Finally some data to help support why we are doing so well! Besides the amazing employees, great vendors and of course the customers we live for every day, there is another ingredient that is allowing us to set records at Rose City Label – FAMILY.
This article from Business Insider – click here to read the full article – lists 6 Reasons why Family Business tends to outperform other business structures. We certainly benefit from at least a few of these:
1. Higher Profitability – according to the data, on average, the Family controlled companies have higher profit margins than their non-family counterparts. Maybe because of the wisdom passed through the family, or maybe for other reasons. We really like this one.
2. Risk Taking in Well Known Areas – with a long family history – maybe many generations – the family members leading the business know what they are talking about. Many were actually raised in the business and they have a deep understanding of the proper place to invest and take risk.
3. Smart Capital Allocation – because by definition, the family business has the ultimate long term approach. People aren’t looking at next year or next quarter, they may be looking at their kid’s kids running the business in the future. For these reasons, they invest wisely and for the long term. Every dollar invested has to pass the test of generations before and after the current family leadership. The bar is high so the decisions are better.
If you want to work with a local family business for your labels, please call us today. We look forward to helping you.
*Image is credited to Business Insider – featured in the article linked above.