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How Private Businesses Prepare for a Demographic Shift with Greg Romero
Episode 1157th September 2022 • The Capital Club • Brian Adams
00:00:00 00:33:25

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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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