It is fashionable (and easy) to target family run businesses as the source of a country’s problems. Whether it is the Economist’s view of a region or the complaints of a middle manager who “just couldn’t get a promotion in there”. I have studied family businesses as clients, as numbers and statistics. I have lived and breathed one for most of my life. And after enough years away from it now I can finally see the upside more clearly.
The term “family business” is completely useless. The realization came crashing down on me as I got more comfortable with “Hidden Champions” (Simon Kucher) . Even the Economist will take note. After admiring the mid sized companies that are driving Germany’s worldwide export leadership, it takes some getting used to. 66% of these dynamic world leaders are family run. Sure that is down 10% from what it was ten years ago. Which is my point. Not even a German family remains unchanged.
Not all families are the same. So family businesses will also be pretty different. Kucher identifies factors unique to these winners like the drive to be No1, heavy investment in R&D, hard competition with neighbors and closeness to customers. The fact that more people in these companies talk to customers has important implications for the use of social media too. Nepotism may be rife in the Mediterranean but is not a given.
Pdf summary of the presentation on Hidden Champions is here – FamilyBusinessPotentialInGreece. Read it and then try to picture a German family business like those described in it next to a Greek one…maybe after enough Germans have bought land and moved to sunny Greece a new type of GrecoGermanic mid sized company will conquer the world!

It has been called “The book on the crisis” and “A love letter to Greece”. The journalist Stella Bettermann has written a real “feel good” book. Even the longer stories leave a nice taste in your mouth as the author describes her childhood summers with parents and brother every year in Greece. The magic, the exotic and the violent collide in this unusual holiday she describes in “I drink ouzo, what do you drink? “. The result is a love letter to Greece, the Greek people, to the warmth of her grandmother and an impressive and unusual family that the reader will not quickly forget.
At this point an important warning: Do not read this book on an empty stomach, for the enjoyable and detailed description of the mountains of delicious food, prepared every night by the grandmother will have you reeling. Even Stella’s better ouzo warning will be forgotten by the next summer vacation in Greece: While you drink it, you don’t feel anything, but when you try to get up, your legs give in…






