Published 28 February 2023
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Finance industry veterans Joseph Healy and David Hornery reveal how they successfully started Judo Bank and disrupted the Australian banking market against all odds in this business masterclass for leaders, startups and entrepreneurs.
Disillusioned with the four big Australian banks’ culture and strategy, Joseph Healy and David Hornery started thinking about a startup that would improve and disrupt the immovable banking sector.
Although they were self-professed ‘no spring chickens’ who fell outside of the usual millennial startup entrepreneur demographic, they forged a plan to start a new bank that would service small and medium-sized businesses (a sector the big banks were neglecting) in a highly regulated industry monopolised by four of Australia’s biggest companies.
Inspired by the Netflix mantra ‘that will never work’, Joseph and David founded Judo Bank in 2016. The name is a nod to the fact that in judo, the smaller, weaker person can overpower a stronger opponent through the efficient use of energy.
In Black Belt the authors share keys lessons from the Judo journey and their decades in business prior to the startup, including how to:
- Find and stick to your niche
- Act like a David and succeed as the underdog against Goliaths
- Be 100% clear on your purpose
- Continuously work on your culture.
This is true masterclass in planning, launching and scaling a successful business against all odds. Follow their advice and you too could be a Black Belt leader and entrepreneur.
PRAISE FOR BLACK BELT
'I can’t think of a tougher challenge to be taken from start up to a successful enterprise than what the Judo team has done in one of the most competitive banking environments in the world. This is a great read.'
Mark Bouris AM
'There’s no more important task for the world’s future than to groom more entrepreneurs. If you’re going to be one of them, consider this book your go-to guide.'
John Mullins, Associate Professor of Management Practice, London Business School and author of Break the Rules! The Six Counter-Conventional Mindsets That Can Help Anyone Change the World
'A must-read for all aspiring entrepreneurs seeking to develop startups or restructuring their existing businesses.'
Paul Constantinou AM, Founder, Quest Apartment Hotels
'While banking is the backdrop, the problems they faced will resonate with all entrepreneurs and the lessons in the way they wrestled with the challenges of creating, launching and spectacularly grow a start-up make this an absolute gem of a book for any aspiring entrepreneur.'
Colin McLeod, Professor, Faculty of Business and Economics, University of Melbourne and Executive Director, Melbourne Entrepreneurial Centre, University of Melbourne
'This book can serve as a valuable and practical guide for aspirant change-makers. For me, what sets this excellent book apart from similar ones is its strong focus on fundamentals of business strategy and ensuring their integration into the entrepreneurial journey.’
Steven Maguire, Professor of Strategy, Innovation and Entrepreneurship, the University of Sydney Business School
'Black Belt is a must-read material for every business student, entrepreneur, industry professional and corporate leader aspiring to create a better, just, ethical and moral world. This book sincerely deserves a place in every business school’s library.’
Dr Dimitrios Salampasis (MAICD), Director, Master of Financial Technologies
‘I must say, this is exceptional. The best part about the book is that the authors not only share their real and rich experience but also connect it with other existing work/lessons/knowledge, which makes the learning more comprehensive.’
Krishnamurthy (Krish) Suresh, Interim Co-Lead, Cambridge FinTech Market Observatory, Cambridge Centre for Alternative Finance, University of Cambridge Judge Business School
