Last week we looked at the traits of mid-market companies that consistently grow (according to Inc. magazine’s ‘Build 100’ research). This week: what do those companies worry about?
Tellingly, the top external factor they worry about is not the economy, rising health care costs or other macro factors. It’s rising competition. These consistently growing companies are competitively focused and don’t spend time wringing their hands about things completely outside of their control.
The top internal factor that concerns them is training future supervisors and managers. Successful growth depends on employees who can deliver the brand experience. Which in turn depends on managers who can select, engage and develop the right employees.
Finally, what is the potential event they most fear? Not a security breach, not expanding too quickly … but the loss of a key employee. These companies know that having the right people is absolutely critical to success. They need to get and keep the right people.
Rising competition. Training future supervisors and managers. Losing a key employee. Are you worrying about these enough?