In consulting, mergers can be dicey. In a game of hit and miss, there's plenty of misses. But with TayganPoint, merging two smaller firms was definitely a hit. The firm was formed three years ago when Taygan Consulting and VantagePoint Consulting Group joined forces.
"It's a great story of where 'one plus one equals three' " says John Cassimatis, Executive Vice President and co-founder of TayganPoint. Meanwhile, Joy Taylor, CEO and co-founder, says it works because the two firms had plenty in common. "If you had met us separately, we would've looked very much alike," she says. "We were both about $2.5 million, about 12 to 15 people and served the same type of clients."
So, when they came together in the fall of 2009, amid a terrible economic climate, it didn't take long for them to figure out they were onto something pretty special. "All of our clients were going through changes and we sort of hit it at the right place at the right time," Taylor says. "We were in a target-rich environment for organizations trying to find ways to maximize their resources and TayganPoint does just that."
At that point in the economy, Cassimatis says there was a premium on execution and "we've sort of ridden that wave, and it's been great to watch the company grow and develop, and we expect it to continue."
Last year, the Lambertville, N.J.-based firm grew to 40 people and increased its revenue 54 percent. This year, it's looking to add another 15 consultants and is anticipating another 25 percent revenue jump.
To keep the momentum going, Cassimatis says the firm will likely be opening additional offices, perhaps in Boston or Washington D.C. Most of its key clients—Merck, Johnson & Johnson, T. Rowe Price and John Hancock—are in the Northeast corridor. Growth could also come with small, targeted additions, he says. Those firms that "looked like we did when we came together" back in 2009.
"Our goal is to be $50 million in five years," he says. "Once you're on the growth path it's sort of addicting. You want to keep it up and it becomes more about how do you attract good people to continue the growth. And, we really believe that level of growth is what we need to compete in the marketplace, as well as attract the best people to our firm."
Those people they attract tend to be experienced consultants from big-name firms who want to be more regionally based, Taylor says. "With us, clients are getting amazing experience, tenure and talent."
And the leadership is pretty impressive, too. Taylor was recently recognized as one of New Jersey's Top 50 Female Executives and is a certified Black Belt in Six Sigma. The firm, meanwhile, has been recognized as one of New Jersey's Top 50 fastest growing companies and as a Women's Business Enterprise National Council certified diversity supplier.
Despite all the recognition, Taylor says TayganPoint is still one of the profession's best-kept secrets. "But, of course, we'd like to change all that."
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