doing the right things - nz maori accountants

Ahipara

(Shay Wright,

Te Rarawa)

Whangara

(Travis O’Keefe,

Ngāti Porou)

“Eh Koro, take your medicine”

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)