2019 U.S. Family Business Survey: Creating Stronger Foundations for the Future
Overview
The results of the U.S. Family Business Survey findings brought out the importance of being prepared to compete in a far more digital economy. Family businesses have built up trust among loyal employees and their ownership group. So how to turn values like loyalty and hard work into a multi-generational success story? There are four moves ahead to consider in order to build a lasting and profitable legacy: codifying your values and purpose into your strategy; ensuring the next generation is deeply involved; determining the skill sets needed for a more digital future; and professionalizing the board.