Founder of Kochie’s Business Builders, David Koch, was a pioneer supporting small business. Being a small business owner himself, David knows exactly what it takes to take an idea and turn it into a successful business. It doesn’t get any passionate than this!
Here are his 10 commandments for small business.
1. Always be there for your customers
”It’s all about becoming obsessed with our customers. Knowing their needs and embracing the future with excitement.”
2. Become an expert
”It’s very important to establish that genuine relationship and positioning yourself as a trusted expert.”
3. Map out your business plan
”One thing I’ve learnt from working in my own small business is it’s important to create a step-by-step plan about where you’re heading. A business plan is an essential map for any business… big or small.”
4. Test out your business model
“Its a classic case of vigorously testing a business model before expanding and a dedicated and structured approach to innovation.”
5. Be confident
”Have enough confidence in yourself to give anything a go. But if it doesn’t work out, have enough confidence in yourself to do something else.”
6. Recover from ‘failure’
“Every business falters—what defines an enterprise is how it responds to stumbles.”
7. Be passionate about your idea
“Small business owners are passionate about their product and loyalty is their pay cheque.”
8. Don’t whinge about competition!
“Don’t whinge about online competitors, join them! Bricks and mortar businesses are a great combination with online.”
9. The secret to retail success
“The secret to success in retail, even during slow times, is to firstly tell customers your story and secondly have a product range that is unique.”
10. Good planning is crucial
“Flesh out a formal business plan, including a genuine proper projection, a timetable and a delegation schedule to implement the plan. Good planning is a must!”
11. KBB is celebrating 10 years in small business!
Hit play to watch the fun highlights from the past decade at KBB
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