BUSINESS: Creator of nabi tablet
TWO-YEAR REVENUE GROWTH: 11,753 percent
2013 REVENUE: $189.1 million
Responses from Chief Executive Jim Mitchell:
What did you do to achieve the company’s growth?
We identified and defined a unique category of products – high technology for kids – and created a brand and solutions that catered to the needs of the new category. We created a go-to-market strategy – retail versus online – that leveraged retail partnerships to educate and introduce our products to consumers while creating a strong brand presence, and a strict pricing and cost structure. We focused on sales volume to increase the buying power of components to deliver a great value for the price.
How did you manage the growing workload? For example, did you have to add space or move into new facilities?
We created an ownership structure that made key employees owners; creating passion, empowerment and more output with fewer resources. We leveraged key partnerships with multibillion-dollar companies to lower resource requirements, and increase efficiency and speed to market.
What was the biggest challenge for your staff?
Scaling themselves and their teams while retaining our corporate culture, entrepreneurial innovation and willingness to take risks.
Do you plan on continuing a fast-growth path or has the time come to slow down a bit?
Our core strategy focuses on high growth through paradigm-shifting business models and focused solutions.
What’s the most important lesson you’ve learned over the last three years?
Stay humble and have clarity around the core strategies.
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