The Broke Billionaire Interview: Nick Kaoma – Head Honcho CEO

1. Hi Nick, welcome to Broke Billionaire, please introduce yourself to our readers.

My name is Nick Kaoma, I’m 27 years-old and I am the founder and CEO of Head Honcho Clothing. I am originally from a small town in the Free State called Qwa Qwa. I have been living in Cape Town since ’02. My hobby is making history.

2. You’re the CEO of Head Honcho, what exactly is it that your company does ?

Head Honcho is the leading local streetwear clothing company in SA. We make some of the freshest gear for progressive ladies and gents out there. Head Honcho is all about using clothing and other platforms as an opportunity to inspire peeps to LIVE PROGRESSIVELY.

3. When did you start your company and what inspired you do it ?

We officially launched the business in November 2008. However, my partner Mzo and I laboured on it for a year straight before we dropped our first range. What inspired me to start the company was the simple desire to create something magical that reflects the spirit of our times.

As fans and consumers of everything urban and street, we felt that South African streetwear lovers were being short-changed in terms of quality and originality. Personally, I watched the game from the sidelines for 7 years straight while silently lamenting the half-heartedness that epitomised the approach from many local brands.

In a nutshell, we decided to change the game.

4. Where can people buy Head Honcho Products?

Head Honcho retails at all SHESHA stores (www.shesha.mobi) and at select SPORTSCENE (www.sportscene.co.za) stores nationwide. We’re also launching an online store at the end of September so peeps will be able to be buy our gear from anywhere in the country and have it delivered to them.

5. There’s lots of competition in the clothing industry, what do you think young South African designers have to do in order to make it in this industry?

READ as much about the industry as possible… If you don’t like reading then watch YouTube videos of successful designers and other industry people. You need to be a sponge .. suck as much stuff about this game as possible. Talk to sales assistants at stores, speak to fabric suppliers, printers, CMT’s … Develop a feel for what it takes to make it in the industry. Never stop learning.

BE Original. Don’t compromise on quality. Learn some financial management skills. Market the s*#t out of your brand. Watch out for the vultures. Swim with sharks but don’t get chewed. Hustle hard. Don’t give up. Make some millions.

6. Head Honcho recently made Headlines by becoming the first South African streetwear label to be stocked at major retailer Sportscene. What’s next for the Head Honcho Group?

Sportscene is obviously a very big deal for us so our medium-to-long-term goal is to increase our presence in the chain. We’re looking forward to get into more Sportscene stores and to improve our visibility in every store.

We’re also working on plans to get the brand into a number of key African markets. Hopefully, these deals will be concluded in the next month or two.

7. Would you encourage other young South Africans to start their own business and why?

I would, as long as you’re doing it for the right reasons. After all, entrepreneurship is probably the only way we can solve our unemployment problems. A lot of guys are getting into fashion because they think it’s cool and glamorous or because they want to rub shoulders with entertainers. If those are the reasons why you’d like to become an entrepreneur the industry will chew you and spit you out faster than you can say STREET.

Only start a business if you have the following ….  1) Passion for a particular industry 2) A unique product or service offering 3) Business acumen that will help drive your company.

8. What are some of the biggest challenges you’ve faced as an entrepreneur ?

I’ve faced typical challenges such as lack of capital, limited industry knowledge, South Africans’ ambivalence towards local brands, competing directly with global brands with multi-billion rand budgets et al.

However, the biggest challenge was self-doubt. Prior to this I had never run a business so it was a challenge to master the courage to actually do this. I know this is a cliché but if you BELIEVE in yourself and have a resourceful spirit all the challenges I’ve mentioned above will be surmountable.

The best way to kill self-doubt is by talking to people who’ve actually succeeded in the industry that you’re interested in. You’ll realize that they are just mere mortals like you. The only difference is that they know what they want and they are prepared to move heaven and earth to get there.

9. What advice would you give to young aspiring entrepreneurs ?

• Read voraciously about business & successful entrepreneurs
• Learn basic cash flow management skills
• Make your product/brand a “Purple Cow” (read Seth Godin’s book by the same name to understand this point)
• Outwork the competition
• Only get into it if your heart is in it

10. What do you enjoy most about running your own company ?

The fact that our work inspires young people to LIVE PROGRESSIVELY.

Thank you for taking time out of your busy schedule to do this interview with us Nick, we wish you all the best for the future, and keep inspiring us!