Jenny Sutton @  Jeves Inc.
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Ambition - what does it mean to New Zealanders and why it matters

21/1/2019

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A few thoughts about why I sponsored a study of Ambition in New Zealand and an update re timing of the book's release in March including a link to preorder a copy.

Ambition as a concept has always intrigued me. It can be perceived as an incredibly powerful way to set goals, to take people outside their comfort zones and to achieve great things for other people, business and society.

People might have an aversion to the word (many do) - but the reality is if ambition is well meaning and well focussed it is a significant and game-changing asset.

At the start of the project when thinking of ambition one gem I recalled was the terrific TED talk by Dame Stephanie Shirley - “Why do ambitious women have flat heads”. It was a take on her experience founding a highly successful all women tech company in the UK in the 1960’s and finding men would pat women on the head in a slightly patronising manner as they pitched for business. Dame Stephanie’s company went on to list (and be valued at several billion) - her story of the development of her company after being a child refugee is impressive because it is a tremendous example of resilience, focus, determination, vision and strength of character - or, to put it another way, ambition. Her TED talk is worth watching and I recommend it often to people in tech and leadership areas - it's an engaging and strong presentation with a good dollop of humour included. What she says applies across the spectrum - to both men and women forging new pathways or creating new ventures. (One of the areas I’m involved in.)
www.ted.com/talks/dame_stephanie_shirley_why_do_ambitious_women_have_flat_heads?language=en#t-807193


At times I’ve been involved in and had leading roles in various sectors - and along the way I’ve been fortunate to work with some talented people - it is fair to say I've seen the good and bad sides of ambition in action across sectors. When I started in law in the late 1980’s - women commercial litigation partners were few (none in my firm - one of largest firms), and top tier women commercial litigators working cross-border were even rarer - zero as I recall - (there were no examples to follow and no-one easing the way). I was fortunate and one of the few - part of that is luck, being in the right place at the right time and taking opportunities as they arose, but I’m aware a lot came down to hard graft and focus.

Ambition can mean many things to many people - dependent on their circumstances (and life can throw curve balls every now and then). Every person will have a different view of ambition (some good, some bad, some grounded in their own experience and some because of what they have seen) and no one person will have all the answers - that is precisely why it is an intriguing concept.

My areas of interest have morphed and broadened over time, and I’m now involved in a myriad of diverse areas. Each year I tend to sponsor at least one initiative in an ideas based think-tank/change-agent area. In 2018 I agreed to be principal sponsor and an advisor to AmbitionNZ. Authors Julie Fry and Hayden Glass have now competed the book - “Ambition - what New Zealanders think and why it matters.” It’s been a pleasure to back this project and to help shape it. The book will be released on 8 March in New Zealand - and is available for preorder via the ambition.nz website. There will be digital and print books available for purchase and the book will be available at various good bookstores - you will be able to find more information on the site nearer the release date.

In a nutshell the aim of the book and the project is to start a conversation - it is a study of what ambition means to New Zealanders to get people thinking, talking and putting ideas into action. It might encourage people (perhaps you) to step outside comfort zones and to realise New Zealanders have and will continue to achieve and make a difference on the world stage and in New Zealand.

Enjoy the book - it has plenty of food for thought in it - and best wishes for 2019.

.

Jenny Sutton



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Venture Investor - What's in a name?

23/8/2016

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Over recent years I've had a number of people (many well known in their respective fields) describe me as amongst other things an impact investor, philanthropist or angel investor.  Quite often on hearing this I would smile wryly and we would end up in an animated and engaging discussion as to what each title meant.  More often than not if a tag was needed to describe my input I would simply describe myself as a "backer" (often I was quite a substantial backer.)


This has now happened in a number of the areas I work in and it reinforced to me that the tags we apply to people are of themselves intriguing.  But that is a discussion for another day.  What I wish to touch on here is why I've settled on the term "venture investor" (as opposed to angel or impact investor - or indeed philanthropist.)


To give you some background we need to go back a few years, well a decade.  It's nearly a decade since I decided to adopt the "giving pledge" model, although at that time it had not been talked about or named.  I set up a structure which means certain charities or purpose driven entities will benefit if I was (to put it colloquially) run over by a bus, and before.  I was at that time skirting the 40 year old mark and I had had a fairly serious health alert.  To me it made absolute sense - and it still does.  It is part of my persona - although until now I have not spoken of it widely.


Even then I would not have called myself a philanthropist, and I still have some difficulty with the tag - to the amusement of some. 


The approach I've taken has been built in part on some fabulous writings, and I include amongst them an article first published in the Washington Post in 2013 by a young fellow who is now well known - "Join Wall Street. Save the World" was the title.  In essence the fellow used his investment skills as a young wall street analyst to fund his generous and innovative philanthropy.  There is nothing new in this, it is just that not many people (especially so young) talk about what they do and most do not do it to the incredible extent of this particular individual.


As someone who had always been a keen and strong investor the concept of investing for purpose seemed obvious, as did socially responsible investing. (My father had been a bishop for 25 years, so from a very early age I had instilled in me the concept of giving.)  But for me the real purpose and importance of giving came not from my father's occupation, but from other life experiences I've had.


Once I had settled on the giving pledge concept I decided how to optimise the situation.  By chance in 2012 I read a book by the Harvard Professor Michael J Sandel "What money can't buy - the moral limits of the markets" - it's a book I've recommended to many people over the years (possibly some of you reading this today).  He touched on the unethical use of money which pervades society, but from it it reinforced to me the real opportunity for people to invest in the right way enabling ventures to have impact - in other words, impact investing.  Again at that time (2012) the term "impact investing" was not in common use, and it was not used by anyone I knew.  To me though it sat well alongside the giving pledge.


Then came the debates - was impact investing the same as angel investing?  The reality is they are different - quite different.   Angel investors (of which I am one) have a formula they follow and most often a venture which requires impact investing simply will not meet that formula.   So, in short I'm an angel investor and an impact investor, or as I prefer to be called - a venture investor (and I sometimes add "with a philanthropic twist"!)


As many of you will know the philosophy behind angel investing differs from impact investing.  While angel investing and philanthropy on any strict analysis have nothing in common, impact investing has strong and important synergies with philanthropy.  The reality is many philanthropists are impact investors and vice versa - the two sit well together and complement one another. 


Hopefully in time impact investing will become commonplace - it's enormously rewarding to see and talk with some of those behind cutting-edge ventures with real purpose.  I also hope more people in New Zealand will consider or encourage the giving pledge model.  If this post has resulted in you discussing what you define as impact investing, whether you would do it or what you think of the living pledge, then my penning this has served a purpose.

Hope this is of interest, and I'm happy to field any comments. 

Best regards,


Jenny S


















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LinkedIn Pulse Posts

20/1/2016

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Below are three posts I published on Linkedin Pulse during 2015.
(For a direct link through to view all three posts click here._)

First off - "Philanthropy meets Capitalism - a Summit of Highlights"  - a commentary following the Philanthropy Summit held in NZ in April 2015.   It emphasises the natural fit between philanthropy and entrepreneurship._https://www.linkedin.com/pulse/summit-highlights-philanthropy-meets-capitalism-sutton

Next up: a few thoughts on leadership (June 2015).  "From Jazz to International Law and Commerce : Hitting the High Notes."_https://www.linkedin.com/pulse/jazz-international-law-commerce-hitting-high-notes-sutton

Finally, "The Future Fund : Backing our Future Leaders".   A post to support the development of young entrepreneurs in NZ. (1 September 2015)_
https://www.linkedin.com/pulse/future-fund-backing-our-leaders-jennifer-jenny-sutton

 

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