Remember an old adage in personal selling: the harder they are to get, the harder they are to lose. A family-owned business will supply you with loyal business for many years if you understand their real needs, their values and you earn their trust. The wealth they possess is significant, they are challenging, but worth the effort.
Keanon Alderson, Ph.D., is a professor of management at California Baptist University and a family business advisor. He is the author of two books, Understanding the Family Business (2018) and Family Business Governance (2019). He can be reached at [email protected].