Achieving industry-leader status doesn’t happen overnight, but organizations improve their chance of success by following some of the time-honored practices of any family-owned business. Putting relationships first and being a champion for new partnerships will advance any growth trajectory. More importantly, this outlook helps ensure that the growth is sustainable for the long-term.
The appeal of reaching that large “enterprise” status certainly has its benefits. Large companies have a wider reach for their customer base, access to advanced technology, and more stable financial backing. However, without the right company culture, these “big business” advantages won’t hold for long. The value of any organization ultimately comes from its people.
Customer satisfaction is crucial for growth, and that’s one of the ways that family-owned businesses can outshine larger companies. So whenever a company’s roots are founded in being family-operated, it’s important to build on that culture. The core elements of respect, collaboration, and service must remain.
We need innovative companies to pursue new solutions across every sector. For that, organizations will often need to streamline certain processes and establish new relationships to continue evolving. In any instance, it’s helpful to remember that small-business beginnings can offer important insights for customer care and employee appreciation.
Gary Hentschel, CEO of WSI Technologies, expounds on these business values in his recent Inside Indiana Business byline. Read the full article here.