Business Development - Aurik Business Accelerator

Adapt to changing customer behaviour or die

By Pavlo Phitidis

A 159-year old icon of retail in South Africa closes shop on 01 August. Failing to evolve in a changing world means extinction. On this week’s The Money Show with Bruce Whitfield, we dissected the failure of Stuttafords and what types of lessons, or opportunities, can be discovered from the way this iconic retail giant fell:

Building a business to survive and thrive in a Junk Status economy

By Pavlo Phitidis

The recent downgrade of South Africa’s credit rating to Junk Status will have a dramatic effect on our economy changing our socio-economic environment and introducing new challenges to business survival. This week, on The Money Show with Arabile Gumede we considered what this downgrade means for growing businesses, and looked at ways you can adapt to not just survive these circumstances, but thrive beyond it:

Create more time in your business to focus on growth

By Pavlo Phitidis

Time is our most precious resource, but it seems like we never have enough of it. The second entrepreneur Aurik ever gave guidance to, was a bakery business owned by a 54-year old man, who had initiated the company at 27. It was highly successful, but he’d not been able to focus on its strategic growth because all his time was tied up in operations. Fourteen years after we rebuilt the business with him, it now creates more than a Billion Rands’ worth of business.

Fighting qualities that build great businesses

By Pavlo Phitidis

For entrepreneurs, adopting the art of fighting is imperative, because building a business is a fight. Recently, I’ve watched as more and more people, and business owners, step up and start fighting for the future they want. Professional fighters know, however, that the act of fighting isn’t a raw spark of rage. To win, fighters must have courage, strategy, tenacity and an insatiable will to succeed. It is the same for entrepreneurs, who need to care about every aspect of their company, be creative at every turn, and remain courageous throughout their business journey. 

On this week’s The Money Show with Bruce Whitfield, Ray White stepped in for Bruce, and we dug into the fighting qualities that build a business:

How to avoid a horror story when buying software for your business

Technology is both a driver and frustration for every person and business. Every business no matter what business you are in is now a technology business. On a lighter scale, it's about emails and software programs that support your team.

In a competitive environment you need to use tech to give you an advantage and set yourself apart. You cannot avoid the use of technology. Regardless of the type of business environment you work in you must embrace and engage with technology correctly.

Part 2: How to protect your growing business from big business theft

The tender trap

 

After the launch of the BLSA, and the commitments made by big business to entrepreneurs, it sparked a train of thought about the intentions of big business in the tendering process.

 

It got me thinking that over the last year, many entrepreneurs have spoken to me about tenders and the tender procedures from public and private big business that were issued, but not implemented. Why is this? Could it be because of flexing budgets? After all, operational needs do change.