Presenting the latest news, highlights and projects from the College of Business.

PARTNERSIN BUSINESS

Leading the Way Senior marketing manager Natalie Truong discusses the competitive edge RMIT’s MBA (Executive) has given her.

Welcome to the first edition of Partners in Business, a showcase of some of the best and brightest achievements from the College of Business at RMIT University.

Highlights and stories have been drawn from activities across the College including research, industry engagement and enterprise, International, learning and teaching. Partners in Business serves as a reminder about the number of ways alumni and industry partners can engage with the College.

In the spirit of enterprise, the College of Business has strengthened its partnerships throughout 2015. One such example is the introduction of innovative programs like The Prince’s Charities Australia Lead Your Own Business program, a tailored offering for transitioning Australian Defence Force personnel aspiring to start their own business.

In this edition, Natalie Truong tells us how she gained a competitive edge by completing the MBA (Executive), and Adjunct Professor Rob Hulls from the Centre for Innovative Justice discusses their highly anticipated family violence report. There are a number of exciting developments across RMIT’s entrepreneurial ecosystem, and on page 14 we feature one of them – the recently established New Enterprise Investment Fund (NEIF) for business start-ups.

I would like to take this opportunity to acknowledge and thank the businesses, organisations and professional bodies we work with for their longstanding support of the College.

Support for activities such as the annual College Prize Giving Ceremony that celebrates academic excellence and contribution to community and the Business Plan Competition are vitally important. Along with access to mentorship, work-integrated learning and cooperative student industry placements, industry engagement makes up an invaluable part of the student experience. It is this connection to industry that continues to ensure RMIT produces active and engaged graduates ready for life and work.

I am delighted to be able to share these stories of innovation and success from across the College and invite you to reach out and get involved as we continue to grow.

Professor Ian Palmer Pro Vice-Chancellor Business and Vice President, RMIT

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An entrepreneur is always on the lookout for business ideas, and Paul Rogash managed to find one in the most unusual of places. During his second year of a Bachelor of Business (Entrepreneurship) at RMIT, Paul decided to set up a media company, printing advertising film that would fit into a new but prominent space for advertising – escalator handrails.

“I saw some signs in a lift in New York, and I started thinking about what spaces would fit different target markets. Eventually I decided it was worth investigating escalator handrails.”

He started working on the idea while completing his degree, using many of the concepts he learned at university to build the business.

“The degree at RMIT gives a good background in terms of business planning and different aspects of business like marketing, finance, HR and so on.

“Some of the classes were especially worthwhile, like venture development – we had three or four mentors from different businesses come in and give us really practical advice about running a business,” he says.

But it was difficult to fund his company start-up while studying full-time.

“When you’re trying to start a company, nobody is paying you a wage – you’re out on your own. Then I received the Jacques Nasser Scholarship, and I also came second in the RMIT Business Plan competition. The funds really helped me with start-up costs for the business.”

Two years later, Paul graduated from university and by then had developed a product ready for the market.

“The Jacques Nasser Scholarship was instrumental in helping me set up the business. Scholarships and prizes provide an incentive for people – it encourages you to be innovative and to do different things, and shows that you get rewarded for it.”

Paul has returned the favour and has been a long supporter of the College of Business Prize Giving Ceremony.

“I was definitely keen to give back to current students through financial support and help current RMIT students get started in their business idea.”

Paul is currently based in West Hollywood, California, where he founded an online machinery marketplace, MachineSales.com and has recently started a new company, Lawyers SEO, which specialises in generating new business for lawyers and attorneys through improving search engine rankings and website conversion rates. ¢

A Head Start in BusinessA novel idea and a scholarship from business leader Jacques Nasser helped RMIT alumnus Paul Rogash kickstart his entrepreneurial spirit.

Read more stories about RMIT scholarship students online, visit www.rmit.edu.au/giving

Originally published in Building Our Future, republished here with permission.

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The RMIT College of Business continues to grow and strengthen its research capability to align and adapt to global business innovation. By combining capabilities, including people, infrastructure and networks, our goal is to deliver high-quality and high-impact research. The College’s approach to research consists of five interdisciplinary sub-platforms that reach across schools, involves researchers from other disciplines across RMIT and collaborates with some of the world’s leading organisations and educational institutions.

Originally published in Marketing Mag, republished here with permission.

Information design refers to all of the small decisions a marketer makes in presenting product information to the consumer. Consider a restaurant menu: while the chef decides the menu items, it is the marketer who decides how to design the menu itself. The range of design decisions is broad – it ranges from how to order and group the menu items to the size and colour of the menu item font. Good information design is important because it is the direct medium by which marketers communicate with consumers. Moreover, these design decisions matter, as demonstrated by a simple experiment.

Researchers based at the University of California, Los Angeles, invited a number of consumers to select foods from a menu. Some people were presented with a menu in which the foods were grouped in terms of “fruits”, “vegetables”, and “cookies and crackers”, whereas others were presented with a menu in which the same foods were grouped in terms of “fruits and vegetables”, “cookies”, and “crackers”. The researchers found that the consumers were much more likely to select fruits and vegetables when presented with the first type of menu than the second type of menu. Why? It turns out that people prefer to spread their preferences across the available categories. As a

result, simply rearranging the categories – redesigning the “choice architecture” – influences consumer preferences.

Effective choice architecture often presents information in a format that is easily processed. Generally, this requires an understanding of the goals that people are attempting to achieve as well as an understanding of their processing limitations. Imagine that you are at the grocery store and in the market for some Coca-Cola. The range of possible options is staggering: bottle or can? A two-litre bottle or a bundle of two one-litre bottles? In this situation, you probably have a goal of purchasing the cheapest product available but struggle to calculate which option is cheapest. The solution? Present price in terms of a single, standardised unit that is common across products of the same type (e.g., “price per litre”). Indeed, this is the concept of unit pricing, which became a mandatory industry code for Australian grocers in a 2010 Act. Unit pricing enables consumers to quickly compare products of different sizes and brands in order to work out which one offers the best value.

Converting one piece of information into another, such as moving from price to price per litre, is what I call making an information “translation”. Different translations are closely related to each other but each may highlight a unique aspect of

Focused on Research: How Marketers “Construct” Consumer Preferences

the same attribute. Imagine that you are browsing Mazda’s website contemplating what your next car might be. You’re probably considering many factors and one of them is fuel economy. In Australia, fuel economy is expressed in terms of litres per 100kms. Like the average Australian driver, you drive 100kms every few days, and you don’t directly care about the volume of fuel required to drive this relatively short distance. The fuel economy information is difficult to make use of and so you ignore it. After all, is the difference between the Mazda2’s 5.5L/100kms and the Mazda6’s 6.6L/100kms relevant?

Research that I have led shows that fuel economy can be made relevant by some simple information redesign. It turns out that consumers’ preference for a fuel-efficient vehicle increases when fuel economy is expressed as the cost of fuel over 100,000kms. This cost metric feeds directly into consumers’ cost-minimisation goal. Moreover, the large scale is helpful because it better aligns with the average driver’s lifetime vehicle usage. At present, only the US and New Zealand provide estimated fuel cost information on fuel economy labels. Forward-thinking policy-makers and managers concerned with promoting efficiency and reducing carbon emissions would do well to present relevant metrics on expanded scales.

People often assume that the mere presentation of information will be sufficient for consumers to act. For example, larger chains of standard food outlets in NSW must now display energy information in kilojoules (kJ) for their standard items on menu boards. The US Food and Drug Administration have proposed similar guidelines with calories. The aim of these policies is to provide consumers with relevant information at the point of purchase with the hope that this information

will lead consumers to make healthier food choices. Imagine that you are at McDonald’s deciding between a classic Big Mac and a McChicken. You notice the energy difference – 2060 kJ versus 1710 kJ – but of course this information is meaningless without context. What does a difference of 350 kJ mean? Indeed, examination of choice behaviour following the introduction of calorie information on menus reveals an unimpressively small decrease in the average number of calories consumed by consumers.

Other research suggests that alternative information designs are more helpful for consumers trying to make meaning out of calorie information. For example, one

study found that people selected a meal with fewer calories when the menu items with calorie information were ordered from low to high and colour-coded to signify poorer and better food choices. More generally, the traffic light system – red, yellow, green – on food labels has most consistently helped consumers identify healthier products.

Marketers have the power to help construct consumers’ preferences through information design. The

examples above reveal three general principles that marketers can take away. First, information should be relevant. This principle aligns well with the attitude of modernist architectural design that “form follows function”. In most cases, this involves understanding what the consumers’ goals are and then providing information that directly relates to those goals. For example, fuel economy labels in the US now include a Greenhouse Gas Rating, a score out of 10, which my colleagues and I have shown increases pro-environmental consumers’ tendency to prefer fuel-efficient vehicles.

Second, information should be simple to process. The concept of minimalist architecture is to strip everything down to its essential quality. For information design, this generally involves “doing the maths” for people and providing information that is useful in its presented form without need for further analysis. For example, Hipmunk, an online travel company, orders flight search results by an “agony” score, which is a combination of price, number of stops, and duration.

Third, different information formats should be experimented with. In many cases, it is impossible to accurately predict how consumers will respond to redesigned information and so the only sensible thing to do is to conduct an experiment and find out. As expressed by American neo-futuristic architect Richard Buckminster Fuller, “There is no such thing as a failed experiment, only experiments with unexpected outcomes”. ¢

By Adrian R. Camilleri, PhD

Marketers have the power to help construct consumers’ preferences through information design

Read more about the

Behavioural Business Lab:

www.rmit.edu.au/ ecofinancemarketing/bbl

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Acting Pro Vice-Chancellor Business Garry Carnegie presents Master of Professional Accounting student Catherine Nolan with the 2014 Business Medal.

RMIT Celebrates Future Business LeadersMore than 250 students, industry representatives and guests attended the event on Thursday 21 May.

The ceremony recognised the achievements of more than 45 current students and recent graduates from the College of Business.

Catherine Nolan, who completed the Master of Professional Accounting in 2014, was awarded the Business Medal for her outstanding academic achievement and community leadership.

While at RMIT, Nolan was an active member of the School’s Student Staff Consultative Committee. She also took on an informal role of mentoring a number of international students.

She achieved excellent academic results during her studies, graduating with 12 high distinctions.

Her extensive community involvement both in Australia and overseas, includes mentoring female students from the University of Papua New Guinea and volunteering at the Breast Cancer Network Australia.

Varvara Anokhina received the RMIT Business Encouragement Award for her outstanding academic achievement in the first semester of her first year of study.

Anokhina, a Bachelor of Business (Economics and Finance) student, obtained four high distinctions in her first semester, achieving marks of 97 in Macroeconomics and 90 in Personal Wealth Management.

Deputy Pro Vice-Chancellor Learning and Teaching, Professor Val Clulow, congratulated all the winners for their achievements across the range of business disciplines.

“With innovative ideas and an entrepreneurial spirit, you are destined to be our leaders of the future,” Clulow said.

Dr Terry Cutler, Principal, Cutler & Company, was the guest speaker at the ceremony. He is a current member of the Industry Advisory Board for the College of Business and has extensive experience in the information and communications technology sector.

The prizes were generously supported by many organisations, business and professional bodies, demonstrating the strong industry and community connections of the College of Business. ¢

Read more about Prize Giving:

www.rmit.edu.au/ bus/prizegiving

MBA (Executive) graduate and senior marketing manager Natalie Truong discusses the competitive edge RMIT’s five-star rated program has given her.

“There is no question that studying the MBA (Executive) has given me greater confidence and the courage to tackle the opportunities that come my way,” said MBA (Executive) graduate and Senior Marketing Manager, Digital and Innovation, Bank of Melbourne, Natalie Truong.

She says the program provided the tools and frameworks to help her make critical business decisions, as well as access to a peer network of professionals who she said supported her through her studies.

“In one of my classes I was required to create a business plan and pitch it to a private equity firm for seed funding. I had been thinking of starting this particular business for a while, so the project provided the perfect opportunity to test my idea and gain some valuable insights.”

The University’s MBA (Executive) program is one of only two in Australia that received the top GMAA rating in 2014. RMIT’s MBA program has also been awarded a four-star rating.

The annual GMAA Star Rating is a detailed quality assessment of the top business schools in Australia.

It is recognised across the nation as a rigorous and independent evaluation of Australian business schools, an assessment of great benefit to prospective MBA students, and a valuable contribution to the enhancement of MBA, Doctor of Business Administration and other postgraduate management qualifications.

RMIT’s improved ratings are a result of recent changes to both MBA programs, including changes to entry requirements and strengthened links with industry.

Professor Mark Farrell, Head of the Graduate School of Business and Law, said: “The GMAA ratings are a reflection of the high calibre of our students and staff.

“This is an independent and external mark of the quality of our programs and firmly cements us among the top business schools in Australia.

“The Graduate School of Business and Law is committed to ensuring our students are exposed to cutting-edge theory and practice, and our MBA programs provide students with the knowledge and skills necessary to be successful in business.”

The MBA (Executive) offers working professionals a highly flexible learning experience that fosters leadership, strategic thinking and corporate responsibility.

Students have access to study options in Vietnam, international study tours, online study through Open Universities Australia and intensive course delivery. ¢

Leading the Way

Read more about

RMIT’s MBA programs:

www.rmit.edu.au/ study-with-us/business

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our collective response to family violence can become more proactive – addressing not only the consequences, but the source, of the problem. In doing so, the report turns the spotlight, arguably for the first time, on those wielding violence and coercion, perpetrators whose lack of accountability is often entrenched by the anonymity of the current legal response.

The report explains that, while family violence exists at epidemic proportions, it does not sweep invisibly through communities like a disease, leaving victims inexplicably in its wake. Instead, family violence is perpetrated by identifiable individuals, ones with whom we can and must effectively intervene if we want to interrupt a cycle that can wreak havoc in subsequent generations.

As well as highlighting the benefits of primary prevention, the report identifies opportunities for more effective interaction with perpetrators along the spectrum of the justice system – from police, to courts and, just as importantly, Corrections. Highlighting examples from around Australia and the world,

it draws on evidence which reveals that swift, certain and consistent interventions will gauge the most meaningful results.

Launched by 2015 Australian of the Year, Rosie Batty, the report became a major submission to the Royal Commission into Family Violence, and is generating interest right around Australia. The CIJ continues to meet with government, police, the courts, Corrections and community sectors to demonstrate that it is not only possible, but essential, for legal systems to innovate.

The CIJ’s next report concerning ways to measure the performance of legal systems will continue to issue this challenge to jurisdictions to shape the law as a proactive agency. By immersing students in the work that the CIJ do, the parallel aim is to equip the next generation to answer this challenge. ¢

Centre for Innovative JusticeSince its establishment in late 2012, the Centre for Innovative Justice (CIJ) has started to carve a name for itself across the University and legal and policy sectors. The CIJ researches, advocates, teaches and translates its research into practice – all with a focus on challenging the conventions of the law; on ensuring that the law serves as a positive intervention in people’s lives; and on addressing the causes, as well as consequences, of crime and disputes.

The Centre is involved in a number of projects including relaunching the Mental Health Legal Centre, which now provides a range of RMIT students with invaluable clinical practice. Another project addresses the over representation of people with acquired brain injury in the criminal justice system, while the latest project with the Legal Services Board has been designed to develop restorative justice conferencing in culpable driving cases. Further, the CIJ has been commissioned by the Australian Government to conduct four research projects promoting innovation.

The first, Affordable Justice, identifies ways in which private legal services can become more accessible to consumers, with its recommendations fed into the recent Productivity Commission Inquiry into Access to Justice. The second, Innovative Justice Responses to Sexual Offending, provides a blueprint that governments can use to help repair some of the harm caused by sexual assault.

Most recently, the CIJ’s third report, Opportunities for Early Intervention: Bringing Perpetrators of Family Violence into View, maps out how

Above: Adjunct Professor Rob Hulls, Director of the Centre for Innovative Justice.

Read more about the Centre:

www.rmit.edu.au/ innovativejustice

The third APEC Business Advisory Council (ABAC) for 2015 was held in Melbourne on 10–13 August. More than 250 business representatives from across the region participated in four days of high-level policy discussions focused upon ‘Resilient, Inclusive Growth: A Fair Deal for All’ (the theme chosen by ABAC host nation, the Philippines). The Australian APEC Study Centre (AASC) organised this major event.

Throughout the meetings, business leaders re-affirmed the need for urgent action to facilitate inclusive growth in the region and will present their action plans at the APEC Leaders’ Summit in November. Proposals include:

– action on financial systems

– connectivity

– assisting micro, small and medium enterprises (MSMEs) to access global markets and value chains

– strengthening the services sectors

In particular, the ABAC meeting identified the importance of structural barriers to growth which would require policy and regulatory reform. A number of structural and policy issues relating to investment are canvassed in a new AASC publication released at the meeting (http://mams.rmit.edu.au/cwgz1keqt2r8.pdf).

The third meeting of the ABAC calendar is significant, as ABAC members finalise letters and reports to APEC leaders, finance ministers, and ministers responsible for structural reform, health, transport and MSMEs. The meeting also sets out commenced discussions in preparation for the dialogue with leaders, CEO and MSME summits that will be held in conjunction with

the ABAC 4 meeting in Manila in November of this year. Business leaders also progressed work being undertaken by the five ABAC working groups:

– Regional Economic Integration Working Group

– Connectivity Working Group

– Finance and Economic Working Group

– MSME and Entrepreneurship Working Group

– Sustainable Development Working Group

Attendees at the Melbourne ABAC meeting also engaged with local industry and stakeholders through an extensive networking event program. The financial services, women’s and professional services luncheons were extremely well attended with a large number of private sector and government representatives in attendance. Industry sessions relating to finance, urban infrastructure and labour mobility brought further opportunity for industry to engage in the meeting.

The AASC is grateful for the support and participation of a number of Commonwealth and Victorian government officials who contributed significantly to the success of the meeting. Particular thanks to Australia’s Ambassador to APEC, Brendan Berne, and Assistant Secretary of the APEC branch, John Larkin, and their teams for their support and engagement with the agenda.

The AASC would also like to thank the Australian Government, the Victorian Government Department of Economic Development, Jobs, Transport and Resources, as well as corporate sponsors, ANZ, AustralianSuper and PwC for their generous sponsorship of the meeting. ¢

The Australian APEC Study Centre The Australian APEC Study Centre (AASC) is a leading centre in the Asia-Pacific region for the advocacy of APEC’s objectives, including the promotion of open trade and investment, structural reform and regional integration. The AASC’s thought-leadership is achieved through the development and delivery of institutional capacity building, training programs, symposia, dialogues and policy research.

The Department of Foreign Affairs and Trade (DFAT) appointed the AASC as the Secretariat for Australian members of the APEC Business Advisory Council (ABAC) in 2013. ABAC provides a platform for business to provide input to APEC leaders on regional financial market integration, trade and investment liberalisation, and infrastructure development and supply chain connectivity. The AASC’s role as ABAC Secretariat puts RMIT in a leading position to support Australian efforts to promote regional economic integration.

The AASC delivers programs to develop best practices on urban development, planning and financing across the Asia-Pacific. Current projects include the delivery of multi-year infrastructure and services programs as well as research projects for PayPal (e-payments), and the Australian Department of Labour (international labour mobility).

The AASC has also recently launched the Australian–APEC Women in Research fellowship program in partnership with the Department of Education and Training, which provides financial support for high-achieving female researchers from developing APEC economies. Up to 10 fellowships are awarded each year, and researchers are hosted by Australian education and research institutions for between one and four months. ¢

APEC Business Advisory Council Meets in Melbourne

From left: ABAC Australia Member Robert Milliner, ABAC Chair Doris Ho, Victorian Treasurer Tim Pallas MP and ABAC Australia Member Sir Rod Eddington AO at the third ABEC meeting; held in Melbourne earlier this year.

Read more about RMIT’s international

engagement activities:

www.apec.org.au

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You studied at Singapore Institute

of Management (SIM) – what led

you to Melbourne?

When I enrolled into the SIM–RMIT partnership program it was because of RMIT’s reputation and the employability of its graduates. Also, my father encouraged me as he was an alumnus of the partnership program as well. It wasn’t until midway through my course when I heard about the opportunity to complete my degree in Melbourne and jumped at the chance. This decision was mainly because I wanted more out of my Bachelor of Business (Economics and Finance) degree and wanted to enrich it with international experience. More importantly, I knew that there would be greater opportunities to grow while being in Melbourne, career-wise and personally as well.

How was the student experience

in Melbourne?

I had a great experience at RMIT completing my degree. It was a completely different experience studying here, and I enjoyed every minute of it. In fact, once I was done with my bachelor degree I really wanted to continue with the MBA program. I had always wanted to

take on a more managerial position and saw the MBA as a pathway that would help better equip me with the knowledge that I needed to achieve my career goals.

Studying the MBA program at RMIT was a good decision that I’m glad I made. I had the opportunity to network with people from different walks of life and expose myself to ideas and experiences from others that I would not have otherwise been able to get on my own.

How was the transition? Was

there support from RMIT?

The transition was tough at the beginning – I was new in a foreign country and had to get used to a different culture. However, I was lucky to have great support from friends that I’ve made here. Within a month, I was able to easily adjust and feel at home. RMIT has been extremely supportive towards its students via the countless events hosted for students to make connections and feel right at home. The University often gave me a helping hand and many times reached out to me to make sure I was coping well in school.

Tell me about your internship.

While I was studying at RMIT, I was actively looking for internships and positions within companies to build on my experience. It so happened that halfway through my first semester, I received an email from RMIT about the Bank of Melbourne internship opportunity for international students.

They even arranged an information session between the students and the bank, where I had the opportunity to meet my boss Alice Wong, who was running the program. Without that opportunity from RMIT, I would have definitely missed out on this great internship potentially missing the experience that I have now.

To this day when I look back at the network and opportunities that I was given during my time at the bank, it truly has helped equip me and get me to where I am today. Had I missed out on that opportunity, I might not be where I am today. RMIT provided me with a good starting platform to get to where I wanted to be.

What were some of the highlights

and challenges from the work

experience?

For my internship program with the Bank of Melbourne, I was pretty intimidated and very nervous at the start. I still considered myself as a foreigner in Melbourne, trying to get my experience and make something out of myself. But once I started, I realised my fears were unfounded as there was a great support network at work. My mentor and boss, Alice Wong, made it a conducive environment to learn and also, facilitated in my development not just careerwise, but also in my personal life.

After my graduation, I started working at ANZ where the job was just as challenging. It was a interesting start for me as I had to adapt to changes constantly on the job while still delivering the best quality of work. But I feel that after the experiences and challenges I faced in the MBA program with RMIT, I have definitely been able to better handle these challenges. It has definitely equipped me with the right attitude and drive to face challenges head on and tackle them.

Vanessa Leong reflects on her RMIT experience after moving her studies – and herself – from Singapore to Melbourne.

Access Your Global Passport

Would you recommend students

to follow your pathway?

I definitely would encourage students to take on either program, especially with the MBA. It has equipped me with the necessary skills and attitudes to face challenges and also with the right mindset to succeed.

In a way, my studies challenged my outlook and allowed me to understand myself better in terms of career progression and knowing what I needed to do in order to achieve my career goals. These sorts of experiences I find are not that easy to come by.

While doing the program with RMIT, I had the fantastic opportunity to be with professors who challenged my way of thinking and facilitated that development. Not to mention, the opportunities that the University constantly creates for its students. In fact, I find that I am not alone in this as many of my classmates and acquaintances from RMIT are in agreement about being exposed to the wealth of opportunities at RMIT.

Many of them have found that after graduation, they are more employable and have had so much opportunity simply because of what the University has done for them. I do not for one second regret taking on the courses with RMIT and would definitely recommend students to take them on. ¢

Find out more about studying in Australia:

www.rmit.edu.au/study-with-us/international-students/study-in-australia/

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How did you fund the initial

design?

We applied for and won a couple of design grants – one from the City of Melbourne and another from Design Victoria. So that injected a bit of capital, and we also had capital from BlueBag, which allowed us to bring in a professional design firm.

In the early stages there were times we questioned whether we should continue. The big thing about KeepCup was behaviour change – you’re asking people to wash a cup and bring it back, and that’s a really hard thing to do. We

took the chance that people would be willing to do that.

The next stage was finding a manufacturer, then engaging them with the designers and the engineers to get a product. It was much longer and more complicated than we expected!

You start off with a beautiful rendered drawing, and then the difficult reality of actually manufacturing that product comes in. But we pushed through all that. We’re happy we chose a local manufacturer because there’s a lot of back and forth between them and the designers.

How did you market KeepCup?

We did a design stall at Fed Square (in Melbourne). We sold more than 1000 KeepCups in about six hours. At that point we knew we were on to something.

Origin Energy placed our first big order. That order didn’t cover the start-up cost, but it certainly did give us confidence that we could sell into the market.

A KeepCup is the equivalent material of 20 disposable plastic lids. Our business mission is all about reducing the impact of the coffee industry, and essentially

reducing disposable cups. The other secondary benefit of it is that we do highlight to people the value of reusing and recycling more broadly.

How did you expand internationally

and what was that like?

Because the coffee industry is international, and is fairly heavily networked, it wasn’t long before we were getting demand from different places.

Our first step was to open the office in the UK, because it’s a similar market: English speaking, similar laws, it feels familiar.

How do you take a seemingly simple idea and turn it into a global company? With a lot of hard work, according to Jamie Forsyth, COO of KeepCup, which has sold more than four million reusable coffee cups in 32 countries in five years of business.

Yours to Keep

Where KeepCup does well are countries where design, sustainability and coffee are important culturally. When those three things come together we have a really viable market.

The third-wave coffee movement is also important to the product. The first wave was instant coffee, the second wave was the Italian immigrants bringing espresso machines. The third wave is the start of café culture – specialty roasters, single origin – people who care about coffee. KeepCup does best in those third-wave markets.

What have you learned about

different global markets?

Despite coffee being a global phenomenon with some universal macro trends, you certainly can’t have the same playbook for all markets. Cultural differences have meant we have had to consider differences in marketing, pricing, materials and colours. As an example, we have seen great uptake of Brew, our new tempered glass KeepCup in the US, as they see the value in making the takeaway experience superior by drinking from glass.

The overseas expansion has been the most challenging thing for a small business.

When you go into overseas markets you’re not as keyed into the culture, you don’t know the laws, the taxation – there is so much complexity and there’s not a lot of people you can turn to for expert advice.

You run KeepCup with your sister,

who is CEO. How do you manage

working so closely with a family

member?

We’re a bit like Spock and Kirk. It can be pretty challenging, there’s a lot of blood and tears all over our boardroom walls! But I personally don’t know how different it is working with other partners – I suspect all partnerships are hard in their own way.

I think being siblings, there are benefits in that we can say things that you probably wouldn’t if we were in a normal partnership. It’s easier to bounce back from challenges as well, because you have such a long relationship.

What’s the hardest part of being

your own boss?

I think handing over stuff is often quite challenging, and stepping back from certain things. I think that sometimes you can stagnate when you’re in charge. You need to remember that you don’t know everything – you’ve got to keep on educating yourself and keep on improving.

I never considered myself working in a corporate environment. I come from a family where my father owned his own successful business, so I think inherently in our family we always thought we might go off and be entrepreneurs.

How do you define success?

For KeepCup, being successful is really about achieving our mission, which is getting people to reduce the amount of disposable cups they use. The business also has to be commercial and it has to make money, and that has to meet the needs of what’s required in the rest of our lives, and I think to be successful you need to know what that balance is.

I’m pretty proud of KeepCup. I do feel very good when I see people walking around and using a Keep Cup. In Fitzroy [where the company is based] we see it quite a lot, so that feels good.

What was your time at RMIT

like while studying Business

Marketing?

I wish I had paid more attention! Absolutely everything I did in that course, I had to revisit later in business, and maybe the positive thing was I didn’t feel completely out of water. Wish I’d paid more attention in statistical analysis, because I’ve gone back to it so

many times. Actually, I might not have been able to recall all of the exact detail from the course, but the foundation was there, and I probably think that ultimately gave me the confidence to go forward.

What advice would you give to

someone who’s got a great idea

and wants to start a business?

If you really believe in it, you should be encouraged to pursue that ambition and idea. To protect yourself from the risks of an idea, you need to talk to a lot of people and ask for advice. Ask anyone who will listen! Then have a staged plan about how you would go about launching that business where at certain points you’ve got green and red lights to evaluate – then you’ll know if you should keep on going. ¢

Read more alumni

success stories:

www.alumni.rmit.edu.au

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The New Enterprise Investment Fund (NEIF) has been established by RMIT to support business start-ups from the student and alumni community through $25,000 interest-free loans.

Six businesses have received funding this year including NXK, a label from Bachelor of Fashion (Design) (Honours) graduate Nixi Killick.

The designer and imaginer was excited about what the funding would mean for her business.

“I’ve done so much in the last 15 months since launching my label NXK – from partnering with HP and IBM to dressing Lady Gaga for her global ArtRAVE tour,” Killick said.

“It’s all just been with mum’s old sewing machine too – imagine what I could do with some real equipment.”

Others supported by the fund since it was established earlier this year are free water brand Free Is Better, artisan chocolate company Tonantzin Chocolate, optical fibre specialist Lightcore Tech, organic health product company Manuko, and online live music comparison and booking marketplace GigKoo.

Free Is Better’s founder and managing director, Diploma of Advertising graduate, Alex Chen said the experience with the NEIF program had been very positive.

“The program has benefitted us in ways we didn’t know it would,” he said.

“On top of the funding, we have also been provided with work facilities and professional mentoring and advice, all of which has really assisted us in this early development stage.”

Each year, more than 650 fully fledged business plans are created by RMIT students through innovative programs such as Business Skills for Creative Industries, the New Enterprise Incentive Scheme, the Business Plan Competition and a range of short courses.

Established in response to this overwhelming interest in business start-ups, the NEIF program was designed to provide these budding entrepreneurs with the financial support, networks and advice

necessary to turn their ideas into viable businesses.

Brad Barr, founder of Lightcore Tech, came to NEIF after participating in The Prince’s Charities Australia, Lead Your Own Business program.

“I’m transitioning from the navy to set up my own enterprise and the support and assistance I’ve received from RMIT and the mentors in getting my pitch ready has been awesome,” Barr said.

Wholly owned and run by RMIT, the fund is administered through a board of leading corporate advisers, entrepreneurs, staff and alumni, chaired by businessman and broadcaster Eddie McGuire.

RMIT entrepreneurs can access the start-up capital they need to get their ideas off the ground thanks to the University’s new $5 million investment fund.

New RMIT Investment Fund Supports Student and Alumni Start-Ups

McGuire said it was an inspired resource that supports the development of forward-thinking businesses, providing work opportunities for future generations.

“RMIT is renowned for being a world-class centre for education of technology and design. The University also has a history of taking a hands-on approach to teaching,” he said.

“I can’t think of a more perfectly positioned institution to train future business leaders and provide them with a platform to achieve their professional ambitions.” ¢

Royal Initiative Helps Ex-Service Personnel into Business Leadership Roles

RMIT was home to 22 transitioning defence force personnel participating in an intensive program

that helps them establish their own small business or consultancy.

The College of Business hosted the residential component of the inaugural Prince’s Lead Your Own Business (LYOB) program.

Australian Defence Force personnel transitioning to civilian life after their time in the service participated in the week-long training program within the simulated business space in the Swanston Academic Building at the Melbourne City campus.

The intensive training allowed the ex-personnel to take part in workshops and site visits, learn from experts in the field and find out how to leverage their critical decision-making skills that could impact the success and ongoing viability of their business. The residency follows on from six weeks of online learning.

Upon completion of the residential component, the ex-servicemen and women receive 12 months of mentoring and will complete a nationally accredited Certificate IV in Small Business Management from RMIT.

The The Prince’s LYOB is delivered by RMIT’s Business Enterprise Unit, which also provides training and mentoring programs targeted to students and the micro and small business sector.

Professor Ian Palmer, Pro Vice-Chancellor Business and Vice-President said RMIT welcomed transitioning defence members into the College of Business as part of the The Prince’s LYOB, extending the University’s activities that foster enterprise formation in the community.

“As fully-enrolled students of RMIT, participants will have access to fantastic networks and facilities to get the very best start in their business endeavours,” he said.

An initiative of The Prince’s Charities Australia, the The Prince’s LYOB is the Australian expansion of the Canadian program that has already seen 75 businesses started by Canadian defence veterans since 2012.

The Australian program has gained widespread support and funding from various organisations and philanthropic individuals, including principal sponsor Worldwide Support for Development and corporate partners Defence Housing Australia and the Commonwealth Bank.

The Prince’s Charities Australia is the coordinating presence for The Prince of Wales’ Australian charitable endeavours, many of which focus on the welfare of those who have served in the Forces, and their families.

His Royal Highness The Prince of Wales has a long standing commitment to the Australian Defence Force, serving as Colonel-in-Chief to the Royal Australian Armoured Corps since 1977. ¢

Participants at the launch of The Prince’s Lead Your Own Business program in Melbourne.

Become a MentorBusiness Plan Competition www.rmit.edu.au/bpc

New Enterprise Investment Fund www.rmit.edu.au/students/neif

Find out more

about tailored

programs for

your business:

www.rmit.edu.au/princeslyob

NEIF recipients Matthew Hardie (Manuko), Antonia Green (Tonantzin Chocolates), Nixi Killick (NXK Design), and Fernando Ramirez (Tonantzin Chocolates) and Brad Barr (Lightcore Technologies).

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College of BusinessRMIT UniversitySwanston Academic Building445 Swanston StreetMelbourne VIC 3000Email: businessevents@rmit.edu.au

www.rmit.edu.au/bus

14190 1015