One thing I thought that was interesting today was how while researching about various consultants in specific industry there appeared to be a bunch of people with the same surname. Sure enough, they were all family related. They didn’t all work in the same company though. From the looks of it, the parents worked in an industry and the kids followed suit afterwards. But again, they al created their on separate businesses.
Imagine growing up in a family restaurant business where the kids don’t take over but rather they set up their own restaurant. When you look at it from a bystander point of view you might think they are the same company since they share the same last name. Usually in these cases name brand recognition would be worth a lot to attract customers which is partly a reason why people would buy a franchise. In this case though, it didn’t seem like the name similarity helped much as you only realize after the fact that there is indeed a connection.
So in that regards, I guess these people used the family experience more as the advantage in starting a business versus capitalizing on name recognition. I suppose the name isn’t global enough per se as if it was a billion dollar corporation.