Burning bright
Mary Gordon has built a successful business but concentrates on family rather than finances, writes Rob Stock.
Candlestick maker and professional director Mary Gordon, credits her soldier father for raising her to stand on her own two feet.
She wasn’t brought up to marry a man who would look after her, and a soldier’s discipline, respect and resilience in the face of challenge were things he expected of his children.
Gordon built a career in financial services, including with AMP in New Zealand, before working as a senior executive and professional director.
Her love of design, combined with having to cope with sinus trouble that flared up when she burnt artificial candles at home, led her to launch the brand Abbey Rose, which makes environmentally friendly scented candles, room sprays and fragrance diffusers. Do you consider yourself financially savvy? Yes. I come from a financial services background spanning 20 years, from establishing a mobile mortgage manager’s division for the retail arm of a NZ bank, to managing the distribution channel for a financial services company and right through to treasury management in Melbourne. In my current role as managing director, and being a professional director and member of the Institute of Directors as a chartered director, I constantly need to review companies’ financial positions and give advice on financial matters. Did your upbringing shape your attitude to money? My father was a sergeant during World War II. Then he became a self-employed tradesman and my mum was a homemaker. They had me very late in their lives in the 1960s, But when they were getting themselves established in the late 1940s and 1950s, they had to raise a young family of three, and had to save for everything they wanted because they didn’t have a lot of money. That’s what you did then.
Loans weren’t readily available like they are today. I learnt from a very young age about discipline, respect, and never giving up in the face of a challenge. My parents made me work for what I wanted. I received no handouts, therefore I appreciated what money I earned and I certainly had no feelings of entitlement. Where did you get your entrepreneurial streak? I saw that most of the really successful people in life I admired were entrepreneurial and achieved their success from following their dreams or goals. They kept on going even in the face of adversity. If I wanted to make it I had to do the same.
My father made it very clear to me that to succeed in life I needed tomakeitonmyown...He didn’t believe in marrying his daughters off so their husbands could provide for them. He instilled in me that I needed to do things for myself, that I could do anything I wanted and be totally independent. What’s the best money advice you have ever been given? Start a superannuation scheme as soon as you can. What was the first paid work you did? When I was at high school I got after school work as a cleaner at the Waikato Hospital. Is money important to you? To do what you want in life you need money. Without it you have very limited choices.
I think it is important to follow your dreams, ideas and goals. Consistently drive to achieve these and enjoy what you do, and then money will follow. I tend to focus on my family, close friends, achieving my aspirations and goals and to enjoy life, rather than focusing on money. How do you sum up your feelings towards spending? I love to shop, so I have no problem spending money if I believe it’s worthwhile and value. I took my six-year-old great-niece shopping two weeks ago, but on this occasion she wanted me to buy her a stuffed toy for $120. I explained to her that it wasn’t worth the money. I said if she wanted it then she needed to save her pocket money and buy it herself. You sell affordable luxuries. Go on, sell them to us. I think candles are an affordable luxury. They have the ability to transform your space, to create a feeling of romance and opulence. The flickering flame and light that reflects all around the room is just beautiful and evokes so many different emotions, as well as the beautiful fragrance that lifts your spirits and provokes your imagination. What’s the best, and worst, investments you have made? The best investment has been in the Auckland residential property market by just owning a home. The worst investment was buying artwork from an art dealer that wasn’t totally honest. If a child asked you the best way to make money, what would you say? Do odd jobs and think of ways to add value to other people’s life so that they will pay for this. I always like those children you see selling lemonade they’ve made from their parents’ lemon trees. Are you a collector and if so, do you do it to make money of it or for personal enjoyment? I collect vintage costume jewellery. I do it because I love the pieces and get so much satisfaction and enjoyment from collecting and wearing them. What’s the biggest lie people tell about money? The biggest lie people tell about money is that money doesn’t matter in life. It does. It gives you choices and opportunities to do things and help others. If you were prime minister for a day, and could do one thing that would transform people’s money lives, what would it be? I would bring in a compulsory KiwiSaver scheme, as many New Zealanders are currently failing to save for their retirement.
‘The biggest lie people tell about money is that money doesn’t matter in life. It does. It gives you choices and opportunities to do things and help others.’