Ian Macoun, the founder of Pinnacle Investment Management, says people are successful in business “because they believe in something they’re passionate about”.
In his younger years, the founder andhad aspirations of becoming the head of the treasury department in Queensland. But one thing led to another and the budding civil servant, with a master’s of financial management under his belt, ended up being installed as the inaugural chief executive of investment company QIC.
“People are successful in business because they believe in something they’re passionate about and [believe] that [their product or service] is something that customers need and want. “You need core beliefs about what you’re doing and why, and what you need to do to be successful because you’ll be buffeted by all sorts of problems along the way,” he said.Mr Macoun said it was critical for business owners to be self-aware. All too often, he said, founders were not the right people to take the business through different growth periods because they might lack key leadership and operational skills.
“Often, founders are good at markets and technology, but then it’s a much bigger task. People are everything. Leadership is absolutely vital.” He didn’t give details about succession planning at Pinnacle, but said the process was under way. Last year, the market veteran pledged he would stay until at least 2023 – and it may well be for longer. But it won’t be forever, and he said he still maintained big ambitions for the company.“We always had a vision for it to be much bigger and much more diversified. We’re only at the early stages really. We want it to be so much more.
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