‘1.3% OF COMPANIES SURVIVE WITHOUT FOUNDERS’

MBABANE – Pavlo Phitidis, an entrepreneur, investor and Co-Founder and CEO of Aurik Business, says 1.3 per cent of companies survive without their founders.

Pavlo was facilitating a business battleplan workshop hosted by AM Consultancy in collaboration with Aurik Business. The mind-opening session for local businesspeople was held at the Royal Villas last Thursday. He shared that if one’s business cannot run without them (owner), it is not a business, it is a job. The session was aimed at assisting local chief executive officers (CEO) and other business leaders to sharpen their strategies to grow their businesses amid recurring problems that impede business growth. Worth noting is that Pavlo has over 25 years of direct experience in conceptualising and building businesses across three continents. He has developed and brought to market business assets in excess of US$450 million through a combination of business start-ups, turnarounds, sales and acquisitions.

Using his hands-on experience, business capabilities and relationship networks, he continues to support the growth of business owners through Aurik, a venture capital business growth service. Pavlo is a regular media commentator, an international speaker on business growth and author of the best-selling, ‘Sweat Scale $ell’ as well as his newest title: ‘Reset Rebuild Reignite.’ In his presentation, Pavlo highlighted that it was important for business owners to create their businesses with the intention to grow those businesses and turn them into assets of value.

Portion

He stated that the reason why the portion of businesses surviving without owners was so small was simply because most businesses were not growing enough in order to be sold in the near future so that they may continue existing. He said businesses must be built to be sold in the future. The expert highlighted the steps that business owners must follow in order to build their businesses into an asset of value. He said in order to reach the point whereby the business becomes an asset of value, they should be well positioned to win in a changing world, enabled by reliable operating procedures and systems, and empowered by a purposeful team to generate consistent organic growth. He shared with the captains of industry that the above steps would release time for them to focus on their next level of  growth, innovation and profitability.

He said the outcome should be growing a, more profitable business that has the likelihood of being sold for premium value in the future. He stated that there were three important pillars to follow in order to turn one’s business into an asset of value and that was income growth, capital appreciation and tradability. He added that it was important for business owners to understand their customers and then find a way to set their products apart from those of competitors. Pavlo stated that it was important for the business owners to fully understand why customers were using those products and what problems were being solved with those products.

Meanwhile, Anita Jones from AM Consultancy encouraged any company to look at Aurik to make their business a true asset of value. She highlighted that AM Consultancy has been on the Aurik journey for a year with them and it has grown their company exceptionally. She said even after being in business for 30 years, they have learnt so much and the amazing facilitators from Aurik have challenged them to a new level.

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