As soon as I decided to leave the US corporate world and focus on helping build a stronger local tech sector, Ross was one of the first companies I approached. Knowing Ross, his strong sense of ethics, and his style were all factors in me wanting to explore how we might work together.
I spent about six months helping with his business plan, and then helping with execution. Our capabilities and experiences were very complementary and I was spending about two or three days per month providing things like strategy advice, networks, competitive and industry insights, suggestions for contacts and partners and being a sounding board.
Then early this year Ross asked me to consider becoming a director of PIM. Ross and his business partner Aaron, who is the COO of PIM, had been able to do their due diligence on me and equally I had been able to better understand the market and the business proposition.
What do you think you bring to the company as a director?
It's mainly to do with the activities I mentioned above, but I also bring a fresh set of eyes and ears to the company, and come from a different perspective. When you are not involved in the day-to-day operation of the company, it's easier to focus and think about the strategic implications of various factors for the business. Ross and Aaron use me frequently as a sounding board - to test market assumptions, consider how players might react, advise what position to take on key negotiations, and who - and how - to approach a new market, partner or opportunity.
What impact do you think the company's governance has had on the business?
PIM already had good rigour and discipline around their fiduciary responsibilities, and this fortunately continues, and is noted and welcomed by the supportive shareholders.
The governance at PIM has created a separate and discrete approach to reviewing and approving the company's strategy and key business activities. Governance has also introduced a new network and way of thinking about the market, and the value proposition that PIM brings.
What advice would you have for other independent directors in terms of maximising the positive impact they can have on a small business?
Find a way to 'test the waters' and engage with the company before becoming a director. You could offer your services, for example, as a mentor, adviser or in an advisory board role. I'd recommend getting to know the key stakeholders in the business: can you work with them? Can they work with you? Will they take on-board independent advice? How will they react to being challenged, both personally and professionally? Will they act in the best interests of themselves or the company first?
I'd also carefully consider if your involvement will bring real value. What experience, networks, skills, and thinking do you have that will allow you to build on the value of the company?
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Coming up in Small Business: Running your own business can be all-consuming, but if you're not physically in shape it can be harder to keep up. So what are some of the different things small business owners do to keep themselves well - and what effect does that have on their business? If you've got a good story to tell, drop me a note: nzhsmallbusiness@gmail.com.