s/Busy/Full

2014 Annual Report

“Beware the barrenness of a busy life.”
– Socrates

“Don’t say you’re busy. Say you’re getting lots done. If the latter isn’t true the former is irrelevant.”
— Not Socrates

I managed a whole year without using the word “busy” to describe how I was. It’s amazing how much more you can get done when you’re not constantly complaining about how busy you are!

What started so well, with a long relaxing break, mostly spent doing nothing of note, was quickly swallowed by a very full schedule. I don’t know how that looked from the outside, but from the inside trying to do a few too many things at once did eventually wear me down. Because the next thing was always hovering I didn’t always appreciate what I completed during the year, so hopefully writing all of this down helps to put that right…

Work

My work in 2014 was nearly all LLB and bugger all BSc(CompSci).

At the top of the list, it was a huge year for Vend. Deja vu!

The early part was once again dominated by capital raising. It was very exciting to close a US$20m round in March. We are humbled to have the support of some great investors, and it was excellent to add Valar to that list this year.

With more fuel on board, we doubled the team. Again! In fact, we doubled just about all of the key numbers. There are now 12,000+ stores using Vend in over 100 countries around the world. We opened new offices in Toronto, Berlin, London and Wellington. We processed more than 60 million sales through the platform during the year. It’s really come a long way, and it still feels like we’re just getting started.

There were many opportunities to dress up and accept awards – Vend won the Emerging Company of the Year and the Exporter of the Year under $5m (for the last time!) at the Hi-Tech Awards in Christchurch in May, where we surely secured the homepage spot for another year with our official photograph; Vaughan won the Technology category at the EY Entrepreneur of the Year Awards in October; and we celebrated with a table full of women working in technology; and in November we picked up 4th place at the Deloitte Fast50, with 1097% growth.

I’m relishing my role as Chairman. I’m committed. I’m learning a lot.

It was also a year which saw Timely start to get a bit more attention. So much so that it’s already nostalgic to look back at my debut in the ODT in February.

Shortly after that we announced a $1.3m capital raise. The team has more than tripled since then, with people distributed around New Zealand (in Dunedin, Wellington & Auckland) and also in new sales offices in Melbourne and London. There are now over 2000 salons, clinics, trainers and many other small business customers using the Timely booking platform. During the year they took more than 5 million appointments!

I was upgraded from advisor to director in October. I’m excited to be involved.

It wasn’t such a great year to be a Xero shareholder, but I suppose I still need to mention that here having given myself credit for backing them early over the last couple of years, as they were on on the way up. I remain long.

I invested in three new companies during the year: Atomic, Revert and Respondly. It was exciting to see them start to talk about what they are working on. Expect to hear more from me about these in 2015. I have high hopes for all of them.

I’m increasingly proud of the ventures I’ve backed, and will continue to focus on investing in the best companies, not the most companies. Overall, the portfolio doesn’t owe me anything at this point, which is a privileged position.

Southgate Labs has been the foundation for a lot of this over the last four years. Investing in Vend was literally the first decision we made together. We always talked about the possibility that one of our ventures or products would suck us all in. In the end it turned out to be a few different ventures. So it goes. It’s been a fun team to be part of and I can’t wait to see what they do next.

However, prior to that, we did finally manage to launch Dr SaaS, which we’ve been using internally with the ventures we work with for a while. Hopefully I can get a few more companies using that next year.

I work with amazing people. That alone justifies my founder-centric approach. They all do things that I can’t or wouldn’t, and increasingly haven’t, which makes it a bit odd, at times, to be an advisor. Nonetheless I enjoy my part.

Play

It was a great year of #sportsball. This started out as just a conscious attempt to get along to more live sport, which is something I love doing. But, it ended up taking on a life of its own. It was fun to see it embraced by a wide group of people, some of whom might have even surprised themselves.

I did see some great live world class sport: ASB Classic Tennis in Auckland, Black Caps Cricket v West Indies in Nelson, Speedway, Australian Open Tennis in Melbourne (where I was thrown a real live sports ball!), Black Caps Cricket v India in Wellington, A-League Football in Melbourne and also with the boys in Wellington and then Phoenix v West Ham in Auckland, Sevens in Wellington (more, more), Dragon Boats (more), AFL on Anzac Day in Wellington, Super 15 Rugby in Wellington and then All Blacks v England enjoyed with some old friends in Dunedin (although my choice of wardrobe had me sticking out a little) and even MLB Baseball in Toronto. Thanks to everybody who came along and enjoyed these with me.

Where I couldn’t get there in person, I soaked it up on the big screen, and there was a lot to take in during the year: the Winter Olympics, the Masters, the Football World Cup, the Commonwealth Games, the FA Cup (although the crowd didn’t exactly go wild for Arsenal), the US Open Tennis, and the Baseball World Series.

Of course, there is a lot more to #sportsball than sitting and watching…

In February a combined Vend/Southgate (+ some ring-ins) team ran around Lake Taupo, finishing the relay in 14h 3s (3 seconds, grrr!)

In March I ran the X-Race with my oldest son (an event at the intersection of endurance running and Lego which was great fun – we’re looking forward to the 2015 edition) and also ran the length of the Abel Tasman track with my brother, over two days (it was worth every kilometre just for this great photo).

And lots more: Skiing in Nelson Lakes, Queenstown, Wanaka (including a great day cross country at Snow Farm), Table Tennis in Toronto, Tennis in Wellington, Golf in Otaki, Ice Skating in Wellington, Mountain Biking up and down at Kaiteriteri and just down at Rameka, a couple of Sea Swims, Putt Putt in a few different places, including Picton and Paraparaumu (I honestly cannot recommend the latter to you unless very hung over), Pheasant Shooting with Rathmoy in Te Para, Rangitikei (there was some debate about whether this qualified as #sportsball, but we eventually settled on #sportsbang), and Sailing on San Francisco bay.

Towards the end of the year I got a bit more serious about training. I ran a new personal best time of 21m 22s for 5km in Wellington in August, more than 2 minutes faster than I’d previously run, thanks to some great pacing from Nick. And in December I ran The Goat from Whakapapa to Ohakune in 3h 11m.

Thanks to all of that I finished the year fit and weighing less than I started for the first time in a couple of years, which feels good.

We’ve enjoyed some good family holidays. Before Christmas we rode with a big group from Mt Cook to Omarama on the new Alps2Ocean Cycle Trail. We spent a great week on Hamilton Island with a different big group. And we end the year skiing in Whistler in Canada.

I spent a lot of time playing and listening to music, and in January we finally got along to our first (and last?) Big Day Out.

I also logged 104 movies. I don’t read much fiction, but I do watch it.

Home

We purchased the rest of a tennis court, burnt down one old house and made plans to build another. If only we were brave enough to film it, our ongoing project would make an epic episode of Grand Designs.

I installed iBeacons and tinkered with ambient status lights. It is quite fun living in the future, when I’m there.

Sadly few of the things above happened in Nelson, so doing so much meant a lot of time I wasn’t. According to TripIt I was away for 186 days during the year, which is an inauspicious new record. Just adding up the time I spent on planes and at airports represents a pretty significant opportunity cost.

Looking forward to 2015, I don’t think my schedule has ever been so well planned so far in advance. It’s definitely going to be another interesting one.

Beyond that, this is, I think, the penultimate annual report. Life goes on, but perhaps gets documented slightly differently. I still struggle to answer the “what do you do?” question that triggered this whole series of posts, but for entirely different reasons now.

Of course, there are pros and cons to a “full” life too. The pendulum swings back and forth. My new definition of luxury would be not feeling rushed.

Next year, I resolve, there will be more slack.

Promise.

Previous Annual Reports:

An odd little distorting sliver

As has become the New Years Eve tradition here, some 140-char musings I’d like to remember, selected from a total of 3,204 tweets from the last 12 months.

I remain confused about the payback for the 2,995 people who choose to follow, to be honest. Mostly it was song lyrics (old and older), or ranting about accelerators and reality television. C’est la vie.

 

And, while I’m at it, some of my favourites from others from the last year:

I’m @rowansimpson on Twitter, if you would like to join the conversation.

The Quiet Ones

In 1997 Apple launched a new advertising slogan: Think Different, celebrating the crazy ones like Picasso, Gandhi, Einstein and others. In hindsight this may have been the turning point, as they recovered from being lost and near bankruptcy to become one of the largest and most iconic companies in the world.

In 2010 Derek Sivers gave a great short TED talk, called How To Start A Movement, about the importance of first followers. As somebody who has never really started anything of note, but has been lucky enough to be an early follower a few times now, I was encouraged and inspired.

This is my juxtaposition of the two: Here’s To The Quiet Ones

Please share this, using the hashtag: #QuietOnes

These are the people featured in the video, many of whom are my heroes:

This is the text of the voiceover:

Here’s to the quiet ones.

The co-founders, the assistants, the collaborators.

The round pegs in the round holes.

The ones who see things as they are.

They work behind the scenes, helping the crazy ones with their rough edges.

You can overlook them, disregard them, trivialise or underestimate them.

But as you ignore them they quietly get on and change things.

They push the human race forward.

And while some may see them as the quiet ones,

We see genius.

Because they are the people that know that what matters most is what you achieve,

Not who gets the credit.

Enjoy!

Fine Words

All That Glitters


Tweet storms are fun, but I do miss blog posts. :-)

The Dark Net

NZVIF have released their latest Young Company Finance report. The report includes a list of all of the companies that raised new capital so far in 2014. It is an appallingly incomplete list. These are the companies that I know of they have missed:

I’m sure there are many others. Please add a comment to this post if you can give me more names. If you add up the amount raised by just those I’ve listed it comes to more than the $23m that is reported, meaning they miscalculate the amount of investment by at least half. No wonder officials are convinced there is a shortage of capital. They are overlooking all of the best companies who typically don’t need to resort to angel networks to raise money. This was the report on Stuff this morning: Angels give tech start-ups a good shot.

Investment in young companies by Dragons’ Den style investors topped $50 million in the year to June, according to a report by the New Zealand Venture Investment Fund (NZVIF) and the Angel Association.

Angels and Dragons, y’all. Apparently when it comes to young companies calling yourself simply an investor isn’t sexy enough. Just a thought, but maybe we should make it more about the companies and less about the investors.

UPDATED: added a few more companies and some links to media stories about these capital raises – in most cases this information is already in the public domain.

Full on Keynes

Here are three possible explanations for why we all feel so busy:

  1. We all spend too much precious time telling each other how busy we are, as if it were something to be proud of. (ref: this blog post)
  2. We all mistakenly believe we can have it all. And multitask. (we massively underestimate the switching costs)
  3. Men, of course! (at least according to this recent book review in the New Yorker – it’s unclear, as a man, who I should blame, but maybe I just need to lean in more, I don’t know?)

By the way, Keynes’ prediction was actually right, in my opinion: most of us struggle to do three hours of productive work per day. How else would we find the time for so much reality television otherwise?

As an experiment I’ve been trying to stop using the negative versions of the words we use to describe our activity, when we are unconsciously sympathising with each other: busy, stretched, slammed, etc. There are alternatives which are much more positive: full (as in full of interesting and awesome things), focussed, engaged.

Of course, using those words to describe your day does force you to consider how accurate they are as a description, and if not, maybe think again about how excited you are to be “busy”.

Give it a try.

Related Posts:

Enough?

2013 Annual Report

chickenhavingfun

Never has a full year report been more accurately named. I tried to squeeze a lot in.

There were lots of exhausting but invigorating adventures…

I completed three of the Great Walks, without putting on tramping boots. We paddled the Whanganui River in the rain in January, I rode both the Queen Charlotte and Heaphy Tracks during winter, and then in September I ran the Abel Tasman Coastal Track (in 4h 44m).

I was a regular visitor to the Kaiteriteri MTB park and also completed a couple of rides over the Copper Mine track. I managed one night ride, and look forward to more next winter.

In spring I took our oldest on his first overnight tramp – from Caanan to Castle Rocks Hut on the Abel Tasman Inland Track via Moa Park.

We visited friends in Boulder Colorado and while there walked to the continental divide at the Rocky Mountain National Park.

There were also some less wet and muddy trips…

I spent two weeks in Singapore, on a return visit to the Joyful Frog Digital Incubator.

In Autumn, we spent a week in a camper van trip through central Otago, including my first trip over the Lindis Pass.

We soaked up some heat in Bali in July and I enjoyed some time in the snow (both cross-county and downhill varieties) in Queenstown in August.

We were delighted to attend a couple of family weddings – Josie & Lo in Stinson Beach California and Cam & Michelle in Auckland.

I saw some live sport, including both the All Blacks (v Australia) and the All Whites (v Mexico) in Wellington.

But without question the highlight was the Americas Cup in San Francisco in September (unfortunately we couldn’t stay for the whole thing, but left feeling pretty confident about the outcome, with the score at 4-1).

There was no shortage of work either…

It was my first full year on the Powershop board. I’m learning a lot.

I spent quite a bit of time in Wellington with the team at Southgate.

Early in the year we launched Triage. The critical response to that was overwhelming and flattering and unexpected. We briefly topped the productivity category and were featured in the US app store during the first week. However, we discovered in the process that financial success doesn’t necessarily follow from that any more. It was, in the first instance, a selfish project and it’s still the first app I use every morning.

We worked with Glen on Company Box, and later in the year we launched Rabble. We continue our search for the next big thing.

It was also a huge year for Vend.

We worked hard during the first part of the year to raise additional capital to continue to fuel our growth. In the course of just a few days in May it was exciting to announce the successful completion of that $8m round, welcoming some awesome new investors into the mix as part of that, and then to be recognised at the Hi-Tech Awards dinner in Auckland where we picked up awards for both Innovative Hi-Tech Service Product and the Hi-Tech Exporter of the Year (under $5M revenues)

Startups are squiggly, and unfortunately people mostly only tend to talk about the clean and easy bits. Vend is no different. Over the last year we’ve more than doubled the size of the team and the business has grown even faster. That creates some chewy challenges for those of us lucky enough to be working on it. It’s been excellent to be part of the story so far. Stand by for what we have planned for 2014!

In June I made a new investment, in Timely, and have enjoyed working with them too as they have started to build their team and hit their straps. I have high hopes.

It was an unbelievable year for Xero, which masks a bunch of other poorer decisions when you look further down the list of companies I’ve invested in over the last few years. It already seems nostalgic to look back on old tweets celebrating the day it passed a $1B valuation, way back in March.

I enjoyed Webstock in February, where I also MC’d at the Startup Alley and got to chat on stage with Derek Sivers.

As I look around there are no shortage of opportunities. It’s definitely an exciting time to be involved in early-stage technology companies in New Zealand.

I spent way too much time in my inbox. I received 13,653 messages and sent just over 6,000. That’s about the same volume as for the last few years, but having eliminated nearly all of the noise it subjectively felt like more of these required consideration than in the past. Even if I assume just one minute per message that still accounts for over five and a half full working weeks.

tweeted, probably more than I should have. And blogged, much less than I could have.

I spent 168 days away from home (taking 95 flights, visiting 20 cities in 6 countries and travelling over 82,000km, according to TripIt). That’s nearly half again more than the 113 days away I reported just two years ago, which I already thought was too many then. Not all of that was work, but I doubt that distinction matters to a 9 year old and 6 year old.

And, even when I was at home, there was always a lot going on there too…

We finally officially warmed our new house in March, complete with jenga, fireworks and feijoas. The lasting legacy of that weekend is a new haircut (inspired by Andre Agassi) and a street sign (inspired by a flippant comment on twitter).

I kept mostly fit and healthy. It’s now four years since I first dipped under 80kg and I haven’t been back since. But this is the third year in a row that I’ve ended slightly heavier than I started, so it would be nice to break that trend in the coming year.

There was some downtime, including a disconnected week in June. But, not nearly enough.

I started the year aspiring to focus, and failed miserably. All of the things listed above combined to mean I spent big chunks of the year red lining, feeling more anxious than vital.

I did a little experiment during the year – giving myself five points every day (roughly equivalent to one point for every three hours awake) as a way to track how I was actually spending my time. It made for some slightly uncomfortable pauses when I was asked what I was up to – I knew exactly, but didn’t always want to admit it. Various work commitments soaked up just over 800 of the 1820 points for the year (~44%), which is difficult to justify in retrospect. I did manage to carve out a decent chunk of time for myself (~16%) and family and friends (~28%), although both of those were significantly lower in the first part of the year (thanks, Observer Effect!)

Perhaps in 2014 I’ll be a bit more selfish?

Previous Annual Reports: