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Ernst & Young selected some of the region's most innovative businesspeople to compete for the coveted title of Entrepreneur of the Year. Here’s how the dynamic local finalists built their companies—and positioned their firms for success.
What makes—and keeps—a company successful, even in the midst of the worst economic downturn since the Great Depression? That’s what you’re about to discover here in the stories of 34 great entrepreneurs. They’re all finalists in Ernst & Young’s Entrepreneur of the Year 2009 competition, which is structured as a regional competition leading to national and international award winners. In a nutshell, you’ll learn, leaders of successful companies start with a great idea at the right time, and the focused vision to turn the idea into reality. They have the ability to attract capital, as well as the discipline to be a hawk on expenses. They’re able to attract and retain excellent people, and they’re willing to work long hours—and then work some more. Along the way, they don’t shy away from taking calculated risks. Few know these things better than the judges of this year’s E&Y competition. They are: former JCPenney chairman and CEO Vanessa J. Castagna; Matrice Ellis-Kirk, a partner in the Dallas office of Heidrick & Struggles; Tim Golomb, managing director for The NASDAQ OMX Group; John M. Scott III, president and CEO of Rosewood Hotels & Resorts; Julie E. Silcox, managing director in charge of Citigroup’s Southwest Investment Banking Franchise; and Charlie Vogt, president and CEO of Genband. All the finalists—and the big winners—in E&Y’s Southwest Region North were scheduled to be honored June 27 at the Majestic Theater in Dallas. Avansic Inc. Gavin W. Manes, Ph.D. President and CEO When the time came to grow his company in 2007, Avansic president and CEO Gavin Manes didn’t accept the first offer of outside financing that came along. “It took almost seven months to find the right investors,” he says. “I wanted people willing to get involved. My two investors sit on the board, meet monthly, and constantly help with guidance.” As a digital forensics firm, Tulsa, Okla.- based Avansic enables civil litigators to preserve and produce electronic evidence at the center of lawsuits—for example, cases involving theft of intellectual property. Manes’ first challenge was selling to busy lawyers intent on billable hours, since cold-calling proved fruitless. “We solved that problem by providing continuing legal education certified by state bar associations, where we inform attorneys about rules and issues related to electronically-stored information,” says Manes, a former college professor with four patents in digital forensics. “We do it in the setting of education, which is easy for me and my colleagues who came from an educational setting.” Thanks to sage advice—and his investors’ $1 million capital infusion—Manes expanded on the educational marketing strategy and hired expert sales staff to manage client relationships. He credits this strategy with tripling the company’s revenue over the last year to nearly $1 million. |
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Copyright 2008 Avansic
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