IU awards top Indiana businesses

The Johnson Center for Entrepreneurship and Innovation, a part of the Kelley School of Business, honored Indiana's leaders in Business at its Ninth Annual Growth 100 Awards Luncheon Thursday.\nThe presentation, which was held at the Ritz Charles in Carmel, Ind., gave awards to 75 businesses which are Indiana's fastest growing entrepreneurial companies with annual sales of over $1,000,000. All the companies also have achieved over 15 percent sale increase over the last two years. \n"Although the economy across the state and nation has not been strong, this year's 2002 Growth 100 awardees have an average annual sales of $16 million, with a growth rate averaging 45 percent," said Elizabeth J. Gatewood, director of the Johnson Center. "These entrepreneurial companies have a strong impact on the state, not only economically, but also through employment and \ncommunity development."\nThe Bloomington Hat World store was honored at the luncheon. \n"We've grown from one store to over 400 stores and it's mostly accredited to good employees," said Jon Glesing, director of Marketing for Hat World and IU alum.\nMany of these businesses, including Hat World, started out as the visions of everyday people, not high priced executives or established businessmen. \n"Two guys who were working at Foot Locker got the idea to start Hat World," Glesing said. "So, they got it all together and one of the things that got them started is they hired their old boss at Foot Locker to run their business. By putting trust into the right people, they were able to do what \nneeded to be done."\nJerry Lou Curry, president of Jerico Metal Specialties, Inc., said one can still hold onto small business practices even when expanding to a larger market. She said a business can thrive even without elaborate marketing.\n"On a regular, normal basis for the average person, particularly in a service business, I say that it's not about huge advertisements," Curry said. "But that you give the customer the product that is advertised, and not something else."\nDean Foster, president of Bloomington's Pro Winds and Copper Cup, and IU business school graduate, said his advice to students at the Kelley School of Business is to start working on an idea as soon as you get it.\n"If someone has an entrepreneurial idea in college, they should start working on it then," Foster said. "I began working on my business ideas while I was at IU and it gives you a head start when you get out."\nAlong with the honor of being awarded, being on the list only encourages these businesses to continue to grow. \n"This is great publicity for these businesses," said Growth 100 program director Susan Martin. "It really is an honor, but also can help the business continue to succeed."\nFor a complete list of all the Growth 100 winners, check out newsinfo.iu.edu/attachments/2002growth100.htm.