Student Dan Luoni writes about Just Water International CEO, Tony Falkenstein:

Education

Tony Falkenstein began by sharing with the group his experience of the traditional education system. He told us that in his experience schools fail to foster the creativity that he sees as an essential tool of the successful entrepreneur. This is a point that Tony is passionate about and one which he went on to illustrate in vivid detail, explaining that the ability “to think like a three of four year old” needed to be treasured. He went on to tell us of the time he spent studying simultaneously as a pastry chef and obtaining a BCom in accounting, but that what has served him in best has been the relationships that he has been able to build from the beginning of his career.

Business

Tony’s first foray into international business came when he was promoted to the position of General Manager of Polaroid New Zealand. He was immediately able to make his mark by suggesting that the company rent out its cameras in order to maximize their profit in film sales. The company’s revenue immediately doubled. Tony’s next major success came when he was able to buy a fax machine rental company from receivers for $1. This company quickly bloomed and through it he was able to start work on ventures that have became the notable success stories of Barter Card and Just Water. Tony is also quick to point out that he has had his fair share of failed ventures but that these were valuable stepping-stones on his path to success and that “every experience is good experience.”

Philosophy

Tony’s philosophy on business was succinctly presented using the four P’s. He was adamant that if Product, Price, Promotion and Place were all given adequate attention an entrepreneurial venture couldn’t help but succeed. He also said that the difference between being a businessman and an entrepreneur is that a businessman satisfies a need while and entrepreneur creates a need and then satisfies it. With this in mind it became apparent to us that by following Tony’s philosophy the potential for innovation and growth were infinite, an exciting prospect that the VTM-NZ voices students are keen to test out.

Quotes

“I get out of bed every morning because my job is like a big game of monopoly.”

“Keep it simple, enjoy what you’re doing and make a profit.”