OMG my son is suddenly an entrepreneur!

I never thought I would see the day that the children I have nurtured so zealously over the last 20 odd years have both finally bloomed into real adults capable of making adult decisions and suffering real adult anxieties.

But that day has come and Edward has finally decided that employment is not for him, so it’s the entrepreneurial pathway that he's now tackling. First venture - a massive skateboard ramp making enterprise … not sure I've seen him as an overly keen skater during his teen years but what would I know as we tend to lose connection as to what they are really interested in and what they are really doing. 

Raising boys seems to include a gap somewhere in the teenage years for most mums where the open communication, connection and conversations of yesterday turns into grunts and embarrassing, disconnected hugs. We wonder if our original boy will ever return. He does ... but it is different. So it’s all about how we make that connection going forward that brings us both together on a regular basis.

I get the call, the one that slightly resembles the many mentor sessions I have had with other struggling budding entrepreneurs. He has an idea; he's going to make large skateboard ramps and target higher demographic Auckland teens that are able to convince their parents to include one in the backyard offering … as these things are not cheap.

We talk the obvious things… marketing… yep it’s all digital. He’s even given me a great idea which I go on to execute successfully against the Trade Me $1 reserve platform reserve.

The money, as always becomes his sticking point. What about the small legacy you were left by your grandfather? Not convinced the thing will fly (seriously, how can he have doubts at this early stage), he's reluctant to tap into his only funding pool, and the excitement of the pending OE next year is possibly his biggest barrier to this entry.

Okay I say, I believe in this. What about I become a silent partner? I'll take a profit share … it’s a maybe. He still wants to take it slowly. 

There’s a location issue; where do we build? His father’s farm in the Waikato is possibly a little far from his market, even though it’s a Trade Me offering, I’m sure many will want to view before they commit.

We talk about design, which is his strong point and he has many great ideas on construction that are not the norm. So how can we create that unique selling point? We come up with a great visual idea for the side of the ramps using one of his friends, an out of work and very talented graffiti artist.

The first image goes up on Trade Me. He gets 500 odd views, no he's not in the $1 reserve, and why didn't we put up the visual one?? …. arghhhhh 

The interest is lukewarm. We have eight watchers and some dialogue going on in the questions. Someone has made an offer below his buy no, it’s a little bit exciting. Even though our first point of entry is weak, success occurs and we sell the ramp… but I know we could have done this so much better.

I realise I have a business driven skating guru in my network and make contact. I want Edward to pick his brains.

I endeavour to get the two of them together, however Edward says he's not ready. I am, so I get into email dialogue with the guy resulting in some great information coming out of our cyberspace conversations, which I duly pass on.

The feedback is not so positive and Edward wants to walk away, grateful he's at least sold the first ramp. OMG I say, if I'd listened to all the detractors when I started, (my first landlord told me I'd be closed in six months just as all the other frock stores that he'd leased to) I'd never have started! He rethinks and re-evaluates the content of the feedback email. I suggest that there may be a conflict of interest as the guy also makes ramps (a bit like asking Trelise Cooper for advice in the early days).

I talk again regarding renting temporary premises in Auckland to get some ramps made closer to the market he's targeting. He's nervous and decides to make the next ones on his dad's farm.

We re-list the same ramp on Trade Me. He struggles with the concept as someone has just bought it and I try to explain that he's now in the business of selling these.

Time is of the essence; we have established they are the perfect Xmas gift for a certain kid… but is the skater in this demographic? Some would say not.

We are learning lots as we go, and I think I’m more excited than he is!

I consider the objections that he keeps putting up and can't believe he's being so conservative.

I'm not sure I agree, or can change his approach.

We agree to get the art on the next one and will fly his friend up for the week, then give this one a real push through a myriad of social media channels. We are looking at events that we can get involved in (Rhythm and Vines seems like a great fit) and are working out who to approach. We consider the charity route. 

I see so much in him that is in so many others I work with in start-up and initial business mode. It is about a great idea executed well, and a self-belief. It doesn’t have to be a new idea, but it does have to have a very real point of difference to set it apart. People need a reason to buy your product or service, and please, don't make it all about price, the domain of so many struggling businesses!! 

You have to consider how to market … and social media creates a very cost effective platform.

You will need to have some finance to meet initial cost and often a place to work. Consider them all and budget for them.

You will need to do your homework, even if the idea is not fully formulated in your head.

Get out there and talk with others, network, brainstorm; two heads will always be better than one. 

Consider all marketing opportunities… even if the product isn't quite ready you will get the very necessary feedback.

And most of all, don't listen to the detractors! Everyone will have a view, so trust yourself and give the idea a good go.

You just may surprise yourself, as I'm sure Edward will. 

Are you treating your employees like gold?

After the announcement that Miners in Waihi will be out of work for several months' next Christmas before Newmont Waihi Gold's controversial Correnso mine starts production Stretton Clothing CEO, Annah Stretton asks all business owners to consider the importance they place on their team – especially during the Christmas season.

Newmont Waihi Gold general manager Glen Grindlay said managers had been talking to underground crews for the last few months to advise them of the situation.

"We are doing everything we can to retain a skilled and specialised workforce, but in the end it may be that we have a gap of several months during which there will be no work for most of our underground employees. It is certainly in our best interests to keep our staff, and we will do everything we can to do so, but if Correnso does not start production until 2015 there will be very limited work for any underground staff."

Newmont Waihi Gold’s value placed on its team are a stark contrast to that of Overland Footwear which was recently voted the winner of the Kenexa Best Workplaces Survey 2013 for the second year. As a study solely based on the opinions of employees, businesses are looking to the footwear giant for lessons on successful company culture.

Stretton believes she too has the keys for establishing an organisation that prides itself on its people. 

“My success came from quickly learning that a company wasn’t just a collection of roles, process and products. I needed to develop a culture and a brand that spoke clearly of its vision and dreams,” Stretton says.

“People are the most valuable asset this company has and they have the potential to make or break my brand every day.”

In today’s highly competitive job market retaining and attracting the right people is crucial and a company's employer brand makes all the difference. Getting this brand right enables the employer to recruit highly skilled employees and keep their loyalty, it raises the company’s visibility in the job market and makes it stand out from the competition.

In Stretton’s latest book, Rock the Boat she provides 10 essential leadership keys to establishing an effective team…

8: Learn to make the tough calls

Do not ignore poor performance by anyone. Address issues and set expectations

Your business may not employ the numbers that Overland or Stretton Clothing does but it does have an employer brand whether you want it to or not. So ask yourself; if I was looking for work what would make me want to work here? 

There are many factors that help form your company’s employer brand. These include: How people perceive the financial health of your company? Does your company offer good learning and development alongside job security? Is there an opportunity for career progression? What type of manager or leaders are there? What sort of perceived culture is there?

Think about things like:  Do people see my employees having a good work/life balance? Are we seen as flexible? How do people see our values and image?

Look at your product and services: How do they reflect the employer brand? Where are you located and how do you use the latest technology?

Ask yourself:  How are you perceived environmentally and are you seen as societally aware?  Do you reflect diversity? 

Purchase your Rock the Boat e-book at http://www.amazon.com/dp/B00F3OZ90O

Purchase a physical copy of Rock the Boat at http://www.annahstretton.co.nz/shop/Shop+Online/Accessories/Shoes+Bags+Homewares+Other/Rock+the+Boat.html

 

Jobs Lost Due to Digital Domination: What You Need to Know Now

Losing our posties is a long line of casualties that digital change drives and certainly raises the question as to whether there are other industries that need to look at their team attrition before they are forced to offer redundancies.

ANZ New Zealand, the country's biggest lender, boosted its annual cash profit of $1.44 billion in the 12 months ended Sept. 30 from $1.29 billion a year earlier, the bank said in a statement. The cost cuts came in a period when it shaved 10 percent from its workforce to 7,400 full-time equivalent positions. Surely the plight of so many bank workers should get others looking at their business operations.

And what about Fairfax… their cutbacks have been well publicised as there's nothing surer than declining physical subscriptions and increasing digital engagement meaning less people needed and lower returns generated. The shift towards digitisation of modern publications is necessary, but it also leaves the employees at the print-based periodicals of Fairfax Magazines in a precarious position. The end-of-year financial results, released by Fairfax on 22 August, further accentuated the need for cost-cutting measures. Across the group, Fairfax revenue suffered a drop of 8.2 percent, while New Zealand fared slightly better but still dipped by 4.7 percent.

The fashion industry itself which is largely made up of physical retail sites in shopping malls and on strips is also having to face this reality. Those that have failed to react to change at any level and have no digital reference as yet are simply no longer relevant.

It’s not just the domain of the younger generation. Internet shopping is here to stay and just as the baby boomers have embraced Facebook, they too are loving the huge selection of product that is available 24 hours on the digital platforms.

Fact: there's not a lot that is easier than shopping digitally. 

Even for self-professed digital dummies return policies are fluid and freight is free unlike our physical retail counterparts.

I now know why so many small retailers are finding it so hard to compete or are considering closing up shop.

No longer are their customers interested in shopping in their underwhelming, under stocked and poorly staffed environments. Wake up retailers! Skimping to ensure your survival will now be your demise.

A couple of months ago my 70-year-old mum asked me to take her shopping for a red coat with a wool mix as she feels the cold.

“Really mum? Shopping? I'll show you how to find exactly what you want by using the internet.” I got her to key woollen red coat into the Google search engines and see what came up.

Yep, she found one. And right on our doorstep in Morrinsville at the local Caroline Eve store and guess what - it was part of a 50% off sale.

The perfect result. Mum is now a total convert of internet shopping. Imagine how long it would have taken to find this coat as part of a shopping day that she had planned to execute and drag me along… the one daughter she has that hates shopping. Success was at her finger tips and will always be going forward.

Let's face it - why would you spend time determining the location, braving the weather, navigating the city’s parking spaces, being attended or not by disinterested store assistants and finding the selection lack lustre In your size and taste when the internet offers a total and extensive choice and overnight delivery.

Single cell retail stores on local shopping strips have a lot to do to keep up with the change. At the very least an engaging digital eCommerce website is now required alongside some very active social media sites that drive engagement with authenticity.

No longer can you hold onto the fact that there's still a demographic that will not make the change digitally for the next few years as they have made it. Google is the new business card. You need to be able to be found and transacted with on digital platforms.

To ignore what is happening will mean early extinction. To get involved and look for ways to drive these new platforms into your business will, I suspect, open up new doors and exciting opportunities.

Rather than burying your head in the sand, start driving the change.

Look at what causes pain for a customer and work your business model to remove it. One of our solutions was the conception of the Birds of a Feather collaborative store models; large sites that were all about inspiring and engaging the customer and getting them back into retail. These sites are being run by incredibly capable women that are a perfect fit for my brand. They offer a shopping experience as they are also trained stylists. You can read more about this concept in my latest book, Rock the Boat. Available from http://www.annahstretton.co.nz/shop/Shop+Online/Accessories/Bags+Belts+Homewares+Other/Rock+the+Boat.html

As well as the collaborative product offerings these new platforms of retail are able to accommodate events introducing a totally new demographic to my brand. For me it was simply thinking differently around traditional business models.

Sir Douglas Graham's knighthood not revoked. Why not, Designer asks

Following Prime Minister John Key’s decision that he would not revoke Sir Douglas Graham’s knighthood after his conviction for making false statements in a company prospectus I have had cause to reflect on the elevation receiving such a notable acknowledgement has on your personal brand and how this can all come tumbling down if you mistreat it in any way.

Graham received his knighthood for his leadership role in Treaty settlements and he was convicted of a strict liability offence, where dishonest or criminal intent was not required for conviction. In some nobleness Sir Graham indicated that he was considering giving up his knighthood before Key's decision not to strip the former justice minister of it.

I believe the knighthood should be about a statement of trust and confidence as well as strong success and contribution in the areas that it has been awarded.

It certainly is one of the highest accolades to be awarded by your country. The Order of Merit that I have in fashion, business and community certainly becomes a very strong attachment to my personal brand.

It is hugely disappointing to me when distinguished individuals, another being high-profile Tauranga businesswoman, Rae Beverley Adlam who helped iwi negotiate the purchase of geothermal assets. Last year Adlam pleaded guilty to 24 counts of knowingly filing false tax returns, nine of which related to income tax and GST returns filed in the name of Onepu Geothermal Energy Limited during the tax periods March 2002 to March 2006. She was convicted and discharged on the nine charges and ordered to pay $133,000 reparation. Adlam was made a Member of the New Zealand Order of Merit for services to business in the 2008 New Year's Honours List.

The difficulty will always be in the unknown background noise (if any) when awarding these honours.

I do however believe there will be circumstances to remove them as they simply are not a true representation of the person’s behaviours and success in the awarded fields. It is imperative in many cases to maintain the integrity of the awards that others have and will get.

Are you the sacrificial lamb in your relationship?

Never has there been a more important time for women to think about how they can have it all.

 

The Westpac Women of Influence Awards last week certainly showed a line-up of capable New Zealand women - most with children and partners living their dream. Many spoke of how their children were and would always be their greatest achievements and acknowledged their partners in their thanks. 

It truly is time for those women that dream of a different life to start making steps towards it. I sat beside a woman at an event last week who had put her career on hold while her children were young. Her man however had carte blanche to establish his pathway as they moved regularly in pursuit of his dream. It was alarming to hear the dissatisfaction in her voice.

I question how you can truly give your best to the mother/partner role when the resentment starts to creep in. This woman's question to me however was, ‘how do you do it? How do you can have what you have and still have the family and partnership functioning as well?’

GUILT. 

I have none. I trust myself to execute all my rolls well. Sure I have had to become extremely good at time management but like any great athlete I simply push myself to the limits so that I can have it all. Sure it takes time to become good and a truckload of practice but you will eventually get the gold medal.

In my latest book, Rock the Boat I implore women to exist as their own sect; in their own entirety. We are not and will never be an extension of a male, or a child. I can say my children are my greatest achievement; that doesn’t mean they have to be my only achievement.  

I’ve never experienced the guilt that some women feel about being a working mum. I think that is because I am so comfortable in my own skin. The guilt trip is the absolute hand-brake for most women and it is so unnecessary.

Women need to believe that they can have it all! We simply need to establish ourselves as a separate entity first and create the person you want to be without any of the guilt ties to family or partners.

2013 Women of Influence Award Winners:

Supreme Winner and Board & Management category winner: New Zealand's 2015 Cricket World Cup Head, Therese Walsh
Regional & Local Influencers winner: Former Wellington Mayor, Fran Wilde
Innovation & Science winner: Academic and former MP, Marilyn Waring
Community Service & Social Enterprise winner: Affirming Works founder, Emeline Afeaki-Mafile'o
Business Entrepreneur winner: Chen Palmer co-founder, Mai Chen
Emerging Leader winner: Computer programming lecturer at Unitec, Mahsa Mohaghegh