6 minute read
What key factors contribute to long-term success and sustainability in family-owned businesses?
We asked ten family businesses to answer the following question:
What key factors contribute to long-term success and sustainability in family-owned businesses?
COASTAL LAWN SOLUTIONS
Long-term success and sustainability in family-owned businesses are built on a few important factors. Strong, open communication helps keep everyone on the same page and addresses any challenges early on. A clear business plan that can adapt to changing needs ensures the company stays competitive. Careful financial management and planning, including preparing for future generations, is also key. Building lasting relationships with customers and the community fosters trust and loyalty. Finally, balancing personal and business life helps keep the family bond strong while supporting the growth of the business.
BRIGHTAIRE PROPERTY SERVICES
As a family-owned business, we’ve learned that long-term success comes down to a few key things.
Consistency—it builds trust with our customers and team.
Teamwork—we lean on each other’s strengths to get the job done. Respect—it’s tremendous for maintaining harmony, especially regarding decision-making.
Good communication— it prevents misunderstandings and helps us grow together.
Setting clear goals—it keeps us moving in the right direction.
But above all, we always put family first. That’s the real foundation that keeps us strong and thriving.
www.brightairepropertyservices.com.au
CLICK ACCESS
Family businesses have an advantage because the stakes are more personal. You’re not just building a business; you’re creating something that benefits both the family and the future.
Success comes from keeping communication open, adapting when things change, and supporting each other as business partners and family members. It’s about staying committed to shared goals, understanding each other’s strengths, and having the flexibility to grow together. That combination of trust and purpose helps create a solid foundation for sustainable, long-term success.
COOEE WATER
When starting Cooee Water, we had to have a strong belief in what we were doing, belief in each other, and belief in ourselves. This removes the questions of doubt in the early days, so you can keep going forward and stay motivated when building from ground zero.
Being true to yourself and respecting each other allows you to get on with your individual jobs. It has been vital for Cooee Water to use our different strengths, skills, and personalities to identify specific roles. Most importantly, communication and love are important because when you get annoyed, remember you can’t sack each other!
EAST COAST FREIGHT DISTRIBUTION
We’re always learning from our experiences and what’s happening around us, helping us grow both in business and personally.
Our customers and team are like family—we listen to what they need and do everything we can to support them, building strong, lasting relationships along the way. While we focus on the present, we’re always thinking ahead, making sure our business remains sustainable for the future. Our goal is to create something meaningful and lasting that we can proudly pass on to future generations while making a positive impact today.
RAMTECH
Long-term success in family-owned businesses hinges on clearly defined roles that align with each person’s strengths, ensuring that not everyone is responsible for everything. Trust your spouse’s decisions within their role, as backseat driving creates unnecessary tension. Seek help when needed—no one has all the answers. Keep work issues at work to maintain balance, and always remember that the business is not the family. While there may be overlap, family must come first, as it's far harder to rebuild a family than a business. A strong family foundation supports long-term business success.
LAUXEN CLEANING SOLUTIONS
At Lauxen Cleaning Solutions, our secret to success really boils down to respect and growing together as a family. We make it a point to communicate openly, value everyone’s role, and support each other’s growth.
This isn’t just business; it’s about building a family legacy that values hard work and unity. Keeping these principles at the heart of what we do has allowed us to thrive and stay together through ups and downs.
THE INKSPOT PRINTERS
After 40 years on the Sunshine Coast, we know our best assets are our long-term clients and employees. Our success and sustainability come down to ensuring great relationships with both.
We believe it’s imperative to constantly work on these relationships to ensure we understand exactly what our clients and team want and need. This makes them feel appreciated and respected and creates a loyalty we are proud of. Some of our clients have been with us from the beginning, and some team members have celebrated more than 25 years with us!
RAPID RESPONSE FIRST AID // iCARE TRAINING
Building a successful family business with someone who means the world to you is truly special. Communication flows naturally, based on deep understanding, respect, loyalty, and trust.
Though Nick and I have different passions and goals, we complement each other and grow stronger every day. We share a common goal of treating customers like family and making them part of our success. We don’t always need words—we just know.
We are a unique business with the dream to be extra special and look after families on the Coast, empowering others with life-saving knowledge and creating a supportive community for all.
XSPOR AUSTRALIA
Long-term success and sustainability in family-owned businesses rely on recognising and respecting each family member's core skills and contributions.
Open communication is crucial, addressing conflicts immediately.
A clear business plan, including one-year, five-year, and long-term goals, helps guide growth.
Knowing your market, demographic, and financial needs, including profit margins and necessary funds, is essential.
Equally important is having a clear end goal, whether selling or passing on a legacy. Finally, swift action is vital if issues arise—preventing small deficits from growing can significantly affect long-term sustainability.
