Family Owned Business

Growth Strategy Video Blogs for Family Owned Businesses:

Growth Strategy Articles for Family Owned Businesses:

Better Customer Service Can Bring Black Ink
One way to grow your business is through improved customer service. If your business is already customer-centered, this may be easier said than done. In fact, I have met skeptics who doubt any significant growth can be achieved by focusing on improved customer service. For these naysayers, I share this true story from a client

From Marpac to Sykor
If you have visited Don and Sue Sykes’ Waldwick, New Jersey, office in the past few months, you probably noticed the changes. “SYKOR” signs are now displayed where “MARPAC INDUSTRIES” signs have long adorned the walls. The Sykes sold their beloved Marpac and have moved onto new projects.

Former NJAWBO President, Aldonna Ambler, recently interviewed former Bergen Chapter President, Suzanne Sykes, about her life as the CEO of Marpac Industries. Her story illustrates the fact that owners of even the best companies face tough choices as their businesses mature.

Feelings Can Be Hurt In Company Successions
By the very way the word is spelled, it implies success. It must be relevant only to those who are successful, right? So, why do so many business owners feel as if they have failed when they face decisions related to succession?

It could be a very happy time. He or she has built a company; now it is time to enjoy the fruits of one’s labor. No one deserves time off more than the owner who built the business.

Yet, somehow letting go feels like giving in, failing, losing.

Expanding the Options for the Family Owned Businesses
It’s great that so many family businesses emphasize customer service, interpersonal relationships, and hard work, but “being nice” and “working harder” are only two of the dozens of growth strategies available to today’s entrepreneur. The bad news is that these nice, hard working people are often losing ground. While competitors are growing exponentially through acquisitions, joint ventures, strategic alliances, roll ups, initial public offering and franchising, the leaders of many family-owned businesses continue to conclude that they can only grow organically and incrementally.

Branch Out and Grow
If you start small, like the mighty oak, the acorn will reap rewards. Aldonna Ambler, whose name is synonymous with successful growth strategies, describes the best way for family firms to avoid the pitfalls and succeed when it comes to expansion.


Lessons to Learn From Seasonal Business
The economy has cycles just like the seasons; some years are like a long recessionary winter season. So I wondered whether we could all learn something from people who face climactic changes all of the time. Could we apply the four approaches seasonal businesses use to cope with the weather to better handle the economic seasons?

The first way seasonal businesses deal with their challenge is to admit they are dependent on one key season. Some ski lodges, ice cream stores, fruit stands, and Christmas decoration shops succeed by going all out during their season. Then the owners spread the proceeds and cash flow over the dormant seasons. To succeed, they must excel at inventory management and reading market trends so they know exactly what will sell during the next season.

The Legacy: Family Businesses Struggle with Succession
The Turners of Manasquan, NJ, consider it a privilege to operate their family-owned bakery business.

“This business is more than doughnuts; it’s us,” says Jim Turner. “We all share in the awards that my father has won over the years.”

The Schundlers of Edison, NJ, have had the family business in their blood for generations. Their grandfather, H.C. Schundler, founded their construction material business and their great uncle, F.E. Schundler, founded an aspect of the entire industry. F.E. then set up his nephew, Otto Schundler, in the business in 1951.

Growth Strategy Tip

Testimonials

Aldonna has been a very valuable business confidant, advisor, motivator and mentor. It is very obvious to our management team that she has a keen insight into and genuine interest in our business and our success.

Mary Casey
Former CEO, HealthBridge, Inc.

Schedule a FREE initial consultation with Aldonna to find out how she can help you work through your challenges and take your business to the next level. Click Here