It’s that time of year again. Time for reflection and time to take stock of your IT services companies and see what they’ve achieved in the last 12 months and where you would like to see them headed in the next 12 months.
It’s important to take this time out to review your plans, but don’t do it in isolation. Look at your business environment and review what your competitors have achieved in the past year as well. Look at both their successes and their failures. See what you can learn from them, then use this research to shape your business strategy for the coming year.
Here are five IT service companies that are consistently generating revenues of around $2 million a year, according to Inc. 5000:
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ValexConsulting of Horsham, PA. Formed in 2000, this company continues to earn revenue at a steady pace. They’ve expanded their service offering over the years, and currently include application development, business intelligence, business process management, customer relationship management, social media, data integration and management, and content management.
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Ash Creek Enterprises of Stratford, CT. Formed in 1999, they have a very healthy revenue-per-employee ratio. Their service offerings are likely to be very similar to those that many of you wish to offer or already do offer. This includes CIO/CTO outsourcing, hardware and software procurement, cloud services, VoIP, managed services, remote monitoring, and various professional services.
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Prominic.NET of Champaign, Illinois. Formed in 1998, their 3-year growth rate stands at 30%. They are a managed services provider serving more than 400 companies worldwide with managed hosting, public cloud, and private cloud for a variety of products, including IBM Lotus, Microsoft, Apple, Blackberry, Adobe, Intuit, and custom applications.
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Bit-Wizards of Fort Walton Beach, FL. Formed in 2000, their growth rate has remained steady. They offer a variety of services from business planning through to software development, software integration, website and graphic design.
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iMark of Newburyport, MA. Formed in 1997, their revenue is on an upward trajectory, having grown by 27% over the last 3 years. They are a full-service digital agency meaning they design and develop websites, content, mobile apps, web apps, and video.
It’s never a good idea to base your business strategy solely on what others do, but equally, it is foolish to ignore the accomplishments and failures of others because there is always something to learn. Each of the businesses above has something to teach you. Check out their websites, their resources, and their social footprints to see what you can learn and apply.
How do you carry out this type of reflective research and review? Share your experiences with us in the Comments section below.
Creative Commons Image Source: flickr stefan.erschwendner
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