Ahmed Shaami
About 39,921 businesses have appeared on the Inc. 5000 over the past decade in Inc.‘s ranking
of America’s fastest-growing private companies. This year, the list celebrates its 10th anniversary. Here are 10 secret tips of success from successful companies CEOs.
On Running the Company:
Pinnacle Group
“Don’t waste your time bringing in multiple customers through the front door if you’re going
to lose them through the back door. Grow intelligently. Make sure you know everything about that customer, so you can use it as a case study. Then you’re ready to absorb the next one and the next one.”
Quantum Health
“You need to set some boundaries around growth. We didn’t want any one client to be more than 20 percent of our business.”
YapStone
“If you’re going to embark on a geographic expansion, do it with a large customer. Otherwise, you’re just going somewhere flatfooted.”
On Leading the People:
Billtrust
“The people you hire for the executive team when you’re 40 people are not the people
you need when you’re 400 people.”
Pinnacle Group
“Focus on growing other people, not just yourself. Are you allowing the other people in your company to be entrepreneurs?”
LaSalle Network
“When we have a bad culture fit, no matter how good the person is, we fire that person. I fired my top sales guy. His ego grew too large and he abused relationships, and we fired him.”
V-Soft Consulting Group
“I believe in continuous improvement for myself, not just for the company. I seek help from outside advisers. I’m part of a CEO roundtable.”
On Managing the Money:
Billtrust
“Be careful what venture capitalists you partner with. It’s like a marriage, and if you don’t respect them and don’t think they can add value, you shouldn’t get married.”
Quantum Health
“You have to figure out your cash-flow rhythm. How soon after you invest in new business do you recover from your sales acquisition cost and your ramp-up cost? Whatever you think that number is, you should double it.”
Torch Technologies
“Find the best people you can and start delegating. Otherwise, you’re going to die.”
Hiller Plumbing, Heating, Cooling & Electrical
“I don’t like debt. Being debt-free is very comfortable. If it all went to crap one day, I don’t have a whole lot of payments I have to make.”
Via: INC
