Scaling a Family BusinessMenser is the owner of the Buchroeders, a third-generation retail jewelry business that’s based in Missouri and has operated since 1896. Menser purchased Buchroeders from his father in 2007 and immediately began changing aspects of this traditional business. Credit: Getty Royalty FreeAfter a careful review, Menser found colored gemstones and sapphire rings—both staples of traditional jewelry stores—were underperforming. While pivoting this business, Menser balanced self-belief with candid feedback from team members. So if you want to scale your business faster like Menser, double-down on whatever produces the most value and stop doing everything else.

Source: Forbes April 18, 2019 18:56 UTC