Arjun Kumar is the successful entrepreneur and CEO behind KAI Innovations, a healthcare information technology company based in Ontario.
KAI Innovations is an electronic medical record provider that focuses on helping smaller medical clinics update their services by converting their records from paper to digital ― and they’re only one of a handful of companies in the country who do so. After just three years in business, Arjun has experienced rapid growth and success — so much so that he was honoured with an AIR MILES®† For Business Small Business Achievement Award, sponsored by BMO in 2015.
BMO and Your Financial Life sat down with Arjun to pick his brain about what drives his business. Here’s what he had to say…
On taking a page from his idol
Arjun credits his grandparents for paving the foundation for his success, citing them as his business idols. He gets his entrepreneurial spirit from his grandparents, who built businesses from scratch with nothing to fall back on. Arjun feels they opened the door of opportunity for him to pursue his own business goals.
On feeling successful
Success means something different for everyone. Arjun initially associated success with things like paying himself a salary, or having a nice car or home — but there was just one problem. After achieving those goals, he still didn’t feel successful. Arjun realized that true success was rooted in his business and his ability to inspire his team and earn their trust.
How BMO supports his business
BMO plays a big role in supporting Arjun’s business. When he wants advice about growing his business, he turns to his BMO branch manager for guidance. Specifically, he cites the bank’s support in advising him on using capital properly, as well as aiding KAI Innovations in reinvesting and looking into options for expansion.
On finding motivation
Starting and building a business can be tough, and it requires a lot of dedication and motivation to keep going. Arjun is motivated by the possibilities that lie ahead for the future, and he admits that he’s driven to see just how far he can take his company.
On the future of his company
Being a business owner takes a ton of dedication and passion. It’s a nonstop job that keeps you focused on your work and dreaming of the future. Arjun admits to constantly thinking about the future of his company — in his car, the gym — you name it, it’s on his mind.
That kind of dedication and focus is what led to Arjun’s rapid success in the healthcare field. Through his work, he has taken the “small fish in a big pond” approach to serving smaller health clinics that typically aren’t serviced by larger scale organizations and has dominated the niche. As a small business owner, Arjun is bringing his vision to life, and BMO is proud to be there to help Arjun with his small business journey.
Want to learn more? Check out Arjun Kumar’s best advice and 5 business mistakes to avoid.
®†Trademarks of AIR MILES International Trading B.V. Used under license by LoyaltyOne Co., and Bank of Montreal.