Unique Value Proposition
A family business, and indeed any business, must continually innovate in order to survive and thrive.
Every business was started from scratch at some point by a person with an idea and some innovation. If that entrepreneurial spirit is not nurtured and maintained, like a burning flame, then the company will eventually fail.
Every dinosaur of today was yesteryear’s entrepreneurial story. The larger retailers that were steamrolled out of existence first by Walmart and then by Amazon were innovators in their heyday.
There is no rule that companies must survive. The ones that don’t, fail to maintain their entrepreneurial spirit. The majority of businesses that fail when passed on to the next generation fail because they did not maintain an entrepreneurial spirit.
We have researched and worked with 100s of business owners and entrepreneurs from around the world. Our unique value proposition is that we are experts in working with and understanding entrepreneurs.
We understand that the importance of all planning rests on the foundation of the entrepreneurial spirit. If not, the house of cards will fail.
The core of entrepreneurship is innovation. That is the nature of an entrepreneurial business. The transition from one generation to the next must be understood within an entrepreneurial context; at the core of the business and family is the need to maintain a sustainable and thriving business.
As a thought leader in the field of working with family business owners, we have written many blogs. View all ELO Counsel related blog posts >>