Oracle NetSuite’s VP of Field Engagement and Marketing, Ranga Bodla, joins this episode to discuss family businesses and their impact on the American economy. He first explains what differentiates a family business from other businesses (7:28), how that has transformed over the years (10:45), and the surprising statistics—including double-digit growth—surrounding family-owned businesses as compared to non-family businesses (14:40). Bodla then dives into the three key factors setting family businesses apart (15:55) and how technology is enabling growth as well as multi-generation sustainability (21:39). From that, he discusses how Oracle NetSuite partners with family-owned companies to enable success (24:47), explaining the impact NetSuite has on these companies (28:09) and providing real stories from real businesses (36:12). Finally, Bodla concludes with the biggest areas on which family-run businesses need to focus over the next five to ten years, and how NetSuite will continue to help (40:20). Tune in for all of this and more!
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