: The secrets of entrepreneurial achievement

August 2007

Left to right: Dr Rauchberger, Professor Birrell, Ms Jarman and Dr Morgan

Monash University alumni shared the secrets of their entrepreneurial success at a recent Gearing for Success professional development seminar at Federation Square.

The panel of young achievers, including Helen Jarman (BEc 1996), Tim Morgan (BPharm 1992, BPharm(Hons) 1995, PhD 1999) and Lior Rauchberger (MBBS 1997), agreed that being focused and committed, taking risks and being in control of decision-making are the key ingredients of business success.

Managing Director of logistical solutions company Infoactiv Group, (Ms Jarman) said she has developed thick skin over the years, despite the challenges she faced in a male-dominated industry.

“When I walked into meetings, people would crane their necks to see who else was coming in. Generally, you overcome that,” Ms Jarman said.

Executive Director of Urban Intelligence Dr Rauchberger moved on from his career as a doctor to pursue an entrepreneurial venture.

“I really didn’t want to leave medicine. I stood over the cliff for a long time and looked down. It was a bit scary … but to be an entrepreneur, you have to jump off that cliff,” he said.

Executive Director of Lachesis Biosciences Dr Morgan agreed with Ms Jarman and Mr Rauchberger on the importance of having an exit strategy. He emphasised the need to have control over important business decisions.

“Make sure that as a company founder you have input into the major strategic decisions,” said Dr Morgan.

Moderator Professor Nick Birrell likened the above alumni to ‘serial entrepreneurs’, who enjoy moving from one venture to the next and are sought after by venture capitalists because of their track record of success.

Links:

• Gearing for Success - August 2007: Photo gallery
• Monash Research Month seminar: From seed to success - growing wealth through research commercialisation. Presented by Professor Nick Birrell.