The Private Equity Edge: How Private Equity Players and the World’s Top Companies Build Value and Wealth is a wake-up call for business leaders and their management teams, as we struggle through a period of economic crisis. The book gives decision makers highly productive ideas for building and preserving value and wealth. In today’s economic environment, the methods we discuss have broad applicability, far beyond the top private equity players who have used them so successfully.
In the foreword, Steve Moore, senior economics writer for the WSJ, provides a great description of why The Private Equity Edge is so relevant:
oIt takes a crisis to produce change.
oTop value builders dig a bit deeper than their competition and act sooner to change.
oThe framework used by successful private equity players preserves and builds value.
oValue Building drives our capitalistic free-market economy, and has raised the world’s standard of living.
oPeople need incentives to work hard and take risks.
oThe US is falling behind other countries because of our high corporate tax rates.
The Preface underscores why The Private Equity Edge is so relevant during this stressful economic period:
oCash flow is King. Preserving and building value takes action. The mode for many companies is “preserving value.”
oPrivate equity acts when public markets fail to be efficient.
oCorporate leaders can use the same framework and principles used by top private equity in good or bad times. The principles include:
?Markets allocate resources
?Common goals are critical
?Markets work but have bubbles
?Solid frameworks based on fundamentals are better than rules of thumb
-Timing and metrics matter
-Individuals have their own preferences and goals
-Regulations have unintended consequences
-Top value builders learn from mistakes and never bet the farm
Summary: Preserving Value and Reducing Risk
•Top value builders focus on intrinsic economic value.
•Leaders need to understand both the numbers and the people effect.
•People respond to incentives and disincentives.
•Conflicting goals, ideologies, theories, metrics and frameworks abound, creating a fog around any decision.
•Effective leaders dig deeper and use better frameworks and metrics to make better decisions.
•Effective leaders act sooner to communicate to their people and produce better results.
•Quantification of goals and risks, forces greater discipline of thought and action. It enhances communication for better decisions.
•Competition forces performance to regress to the mean.
•Even nations need to renew strategies in the face of global competition.
Book's Three Parts:
o Dig Deeper, to identify better value alternatives, risks and options.
o Act Sooner, to speed learning and achieve value-building change.
o Graphic examples of digging deeper, and sets the standard for value-building change.
William J. Hass (Speaker)
CEO, Teamwork Technologies, Inc.
William J. Hass, CTP is CEO of Teamwork Technologies, Inc., a value based consulting practice in Northbrook, IL. Bill specializes in strategy, dramatic performance improvement, turnarounds, board governance, effectiveness and communication for boards and senior management teams. He is a co-author of Building Value through Strategy, Risk Assessment and Renewal, (617pages CCH, 2006) and The Private Equity Edge: How Private Equity Players and the World’s Top Companies Create Value and Wealth, (McGraw-Hill, 2009).
Bill is a sought after speaker on value building. He consults and writes on a variety of issues and is the community leader for the Center for Financial Leadership (CCFL) serving over 30,000 CPAs in over 8 states. Bill is a Certified Turnaround Consultant and is a former chairman of the 8,000 member Turnaround Management Association. Bill has served on the Executive and Finance Committees of the University of Illinois, Alumni Association Board of Directors. Bill was a partner at Ernst & Young where he led the Midwest Strategy Practice. Bill received his MBA in finance from the University Chicago Booth School of Business(1971) and has an undergraduate degree in engineering with highest honors from the University of Illinois Chicago.
Sheperd G. Pryor IV (Speaker)
Managing Director, Board Resources, a Division of TeamWork Technologies, Inc.
Shepherd G. Pryor IV is a managing director of Board Resources, a Division of TeamWork Technologies, Inc. He focuses on board governance, finance, and director training. He serves on the board of Taylor Capital Group, a bank holding company (NASD), as a Chairman of the Corporate Governance Committee, Lead Director, and Member of the Audit Committee. In the past he has served on the boards of HCI Direct, a manufacturer and direct response retailer, Petrolane, Inc. (NASD), a propane distribution company, and Archibald Candy Corporation, a manufacturer and retailer. He is a co-author of Building Value through Strategy, Risk Assessment and Renewal, (617pages CCH, 2006) and The Private Equity Edge: How Private Equity Players and the World’s Top Companies Create Value and Wealth, (McGraw-Hill, 2009).
Shep is a member of the senior faculty at Keller Graduate School of Management, in Chicago, where he teaches finance courses, including M&A and international. In addition, he serves as an expert witness, consultant, and member of non-profit boards. He was formerly Deputy Group Head for Corporate Banking at Wells Fargo Bank. Shep received his MBA in finance from the University of Chicago Booth School of Business and his A.B. (cum laude) in Economics from Princeton University.
Hass and Pryor provide counsel for directors and management from the beginning of strategy formulation and strategy retreats through monitoring the outcomes of execution for both healthy and underperforming organizations. They are coauthors of Building Value through Strategy, Risk Assessment and Renewal(Chicago: CCH, 2006).
To learn more about their corporate and speaking services visit: www.topvaluebuilders.com