Hi, it’s Jessy
Due to the blog being new, I haven’t managed to arrange an interview early enough yet… Business owners are busy and work hard!
So, I have found a great interview perfect to start with.
This is a retail clothing store business owner called Kamal Chohan. Watch the video below before I start to explain the major factors he talks about in this interview.
I’m going to literally fire out everything important, because I think Kamal has some great perceptions on business and you should follow them too.
The number 1 thing he points out is that you need to know your simple economics – This is supply and demand. I know I learn this and other members of the team follow this too. You cannot go into a market without knowing what your customers want, so you need to do the research.
Even with clothing, what do you think affects the demand for Kamal’s situation? Well, firstly he lives in california, so it’s probably going to be hot. So why would you supply thick warm clothes? Got it?
I’ve also got another real time example relating to the internet. Take this from one of Ben’s businesses. He owns a phone repair store in a local town in England. What you can see on the website is that he has numerous pages that cater for many services he has. Not all of them are there, but a lot are. This is to target the people who search for them services online and he knows this because he has done his research of the demand.
Kamal says he is still learning his customers demand so it’s nothing you can get around quickly. It takes patience and research, and you will grow.
Another thing I need to point out is that you need to take risks. He uses the example of Godaddy (a hosting company) putting all their money into the super bowl commercial and it actually paid off. Obviously, you cannot just put your money anywhere and hope for the best. Again, you need to do your research and figure out where the customers could come from. If you’re a local company then you’re not going to put all your money into a national commercial because your customers will most likely also be local.
In his opinion, his most contributing factor to why he is successful is his personality. Like in Ben’s character article, he also abides by the fact that you need to be positive, learn the culture of your business and basically be a good human being. Ben talks a lot about character and how this affects your business so I haven’t gone into much detail.
Finally, I think one of the most important things he explains in the interview is that he “crawls before he runs.” This is to not aim too high too early. One of the future topics our team will go through with you is planning goals. Aiming too high too quickly is impossible.
So, Kamal says that he will strengthen his team and himself on the one store. This is a definitely achievable goal and there is nothing wrong with it. Planning that you want to expand to a 3 stores in a year can be detrimental. As I said, be patient.
That’s it! I haven’t gone in too much detail as there is actually not that much to take in.
Tell me what you think and we can talk.
Interviews by – Jessy