Developing Enterprise Entrepreneurship

1
Developing Enterprise/Entrepreneurship
Facilitated by Willie Te Aho
2
key points made

• Speaker Rod Oram
• Entrepreneurship can be taught with 3
  preconditions
• Need the urge teachers, courses and mentors
  opportunities and resources.
• Types of Entrepreneurship necessity vs
  opportunity entrepreneurship.
• Need to turn high level entrepreneurship into
  valuable activity
• Recent survey shows Maori have the highest levels
  of entrepreneurship
• ambition and skill
• but higher failure rate in business lower uptake
  technology
• access to capital is difficult, higher rate or
  dormancy.

3
key points made

• Speaker Rod Oram
• Ambition encouragement through role modeling.
• Skills and education good entrepreneurs are
  bold but calculating. Entrepreneurship need
  business skills to carefully manage risks these
  can be taught more mentoring is available than
  in the past.
• Resources informal investors, need astute
  management skills.
• Priority strategies for Maori
• pursue ambitions, skills and resources in a
  balanced way
• explore different business models identify
  unique ways of putting a business together
• think internationally reach out to
  international markets
• think Maori offering something distinctly
  different to customers that is significantly
  better grow the ability to distinguish.
• Working the collective assets role of very good
  governance.

4
key points made

• Speaker Rod Oram
• Learning from the best
• be very open plugging into the wider world
• know what the best looks like
• vanguard companies have truly inspired
  products, real originality born out of Maori
  roots, very smart strategies for international
  markets, very astute management skills,
  confidence and skill to collaborate with other
  partners and companies.

5
key points made

• Speaker Graham Pryor
• Entrepreneurship - refers to a certain kind of
  active effort to create purposeful change through
  innovation - commitment to the systematic
  practice of innovation.
• For innovation to succeed it requires diligence,
  persistence, and stick-ability (to achieve what
  you set out to do).
• Enterprise in NZ many enterprises are short
  lived, many dont get past infancy.
• Need to concentrate on building Maori enterprises
  for much longer periods business paralleled
  with longevity build to survive for 100 years.
• Requires clear vision a global view, identify
  values and objectives as Maori, create the vision
  then strategize.
• Long-lived businesses are a community of people.
  They are not just about making money.

6
key points made

• Speaker Graham Pryor
• Need to ingrain basics inside the enterprise so
  that businesses manage with future generations in
  mind.
• Highly successful entrepreneurs take very low
  risks.
• Maori business need to think about the next
  generation - need to uphold organizational
  tikanga.
• Entrepreneurship can be learned need a reward
  system appropriate to aspirations.
• Learn from the best talk to them and study them
  carefully.
• Maori businesses need a global perspective
  networks.
• Maori businesses need to cluster together at the
  governance and operational levels, both as
  individuals and collectively.

7
key points made

• Speaker Graham Pryor
• Mai FM
• has long term strategies 100 yr strategies
• twin goals social and commercial (need to be
  balanced).
• is a flexible organization with the ability to
  move fast
• is very conservative in the management of risk
• has built informal links with media
  organizations, music industry,
• has diversified income streams and exploit as
  much as possible out of those business. This has
  in turn spurred the creation of new business eg
  record labels, research and technology
• focuses on growing the company and doing the
  things they do well.

8
key points made

• Speaker Hinerangi Edwards
• Can Entrepreneurship be taught?
• There is an element/energy/spirit but we need
  to action it. Strategy without action is a
  daydream.
• Elements to entrepreneurship good management,
  good administration need to find a balance
  evolving.
• Priorities - some different motivators in
  addition to creating wealth
• ability to create models that can add value to
  our collectives, eg hapu, whanau trusts
• creating space for Maori to succeed in whatever
  they do - as whoever they are
• dont be afraid to put our hands up and
  contribute even if we arent experts
• share eg with rangatahi the direction to our
  future
• collectivities of Maori businesses give an
  outlet to push out frustrations but also ensure
  that we dont reinvent the wheel, they allow us
  to go out in strength into the world.

9
key points made

• Speaker Hinerangi Edwards
• Creating new entrepreneurs
• allow people to make mistakes
• need to have teachers and mentors
• look at locus of control need strategies in
  place beyond settlements other types of
  development cant wait
• plan that a part of business time will be spent
  elsewhere iwi/whanau/hapu commitments
• create platforms so entrepreneurs can contribute
  to home but live their lives elsewhere we dont
  need to be physically bound in one place.

10

• Entrepreneur panel questions to panelists
• How do we increase the pool of skilled senior
  Maori professionals? Groom less experienced
  professionals, place Maori into larger businesses
  then bring them back.
• Whats more important, business or professional
  experience?
• Both key thing is the ability to learn very
  quickly.
• Importance of trust for both small businesses
  (individuals) and big business (build a culture
  of trust and reputation for the business).
• What is the impact of regulatory requirements on
  Maori business?
• regulations at local body level can be onerous -
  often dealing with people with limited
  understanding of how the business operates for no
  gain.
• regulatory requirements have the potential for
  major impact, We need to cost in the amount of
  time required to perform under regulations.
• sometimes regulatory regimes are attached to
  Maori businesses that are different from others
  in the market place.
• how can small businesses manage regulations more
  effectively?

11

• Entrepreneur panel questions to panelists
• What is the level of access by Maori to
  government services?
• Services that are currently in place are not
  always conducive to Maori business.
• Business boot camps.
• In relation to dormant Maori entrepreneurship
  from entrepreneurship study... are the Maori
  business ideas feasible? Why arent Maori
  business ideas progressing?
• Many business ideas arent feasible.
• Out of the wealth of ideas, occasionally there is
  a gem the ability to think through the ideas at
  an early stage and skills to develop the ideas
  are critical.
• Entrepreneurs are often starting from a lack of
  understanding.
• Needs a balance between a sounding board and not
  squelching peoples ideas.
• Need to be outward looking from a base of
  strength.
• Need to expand and transform the research
  industry.

12
key points made / agreed in workshops
How do we grow a new generation of entrepreneurs
over the next 20 years?

• Create a culture of expectation everyone is
  clear about what is expected of them and what is
  expected of others (children, parents, teachers).
• Encourage our young people to aspire to
  excellence.
• Expectations of success start at home with the
  whanau positive and encouraging.
• Publicize successful Maori businesses and
  entrepreneurs to build a climate of success.
• Extend our networks so we are able to share and
  consolidate our resources.
• Provide mentors who are exceptional role models.

13
key points made / agreed

• Building sustainable networks - access to people,
  to finances, to networks, to knowledge.
• Education in schools, professional development,
  in the homes -shifting mindsets.
• Creating the opportunities where there are
  tools/mechanisms eg incubators, think tanks.
• Community brokers - an avenue to test ideas.
• Stock-take/database of successful businesses.
• Need to celebrate success a lot more visibly,
  including role models and mentors.
• Education needs to come from a young age and go
  right across the spectrum.
• Developing a best practice tool kit being able
  to share good ideas and practice.

14
key points made / agreed

• Developing a coaching/mentoring system clinics
  using the sports model including networks and
  secondments.
• Create inspiration for young entrepreneurs tell
  stories and keep telling them.
• Include professional development in the education
  system within schools a programme which targets
  Maori, encourage practical application of skills.

15
Summary of key points agreed

• Create a culture of expectation and visibly
  celebrate success.
• Encourage the indigenization of entrepreneurship
  from a young age, starting within whanau and
  extending into the formal education system.
• Increase investment in coaching, mentoring and
  networking initiatives to promote
  entrepreneurship.