This Week@Work a meeting with a pump business reminded Pavlo how complex and complicated businesses can become as they grow. To be able to scale, successfully, you need to understand clearly where your focus and investment should go. To get this right, think about your business like an onion. Watch as Pavlo shares the Onion Method.

Our 2022 report provides a comprehensive, integrated overview of our financial and ESG performance, together with strategy, risks and opportunities, stakeholder engagement and governance. For a complete understanding, this report can be read in conjunction with our  Transparency Report  released in April this year. One of our key challenges in the year under review, among other things, was the ‘Great Resignation’.  The report details how we retaining, attracting and developing our extraordinary people by creating an enabling culture. It also details our solid financial performance and the way we have responded to challenges like mandatory audit firm rotation. Read the full report

Running a business based on project revenue models can be a roller coaster ride. Money comes in only when a project lands, and business owners are sucked into high-risk projects that make it difficult to budget, plan, hold onto skills, stabilize suppliers, and scale. Every project feels like a game of roulette due to factors beyond your control, such as weather and the availability of resources. To escape the tyranny of project revenue models, some businesses have changed their approach. Let’s take a look at a few examples in various sectors: Construction Firm : This 2nd generation family construction business was hit hard by COVID-19 as big developments stalled. They responded by creating a designer-shack that was quick to erect, multi-functional, and aesthetically pleasing. It could be used for versatile spaces including a home gym, an office, a bar, a DIY workroom, garden shed or a kids’ playroom. They found opportunities in multiple channels to market, such as website sales, retailers in hardware and building supplies, gym equipment distributors, realtors and estate agents, office furniture stores, architects, furniture stores selling bar-related furniture, liquor stores, and overseas markets for flat-pack, easy-to-erect versions of the product. Software Developers : Two partners in a software development firm solved problems for big-brand corporate clients that the big-brand tech companies could not. They analysed all of their past projects and identified localsation trends, orienting their business around software solutions to manage complex SME value chains. Advertising Agency : Two partners in an advertising agency prided themselves on bespoke, thinking-outside-of-the-box solutions, but they struggled with a project-driven business model. After positioning their service to zone in and focus on developing and producing brochures for vehicle manufacturers, their understanding as to how the brochures were used to promote, educate buyers and support the sales and marketing efforts of dealers allowed them to secure a consistent and reliable stream of projects. This flattened out their event-based revenues into a steady stream of revenue, allowing them to hold onto talent, increase their return on marketing spend, build distinction and competence, and secure a capital buyout. To get it right, you need to understand your purpose; your and intent, make a commitment to achieve that, create a path to exit, focus on a single goal, dedicate the first 90 minutes of every day and the last two hours of every Sunday to this goal. you may need to split responsibilities and fund one from the other, set milestones that shift time, attention, and resources, hire with the end in mind, and chase the transaction in the old business while building relationships in the new one. Unfortunately, not every business gets it right. The construction firm sold two of their designer units and got sucked back into a new project, and nothing has changed. But for those who succeed, the rewards can be significant. The software firm has built a product that aligns with current trends and now generates approximately 85 million in annuity revenues across 350 clients. The advertising firm specialized in motor vehicle brochures and POS, created a repeatable, teachable process, built brand and reputation, and sold out in 2017 to a big agency for R23m. By changing their approach, businesses can escape the tyranny of project revenue models. However, it takes commitment, focus, and a willingness to take risks to make it happen. Originally published: https://aurik.com/2023/02/28/antidotes-to-the-tyranny-of-project-revenue-models/ https://aurik.com

The Employment Tax Incentive (ETI) in South Africa is a government programme that aims to encourage employers to hire and retain young workers. The incentive is intended to reduce the cost of hiring and retaining young employees by providing a reduction in the amount of Pay-As-You-Earn (PAYE) tax that an employer is required to pay. To be eligible for the ETI, the employer needs to be compliant with SARS in terms of no outstanding amounts owing to SARS. This could be in terms of VAT, UIF, SDL, PAYE or any other non- compliance with SARS relating to the employer’s PAYE reference number. The employee eligibility can be seen below: An employee must be between the ages of 18 and 29 years old The employee must also earn R6,500 or less per month in terms of their gross remuneration figure The employee should have been employed on or after 1 October 2013 Employers can claim the ETI for a maximum of 24 qualifying months for each qualifying employee If the employer is not subject to wage regulating measures, the employee’s wage should be at least R2000.00 per month if they are exempt from the national minimum wage. If the employer is subject to the wage regulating measures, then the employee’s wage should not be less than the prescribed minimum wage for the employer’s industry. The incentive works by reducing the amount of PAYE tax that an employer is required to pay on behalf of a qualifying employee. It is important to note that the ETI is only available to employers registered for PAYE with the South African Revenue Service (SARS), and that the incentive is claimed on a monthly basis by the employer when submitting their monthly Emp201 declaration to SARS. Overall, the Employment Tax Incentive in South Africa is a valuable tool for employers looking to hire and retain young workers, as it can help to reduce the cost of doing so. Employers who are eligible for the incentive should make sure to take advantage of it to support the employment of young people in South Africa. This programme is a great way for employers to give back to the community and contribute to the reduction of youth unemployment and economic growth in South Africa. The ETI came into effect on 1 January 2014 and it will end on 28 February 2029. LABOURNET SERVICES Our services are designed to improve business efficiencies, ensure compliance and provide you with peace of mind that your payroll administration and management activities are accurate and always accessible with one goal in mind – improving your bottom line! Choose the solution best suited to your requirements: For the matured business, access to all modules in the application to facilitate the employee’s full life cycle with technical infrastructure, system support, and expert legislative knowledge as and when required. Supported Payroll Service Not the conventional outsourcing model but rather an extension to your business, full facilitation of your payroll process from employee engagement to termination. Full Outsource Payroll Developed by leading payroll experts and developers, cloud-based PSIber Payroll delivers a truly unique payroll system that can be used by clients in any industry and of any size. The system automates complicated payroll calculations and processing through its sophisticated yet user-friendly functionality – and is easily accessible from your phone, computer or tablet. Reporting is comprehensive and flexible, while processing of all statutory requirements is both simple and accurate. T: +27 (0)31 266 6570 C: +27 (0)82 786 7480 E: johanvd@labournet.com W: www.labournet.com

This Week@Work Pavlo went to play in the traffic, to make a point about actively hunting for business, rather than passively waiting for it to come to you. Business Development is more than marketing or sales and it allows us to see the opportunities in the market, which you can’t see if you’re simply waiting for the phone to ring. Your prosperity is largely in your hands. It's also in the wellbeing of your suppliers, customers, friends and family who run their own businesses. You're welcome to share This Week@Work with them. Subscribe to receive This Week @ Work Pavlo Phitidis www.aurik.com

We are proud to be the first ActionCOACH franchisee to have launched our new C.A.R.E Eco-System in South Africa! Our Entrepreneur Membership focuses on 4 things. Community + Accountability + Results + Education and is a unique pairing of a peer partner program, group coaching, and for those who are Elite, a monthly mastermind moving your business forward. This is more than just a network, this is an opportunity to 30x Your Life & Your Business! We are holding our 2nd MemberSHIP Event on Tuesday 25 April . This full-day business workshop will provide a platform to build valuable and life-long relationships, solutions to your business challenges, and tools and strategies to grow your business and you in every area. You will also have plenty of opportunities to network with other business owners in the room and leave the day with new business relationships and a greater understanding of how to grow yourself personally as well as your business. Click here https://lnkd.in/d4xQnCFj to join like-minded business owners.

As an entrepreneur, it’s easy to get caught up in the day-to-day operations of your business. After all, there are endless tasks that need to be done, from managing employees to coordinating with vendors to ensuring that customer orders are fulfilled on time. However, if you want your business to truly thrive and grow, it’s important to shift your focus from working IN your business to working ON your business. What does it mean to work ON your business? Essentially, it means focusing your time and attention on the strategic initiatives and developments that will drive growth and success in the long run. This includes things like identifying new market opportunities, developing new products and services, and creating scalable systems and processes that can support growth. On the other hand, working IN your business involves focusing on the day-to-day operations and activities that keep things running smoothly. This might include managing employees, handling customer inquiries, and ensuring that products are delivered on time and on budget. Of course, both types of work are essential for a successful business. However, if you’re spending too much time working IN your business, you may find that you’re not able to devote enough time and energy to working ON your business. This can ultimately limit your ability to grow and scale your business over time. So how do you make the shift from working IN your business to working ON your business? One approach is to conduct an ON vs IN audit, which involves creating a spreadsheet to track your time and attention across different business functions and activities. For example, you might create columns for input functions, activities you perform, minimum time required per activity, frequency per month, and time allocation per month. This can help you to identify areas where you’re spending too much time on day-to-day operations and not enough time on strategic initiatives and growth-oriented activities. Ideally, you should aim to spend at least 70% of your time working ON your business and at most 30% of your time working IN your business. This balance can help ensure that you’re dedicating enough time and energy to growth-oriented activities, while still ensuring that your day-to-day operations are running smoothly. To make the shift from working IN to working ON your business, you may also need to focus on simplifying, systematizing, and delegating your business operations. This might involve streamlining your processes, automating routine tasks, and delegating responsibilities to trusted team members. Ultimately, the key to working ON your business is to build a scalable platform for growth, then focus on driving growth through strategic initiatives and developments. By taking the time to step back from day-to-day operations and focus on the big picture, you can position your business for long-term success and create a lasting legacy for yourself and your team. Originally published https://aurik.com/2023/03/28/what-does-it-mean-to-work-on-your-business-not-in-it-and-why-does-it-matter/

The Isle of Man is a leading international business centre renowned for its innovation, professionalism and long-standing policy of positive engagement with international initiatives and standards. We hereby invite you to learn more about what the Isle of Man has to offer. Join us to explore our fascinating country and let’s see how the Isle of Man can play a role in your future, your business’ future and the future of your family’s wealth. The panel discussion will focus on the theme: Opportunities and challenges in globalising your family and business. Book your seat here JOHANNESBURG 19 APRIL 2023 THE MARRIOT (MELROSE ARCH) 08:00 – 12:00 DURBAN 21 APRIL 2023 RADISSON BLU OCEANS (UMHLANGA) 08:00 – 12:00 CAPE TOWN 24 APRIL 2023 THE VINEYARD HOTEL (NEWLANDS) 09:30 – 12:30 CAPE WINELANDS 25 APRIL 2023 CAVALLI ESTATE (SOMERSET WEST) 09:30 – 12:30

The 2023 Innovate Durban Pitching Den took place on March 28th at the Innovation CoLab in Durban and brought together some of the most innovative startups from the KwaZulu-Natal region. As one of the premier events for innovators and entrepreneurs, it was an opportunity for funders and venture capitalists to discover new talent and invest in the future of South African innovation. Over 80 applicants were narrowed down to just 15 participants, who underwent rigorous pitch training and coaching sessions ahead of the event. The winners were announced at the end of an intense morning of pitching, with Senele Goba of 4IR Innovations emerging as the first-place winner. Goba's innovation targets learners in grades 4 to 12 and encourages their involvement in STEM-related fields and activities. She presented a versatile problem-solving electrical kit that enables learners to solve complex problems. Second place, with a prize of R35 000, went to Farai Dziike and Nelisa Mabaso from Bio Mhlaba Brick Company. Their innovation addresses the growing problem of waste recycling, by creating bricks from different types of waste materials, particularly plastics, in a sustainable and useful way. In third place, Francis Djumo from Royaume: Smart Inflow Meter secured a prize of R25 000 with their innovation involving a smart meter. The system can save households up to R600 worth of water by monitoring and controlling the water supply, with a feature that can detect leaks. These cash prizes are awarded as part of the Pitching Den initiative, which is one of various programs aimed at supporting and showcasing innovation in the KwaZulu-Natal region. Innovate Durban is an organisation dedicated to highlighting and supporting innovators and innovative start-ups in the KwaZulu-Natal region. The Pitching Den is just one of many initiatives aimed at creating a platform and networking opportunities for innovators, while linking them with venture capitalists and angel investors. The Pitching Den initiative provides a unique opportunity for venture capitalists and other funders to discover innovative start-ups in the KwaZulu-Natal region. Through extensive pitch training and coaching sessions, innovators are equipped with the critical skills needed to effectively pitch their business ideas to potential investors. “Our ultimate goal is to bridge the gap between promising start-ups and investors, while also showcasing the exceptional talent and innovation present in the region," said Sithabile Cele, Marketing and Events Manager for Innovate Durban. The panel of judges for the Innovate Durban Pitching Den included Ramsay Daly, Co-CEO of Ikhokha, Justice Matarutse, Programme Manager of Innovation at eThekwini Municipality, Christopher du Plessis, Digital Lead Southern Africa at Royal HaskoningDHV, Udi Pillay, Partner at Adams & Adams Attorneys, and Aurelia Albert, Chief Executive Officer at Innovate Durban. The Innovate Durban Pitching Den is just one of the various programs hosted by Innovate Durban aimed at supporting and showcasing innovation in the region. With more events and programs like this, the KwaZulu-Natal region is sure to produce more innovative ideas and businesses that will transform the local economy. For more information on the Innovation Publication 2022, including partnerships or exhibitions contact:   Sithabile Cele Marketing & Events Manager – Innovate Durban  Tel: 087 365 3131 | Email: sithabile@innovate.durban      Social Media Handles:  Web https://www.innovate.durban/   Facebook https://www.facebook.com/innovatedurban    Instagram https://www.instagram.com/innovatedurban/

Bell Equipment has identified underground mining as an opportunity for growth. It has created a dedicated OEM business division to pursue this goal, including expanding the existing product range, providing specialised customer support, and establishing new global markets. Anton Wheeler has been appointed to head up this division. He brings a wealth of expertise from both his long career in the mining industry, where he held executive management positions with several leading platinum mining companies, and in manufacturing, where he was chief executive officer of an OEM that specialised in underground equipment. He is also a past Chairman of Mining Equipment Manufacturers of South Africa. “A key part of our strategy is to grow our portfolio of products,” said Wheeler. “Currently, we have two underground mining products, our Bell Underground Articulated Dump Truck (ADT) and a Bell Rock Scaler. Both products have been well accepted in our existing African markets for their built-in levels of safety, use of latest technology, and lowest cost per tonne productivity, and we see the opportunity to develop our range further.” According to Wheeler, Bell has identified as an opportunity a 6t low profile Load Haul Dump (LHD) loader to enhance the group’s offering. This machine is in the design phase and will be commercialised by 2024. “Our strategy is to grow the product portfolio rapidly over the next few years to be able to meet the needs of customers involved in this industry. “Bell Equipment's underground mining products have recently been sold and branded through a dealer in South Africa, but we feel that it is better to be closer to our customers by managing the entire value chain from design to onsite support. We will be fully geared up to support both new machines as well as any historical units that are in service.” Understanding the complexities and requirements of this specific sector, a specialised underground mining division has been established within the group’s own South African dealer network, Bell Equipment Sales South Africa (BESSA), to provide dedicated and focused sales, parts, and aftermarket support for the underground product portfolio in South Africa. Appointments are underway to make sure we can deliver to our customers’ expectations. Wheeler explains: “Our underground mining equipment portfolio is all locally designed and manufactured at our factory in Richards Bay. BESSA, through the newly formed division, will take care of support. BESSA is a 51% blacked-owned and 30% women-owned sales and support entity, with a Level 1 B-BBEE rating. Purchases from this entity will hugely benefit our customers in terms of their own B-BBEE scorecards.” As the product portfolio develops and the additional roots to markets are established, Bell also plans to leverage its global network of independent dealers and Bell-owned subsidiaries to grow its underground mining presence worldwide. Bell Equipment Group Chief Executive Officer, Leon Goosen, said: “This global growth initiative follows our strategy to invest in and generate more product IP [intellectual property]. Our new developments will build on the achievements of our existing underground mining products, which are already at the forefront of safety requirements with the stringent PDS Level 9 built into the DNA of our 30t and 35t underground ADTs. We have also leveraged our autonomous learnings from our surface trucks to satisfy future vehicle control requirements as the market is ready for these. We are very excited about the future having embarked on other growth initiatives and new products that we will communicate more about soon.” Additional information: The Bell E-series Rock Scaler is a highly manoeuvrable machine that delivers exceptionally low fuel burn, operating, and maintenance costs for the lowest cost solution. It features customer-focused improvements, including a slewing boom for improved control and functionality and a sealed air-conditioned cab with improved operator ergonomics. Bell Equipment’s latest generation underground ADT was introduced in 2021. Available with 30t or 35t capacity, both models are powered by a high-performance Mercedes Benz engine with an Alison transmission to provide a superior power-to-weight ratio and fuel efficiency gains. In addition, levels of safety are built-in, making the trucks Level 9 ready with PDS (proximity detection system), remote control, and autonomous systems. The trucks offer many of the same standard safety features and productivity advantages of their acclaimed surface counterparts, including keyless start, Hill Assist, speed control, Bin Tip Prevention, Auto Park Application (APA), and Turbo Spin Protection to protect the engine. Regarding productivity, the Bell B30L and B35L are now fitted standard with onboard weighing and Bell Equipment’s proprietary fleet management software, Fleetm@tic®, so that machine owners can access daily production figures. Contact: Stephen Jones, Director – Group Engineering, Marketing, and Product Portfolio Bell Equipment Co. SA. Direct: +27 (0) 35 907 9431 Fax: +27 (0) 35 797 4323 E-mail: stephen.jones@bellequipment.com www.bellequipment.com Anton Wheeler – Underground Division Lead Bell Equipment Co. SA. Direct: +27 (0) 11 928 9841 Fax: +27 (0) 11 928 9753 E-mail: anton.wheeler@bellequipment.com www.bellequipment.com

This Week@Work, Pavlo was reminded of the necessity to reset, rebuild, and reignite your business annually as a practice to ensure it’s relevant, optimised, and set for growth. Don’t get caught with your pants down because of comfort, complacency, boredom, or exhaustion. You’ve worked hard to create the value you have; be sure to vigilantly nurture it! Your prosperity is largely in your hands. It's also in the wellbeing of your suppliers, customers, friends and family who run their own businesses. You're welcome to share This Week@Work with them. Subscribe to receive This Week @ Work Pavlo Phitidis www.aurik.com

The DRG Outsourcing handbook and BusinessFit Leaders Guide. We look forward to sharing this with the business community.