At our annual Rhythm Systems Breakthrough Conference in Charlotte this year, we had the opportunity to survey our audience of over 150 mid-market executives and ask the question, “What are the top 8 business challenges for mid-market companies?” The term “mid-market” refers to the size of a company based on its annual revenue, usually between $10 - $500 million. It may seem like a big swing to go from $10 million to $500 million, but not so big when you consider that only 3% of all companies ever make it past the $10 million mark.
And we know from over a decade of experience working with mid-market companies that those who fall in this revenue range have a unique set of challenges they must overcome. They’ve outgrown the simple management systems that supported their needs in the start up phase, but haven’t quite reached a level of maturity that brings stability and consistency. Things are changing rapidly, resources are stretched thin, and complexity has reached a new high. These companies need help, and we’re constantly adjusting to provide consulting services and tools to meet those needs.
So what did these executives have to say? The top 8 answers are on the board…
Finding, Retaining and Growing Top Talent
Executing Strategy to Achieve Goals
Maintaining a Healthy, Accountable Culture
Beating Competition and Winning Market Share
Growing Top Line Revenue Year Over Year
Selecting, Communicating & Aligning Top Priorities