Loren O’Brien, CEO and founder of B&F Fastener Supply in Minneapolis, is one of two winners of the Upsize Growth Challenge 2010 because of his company’s ambitious growth goal: he wants to double in revenue in the next five to seven years, to $40 million.
Cover Story
The Fundamentalist
Kam Talebi, 41, CEO of Crave Restaurants, sits in one of his stylish new locations, in the West End development in St. Louis Park, where he was the first tenant to open in October 2009. Jackhammers blast away outside as workers rush to complete new storefronts for retailers finally moving in, many having backed off when the economy collapsed shortly after Crave’s lease was signed. With the lunch rush getting underway on a gorgeous June morning, Talebi (rhymes with PAL-a-bee) details why he believes that economic meltdown became the perfect opportunity for his $17 million company to start a nationwide expansion. The former technology company entrepreneur vows that fundamentals will guide his decisions, not the wow factor that restaurants, retail and real estate ventures too often chase.
20+10: Fresh ideas to jumpstart your year
So many good ideas, so little space. That’s what we thought at Upsize when considering which stories to include in this month’s cover feature about smart ways to improve your company this year. Then we counted the possibilities, came up with 30 (approximately) and our cover idea was born (20 tips +10 CEO lessons: Eureka! That’s 2010!) Try them all or just a few to invigorate your business.
20+ 10: Banking & Finance
Upsize has asked countless business owners, bankers, accountants and other financiers for their best advice on gaining credit, stretching cash, managing finances, boosting profits, generating revenue, and many more financial topics. Here are some of their most pertinent pieces of wisdom, collected from recent interviews and Upsize archives.
20+10
Bottom line must be everyone’s focus, not just accountant’s
20+10
Use down time to improve firm
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Dig deeper to boost profits, revenue
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ESOP offers way out for CEOs who missed sale
Boldly go
Jennifer Smith founded Innovative Office Solutions Inc. of Burnsville in 2001, just months before 9/11 torpedoed the market for office supplies and furniture. When her management team met last fall expecting another rough economic time, they decided to add people and technology, defying so many other CEOs who were halting and cutting. The results are in and they’re stunning.
‘I will survive’
“It’s ugly, very ugly. We’ve had some customers whose business is down 50 to 75 percent,” says Darlene Miller, president and CEO of the Burnsville-based manufacturer of precision parts Permac Industries Inc., when asked how her company is faring compared to this time last year.