By Arthur D. Levy, CPA, The RoArt Group
When is the last time you have been mesmerized by a good story? Was it a book you recently read? Did a colleague who shared their family business success story compel you? Regardless, stories can change our thought process. It can make you look at your family business culture entirely differently. We all have stories and family business stories can be compelling. They can help attract new business, build trust and can turn prospects into customers/clients.
Stories can be a powerful tool for your family business. A good family business story motivates the next generation, your employees, connects with your customers/clients, your suppliers and even the media. When using your story to communicate your brand, you create a strong personal connection among your listeners. It can change opinions, and remove judgments.
The story of the family business, from the founder to the current generation plays an important role in determining the success of the business. The family business can distinguish and promote it’s longevity through their story. They can share the folklore of the founder/s, learn why and how it started and verify the achievements, and failures. The more stories shared the more benefits derived.
Storytelling also plays a part when the family business is transitioning from one generation to the next making the assumptions, values and artifacts even more important in articulating the family business culture through their story. Learning the stories from the family business past can change the way the new generations will act when they take over and are faced with conflicts.
Most consumers prefer to buy from a family business that shares their story and their core values. They prefer to align themselves with like-minded people.
With the internet being such an important part of marketing and branding your business it is also important to publish your story as a central part of your website including all of your marketing materials. When you tie in your history and your values and share it, your family business is sure to be a success and continue from one generation to the next.
Arthur D. Levy, CPA & Rosann Levy, The RoArt Group, LLC, Family Business Strategists, create strategies for small & midsize family owned businesses that address both family and business issues, enabling business growth, increased profits and continuity from generation to generation. www.theroartgroup.com