MILESTONE MOMENTS
We had momentum and the market was moving . But things came to a sudden jolt during the oil price hike during the Gough Whitlam prime ministership of the early 1970s .
Interest rates suddenly spiked to more than twice their previous levels at an unbelievable 20 per cent . That just concealed the fact that finance was unobtainable . Suddenly all of our businesses were losing money . And our wonderful wave of confidence was now staring at an unsupportable burden .
The memories of expressing to my young family that we needed to do everything we could to save money including the necessity to grow our own vegetables is indelible . And so pumpkin plants - known to be the fastest growing and nutritious vegetables - were sown in abundance in our backyard . Everything was in disarray .
Brian White , Paul White and Alan White
But then some unexpected sales began to emerge . People , and their families , needed to buy and sell . I told my family , “ That was a better month than I had feared ”. In the end , no pumpkins were ever harvested . In fact , they grew wild down the hill into our neighbour ’ s yards and our optimism began to re-emerge .
IT ’ S TIME TO LOOK AT THE OPENING OF OUR FIRST BRANCH OFFICES IN THE 1970S .
Our first offices outside of our headquarters in Queen Street were either done in partnership with some of our best operators , or with managers in company owned offices . We gained momentum quite quickly , with new offices being opened across Brisbane and in some of the larger regional towns .
At the same time , my father encouraged me to open an office myself , which we did on the southside of Brisbane . What an experience ! I wouldn ’ t have missed it for anything . Beginning to understand the issues of leadership and how to create teams was a highlight of this time .
By now I ’ d become the leader of the business . How vividly I remember the time my father called me into his office to announce that he wished to retire and follow my brother into farming and being productive off the land .
Brian White , Alan White , Paul White , Dan White and Sam White
He formally handed over responsibility to drive the business . His memorable words , as he packed his bags to depart , were , “ Be a good leader .” And with that , he walked out .
Brian White AO Chairman Ray White Group
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