Mindshare Named to the Utah Fast 50
Ranked 3rd Among the 50 fastest Growing Companies in Utah
There's no sensationalism when we say our first Fast 50 finishers bolted out of nowhere to become phenoms in their respective industries. What's their secret to success? Read closely and you'll notice more similarities besides skyrocketing revenues, such as taking a problem and finding how the solution could translate into revolutionary products and tools. Mixing that with innovative work environments and management methods have taken these small start-ups to the winner's circle in no time at all.
3. Mindshare Technologies
John Sperry, Mindshare CEO and Richard Hanks, president and chairman say General George Patton's philosophy of, "Violent execution of a good strategy will beat good execution of a great strategy every time," connects with their success. The team put it to work five years ago when they asked their 10-member staff to consider working without pay.
A strategy that could've been debatable as being good or great then, resulted in revenue growth more than eight times (733 percent) in three years and gaining Fortune 500 clients, (Marriott, Hertz, McDonald's Capital One, etc.) who are utilizing Mindshare Technology's business monitoring tools.
"Each employee decided to go without pay in hopes that the single large interested customer (Great Clips Hair Salons) would sign in time to get the company off the ground," says Hanks. "They signed three months later and asked if they could pay in advance."
Great Clips signed on for a technology that allows them to capture real-time customer feedback. Data is captured and transformed into targeted reports that can be pre-scheduled for automatic email delivery, and/or accessed 24/7 on the Web.
In October 2005, the company started paying back almost $850,000 in deferred salaries to the original staff that are still there, and now they've been entirely compensated. Additionally, Mindshare is producing more than $650,000 per month in reoccurring revenues, has 33 employees, zero debt and clients in more than 25 industries. "We collect surveys from 67 countries in 14 languages," says Sperry. "We're looking to build a long-term stable company, not a 'turn and flip.'"
Mindshare helps companies improve operational excellence, foster consumer satisfaction, build customer loyalty, and support employee retention. Our industry experts guide clients in building comprehensive Enterprise Feedback Management (EFM) solutions. Mindshare's proprietary survey technology captures the voice of the customer in real-time and immediately transforms it into actionable intelligence through powerful and incisive reporting. As a hosted system, Mindshare is affordable and flexible, providing automated surveys and reports tailored to each client’s specific needs. The reports are web-accessible 24/7 or by scheduled email delivery. Mindshare serves more than 25 different industries including travel, hospitality, restaurant, financial, salon, automotive, and retail. Clients range from small regional chains to large multinational corporations. For information, visit www.mshare.net.
