Why I’m bringing back The One Centre
The One Centre was one of the Australian marketing industry’s biggest victims of the GFC. In this guest post, founder John Ford explains what went wrong and why he’s giving it another go
The One Centre was a fantastic company hit by the perfect storm during the GFC.
In August 2008 we were one of Australia’s largest project-based creative companies with over 60 staff. Our clients included Audi, McDonald’s, Coca-Cola, Woolworths, Mars, IAG, PricewaterhouseCoopers, GE, The Red Cross, Freedom Furniture, Jetstar and Nakheel.
Growing at an average of 50% year-on-year for nearly a decade, we posted our best-ever trading month in September 2008 – just as the GFC struck.
Congratulations John, may you find the success you deserve.
Hey John,
I wish you the best of luck. I too see the future, but i feel the scope of your ambition is what crashed you last time. Leaving many casualtiies, many who may not have had the backing or capital to jump back in supersonic mode, as you clearly say you are.
Go slow, start on one thing at a time, just be happy you are able to make each one a success and be able to pay your people, and re invest the profits into more, dont try and be SKG all at once, and be humble.
Today you don’t need lavishly branded offices with original Jacobsen Egg chairs to have the prestige. It’s the work and the results from it, that give you the prestige.
Today all you need is talent, wisdom, and a wifi connection. In fact your corporate offices could be in any Macca’s.
Pace yourself. There is time.
Mr.Ford says the thing he learnt most was about ‘the importance of relationships’.
That would be a surprise to many who dealt with TOC.
Then Goldmember suggests Mr.Ford be ‘humble’. That too would be a surprise.
Let me see if I have this right.
According to Mr.Ford, TOC had 10 consecutive years of 50% growth. That’s 50% growth year on year for 10 years.
According to Mr.Ford revenues reached $1.27m by Sept 2008.
Then TOC was hit by a $1.25m debt [TOC’s first ever according to Mr.Ford].
However, we know TOC reached an agreement with the bad debtor agreeing to pay back 50% of the debt, reducing the debt to $612.5K.
So, a company with 50% growth year on year for 10 years, with monthly revenues of up to $1.27m goes broke over a $612K debt?
Is it me, or does something just not add -up?
It would mean revenue after year 1 would be $22k, after year 2 $33k, and after year 3 $50k etc. So yes, it would be possible, but I’m not sure it means it was anywhere near a profitable business
As one who has first hand knowledge of the modus operating model of the TOC: “….strategising, conceptualising, producing, distributing and promoting,,,”
Left out the blindingly obvious ‘-ing’ methinks.
Still bull****ing!
Calc is exactly right.
There’s an old Italian saying, ‘A fish dies by it’s own mouth’.
If people studied the words that come out of Mr.Ford’s ‘own mouth’ they’s soon discover the real reasons TOC died.