When Raymond Ackerman was fired from his job in 1966 he persuaded a group of friends to lend him the money to buy four small Pick n Pay stores.
Under his management the supermarket chain grew to 792 stores in eight countries, employing more than 60 000 people.
In a new book, A Sprat to Catch a Mackerel, the retired Pick n Pay chairman reveals the key principles of his business success and phenomenal career spanning more than 40 years.
In this extract from the first chapter of his book he offers advice to people wanting to take a new business direction. The first major step to take, he says, is to ask yourself, do you really want to change your life, and also to clearly and honestly identify the problem. It’s vitally important to clarify and distil what the real problem is.
‘‘Don’t confuse the problem with the cause,’’ he cautions.
‘‘Often people strike out in a new direction, eager to escape what they perceive to be a trapped existence but don’t deal with the actual root of the problem. They then find themselves in a new environment but feel the same desperation.’’
*Read the book extract and Raymond Ackerman’s advice in the 7 October 2010 issue of YOU.