Wanted: Firms eyeing accelerated growth

Story excerpt provided by Crain’s Cleveland Business.

Written by Timothy Magaw.

Scalerator NEO, an intensive six-month bootcamp for established Northeast Ohio companies focused on rapidly increasing their growth rates, is accepting applicants for its second class — and it’s not for the faint of heart.

“It’s tough and challenging, and they don’t let the companies get off easy,” said Deborah Hoover, president and CEO of Burton D. Morgan Foundation, which along with the Richard J. Fasenmyer Foundation, covers the costs of the program. “It’s like going back to school.”

Hoover likens the program, which is geared toward a diverse set of companies with $5 million to $15 million in annual sales, to a “mini-MBA” that offers the “just-in time” learning business leaders need. Participants in the first cohort — a group that ranges from manufacturers, software companies to service providers — report coming away with detailed plans to achieve sales and profit growth, often in excess of 25% a year.

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Originally published October 28, 2017.

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