Family businesses have an intangible asset: they are perceived as being successful, providing superior service, having a strong culture and deep industry knowledge–-all of which can provide competitive advantages.

Why else do family enterprises make public the claim of being a family business?

These advantages though must be earned, decision-by-decision, action-by-action and generation-by-generation.

They are the result of choice and not of happenstance. They begin with conversations within the family about what it means to them to be a multi-generational family enterprise.