If you’ve made it to this stage, congratulations! You’ve surpassed the enormous hurdles of viability and sustainability. You’re nearing elite company status; approximately 99.6% of all US companies never make it here.
This is the time to lay the foundation for long-term sustainability. You might be able to remain a $50 to $100 million company for many years, but since you’ve made it this far, you’ve proven your ability to impact the market. The foundation is set for $100 million and more.
Now it’s all about execution: Develop and refine your processes, improve your executives’ skill sets, crystallize your foundation and your market penetration strategy, and use your numbers to improve your operational decisions.
Profile of a $50 to $100 Million Mid-Market Company
Characteristics
Struggles
Company is being run by professional outside management
Professionally marketing plan has been developed
Typically there’s an ESOP of stock purchase plan in place for key employees
Company is operating in large regional area or on a national or international level
Intense competition from both national and local players
Cash for growth
Technology changes and upgrades
Training for staff and management
Competitive strategy that may not be clear to market or to staff
Challenges from founder’s family regarding stock issues, selling, and employment
Retention of skilled leadership talent
Hiring and retention of top talent
Development of new products or services to stay competitive
Sales management
Creation of effective brand strategy
Pricing and commoditization
Mergers and acquisition strategy
Making business easier for customers to work with
High performing board of directors
Executive Development to Build Value in Mid-Market Companies
Develop a consistent and high-value company culture
Create operational distinction – be known for something
Strengthen customer retention
Re-engineer balance sheet – understand how to work with banks
Operate with a purpose
Increase focus on R&D
Hire professional marketing talent
Manage legacy issues – public relations becomes more vital
