Despite the economic recession, 144 Michigan companies, including 89 from the Detroit area, have been named among the fastest growing companies by Inc, a magazine dedicated to entrepreneurs and business owners. The magazine celebrates 5,000 companies and includes Rochester Hills businesses DGE, TTi Global and Aleva Stores.
The 2012 list, featuring 25 industries across the United States, took into account the revenue increases over the past three years of U.S.-based, privately held, for profit and independent companies, according to a release by Inc. The minimum revenue requirement for companies to make the list in 2008 was $100,000, but since 2011 the requirement has changed to $2 million.
Local company DGE, ranked 49 in Detroit, an electrical engineering design and consulting services company, provide to OEMs and auto tier suppliers. Established in 1984, DGE began producing automotive parts, changing their path to the automotive electronics industry in 2004 in order to provide speciality products and services.
This step put them in the right direction towards success, as they made Inc.’s list of the Fastest Growing Companies three times in the past four years.
“It’s important to focus on your strengths, proving to customers that you have a distinguished product they can’t get anywhere else,” said DGE’s COO Stephan Tarnutzer.
According to Tarnutzer, making the list isn’t necessarily the company’s goal, but rather something to make them work harder and achieve more each year; the company’s main goal is providing the products customers are looking for.
Technical Training Inc. Global, formed in 1976, originally focused on technology manuals and training programs. According to their website, the company moved to Rochester Hills in 1984 and has been expanding internationally ever since. Ranked 30 in Detroit, TTi now has offices in China, Japan, Thailand, Mexico, Brazil, Chile, Venezuela, Europe and the Middle East.
The company applies to the list every year and is proud to receive acknowledgement for their rapid growth. According to TTi Global Marketing Manager Kevin Dever, companies wanting to make the list and become fast-growing should be customer-focused, innovative, trustworthy, adaptable and driven.
“(Growth) provides opportunities for the team to step outside their existing role and reach out and learn new things and develop additional career paths,” Dever said. “Growth is good as long as you can still deliver on customer requirements effectively with the same level of quality.”
Another company making the list, Aleva Stores, ranked 59 in Detroit, has a longer history. Originally formed as American Orthopedic Services in 1957, the company started out with prosthetics manufacturing and medical needs assistance.
Today, the company sells online in addition to in stores. The original store in Pontiac is still open today, with another one opening soon in Rochester.
Inc.’s list contains 5000 companies, 89 of which are located in the metro Detroit area, including the three Rochester companies.
Based on sales, number of employees and business success, the list encourages entrepreneurs to succeed and continue towards further company improvement.