It turns out there is a lot of common ground between business and sport so I've been able to apply these well. Some of the things I think are most relevant are as a sports person you are living in a fiercely competitive environment, setting and achieving big goals and targets.
You're trying to work harder than the competition so resilience is key. You need to have blinded determination to keep going for long-term success, constantly be working on self improvement and open to coaching.
Teamwork makes the dream a reality so having to work with a diverse group is vital. One of the most obvious things is dealing with success and recovering from failure on a daily basis, which are key in both worlds.
I must admit, it did take a few setbacks before I found something that worked for me, so it is hard to keep up the motivation, but you've just got to think of the end game - and pay the bills! And once you're in the door somewhere, it's much easier to prove your worth, learn more skills and further your career.
2. What's the biggest knock back you have received during your business career?
It was early in my business career and I was positioning myself for a general manager role in the company I was at. This would have been a new role. As part of my strategy to set myself up for the role and a promotion, I engaged an external consultant to come in and do a review of all the staff, roles and responsibilities - thinking they would identify the need for a general manager and that naturally senior management would pick me. But it backfired.
Senior management went ahead and made a quick decision to hire externally and I was overlooked. Looking back now, I was far too naive and thought I was more capable than I was - I had a real sense of entitlement. The lesson I learned here was that you've got to do the time, you've got to have self awareness and recognise your own capabilities, competencies and more importantly, your gaps and work out how you are going to improve.
3. What are the main (if any) social benefits of running a business on a capitalist model?
The rise of the social enterprise is really taking off around the world. The ability for a business to make profit is one thing, but more and more I'm seeing the need for businesses to give back for the greater good. This is something employees are almost demanding.
When they consider a company they'd like to work for they want to know if its values align with theirs - are they sustainable, what do they contribute to society, etc.
I particularly admire businesses like Eat My Lunch and the work they do. Though I don't think you have to be a not-for-profit to give back to society in a meaningful way. If you're part of a business or building a product or providing a service that solves problems for the communities and has greater benefits - you're ultimately helping build better schools and hospitals. And that's what I love about Xero - we're committed to helping small business to succeed - and this excites me every day to get out of bed and go to work.
4. What ideas or initiatives that you have seen being used abroad would you like to see come to New Zealand?
I think employee volunteer days are really valuable for both manager and staff, and this is something Xero offers. Xero is an organisation that believes in making a difference, whether it's at a personal level or it's for our customers and partners. We give our employees an additional day's leave to volunteer for a registered not-for-profit. It aligns with our values and it's a great way for employees to lend a hand and make a difference in the communities in which we live and work.
If we look abroad, Europe and Scandinavia are ahead of the game in this space. Sweden recently introduced a six-hour working week as businesses look at social connection and taking a holistic approach with their employees. Research shows employee productivity increases when they're able to be more aligned to the purpose of a business too. I think what we're seeing across the board is businesses are typically becoming more environmentally focused too - as are individuals.
5. What do you see as the main challenges and advantages to success in the NZ business community in the next five years?
One of the main challenges I foresee is around technology adoption and automation. The risk with businesses not adopting technology is an impact on productivity. And with New Zealand already having one of the lowest levels of productivity in the OECD, we can't afford to slip further behind. And businesses can't afford to be left behind in a connected world if they resist adopting technology.
I'm excited that the Government has announced the new CTO role and this is super important to drive digital strategy for NZ Inc. Ultimately, New Zealand is a tiny country in the South Pacific so businesses need to have a global outlook. And the ability for businesses to be able to export their products using global platforms is very important and it's never been easier.
Another challenge is the continuous struggle for small businesses to get paid. Cash flow issues for small business also need to be addressed. Xero is pushing e-invoicing to be the potential solution to payment issues in New Zealand. A continued drive to connect small businesses to growth consultants - bookkeepers, accountants and financial institutions should solve some of these issues too.