Talking Heads: Karen Mason

Position: Partner at Meltzer Mason Heath, insolvency specialists

What makes your day at work?

The buzz of having something new and challenging to work on, and the people I work with. Every day is entirely different, and there can be a rush of adrenalin when a new assignment comes in. We have a large workload, and four or five new jobs can come in on any given day, which can be a challenge. But the fun is that each one will have its own set of problems that needs solving on the spot.

Some say it can be stressful to make instant decisions, and admittedly it can be, but this stress can also be channelled into positive energy. Of 600 jobs over eight years, no two have been the same. And we have only five days to complete our job and put an end to the director's worries. The next big rush comes from a successful result for our clients; in the courts or selling the assets or business of a company at a good price, which means we can pay the creditors.

We are always after the best result, and it makes our day when we get it.

When did you first become a manager?

In 1992 I joined Jeff Meltzer and Associates as a manager responsible for co-ordinating all facets of insolvency assignments and supervising staff. Before then I had been an accountant, and this year I became a partner of Meltzer Mason Heath.

What was the most important lesson you learned on your way up?

To be compassionate while being fair. Many small businesses get into difficulty. I feel a certain compassion toward the directors who have worked hard - and feel for all classes of creditors who will suffer a loss due to the closure of the company. It's important to be fair in all decisions. I think women think with their heart more, and men with their head. It is a male-dominated business, but the day I stop feeling something for the people is the day I stop doing it.

Small business problems can be particularly hard on wives, and I often find they feel more comfortable with me. But overall it's essential to have a good knowledge of the law and legislation that surrounds insolvency issues, coupled with trust in yourself and your instincts.

What has been your best moment in business?

Being invited to become a partner - a rare thing in this sector of accountancy for a woman. One particularly memorable thing for me happened in December 1999, when we made a payout to 120 workers for redundancy claims. This doesn't usually happen, and it was a highlight in my career.

Through my hard-line approach I achieved above average prices for the assets, that resulted in the payout. I held in for them, after having to stand up in front of them and say they didn't have a job.

I also went to Australia and refused to leave an office until I had the money that was owed. We worked over the weekend so the workers would get it before Christmas, and it meant I gained a great result for the people I cared about.

How have you dealt with the pitfalls in your career?

Pitfalls come in many guises. The most serious is the verbal and sometimes physical abuse directed at me. I have found the best way to deal with these situations is to stay quiet and calm and let the abuser vent his or her frustrations. Then I take the necessary action very firmly. I do have a reputation of being hard-nosed, and I intend to keep it that way. My family is the most important thing to me, and I can't be intimidated by abusive people.

Another pitfall is that we are often viewed like ogres - people who come in wearing suits with no hearts. But we're not like that at all. A lot of people don't know they can just approach us off the street, and that we can help them get out of a bad situation. The answer may not always be to close the company.

The other pitfalls are numerous, but experience and delegation that frees up more of my time certainly minimises these.

What annoys you most?

The person that thinks I only have his or her issue to deal with on a one-on-one basis. A liquidator looks after the interests of all creditors of a company whether secured, preferential or unsecured.

Regrettably, some creditors adopt an attitude that they are above the law, or should be treated differently from other creditors. Invariably, this leads to extra costs being incurred by the liquidator or receiver, which often means everyone loses.

On a personal level, people who don't pay their bills annoy me, and it seems to be becoming a trend in New Zealand. The whole attitude towards debt is changing, and it can lead to a whole lot of wasted energy.

If you were starting over again, what would you be?

In all honesty, I would do exactly the same. I only wish I had started sooner. I certainly find this specialty field exciting and fulfilling compared with my previous experience.

What management wisdom is most overrated?

I don't particularly believe management theories are over-rated, perhaps more often overused, or used incorrectly. People go on about the paradigms of management, and don't get on with doing it.

Our business does well out of having a flat structure, where all of us chip in on any task.

What will be the big business issue of the next decade?

It could only be e-commerce. With the significant and rapid changes in technology such as e-commerce, small to medium-sized businesses have to be prepared to make the necessary changes to turn technology into an opportunity.

The challenge to these businesses is to recognise the need for change, and engage the right professionals to implement them.

We have started to see some small businesses come through that have tried to take advantage of technology opportunities, but failed.

I must say I often wonder what will happen to the CBD if e-commerce takes off. Will we all be working from home?

How do you relax?

My relaxation centres on physical activities such as the gym and golf. My absolute indulgence revolves around my love of books, my garden and my wonder grandson, who gives me much pleasure - along with the company of my adult daughters.

* Karen Mason spoke to Paula Oliver.