The Future 50 of Greater Detroit is sponsored by BDO Seidman LLP,
the Detroit Regional Chamber, LaSalle Bank and WWJ Newsradio 950. The
awards competition is open to all businesses in Southeast Michigan
(Genesee, Lapeer, Livingston, Macomb, Monroe, Oakland, St. Clair,
Washtenaw and Wayne counties) that have been in business at least two
years and have at least $2 million in annual revenues. Winners are
chosen based on growth in employment, investments, community
enhancement, revenues and acquisitions.
Success Strategies
11 Future 50 winners share their best practices with the Detroiter
'Determine the right growth strategy'
CLEAR!Blue
Todd P. Smith, CEO
Business: Marketing and communications
Q: What was your greatest business challenge, and how did you
resolve it?
A: Determining the right growth strategy. We have the talent pool
to do almost everything in the marketing and communications universe,
but it doesn't mean we should. So, we established a Strategy Team
that evaluates opportunities and continually evolves our growth plan.
The team helps keep us focused on the most strategic, complementary and
relevant offerings in our arsenal of talent. These are the things we do
best, and they position us well to address the continuing evolution of
our industry.
Q: What is your advice to someone who wants to start a new
business?
A: First, learn all you can about marketing and finance. Second, if
you haven't found the right business idea, look harder. Is there a
saturated market you can break into? Study the Inc. 500 to see how
others have done it. Third, have a vision and a mission, backed by
values. Write it all out in simple terms and make sure it's deeply
meaningful to you. Fourth, embrace your idealism and follow your
passion. They're what get you through the sleepless nights. And
finally, never stop being an entrepreneur. Keep on reinventing, because
our world will never stop reinventing itself.
Favorite business book -- "The 7 Habits of Highly Effective
People," by Stephen R. Covey
Best place to find new clients -- Right in front of you. If you can
make your company's product attributes better than the competition,
the world becomes your playground.
'Focus on generating revenue'
Compsat Security Inc.
Daniel Glisky, CEO
Business: Physical and electronic security systems
Q: What was your greatest business challenge, and how did you
resolve it?
[ILLUSTRATION OMITTED]
A: Learning how to manage two growing, dynamic companies. Compsat
Technology has been a four-time Future 50 winner and this is Compsat
Security's first win. Learning how to effectively manage my time
amid the needs of both leadership teams, suppliers and clients has been
a significant personal growth and management challenge.
Q: What is your advice to someone who wants to start a new
business?
A: First, you have to maintain a focus on revenue generation, for
without revenue, you don't have a business. Second, understand your
unique ability and hire great people around you that can enable you to
stay doing what you do best. Third, join a peer group of entrepreneurs,
such as the Entrepreneurs Organization (EO) where you can share
experiences and gain insight from others who are also growing
businesses.
Quick tip for saving money -- Relentlessly focus on ensuring you
have the right people. In my experience, no other effort could yield as
dramatic a cost savings or cost expenditure.
Favorite business book -- "Good to Great," by Jim Collins
Best place to find new clients -- From referrals from current,
satisfied clients
'Be honest with yourself'
Dynamic Edge Inc.
Bruce McCully, President
Business: Computer and business consulting
Q: What was your greatest business challenge, and how did you
resolve it?
[ILLUSTRATION OMITTED]
A: Not just finding the right people but also knowing when it is
just not working out with an employee and helping them make the decision
to move on.
Q: What is your advice to someone who wants to start a new
business?
A: Know your weaknesses and be honest with yourself about them.
Make sure the first people you hire are people who excel in those areas!
Quick tip for saving money -- I like to make my lunches ahead of
time on Sunday night. This way, even though I am in a hurry during the
week, I don't end up eating out as much. This also helps me eat
healthier. It is as easy as grilling chicken breasts along side Sunday
dinner, and having them ready to go for lunch.
Favorite Website for business information and resources --
http://goodtogreat.com. If you find Jim Collins' books to be
insightful, his Website helps people really explore the concepts his
research has uncovered. It is a seemingly endless resource of advice for
anyone looking to improve their business.
Favorite business book -- "Good to Great" by Jim Collins.
"Getting Things Done" by David Allen is a close second.
Best place to find new clients -- Through referrals from our
existing clients. But we have found it is equally important to be active
and visible throughout our business community.
'Never promise more than you can deliver'
Employees Only
Mario Apruzzese, CEO
Business: Professional Employer Organization (PEO)
Q: What was your greatest business challenge, and how did you
resolve it?
A: Defining the type of clients that would benefit most from our
services. Whenever you build a business there is a tendency to try to be
"everything to everybody." We decided early on to give our
clients and prospects the best feedback and information, even if it
meant a different direction than utilizing our services. The result was
a more focused staff that had the resources and desire to handle and
support clients with those needs.
Q: What is your advice to someone who wants to start a new
business?
A: Never promise more than you can deliver and surround yourself
with talented people. If you are a sole owner, establish an advisory
board and compensate them to give you regular feedback and challenge you
and your plan. You need to have your ideas challenged and have a
sounding board of independent thinkers with access to resources and
knowledge.
Favorite business book -- Any of the Pat Lencioni Books.
They're very easy reads, and make perfect sense.
Best place to find new clients -- It may sound obvious, but your
own clients should be your No. 1 source. If they're happy with what
you provide, they should help. Any client reluctant to refer your
business is NOT telling you something.
'Surround yourself with the best people'
FH Martin Constructors
R. Andrew Martin Jr., President
Business: Commercial construction services
Q: What was your greatest business challenge, and how did you
resolve it?
A: Expanding our geographic reach to include new market areas
throughout the Midwest. Construction, by its nature, tends to be more
local--it may not be cost effective to bring all of the people and
materials needed to build a building across long distances. But we work
with a number of large national clients, and these clients have
requested that we travel outside of our "home" market to
perform projects for them. This creates a number of challenges,
including finding qualified subcontractors in the local market.
Q: What is your advice to someone who wants to start a new
business?
A: Surround yourself with the best people you can find, make sure
they understand and will act in a manner that is consistent with the
vision you have and the core values of the company, and then let them go
out and do good things.
Quick tip for saving money -- Take the time to analyze money saving
opportunities. Don't just take the easy way of doing what
you've done before.
Favorite Website for business information and resources -- Google.
From there you can get almost anything!
Favorite business book -- "Good to Great," by Jim Collins
Best place to find new clients -- For us, the best new
opportunities come from positive referrals. These referrals come from a
number of places: existing clients, design professionals, subcontractors
and many others.
'We are all in the people business'
Iknowvate Technologies Inc.
Venkat Mallya, Founder/Chairman/CEO
Business: IT products and services
Q: What was your greatest business challenge, and how did you
resolve it?
[ILLUSTRATION OMITTED]
A: Our focus and expertise has been in two specific business
verticals--automotive and government, both of which were badly hit in
last years. We wanted to diversify and go beyond Michigan, so we
launched a complete business process automation software for well
drillers, which will be sold worldwide. This is a virgin market, and we
are all set to create a world standard. We also moved rapidly into
Product Lifecycle Management (PLM) and Knowledge Based Engineering (KBE)
to help auto companies cut costs in the product-development lifecycle
and reduce the concept-to-market lead time.
Q: What is your advice to someone who wants to start a new
business?
A: Have a clear vision, invest with conviction to your vision, size
the market and focus on getting that first order and first dollar.
Otherwise, you'll never know how you've already spent all the
money and time. Take great care of all the people you come across. Your
clients are people, your suppliers are people, your employees are people
and your community is people. We are all in the people business. The
rest is incidental.
'Make sure you have the physical stamina'
Integrated Media Technologies Inc.
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