American Express interviewed four of Australia’s brightest and most successful small business entrepreneurs to determine what motivates them, how they got where they are today, and why Charge is intrinsic to their business.
Danny Kordahi opened a promotional merchandise and corporate uniform business at age 31. Just six years later, he merged his thriving business with his brother’s equally successful company to form DKM Blue. Today, their business is a market leader, with offices in Sydney, Melbourne, London and Shanghai.
Time for change
The year 2003 was one of change for Danny. He was working for a merchandising firm, renovating his house and was one month away from his wedding when opportunity knocked.
“To throw more chaos into my life,” he says, “I decided to resign and branch out on my own. It was a brave decision but one of my best.”
For Danny a huge motivation was flexibility and the ability to control his own destiny.
“I love competing and having the ability to grow the business based on initiatives I’ve identified and implemented.”
Challenges ahead
The journey from small start-up to multinational company has not been without its challenges, as Danny freely admits.
“Because we were only a new business, not many suppliers would give us credit terms so we were very limited by our cash flow, or lack of. This initially curtailed our plans and growth.”
In 2005, Danny applied for his American Express Platinum Business Card and his business started to see the effects of using a Charge Card. He found the 51 credit-free days the most influential benefit.
“In our industry, by the time we deliver an order to our clients, our bills are due to our suppliers,” Danny explains. “Putting it on Charge immediately gave us the 51 credit-free days to fund that stock.”
Danny’s genuinely enthused about the role the Charge Card has played in his business.
“I’ve been a Platinum Business Card member since 2005, and in all honesty I don’t know why some businesses wouldn’t have it.”
With further plans to expand DKM Blue, including the recent acquisition of two clothing brands and the launch of a range of luggage and accessories, Danny is looking forward to a year of solid growth.
Click here to watch more interviews with other successful business owners.
If you are interested in applying for a Platinum Business Card, American Express are offering an introductory 75,000 Membership Rewards points to those who apply by 31 December and spend $10,000 in the first 3 months. Just call 132 493 to get started.
Visit the website for full terms and conditions.
