Every leader stands to benefit from the opportunity to regularly review with outsiders what s/he seeks to do, what has been done to do it, what has happened and what has been learned so far, and what s/he plans to do next.
It is harder to set up, operate, and benefit from outside help than it may first appear. Click the featured image above for a slide presentation of lessons learned and best practices that, if followed, will lead to improved performance and growth thanks to help from Accountability Board Members and Subject Matter Experts.
This post is based on remarks IntelliVen CEO, Peter DiGiammarino made about what Private Equity Operations partners do for portfolio CEOs at a National Private Equity International Operating Partners Forum Panel Discussionin Sentry Center, New York City.
A view from the portfolio company CEO on:
Management autonomy and sponsor inclusion; striking the right balance.
Engaging with the General Partner over the life of the transaction.
Beyond getting deals done and setting up financing, there are three things an operations professional counts on from his/her private equity investor:
Governance– i.e., provide a consistent point of accountability to report on: what we said we would do, what we did, what happened, what we learned, and what we plan to do next; we count on you to ask good questions to push up our thinking and give us your best advice.