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 needsHaving a family therapist in order to avoid intergenerational conflictHow 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 businessesCompanies 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!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.