Entrepreneur Seeby Woodhouse on his best move, his worst move and his hopes for 2024

Seeby Woodhouse has hopes for this year. Photo / Michael Craig

Self-described entrepreneur and gentleman adventurer Seeby Woodhouse created an internet service provider - Orcon - as a teen then sold it to Kordia for $25 million in 2007 while still in his 20s. Today he owns a property investment firm, Voyager Internet and Woodhouse Mountain Lodge (which earlier this year hosted Three’s reality series The Traitor) among other interests. He spoke to the Herald about his horror 2023 and his hopes for the new year.

What are your hopes for the new Government?

That they’re able to keep the coalition together, make effective changes and improve Kiwis’ lives.

How would you describe 2023 for your business?

I have several businesses, and 2023 was a tough year. With the floods causing damage to some of my properties, inflation being a constant issue, interest rates for my loans doubling, being sick with Covid - (twice) - it always seemed like there were battles all year.

What will be your biggest business challenges in 2024?

All my customers across all my businesses have been squeezed by inflation and cost-of-living pressures whether they are consumers or businesses. The challenge for 2024 will be to convince customers to spend money instead of cutting back as they did in 2023.

What opportunities do you see in 2024?

I’m looking forward to 2024 being a better year with interest rates hopefully coming back down, and renewed business confidence in the new Government.

What was the most interesting news story of 2023?

The dual floods for the country - an ominous sign that climate change is here and now and causing damage, not some future risk.

What are your predictions for 2024?

Although I see interest rates coming back down, I’m also concerned about a global recession and the possibility of war spreading to more countries, and lowering interest rates will heat inflation back up again. Central banks will have a tough time choosing between monetary stimulus and contraction. Both options have downsides.

What’s the worst mistake you have made in business?

Being a minority shareholder in a business that I wasn’t actively running - and then it turning out that I would have to be the one to take on the majority of the financial burden to rescue it when problems arose.

What would you rate as your greatest success?

Starting Orcon as a teenager and selling it for $25m with less than nine years of work.

Where and how are you holidaying this summer?

I had pent-up travel bug syndrome, so this year I spent two months in Europe, and three months in the US, so I don’t need any more holidays. I’m looking forward to a staycation at home, sorting things out for the new year and having swims in my pool and playing tennis.

What would you recommend as a good book to read over summer?

Life Force by Tony Robbins - a great primer on the incredible healthcare advances that are being made right now that most people aren’t aware of. AI and the ability to edit genes is creating whole new worlds of possibility for curing disease and extending life span.

What series will you be streaming?

The Arnold Schwarzenegger mini-series on Netflix [Arnold] is a sensation. I think I’ll watch it a second time.