I've Been Running A Philanthropic Foundation For Over 1826 Days. Here's What I've Learned

In 2019, I co-founded the Good Business Foundation (GBF) with Stuart Mkojera-Thomson.?

We were filled with ambition. Passion. And the desire to create a positive impact in Australia and across the Asia-Pacific. We were only a few months into our journey when COVID-19 hit. The global pandemic threw a spanner in the works.

But through ups and downs, here’s what the last five years taught me.

1. Back the jockey, not the horse.?

Ideas are easy.?

Execution is hard.?

We identified that people make projects. But projects don’t make people. Whenever we evaluate an idea or proposal, we look at the person and team. We want to know who will make it all work behind the scenes.

Why? Well, someone once told me:?

“A good jockey can make a mediocre horse look world-class. A bad jockey can make a world-class horse look mediocre.”

People can make or break an idea.?

At the GBF, we’ve funded projects that were not promising on paper. But we believed enough in the person. They executed well and have been some of our most successful projects. On the other hand, what looked very promising on paper didn’t materialise in reality.

People aren’t something. They are everything.

2. You don’t just build a Foundation. You are building a network.

You can't achieve impact alone.?

No one can.?

While we fund projects ourselves, we rely on collaboration with delivery partners and other philanthropists and investors to make, deliver, and scale our impact.

The impact we’ve created across the world has relied on building relationships.?

From Timor-Leste to Indonesia and Kenya, we’ve partnered with vetted delivery partners like Good Return, ygap, and First Australians Capital. We don’t try to pretend we are the experts at everything.?

Instead, we focus on what we do best and support our partners in doing their jobs.

While collaboration is easy to say, it’s much harder to implement. Meaningful collaboration happens at the speed of trust. You can put all the contracts in place, but if there’s not trust, there’s limited collaboration. No matter how air tight the contract.

That’s why we invest time in building relationships.?

The impact created today is the result of relationships invested in a year ago.

3. Marry a mission?

I’m focused on impacting small-to-medium enterprises (SME) that are commercially minded but impact oriented. They must have these qualities in equal measure.

I’ve been passionate about the role of SMEs for decades. From a young age, I witnessed my dad grow our small family business from one small shop front in Fitzroy to a multinational company that still exists today.?

While he triumphed, he endured a lot of struggles as his business grew..

SMEs are the backbone of our economy, and also local communities. In the Global South, they are the economic and social hubs of the local community. Often providing the stabilising force needed for children and families to thrive.

Despite their importance, SMEs are often overlooked.?

They fit into what I’ve observed as the ‘Missing Middle’. They are too small to be considered big. And too big to be considered small. This means they can miss out on support from governments and international NGOs as well as financing opportunities.?

But if we can get SMEs to thrive, the whole economy will thrive.?

That’s the mission I’m focused on.?

Without a clear mission, you’ll never have a definition of success.?

4. The stories we tell ourselves matter?

A lot of our work is shifting hearts as well as minds.

We’ve been sold a narrative that business, sustainability, and social impact are separate for far too long. We’ve been sold a story of our world, that more consumption is better for lives and the environment.

We’ve started to realise that this narrative isn’t sustainable. It doesn’t fit the values we hold deep down.

Through my work, I’ve started to promote the story of the Citizen. Pioneered by Jon Alexander, the Citizen story embraces the idea that individuals and businesses desire to be active, and positive agents, in their communities.?

This Citizen story aligns perfectly with the broader goals of promoting inclusive growth, fostering community resilience, and ensuring a just transition to a sustainable future.?

The reality is, our world is undergoing radical transitions—from climate change to technological shifts—and we need to ensure that everyone, particularly those who are often marginalised, are part of this journey.

That’s why we have a strong focus on supporting women-led businesses. We must all be at the table if we are to find the solutions to our collective future.

5. Focus

I often struggle with this the most.?

I have many interests. There are so many good causes to support.?

But as someone also told me once;

A focused fool can get further than a distracted genius.

In a world full of distractions, focus becomes a superpower. It’s not about being the smartest or having the most ideas. It’s about having the discipline to concentrate on the few things that truly matter.

At the GBF we develop a focused strategy and associated activities.?

We do our best to stick to it.??

These plans are more than just words on a page. They serve as our roadmap, ensuring that we stay aligned with our goals and consistently progress throughout the year.?

By setting clear priorities and breaking down larger goals into actionable steps, we’re able to maintain focus and momentum.?

Through the everyday noise we are known for what we do.?

Through focused action we build depth of what we know.

It’s been quite the journey.

After 1826 days,?

At a recent Strategic Planning day at our favourite cafe in Beech Forest, I couldn’t help but be proud of the work that Stu, I and our partners have done. We’ve created something from nothing.?

If I could go back and give myself advice, here’s what I would say:?

1. Focus on the person, not just the project.?
2. Investing in collaboration pays the best dividends.
3. Find a mission that resonates with you and marry it.
4. Interrogate and influence a dominant story currently shaping society.
5. Focus is a superpower in a world full of cheap distractions.

It hasn’t always been easy. We’ve not seen eye to eye on everything.

But anything worthwhile is never easy.?

Till next time,?

Peter.

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