Addressing Middle Market Challenges

Entrepreneur's Playbook | Episode: 503 | Guests: Andy Ray | 0

Karen Love introduces Andy Ray, a principal on the PKF Texas EAS team. Andy shares the advantages middle market companies have and challenges they face during the life cycle of a business.

Karen: This is PKF Texas, Entrepreneurs Playbook, and I’m Karen Love hosting cofounder. Today I’m here with Andy Ray, a principal in our entrepreneurial advisor’s services team. Welcome to the Playbook Andy.

Andy: Thank you for having me.

Karen: Well listen, today what I’d love to talk to you about is why do you feel like the mid-market is a great way to affect change?

Andy: Mid-market is a great way to affect change just in the fact that the mid-market has the size to change. They can change very quickly, and just the fact that they’re going through so many cycles of growth from their early days into their scalability phases up through all the way to getting financial help, and getting into that investor ready position. It’s all about change in the mid-market. It’s also a great way to develop people, which is also a change element in and of itself.

Karen: Well those are very interesting points about the mid-market. So tell me what are some of the other challenges you had dealing with mid-market companies.

Andy: The big challenge you have with mid-market companies is that as they do grow they can lose some of that nimbleness, some of that entrepreneurial spirit that they had going through that startup phase.

Karen: Right, because they just get too big to do that.

Andy: They get too big. Secondly, the have trouble sustaining change efforts. They have trouble really cementing the things that make them great as they get through their growth cycles, and then the third problem they have, or the third challenge they have is really retaining, and training talent that they get in the business. It gets to be a very transitory market sized company.

Karen: So without the right consulting that you could provide, I could see why that would be a challenge. Would you come back and talk to us more about that?

Andy: Absolutely, I’d love to.

Karen: Wonderful, well thank you. I appreciate that. Well this has been another thought leader production brought to you by PKF Texas Entrepreneur’s Playbook. So please tune in for another chapter.