Recession? What Recession? The 89 companies that were recognized with a NEO Success Award on March 19, 2009 at Landerhaven have managed to not only to maintain their business but grow through these troubled economic times.
Inside Business magazine reports that the 89 companies had total 2008 revenue of $6.89 billion. That's a revenue growth (from 2006) of 32%.
They also had employee growth from 2006-2008 of 22.6%
That's not a surprise to Thomas N. Tyrell, founder of Glengary LLC. BusinessWeek describes Glengary LLC as follow:
Glengary LLC is a venture capital firm specializing in investments in seed, start up, and early stage companies. The firm seeks to invest in applied technologies, business services, consumer products, non-biomedical healthcare services and products, and software sectors. It prefers to invest in companies based in Northeast Ohio, but will also consider investments outside the Northeast Ohio region. The firm typically invests between $100,000 and $1.5 million. For larger investments, it will lead syndications with other co-investors. Glengary LLC was founded by Mr. Stephen R. Haynes and Mr. Thomas N. Tyrrell in 2002 and is headquartered in Cleveland, Ohio.
In his keynote presentation to the NEO Success winners, Mr. Tyrrell told of the different approaches toward regionalism from the proponents, agnostics and those who are 'part of the problem.'
Tom Tyrrell has been in Cleveland since 1986 but he still has an outsider's view. He told how his beloved Chicago White Sox style of playing small ball will work better in our region than the home run or strike out approach we have been using.
Besides losing the Home Run mentality, Tyrrell says we need to be more encouraging of business ventures that failed due to outside conditions. Failures are rewarded on the Coasts. He also suggested that many of the local power elite suffer from a Big Fish in a Small Pond syndrome and need to leave their egos at the door.
Though I can't agree with his White Sox praise (Go Tribe!), the other ideas make a lot of sense. Take a listen.
March 19, 2009
Listen to Thomas N. Tyrrell.
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