I often find myself referring to mid sized enterprises as the awkward teenagers of the business world. This isn’t due to the fact that they’re often just entering their actual teens in terms of years in business, although many are, but more due to some of the characteristics typical of this group.
- They have unpredictable growth spurts
- They suffer from occasional breakouts
- They’re sometimes not very communicative
- They can think no one understands them
- They’ve started to “sleep in”
Unpredictable growth spurts
There’s no getting away from the fact that it’s a lot easier managing a consistent growth curve than one that bucks all over the place. That said, mid sized businesses are ideally positioned to manage and capitalise on this, given that they’ve got more resource and structure to them than small businesses but are still agile enough to respond to dramatic shifts effectively, unlike their FTSE 250 siblings.Make it work for you
Create a simple, easy to execute scale up plan that’ll allow you to quickly respond to and make use of demand spikes. Then take a look at your last couple of years data to identify where demand spikes have occurred. You can use this data to figure out at what point on the uptick you ran out of delivery resources and had to back off, then use that to create a reporting marker that triggers your scale up plan in just enough time to avoid this peak going forward.“Breakouts”
A mid size business has generally outgrown the “oh wow, everything is leaking and there’s not enough duct tape in the world” reality of a startup. Bit they’re not so far out of the woods that the wheels don’t come off in some areas, some of the time. You might have a disgruntled employee wreak havoc before leaving for instance. We like to call these breakouts, because much like teenage spots they can make your mid sized business look a little less perfect for a while but, effectively treated, they’re unlikely to cause any long term damage.Make it work for you
Create a method of triaging your breakouts, something simple that will enable you to quickly assess the potential damage to your business. We like to look at:- Scale: How big is the actual problem in its subject/nature?
- Scope: How far does the effect of the problem continue? A team, the whole business, your whole customer base?
- Duration: How long is it likely to be an issue for if we respond appropriately?