Case Studies

Mary – Write off of good will

Mary’s business strategy leveraged Mary’s personal profile to create long term business solutions to clients.

The personal profile had a limited focus in supporting the generation of leads.  The long term business solutions were built on Mary’s skills.  Mary’s Will appointed her brother Barry as her Executor and provided for calling of all assets to enable distribution to the nominated beneficiaries.

Two weeks passed between Mary’s death before Barry reached out to the lawyers.  In this time some clients became concerned about support for the business solutions and had engaged a competitor.  There were a number of technical problems wiht the solutions and clients started to move form “being understanding” to demanding action.  A further six weeks went by before Barry found someone withe requisite skills to take over.

Barry started reaching out to clients after 12 weeks with a plan for dealing with the current problems.  When clients asked for clarity on future support and the delivery of promised upgrades, it was week 16.  By this time most clients had migrated to a competitor’s platform. With the limited cashflow from the remaining clients, the business was no longer viable.  Barry was unable to keep the clients or find a buyer for the business.

The cashflow from the business supported a valuation of more than $1m. The estate incurred additional expenses and suffered a loss in value of more than $1m. The absence of a business continuity  strategy and a supporting digital strategy was compounded by having a executor who was not familiar with the business.

Arham – Unpleasant use of Social Media

Arham maintained a number of accounts across different platforms.  Before Arham died there had been a significant family issue leaving a number of siblings estranged.  After Arham died a member of his family gained access to one of his social accounts and posted material that created further unpleasantness. 

While some platforms allow access in limited situations, it is also possible for another person to hack the account.  

Having a digital strategy which enabled accounts to be controlled would have averted this and allow Arham to control what was posted on the social accounts.  This approach would also have enable the removal of sensitive material and possible the closure of accounts.