When setting up businessDEPOT and throughout much of my career, I heavily relied on my business mentor, the late Wayne Patterson.

Unfortunately, Wayne lost his battle with Motor Neurone Disease some time ago now, but I was privileged and honoured to have the opportunity before his passing to sit down with him and discuss the core principles he applied to business.

In his final years, Wayne also captured these principles, which are just as relevant to life as they are to business, in a series of children’s books centred around the ‘Fat Rabbit’ character. You can support his continuing efforts to fund research into Motor Neurone Disease by buying these books here.

In this 7-part video series below, Wayne and I focus on his core business principles.


The 7 key principles of any business


core values

How important it is to recognise them, how they are the key driver in every organisation and how to call out non-negotiable behaviour.


the importance of numbers

Relying on the values of your business [and the people behind the business] is one thing, but without using the numbers to assess performance and track progress, you may not be heading in the right direction.


being the best you can be

Systems, people and cash flow are important in running any business. So, how do you get your team to be the best they can be?



How do we hold people in our business accountable? What happens when people in the business are not accountable for anything and what mechanisms should be in place when it comes to holding people accountable?


goal setting

As the leader or owner of a business, we should set goals for the team. These goals will be the guide as to how the business will go about achieving its vision. So, where are you taking your business?



In business, we experience hurdles, speed bumps and brick walls. These problems either slow you down or stop you and your business from achieving what it is you want to achieve.

Don’t let these problems take you down or stop you from achieving your goals and visions.


getting the basics right

Everyone is wrestling with the same problems, trying to survive and thrive in the ever-changing world of business. Understand the basics and get the core principles right to build a strong foundation for success.


final thoughts

I am so grateful to have been able to capture these wise words of advice from Wayne that are timeless for all to learn from for years to come.

Feel free to show your support for his cause and thank him for sharing his principles for business in his final precious days by supporting the Fat Rabbit series of books or donating if you can.


we’re here to help

If you need help understanding how these principles can apply to your business, feel free to reach out to our team at oneplace@businessdepot.com.au or give us a buzz on 1300BDEPOT.


get more insights

If you liked this information and would like more advice directed at business owners, you can subscribe to our mailing list below!