The traditional approach to managing fisheries has been to focus on biology at the expense of sustainable industry profitability. This approach is failing numerous wild catch industries in Australia.

Good luck rather than a commercial approach, sees the rocklobster industry remaining as one of the most valuable seafood industries in Australia. But cracks are appearing with unexplained recruitment collapses, business failures and new environmental threats on the bow.

A revitalised management approach is needed if the lobster industry is to survive long term, and this must be about sustained profitability.

Opportunities to build and sustain profits exist through:
- market development
- stock manipulation
- industry cost mitigation and
- people, industry and business management.

A watershed meeting is needed to assess the benefits and costs of conventional approaches and set the framework for managers, scientists and industry for a more profitable industry.