Posts Tagged "lessons"

Lessons From Koko Black

Posted by on Dec 2, 2015 in Blog

Lessons From Koko Black

News earlier this month that deliciously deluxe chocolate retailer, Koko Black had gone into voluntary administration was a little bit disconcerting. What if we end up with a deficit of really decent chocolate?! More than that, however, it can be a little scary when a well-known and successful business goes belly up. We can’t help but think about our own small business and wonder how we’ll survive if someone like Koko Black can’t. There are some valuable lessons in this occurrence, however. First and foremost, it’s important to stop the catastrophising and dramatics and realise that Koko Black and their administrators are doing what they can to keep going. Koko Black made some judgemental errors in the past and now they are trying to rectify them. It’s easy to throw your hands up and give up. It’s more beneficial to learn from failures, to recognise what has gone wrong, face up to it and do something about it. Shiny objects – and not decadent chocolate! – appears to be their downfall. In statements made to the media, they explicitly stated that “The business expanded very rapidly and undertook a series of major projects over the past 18 months. In...

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