You can always count on BRW to
offer good advice to up-and-coming Australian business moguls. So it
was with some interest that Crikey read Swinburne University lecturer
Tom McKaskill’s recent article about how good entrepreneurs have an
innate ability to separate good ideas from bad; sensible decisions from
blunderous.

Entrepreneurs, by their nature, have lots of business
ideas. Most are quickly discarded, but there are always some that have
a reasonable chance of success. No business idea is perfect and each
has some chance of failure, so which ones do you spend your time
chasing?

McKaskill goes on to evaluate “opportunity
evaluation” – a business concept that’s just the hottest thing going
around at the moment – which involves, and who would have thought,
systematically analysing the chances that any new business venture will
succeed in the future, and for how long.

But maybe he could
hold off on distributing advice about how to be a good entrepreneur for
a while, as McKaskill holds the “Richard Pratt Chair of
Entrepreneurship” at Swinburne’s Australian Graduate School of
Entrepreneurship.

We put in a call to Swinburne University to
get its response to the unfortunate title of McKaskill’s chair – named
after the businessman who was recently charged in Australia’s
biggest-ever cartel case – and Vice-Chancellor Professor Ian Young
responded with this statement:

“Richard Pratt is a very successful entrepreneur and leading
philanthropist. He played a key role in encouraging Swinburne’s
entrepreneurial focus during his time as Chancellor (1992-2000), hence
the University’s decision to set up a Richard Pratt Chair in
Entrepreneurship with a focus on publicly celebrating entrepreneurship.”