Private Companies are Setting the Pace in Massachusetts
I attended the Boston Business Journal’s Pacesetter Awards last Friday. It was a very nice breakfast event at the Westin Copley in Boston. The event honored the 50 fastest growing private companies in Massachusetts, ranked by revenue growth. It shows that growth is strong even in the midst of a staggering recession. You can view the entire list here.
The list is determined by survey information gathered and analyzed by the BBJ from private companies throughout the Greater Boston area. Companies are selected on their revenue growth between 2006 and 2009. Revenue had to exceed $1 million as of 2006.
The top 10 companies came from different industries – from Internet marketing, healthcare technology and IT services to environmental engineering and design, anti-static flooring, general contracting and international business services.
The event began with an hour-long panel discussion moderated by Dan Hutchins, Boston Private Company Services Market Leader, PricewaterhouseCoopers LLP. The panelists were: Wendi Goldsmith, CEO, Bioengineering Group; Steven Hauck, Co-Founder and President, AgencyPort Insurance Services, Inc.; Girish Navani, CEO and Co-Founder, eClinicalWorks; and Mont Phelps, CEO, NWN Corp.
Two themes that kept reappearing in various forms were customers and employees. “Look internally….” “Listen to customers….” “Keep your culture and motivate your people….” “Bring in good, quality people to serve the customers well….” “Hone in on the company….”
Balance was another topic of discussion. Whether it pertained to balancing the kinds of clients a company goes after or balancing one’s own lifestyle, balance seems to be an important part of a company’s success.
Another interesting point to make is that the top 10 aren’t brand new companies. Founding year ranged from 1992 – 2006, and percentage growth (from 2006 – 2009) ranging from more than 100% to more than 400%. This aligns with the customer and employee focus. If your leadership and employees are creative and understand the market and their customers, then a business can stay flexible and survive even in the most difficult times. Easier said than done, sure, but it’s working. They keep their eye on the prize. One of the panelists even said, “Don’t overthink risk.”
A proud moment came at the end of the 50-company countdown, when they announced Schwartz client High Street Partners as the #1 Pacesetter for 2009, with revenue growth at 473.92% to $12.4 million in 2009. Larry Harding, founder and president, accepted the award. He offered thanks to his clients and to his employees, without whom HSP wouldn’t be where it is today. In an interview with Keith Regan, Larry also said that High Street enters 2010 in “full-throttle hiring mode,” with the firm expecting to add significantly to its head count of 60 employees over the course of the year. “In 2010, our focus is on putting our foot on the accelerator and really growing now.”
Schwartz offers its congratulations to High Street Partners and all of the winners, and wishes them the best in 2010 and beyond.
Photo of High Street Partners, from left to right: Scott Aldsworth, Vice President, Business Development; Larry Harding Founder and President; Deborah Millin, Vice President, Client Operations; Christian Snyder, Managing Director, Higher Education
Posted by Davida Dinerman on April 19, 2010 at 9:12 AM
