Mitt Romney has the private sector experience I believe is needed in the White House right now. At the end of the day, despite past mistakes and misguided opinions, Mitt Romney has the leadership abilities, charisma, and experience needed to strongly lead the GOP in November and defeat Barack Obama.
Truman was a failure in the private sector and an above-average President. Hoover and Dubya had much experience in the private sector, and both were toward the bottom. Reagan had much experience in the private sector, but it wasn't as a businessman. Government can at best facilitate the private sector. Plenty of American politicians have 'adequate' conviction that pure plutocracy (which America's tycoons, executives, financiers, and big landowners want) is the right way to do things.
Government is not an effective profit-and-loss operation, and if anyone thinks otherwise, then just remember how well the old Soviet Union and its imitators fared. I doubt that any conservative wants the federal government to act more like a business by raising taxes.