The Key To Family Business Success
Understanding Family Business brings you articles and tips from Family Business Experts who understand family values and business systems.
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Understanding Family Business
February 7, 2008 Issue #081
Family Business... Business Family
Family Wealth Management...
Teaching the Next Generation
Family wealth management is critically important - family-owned businesses are the economic engines that drive America’s and many other nation's prosperity. Many generational family businesses are “rags to riches” stories – the success stories of which dreams are made.
It is estimated by family wealth management experts that $41 trillion of private wealth will be transferred from one generation to another over the next 40 years. Yet, a survey of families of significant wealth done by a wealth management company in Pittsburgh found that only 27% of the respondents have discussed family budgets with their teenage children.
Click here to read more about the challenge of Family Wealth Management.
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- Your website design should be relevant to its subject and look professional - it's the first impression that visitors get. But that doesn't mean it has to be done by expensive consultants. And templates can be very effective.
- It's words that sell, not graphics. Words that sell are critical to your site's success so the site must be part of your marketing plan. < /li>
- OVER Deliver content that is relevant, timely, and exclusive. Consider a forum for your website, and respond quickly to requests for help. "Give before your get."
- Build a sense of community by encouraging visitors to comment on website material. Involvement.
- Respond to constructive criticism if you get it.
- An alternative that we use is our ASK THE EXPERT form. We try to respond to each inquiry within 48 hours, and usually do so the same day.
- Offer entry-level or low-cost options or trials. We provide our ASK THE EXPERT sevice at NO COST... our srvice is consulting, so it's necessary for potential clients to be able to "get a feel" for our service before they start into a major engagement with us.
- Use Alexa to see how your site ranks compared with millions of other sites - it's a measure of the trust you are building.
For more information on any of these topics, check out the SBI Action Guide.
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That's it for this issue. If you have any comments, or if there are any topics you'd like to see covered, please let us know.
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