Business
Today I’m talking with Tom Stewart, the executive director of the National Center for the Middle Market. Tom and the National Center for the Middle Market are dedicated to researching and understanding the middle market economy. This organization, housed in the Fisher College of Business at The Ohio State University, is the only research group that focuses on mid-sized companies. They have surveyed 1,000 midsize companies each year for the past ten years, giving them the necessary data to fill in the information gap on the middle third of the private sector. Tom was also the Editor and Managing Director of Harvard Business Review for six years. He has also participated in the World Economic Forum twelve times throughout his career. In this episode, Tom explains how these businesses are doing things differently to truly become companies and succeed among all of the chaos and uncertainty. The work that Tom and the Center are doing is shedding light on an area of our economy that otherwise is not well researched and understood. You cannot just google and find out information about the middle market economy like with public companies. I think many of you listening will be able to take this valuable insight Tom has from the data and ten years of surveys and apply it to your own companies. What You Will Learn In Today's Podcast Interview How to start thinking about enterprise value instead of just annual profitability Important descriptive statistics about the middle market The seven factors for growth under management’s control found in the top faction of the middle market companies The three different types of companies associated with superior growth found from the Center’s research How COVID has impacted the likelihood of different types of transitions for middle market companies Why the middle market consistently outperforms the S&P 500 The five “COVID cushions” to manage uncertainty Why the middle market is where businesses become companies How an entrepreneur transitions to the CEO role by thinking beyond the lifespan of an individual or company Are You Growing The Value of Your Business Take The 2-Minute Assessment To Get Your Intentional Growth Score™ And 1-Page Vision Board. Are you company's current initiatives intentionally designed to increase the value of the business? Do you know what you want from your business long term and why? Do you know what your company is worth? Do you know the differences between Management, Family Transitions, PE Firms, ESOPs and Strategic Buyers? Does the business have a written strategic plan on how to achieve the desired normalized EBITDA and valuation? About the Guest: Thomas A. Stewart is the Executive Director of the National Center for the Middle Market, the leading source for knowledge, leadership and research on mid-sized companies, based at the Fisher College of Business at The Ohio State University. Stewart is an influential thought leader on global management issues and ideas: an internationally recognized editor and publisher, authority on intellectual capital and knowledge management, and a best-selling author. Before joining the National Center for the Middle Market, Stewart served as Chief Marketing and Knowledge Officer for international consulting firm Booz & Company (now called Strategy&), overseeing the firm’s intellectual agenda, major research projects, and strategy + business magazine. Prior to that, he was for six years the Editor and Managing Director of Harvard Business Review, leading it to multiple finalist nominations for a National Magaz