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An afternoon with David Koch and Friends

posted 23 Jun 2015, 04:58 by Gordon Kay   [ updated 23 Jun 2015, 21:34 ]
Most of us know David Koch (a.k.a Kochie) as the presenter for the Seven's network Sunshine morning show and the Business Builders.

Today (23rd June 2015), David Koch, with Kelly Barker-Jamieson of Edible Blooms and Daniel Milky Argo of Argo Espresso, addressed a group of business people at an State Development event

Here are my Top 3 David Koch takeaways.

Customers are changing their spending habits. Be flexible and adapt.
Social Media is Key and Google yourself to discover what your customers see.
Online is not a fad or for the young. It's the over 45 age group doing the online business.

Kelly Barker-Jamieson of Edible Blooms. Top 3 cashflow tips.

Use systems that collect payments upfront with easy payment. They may cost a little but chasing payments are more costly and waste your time.
Build relationships and understanding with your suppliers.
Know where your money is coming from. Measure it and fine tune it.

Daniel Milky Argo of Argo Espresso. Top 3 tips.

Only spend your money. In other words, spend money you make and not what's in the bank account.
Growing is about listening and making change.
Systemise your business.

Top Tip

All three spoke about the importance of having an external business person involved such as a business coach, mentor or board members. I think David Koch nailed the question of "Should you pay your board members?" "No! Other business people will help as they have 'been there' and will relate to you and your business.

Thanks SA Government for holding this event.