(PRWEB) September 13, 2013
There aren’t many situations in the business world where “The Underdog” wins. There is even less of a possibility of said underdog to win twice consecutively. Smith Monitoring® out of Dallas, Texas has taken that spot on the Inc. 5000 for two years in a row. There are many things to consider when speaking of companies that score spots on this prestigious and ambitious list of companies. There are even many things to keep in mind that keeps a company on this list.
What Is The Inc. 5000?
Introduced in 1982, The Inc. 5000 is an annual list of the 5000 fastest-growing private companies in the United States. It might sound familiar to the “Inc. 500” because it really is just an extension to that list. One might ask the question, “How’s this all figured out?” It is very simple and easily broken down. The list is ranked according to the percentage of annual growth in revenue over a four-year period. Something to consider is the time limit of said growth. If a company peaks high in its early years because of buzz and plenty of other “honeymoon phases” it wouldn’t be fair to consider just that. The list chose the span of four years because it understands that companies aren’t just about how a company starts, but also about how a business strides through a couple of years. Many things could be said as to how a company does this, but the real hardship is finding a model that not only gives investors a return, but also yields sustainability throughout years and years of constant growth.
How Did They Do It?
Now that it’s understandable what exactly Smith Monitoring® just did year after year, its possible to now ask another question, “What exactly did they do to reach such a stature entrepreneurship?” It’s established that the Inc.’s list doesn’t just consider volume and revenue; it’s based more on sustainability and constant growth. What can be praised for their growth in the great state of Texas? Yes, a lot of it has to do with their product (home-security), but in an industry that’s littered with armies of doorknockers and cold-callers, one can’t help but ask, “How did they do it?”
The owners of Smith Monitoring® understood home security as much as the other hard-hitting companies out there, but two things have allowed them to soar above so many older and veteran companies. Those two things are 1) Innovative Technology & 2) Company Culture.
1) Innovative Technology
Technology in the world is something that is constantly growing and changing. For a company to not utilize and take advantage of technology, it would be evident that said company would not be standing in 4-5 years. Just ask the Travel Agent. Smith Monitoring® is a company that has utilized modern technology to bring a new feel to home security. Smith’s smart panels, monitoring devices, and cameras prove themselves to stand above most companies unwilling to change their products. This virus of stubborn businesses that refuse to adapt to the change of the culture in technology has evidently had no authority at Smith Monitoring®.
2) Company Culture
It’s an easier “said than done” type of task to bring quality customer service to customers. It also goes for sales as well. When a company is dependent on sales representatives and a marketing staff, it is vital that those two heads of the staff get treated with utmost respect, love, and cherishing. The day of uniforms, light/smooth jazz playing in the hallways, and florescent lighting are all in the past at Smith Monitoring®. Alan Tuttle, a business development consultant with Trigger Marketing Group says, “When I had the opportunity to visit the home security company in Plano, Texas I was relieved to see a sales team that was one of the most energetic group of individuals I have ever seen in any company. When I met the marketing staff I was astounded by the amount of knowledge and structure that was put into making Smith Monitoring® one of the fastest growing home security companies in America.” This type of accolade, structure, and growth can easily be attributed to the kind of culture that the owners have cultivated over the past couple of years at Smith.
In the end, when growing a company and not only looking for high returns but also a sustainable model, it isn’t about doing just one thing right, or avoiding some huge dangers. It really is about covering every single base of the goals a company sets. Smith Monitoring® has made sure that none of their aspects of their company are struggling. They make sure that not only sales is a focus, but also marketing. They make sure that marketing doesn’t get the praise but also that the love is given to the service team. Ultimately striving for customer support that consistently proves to be near perfect has helped Smith the most. They are also listed in a review program called “Trust Pilot” with a strong rank of 5 stars. That doesn’t come easily or isn’t possible to manipulate. Trust Pilot remains one of the only rating programs out there that involve 100% real people that actually experience the product.
It’s a shame to see so many companies bite the dust when all that was needed to be done was create a culture that cultivates growth and adapt to technology that pushed Smith Monitoring® far above its competitors not only once, but for the second time in a row.