Houston Business Journal Features Coverage of The Event
The Houston Business Journal, the leading periodical dedicated to the Houston business community, has devoted coverage to a speech and discussion session held by Newport Board Group’s Houston practice for business leaders on Tuesday June 26th.
As the Journal reports, Newport founder Doug Tatum addressed the group of Houston business leaders about the struggles of growing a company. There were about 80 attendees representing about 55 companies.
In particular, he outlined the issues of what he calls “No Man’s Land,” a phase of development where mid-size companies no longer have the benefits of being a small businesses but do not have the resources of a large business.
Companies in No Man’s Land are the strongest job creators in the country, but they are also the most likely to fail, Tatum said.
“Companies that go through No Man’s Land are disproportionately important to the U.S. economy,” he said. “It’s where the growth is in the U.S. economy.”
Tatum went on to give tips for navigating through No Man’s Land, which include identifying the value of your company, professionalizing management (which could mean letting go of loyal employees) and sharing decision making more widely in the organization.
After Tatum’s presentation, members of the audience addressed how their own companies are struggling with No Man’s Land. For example, one participant talked about the challenges of communicating strategic business decisions to company members, who are mainly scientists. According to Doug Tatum, this willingness to discuss the challenges of your growing company is a positive step: “The more transparent you are, the better decisions you can make,” he said.
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