This interview with Geoff Kho is a case study in a company that thrives in a niche market through meticulous execution, thoughtful approach and, as Mr. Kho says, “Work[ing] on your company, not in your company.” This interview touches on market innovation, product differentiation and staying true to your company’s end-goal.
Innovation is something that Mr. Kho has lots of experience in as well, which is made evident throughout the interview with comments that both encourage and advise. “Stick close to your knitting,” and, “Don’t innovate too far beyond what you know in 1 giant step.” Innovation, he warns, must also make sense for a company.
Product differentiation, Mr. Kho proffers, is yet another imperative to any successful company. Starbucks, he claims, is a prime example. How did Starbucks differentiate itself in a throng of coffee shops? “It created a Piazza.” It branded itself as a true boutique coffee shop that offered those amenities (such as wi-fi) that went hand-in-hand with coffee, and they brought all of these complimentary elements together under one roof. This, amongst several other things, brought a level of convenience, differentiation, and, of course, success that set it apart from every other coffee shop out there.
An advocate for small businesses, Kho identifies what he sees are the challenges and solutions for small businesses moving forward. Namely:
Challenges being: human capital, money, tyranny of customization, and competition. Solutions: education, connections, and access to capital.
Kho is an advocate of small business education, and the proprietor of an innovative chemical manufacturing company that started in 1988, which has since grown by leaps and bounds. An inspirational interview with an MBE who has made more than chemistry a science—but has made success one, as well.
Geoff Kho / Supreme Resources, Inc.