The Power of Family Business Values and Culture in Navigating Economic Uncertainty

In todays’ volatile business landscape where economic shifts can impact everything, as we have just witnessed with the recent UK budget, one thing remains constant; your family business values and unique culture.

Right now, you might be one of those family businesses who are assessing their options:

• How should you deal with the recently announced tax changes?
• What does it mean for the future of your family business?
• Are you still in it for the long haul or are you wondering whether now would be a good time to sell?

I am leading the movement in family businesses unlocking the potential of their unique values and culture to drive sales and profit growth.

I focus on the areas that you can control and that you can leverage to provide you with a stronger, more profitable and growing business.

In my opinion, there has never been a more relevant time to focus on and invest in your strengths and your values and culture have the potential to be one of your greatest strengths.

Differentiation in a Competitive Market

Your values and culture are unique to your family business and are part of your company’s DNA.?Other companies may be able to copy your products and services but they can’t copy your culture. In an increasingly crowded market, your values and culture are what sets you apart. They communicate authenticity and reliability, giving customers a compelling reason to choose you over the competition.

Enhanced Customer Experience

Strong values and a positive culture help to enhance internal motivation and morale, which in turn affect productivity and the customer experience. When your people feel aligned to your family business values, they’re more engaged and committed, which translates into better service innovation and a culture that your customers can feel and appreciate.

More Profitable Customer Partnerships

When your customers see values they believe in reflected in your business, they feel a deeper sense of trust and loyalty - a factor that no competitor can replicate. This allows you to enter into closer and deeper customer relationships based on the value that you bring to their business via your unique values and culture.? This in turn can not only lead to increased sales but more importantly to increased profitability.

Now is the time to ask yourself:

• Do we have clear and relevant values?
• Are our values being ‘lived’ every day in our culture?
• Do all of our people behave in line with our values and culture?
• How do our customers experience our values and culture?
• How could we be leveraging our values and culture more to differentiate ourselves in the eyes of our customers?
• How could our unique Values and Culture be bringing us increased revenue and profit?

A case in point:

One of the family businesses I am working with asked themselves just those questions and as a direct result of the work we are doing together in this area has unlocked the opportunity to double their business with one of their most important customers. This opportunity would not have existed if we hadn't done the work on leveraging their values and culture.

Could that be you?

Building a Business Legacy; Why Culture Matters to Potential Buyers

If the recent new proposed tax changes are making you seriously consider whether the sale of the business would be the best option, then the strength of your values and culture will be a key focus area for any potential purchaser. Having a clear set of values which are directly linked to a strong and positive culture which is used as a key differentiator both internally to attract the right talent and externally to drive new sales and profit opportunities can put ￡millions on the value of a business. Now more than ever, don’t leave one of our most powerful drivers for sales and profit growth untapped.

Don't miss out on this opportunity to discover how to turn your values into tangible growth drivers. Join me on Wednesday, 20th November, at 1pm UK time for Turning Values into Profit: Doubling Customer Revenue in 2025. This free, 45-minute online masterclass will show you the steps to leverage your family business’s unique strengths to fuel revenue growth.

Register for the Masterclass here: https://subscribepage.io/NovBMCMasterclass

I look forward to seeing you there!

About Bev Mitchell:

Bev is an expert in Values, Culture and Coaching and Mentoring leaders. She has over 30 years’ experience working with UK and global family businesses and corporate organisations. Described by her clients as a “superb practitioner”, “fantastic thought partner” and a “super connector”, she provides pragmatic and actionable solutions that have an immediate impact on a family business’s ability to leverage two of its most valuable assets - its Values and its Culture.