30 Aug Revenue Rocket Launches into the Inc. 5000 Fastest Growing Companies List AGAIN!
Here we grow again… how cliche! But true! We wanted to share the recipe and cadence that earned Revenue Rocket a spot on the Inc. 5000 list of America’s Fastest Growing Privately Held Companies for 2023.
We’d like to say it’s all about focus and hard work but the reality is it’s been about following our own methodology for organic growth. As laid out in our SVP program, the key to sustainable, profitable growth comes from specializing (M&A and Growth Strategy), verticalizing within a serviceable market (IT Services) and productizing our offering(s)(It’s easy to buy from us).
With these disciplines in place, we strategically looked at opportunities to move the needle (the revenue and profits needle) and landed on these five major initiatives we set out to execute roughly 24 months ago.
Increased Deal Size: In the M&A advisory services market, the revenues are often tied to successful combinations, and regardless of deal size, the efforts to prepare, market, and execute against a merger or acquisition are similar for a $8M deal as they are for an $80M deal. Setting our sites upmarket (not being unrealistic) we could obtain growth without a dramatic impact on our workforce operationally. This doesn’t mean all deals are block-busters, but we became trusted in our market and earned the responsibilities of larger transactions.
Leadership Expansion: When it comes to better providing service to our growing client list, we setup to expand the leadership team by acquiring top talent that came with both a solid how-to pedigree and a list of customers in an adjacent vertical where our methodologies will prove valuable. This past few years, we expanded the executive team in sales, business development, marketing, operations, and administration. Starting with revenue-generating resources and backing into execution resources, we grew at a pace that enabled us to maintain profitability while increasing investments into execution and operations teams needed to provide a best-in-class experience to our customers. We are even on our 4th year of summer interns!
More Deals and More Deals: Once we had the larger infrastructure in place, the success of the team continued to prove itself through a combination of volume but also velocity. Our average mandate timeline has decreaesd as a byproduct of better automation and customer-focused project management that kept deals on track; before, during, and after the firm would obtain an LOI (Letter of Intent) surrounding the merger or acquisition.
More Clients – We know, sounds a lot like more deals… but, it’s about the larger industry consolidators that are coming back to the Revenue Rocket again and again when they are in the market for a new acquisition or if they are ready for an exit. The increased deal size lead to Revenue Rocket’s increased deal flow from the financial buyers. Whether private equity or strategic investors, these buyers are more aggressive and disciplined when it comes to sourcing, preparing, and executing against a combination. This also helped us with our velocity but simultaneously contributed to increased performance on our marketing spend.
Growing the Strategy Practice: Revenue Rocket has been providing the IT Services industry with strategic organic growth consulting for over 23 years. The reasons we started this practice years ago were largely due to the need our M&A clients brought into the mix when looking at either an acquisition or considering an exit. The truth is, many of them were not ready to buy or sell; and our ability to be successful in a combination would mean we’d have to roll up our sleeves and provide the guidance that would get them to a point where they are ready for the M&A process. Today, we provide these organic growth customers with a full suite of services to help them identify opportunities, increase focus and gain repeat business that provides a higher profitability and increased capacity that fuel the organizations growth.
In summary, we are not only drinking our own kool-aid but we are launching new flavors and the industry is loving the taste. The recognition from credible outlets like Inc. 5000, provide the market and ourselves with the confidence that our success is quantifiable and that we are making a difference for our customers and our employees and that feels good as a business owner.
Thank you to all our customers, employees and industry as a whole for the continued support over the last year. We are excited about making the list again next year and will continue to share opinions and resources through various channels like podcasts, blogs, and industry insights.