The chronology dates back to last century.
I did a construction management degree. When I came out of university in Melbourne I went straight into work for Multiplex, and I was with them for about five years on their cadet program, rotating around all the functionalities within the construction business, from estimating to on site construction management and all the rest of it.
At one stage I decided that was too much like hard work. I was in my early twenties, working six days a week, starting at 7am, finishing at 6pm at wherever they decided to put me. For eighteen months I worked on a site that was an hour’s drive from my home, so I was starting at 6am… I don’t know who would be that masochistic to do that so young.
So I volunteered to go on their business development rotation and decided to do an MBA. Halfway through, I decided I needed to do it full time, so I went to business school in London. I spent a couple of years moving out of construction into finance; I was an executive within Earnst & Young’s corporate finance business for a couple of years, which was basically giving corporate finance advice.
After a couple of years in London, the weather got to me and I came back. The first role that came up was straight into banking with NAB in Sydney; that’s why I moved here. NAB had a program where they wanted to expand the skillset of all their bankers; having a construction background, I was one of five non-traditional property bankers they brought in.
After two years with NAB I was poached by CBA to start up their commercial broking business, which was 95% property within the corporate space, so it covered everything from SME to institutional. That’s what was interesting about it I think; it didn’t just cover one segment of the industry. After three or four years I joined Ash Morgan Winthop. If you could pick the day the GFC happened, I joined them one week prior, and I was there for about a year to run their property finance business.
Then I went back to CBA and ran Commonwealth Private in Melbourne for about two years while still living in Sydney, so I commuted on Monday, came back Friday each week.
I went back to CBA via an old colleague giving me an opportunity, and there was no intention of staying in Melbourne long-term. Just as I announced that I wanted to come back, they got me a role in Sydney. When they moved out of their role, the new guy that came in to run corporate CBA restructured things and my role no longer existed.
So I left CBA, and the next step was running the ultra-high net worth set with St George Private in Sydney. I spent about two or three years doing that before I moved back into corporate property at St George for another two or three years. Then I joined Dorado!
I went into construction because I had this very concrete view that I wanted to be able to see, touch, drive past something I contributed to… to show off, I guess.
I think that was a bit naïve, because that’s not why you should be doing what you do. That’s one aspect of it. The reason I moved into finance is that I realised that I wasn’t terribly intellectually challenged in construction at the time.
It’s actually better. My original view gave me the idea that you’re involved from the day that you dig dirt, without understanding there’s a hell of a lot that goes on before that.
When you finance property you get to see that “hell of a lot of stuff”. Very often finance doesn’t take you through from day zero to completion, but it takes you from day 5. I get a bit more out of it.
There’s a number of reasons. For a long time, I had to battle the unproductive side of a bank. That was getting harder and harder. Coupled with that was having no control whatsoever; I was becoming a post-box. Essentially everything you’re doing… you don’t have any true value to add along that chain.
In a smaller business, you’ve got a far more commercial approach to things, which allows for far more input that actually changes what you’re structuring. I wouldn’t say there’s necessarily less politics, but you also have a better view about what the politics are and it’s easier to navigate when you’ve got better visibility.
Yes I did. I had an involvement in a small start-up quite a while ago, where I put some trust in the wrong people, and it burnt me financially. I always wanted to, that was part of the reason for doing an MBA, but I think my one and only experience doing it made me gun-shy, so probably not again.
Nah I’m pretty similar. Maybe subconsciously that was an attraction of Dorado; that it could be so nimble to adopt new technologies into the process so early on.
I think just naturally I’ve always gravitated towards it. The small start-up I got involved in was nothing to do with property; it was in mobile self-storage, and I got involved in that because it was technologically driven insofar as innovation goes.
Yeah, to an extent. It wasn’t highly technical, but it was trying to capture value out of digital advancements in how people did business.
Look, there’s plenty of traditional businesses that can continue doing what they’re doing without adopting technology because they’ve built up brand equity, but you’d be pretty lucky if you didn’t want to adopt technology and kept your business buoyant now.
It’s gonna sound cliché but, doing a deal, you know? Concluding something. That’s when I get focused.
I know naturally, psychologically, the process is something I have to work on versus the output. I’m heavily skewed towards wanting the output and not caring about the process. I’m very cognisant of that.
So I know that’s what gets me out of bed, but the other thing is, when you start a project you have so many people that are drawing value out of what you’re doing; consultants, developers, Dorado itself, Dorado’s investors, all the rest of it. There’s an absolute view for me that collectively, if I let something drop, I let it drop for all of those people.
I wouldn’t say hard, but if there’s impatience that’s where it is. I get impatient if the final few hurdles draw things out. But part of dealing with that is knowing that it happens.
The other part of it is that with experience comes the fact that when you have things heading down a critical path, you have milestones, and those milestones become an output for me. So hitting a milestone gets me excited.
I used to. I think it’s now become a bit natural so it’s less formalised. I used to write my own personal business plans that included driving an outcome, for the business and for myself, and I used to do that voluntarily. Often no one would see it but me.
Oh they were reasonably extensive, but they were a way for me to contextualise what I was doing day by day and not forget why I was doing what I was doing.
It can be. But it’s easy to be black and white about it when you’re in a sales environment. If you’re in a cost-centre, like marketing for example, it’s a bit fuzzier. I could sit there in sales and go, “I will do X deals and get X outcome”; you guys can’t do that, and that makes things trickier.
Because now I’m used to it, it comes naturally. It all goes back to this emotional ‘tactileness’. I wanted to do construction because I wanted to be able to see, feel, touch what I was producing.
That’s the same here. I’m in a front-line sales role because I can see my results: there’s the bottom dollar, right? If I was in marketing or accounts, it would drive me crazy because you can’t say, here’s my final result, without subjectivity; you can’t see what you’re producing. I need that black and white view.
My brother, sister, and dad are all lawyers. So that’s the first thing. When I was younger that’s what drew me away from law because I’m a contrarian, I wanted nothing to do with it because they all did it. Now I’m probably just more mature and I don’t need to be contrary to my family just for the sake of it.
But I also took the view that what I do as a profession, law will never be of no value to me. There’s value in what I’m doing in my study no matter what, but it’s not always front-of-mind in terms of what I should be focusing on. And I don’t focus on it; I’m doing this reasonably progressively and slowly so it’s when I want to do it. It’s online, so that I can wake up at 2 a.m. if I’m not sleeping and study, rather than having to take away from what I do at work. But overall, it’s just intellectual curiosity.
My best friend at school is an architect who, about ten years ago decided to do some study just for intellectual stimulus, so he went and studied astrophysics. Now, he failed first year, but the very fact that he was just wanting to expand his own mental curiosity… he and I are good friends because we are similar in that way.
I’m not a scientist, and I’d never do astrophysics; it’s just down to… I get bored pretty easily. Part of what I do at Dorado is juggling multiple projects, and I think I handle it well. I’m able to go through three or four projects simultaneously at different stages, and that keeps me interested. It’s not right for some people, but it’s right for me.
Yeah, no I’m pretty similar. So I’m part of my surf club and help patrol there, and that’s another outlet for me.
If I ever had to have a discussion with somebody about the hours I’m working, it would be hard for me to describe it. I’m often not there 9-5, but maybe 7-4, and then on the phone on the way home and checking emails at home for a bit. In this role you have to be available at all times, and I actually really like that.
I deliberately went on holiday for two or three weeks a number of years ago and turned off any ability for people to contact me from work.
I hated it. Hated it. I came back to work with a genuine sense of panic and dread before I even walked in the door wondering what the hell I was going to be hit with. And I was hit with a lot!
Yeah absolutely. If someone tells me, “we need you do go away and have a break and de-stress”, I’d tell them, “well you’re doing the opposite by not letting me do that”. I’ll stress more if I don’t have that opportunity.
I don’t think you can do it in my role. I’m not charged with sitting down and working for hours on a model, which means shutting yourself away and concentrating to get it done. I actually can’t do that. One of the worst things for me this week was submitting a few assignments for my studies: one was a long essay and one was a short exam.
Well the quick exam was awesome, I thought, “I only need to concentrate fully on this for an hour and then it’s done”, and I blew it out of the water. The long essay? I’ll be lucky to pass. I procrastinated so much that I handed it in late, because I didn’t want to do it. I don’t know what that says about me, but it’s linked to that want to have lots of short things coming from left and right, rather than one huge task that I need to concentrate on for hours.
Physical exercise. Everything I’ve just said is counter to what I do physical health wise; it’s all long distance. I will swim a long time, watching that black line, or going in the ocean and soaking it all up and wondering around like a bit of a vague idiot. To others that’s incredibly boring.
It’s probably a bit dangerous but I have found myself suddenly snapping out of something (usually running) and thinking, Christ I don’t have a single memory of the last five minutes. I couldn’t tell you what buildings I passed or anything; it’s almost like you black out because you’re just meditating. It happens a lot running.
I struggle to do things like yoga even though I know it’s good for me, but the idea of doing exercise over long distances somehow just calms and destresses me.
Well yeah, that’s about concentration. Long distance running and swimming and stuff, you don’t really have to concentrate. It’s my meditation…I’m going to try and do yoga. I’m not going to enjoy it, but I know it’s good for me.
I used to be far more social than I am these days, but that’s more about contentedness. I’m quite happy to vege out and watch a movie, or exercise. Boredom for me is alleviated by going for a run, usually.
Well, I think it’s pretty boring but: finishing an Iron Man, about ten years ago now. You can be proud of big achievements and that pride might last years, but the proudest single moment where I got the biggest chemical rush of pride was crossing that line. I don’t even remember it, but apparently I just screamed.
It was just the finish. It wasn’t just the 10 hours it took to do it; it was the months of work beforehand I put into it just all culminating into that one moment.
Construction in Melbourne, corporate finance in London and Melbourne, commercial broking in Sydney, and property finance with Dorado Property. In his spare time: marathons, Ironmans, and a law degree. If you can name it, Director – Property Davide Bini has tried it. What inspires him to keep exploring?