These days, major corporations are holding onto large cash reserves because executives do not trust the government or the financial industry. The underlying causes of this lingering recession haven’t been resolved, so you really can’t blame them. But corporate sector resistance to buy, launch, and hire is clearly protracting the recession. Midsized companies are directly impacted because they [you] have smaller reserves, often rely on corporate accounts to set the pace of their growth or stagnation, and are dependent on banks.
What will change the pattern and release the strangle hold on the economy?
The traditional answer is that we should look to small businesses. Independent entrepreneurs will have creative ideas. They’ll risk their mortgages and children’s tuitions. Small business is the” economic engine”, right?
My hope is that leaders of midsized companies will make their [your] move, step up, introduce new ideas, and convince corporate strategic partners to work with them. That makes more sense, doesn’t it?
Why should we wait for bright ambitious people to resign from our midsized companies to become solo entrepreneurs and initiate change? Why should we lose their expertise, ideas, energy? Midsized companies have the needed infrastructure, reputation, and systems. There is a base from which to drive change, innovate, and move forward. Why should change always have to start from scratch? It’s so inefficient!
Look at your employees. Who HAD ideas? Who may become impatient waiting for you? Who is probably be contacted by search firms even during this tight economy? Who could become an equity player and help propose big ideas to your corporate accounts? Who would prompt you to kick yourself when you learn that he/she has left your business to become an entrepreneur?
Aldonna R. Ambler, CMC, CSP has earned the right to be called The Growth Strategist®. She built a suite of companies that help privately held mid-sized companies in Achieving Accelerated Growth With Sustained Profitability® through opportunity and resource analysis, strategic planning, executive advisory services, growth financing and targeted search. She provides 40-50 strategic and keynote presentations each year and has done so for 30+ years. A multi-award winning entrepreneur, online talk show host and highly esteemed economic development advocate, Ambler continues to broaden her participation on corporate boards and serve as a growth financing intermediary for mid-sized businesses ($20-$200 million in revenue).