How to turn a family affair into a global business
When J.D. Power III launched J.D. Power and Associates in 1968, everyone in his family pitched in to make the marketing-information-services company a success. That included 5-year-old J.D. “Jamey” Power IV, who would fold and stuff surveys into envelopes to mail out to consumers.
“Those are things that little fingers can do very well,” joked Jamey Power while addressing a group of Vistage members at Los Angeles’ Sky Studio on Jan. 30. Power, the former executive vice president of international operations at J.D. Power and Associates, served as the guest speaker for Vistage’s Premier Family Business Network Event, which drew family business owners from across the Network.
During his candid talk, Power shared how his family launched, grew and eventually sold one of the world’s leading research firms, which has influenced the buying behavior of consumers for nearly 50 years. In addition to advising family business owners about how to build a sustainable company, Power talked about the legacy established by his father and the leadership challenges he’s faced while following in his footsteps.