One of our clients is asking for general research on Business Owners/Financial Decision Makers with company revenue between $20MM-$100MM annually.
Ajeet Singh, Shay Hughes, Kris Maynard, Jason Fried, Danny Meyer, Travis Boersma, Mark Josephson, and Ted Castle are financial decision makers of companies with a revenue between $20MM-$100MM annually. The research is focused on how these executives make the decision, their key strategies towards decision-making, and other relevant information.
The search-driven business intelligence software company – Thoughtspot based in Palo Alto, California, co-founded in 2012 by Chief Executive Ajeet Singh. The company does not release revenues publicly, though it has raised $100 million in venture capital from its investors. Thoughtspot has grown rapidly to 130 employees in a very short period. Ajeet infers strategic management approach for setting long-term goals and objectives based on where he wants to see his company in the future. In order to attract the best talent, Ajeet Singh offered top-notch perks and benefits to their engineering staff. He wanted to retain the best talent for the long run and decided to pay all health care premiums at 100% to fully reimburse for co-pays, deductibles, and prescription costs. Ajeet believes that a company’s most precious asset is its human capital. To maintain a high retention rate, he established a policy for company employees to get reimbursed for co-pays and deductibles through individual health reimbursement accounts.
Hughes Marino founded in 2011, headquartered in San Diego, California, USA. The company generates $37.6 million revenue annually. Shay Hughes is president, COO, and owner of Hughes Marino. Shay oversees all aspects of business operations, including brokerage and project management services, internal operations, human resources, marketing communications, and expansion strategy. She is a true visionary person. The creative and inspiring spaces designed by Shay have been featured in numerous design publications. Shay believes that a company’s culture is more important than dollars and cents. Shay works closely with the project teams to execute her vision and design all of Hughes Marino’s offices. Her enthusiasm for business is matched only by her flawless eye for design. She is so influenced in her approach towards company culture which has recharged the firm and its employees.
Shake Shack is founded by Danny Meyer in 2004. It is a New York-based Restaurant company. The company generates revenue of $91.3 million annually. Meyer has been a trendsetter in dining out services since opening his first location, the Union Square Cafe in New York City, in 1985. His ideas in food, service, and hospitality have become trends and won his restaurants and chefs many culinary awards. Danny is known for implying unique policies since he banned smoking at New York's Union Square Cafe 12 years ago. He believes in consensus-based decision-making where decisions are reached with a cross-functional team. He recently introduced a no-tipping policy which is aimed at the pay discrimination between front-end employees like waiters and the back-end staff like chefs, cooks, and dishwashers. Meyer says, he's found that the front of the house staff sometimes makes 300% more than the kitchen staff. He has also increased the base pay of servers and kitchen staff to balance out the compensations.
Kris Maynard is the CEO and Chairman of the Board of Directors of Essential Ingredients. Kris Maynard co-founded Essential Ingredients in 1996. He always acts helpful to shape a work environment that provides a pathway for employees to utilize their talent. Kris always struggles to build the organization by managing the brand, helping company employees and applying strategic decision-making approach. He is a creative and passionate person and always strives to build personal relationships with customers and suppliers to understand their business needs and explore innovative ways to help them be more satisfied.
Basecamp originally called 37signals was co-founded by Jason Fried in 1999. The company generates revenue of more than $25 million annually. Jason keeps things pretty transparent and spawns no real to-do lists, no multiple monitors, no alarm clock. He says that just a clear focus during the day will be enough to sustain work-life balance. He keeps customer’s need ahead of everything for better results and believes that in order to compete at a high level in the marketplace, many of day-to-day decisions will have to take into consideration for the strategic brand-management goals. Jason further added that quality employees are the key to a company’s success. Creating a strategic plan to attract and retain a high-quality workforce will impact decision-making processes.
Dutch Bros co-founded by Travis Boersma and has annual revenue of $77 million. Travis believes that measurement is the key to making the right decision at the right time. The company recently implemented Mobivity's SmartMessenger technology to manage local and national SMS marketing programs. The decision was based on the remarkable success of the product within the business vertical. Company’s executive team was impressed by the personalization and data capabilities of the app. He says that the technology will allow them to make better decisions for the company in the long run. His experience and strategic decision-making approach conclude that any time you consider adding a new product or service, you must consider the effect it will have on your customers and staff. He further adds that our future is dependent on mistakes which can shape our lives in positive or negative ways. Mistakes are always happening; there’s no way to avoid them. In early days of the company, he often gets frustrated if there is a large gap between the targets and results. Though, he was able to control his thoughts and emotions and always strive to do his best which curved things in a positively and create opportunities to learn and grow.
Bitly is a link management platform, founded in 2008. Bitly earned revenues of $20 million in 2016 and the total funding amount of the company is $94.4 million annually. When Mark Josephson took over as the boss of Bitly in July 2013, the company was growing quickly but there was no real coordinated decision-making on how to make money. Mark applied consensus-based decision-making by tracking how people are using different devices and online marketing platforms in a day. He looked closely at the three technology giants (Apple, Google, and Facebook) and their advertising products. Mark’s strategic management approach the company turned profitable in 2015 and saw 40 to 50% year-on-year revenue growth last year.
Rhino Food (began as a small ice cream shop) is based in Burlington, Vermont. Annual revenue of Rhino Foods is more than $50 million. The company was founded by Ted Castle in 1981. Ted is always passionate to bring positive social change through business. As a privately held business, he emphasized on long-term financial growth in order to invest in his customers, employees, and community. He believes that every business owner has a passion that is the driving factor of great motivation. When making a financial decision, the lowest cost or highest profit will not be the sole determining factor for Ted, using strategic decision-making. His decision-making approach addresses the daily challenges of reducing risks and leveraging more and more opportunities.
In conclusion, I have found a number of profiles of Business Owners, CEOs, or Key Decision Makers of US companies with revenue between $20MM-$100MM annually. These Business Owners do not rely on their gut instinct only to make a decision for their business. They always assess their customers’ needs, market trends, or related factors for consensus-based decision-making. These firms and senior executives use the best suitable approach to set strategic goals. They evaluate the data, consider the privilege of choices, consult with relevant bodies and finally frame the suitable decision.