1. NU SKIN
Revenue in 2010 $1,540,000,000 Founded 1984 City Provo Employees 1,100 (in Utah) Industry Direct sales/Beauty Website www.nuskin.com Founder Blake Roney, 52; Steven J. Lund, 57; Sandie N. Tillotson, 53
The Company A direct sales company that sells skin, beauty and nutrition products.
The Success With unparalleled revenues, a 27-year history of standout leadership and an integral emphasis on being a “force for good” locally and abroad, Nu Skin has been and will continue to be an irreplaceable economic engine in Utah Valley.
The Milestone Moment “Our greatest milestone was the past year. We posted record revenue for the third straight year. We also celebrated feeding 200 million meals through our Nourish the Children initiative. We welcomed more people than ever before into the business. We set records with the launch of our revolutionary ageLOC skin care products. We announced our 700th career million-dollar earner. And we announced a new building in downtown Provo that we are very excited about. It was a great year.”
The Key to the Economy “Innovation.”
Best Part of Being High Revenue “Seeing all of the lives we have been able to impact for good. We operate in 51 markets worldwide, and we love hearing the stories from our distributors and employees about how their lives have improved because of their association with Nu Skin.”
Where to Splurge “We make sure we give our distributors and employees some WOW with their events. Making sure they are recognized is an important investment. In fact, our company vision is entirely based on this — we want to be the world’s leading direct selling company by generating more income for our distributors than any other company.”
The Advice “Find smart, good people and keep them by your side. When we were a young company, it was basically us against the world. Just about everyone thought we would fail. But we supported each other and made sure we all never quit on the same day. And then we welcomed other people who saw the vision and values of Nu Skin.”
2. VIVINT, INC.
Revenue in 2010 $217,782,000 Founded 1999 City Provo Employees 5,000 Industry Home automation Website www.vivint.com Founder Todd Pedersen, 42
The Company A home automation company with technology that enhances safety, convenience and energy efficiency.
The Growth Formerly known as APX Alarm, Vivint has re-branded its name and vision — but kept its impeccable growth. Its impressive market dominance is thanks to its first-rate technology, sales force and employees.
The Milestone Moment “Our employees take pride in what we do. People have built a career with us, and there’s nothing more rewarding than that.”
Where to Splurge “Your employees — no question. It’s the team that makes the company, and you have to take care of them.”
The Advice “Read ‘Atlas Shrugged.’ If people remember nothing else, remember this book. Everyone should read it.”
3. YOUNG LIVING ESSENTIAL OILS
Revenue in 2010 $162,012,318 Founded 1993 City Lehi Employees 473 Industry Direct sales/Health and wellness Website www.youngliving.com FOUNDERS Gary Young; Mary Young
The Company A direct sales company that sells essential oils and oil blends, oil-enhanced nutritional supplements, bath and body products, and skin-care solutions.
The Success Thanks to extensive product research, intense loyalty among employees and distributors, and a strong international presence, Young Living has soared to success in its impressive 18-year run.
The Milestone Moment “The successful expansion and continued rapid growth of our international marketplace,” says CEO Doug Nelson.
Best Part of Being High Revenue“The financial freedom to spread Young Living’s goodwill to the world.”
Worst Part of Being High Revenue “There’s always increasing pressure to raise the bar and exceed expectations after each success.”
Where to Splurge“Brand identification and brand promotion.”
Where to Save “Companies can save by avoiding distractions — some of which are worthy ventures — that don’t align with the core company philosophy.”
The Advice “Define your business vision, and then stay true to that vision through good times and bad.”
4. ONE ON ONE MARKETING, LLC
Revenue in 2010 $50,864,838 Founded 2002 City Lehi Employees 150 Industry Technology Website www.1on1.com Founder Nick Greer, 34
The CompanyA Web-based lead generation company focusing on education, insurance and security.
The Success Charmed with impeccable leadership, proven technology and a vibrant culture (“ping pong smack talk” is not unheard of), One on One Marketing has cornered its market with swish after swish.
The Milestone Moment “Getting upper management out of the way and letting others really make things happen.”
The Key to the Economy “We don’t view the economy as tough. We look for opportunities and take advantage of them as quickly as possible.”
Where to Splurge “Splurge on the people — your team. Build them up, allow them to take themselves to new heights and give them everything they possibly need. It’s not worth it to hold back. Help them find and discover themselves.”
Where to Save“Travel expenses and paper clips.”
The Advice “Create your core values (the team creates these — not just one individual). Find those who believe in the same core values and never back down or compromise.”
5. BIG-D CONSTRUCTION
Revenue in 2010 $48,022,058 Founded 2005 City Lindon Employees 14 Industry Commercial construction Website www.big-d.com Vice President Greg Fix, 37
The Company A construction management and design-build services company.
The SuccessBuilt with determination, willpower and integrity, Big-D has become an undeniable force in Utah Valley’s commercial construction market with projects ranging from under $1 million to more than $100 million.
The Key to the Economy “Optimism.”
The Advice “Slow and steady wins the race.”
6. BANK OF AMERICAN FORK
American Fork Employees 270 Industry Banking Website www.bankaf.com
CEO Richard Beard, 58
The Company A community bank with 12 branches in Utah and Salt Lake counties and a loan office in Layton.
The SuccessWith an unquestionable emphasis on the customer, community and employees, Bank of American Fork has become the largest community bank in Utah — and one of the most influential.
The Milestone Moment“Emerging from the great recession with our customers, our communities and our bank in tact. The fact that the bank is the largest community bank in Utah validates that Utahns really do want and will support community banks. Utahns are educated and discerning consumers of financial products. They don’t want out-of-state control of their financial life, and they value customer service on a local level.”
Key to the Economy “Companies should focus on the old-fashioned virtues of putting the customer first, being honest and caring about the community.”
Best Part of Being High Revenue “It allows you the freedom to pursue alternatives and to give back to the community.”
Worst Part of Being High Revenue “If not managed right, it can become the only metric of significance.”
Where to Splurge “Splurge on customer service and employees. When customers and employees are happy it will be reflected in the performance of the company.”
Where to Save“By cutting luxuries and perks for top management.”
The Advice“Develop values and stick with them, particularly in tough times.”
7. HADCO CONSTRUCTION
Revenue in 2010 $40,816,681 Founded 1989 City Lehi Employees 231 Industry Construction Website www.hadcoconstruction.com Founder John D. Hadfield, 42
The Company A civil construction/earthwork/excavation contractor.
The Success Thanks to the most loyal of customers and the most hardworking of employees, Hadco Construction has managed to grow 30 percent in the past three years — which is no easy feat in the construction industry.
The Milestone Moment “Changing from a residential contractor to a heavy highway contractor.”
Key to the Economy “Never give up.”
Best Part of Being High Revenue“It enables you to meet lots of people and customers.”
Where to Splurge“Pay your top people well.”
Where to Save “On the fru-fru perks.”
The Advice “Make sure the growth has purpose. Don’t just grow to grow.”
8. VITALSMARTS
Revenue in 2010 $32,290,660 Founded 2001 City Provo Employees 88 Industry Corporate training Website www.vitalsmarts.com Founders Joseph Grenny, 50; Kerry Patterson, 64; Al Switzler, 61; Ron McMillan, 59; Mike Carter, 51
The Company A corporate training and organizational performance company.
The SuccessWith bestselling books (including “Crucial Conversations”), experience with more than 300 of the Fortune 500 companies and 30-plus years of ongoing research, the principles VitalSmarts espouses have been economy-proof.
The Milestone Moment “For most people, milestones come in the form of revenue targets per month or a related business number. However, a great milestone has been overhearing someone in the local community tell a friend about an important benefit they gained from one of our books or trainings. We have hundreds of thousands of users worldwide, so it has been extremely gratifying to see our material is widespread enough to circle back to our own neighborhood.”
Key to the Economy “At the end of 2008, when no one could see two weeks in advance to predict or strategize, we thought about doing what a number of companies did at that time, play defense — cut this, drop that, etc. We then thought better and decided to play offense. We clarified new strategies and budgeted them such that we could quickly drop them if they didn’t work. All but one strategy worked — which made 2009 and 2010 successful years of growth.”
Best Part of Being High Revenue “It is great to know we are able to bless the lives of a growing number of people each year as we grow our company, since our content greatly aids both individuals and organizations in accomplishing their goals. We feel so fortunate to have grown our business so much during a tough economy.”
Where to Splurge “Companies should invest in that which will help them achieve their corporate objectives. Oftentimes, when times get tough, companies cut corporate training. However, through research we have found training is an investment rather than an expense.”
The Advice “We worked hard to have products that are not commodities. We also worked to make sure the content of our training was seen as ‘crucial’ or mission-critical solutions to multiple problems. When our clients experience tough times, we’re fortunate to be seen as a solution rather than something to cut.”
9. KS MARKETING
Revenue in 2010 $28,816,904 Founded 2007 City Pleasant Grove Employees 25 Industry Scrapbook/Crafting Website www.ksmarketinginc.com Founder Kory A. Boyd, 33
The Company A seller of retail and wholesale products primarily in the craft industries.
The Success BusinessQ’s No. 1 Fastest-Growing company last year (and a “Startup to Watch” the year before that), KS Marketing has shown no signs of slowing down — thanks to a strong team, great products and game-changing alliances.
The Milestone Moment “Achieving a $5-million sales month in November 2010.”
The Key to the Economy “Perseverance through any condition, making conservative and well-thought-out financial decisions, and constantly looking for new ideas and ways of improving our business.”
Best Part of Being High Revenue“The added job security for myself and our employees.”
Worst Part of Being High Revenue “Having to address so many more issues/problems that weren’t present as a smaller company.”
Where
to
Splurge “Splurge on things the company has a passion about — and things that truly set yourself apart from others. Also, splurge on getting the right people to your company.”
Where
to
Save“Save on things such as facilities and equipment — you don’t always have to buy everything new for it to work just fine.”
The
Advice “Take the time to fully evaluate your situation and then act quickly on your evaluation. Always have an eye open to the next opportunity, and be ready for the ups and downs.”
10. AMP SECURITY
Revenue
in
2010
$27,984,505 Founded 2007 City Orem Employees
600 Industry
Home security Website www.ampsecurity.com Founder Allen Bolen, 35
The
Company A home security company with a marketing niche in door-to-door sales.
The
SuccessWith enviable market timing and momentum, 4-year-old AMP has quickly risen to become a top force in a most competitive industry.
The
Milestone
Moment “I believe in grindstone mentality more than a milestones perspective. Grinding it out takes longer, but it’s the surer path. If you wait for big breaks, you may be left waiting.”
The
Key
to
the
Economy “Focus on the benefits of a tough economy. For instance, a tough employment market increases the supply of talented people for key positions.”
Best
Part
of
Being
High
Revenue“Being able to boost momentum — the key to success.”
Worst
Part
of
Being
High
Revenue “Growing to a point where I can’t do everything myself.”
The
Advice “It’s crucial to focus on strong sales and support personnel. Treat your sales reps like customers.”
The Top Revenue list is selected from a group of applicants and ranked based on their 2010 gross revenue. The 2010 gross revenue figure has been verified by BusinessQ and is accurate as of March 1, 2011. BusinessQ disclaims any responsibility for companies that did not apply.