Introduction

If you’re like many mid-market managers I’ve spoken to over the past 18 months, fear and uncertainty about current market conditions are becoming daily experiences. It’s possible this fear may make you feel paralyzed – you know you need to take action to keep your business afloat, but understanding what kind of action to take requires clarity, and what we see is a lot of ambiguity. This book is designed to provide a blueprint for assessments that will help you get moving in the right direction. Keep in mind as you read that every business is different and the specifics of how you use the blueprint will vary depending on your type of company and specific situation.

In order to talk about the midmarket, it is first necessary to define the midmarket. Some commonly used definitions include companies with $50 million to $2 billion in annual revenue, 500 to 12,000 employees and market capitalizations between $500 million and $10 billion. In my experience however, a company’s situation is a much more accurate gauge of a company’s status as midmarket than a simple numerical segmentation. .What makes the midmarket a defined segment is that they face a common set of challenges as they seek to navigate a rapidly changing business world. For example, midmarket companies must compete with much larger companies with greater resources; they tend to occupy regional or industry niches; they have limited access to capital; and often lack economies of scale and scope. Most mid-market companies are privately held, often family businesses which tend to create unique problems and opportunities.

That said, if you’re reading this book, it’s likely because you’re trying to figure out what to do next. Each day, in between long hours spent running your company the way you know best, you’re bombarded with conflicting economic information. It’s in the morning paper and the evening news, online and on the car radio as you go about your day. Retail sales are improving – or maybe not. Home sales could be up – or down. Some sectors are affected less and others more. The stock market is up but you are not seeing sales go up. And, you get a lot of additional ‘help’ from well-meaning people who have strong opinions but may not understand the nuances of your business. Ambiguity and conflicting data make it difficult for you to figure out what to do.