What all Entrepreneurs can Learn from Family Businesses
The pandemic challenged nearly every type of business – from large corporations to solo entrepreneurs. COVID forced wholesalers, retailers, makers, service businesses to react to a raft of never-before seen conditions.
Some thrived, others perished but anecdotally we know that family businesses, which are typically built for long-term prosperity, had a good supply of tested tactics in their toolboxes to sustain COVID. That’s not to say that some family businesses, particularly restaurants and hospitality providers, were not impacted but multi-generational enterprises often benefit from the wisdom and experience of those who’ve weathered difficult periods not just over several years but during the several decades.