How to build a retail empire very, very slowly
Retail is notoriously difficult, but if you have a great product targeting consumers - you need to get it right. Pavlo Phitidis discussed some key issues that you need to be crystal clear on before embarking on a retail strategy. Listen to the podcast or read the blog here
EMIGRATION: Its cost and opportunity to a business owner
Over the last month, I have had two same, but different meetings with two different business owners. They were the same because the issue that came up was emigration. Different because one was emigrating and the other was suffering from staff emigrating.
Why waiting to act becomes the only act and how to ‘snap’ the bad habit
With the South African elections now come and gone, it feels like we have passed a milestone that we were all holding our breath for.
How to structure the offer of a Management Buy Out
A hardworking, smart professional presented me with a scenario on an offer she had received to conclude a management buy-out.
She has a good relationship with the founder and is a top technical expert in the business. he is reaching a retirement horizon and has confirmed that the future lies with her. He has said that the business will one day be hers and that incentives will be provided to ensure her slice of the pie should she bring new business in.
Building a business is like sailing a ship
Analogies are very useful to simplify thinking and action. As a #businessowner, building a #business in a challenging environment creates noise and chaos. Gaining clarity, certainty and confidence helps manage the noise and emotion to provide right action and timing in your journey of building your business. A good analogy helps you get this right.
Creating wealth through your business
Wealth describes an abundance of a desirable thing. It could be friendship, love, money, access to a foodstuff and so on. From the context of a #businessowner, what does wealth mean and how do you create it? In conversation with BruceWhitfield on Radio702 and CapeTalk, PavloPhitidis defined the three components of wealth creation in the context of a private business.
Build resilience into your business to take control of your future
We often hear about being resilient to thrive and survive in business today. Why does this matter and what does it mean?
What is your business building approach to 2019: Chose one of 3 strategies
2018 has been an exhausting year. Taking time off is important, so long as you don’t break the momentum of your business. Start the new year with an invigorated perspective, clarity, and confidence, and spend some of your holiday defining your 2019 business strategy. It starts with making the right decisions for your business. On The Money Show with Bruce Whitfield, Pavlo Phitidis shows you how:
Why Collaboration is a Critical Skill for Every Business Owner
We’ve entered the age of collaboration. Despite current events, like BREXIT, that showcase the opposite, collaboration remains an important tool for business success. Getting it right is critical. Effective collaboration can accelerate your business growth and building an Asset of Value. On The Money Show with Bruce Whitfield, Pavlo Phitidis set down a plan for business owners to develop effective collaboration skills and strategies:
Turn 2018’s Exhaustion into 2019’s Business Acceleration
Year-end fatigue is setting in - 2018 has been a tough year emotionally, economically, and physically. But that’s not much different to previous years. The opportunity to energise now, for the new year ahead, is also exactly the same. Don’t let year-end fatigue weigh you down - it’s time to gear up and forge ahead. On The Money Show, with Ray White standing for Bruce Whitfield, Pavlo Phitidis shows us how to turn 2018’s exhaustion into 2019’s business acceleration:.
Immigrating talent for a quick but enduring economic boom
If we can attract 100 000 STEM qualified immigrants, we can not only bridge the skills gap that is stagnating our growth, but we will rapidly inject billions into our economy through spending, tax and investment in SA by these immigrants. In addition, their skills and ambition will drive innovation and make us competitive, if not leaders who are able to export our solutions to the rest of the continent and the world.
Read more about this idea which Pavlo shared with The Money Show on 702 & CapeTalk, or listen to the podcast.
Creating opportunities that didn’t exist before
Creating economy is a key entrepreneurial skill. Its something that is entirely possible irrespective of the environment you trade in. It needs an adept, curious mind and courage. It also needs a well developed and relevant asset stack.
Winning mindsets turning thought into action and action into results
The distinguishing feature between business owners who crack it and those who drift along, and fail… is mindset.
Position your business for success and maximum impact
Wing Chun Kung Fu, a style of martial arts, requires that you have a secure footing on the ground in all its defensive and offensive actions. This footing “anchors” you to the ground. It translates the force of your strike or block from your foot to your knees to your hips and torso to your strike or block. It lends integrity, strength and power to your action be it a kick or a punch.
What’s your business worth?
Firstly, this only matters for 5.4% of all #businessowners since 94.6% of all business started fail to sell. They close at great cost to the business owner, their family, employees, the sector and industry they are in, customers and suppliers and the economy of the country they operate from.
Developing an effective marketing strategy
If you can’t and don’t get potential customers to know that you exist, they don’t care and you die. They don’t care because there is very little special about you. Should you not be there, they will get what you were selling from the next business selling it. This is the mindset of a successful marketer.
Escaping the project revenue trap and why you should do it
Recently, at an Asset of Value event in Johannesburg, South Africa, a room bristling with 58 business owners that collectively generate annual revenues in excess of R3bn, gathered. We spoke about building an Asset of Value in a tough economy including growing in a slow economy, socio-political noise impairing investment and a dearth of skills in the marketplace.
How to Deal with Nightmare Partnerships, Collaborations & Joint Ventures
Collaboration is a key element for building your business into a successful Asset of Value. But, not every joint venture works out the way your business needs it to. Spotting, and dealing with, nightmare partnerships before they ruin your business is vital. When you find a partnership that works well, hang on to it tightly. On The Money Show with Bruce Whitfield, Pavlo Phitidis outlined what could go wrong in your joint venture, and what to watch out for:
Foresight and action can turn the potential sales you book in 2018 a certainty in 2019
You’re winding down towards the end of 2018, and preparing to lock and load the early sales for 2019. If you’re not in this space, your first sales will only flow into your business towards the middle of next year. That could be a death knell for your business. Get selling, don’t stop, and keep your business momentum moving. But, even as you prepare for success, you need to prepare for disappointment in 2019. Many of those early sales you’re gearing up for...won’t happen. On The Money Show with Bruce Whitfield, Pavlo Phitidis discusses how you can prepare for disappointment, and mitigate the effects of your early 2019 failed sales:
Building a Branch Network for Your Business
Building a branch network for your business is still relevant and appropriate, despite the exponential growth opportunities offered through online platforms. But, expanding your business through physical branches can only achieve so much. Ideally, a click and brick strategy, that combines both physical and online expansion, is best for enabling and supporting business growth. On The Money Show with Bruce Whitfield, Pavlo Phitidis explained the all-important aspects of building a branch network for your business: