Why Family Businesses Need Better Storytelling
Family businesses hold a unique position of trust. But to maintain that trust, they must tell their stories. Discover the power of family business storytelling and how to use it effectively. #familybusiness #storytellingmatters #brandlegacy #entrepreneurship
Family Businesses Need To Tell Their Story Better. Here’s Why.
Family Businesses: Trusted, But Often Silent
The Edelman Trust Barometer highlights a surprising trend: trust in family businesses is eroding, even while public trust in business overall is rising. Why this decline? Edelman observes that many family businesses aren’t actively communicating their values, purpose, and unique stories.
In today’s landscape of corporate citizenship and social responsibility, silence is no longer an option. Yet, sharing your stances can be risky, with potential for backlash and accusations of “woke-washing.”
The Answer: Authentic Storytelling
Family businesses have incredible stories brimming with values, community impact, and legacy. It’s time to share them! Stories resonate far more powerfully than jargon or accolades. This is how you inspire employees, attract like-minded customers, and leave a lasting mark.
How To Share Your Values, Impact & Story
Author Simon Sinek emphasizes the importance of “why” – start with your character before explaining the how and what of your business.
- Credentials: B Corp certification, organic ingredients, etc.
- Competence: High-quality products, responsible supply chains, etc.
- Character: This is where stories shine!
Example: Amy’s Kitchen
Amy’s Kitchen weaves a heartwarming story. They share the tale of founders Rachel and Andy, a young couple searching for wholesome, vegetarian food while expecting their daughter Amy. This tale of humble beginnings and a relentless search for quality resonates deeply with their customer base.
Top 3 Reasons Family Businesses Fail To Share Stories
- Stories Stay Internal: Businesses may share these stories among staff, but not externally. (Ex: B-Corp certification not mentioned on websites).
- Underestimating Their Power: Stories are so ingrained in the company culture that their value isn’t recognized for wider audiences.
- Generational Divides: Older generations may prefer keeping business and private life separate, making it difficult to embrace public storytelling.
The Takeaway
Family businesses often embody strong positive values. Yet, simply doing good isn’t enough anymore – those values need to be shared. Stories are the key to building trust, attracting the right customers, and securing your legacy.
What stories do you have to tell?
