What are the prerequisites to be prepared to succeed in business?
Preparation, planning and flexibility are crucial. Think through the possible hiccups and disruptions to your business and how you will react to them. Understand and manage any risks. It is better to prepare and think through both the good and bad, so you are better prepared for the inevitable "chat" with the bank.
Having a mentor and/or someone to ask tough questions about your business, and offer guidance is worth its weight in gold.
Besides access to competitive capital and the usual financial considerations, an honesty within your business is essential to success. All businesses should regularly check that they "match fit": What are customers and potential customers expecting from your product or service? How do they expect to be treated? What problem are you solving for them and why should they pay for it? Why should they use your business and not an alternative? Why should a customer buy from you again?
I believe the pre-requisites for a good business are the same as for a good life; positivity, utilise talent, be respectful, work steady and hard to reap the rewards.
Do you think the guiding philosophies around the business world are moving at pace?
Consumer buying habits are changing rapidly, and businesses have to be nimble and flexible to stay in sync. For example, when was the last time you went to town primarily to post a letter, book a flight, buy a book, go to a second-hand shop, rent a video, meet your book keeper or go to the bank?
Business fundamentals do not change. But the pace and spread of technology change is exponentially faster than ever. Customers and competition used to be just up the road, or in the next town, now they can be anywhere in the world. This brings both huge opportunities and huge challenges which cannot be ignored.
From your time in politics is there one person or business that brought to your attention an issue that still sticks out to you?
Every single business owner is a hero. They have "given it a go". More often than not, they have put their family home on the line to fund their business, work long hours and pay themselves last. They often see employees more as extended family.
The late Graeme Lowe QSM CNZM was a local and New Zealand business icon. I admired his vision and constant drive to achieve the potential that others just could not see. He refused to accept the mediocre status quo and regulatory monopolies that were suffocating our potential. The title of Graeme's biography is true for every leading business person: Who Dares, Wins Freedom.
What is your view on how Hawke's Bay and NZ in general can remain competitive while transitioning into a more environmentally sustainable economy?
Remaining competitive is absolutely necessary, but I would aim higher. Why not aim to be the dominant premium food producing region and country in the world. We simply cannot be reliant on low margin, high volume models of production and incentives if we want to sell premium products to premium customers.
The challenge is for our producers to be responsive to customers' and potential customers' desires and preferences. Those customers are bombarded with anti-New Zealand produce messages such as buy local, buy fresh, food miles, climate change, water quality, animal welfare and offerings of synthetic factory-made protein.
Knowing and understanding what we do well and could do better. Acknowledging and adjusting to consumer challenges. New Zealand produces and exports food for around 40 million of the six billion people in the world. We cannot compete on scale. Hawke's Bay and New Zealand must produce for and sell to premium customers prepared to pay a premium price. Those customers place a high value on the integrity of standards, verification, production, sustainability and environmental considerations.
How are you dealing with the transition back from politics to the full-time corporate world, and will you still be Hawke's Bay-based?
The transition from politics is part of my career journey which has been pretty exciting so far.
I am assisting the Horse of the Year board to build an even better HOY, as well as advising businesses on how to better engage with central government.
I am also working with Afrimat South Africa wanting to invest into New Zealand's quarry and aggregate sectors.
Of course, we are staying in the Bay, why would anyone live anywhere else?
And of course, I am loving having more time at home with my CEO, CFO and COO (wife Kristal).
