Business Risks

The constantly changing environment faced by entrepreneurs means that their business could change overnight. The Aurik process changes how a business is built to have the necessary structure, forecasting tools and agility to survive and take advantage of any unexpected changes. Some of the risks faced by our entrepreneurs are:

Dominant customer

This business had one great corporate client that took care of 68% of turnover. Jeffrey knew he shouldn’t be so reliant on this customer but no matter what he did he couldn’t extract himself from the demands of the customer.

Working with Aurik, Jeffrey completed an extensive market evaluation, customer development and promotional plan to reach and secure new customers. Today that corporate client makes up less than 10% of revenue.

Single product

Jerome’s annual turnover almost topping $5 million was generated by a single product. He had countless sleepless nights worrying about the sustainable of his business. Past attempts at finding an alternative had cost him dearly.

Working with Aurik, Jerome redesigned his entire business to focus on customers and not a product which then gave light to a new set of services and ancillary products that spoke directly to their needs.

Today revenue is made up of a number of products but also annuity revenues from the same customer.

New competition

James’s business thrived on a strong currency. The ongoing uncertainty generated by socio-political and economic business environment was hindering James’ ability to plan effectively. In addition, his leadership team lacked the temperament to adapt.

Working with Aurik, new objectives were set focused on definitive customer needs. The production and manufacturing capability was bolstered by strong systems. James and his leadership team now had far more time to face challenges together and react more quickly.

The business became robust but agile - faster decision making and quicker processes meant that changes could be dealt with easily whilst always remaining relevant to their customer in a changing market environment.