Leadership and Coffee Talk with Sacha Coburn

RIMScast

Welcome to RIMScast. Your host is Justin Smulison, Business Content Manager at RIMS, the Risk and Insurance Management Society.

Justin interviews guest Sacha Coburn, CEO of Coffee Culture for leadership and coffee talk. First, he reconnects with Kerry Bakkerus, RIMS NZ & PI Chapter President on what to expect at the technology-based RIMS New Zealand & Pacific Island Chapter’s February 12th event, Embrace The Unknown: Unleashing the Power of Risk. Sacha Coburn is one of the presenters at that event and Sacha will be presenting Leading from the inside out. Justin and Sacha explore Sacha’s career path and how she became a thought leader in coffee culture and franchising culture. Listen in to Sacha’s insights into leadership, culture, and action.

Key Takeaways:

[:01] About RIMScast.

[:14] Public registration for RISKWORLD 2024 is now open. Explore infinite opportunities with RIMS from May 5th through May 8th, 2024, in San Diego, California. Register at RIMS.org/riskworld.

[:31] About today’s episode of RIMScast. Our marquee interview will be a pick-me-up with Coffee Culture CEO Sacha Coburn.

[:52] The RIMS-CRMP is the only competency-based risk management credential. That matters because earning the certification shows employers and recruiters that you have the skills necessary to manage risk and create value for your organization. [1:08] Several Exam Prep virtual workshops are coming up, starting on January 13th, 20th, and 27th, 2024, the RIMS-CRMP Exam Virtual Workshop will be presented in conjunction with Conrad Clark Nigeria.

[1:26] The RIMS-CRMP-FED Exam Prep Virtual Workshop will be held on January 30th and February 1st. That’s a two-day course. Visit the certification page on RIMS.org for more information. A link is in this episode’s show notes.

[1:44] RIMS is looking forward to RISKWORLD 2024 in sunny San Diego, California, from May 5th through May 8th, 2024. Public registration is open. Register today at RIMS.org/RISKWORLD and the link in this episode’s show notes.

[2:01] I’m stoked for the RIMS New Zealand & Pacific Island Chapter’s February 12th event, Embrace The Unknown: Unleashing the Power of Risk, co-presented by our friends at Marsh. It’s a day-long event that leans into technology, innovation, AI, and all the upside risks that risk professionals need to consider in 2024.

[2:26] One of the event’s speakers, Sacha Coburn, CEO of Coffee Culture, will be joining us shortly.

[2:33] First, we’ll hear again from Kerry Bakkerus, the president of the New Zealand & Pacific Chapter of RIMS, who will tell us all about the event, what inspired it, and why you should be there. Kerry Bakkerus, welcome back to RIMScast!

[2:56] Embrace The Unknown: Unleashing the Power of Risk will be on February 12th at the Pullman Hotel in Auckland, New Zealand, hosted by the RIMS New Zealand & Pacific Island Chapter. Kerry says getting the conference organized has been an interesting journey. They had decided to use ChatGPT as much as they could.

[3:35] Kerry asked, “ChatGPT, what’s a great title for a risk conference?” The title came from ChatGPT. “ChatGPT, what’s a great agenda for a risk conference?” The agenda was inspired by the agenda developed by ChatGPT. The content and narratives on the website are by ChatGPT. Kerry says they have exciting, on-the-day things planned.

[4:55] Kerry comments on the speakers and agenda for the day. She looked for speakers with inspirational content and thought leadership. She wanted attendees to bring away things they could apply in their day-to-day. Dr. Gav Schneider is bringing a completely wild and different topic. Kerry is excited to hear every speaker.

[5:38] They brought in Sacha Coburn as a person who can talk about soft skills and how to bring out the best in our people and ourselves to achieve our business objectives.

[6:04] Registration for Embrace The Unknown: Unleashing the Power of Risk is still open. A link to the full agenda and registration is in this episode’s show notes. Kerry Bakkerus, thank you so much for rejoining us here on RIMScast!

[6:31] Sacha Coburn is the CEO of Coffee Culture, a boutique franchise of coffee locations in New Zealand. Sacha is going to lend her perspective on risk and leadership and give us a preview of her session at Embrace The Unknown, titled Leading from the Inside Out. Sacha Coburn, welcome to RIMScast!

[7:23] Sacha joins us live from Hamilton, New Zealand. Sacha reports that seismically, Hamilton is the safest place to live. She moved there after the devastating earthquakes in Christchurch in 2011 and 2012. Safe places are not always particularly beautiful or renowned, Sacha notes.

[9:21] Sacha started as a lawyer. She always went to the same coffee shop and it was the case of the barrister meeting the barista. They hooked up and she joined Chris in the business. She found she liked the coffee business much more than the courtroom. They started to plan how they could grow what they did into more communities.

[11:27] Sacha’s other activities include involvement in the fitness industry, governance roles in construction, and golf clubs. She has a curious mind about what makes people tick. She has a Master’s degree in adult education. She recently graduated from Harvard Business School asking herself how to get the best out of people and our organizations.

[12:01] As a result of her questions, she has been speaking to different industry groups about leadership and about what it takes to succeed and understand the new environment we’re operating in. That’s how she came onto the radar at RIMS.

[13:07] A boutique franchise is selective about locations. Every store they open is in an ideal location, run by people who have been carefully selected. Every store in the franchise has a familiar Coffee Culture look, excellent music, and design quality. Each store is beautifully and architecturally designed in keeping with its surroundings.

[14:20] That makes them expensive shops. It takes a particular type of person with pride in what they do to be a successful operator. For a long time, they had a longer list of approved franchisees than they had locations for. That shifted recently.

[14:57] After the COVID-19 pandemic, it’s increasingly difficult to get finance for hospitality ventures. Friends tell Sacha that this has been the same around the world. Hospitality has been smashed through the pandemic. People have gotten good at making coffee and meals at home. Banks are holding tightly to their money.

[15:28] Coffee Culture has lists of people approved for franchises and now they are starting to find more sites becoming available as other operators fall over.

[15:58] The criticism of Coffee Culture is that they have been slow to grow. After 27 years, they have 20 outlets. They don’t want to open them for the sake of opening them. They want the best location in every town they are in. That requires being patient for measured, strategic growth.

[16:47] Corporate culture and leadership tie together at each franchise location. A coffee shop is a service provider. You must be willing to put others first and understand what it is that people need. You must give amazing service to someone who has only spent $7.00. Why wouldn’t you? The lifetime value of that customer is far greater.

[18:59] In areas around the world with high longevity, the elderly meet together every day, sit around, and drink coffee, wine, or ouzo. They have a culture of celebrating and commiserating together. A coffee shop can survive through good economic times and harsh economic times if it gets its environment right. It gives structure to society.

[21:37] If you come into a Coffee Culture, are greeted by name, and your usual order is known, it gives you validation and comfort. Sacha believes some people love Coffee Culture because it helps them not to be lonely.

[22:33] RIMS plug time! RIMS Virtual Workshops: Visit RIMS.org/virtualworkshops to see the full calendar. On January 16th and 17th, 2024, our friend and former RIMS president Chris Mandel will lead a two-day course, Captives as an Alternate Risk Financing Technique.

[22:55] On January 23rd and 24th, our friend Gail Kyomura will return to host Fundamentals of Insurance. Information about these workshops and others is on the RIMS Virtual Workshops page and a link to the full calendar is in this episode’s notes. [23:11] On January 16th, RIMS will present How Risk Managers Can Combat Human Trafficking In 2024. I’ll be hosting that session and will be joined by three expert panelists. I’m really looking forward to delivering this session and reaching you all.

[23:29] Visit RIMS.org/Webinars to learn more about these webinars and to register! Links are in the show notes. Webinar registration is complimentary for RIMS members.

[23:43] A quick shoutout to our friends at the Spencer Educational Foundation, which funds the education of next-generation risk management and insurance talent. Spencer’s scholarship program is open but coming to a close on January 31st for undergraduate and graduate students and on March 1st for Ph.D. applicants.

[24:01] Also, Spencer’s course development grant cycle is entertaining submissions through February 15th. Students and risk management and insurance faculty with interest can visit Spencered.org for additional details.

[24:25] Sacha wants Coffee Culture to be the Cheers of coffee locations, where everybody knows your name. To differentiate themselves from other franchises, they are clear on what they do and what they offer. They build a beautiful store where everybody can come and get energized for a very small amount of money.

[25:33] The stores are beautiful. People notice the quality of the design. It’s no individual element but the sum of the parts. Coffee Culture is thinking of the customer experience all the time. The temperature is right. The curated music playlist is right for the time of the day. The coffee offering is incredibly strong and stays on top of the trends in coffee.

[26:11] The staff are well-trained. Coffee Culture invests a lot of money in training programs to make sure the staff is delivering the right experience. Sacha asks about corporate culture: how do you make sure that the things you value are valued by the people who work with you? That’s always the challenge and a huge risk.

[27:16] Sacha and Chris relied on Sacha’s legal knowledge when they launched the Coffee Culture system. They knew what worked and did everything they could to mitigate the risks along the way. Their measured growth is a risk-averse strategy for growth. They only wanted to open stores they would be willing to own themselves.

[28:53] Coffee Culture made sure that all their operations and all their franchisees were insured adequately and appropriately, in the event of unhoped-for risks. People were underinsured when the Christchurch earthquakes struck, so the government stepped in. That act cost Coffee Culture the advantage they had from being adequately insured.

[29:46] Sacha comments that every time a government intervenes to protect people from risks that they should have foreseen themselves, it tips the scales of the free market. Those who are prudent and manage risks ought to be rewarded for that.

[30:06] Sacha’s session at the RIMS New Zealand event, Embrace The Unknown on February 12, 2024, is called Leading from the inside out. We will learn the Three Cs of contemporary leadership. 1.) Create Clarity from confusion. 2.) Instill Confidence in your people. 3.) Have the Commitment and the courage to act.

[34:36] We are living in a time of deep action being necessary. The speed that you need to get things to market means we need to find a way of going faster and making courageous calls with the commitment to act and do stuff. We need an action bias.

[36:09] Sacha’s inspirations include people with messages that matter. Oprah Winfrey “talks to you” in a crowd of 20,000. Glennon Doyle is another inspiration. These are people who courageously live their truth. That’s what Sacha wants to do as a leader. When Sacha had cancer, she thought, “All I have to do is live; now, … I’ve got a story!”

[40:33] Sacha wanted to know the risks. She asked the oncologist and the surgeon to tell her all of the odds, all of the stats, and all of the research. She wanted to know what she had to do to beat this thing and she would do it all. She had chemotherapy, radiotherapy, hormonal treatment, and a mastectomy.

[40:59] Then she went to the complementary medicine people and did everything they told her to do as well. She wanted to be able to tell her children she gave everything she could to be there for them. Her children were eight and four.

[42:03] Embrace The Unknown will be a fabulous event. Justin is glad for everyone to attend Sacha Coburn’s session, Leading from the inside out.

[42:15] Special thanks to Sacha Coburn of Coffee Culture, for joining us here on RIMScast. She will be a presenter on February 12th, 2024 at the day-long live conference, Embrace The Unknown at the Pullman Hotel in Auckland, New Zealand. The event is hosted by Marsh and the RIMS New Zealand & Pacific Island Chapter.

[42:35] The link is on this episode’s show notes. Go check it out and register and when you are there in person, please tell the organizer that you think RIMScast should have a live presence at the 2025 event!

[42:45] Go to the App Store and download the RIMS App. This is an exclusive members-only benefit with all sorts of RIMS resources and coverage. Everybody loves the RIMS App!

[43:11] You can sponsor a RIMScast episode for this, our weekly show, or a dedicated episode. Links to sponsored episodes are in our show notes. RIMScast has a global audience of risk professionals, legal professionals, students, business leaders, C-Suite executives, and more. Let’s collaborate! Contact [e-mail] for more information.

[43:54] Become a RIMS member and get access to the tools, thought leadership, and network you need to succeed. Visit RIMS.org/membership or email [e-mail] for more information. The RIMS app is a benefit of RIMS membership and is available only for RIMS members! You can find it in the App Store.

[44:19] Risk Knowledge is the RIMS searchable content library that provides relevant information for today’s risk professionals. Materials include RIMS executive reports, survey findings, contributed articles, industry research, benchmarking data, and more.

[44:34] For the best reporting on the profession of risk management, read Risk Management Magazine at RMMagazine.com, and check out the blog at RiskManagementMonitor.com. Justin Smulison is Business Content Manager at RIMS. You can email Justin at [e-mail].

[44:56] Thank you for your continued support and engagement on social media channels! We appreciate all your kind words. Listen every week! Stay safe!

Mentioned in this Episode:

Embrace The Unknown: Unleashing the Power of Risk | Hosted Live & In-Person by RIMS NZ & PI | Feb. 12, 2024

Riskworld 2024 — San Diego, CA | May 5–8, 2024

RIMS-Certified Risk Management Professional (RIMS-CRMP)

NEW FOR MEMBERS! RIMS Mobile App

Spencer Educational Foundation

Spencer Educational Foundation — Grants Page

Dan Kugler Risk Manager on Campus Grant

RIMS Webinars:

How Risk Managers Can Combat Human Trafficking In 2024 | Presented by RIMS | Jan. 16, 2024

RIMS.org/Webinars

Upcoming Virtual Workshops:

See the full calendar of RIMS Virtual Workshops

RIMS-CRMP Prep Workshops

Related RIMScast Episodes:

“Solving Wicked Problems with Dr. Gav Schneider”

“Kicking Off 2024 with RIMS CEO Gary LaBranche”

“2023 Risk Year In Review with RIMS Risk Management Magazine Leaders Morgan O’Rourke and Hilary Tuttle”

“RIMS Global Perspectives 2023 featuring Kerry Bakkerus”

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RIMS Publications, Content, and Links:

RIMS Membership — Whether you are a new member or need to transition, be a part of the global risk management community!

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About our guests

Kerry Bakkerus, RIMS NZ & PI Chapter President

Sacha Coburn, Coffee Culture CEO

Rimsnzpiconference2024.cispecialists.co.nz

Tweetables (Edited For Social Media Use):

I asked, “ChatGPT, what’s a great title for a risk conference?” And so, our title comes from ChatGPT. — Kerry Bakkerus

I have a Master’s degree in adult education. I’ve recently graduated from OPM at Harvard Business School, asking myself how do we get the best out of people and how do we get the best out of our organizations. — Sacha Coburn

I wanted to know the risks. I asked the oncologist and the surgeon to tell me all of the odds, all of the stats, and all of the research. I wanted to know what I had to do to beat this thing and I would do it all. — Sacha Coburn

I don’t believe that we are living in a time of deep thought; I think we are living in a time of deep action being necessary. — Sacha Coburn