doing the right things - nz maori accountants
TRANSCRIPT
Ahipara
(Shay Wright,
Te Rarawa)
Whangara
(Travis O’Keefe,
Ngāti Porou)
7
6
13
7
9
36
7
3
2
25Iwi
organisations
550+Māori
leaders
90Māori Trusts
throughout Aotearoa
Clarityaround what to
focus on
Confidence that they
can actually achieve it
Capability and
Communications systems needed
Execution support to actually
Carry it out
Te Whare Hukahuka clients
Key theme for today:
Focusing on the right things
= this cuts across leadership, innovation,
entrepreneurship, and social impact
80 / 20 rule
WHAT YOU DO YOUR RESULTS
80%
20%
20%
80%
20% of what you do leads to 80% of your results
Do the 20% that matters and outsource the rest
SALES: 80% of the business is done in 20% of the time of the year, month, week
SALES PRODUCTIVITY: 80% of the sales is generated by 20% of the sales staff
PROFIT: 80% of a business’s profit comes from 20% of the sales or 20% of the customers
COMPLAINTS: 80% of the complaints come from 20% of the customers
MEETINGS: 80% of the important discussions happen in 20% of the meeting time
Where should you focus your time to grow your business?
80 / 20 rule
TWH methodClear role & responsibility:
Communicating:
Strategic thinking:
Managing risk:
Measuring and monitoring:
OLD SCHOOL• Tries to teach a lot of
things
Governance Training
20% of activity that makes a great governor
80 / 20 rule
Key theme for today:
Focusing on the right things
= this cuts across leadership, innovation,
entrepreneurship, and social impact
VS whānau who were...
•Measure means, not ends
•Had many goals (a to-do list)
•No progress made each month
•Had only 1-3 key end goals for each year
•Goals are SMART = Specific, Measureable, Achievable, Relevant, Timebound
GAVE THE T-SHIRT AWAY
PROUD TO WEAR THE T-SHIRT
Maori Trusts where the whānau...
We will ensure the commercial division is well-managed and resourced so as to protect and develop our assets and achieve sufficient returns on our investments.
By 2020, our asset portfolio must generate at least a 5% annual free cash flow return to invest into the iwi wellbeing priorities.
Example: Unclear goal vs SMART goal
VS whānau who were...
•Spread their resources across many things
•Focused on finding and knocking over the ‘First Domino’
•Clear on these priorities
GAVE THE T-SHIRT AWAY
PROUD TO WEAR THE T-SHIRT
Maori Trusts where the whānau...
Vision
High level priorities
Priority #1:
Whānau
Wellbeing
Priority #2:
Culture &
Marae
Priority #3:
Environment
Priority #4:
Economic
Priority #5:
Education
Goals #1:
Warm housing
Employment for
whānau (beyond
seasonal jobs)
Better health
service delivery
Reducing alcohol
and drug abuse
Goals #2:
• Developing Māori
language capability
for each marae
• Whanau knowing
more about their
history
• Our iwi stories told
in our region
Goals #3:
• Decision-making
voice regarding
our environment
• Strong
partnerships with
environmental
stakeholders
• A healthy river
Goals #4:
• Having a growth
plan for our assets
• Identifying new
opportunities in
business and
employment• Whanau economic
success equal to the
national average
Goals #5:
• Profiling positive
iwi success stories
• Whanau education
mentors
• Identifying jobs to
help our people
into, and creating
pathways into these
vocations/jobs
Goals for each
1st domino = Pick the projects that progress multiple goals
at the same time, as illustrated in the example above
Key theme for today:
Focusing on the right things
= this cuts across leadership, innovation,
entrepreneurship, and social impact
Five ideas for accountants
1. Focus on free cash flow rather than balance sheet
growth (for Māori Trusts with social goals)
2. Facilitate client sales across your database
3. Bulk purchasing opportunities for clients
4. Give new clients two fee structure options:
= Either a large consulting fee or Discount + two referrals
5. Systemise your business – map out your processes,
remove bits that are not really needed, automate
repetitive parts, use low cost labour to do 80% of it.
“Eh Koro, take your medicine”
the thing that could have saved
this project… validation!
De-risking new ventures – through validating
In start ups…
Business plans = old school
The Lean Canvas – validating a new idea
Key theme for today:
Focusing on the right things
= 80 / 20 rule
= Trust insights (SMART goals + first domino)
= Five tips
= De-risking new ventures (lean canvas)
