Southby has re-signed as head coach of the Steel for another two years and has also been reappointed New Zealand coach for the Fast5 world series in November.
The former Otago Rebel, who shared the Steel coaching role with Natalie Avellino in 2012 but took sole charge the following season, said it was ''good to have some security''.
''Coaching can be fickle so it is nice to have that security for a couple of years,'' she said.
''I'm pretty excited by it. It is a tough competition and it is providing lots and lots of challenges. There is lots of learning going on.''
The past three years have been a steep learning curve.
The Steel struggled in 2012, started well in 2013 but dropped off towards the end of the campaign, and this season many were picking the team to make the playoffs.
The Steel finished strongly to claim fifth place but was out of the running early after making a disappointing beginning.
The franchise had targeted a playoff spot but a disrupted build-up and the fitness of its star shooter Jhaniele Fowler-Reid contributed to the poor start.
A disappointing loss to the Mystics in Invercargill in April and to the Pulse the following week ruined the Steel's playoffs prospects.
Southby's grip on the coaching reins appeared to be slipping but the Steel finished the season with four consecutive wins, including a 65-64 win over the Melbourne Vixens, the eventual champion.
''Last year we had a strong start but a poor finish.
"And this year we had a slow start but a strong finish, so it is about putting those two together and maintaining consistency for the whole season.
"That is certainly the big focus for next year.''
The Steel's playing roster for 2015 is nearing completion and there are many familiar faces returning, with one notable absence - Silver Ferns shooter Jodi Brown was not offered a contract.
It was a tough decision to cast off the captain but for Southby, the decision was made even more complicated given the fact Brown is Southby's sister in-law.
The pair have ''worked really hard'' to maintain a coach-player relationship while with the Steel but Southby said it had ''not been an easy time''.
''I guess I have to work really hard to wear my coach hat on one head and my [family] hat on the other.
"That is most important in the roles we've had over the last couple of years because, at the end of the day, she is another player like every other player.''
Whether it will prove to be the right decision in hindsight or not, it has certainly shown Southby's resolve and courage.
It is also a huge vote of confidence in Te Paea Selby-Rickit, who will make the transition from bench player to starting goal attack in 2015.
Selby-Rickit has worked hard to improve her mobility in recent years but her strengths are her shooting accuracy and height rather than her court craft or passing game.
She is a very different type of player to Brown in that sense but Southby has confidence in her promising charge.
''She certainly has not played a lot of goal attack at ANZ Championship level but she has been playing there for her club and at under-21 level for New Zealand, so she has that experience.
''At times she has shown to be quite mobile and smart with her passing game.''
That said, Southby accepted Selby-Rickit has a lot of work ahead of her to make a successful transition from the bench and into the goal attack bib.
''I guess I've seen enough of her in other areas to have confidence that she can apply it at the next level.''
