What was changed
iBase-t, founded in California in 1986 by the Poonian family, makes software that aerospace and defense manufacturers use to manage complex production and quality processes. When founder Amrik Poonian died in 1998, his widow Ladeira was suddenly in charge of the business with little or no preparation.
The company went through growing pains and near-bankruptcy, and Ladeira kept it going by staying involved and pushing through. She asked one employee why he had not left when the future looked bleak, a sign of how hard she worked to hold the team together.
She steered it from pending disaster to profitability. Her son Naveen later became president and CEO, and under him the digital manufacturing solutions business expanded across France, Europe, the Middle East and Africa. iBase-t ranked No. 18 among the largest women-owned businesses in Orange County.
What it achieved
Kept the aerospace software firm alive through near-bankruptcy to profitability; it later ranked among the largest women-owned firms in Orange County.
Why it worked
The founder's sudden death left no successor ready.
As the family owner she had a reason to fight through the crisis.
Staying close to customers and staff rebuilt confidence.
The next generation's expansion secured the firm's future.
What can be applied
A family member without preparation can save a technical firm by staying hands-on and rebuilding customer confidence.
Aftermath
iBase-t became a leading local software firm supplying systems used for products including rockets and satellites, and the Poonian family expanded their work with community causes.
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