Slow and steady doesn't just win the race. It also builds a successful company. That's Jim Hume's opinion.
The principal of Phire Group
preaches deliberate and modest growth as the smart way to grow a company. It's been the secret sauce for his own full-service marketing firm.
"We have been fortunate to grow at a consistent, steady pace," Hume says. "That's unusual for marketing firms that are usually boom or bust."
The downtown Ann Arbor-based company takes a longterm approach with its clients and avoids churn and burn work. Treating its long-term clients well produces more referral work and increased workload with existing clients. For instance, it started doing project work with MASCO Cabinetry
and is now its agency of record for some of its brands.
"That growth has been slow and steady over the years," Hume says.
That enabled Phire Group to hire three people over the last year, including positions in public relations, web development and strategy. It now has a staff of 20 employees and one intern. Hume plans to add a handful more people over the next year. All of it part of the company’s slow and steady growth plan.
Source: Jim Hume, principal of Phire Group
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.