Capital Club How Private Businesses Prepare for a Demographic Shift with Greg Romero
Joining us today is Greg Romero, a management consultant and the Founder & Principal of Romero Solutions Group. Greg helps small to mid-sized family businesses ($2-$50mm in revenue) with longer-term planning, specific strategic needs (e.g., profitability, business operating model redesign, growth, exit/transition preparation), and more tactical problem-solving.
Listen in!
Key Highlights:
[00:01 - 14:54] Private Businesses on Preparing for a Demographic Shift
- Greg discusses his work as a management consultant helping family businesses with their needs
- Having a family therapist in order to avoid intergenerational conflict
- How the shift in demographics created pressure on private businesses to sell
[14:55 - 31:55] Family Business Leaders Should Know Their Options
- Preparing for the transition of family businesses selling or exiting their businesses
- Companies must constantly evolve their mission and goals to keep up with their competitors
- Readiness for external pressures includes company history, values, governance, culture, and non-financial elements
[31:56 - 33:26] Closing Segment
Email Greg via greg@romerosolutionsgroup.com and check out his website https://www.romerosolutionsgroup.com/ for more information!
Key Quotes:
“The more open you are on the way things work, the more trust the employees will have for you.” - Greg Romero
“As that third party, you have a unique or a good opportunity really to provide a perspective that that family members hopefully will not perceive as bias.” - Greg Romero
Connect with Greg:
Website: https://www.romerosolutionsgroup.com/
Email: greg@romerosolutionsgroup.com
Connect with me on LinkedIn!
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