Arjun and his wife Anika bought their business from Arjun’s parents 15 years ago, while raising two girls and a boy. Their son works in the business in sales, the oldest daughter is pursuing her own professional career outside the business, and the younger daughter is at university but plans to return to the business in a management role.
Due to Arjun’s recent health scare with cancer, he and Anika decided they wanted to accelerate their plans and pass on the business to their kids within the next three years so they could focus on a healthier lifestyle. They were conscious of the inevitable imbalances and emotions the transition would create within the family (given only two kids involved, and at different levels of influence). They were also conscious of the dismal success rate of businesses being passed to the next generation (30%). They wanted to do all they could to ensure the business was positioned well to support their kids and their retirement. They knew that their kids’ livelihood, the livelihood of their employees, and their own retirement would be at risk if the transition was not successfully executed.
Arjun and Anika’s Solution: The ‘Success Dashboard Execution Platform©; an online strategy and business execution platform designed to help businesses prioritize and create disciplined action to position the business and family for efficient transition, continued success and growth.