A plan with a vision and much hard work can bring entrepreneurial dreams to life. Aspiring to follow the path less traveled can be challenging, but it can also reap bountiful rewards that may have the potential to change the trajectory of one’s life. A person may never know the true nature of their limitless potential unless they take the plunge. In an inspiring conversation with QG, Eugene Davis, Chief Operating Officer of KMD Business Consulting offers insight on how local communities can benefit from small businesses, the challenges of being a start-up company and much more!
What inspired the creation of KMD Business Consulting?
In 2004, my parents started KMD Business Consultants, LLC. From its conception, the consulting firm was driven by their faith and anchored on their willingness to take risk. Over the years, our willingness to take a risk has provided opportunities to share in the American dream. The firm’s strong held attributes of assessing and initiating corporate undertakings provided a culture of independence for our family business. As the son of first-generation entrepreneurs, I am excited to carry on their vision by taking this company to new levels.
The divisions of KMD Business Consultants include government services, redevelopment, business center, and business consulting. The Government Services Division helps government entities with their procurement. The Redevelopment Division focuses on revitalizing business properties to improve our communities. The Business Consulting Division provides professional and management services through its MACS business centers located in Williamstown and Paulsboro, NJ. The business centers are under my management control with applications orientated to its sister Redevelopment Division.
What is it about business consulting that interests you?
What interests me lies with providing expert advice for creating and carrying on the vision of starting companies. I love to see entrepreneurs succeed. Me being an entrepreneur before coming to work at KMD as part-owner of an active wear clothing business named F. L. Y. (Fresh Living Young), I knew firsthand what a business needed to be successful. When entrepreneurs succeed, then I feel we are giving back to society. Additionally, I like helping our community by creating more jobs, which is a major issue in the United States.
How can the local community and surrounding areas benefit from your company’s services?
The benefits start with the redevelopment of blighted properties in communities. Local communities and surrounding areas benefit from more business in the community people can patronize. For example, KMD is currently partnering with the community in a project in Paulsboro. The project secured and brought Save a Lot grocery store, Dollar Tree, Mailbox Store, Hair Salon, Signarama, and a business center to the community. These establishments bring opportunities for the connection between local business and local talent in the Paulsboro area. In addition, KMD’s business consulting division provides help to small businesses in learning how to succeed through job creation and education.
What are your goals and strategies for promoting your business’ growth?
Our goal and strategies to promote business growth include:
- Measuring our clients’ success against community growth
- Obtaining market penetration by measuring products and service bought
- Achieving market expansion and development by measuring which is attractive to the existing market
- Developing product and service expansion through measuring the level of increase offerings
- Growth through diversification using a specific portfolio management strategy
What are some of the challenges you’ve faced as a start-up company?
- Scalable business model
- Attracting new customers
- Managing time
- Keeping work and family tasks separate
- Abiding by local laws
- Managing risk
We counterbalance these challenges by:
- Finding opportunity instead of accepting
- Getting results instead of following routines
- Earning a profit instead of earning a paycheck
- Trying new ideas instead of avoiding mistakes
- Creating a long-term vision instead of seeking a short-term payoff
What is your vision for the company?
The vision of KMD Business Consultants is to help businesses bring their business conceptions to reality. Our mission is to educate and train businesses to carry on their vision.
What is your strategy for selecting the right team members?
KMD’s strategy for selecting the right team members is designed around the art of leadership. Our selection process is not our hiring process. By separating the processes into two domains, it is easier to map the perfect candidate from section to our hiring process. This process provides a warm, comfortable process for newcomers to transition into our firm. Once they are vetted, they are invited to form a managerial team with the skills needed to develop, make, and market our services. This combination of skills is how we grew our business. We treat our team like family, value their input, and give them the authority to make decisions on the fly.
Did you have a mentor to encourage your entrepreneurial spirit?
My mom, Dr. Millicent Davis, is my mentor. After many years in business, she is ready to enjoy her success, and I have joined the company to allow her to start that new journey of her life. I interned in the company while in college, pursuing a degree in Business Administration with a concentration in Marketing and at that time, I worked in the marketing department. After graduation, I worked for a mortgage company, moving up in that company in its Employee Leadership Program. So, the entrepreneurial spirit is in my blood, per se. I am proud to use this spirit within me, running a business that will be passed down through generations.
What’s the most rewarding aspect of running your own business?
KMD’s number one aspect is helping companies survive. Additionally, our companies possess several rewarding aspects in helping people and businesses offering support services such as accounting, legal advice, and secretarial help. Finally, our services continuously help members of our community by revitalizing properties, otherwise viewed as an eyesore to the community.
Learn more about KMD Business Consulting.