On Growth
Apply for the Second-Annual RCP/Rocket Award!
If your company has a great growth story that covers the past three years, we want to hear about it.
- By Mike Harvath
- May 12, 2014
What did your company achieve over a three-year period in terms of revenue, profit and other relevant metrics you deem appropriate? It's time for the second annual RCP/Rocket Award.
We are pleased to announce that for the second year Redmond Channel Partner magazine and Revenue Rocket will be sponsoring the RCP/Rocket Award.
The award will recognize and honor excellence in growth, and it will be awarded to up to three IT services companies whose innovative business strategies have resulted in sustained growth over a three-year period.
Last year the award went to three deserving companies: The Axis Group LLC in Berkeley Heights, N.J., Envision LLC in St. Louis, Mo., and Atlanta-based Intellinet Corp. You can read more about these companies and the winning strategies in the October 2013 issue (see "RCP Rocket Awards: Meet the Winners").
Entry Evaluation
The 2014 award is open to all U.S.-based IT services companies with annual revenues between $5 million and $75 million that provide a one- to two-page case study describing their business strategies and how they've resulted in growth over the past three years. Deadline for submissions is June 1, 2014.
All entries will be evaluated by a panel that includes me, Redmond Channel Partner Editor in Chief Scott Bekker and three other distinguished guests with hands-on experience in growing an IT services business.
The award will be evaluated on two key criteria:
First, the strategies: What unique combination of strategies did you employ to generate the results you achieved? This section will constitute three-quarters of the evaluation, as we're most interested in understanding what and how various strategies drove success.
Second, the results: What did your company achieve over a three-year period in terms of revenue, profit and other relevant metrics you deem appropriate? This will account for one-quarter of the evaluation.
Documented Growth
To be considered for the 2014 RCP/Rocket Excellence in Growth Award, companies must submit an essay, in case study format, that documents and supports your company's growth over the last three years: 2011, 2012 and 2013.
The format of the case study should include:
- Company Background: Describe how you're positioned and differentiated in the market in terms of vendor alignment, technology focus, geographic reach, vertical emphasis and so on.
- Strategic Initiatives: Identify the key strategic initiatives your company implemented and how they drove your business over this period. This could include mergers and acquisitions, geographic expansion, new service line offerings, sales and marketing programs, key hires, and so on.
- Performance: Describe your company's performance over this period, including revenue, profit and any other metrics that make your case.
- Lessons Learned: What have you learned as a result of this effort?
Hint: What stood out to me among last year's winners was how each company resolved to focus their business, in terms of technology set, verticals and strategic initiatives. Last year's winners were a testament to how effective focus can be in driving profitable growth.
Winner Announcement and Expectations
In addition to an award plaque, winners will also be the focus of an article in a future issue of Redmond Channel Partner magazine and have a donation made in their name to a charity of their choice. Please send your submissions to [email protected].
The winners will be announced during the Microsoft Worldwide Partner Conference in July. The winners' profiles will appear in the October 2014 issue of Redmond Channel Partner magazine.
Start thinking about getting your entries ready and good luck.
More Columns by Mike Harvath:
About the Author
Mike Harvath has spent his entire 30-year career advising partner companies on implementing winning growth strategies and facilitating mergers and acquisitions. As president and CEO of Revenue Rocket, he and his team have advised over 500 partner companies on reaching their growth goals.