Having built the company and traversed a long journey so far in the industry, what are your thoughts on handing over the reins to the next gen? What are the challenges you are facing in that aspect?  

Well it has indeed being a long journey; the industry has changed from where we started.  Every day presents new opportunities and challenges, hence I look at the business as being still fresh where we cannot sit on our laurels earned over the years, as we have to beat the complacency which tends to creep in over time.

As a first-generation business entrepreneur and owner, it’s extremely difficult to hand over the reins to someone or to the next generation.  It’s like handing over your own baby you have nurtured and grown to someone else.   It’s very difficult to accept that the next generation will do justice to the company the same way you have handled the company.  But as with life, this is something which needs to be done.  Let me however tell you that the new generation has a fresh and new mindset and a different way of looking at things, which is different from what I may have and I am confident that handing over the reins is the right thing to do eventually. While our current people are very capable to run the business; we may also look at pooling in new talent if the situation arises.

As a company we are very structured and have people, teams, roles and all systems in place which run the company even when I am travelling or on vacation.  Regular tasks are handled without my interference. However the most immediate challenge I see while handling over reins is crucial decision making.  Some critical decisions are still influenced by me in the company.  This however will eventually get handed over with some hand holding and confidence building measures.

Where do you see the company in the next 5-10 years? Accordingly, what kind of team do you foresee steering the business ahead?

As a company we have digressed from where we started out in 1987. With times we changed, and it is this change which has enabled us successfully run this company and remain as leaders in the POSM Industry.  Many companies who started with us and who came along during the way have fallen along the way.  New companies crop up every single day and pose challenges to us in terms of innovation, materials, pricing, quality and so on.  We learn from every company and try to improve ourselves.   This is what I meant when I said earlier that everyday presents new opportunities and challenges.  And this is exactly what has kept us going over these years and this is what will keep us moving forward.  As the industry changed, we also changed.  The current market and economic scenario is tough, but we will sail through unscathed and grow as well.  

There will be a lot of changes happening in the industry in the next 5-10 years.  We are already foreseeing these changes and are already augmenting our systems, processes, production and so on to take on the industry demands.  As I mentioned earlier, our current people are very capable to run the business; we may also look at pooling in new talent if the situation arises in future. 

Read the full interview in the November 2019 edition of Point-of-Purchase magazine. Also do check out other industry players take on grooming the next generation of leaders for their business in the November Edition.