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Listen carefully and take your time to think things through. Don’t rush decisions, even if you trust the other party. Find someone you trust, explain the deal and talk it over with them. Ask for their critique of the benefits you see. In our family business, we always share deals with each other, discuss them and offer constructive feedback.
What was your first job?
Bookkeeper.
How much was your first pay cheque, and how did you spend it?
It was R5,000 — I put it in an investment account and bought what I needed.
What is the one thing you wish somebody had told you when you were starting out?
You can’t do everything on your own, even if you’re the best at it. To scale and grow, you must delegate. If growth is your goal, you need to consistently “fire” yourself from your current tasks. Having a strong team around you is essential for this.
If you could fix only one thing in South Africa, what would it be?
Foster a cultural shift towards greater environmental awareness and promote a strong recycling mindset.
What’s the worst investment mistake you’ve made?
Fifteen years ago, we purchased a PCB shredder, and we still have it. However, it didn’t perform as promised. We bought it with insufficient information. Though it worked for a short period, it kept getting blocked and stopped functioning. In hindsight, we should have tested it for a longer time.
What’s the best investment you’ve ever made? And how much of it was due to luck?
Licensing the facility more than 15 years ago has proved to be a worthwhile investment. The compliance has paid off, not through luck but through consistent effort and absorbing the costs.
What’s the best book you’ve read recently and why did you like it?
Your Next Five Moves by Patrick Bet-David offers practical business advice relevant to day-to-day decisions and long-term strategy. It emphasises the importance of thinking several steps ahead, rather than just reacting to the present. Bet-David highlights the abundance of “blue ocean” opportunities, but stresses that success relies on your ability to sell — if you’re not selling, you’re just working.
He encourages shaping your business around a clear purpose, rather than simply chasing money. Money, on its own, is not a sufficient goal because it has no limit. If money is your objective, set a specific target and define how you will achieve it, so you have measurable criteria for success, even if that means facing the possibility of failure. Many people avoid setting clear goals out of fear of failing, especially when those goals are self-imposed.
Bet-David also warns against wasting time on distractions, such as social media or spending time with friends who don’t challenge you to improve.
What is the hardest life lesson you’ve learnt?
Be cautious about who you trust in business. Strong relationships take time to develop. There can be a lot of smoke and mirrors, with some businesses presenting themselves as more than what they really are. On the other hand, you may also encounter humble, unassuming individuals who are exceptional to work with and can significantly help you grow your own company.
What is something you would go back and tell your younger self that would impress them?
The value of a trade skill is often greater than what can be learnt at a university. It’s important to diversify your practical, hands-on skills. A company experiences faster growth through knowledge sharing and networking than from information found in textbooks.
If you were President Cyril Ramaphosa, what would you change, or do, tomorrow?
The private sector is crucial for driving and enhancing the economy. Instead of burdening industries with excessive regulation and multiple taxes, we should support them. Taxation often feels like a black hole for businesses, as they rarely see a return on their contributions to the state.
If private industry were given incentives to invest in infrastructure improvements, it would be a more effective use of resources, allowing companies to contribute positively to communities beyond their immediate areas.
Imagine if businesses could use tax funds to invest in energy infrastructure, with the stipulation that a certain percentage, if not all, would belong to the state. In this scenario, the businesses responsible for financing these projects would ensure their implementation.
Support our award-winning journalism. The Premium package (digital only) is R30 for the first month and thereafter you pay R129 p/m now ad-free for all subscribers.
BACKSTORY: Giulio Airaga of Desco
The FM chats to Desco MD Giulio Airaga
Giulio Airaga, MD of Desco
What’s your top tip for doing a deal?
Listen carefully and take your time to think things through. Don’t rush decisions, even if you trust the other party. Find someone you trust, explain the deal and talk it over with them. Ask for their critique of the benefits you see. In our family business, we always share deals with each other, discuss them and offer constructive feedback.
What was your first job?
Bookkeeper.
How much was your first pay cheque, and how did you spend it?
It was R5,000 — I put it in an investment account and bought what I needed.
What is the one thing you wish somebody had told you when you were starting out?
You can’t do everything on your own, even if you’re the best at it. To scale and grow, you must delegate. If growth is your goal, you need to consistently “fire” yourself from your current tasks. Having a strong team around you is essential for this.
If you could fix only one thing in South Africa, what would it be?
Foster a cultural shift towards greater environmental awareness and promote a strong recycling mindset.
What’s the worst investment mistake you’ve made?
Fifteen years ago, we purchased a PCB shredder, and we still have it. However, it didn’t perform as promised. We bought it with insufficient information. Though it worked for a short period, it kept getting blocked and stopped functioning. In hindsight, we should have tested it for a longer time.
What’s the best investment you’ve ever made? And how much of it was due to luck?
Licensing the facility more than 15 years ago has proved to be a worthwhile investment. The compliance has paid off, not through luck but through consistent effort and absorbing the costs.
What’s the best book you’ve read recently and why did you like it?
Your Next Five Moves by Patrick Bet-David offers practical business advice relevant to day-to-day decisions and long-term strategy. It emphasises the importance of thinking several steps ahead, rather than just reacting to the present. Bet-David highlights the abundance of “blue ocean” opportunities, but stresses that success relies on your ability to sell — if you’re not selling, you’re just working.
He encourages shaping your business around a clear purpose, rather than simply chasing money. Money, on its own, is not a sufficient goal because it has no limit. If money is your objective, set a specific target and define how you will achieve it, so you have measurable criteria for success, even if that means facing the possibility of failure. Many people avoid setting clear goals out of fear of failing, especially when those goals are self-imposed.
Bet-David also warns against wasting time on distractions, such as social media or spending time with friends who don’t challenge you to improve.
What is the hardest life lesson you’ve learnt?
Be cautious about who you trust in business. Strong relationships take time to develop. There can be a lot of smoke and mirrors, with some businesses presenting themselves as more than what they really are. On the other hand, you may also encounter humble, unassuming individuals who are exceptional to work with and can significantly help you grow your own company.
What is something you would go back and tell your younger self that would impress them?
The value of a trade skill is often greater than what can be learnt at a university. It’s important to diversify your practical, hands-on skills. A company experiences faster growth through knowledge sharing and networking than from information found in textbooks.
If you were President Cyril Ramaphosa, what would you change, or do, tomorrow?
The private sector is crucial for driving and enhancing the economy. Instead of burdening industries with excessive regulation and multiple taxes, we should support them. Taxation often feels like a black hole for businesses, as they rarely see a return on their contributions to the state.
If private industry were given incentives to invest in infrastructure improvements, it would be a more effective use of resources, allowing companies to contribute positively to communities beyond their immediate areas.
Imagine if businesses could use tax funds to invest in energy infrastructure, with the stipulation that a certain percentage, if not all, would belong to the state. In this scenario, the businesses responsible for financing these projects would ensure their implementation.
Also read:
BACKSTORY: Jack Halfon of Atlas Finance
BACKSTORY: Jobin Joejoe of Sony Middle East and Africa
BACKSTORY: Earl Sampson of Spark Schools South Africa
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Published by Arena Holdings and distributed with the Financial Mail on the last Thursday of every month except December and January.