CHAPTER 4
Inspire Your Teams
To Embrace a Life of Meaning and Service
“Stop wasting our time, Romney. There is precisely zero probability that Bain Consulting can avoid bankruptcy.”
That’s what the Goldman Sachs adviser told Mitt Romney thirty years ago during the negotiations Mitt was leading in an attempt to rescue our consulting firm, then teetering on the brink. In the years preceding the crisis, a group of lenders had financed a founder-led employee stock ownership plan based on a lofty valuation, enabling the founders to pull more than $100 million out of the firm. And now the bottom was falling out.
We heard this sobering news from Mitt during an emergency Saturday morning partner meeting in the boardroom at Bain & Company’s headquarters ...
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