Company Name: 2it Consulting
Smart50 rank: 46
Revenue: $1,598,894
Growth: 39.51%
Founders: Matthew Meszaros, 38; David Clarke, 40
Based: New South Wales
Employees: 12
Industry: Information technology
Website: www.2it.com.au
In 2006 Matthew Meszaros, 38 and David Clarke, 40 founded 2it Consulting, a human resources consultancy firm which offers recruitment planning to the IT sector.
Since then the company has seen growth of 39%, reporting revenue of $1.5 million in 2008-09.
Meszaros attributes their success so far with positivity.
"I think an important characteristic you have to have is optimism. If you can get up, dust yourself off and put on a grin, then that says a lot to everyone around you. In a smaller environment everyone knows what's going on, you drive the sentiment."
But he does warn against foolhardy optimism. "Of course you can't have blind optimism either, in consulting you are the core proposition, that's when professionalism, focus and quality really need to radiate as the mantra."
Meszaros reveals it hasn't all been smooth sailing.
"In our third year we put on a number of staff and hit a stage where we had to make a lot of investment into the business in systems and process. We also went to a monthly Business Activity Statement and hit the payroll tax threshold, all adding extra reporting burden and all meaning managing cashflow was a daily event. The biggest learning exercise was in time management, it is critical, you need to be able to juggle actions and responsibilities, re-prioritise but also focus on revenue, it all comes down to revenue."
Meszaros has seen the industry change considerably since starting 2it, with the industry segmenting into two key fragments.
"The recruitment industry is segregating between the very large volume players where there is very little value add and low margin, and then small boutique plays where there is a high level of specialisation which requires a depth of understanding and market intelligence."
While the downturn has had an impact on revenue as well as access to growth capital, Meszaros sees the present market as a unique opportunity for growth.
"As the broader disruption has really impacted our largest competitors this has provided an opportunity to identify customers who are not being properly serviced."
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