Family-owned businesses can struggle when leadership passes to the next generation. Natalie's Orchid Island Juice Company wants to buck that trend.
. The next generation may not be interested or prepared enough to take on the responsibility, or see value in cashing out by selling the company."It's truly a fascinating concept to try and maintain a family business as you change generations," Natalie tells CNBC Make It. "It's definitely something that's complex, but there's tremendous opportunity with it as well.
Natalie ultimately found ways to incorporate digital marketing into the company's grassroots approach, helping grow its annual sales by nearly $100 million since 2011, she says. And while Marygrace is still adapting to the idea of having such an online presence, she says she trusts her daughter's gut.
To the contrary, Natalie says she's received a "more holistic" business education because the smaller scale of the company allows her to work in every department. On top of her full-time marketing role, she is an acting sales executive and regularly helps with financial management, production and product development.
Those same family spats can also be a hidden advantage, Natalie says. Disagreement, when conveyed correctly, boosts productivity,— and the Sextons' familiarity with each other helps them communicate directly, rather than mincing words in the interest of corporate etiquette.
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