There is a wealth of material about middle child syndrome, where the child born second of three siblings feels left out. The archetypal situation is where the firstborn has a privileged position and the youngest receives plenty of attention, but the child in the middle feels the pressure of exclusion. Is the same true of business, where medium-sized companies are not receiving the same degree of guidance and help as smaller enterprises?
The Missing Part of the Journey
Businesses may reach a stage where their growth slows or even stagnates, because the model they are basing themselves on cannot take them further along their journey. They may need to move on from being companies to small corporations.
John Holmes, Managing Partner of Core Business Solutions in Manchester, observes that the lack of visible support channels in this field can mean that medium-sized companies are not even aware that they could be taking this step.
“There is a massive potential for growth here”, John states, “but the official support and advice are missing”.
It becomes a question of focus. Many SMEs are firmly UK-based in their operations simply because this is the place they started out in. However, the UK may not be the only, or even the best, market for their business.
“Strategically it makes sense for medium-sized enterprises to cast their net wider. But to do this effectively they need the right structural underpinning to enable them to expand their operations”
Room at the Top?
Medium-sized businesses need to take the time to plan and managing directors can face challenges if their own roles require elevation.
”When businesses evolve this requires moving up to a whole different level”, John explains. “In terms of leadership, there needs to be boardroom support and a supporting team on hand with the right kind of advice”.
Many businesses arise from a singular vision, but in making the necessary leap to becoming corporations, they require a broader set of skills and a balanced, strategic approach.
“If you’re an MD it can be a lonely and difficult place to be, if everyone is looking up at you and you’re not getting the assistance and advice you need”, John says.
The best, outsourced professional help for medium-sized enterprises wanting to complete the next stage of their journey is multi-faceted business support at all levels.
“That’s exactly the aim of Core Business Solutions”, John concludes, “to take a strategic overview and be in a position to provide different levels of support, depending on the requirement.”
John Holmes has over twenty-five years experience in strategic development, project management, systems analysis, business analysis, sales and marketing across a variety of business sectors, both on a national and international basis.
If you would like to discuss the growth options for your medium-sized company, please call Core Business Solutions on 01695 732 543 or visit core-bs.co.uk