Thursday, 19 December 2013

Leveraging A Family Business: Top Tips For Leveraging Family Business Brands

Leveraging a family business is highly essential to give you upper hands in the face of competing related business brands. In a time where competition is intense,some businesses are battling with the difficulty of creating a clear perception about who they are and the benefits they offer clients and so I have come up with a few tips to help you leverage your family business brands:

1. Celebrate your family business 

Since you own a family business, talk to people about it, make it known and celebrate it.  This is an excellent way of leveraging a family business.

2. Tell your story

If you don’t have a history page on your website, create one and don’t make it just a list of dates and facts –people love a personal stories.

3. Describe what makes you exceptional

Another tip for leveraging a family business is to consider what it is about your family business that gives your business something extra and special and communicate it to your clients.

4. Express your values

Whereas many businesses express their corporate values, family businesses have the unique chance to tell the world what makes the families that own them tick.

5. Acquire Feedbacks

Family businesses occasionally have an introvert quality but leveraging a family business,marketing and branding is about how others see you, not how you see yourself.

6. Use family members

Several successful family businesses in the world use their family members as brand ambassadors both inside the business and outside.

7. Beware of uneasy youths

Reputation takes years to create and a moment to destroy. In the case of family businesses, any young person bearing the name of the family needs to be cautious of dishonoring the family name. For leveraging a family business and to avoid this, you’ll need a strategy to create responsible future shareholders.

8. Remember your Family Office

Your family office can also take advantage of your family clienteles from a branding viewpoint. By articulating the investment values of your family and communicating these to associates and colleagues, a family office can certainly convey something similar to big financial institutions.

9. Aim for Talents

Inspire talented people to work with you. If part of your family business’ difficulty is the way it deals with its staff, make sure you aim for someone with that talent to handle it,which will reflect in your branding.

10. Refresh and Re-examine

As a final point about leveraging a family business, it is essential for you to re-examine your brand often since your business transits between generations. It is vital to keep hold of what has brought accomplishment in the past but it is also good to know that the next generation is the key to future success.

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