To stay apprised of the specific needs and challenges of family businesses, we again commissioned the expert assistance of market research firm MacKenzie Corporation, a second-generation family business in Orange County, California, to conduct our 2024 Family Business Survey. Read more about three optimistic findings from this year's results.
The article, “Here’s Why Family Businesses Need Branding,” written by Kimberly Eddleston, Schulze Distinguished Professor of Entrepreneurship, D'Amore-McKim School of Business Northeastern University, and originally published on FamilyBusiness.org, shares that the brand of a family business is more than a logo and marketing elements, but instead it’s the organization’s reputation.
To brand or not to brand; it’s a very good question. No, we’re not discussing a soliloquy from Shakespeare, but an important decision that family businesses must make when strategizing for the future. Being the economic powerhouse they are, it makes good financial sense that family businesses wouldn’t leave something as critical as their business branding to chance.
Have you heard the saying, “If you’re not on social media, you should be!” before? Social media platforms are a great way to connect with others. LinkedIn® is a great tool for businesses and is used by millions of professionals and companies.
Although producing a high-quality product or service that consumers want or need is essential to a successful, sustainable family business model, there’s yet another component that shouldn’t be overlooked: building authentic client relationships.
In order to thrive in this highly-competitive environment, new and existing business owners need to find ways to be creative, authentic, and engaging.