Really. Does that happen? Certainly.
Family businesses show a high propensity to continuously innovate. One family business expanded its trash business to capture the methane gas in their landfills. Energy is now nearly half the family’s business.
And some family businesses have helped shape the world we live in today. It was a family business bicycle shop, owned and operated by the Wright brothers, from which emerged the creative ingenuity for man’s first successful flight. It was the Tuthill family who developed the first bread slicer around the time of the depression which spawned another innovation aphorism: The best thing since sliced bread.
Family-led inventions build stronger family businesses that endure for multiple generations. In fact, when innovative ideas build a better family business we witness the world of customers, employees, and vendors beating a path to their door.
So which innovations in your family business have made you stronger?