Welcome back to The Private Equity Podcast, by Raw Selection! In this episode, Alex is joined by Robb Powell, an experienced Operating Partner and former CEO who has successfully built and sold two businesses. Robb discusses the deployment of technology and AI in private equity-backed companies, shares insights on driving cultural transformation, and explores the importance of enabling people for business success.

Breakdown:

[00:00] Robb discusses how private equity firms and portfolio companies can start using AI.

[00:12] Introduction to Robb Powell, an operating partner and former founder and CEO. The episode covers tech, AI, and culture.

[00:41] Robb shares his background and experience with acquisitions, board work, and leveraging technology for business growth.

[01:11] The importance of using technology to drive sales and agility in companies.

[02:06] Common mistake in private equity: focusing too much on finances post-acquisition, neglecting team assessments and aligning people with goals.

[03:33] Robb’s method for assessing management teams, using written responses to understand their thought process.

[05:00] Building a culture of success focused on enabling others and creating referral-worthy work.

[07:01] The importance of having a clear narrative about the value you're providing in any role.

[08:29] Robb’s thoughts on aligning people and driving change in organizations, including when it’s time to let people go.

[11:19] Overview of Robb’s technology and digital transformation work with various companies, particularly in sales and service industries.

[13:41] Robb shares how AI is being used to transform roles, including automating coding tasks in a tech company.

[14:34] Exploring where private equity firms and portfolio companies should start with AI and ChatGPT.

[15:59] Robb’s advice on using AI tools to help businesses innovate and work more efficiently.

[17:54] The future of AI: replacing tasks, not jobs, and making people smarter through automation.

[20:19] The potential of using existing tools to implement AI in businesses without needing large consulting firms.

[21:46] Robb’s current AI project with a high-end wine room business and the value AI adds to search functionality on websites.

[22:45] Robb’s influences and recommendations for books, podcasts, and thought leaders, including Acquired and Peter Diamandis’ work.

[26:04] How to connect with Robb Powell via LinkedIn.

You can connect with Robb on LinkedIn by visiting his profile here.

To be added to the book waitlist, you can email alex.offer@raw-selection.com

Thank you for tuning in!

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Optimising Technology Deployment in PE-Backed Companies with Robb Powell

The Private Equity Podcast, by Raw Selection