Reflections on 2009 Inc. 5000 “Fastest-Growing Private Companies” Recognition
For the second year, Duo Consulting has been named to Inc. magazine’s ranking of the nation’s top 5000 fastest growing private companies. This year we are number 2148 (up from 2748 last year). Certainly, this gives us a horn to toot. So toot, toot. But I wanted to give this some thought and reflect on what this means beyond giving Duo a short term promotional angle.
First, in an otherwise tough economic environment, being a fast growing Internet-based company suggests that we are in a sector of the economy that remains vibrant. Business managers should take note that even though marketing budgets are taking it on the chin, available marketing dollars are being diverted to an increasing number of Internet initiatives. So while gross marketing budgets may be depressed, Internet spending is being sustained. Check your budget allocation to insure you are moving in the same direction.
Second, I had to think about whether being a fast-growing company is a good thing. When you grow quickly, client relationships might suffer, a growing employee head count might impact the existing intimate company culture, business infrastructure such as performance reporting or accounting may become stressed, and office facilities become tapped out.
All these challenges loom. But being in business is just a constant source of problem solving. And I’d rather deal with those problems associated with growth rather than those of stagnation. So based on surveys we’ve conducted from our client base, we’ve doubled-down our focus on client relationship management. We have also moved to new headquarters this year which are a bit roomy today but permit us the space we need to continue our measured growth. And we’ve adopted an open-book management style to more effectively embrace everyone who works at Duo and help them appreciate how the individual efforts of each person contribute to our success.
Growth is good. But it is only sustainable if we continue to support our clients who support us. And we can only do that if we continue to have the enthusiasm, energy and creativity of the people at Duo. It’s a balancing act I’ve managed at Duo for a decade and it’s great to have our achievement receive this national recognition from Inc. Magazine. Toot. Toot.
