At a time when many planners are looking at lessening their workloads, you’ve just taken on another big challenge in terms of your doctorate in business administration. Why are you doing it and what do you hope to achieve?
Obtaining my doctorate is my Everest. Academically, I find doing this study a real and exciting challenge.
Trust means different things to different people. What are the elements that make trust trust? How do you develop and commit? Why do you deal with your financial adviser and not with me, and what is it that both of you give each other?
I find it interesting. It gives you a rebirth and challenges your level of thinking. As a prerequisite to this study I’ve achieved my undergraduate degree and two masters degrees [in education and commerce].
Is it difficult to coexist in a commercial and academic environment?
No, not at all. The underlying philosophy is the same; that is, both environments allow you to do your best and it is that philosophy that inspires me. You’ve got to be fairly disciplined. It’s not difficult to put the two together. It’s challenging not so much from different perspectives but just getting through daily life of four kids and a dog and finding a period where you can find four hours.
Surely the cost is high in terms of money and time. How can this be repaid to you and to the industry?
Yes, the costs are high both in a monetary and time sense. Trying to find periods of uninterrupted time greater than three to four hours is almost impossible, but somehow you manage to find the time – mainly late at night and into the early morning. I guess if you want to achieve you have to be serious about your dedication, commitment and involvement. I think I have a good story to tell advisers about how people view trust at all levels. I think my interest of looking at micro business and how they build trust, commitment and reciprocity in their networks is important for all business, especially within the various stakeholders in the financial landscape. I think indirectly the research about getting stronger, thicker relationships should be interesting to people. What does a trusted adviser mean? What does it mean when people say they are honest? Can you be committed if you can’t trust someone? For example, if you got a group of people together for a particular task, each can be committed to the task but not to the other stakeholders.
You are the AFA NSW director. Is this role having any impact on your thesis?
Yes, I am the current NSW director for the AFA. I am also involved in the education committee for the AFA. Again, as I said previously, for me if you take on a role or responsibility you just find the time; as much as it is a challenge to do so, you simply commit yourself to complete the task and fulfil your personal and professional obligations. I am very fortunate to have great staff who help me fulfil my own goals and take seriously their own obligations in their own roles.
What is your thesis and what does it involve and how do you anticipate it will be viewed?
I started looking at home-based business as it’s one of the largest types of businesses in Australia. Eight hundred thousand buisnesses are classed as home businesses, according to the ABS figures of 2004, and I suspect the new census will show it is even higher. Eight years ago it was almost an apology to work from home; now it is a lifestyle choice. One of the criticisms that home-based businesses have is isolation; they don’t have connections with others. How do they build trust? My thesis is concerned with examining how micro businesses build trust, commitment and reciprocity with each other in their networks. It is my understanding that very little research has been undertaken into this area. We often say how important trust is in relationships, but little is really understood and how it is developed, and maintained in networks, whether formal or informal. I am really excited because I’m using a mixed method approach that is both qualitative and quantitative. I believe it will contribute considerably to our profession because it will help further understand how businesses build trust, commitment and reciprocity in relationships.
What is the reaction of those around you, professionally and personally?
Quality relationships between people is the key: how this is conducted is the question. Academically, my supervisor, Lynn Gribble, is excited about my thesis. Personally, I am very excited because I really enjoy business, specifically home-based business. I really like to observe how people try to build trust, commitment and reciprocity in their network development. To me trust is the key to any relationship or the lack of it.
Is this something you would advise others to do?
Yes, very much. This experience has taught and continues to teach me many things about myself and others. Firstly, stretching yourself and reaching personal goals is important to me; whether it is to whistle better, jump higher or learn more. Developing yourself is a real challenge and one that should be part of your daily activities, whether personal or professional. People talk to me about balance, but to me balance is also about the quality of time that is devoted to other areas of your life, not the quantity of time. That’s important to understand and comprehend. Another area, if I put on my adviser’s hat, is to evaluate the Financial Services Reform Act from various stakeholders’ points of view.
