top of page

Owner-Operator in a Family Business - Are You in the Right Seat?

greghromero

As the founder or next-generation steward of your family business, are you in the right "seat" to lead your company today and prepare it for tomorrow? The role of an owner-operator often has blurred boundaries, and this is not a simple question.


Today, we illustrate certain key factors you should consider when thinking about your scope of responsibilities today and tomorrow.


Some key considerations include:

  • Your own:

    • Skill set, capabilities, and expertise

    • Time available for the business

    • Short and long-term goals for the business and your family

    • Roles and responsibilities that you enjoy

    • Runway to retirement

    • Personality type

  • Your business's:

    • Available cash flow to hire additional family or non-family operational management

    • Relative efficiency and self-sufficiency of day-to-day operations

    • Existing leadership and management capabilities beyond yourself

    • Relative competitive positioning

  • Your family's:

    • Capacity, willingness and availability to take on responsibilities within the company

  • The external landscape:

    • Recent or expected competitor moves

    • Evolving markets

    • Evolving technologies


Based on these factors and others, are you in the right seat? How might you adapt your role when thinking about today and tomorrow? Food for thought.


Ways to Follow our Blog:

(i) Directly via our company website - www.romerosolutionsgroup.com/blog.

(ii) Sign up for email receipt on our webpage (Note: sign up at top of blog page) - www.romerosolutionsgroup.com/blog.

(iii) Follow our LinkedIn company page - https://www.linkedin.com/company/romero-solutions-group.

(iv) Follow my personal LinkedIn page - https://www.linkedin.com/in/gregory-romero1/.


Welcome to our new family business blog, and thank you for joining us as we chronicle our journey!


Sincerely,


Greg Romero

Founder & Principal

Romero Solutions Group




Owner-operator of a family business considering the right roles and responsibilities to lead their company.



13 views0 comments

Recent Posts

See All

Comments


bottom of page