Aurik Blog

Attaining excellence in business starts with you

Oct 15, 2019 4:48:28 PM / by Pavlo Phitidis posted in Asset of Value, Business Owner, Hubris, Excellence, Next Level, Winner's Mindset

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Do you rate yourself?

Being in business, doing business and building a business tests your sense of self. Business is conflictual. Starting one requires you to take away business from someone else. Looked at differently, it means you have to fight for your piece of the pie and the established incumbents won’t want to share any of it with you. Think school shoes. If there are 6 million kids that buy school shoes every year and you enter into that market with another school shoe, the success of yours is the loss of your competitors.

LISTEN TO THE PODCAST FROM THE MONEY SHOW ON 702 & CAPETALK HERE

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CREATE MORE TIME TO FOCUS ON GROWTH

Oct 4, 2019 11:35:26 AM / by Pavlo Phitidis posted in Business Growth, Asset of Value, Business Owner, Create time, Sweat Scale $ell

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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.

As the owner of a developing business, you can, and should create time to grow the business, and work on it, instead of in it. We'll examine seven strategies that help you create more time, and spend it wisely.

Listen to the podcast from The Money Show HERE

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POSITION YOUR BUSINESS FOR SUCCESS & MAXIMUM IMPACT

Oct 4, 2019 11:34:43 AM / by Pavlo Phitidis posted in Business Growth, Asset of Value, Business Owner, Sweat Scale $ell

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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.

Building and growing a business is no different. It all begins with positioning and leads all the effort and activity based on that positioning. Weak positioning or poorly articulated positioning will lead to misguided actions, investments, hires and decisions. It fragments and crumbles the businesses platform, leads to a life of chaos and frustrations as a #businessowner and will almost assure you a future where what you have built will never be saleable.

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WHAT IS YOUR BUSINESS WORTH?

Oct 4, 2019 11:31:01 AM / by Pavlo Phitidis posted in Asset of Value, Building your business, valuation, Sweat Scale $ell

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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 .

The  second part of the answer is “not nearly what I thought or hoped it would be worth” or “not enough in terms of what I need”.

Start now to prevent these fateful outcomes by taking control of two things. Understand how  valuation  of  a business  works and start building your business differently today to secure the valuation you want in the future. It can be done, and this is how.

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How to use your business to fund emigration

Oct 4, 2019 11:07:20 AM / by Pavlo Phitidis posted in Business Growth, Asset of Value, Business Owner, valuation, BusinessSale

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Many enquiries we receive are to do with business owners who want to sell their businesses and emigrate. They are frustrated. Mostly, they have set their sights on New Zealand, Australia, the UK or the US. They feel that the future in SA is bleak, their kids will suffer limited opportunities, there is no economic growth and that government is business unfriendly. So why then have they not done it yet? Mostly it’s because they cannot sell their businesses for a value that will support their emigration and are struggling to find buyers to boot.

If this is you, you're left with two options.

You can blame someone. That feels great for the first 5 minutes, but it doesn’t resolve your frustration or predicament.

Alternatively, you can get your s**t together, act and turn your frustration around. If that sounds good to you, here are the steps to get it done right.

Listen to the podcast HERE

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How Aurik is growing in a no growth economy by investing in SMEs

Sep 27, 2019 11:52:41 AM / by Pavlo Phitidis posted in Business Growth, Asset of Value, Next Level Growth, SME, Building your business

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Aurik’s move to bigger and better offices at the end of September shows that growth is possible in a no-growth economy.

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Position your business for success & impact

Sep 17, 2019 3:49:55 PM / by Pavlo Phitidis posted in Business Growth, Asset of Value, Business Owner

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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.

Building and growing a business is no different. It all begins with positioning and leads all the effort and activity based on that positioning. Weak positioning or poorly articulated positioning will lead to misguided actions, investments, hires and decisions. It fragments and crumbles the businesses platform, leads to a life of chaos and frustrations as a #businessowner and will almost assure you a future where what you have built will never be saleable.

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What is your business worth?

Sep 9, 2019 11:22:17 AM / by Pavlo Phitidis posted in Asset of Value, Building your business, valuation

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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 .

The  second part of the answer is “not nearly what I thought or hoped it would be worth” or “not enough in terms of what I need”.

Start now to prevent these fateful outcomes by taking control of two things. Understand how  valuation  of  a business  works and start building your business differently today to secure the valuation you want in the future. It can be done, and this is how.

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Why, when and how to sell your business

Sep 9, 2019 11:09:14 AM / by Pavlo Phitidis posted in Asset of Value, Succession, Selling your business

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Every business only has two destinations: it closes, or you successfully sell it. Globally, however, 94.6% of all businesses that begin, never get sold. This is tragic for business owners, because they pour their life, energy, and attention into a building a business that should serve them and offer them financial security. But why would you sell your business, and when is the right time to do so? On The Money Show with Bruce Whitfield, Pavlo Phitidis outlined a plan for how to sell your business:

Listen to the podcast HERE.

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Build your business by building the right team

Sep 9, 2019 11:03:41 AM / by Pavlo Phitidis posted in Asset of Value, Building your business, team, people

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As a small business owner, your biggest investment will be your staff. How you hire, who you hire, and when you hire, will have the biggest – positive or negative - effect on getting your business to the next level or not. On The Money Show with Bruce Whitfield, Pavlo Phitidis outlined his approach to getting recruitment right:

Listen to the podcast HERE.

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