Business Opportunities - 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:

Business trends from New York and London 2017

By Pavlo Phitidis

Take five days in New York, and five days in London, add in thirty-one meetings and, what do you get? You get my whirlwind trip that saw me meeting with some of the world’s most aggressive start-ups, to learn more about their businesses, funding approaches, and current trends.

On this week’s The Money Show with Bruce Whitfield, we talked about what I learnt:

How changing the way you look at customers creates the opportunity to build a scalable business

By Pavlo Phitidis

Ultimately, the way you look at the world is the way that the world will turn out to be for you. Just as perspective drives experience, how you define your customer will drive the growth of your business. It’s an incredibly difficult, but highly critical, task that many business owners get wrong – they focus on their product and service, rather than solving their customers’ problems. Defining your customer correctly is critical, if you want to build a scalable business. On this week’s The Money Show with Bruce Whitfield, we outlined the five things you must get right:

How to write the right kind of business plan

I’ve recently read through oodles of business plans, with a sample of ten showing me that: 4 were applying for growth funding; 2 were applying for innovation funding; 2 were looking to fund operations; 1 was looking to fund their business through a share acquisition strategy, and 1 was looking for acquisition funding.

But what makes a business plan truly effective, and just how important are they? For funders and interested stakeholders, business plans are important for evaluating a business’ investment potential. But, unless a business plan has right kind of components; is implemented in the right kind of way, that’s customized to be relevant to its purpose and is – always – a working document, it’s useless. Your business plan should be an introductory document, that invites potential funders and investors into a conversation with you, whether that be a casual meetup or a more formal meeting. It’s an important document, so don’t rely on templates or external specialists to write it for you. The reality of a business plan is that it won’t roll out in real life, but it will serve as a working guideline. On this week’sThe Money Show with Bruce Whitfield, we considered what goes into writing the right kind of business plan:

Part 1: Big business commitments to small business with the launch of the BLSA

I attended the launch of Business Leadership South Africa (BLSA) – which is headed by former Shell CEO Bonang Mohale – last week. It was an exciting event which gives a big business position on building our country.

 

The BLSA has a big, shiny building in Sandton in the heart of big business, but chose the Alexandra Recreation Centre on the East Bank for its launch. It was a poignant move because the message about the role of business in society could not have been better delivered than in that location and environment.

The Four Serial Killers of Every Business

By Pavlo Phitidis 

It may seem a somewhat macabre analogy, but the four serial killers that threaten your business are, most often, not knocking on your window at midnight. Instead, they come from within your business. Serial killers have a particular attitude and behave in a certain way. We considered these four serial killers on The Money Show with Bruce Whitfield: