Family businesses need to tell their story better. Here's why:

According to the Edelman Trust Barometer, “Family businesses consistently hold a strong trust advantage over businesses in general.” But trust is not a given for family businesses. Edelman reports that trust in family businesses has been eroded over the years. According to a recent survey, trust in family businesses has fallen by 6 percentage points, while trust in general business has increased. why? Edelman doesn't see family businesses working on building trust with their customers. “Almost 60% of companies do not communicate their purpose externally. 84% do not take public positions on important issues.”

As expectations for corporate citizenship have increased, so too has the business sector. However, it can be a double-edged sword. Companies that profess a commitment to inclusion, environmental protection, and other values ​​can be criticized for being “woke” or engaging in “greenwashing.”

How do family-owned businesses participate in this difficult but necessary conversation? The answer is surprisingly simple: stories. Stories help us share values ​​and influence situations. Helps inspire and recruit employees. These will help you connect with your clients and customers in a memorable and meaningful way. Stories speak louder than jargon, louder than accolades and labels.

1st Annual B Corp Family Business Visibility (Value, Impact, Story) Ranking

To understand how family-owned businesses communicate, we investigated the extent to which 30 family-owned B Corp businesses share their values, influence, and story. We chose B Corp companies because it is a certification process that proves to a third party that the family business selected for review is indeed a values-based business. Each business was rated on an 8-point visibility scale.

visibility scale

Andy Crestodina, co-founder and CMO of Orbit Media, a B Corp certified digital marketing agency, reviewed the VISibility rankings. “This is pretty cool…I think this is a really interesting way to value companies,” he said. Mr. Krestodina met all the criteria and was ranked Best in Class by only 4 companies, and Great Storyteller level (he scored at least 6 out of 8 criteria). He was not surprised to learn that only eight companies have reached .

“Storytelling is not central to many brands, so there are a lot of stories that are missing, and this is probably one of them,” Crestodina said. “Many brands, especially their digital presence, are not discussed in detail.” The majority of companies (18) meet less than 65% of the criteria and see opportunities to improve or begin to improve their storytelling. Shown.

How to share your values, impact, and story

Business leader and author Simon Sinek suggests that when communicating your brand, it's far more persuasive to start with the “why” before moving on to the “how” and “what.” Similarly, when companies seek to demonstrate their value, it is important to start with character. Most companies share their qualifications and abilities and do not reveal anything about who they are.

For example, your company is B Corp certified. Ingredients are organic and non-GMO. Your ice cream flavor won a blue ribbon at the state fair. These are your credentials. The actions you take to reduce your carbon footprint, the quality of your products and the integrity of your supply chain demonstrate your capabilities. Your character is shared through your story. Below is his example of one of the B Corp companies we researched.

Amy's Kitchen tells the intimate story of founders Rachel and Andy, sharing their values ​​and personalities. “In 1987, Rachel was pregnant with Amy and resting on her bed,” the Amy's Kitchen website says. “Andy searched for ready-made meals at local natural food stores. Unable to find anything organic or vegetarian to satisfy their taste buds, they decided to make their own.”

The story continues with family photos of the first kitchen and baby Amy. “Rachel and Andy's first dish was pot pie. They made it by hand and sold it locally, and Amy's Kitchen started out of their home. They thought they would stay a small company just making pot pies. But soon I was flooded with handwritten thank you letters.”

A family story of humble beginnings, growth through community support, becoming a leader in the organic movement, and using grandmother's recipes all demonstrate that food should not be manufactured, but prepared with love. It is tied to family values. And the ripple effect it had on them as a family and as a business.

Top 3 Reasons Why Family Businesses Can't Share Their Stories

1: Share your story internally only

B Corp companies have gone to great lengths to achieve B Corp certification, but 30% (8) of the companies surveyed didn't even mention it on their website. Some companies may think that B Corp certification is for internal communications. At companies like Orbit, B Corp is often used internally as a compass when teams struggle to find the right answers. “What does a B-corp do?” Krestodina recalled asking when his team needed to make a business decision, with no clear, right answer. B Corp certification helps guide decision-making and attract like-minded talent, Crestodina said.

2: They don't understand the power of their stories.

Family stories are so embedded in company culture that it can be difficult for some people to extrapolate and share them. When asked why it is so difficult for family businesses to intentionally share their stories, Thomasina Williams, founder of Sankofa Legacy Advisors, said that for many family businesses, stories are part of life, work, He said that it is the basis of communication between generations. They cannot see the story itself because they are living the story. They never stop to reflect on their stories. They understand their role in the community and their commitment to steward natural resources. They assume everyone already knows and understands their story and values.

3: Generational rift

There is also a gap between generations. Previous generations of family-run businesses have deliberately separated their personal and business lives. Robert Pasin, third-generation chief wagon officer for B Corp Certified Radio Flyer, knows this conflict firsthand. “My grandfather and father very much hated PR. They didn't want media coverage,” Pashin said. “So in 1997, when we were preparing for our 80th anniversary, I had a big fight with my dad.”

Pasin decided to hire a PR firm to tell the story of his grandfather's founding, who came to the United States from Italy in 1914, and the birth of the first iconic little red wagon. Although his father did not want their names published in the newspaper, Pashin went ahead with the plan. “I felt like the company was really suffering. I was looking for something that could rejuvenate it,” Pashin said. He decided to celebrate the founding history of his family, against the wishes of his father. Since that first celebration, he has run several campaigns to tell his family's story. “We've earned literally billions of media impressions by telling our story. I think the long-term power of brand building is incredible.”

Take-out

Family businesses often have values ​​unique to the founding generation, making them a force for good. B Lab brings this community together through a certification process that helps them reflect on how their business processes support their values.

However, with new social imperatives for companies to be corporate citizens, simply doing good is no longer enough. Companies need to share their values ​​and impact through their stories.

What story do you have to tell? Whether you're a family business or a B Corp, visibility rankings help you understand how well your business communicates its value, impact, and story. I understand.