Day: August 12, 2020

reset rebuild reignite

Read Pavlo’s new book: Reset Rebuild Reignite

Aurik co-founder and business growth expert, Pavlo Phitidis, has released his second book, Reset Rebuild Reignite. Written during the Covid-19 lockdown, Pavlo draws on extensive experience across a wide range of industries, is the founder of multiple businesses,  an investor, a speaker and a respected commentator on entrepreneurial and business growth and innovation.

In Reset, Rebuild, Reignite his starting point is not how to avoid crises – because some are inevitable. Instead, he shows how readers can use any crisis to reset a business to become relevant, rebuild it to scale, and reignite it to accelerate growth by capitalising on the change and opportunities that any crisis brings with it.

Crises mean change. And for any business owner, change means opportunity.

There is nothing new about a crisis stalling or wiping out a business. The COVID-19 pandemic that has hit businesses globally does not feel any more or less devastating to the business owner than if their business was affected by the sudden loss of a dominant client, a trade war, burst water pipes halting operations, intransient employees or their product no longer being relevant to the market.

“In the moment of a crisis, we face two options. Step forward into growth and lead the inevitable change it brings or step back into safety and have its impact imposed on you.”

Stories of business owners who have successfully turned crisis to their advantage are underpinned by Pavlo’s practical, action-oriented insights, tactics and strategies that will equip your audience to tackle any crisis that affects a business.

Get your copy from your favourite bookstore. e-books are already available and physical copies will be in store towards the end of August 2020. Follow the links here.

ignite

Reset, Rebuild, Reignite as a strategy in any crisis and the evidence it works

For those businesses that reset their businesses to cope with the lockdown, are rebuilding their systems to entrench their positioning, the data says we are 3 to 6 months away from reigniting revenues.

Pavlo Phitidis drew on a random portfolio of 50 Business to Business (B2B) SME clients, and identified four data points which suggest that these businesses have hit the bottom and are now turning up….at pace.

Listen to him talk about his findings on The Money Show on 702 and CapeTalk:


What data was used

Four data points were used. Average monthly turnover, average monthly profitability, average number of jobs all over a running 3-month average. The fourth data points make up the 7 periods of measure from Nov 2019-Jan 2020 through to May 2020-July2020.

What did the data show

These seven periods of measure take us from a normal economy to level 5 lockdown and then move to level 3 lockdown.

 

3 Mnth Average Turnover Profitability Jobs Economy (Months)
Nov’19 – Jan’20 -6% 29% 1,601 3 open months
  Summer holiday period fall in sales, temporary jobs to cope with load
Dec-’19 – Feb’20 10% 101% 1,424 3 open months
  Jan, Feb restocking of product and service to get going, job changes
Jan’20 –  Mar’20 1% -75% 1,501 2 open, 1 lockdown level 5 month (L5 lock)
  1st month of lockdown, profitability plummets with a 3 week anticipated lockdown not reducing costs
Feb’20 –  Apr’20 -2% -10% 1,395 1 open, 2 L5 lock
  Now evident more than 3 week lockdown, retrenchments activated
Mar’20 –  May’20 -17% -36% 1,099 2 L5 lock, 1L4 lock
  Full lockdown shock, cost reduction, RESET phase activated
Apr’20 –  Jun’20 -2% 78% 1,099 1 L5 lock, 1 L4 lock, 1 L3 lock
  RESET phase complete, new business model emerging, REBUILD phase activated
May’20 –  Jul’20 -8% 146% 1,263 1 L4 lock, 2 L3 lock
  REBUILD phase ongoing, readying for REIGNITIOIN, employment of new talent picks up

 

What does the data confirm

Every crisis should see every business owner adopt a 3-phase strategy in response.

  1. Reset your value proposition
  2. Rebuild your system of delivery
  3. Reignite your growth

At Aurik we have been working with businesses throughout the lockdown to do just this, contact us to find out how we can work together to Reset Rebuild and Reignite your business.

Build to sell

WATCH: Build to Sell discussion

How many hours have you worked on your business? Do a quick calculation based on hours per day, days per week and weeks in each year that you have been working on your business. The average among established business owners is around 40 000 hours.

And yet we only spend between 30 and 60 hours in total to sell our most valuable asset.

Pavlo Phitidis hosted an online discussion with business owners in which he advised that  every day we spend in our business, should be spent building it to become a saleable asset.

Watch the recording and  contact us to discuss your business exit strategy.


 

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