NOVEMBER BULLETIN

Meet the founder of Australia's much-loved Gelista gelato and learn how he built a brand that serves 100,000 scoops a week!

CEO's Report

October is usually spent at a slower pace after the demands of the awards cycle, with the focus now turning to annual accounts finalisation, AGM preparation, application system improvements, website updates, and Scholars Network Committee agenda preparation. While the urgency of these activities is not immediate, Suzi and I have discovered that many tasks which were put on the backburner during the busy June to September period now need attention. We are also focusing on a systems upgrade and aim to present a recommendation to the Board in November. Last month I commented that we were having trouble with Scholar communications being blocked by spam filters. Ryan Jones has kindly offered to provide assistance, which we are taking up. At the October Board meeting, changes were approved to the composition of the Scholars Network Committee, which I have outlined later in this edition.

Out and about

Here's a recap of the past month's meetings, functions and events:

• I met with William Buck, DMAW Lawyers and Grant Thornton to discuss their ongoing sponsorships for the Scholars Network. Pleasingly they are very impressed by what the ILF is doing for SA, which in my view is code for they are impressed by the achievements of our Scholars, and all three organisations are keen to continue providing support. They also agreed to increase the contribution per event, recognising that more Scholars are now in attendance and the cost per person has increased.
• I joined the EverEdge Battlefield Ready Masterclass for new 2022 Scholars, summarised in a separate article.
• I hosted an inspiring lunchtime talk by Yvette van Eenennaam (ILF2021) and Tamara Leclercq (ILF2021) about Adelaide BioMed City. The depth of medical-related research, entrepreneurialism and investment in Adelaide was mind-boggling. The fact the lions share of the investment is from the private sector is very reassuring.
• I attended the launch of a new world-leading Missile Launch Pod developed by Supashock and the announcement of an export order for 82 of the pods to be fitted to Lynx Infantry Fighting Vehicles for the Hungarian Army. The event featured a moving speech by Oscar Fiorinotto (ILF2017), MD of Supashock, and the unveiling of the Missile Launch Pod (pictured) which was driven into place at the front of the crowd on a golf buggy-size autonomous vehicle, where it proceeded with a bang to fire red streamers. The bang jolted the audience and I suspect I wasn't the only one who came close to needing new underwear! 
   

• I attended a French-Australian Chamber of Commerce & Industry space delegation event. There was a huge delegation of interstate visitors and clearly there is a strong French connection into the Australian space industry.
• I was invited with Lisa by Frank and Cathy Seeley to celebrate the 50^th anniversary of Seeley International at a dinner at Ayers House. Jon Seeley (ILF2014) reminded us about many of the significant headline events that have occurred over the past 50 years, several of which make today’s challenges look like a rerun. Frank gave an entertaining speech with philosophical observations about how to be successful. The first was that problems ahead might look like huge mountains that need to be scaled until they have passed and look like a rut in the road. To be successful, we therefore need to manage problems ahead as if they were behind us. The second tip is to view problems as opportunities. Frank outlined many problems he and the business had overcome during the journey and made it clear that his success is due in large part to the support of his wife Cathy. I congratulate Frank on his vision, determination, success and philanthropic generosity which has brought huge benefits to SA.
• I went to The Circle - First Nations Business Showcase at the Adelaide Entertainment Centre in the same halls as the 2022 ILF Awards Ceremony. This event included displays by a huge 96 Indigenous-led or owned enterprises, including several where it appears the leaders could meet the eligibility criteria for an ILF grant.

Beyond business

October allowed a bit more private time than the preceding months. Lisa and I went to Sydney on the long weekend to see our daughter Melissa for the first time in three years, and the next weekend to Melbourne to see my brother Mark also after three years. The weather on both occasions was cool but relatively dry. We flew Virgin on the Sydney trip and REX to Melbourne. We both thought REX was better than Virgin.

We celebrated our second son Marcus' birthday at the Coorong Café on Hindmarsh Island and afterwards at the Murray Delta Juke Joint in Goolwa. The former serves excellent food with great views of the Murray Mouth, while the latter venue reminded me of a visit to a back block blues club I visited with a local in Austin, Texas, in 1995.

Months of hard work came to fruition at KeyInvest, of which I am Director, when special general meetings approved a merger of KeyInvest with Australian Friendly Society, which was previously based in Victoria. The transaction virtually doubles the size of KeyInvest and all operations will be conducted from Adelaide which nicely aligns with the ILF objectives. KeyInvest now has a bigger head office and generates more wealth and employment here. 

Finally, we enjoyed watching grandson Noah’s basketball team achieve a narrow win. The other team was being coached by Brenton Cooper (ILF2022) and included his son. It looked like their team was focused on practicing skills and having fun more than winning.            

My life in the Army

Last month I mentioned that a Scholar had suggested I should explain my life in the Army, so here is episode one. Please let me know if you like it or hate it.

I enlisted in December 1970 with a regimental number of 437005. We were told we had to remember that number, along with our name and rank, because that's all we could tell the enemy if we were ever taken prisoner. Not a very happy introduction to a new way of life! I actually joined the Citizen Military Forces (now the Army Reserve) as it offered a legal way of avoiding fighting in the Vietnam War provided I did a two-week camp and at least 12 other training days per year. On seeing the Củ Chi tunnels in 2014 I thought that was an excellent decision. The initial interview with the Adjutant at the Adelaide University Regiment (AUR) was interesting. I was wanting to get a role that meant having a good time without too much stress, something like being a truck driver or a radio operator. He kept telling me that I would do various courses and would be commissioned as an Officer in March 1972. I said again (in the Army, the word “repeat” is an order for the artillery to fire and as an infantryman as I later became aware that can be dangerous – there is a reason the artillery are called drop shorts) that was not my plan. I asked about other units I could join that would not involve officer training. He said they all held their annual 14-day camp in October, which was not good for uni exams held in early November. Long story short I joined AUR. In the next edition, unless feedback says otherwise, you'll learn whether my desire for a simple life succeeded over the Adjutant’s plan to have me commissioned.         

Geoff Vogt

Scholar in the Spotlight

Peter Cox
Managing Director, Gelista Premium Gelato
Leadership 21 Owner/Manager Course
Melbourne Business School, 2013

Growing up on a dairy farm, Peter Cox saw first-hand the blood, sweat and tears that goes into the farming industry, and knew he wanted to contribute. In this month’s Scholar in the Spotlight, we asked Peter how he came to found one of Australia’s best gelato brands. Here’s what he had to say.

What is your educational and career background?

I graduated as an accountant (B.Bus (Accounting), CPA, MBA) and then worked predominately for manufacturers in a number of industrial sectors, including a US multinational. My “apprenticeship” was with a dairy company (now a subsidiary of Fonterra) and during that time I had several roles, ending up with responsibility for the financial management of the firm before I left, which was probably a pretty responsible role for my age.   

How has your education, experience and past job roles led you to found a premium food brand?

I grew up on a dairy farm so I know how hard farmers work for their modest returns and I knew that I wanted to value-add to the Australian dairy industry. In 2009 I completed my last gig as an employee which was a financial system implementation. In the meantime I researched many dairy product streams but the opportunity to bring quality Italian style ice-creams to the local market piqued my interest. As an accountant I learnt the fundamentals of manufacturing and finance, which provided a great foundation for my fledgling business.

How has the knowledge gained from your ILF-supported studies contributed to your business operations and growth?

By the time 2013 came around I realised I had so much more to learn! In order to grow the business, I had to grow. I chose the Owner/Manager course to develop professionally and also revisit some of the basics. Reviewing my management style, looking at different models for dealing with everyday problems, and thinking about long-term strategy was helpful.  But far beyond that was the great people I networked with during the course and the ongoing ILF community, whom I love to catch up with at functions throughout the year.

How has Gelista grown since you started the business?

What we sold in one year in 2013 is about our average monthly sales today. Better marketing, continuous product and process innovation, and sticking to our core promise of indulging our customers has fuelled this growth. In October 2022 we moved our factory into a new facility in Ridleyton, SA. This will provide additional capacity and capability whilst increasing our efficiencies considerably. Today we are a team of 15 full-time employees, along with several contractors, and we manufacture more than 50 flavours which are distributed nationwide. We're also in the process of developing an export customer base. Our weekly output averages 15,000L on one shift – or about 100,000 scoops if you’re thinking about licking your way through it! In addition to the Gelista brand, we also have a brand called Bush Tucker Ice Cream, PōPSI COOL and other exciting product concepts to tell you about in the new year. Watch this space!

ILF Scholars Committee Changes

The Scholars Committee is the advisory committee that offers a vital link between the ILF Board, management and Scholar community. The committee provides advice on the training program and organised, amongst other things, the highly successful showcase event held in July 2022. As the ILF has evolved and the number of ILF Scholars has increased, the committee structure has evolved with the latest iteration approved by the ILF Board at its October meeting. The changes include:

• Shaun Westcott (ILF2018) will takeover as chair in February 2023 as the two-year term of David Hart (ILF2014) draws to a close. David has been a dedicated, hardworking chair. During his term the committee had to contend with COVID disruptions while delivering a very busy event program and adding the showcase to the schedule. As CEO I have certainly appreciated David’s feedback and support at meetings, and advice and guidance at other times. Shaun has been a very constructive contributor at Scholars Committee meetings and has been a strong supporter of ILF events, including a 2020 drive day and hosting the showcase. We look forward to his contribution.     
• Chantale Millard (ILF2017) has assumed responsibility for finances as treasurer, taking over from Anne Hinton (ILF2014). This appointment was brought forward with Anne’s agreement to ensure we do not replace both office bearer positions at the same time. Anne has been a great supporter as treasurer while Chantale is a strong and constructive committee member.
• With the number of Scholars growing to 261 at the September Awards Ceremony, the Board has agreed to share the workload by expanding the number of office bearers from two to four by adding a secretary and a functions member. Kelly Keates (ILF2012) has agreed to become secretary while Emilio de Stefano (ILF2014) will become the functions member. Kelly was a founding member of the committee and Emilio is, aside from David Hart, the longest continuous serving member.
• Position descriptions have been developed and approved for the office bearer positions for the first time. This will provide clarity about the roles and expectations of these committee members.

Five Scholars have agreed to join the committee:

1. Zoe Detmold (ILF2016)
2. Sarah Hibbard (ILF2019)
3. Peter Piliouras (ILF2014)
4. Charlie Sykes (ILF2018)
5. Michaela Webster (ILF2021)

The ILF sees the changes as being positive for the committee and the Scholars Network overall. Under the ILF constitution, the chair and treasurer are entitled to become ILF members and subject to further changes being approved at the AGM on 15 November, the additional office bearers will also be entitled to become members after 12 months as committee members and upon completion of their ILF-supported course. As ILF members, they are eligible to be nominated to fill a casual vacancy or stand for election to the Board.

On behalf of the ILF, I congratulate and thank the new members and office bearers for your willingness to contribute to the ILF Scholars Network and ultimately to the success of the ILF.

Battlefield Ready Masterclass recap

Written by Geoff Vogt

It was cold and wet on King William St as new Scholars gathered on 25 October for a breakfast seminar on intangible assets. A little understood topic, intangible assets drive competitive advantage which in turn pushes profitability and sustainability of businesses.

Thawing out on arrival with coffee, tea and an excellent breakfast, we were soon welcomed to Kain Lawyers by Director Gerry Cawson. I then introduced the speakers before handing over to Michael Masterson, Managing Director at EverEdge Global, for his masterclass on how to scale at speed while protecting market share, margins, and assets. I have seen Michael present three times in the past and each time it is like drinking from a fire hose! Despite the huge mental workload to keep up, the value of the presentation and the regular injections of humour ensured there was no hint of audience fatigue. After a break Michael was joined by Gerry and Karen Nelson-Field PhD (ILF2019), Founder and CEO of Amplified Intelligence, for a panel discussion.

Just two days after the masterclass Michael had been approached by a number of attendees for follow-up meetings, and one Scholar has contracted Michael for advice. It was easy to see why he is regarded as the top expert in his field and why these masterclasses are regularly filled by individuals who pay $5,000 per seat. On behalf of attendees, I thank Michael for generously providing the masterclass to our 2022 Scholars at no cost, and for his ongoing support of the ILF. Thanks also to Gerry and Karen for their insightful commentary, and to Kain Lawyers for hosting the event.

Upcoming Events

Mentoring Season 4 Finale

Expect a fun night of networking with a brief serious side as we seek and explore suggestions and guidance so Season 4 can be even more useful and user-friendly than Season 3.

Where: Deloitte, Level 17 Waymouth Street, Adelaide
When: 2 November from 5.30pm to 7pm

Full details were included in invitations sent on 12 October to program participants. If you participated and haven't seen the invite or responded, please let Suzi know ASAP if you are attending.

#MeetTheMedia Adelaide

The ILF Scholars Network has offered media training with Ron Kandelaars to great acclaim in prior years. More recently other topics have filled the training agenda, however a rerun with Ron is likely at some point in the future. In the meantime, if you want to gain new insights or a refresher into the media, #Meet The Media Adelaide may be of interest. Offers like this are not normally conveyed by the ILF but since this is a topic that has been missing from the ILFSN training schedule, and since it has been arranged by an ILF Scholar, an exception has been made. Organised by Business SA and Media Stable, the training is said to be Australia’s leading media introduction.

The training is recommended for business owners, expert commentators and authorities from all specialty sectors. Attendees will meet senior producers, editors, chiefs-of-staff, presenters, and journalists to hear about the pressures they are under, what makes them tick and what they look for in a story. Attendees will also learn how to best pitch a story, the preferred way to contact their desired media outlet, what the media expect and what to expect.

Where: Adelaide Oval, War Memorial Drive, North Adelaide
When: 17 November from 8.30am to 1pm
Cost: Tickets are usually $550, however Business SA CEO Andrew Kay (ILF2014) has advised us that there's a 48-hour flash sale on until Thursday (3 November) and ILF Scholars will receive 50% off the ticket price, reducing the cost to $275. After that, Scholars are eligible for 20% off ($440).
*Use the code ILFN at checkout for the special rates*

Meet the Buyer: Engaging in SA's Supply Chain

Meet the Buyer events have been offered regularly by the Office of the Industry Advocate and Food SA for many years. The Ai Group event, Meet the Buyer: Engaging in SA's Supply Chain, will feature senior leaders from key SA industries including mining, defence, government and export. It will address the changing requirements on suppliers as businesses ramp up for the post-COVID national economy and the challenges of decarbonisation, digitalisation and disruption. Featured companies include REDARC, Ventia, BAE Systems and GFG Alliance together with Austrade and the Industry Capability Network.

As the ILF receives regular requests to promote external events, we would not normally include a notice like this. An exception is being made on this occasion, in recognition of the heritage of the ILF Ai Group relationship and the unique nature of the offer.

Where: Adelaide Convention Centre, 92 North Tce, Adelaide
When: 24 November from 8am to 12.30pm (RSVP by 21 November)

Use the code Member241122 for the special price of $35 + GST.

Scholars' Christmas Party

The ILF Christmas function is one of the most popular events on the Scholars' Network calendar. Hosted by Gelista, the function will be held at the Croatian Club next to Gelista. From there we will visit the factory in groups to see how the best ice cream in the world is made. Peter has even offered to provide ice cream to take home. With great food, quality drinks and fabulous company, the event has everything needed for a proper party. What a way to celebrate the imminent end of gruelling year!

Where: The Croatian Club, 15 Wood Ave, Brompton, and Gelista Premium Gelato, 20 Forster Street, Ridleyton
When: 12 December from 5.30pm to 8pm
Sponsor: Grant Thornton

Final details will be revealed in the invitation soon.

Business in Brief

Diversity and greenwashing

The October edition of The Journal – the official publication of the Australian and New Zealand Institute of Insurance and Finance – delves into diversity and how to improve gender equality in the workplace. Another interesting article from The Journal outlines the traps and lesser-known consequences of 'greenwashing'.

Read The Journal articles on diversity and greenwashing.

A warning from the tax man

This Macks Advisory article explains how the ATO is ramping up tax recovery efforts, with punishments as harsh as liquidation of businesses or five years' jail time for one McLaren Vale restauranteur. You might think you're in the clear but have you considered the consequences if any of your customers are not?  

Read the Macks Advisory article.

Making friends with ESG foes

Using McDonald's as an example, this I by IMD article suggests that businesses should proactively build bridges with ESG activists before it's too late. The article says many companies seek out collaborations with foes to repair reputations, leaving it far too late to undo the damage that's already been done.

Read the I by IMD article.

Tips from England's richest man

This article from daily stock market newsletter Marcus Today eloquently wraps up tips on how to get rich, according to "The Richest Man in England" (who is probably not as wealthy as he once was). Tips include thinking beyond the square, scaling your business and – underpinning the importance of the ILF – educating yourself on what you don't know.

Read the Marcus Today article.

Lessons from Roman Britain

This insightful article from EverEdge demonstrates the often unrecognised value of intangible assets in a most entertaining way. In summary, it states that the downfall of Roman Britain stands as a warning to both business and political leaders alike: civilization and the wealth it bestows is a function of the accumulation of intangible assets, not physical ones.

Read the EverEdge article.

Nuclear energy debate continues

While the pro and anti nuclear energy debate continues, this article from the Electronics Industry Development Adelaide (EIDA) newsletter explains there's a lot that can be done to prepare legislation in case public opinion swings in favour of nuclear power plants. Preparations are underway to make these things happen. Is this the time to be thinking about business opportunities that could be as big as the space or defence industries?  

Read the EIDA article.

Scholars in the Media