If you want a name synonymous with entrepreneurship in New Zealand, then it’s Tony Falkenstein, the man who founded our EO branch nearly three decades ago. He’s best known for his perspectives on entrepreneurship and his long history of business acquisitions, and today still spends 5 days a week in the office. 

“I have always liked to be surrounded by the energy and the curiosity of younger people,” Tony explains. In many ways, Tony’s entrepreneurship journey has been circular – and the flexibility he’s built over years in businesses means that he now has the time, the ability, and the space to transfer his knowledge into something meaningful for budding business minds.

Where it all started

Let’s wind back the clock to 1987 – a big year for the Apple II computer, mullets, and Three Men and a Baby. Tony had already seen some formidable highs and lows as both an entrepreneur and a high-flying corporate exec, but a new opportunity came about. NZ was going through something of a health kick: jogging was popular, and smoking was going out of fashion as a ‘dirty’ habit. After spotting water coolers in an American sitcom, Tony saw a new opportunity – people would want to drink water in offices.

He bought six coolers, and the rest of the Just Water story is history. Today, his business has expanded to include eight brands across healthy living (including Just Water and three supplement businesses), and healthy homes (including skylights, ventilation, and hot water cylinders).

Just Water has been a success from the beginning, and the supplement market has kept him busy. But prior to that he experienced a few setbacks. His Zee Watch business fumbled when people opened their Christmas Day gifts and discovered brittle watch straps, effectively gutting his bank account due to warranty claims. He looked at selling his house. “It took about six months to get out of that. I’m an optimist; I don’t stress out much. But I did with that one,” says Tony. “It took ages to get back on track, mentally.”

What do you do with years of learning? 

When asked what being in business really is, Tony’s answer invokes a contagious kind of curiosity. “Entrepreneurship is a state of mind,” he explains. “I challenge the status quo in everything. I’m always asking why, somewhat like a kid does as they start to make sense of the world and how it works.” 

That kid-like perspective is one of the reasons Tony loves being around young, bright thinkers. When it was time to give back to his communities, to invest his time in a meaningful way, Tony zeroed in on education and inspiration. Today, he’s committed to supporting multiple programmes for students at Auckland University Business School and at Waikato Management School. He’s taken groups to Silicon Valley and New York, introducing them to fast-moving, open-minded business worlds, hoping that it will help them see and believe the massive potential of what business can achieve. “Entrepreneurship is the key to our economic future,” adds Tony.

Tony’s definition of entrepreneurship is “idea plus execution”. This, he believes, is how we spark change. “Entrepreneurs can see the future, and once you start going to school, you get boxed in.” The Tonys are the ones looking out the window, thinking of other things. He believes that anyone can learn this mindset, but as we get older, it’s harder to stay open-minded, which is why education and continuous learning are so important.

And being a part of EO and surrounding himself with other entrepreneurs has been a rewarding experience for Tony, and a way to keep that energy alive. “I’m an introvert, and I like my own time and company, but there’s a buzz that extroverts give me. And I do love being around younger people! I started EO 28 years ago and seeing how it’s changed lives for people – that’s really rewarding.”

Tony Falkenstein is a testament to the power of an entrepreneurial mindset and the impact it can have on the community. For Tony, living his best life means giving back, inspiring others, and truly embracing the flexibility that entrepreneurship has afforded him.