Unlock Business Growth: The Power of ACG Awards
How the various ACG chapter awards spotlight dealmaker vanguards, and can boost company performance, too
When Gary Fisch, founder and CEO of Gary’s Wine and Marketplace, won the ACG New Jersey Entrepreneur and Community Leadership Award last year, he was honored by the recognition. But he didn’t realize that it might affect his business.
Since winning the award, Fisch has noted that other organizations have begun to recognize his company.
“What did happen is other organizations said why didn’t we recognize them before,” Fisch says. “So that started happening more. It’s definitely flattering and greatly appreciated.”
While winning an award can boost morale, it might also have other tangible benefits. According to United Kingdom-based Best Business Awards, winning business awards can positively impact the bottom line.
ACG Event Recap
WHAT: ACG chapter awards
WHERE: Nationwide
WHEN: Year-round
THE TAKEAWAY: ACG’s chapter awards not only honor middle-market dealmakers, they can boost company performance, research shows.
The BBA reports that large companies that have won awards experienced a 48% increase in operating income and a 37% growth in sales compared to those that have not won awards.
Also, smaller award-winning companies have been shown to experience a 63% increase in operating income and a 39% growth in sales compared to non-winners.
In addition to boosting sales, business awards can have many positive effects, including improving employee morale, retaining staff, attracting new employees, increasing productivity, raising the CEO’s profile, boosting exposure, building credibility, and assisting brand recognition.
Large companies that have won awards experienced a 48% increase in operating income and a 37% growth in sales compared to those that have not won awards.
Brooks Morris, principal at Cresa, a commercial real estate advisory firm, and ACG Atlanta’s Georgia Fast 40 Awards Committee Chair, recommends applying for ACG business awards through local chapters. The Georgia Fast 40 Award recognizes the fastest-growing middle-market companies in Georgia.
The companies honored by the Georgia Fast 40 Award have demonstrated sustained revenue growth and employment. Last year’s lower and upper categories honorees account for about 10,000 new jobs and more than $2.6 billion in revenue growth in the previous three years.
“It shows you are the top of your peer group as it pertains to revenue growth and headcount growth in this particular market, but it goes beyond that,” Morris says.
The Georgia Fast 40 has gained recognition as a prestigious award in the local business community, Morris says. Middle-market dealmakers are aware of it and pay attention to who’s on it from year to year.
The Georgia Fast 40 is crucial for the middle market because it signals to potential employees that these are the companies that are growing, which could be beneficial to their career development, if they join the staff. The award also can help raise capital and business development.
However, to get the most out of the awards, it’s advisable for companies to promote the recognition themselves, Morris says.
While the ACG chapters promote the award winners, some companies don’t always take the opportunity to toot their own horn, Morris says. However, companies should view this as an opportunity for free exposure and recognition for their hard work and accomplishments.
Companies that win business awards should leverage this achievement by promoting it on their LinkedIn social media accounts at a minimum, he says.
Other strategies include sending out an eblast to thank customers and partners for their support in achieving the award, asking employees to include the recognition in their email signatures, and featuring the award prominently on their websites. Also, some companies may send out press releases for placement in local media.
“You can always find some way to promote it,” Morris says. “In some cases, it can give you a year’s worth of promotions for your brand.”
Upcoming Awards
April 24
Outstanding Growth Award
ACG Western Michigan
April 24
Deal of the Year Award
ACG Houston
April 25
ACG Annual Awards
ACG Indiana
May 2
Mergers and Acquisitions Awards
ACG Dallas/Fort Worth
May 6
Ninth Annual M&A All Star Awards
ACG Detroit
May 9
Grow! Awards
ACG Silicon Valley
May 14
Deal of the Year Awards
ACG Kentucky
May 14
Sixteenth Annual SMART Awards
ACG Orlando
June 5
Deal Maker Awards
ACG Cincinnati
June 6
Corporate Growth Awards
ACG National Capital
June 11
Corporate Growth Conference and Awards
ACG New Jersey
June 27
Georgia Fast 40 Awards
ACG Atlanta
October 24
Annual Networking and Awards Event
ACG Columbus
Nov 7
Growth Awards
ACG San Francisco
Date TBA
Growth & Spotlight Awards
ACG Dallas/Fort Worth
Middle Market Growth is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
