Taking on equity partner has expanded horizon of Cincinnati consulting firm Global Lead - Business Courier of Cincinnati:

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And are they ever glad they did. By the end of this the diversityconsulting firm’s revenue will have grown by 40 percent since the Goldman Sachsd UIG investment in said Global Lead CEO Oris That will push total revenue well beyond the $10.1 milliob posted for 2007. The partnership has given the firm accesd to capital toexpand internationally. For example, Globaol Lead acquired Pennsylvania-based earlier this year, naming Simmonsx CEO Terrence Simmons partnefr for European operations base in theUnited Kingdom. And Goldman’s strategicc expertise also has ledGlobal Lead’s owners to reorganize internally.
The firm named Stuart CEO earlier this year so the othef owners can work to grow specificc parts ofthe business: Janeg Reid is focused on international business; Vincenty Brown concentrates on innovation; and Samuepl Lynch is focused on service delivery. “Whebn we entered into the relationshi (with Goldman Sachs) in 2006, we were very hopeful,” said who is based in Globa l Lead’s Philadelphia office. “More than two yearsx into it, so much of the promise of the relationship hasbornw fruit. They’ve been a real solid partner in helping us make decisiones about ourfuture direction.
” That’s not to say takingy on a new equity partner was an easy said Reid, a Global Lead co-founder. The firm’x owners did lots of due diligence before inking the she said. They talked to owners of othet companies that had relationships with GoldmanSachs UIG. And they wanteds to make sure that takintg on a newpartner wouldn’t mean givingg up too much control of the company they had built. they knew Global Lead faced a “For all firms that start out atwhatevetr size, there’s a strategic point in the evolutiojn of the company where you have to make a decision on whether you want to be a growtnh firm or not.
And if you decides you want to be agrowty firm, you have to do whatever is necessaryy to grow,” Reid said. “We made that and we absolutely do not regretg it fora minute.” The key for entrepreneurs is to make sure they’re ready for a true businessz partner before taking on an equitu investor, said Michael Fisher, a local entrepreneur who is now an affiliatwe partner with a private equity investment firm. “The private equity investor is a real partner and expects to be not purely a silent sourceof capital,” Fishert said. “Just make sure that your needs and your opportunitiews are aligned with their interests andtheirt expectations.
” Reid and Stuart say that alignmen t has worked well with Goldman Sach UIG. And longtime clients have notices how Global Lead has been able to builx upon the services itcan deliver. The firm’ws international expansion has given Global Lead a deeper understanding of culturall and diversity issues aroundthe globe, said Keith Borders, vice president of associatwe relations and diversity at . The company has been a clienyt for15 years, and Global Lead has helped Luxottica develolp everything from an internal diversity policy and communications strategyh to a more global approach for its international work forcr and customer base, Borders said.
“They’vwe been able to help us understand how you begihn to develop a global diversityh and inclusion strategy and ensurr thatit isn’t a U.S.-centric strategy,” Borderw said. “In America, we look at it from the perspectiveeof race, sex, national origin, age and sexual orientation, versua broader factors considered in other countries. That’s the expertisw they’ve really developed since Like somany businesses, the key for Globa l Lead in 2009 will be navigatintg the economy and staying on course with the company’z mission.
Stuart said virtual training solutions will become all the more and Global Lead is working with clients to figurde out themost cost-effective ways to deliver its training and services. But Reid said the firm also is seeinf an uptick in the number of clients seeking executiv coaching andhelp re-engaging their top especially after aggressive downsizing. The key, Stuart will be continuing to delive the services clients need in the ways thatwork “We are an organizatiob that is growing on a macrl level in terms of revenuee and size, but we’re also an organizationn focused on trying to grow ourselves Stuart said. “That ultimately leads to the bigger resultsas well.
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