Raizcorp CEO Allon Raiz helps develop entrepreneurs and businesses but shies away from an extravagant lifestyle and has a simple investment philosophy.
1.Your most regrettable financial blunder since becoming an entrepreneur?
One of our divisions, Partner Elite, does venture capital. We invested in a business based on personality and a relationship. Due to this, we did not do the due diligence we should have, and ended up paying the price. A big lesson indeed!
2.To what do you attribute success?
I do not believe I am successful. I believe I am in the process of succeeding, because I am obsessed with what I do, and have managed to congregate a bunch of equally passionate and obsessed people on this journey to serve entrepreneurs. I have, as a result, a very strong work ethic. I am extremely competitive, and drive people mad until I achieve the various milestones of the picture in my mind.
3.How do you define financial discipline?
I am lucky because I certainly don’t lead a flashy lifestyle. I do not have a flashy car; in fact, it is nine years old. I also don’t own a flashy watch, I do not wear flashy clothes, and I often wear jeans and my Raizcorp regalia. I do not eat out at flashy restaurants all the time. So my personal finances are rather simple. I focus on pumping all excess cash into bonds. Financial discipline, for me, is keeping overheads low, overpaying on your bond repayments, and saving. I do not invest in the stock market.
4.How have you diversified your investments?
Personally, I am not well-diversified. I have really two asset classes which are my Raizcorp shares and property. My life is in the business and most of my wealth and meaning come from it.
However, the company is well-diversified. It has six divisions and each one contributes to the bottomline.
5.Which is your favorite travel destination and why?
I travel so much for work that I actually loathe travel. I spent my December holiday in my garden reading, braai-ing, entertaining and swimming. But if I were to have to choose, it’s anywhere with a beach I can swim in.
6.If there was one financial or business goal you must accomplish before you retire, what would that be?
I do not plan on retiring! Well, perhaps at 90 to get my things in order before I die at 93. Seriously, I do not have the concept of retirement in my head.
My business goal is to serve 100,000 entrepreneurs at a single point in time through our various divisions. Entrepreneurial development is my life mission and my love and my passion. As long as I’m doing it, I’m at my goal point.
7.What was the last item you regretted purchasing?
It has to be my tablet. I thought I would use it but I am a person who prefers to write in a notebook and create boxes that I can tick. I think I used it for two weeks and have never used it again.