Earning Your Right to Win as a Business

The Nature of Ownership and Finding Your Place

Owning a business isn’t for everyone, and I see that as perfectly normal. Some people settle comfortably into their roles, enjoying camaraderie and day-to-day routines, without any longing for the added responsibility or stress of business ownership. That’s a legitimate choice—not everyone wants to juggle cost structures, pricing ratios, or back-office details. I’ve seen many light up with an idea in an entrepreneurship class, only to realize the journey from concept to company is complex. A good idea may not always translate to an enjoyable, sustainable business.

In family businesses, there’s often a mixture of classic entrepreneurs and pragmatic intrapreneurs. Entrepreneurs bring vision and a willingness to tackle risk head-on. They’re often founders who build from scratch, shaping company culture through perseverance and bold action. Intrapreneurs—common in the second or third generation—aren’t always driven to create something new, but they have the appetite and skill to innovate within what’s already built. Both types contribute, shaping the story of family business succession.

Differentiation, Reputation, and Making an Impression

On the latest episode of our Ownership Series, we explored "The Right to Win". Your right to win is about how your business stands out in ways that matter to customers and buyers. Maybe it’s your carefully built reputation or the experience you reliably provide. Maybe it’s the way you handle relationships or change expectations in your market. When people choose you for quality, special treatment, or just because you’re easier to remember, you’ve carved out positive differentiation.

Divergent thinking can help you stand apart. Blue Ocean Strategy is one tool among several—encouraging you to shift the playing field by redefining the customer experience, access, or value. For example, beverage companies moved away from just selling six-packs to exploring new packaging, channels, or price points. Similar stories show up all over. Think of a makeup brand (as an illustrative case, not tied to specifics) offering products in new locations or formats, responding to overlooked needs. Sometimes the most memorable businesses aren’t the biggest, but those most attuned to their customers’ stories. As Sean Case points out, a polite, pleasant business that’s otherwise forgettable will be passed over. Leaving a mark—by quality, service, or brand—encourages loyalty.

Laying the Groundwork for a Real Edge

Having a right to win depends on the building blocks beneath the surface. Solid, clearly mapped processes are invaluable; buyers and successors want to see that a business can run without relying on any single person. Documentation and clarity here reduce risk, and increase value.

Culture is another form of intellectual property. A unique environment where people want to work or do business becomes part of what your business offers. Supplier relationships, strategic partnerships, and even how you set up your internal systems contribute to what makes your operation “sticky”—hard for stakeholders to leave behind. The Keurig example says it best: once someone buys a machine, the setup brings them back for compatible pods, creating ongoing convenience and an ecosystem effect.

Niches matter as much as share. Holding a well-defended market slice, when coupled with strong processes or trusted relationships, can drive real value. Margins are a factor too. Tech or software companies often see margins in the twenty to thirty percent range, attracting higher multiples. In trades like HVAC or plumbing, where margins are generally tighter, the multiples tend to be lower. Each component—process, culture, niche, margin—contributes to a sturdy right to win.

Process improvement and culture shifts can happen quickly, but trust, recognition, and ecosystem loyalty are grown patiently over years.

Start Early, Reap the Rewards Later

A right to win emerges from steady focus, not overnight action. Shaping process, reputation, and distinctiveness early sets up a more resilient future—whether for succession or overall growth. The sooner you begin, the stronger your business will stand, ready for what comes next and whoever comes next.