Family businesses have had a critical role in the growth of the United States. As important as that role has been over the decades, many family businesses miss out on utilizing an important tool that could help them to grow faster and connect them to the community they serve. Like many things that can help us the most, this tool is simple and has been right in front of our faces (and in our hearts and minds). We just never thought of using it or knew how to use it. That tool is our story.
As the honored keynote speaker at Baylor University’s Institute for Family Business’ Fall Forum this year, I helped connect the family business members in the audience to their story. While their family business story can be used for many purposes, perhaps the most beneficial is a part of their marketing plan. This is pointed out beautifully in an article by Arthur Levy (The RoArt Group, LLC), “Marketing Your Family Business Through Storytelling” http://www.leesburgchamber.com/marketing-your-family-business-through-storytelling/ . While Arthur makes many good points as to how a family business might benefit from telling their story, I believe the most important sentence in this article is, “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.”
As family business owners, if your story and core values are kept inside, you will miss out on valuable connections to future clients/customers and/or future employees. In addition, current clients/customers and/or employees will bond further to the association they already have with your business…just by knowing more about your story.
The lesson learned here is simple. To quote from the 2011 movie, Sarah’s Key, “When a story is told, it’s not forgotten. It becomes something else. The memory of who we were…and the hope of what we can become.” What is the hope of what you and your family business can become? Record your story to discover the answer.