Growth Rate: 560%
OpenArc is a consulting firm helping clients and candidates gain a competitive advantage through the use of cutting edge technology and talent practices. “Our organization is comprised of three primary technology services: talent, software and strategy,” says Joel Reed, CEO of OpenArc. “Our strategy service ensures we build the right thing, while our software development team guarantees that your solution is built right. Our talent practice guarantees that we build both your product and your team with the right people.”
The firm posted an extraordinary 560 percent growth rate, landing it at No. 7 on Consulting’s Fastest Growing Firms list. Reed sat down to discuss OpenArc’s outstanding performance.
Consulting: What were the main factors that contributed to your exceptional growth?
Reed: First and foremost, our rapid growth is driven by an excellent sales team, word of mouth, and customer referrals. Doing what we said we would do is always Job #1, so we focused on delivering results for our customers and on building strong relationships with those customers. Doing great work has literally become its own reward!
Consulting: How is 2015 shaping up for your firm?
Reed: We’re thrilled to report that our growth continued this year: we more than doubled our revenue, and our plans and processes to handle growth are starting to yield results.
Consulting: How would you describe your firm’s outlook for 2016? Where do you see the most opportunities?
Reed: We just completed our annual business planning retreat, and we are excited to see the fruit of many seeds we planted in 2015. We brought in new senior leaders, invested in leadership development across the company, and made a big investment in marketing and channel partnerships.
Consulting: What do you see as the biggest challenges for your firm in 2016?
Reed: Every consulting firm in our position eventually has to tackle the challenge of moving from the ‘just trying to survive’ stage to the ‘building on our success’ stage. You’ve proven your ability to attract, serve, and retain customers, to manage revenue and expenses, and to develop talent. Building on that success, however, and continuing your pattern of growth takes a very different set of leadership skills. You need a management team that is adept at operational and strategic planning, as well as scalable systems and processes and the ability to meet the financing demands that come with continued rapid growth. It’s also crucial at this time that you not lose track of the quality of delivery and the culture of your organization. This is the road ahead for us in 2016—to build on our success while not losing sight of how we got here.
Consulting: What does being named one of Consulting’ s Fastest Growing Firms mean to your firm, your employees and your clients?
Reed: For a consulting company, it’s really about relationships and excellence of execution, and we pride ourselves on the measurement of those things as a hallmark of OpenArc customer service. We’re nothing without our team and our client partners, so an honor like this is humbling. It’s also exciting to see the response from our peers. It’s incredibly encouraging of the values that we hold central to our success.