Congratulations to Growthink Client Uvaggio on Their Grand Opening!

Growthink client Uvaggio officially opened their doors last month in Coral Gables, FL and we're excited to see all the press and buzz they've been receiving.

Founded by Craig DeWald, a former director in HR for American Express, Uvaggio is a wine bar and restaurant focused on introducing patrons to wine from small hand selected wineries and European-style plates by Chef Bret Pelaggi.

It was named one of the top 10 new Miami restaurants that opened this Spring (http://www.thrillist.com/eat/miami/best-new-restaurants-bars-openings-miami) and we look forward to hearing about their growth and success in the future.

Congratulations Uvaggio!


Women Presidents' Organization Unveils the 50 Fastest-Growing

Women-Owned/Led Companies Worldwide

Dramatic 203% Surge in Revenue Revealed in 2014 Data

New Orleans, LA (April 25, 2014) – The Women Presidents’ Organization (WPO) has released its 7th Annual list of the 50 Fastest-Growing Women-Owned/led companies around the globe. The 50 Fastest generated $4.9 billion in combined 2013 revenues and collectively employed 22,000 people. Compared with last year’s list, the total combined revenue of the 2014 winning companies grew by a dramatic 53%.

Thirty-One Gifts, a direct seller of exclusive, stylish and functional purses, totes, fashion accessories and organizing solutions, is the fastest-growing woman-led/owned company. Cindy Monroe, founder and chief executive officer who started the company in her basement in 2003, saw her company’s revenues grow exponentially in four years -- from $38 million in 2009 to $760 million in 2013.

“The companies that made it onto our list this year reflect the continued resourcefulness of women-led businesses,” said Marsha Firestone, Ph.D., president and founder of WPO. “We saw production soaring, with an average revenue growth of 203% from 2009 to 2013. Not only is the financial growth of these companies impressive, it shows that women entrepreneurs are making inroads in non-traditional businesses, such as information technology and transportation. The growth of these women-led companies is particularly impressive as the world economic recovery struggles to gain traction. Privately held U.S. companies on average ended 2013 with annual sales growth of 5.4%, the slowest rate of sales growth since 2009,” Dr. Firestone added.

Strategic Communications, a Louisville-based provider of technology services run by Kathy Mills ranked second this year, nearly doubling the company’s revenues, from $45.4 million in 2011 to $97.3 million in 2013. WDS, Inc., an international warehousing, distribution and inventory management company, rounds out the top three. Jennifer Maier, chief executive officer and president, grew the company’s revenue from $13.2 million to $155.8 million in the past four years.

For the first time since its inception, the 2014 50 Fastest was opened to applicants on a global level, resulting in two international businesses in the top ten. Participating companies were ranked according to a sales growth formula that combines percentage and absolute growth. To be qualified for the ranking, businesses are required to be privately held, woman-owned/led companies with annual revenue of at least $500,000 by year end 2008. 

More about the 2014 WPO 50 Fastest:

·         Average revenue grew from $32.6 million in 2009 to $98.8 million in 2013

·         Founded the business: 90%

·         Average age: 48

·         Average number of projected 2014 employees: 657

All 50 companies were honored at a special event during the 2014 WPO Annual Conference in New Orleans, LA on Thursday, April 24, 2014. 

The WPO’s 2014 50 Fastest-Growing Women-Owned/Led Companies are:

 

Entrepreneur Name

Company Name

City/State

1

Cindy Monroe

Thirty-One Gifts

Columbus, OH

2

Kathy Mills

Strategic Communications

Louisville, KY

3

Jennifer Maier

WDS, Inc.

Lake Wylie, SC

4

June Ressler

Cenergy

Houston, TX

5

Shelly Sun

BrightStar

Gurnee, IL

6

Zeynep Erkunt-Armagan

Erkunt Traktor Industry Inc.

Sincan, Ankara - Turkey

7

Leslie A. Firtell, Esq.

Tower Legal Solutions

New York, NY

8

Dr. Rebecca Thomley

Morning Star Financial Services, LLC

Golden Valley, MN

9

SungJoo Kim

Sungjoo D&D

Seoul - Korea

10

Anita Emoff

Boost Technologies

Dayton, OH

11

Fiona Gathright

Wellness Corporate Solutions, LLC

Bethesda, MD

12

Lenora Payne

Technology Group Solutions, LLC

Lenexa, KS

13

Rebecca Cenni

Atrium Staffing

New York, NY

14

Liz Elting

TransPerfect

New York, NY

15

Beatriz Manetta

Argent Associates, Inc.

Edison, NJ

16

Celeste Gudas

24 Seven Inc.

New York, NY

17

Jennifer Guthrie

In-Flight Crew Connections

Charlotte, NC

18

Therese Tucker

BlackLine Systems

Los Angeles, CA

19

Lori A Blaker

TTi Global

Rochester Hills, MI

20

Pamela Chambers O'Rourke

ICON Information Consultants, LP

Houston, TX

21

Leslie O'Connor

Search Wizards, Inc.

Atlanta, GA

22

Natalie Davis-Runyan

Anserteam Workforce Solutions

Dallas, TX

23

Keeli Jernigan

Trans-Expedite, Inc.

El Paso, TX

24

Cheryl Y. Biron

One Horn Transportation

Wayne, NJ

25

Patricia Bible

Katom Restaurant Supply

Kodak, TN

26

Kara J. Trott

Quantum Health

Columbus, OH

27

Claudine S. George

ICONMA LLC

Troy, MI

28

Jacqueline B Wilson

American Fashion Network

Manlius, NY

29

Teresa Sherald

Diversity Search Group

Columbus, OH

30

Denise Wilson

Desert Jet

Thermal, CA

31

Cassandra Sanford

KellyMitchell Group, Inc.

Clayton, MO

32

Phyllis W. Newhouse

Xtreme Solutions Inc

Atlanta, GA

33

Lisa David

eCapital Advisors, LLC

Bloomington, MN

34

Jennifer Smith

Innovative Office Solutions

Burnsville, MN

35

Orit Koren

Trillium FSB Inc.

Concord, ON - Canada

36

Allison McGrath Judge

Transformhealthrx

Statesboro, GA

37

Anjali "Ann" Ramakumaran

Ampcus Inc

Chantilly, VA

38

Cheryl Brunetti

RVM Enterprises, Inc.

New York, NY

39

Ranjini Poddar

Artech Information Systems, LLC

Cedar Knolls, NJ

40

Necole Parker

The ELOCEN Group, LLC

Washington, DC

41

Meredith Leapley

Leapley Construction Group of Atlanta, LLC

Atlanta, GA

42

Joanne Santomauro

Ancillare

Horsham, PA

43

Shari Dingle Sandifer

Avant Healthcare Professionals

Casselberry, FL

44

Dee Hays

Excellence Engineering, LLC

Tulsa, OK

45

Shelly Morse

The Mosaic Company

Tukwila, WA

46

Elaine Osgood

Atlas Travel & Technology Group

Milford, MA

47

Karen Clark Cole

Blink UX

Seattle, WA

48

Tracy Balazs

FSR

Annapolis MD

49

Jamie Fletcher

Mach 1 Global Services

Tempe, AZ

50

Jessica Firestone

Tempest Telecom Solutions LLC

Santa Barbara, CA

 

About the Women Presidents’ Organization (WPO) 
The WPO is the ultimate affiliation for successful women entrepreneurs worldwide. In monthly meetings across the world, women from diverse industries invest time and energy in themselves and their businesses to drive their corporations to the next level. Local WPO chapters are coordinated by a professional facilitator and meet monthly to share business expertise and experience in a confidential setting. For more information, call 212-688-4114 or visit www.womenpresidentsorg.com.

Hubspot, Marketo, Eloqua: New Data Shows Marketing Automation Market Share in Unprecedented Detail

Hubspot, Marketo, Eloqua: New data shows marketing automation market share in unprecedented detail
Image Credit: Content Marketing Institute
April 4, 2014 11:00 AM
John Koetsie 

From Venture Beat

Hubspot is the number one deployed marketing automation system on the planet. However, Marketo has top market share for companies with websites in the Alexa top 100,000 — and the top 10,000, and the top 1,000.

But wait.

If you just look at Alexa top 1,000 sites, Hubspot is actually in seventh place behind Oracle’s Eloqua, Salesforce’s Pardot, DemandBase, Leadlander (a marketing automation system I’ve never even heard of), and yes, first-place Marketo.

Marketing automation market share in the Alexa top 1,000 sites.

Above: Marketing automation market share in the Alexa top 100,000 sites.

Image Credit: Datanyze

This new information is from Datanyze, a company I’ve called the Google of sales and marketing for software-as-a-service technologies. Datanyze continually scans over 11 million of the world’s most-trafficked websites, looking for the little Javascript embeds and web tags that indicate the presence of an integrated SaaS technology — in this case a marketing automation system.

“We added a ‘Datanyze Universe’ option to our free Market Share data so that you can see the market share for companies for all of the websites we track,” Datanyze marketing head Jon Hearty told me via email.

The product’s not perfect yet. I noticed a few companies in the mix, such as VisualRevenue, that are misclassified as marketing automation solutions. But there’s real value here in being able to examine configurable slices of the market: 11 million global sites, or just the Alexa top 100.

Share in the top 1,000 sites. Ignore Visual Revenue, which is not a marketing automation solution.

Above: Share in the top 1,000 sites. Ignore Visual Revenue, which is not a marketing automation solution.

Image Credit: Datanyze

What it essentially does, beyond showing market penetration, is reveal company strategy and product focus.

Clearly, a company whose products are mostly adopted by large enterprises will have fewer overall installs just because there are fewer large companies than small.

Hence Marketo’s lead when you look at the top 100,000 sites on the Internet … since the largest sites tend to come from larger companies. And a company whose products are mostly adopted by smaller companies is more likely to have a larger number of installs.

That all correlates with what we know from VB’s 1,000-person marketing automation survey: seven to ten percent of Hubspot’s clients have annual revenue over $500 million, while the vast majority are under $25 million. And 25 percent or more of Eloqua’s clients have annual revenue of $500 million or more.

There are other interesting little quirks in the data.

For instance, Performable, a marketing automation system that Hubspot bought three years ago, still has active tags out there in customers’ sites. And that platforms which don’t get a lot of press, like Salesmanago out of Poland and LeadLander, whose website looks like 2004 wants to live on, are much more active than typically given credit for.

Leadlander not only beats out Hubspot for Alexa top 1,000 websites; it sits eighth among marketing automation solutions in the top 100,000 sites.

The new data is freely available from Datanyze.

Small Business Cash Flow Concerns Drop to Pre-recession Levels, According to the Spring American Express OPEN Small Business Monitor

NEW YORK--(BUSINESS WIRE)--Entrepreneurs remain confident about business prospects, but their top priority continues to be maintaining current sources of revenue. Cash flow concerns have fallen to pre-recession levels (49%, matching fall 2007 and down from a high of 66% in spring 2011). In addition, fewer business owners say they are “stressed-out” by the economy (56%, down from a high of 70% in spring 2011) and more feel confident in their ability to access the capital needed to grow their businesses (72%, the highest figure since the question was first asked in 2002).

“The recession’s silver lining is that small business owners have become more adept at navigating an uncertain economy, gaining valuable experience and putting it into practice along the way”

This spring, small business owners are on a better path to achieving their long-term goals. According to the American Express OPEN Small Business Monitor, 54% of small business owners say they are on track to save for the retirement they want (up significantly from 37% a year ago) and fewer (65%, down from 73% a year ago) are worried about setting aside the estimated average $1,170,000 they say they need for the retirement they want.

Small Business Growth Pursuits Are Well Within Reach Despite Economic Uncertainty

Regardless of the economic climate, growth plans are still in the cards, as:

  • Small business owner optimism is holding steady with more than half of them maintaining a positive outlook on business prospects (54%, unchanged from last spring)
  • Fewer say the economy has had a negative effect on their business and its survival is in jeopardy (13%, down from 18% last spring)
  • More than seven-in-ten plan to grow their businesses over the next six months (72% on par with 74% last spring)
  • More than half (55%, up slightly from 50% a year ago) of business owners plan to make capital investments over the next six months

“The recession’s silver lining is that small business owners have become more adept at navigating an uncertain economy, gaining valuable experience and putting it into practice along the way,” said Denise Pickett, president, American Express OPEN. “While they remain optimistic and confident in their ability to manage their businesses, entrepreneurs are realistic that challenges may arise and look beyond themselves – recognizing the importance of community and networking – understanding they do not have to go it alone.”

As they look to expand, small business owners report that they appreciate the importance of connecting with peers and becoming part of a like-minded community.

  • Eighty-one percent say they make it a priority to meet new people for their business
  • More than two-thirds of entrepreneurs (68%) say membership in a community of growth-focused business owners would be helpful in growing their businesses
  • Nearly four-in-ten (38%) say “connections”-- understanding the power of networking as a key to running a thriving business are most important to be able to grow

Hiring Flat, Productivity Up; Social Media Expert Trumps Accountant as Most Helpful New Hire

Examining the linkage between growth and hiring:

  • More than three-quarters of business owners (76%) say they hire as needed when the business grows, as opposed to hiring in order to grow the business (just 14%)
  • Hiring plans (35%) are on par with last spring (31%)
  • For those that are hiring, a social media expert is the most sought after position (12%, up from 9% in spring 2011), surpassing accountant/bookkeeper (11%, down from 14% in spring 2011)

With hiring lower on the priority list, business owners recognize the value of their current employees especially as they serve customers:

  • Nearly all (98%) say providing good customer service is essential to their business success
  • More than one-quarter (27%) say their business mantra is “you are only as good as your people” followed by “the customer is always right” (19%)
  • Three-quarters (75%) say they communicate openly with employees about the health of the business
  • Sixty-eight percent of business owners say the productivity of their workforce has increased over the last year (up from 60% last spring)

Social Media Usage on the Rise; But Many Find it a “Time-suck”

Business owners continue to look for cost effective ways to reach customers:

  • An increasing number are using social media for their business (58%, up from 46% last spring)
  • Among all entrepreneurs surveyed, more than four-in-ten (43%) say they plan to increase their company’s focus on social media over the next year
  • While nearly three-in-ten (29%) say social media has helped their business survive in a challenging economy, more than half (54%) find it to be a “time-suck” or a burden
  • Those entrepreneurs currently using social media use it for a variety of reasons including:
    • To attract new customers (66%)
    • Drive sales (49%)
    • Create customer dialogue (46%)
    • Gain insights from customers (41%)
    • Create communities where customers can talk to each other (29%)

The secret to true happiness? Ask an Entrepreneur

Significantly more business owners say they are:

  • “Very happy” with their lives (69%, up from 56% a year ago)
  • Women entrepreneurs are more likely to be “very happy” (73%, vs. 66% of men)
  • Overall eight-in-ten attribute their happiness entirely or somewhat to being an entrepreneur (80%, on par with 76% last spring)

Additional survey results including findings by industry, geography and gender are available by contacting Alex Della Rocca at 212-539-3203 or alexd@mbooth.com.

Survey Methodology American Express OPEN Small Business Monitor, released each spring and fall, is based on a nationally representative sample of 1150 small business owners/managers of companies with fewer than 100 employees. The anonymous survey was conducted via telephone by Ebiquity Research February 24-March 18, 2014. The poll has a margin of error of +/- 3.0%.