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421 North Woodland Boulevard ǀ DeLand, Florida 32723 ǀ www.stetson.edu ǀ 386.822.7000
Family Enterprise Center 421 N. Woodland Blvd Unit 8398 DeLand, FL 32723 April 2, 2014
Valerie Duffy Manager, Global STEP Project Successful Transgenerational Entrepreneurial Practices Babson College 231 Forest St. Babson Park MA 02457
Dear Valerie,
In follow up to our discussion regarding Stetson’s formula for success regarding the STEP survey initiative, we gladly share our strategy and learning herein:
• Leverage your (and other people’s) networks. We found success in calling upon our established relationships and partnerships within the family business community. Ask everyone you know if they are a potential respondent (PR). If not, ask them if they could refer you to one.
o Examples of our leveraged network include: § Colleagues and contacts known from our work with industry related
organizations and activities § Leaders in family businesses with whom we have established relationships (e.g.
parents of students in our program; colleagues met at the bi-‐annual family business Transitions conference)
§ Past and current students in our program and across campus who are part of a family business
• Share the benefits of participation. Raise awareness by distributing (simple) one-‐page
information sheets wherever and to whomever you can – see attached. Also mention that PRs stand to gain important insights into their own family business by completing the survey.
• Don’t overwhelm. Too much information about STEP upfront can be a deterrent. The survey is
about understanding how multigenerational firms maintain an entrepreneurial mindset across generations – enough said. Go on to explain further only if they’re interested.
• Stress confidentiality. Ensure PRs that their responses and sensitive family information is
secured.
421 North Woodland Boulevard ǀ DeLand, Florida 32723 ǀ www.stetson.edu ǀ 386.822.7000
• Be hands on. Communicate directly with PRs (by email, preferably by phone) before they are officially invited. Explain the study, time commitments and note key screening details.
o We leveraged one student research assistant to function as a central point of contact for survey support from invitation through completion. The research assistant was vital in the administration of the survey as well as the next two strategy points.
• Remind, remind, remind. The number of official reminders available in the portal is insufficient. In most cases, we had to remind PRs by sending more than three (personalized) friendly reminders.
• Follow-‐up post completion. Ask participants about their thoughts and whether they would be
willing to refer other PRs. Use positive testimonials when recruiting other PRs.
We hope this information will be beneficial and wish great success to this project.
Sincerely,
Thomas V. Schwarz Dean, School of Business Administration