New businesses that tap into large and severely under-met needs are destined to grow rapidly. But if the founders starve the company of capital, their conservativism eventually will kill growth. Even more important, it will burn out the founders.
When every decision, large or small, has to pass through the CEO, midsized companies develop an overwhelming bottleneck to growth. It takes a team of strong, focused and aligned leaders for companies to keep growing.
Midsized companies can’t be run like an old-world family with one all-powerful matriarch or patriarch. Growth requires an empowered c-suite who are actively growing the leadership capabilities of their teams.
For companies hungry to grow, economic slowdowns are the time to accelerate growth through acquisitions of weak competitors and by snagging market share at a bargain. Here are five ways to prepare to be a power bargain shopper and build your war chest.
Robert Sher is founding principal of CEO to CEO, a consulting firm of former chief executives that improves the leadership infrastructure of midsized companies seeking to accelerate their performance. He was chief executive of Bentley Publishing Group from 1984 to 2006 and steered the firm to become a leading player in its industry (decorative art publishing).