With all apologies to a certain late 1980s New York-based movie, Consulting magazine's official position is "Growth is Good." There are the obvious reasons, of course, but there are also more subtle reasons growing firms are good firms. Growth stimulates change and creates opportunities for employees. In that sense, growth actually creates growth. We devote the lion's share of this issue to their stories. It all begins on Page 10.
In 2015, we launched a brand new award—Consulting's Fastest Growing Firms. The idea was to find a way to recognize the firms that are shaking up the industry from the bottom up. We decided it was time to focus squarely on revenue to compile a ranking of Consulting's Fastest Growing Firms.
With baseline growth rate of 10 percent as the qualifying metric, this year 65 consultancies are recognized as 2018's Fastest Growing Firms. And in typical Consulting magazine fashion, we upped the ante with a gala in 2016—an evening to recognize the extraordinary accomplishments of the profession's Fastest Growing Firms. We wanted to shine a light on the firms, their results and their impact because all too often they fly beneath the radar. Those evenings have been smashing successes. And we did it again—this time in Seattle—late last month. And what an evening it was!
These firms are the future, and they deserve to be noticed. We asked for revenue over a three-year period. To participate, firms needed to have at least $500,000 in revenue by Dec. 31 2014. The No. 1 ranked firm—Sandy, Utah-based Simplus—grew at an astounding 940 percent. Simplus beat out this year's No. 2 firm—and former No. 1 firm—Bellevue, Wash.-based RedCloud Consulting, which clocked in this year at 856 percent growth.
This year, the winning firms averaged 198 percent growth. Simply stunning. How did your firm's financial performance look over the last three years?
Joseph Kornik Publisher & Editor-in-Chief jkornik@alm.com
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