IT SEEMS like people are becoming successful faster these days. The Forbes list of young CEO billionaires is enough to make most of us feel we should be getting richer, quicker. But how do these young whipper-snappers get there so fast?
Iain Martin, the 43 year-old chief executive of the fast growing Moonpig.com (see rankings right), thinks the route to the top can be found in expanding companies. “We have a culture we like to foster at Moonpig, so we prefer to recruit by promotion from within,” he explains. “The company employed someone to answer the phones when Moonpig first started, now she’s the marketing director – that’s phenomenal career progression.” And that isn’t Martin’s only example. His previous marketing manager left to head up Moonpig’s Australian office.
GAPS IN THE RECRUITMENT MARKET
Andy Bristow, a manager at the recruitment consultant Hays, says the candidates he speaks to are certainly interested in being in a fast-growing company, but few are willing to move if the pay offered wasn’t competitive: “Small companies are up against corporates for talent.”
Nick Stevens, a recruitment consultant at the fast-growing firm Eximius Group, adds that candidates are often reluctant to consider lower position and pay.
Martin says he accepted that he needed to take a pay cut to get to where he wanted to be. He joined Moonpig as a commercial director, but for lower pay than his previous job at Hallmark cards. He became chief executive last year after the founder moved on to become chairman.
“A lot of careers happen by accident, things just sort of pop up, but my move to Moonpig was entirely planned.” Martin wanted to work for an entrepreneurial, digital business and progress faster. “I wrote to Nick [the then chief executive] and expressed my interest when I was working at Hallmark. Amazingly, he met with me despite not having a job to offer. We stayed in touch and a year later, he brought me in.”
LOOKING FOR INSPIRATION
Moving to Moonpig was the logical choice for Martin since he had worked in the card business. But where can the rest of us look? We’ve listed London’s fast-growing companies on the right to give you some inspiration.
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LONDON’S FASTEST GROWING PRIVATE COMPANIES BY SALES
1. Your Golf Travel, a golf travel agency. Annual sales growth 158.06 per cent.
2. Pathology Group, recruitment consultancy. Annual sales growth 151.89 per cent.
3. Power Perfector, energy device distributor. Annual sales growth 140.01 per cent.
4. Moonpig.com, online greeting card retailer. Annual sales growth 115.51 per cent.
5. Green Park, recruitment consultancy. Annual sales growth 112.62 per cent.
6. BullionVault.com, gold dealer. Annual sales growth 105.87 per cent.
7. Miroma, media barter company. Annual sales growth 95.55 per cent.
8. Fjoed, digital design consultancy. Annual sales growth 89.50 per cent.
9. Ship Shape Resources, construction services. Annual sales growth 89.21 per cent.
10. Natural Products, giftware designer. Annual sales growth 83.51 per cent.
Source: The Sunday Times Fast Track 100
LONDON’S FASTEST GROWING PRIVATE COMPANIES BY PROFITS
1. Power Perfector, energy-saving device distributor. Annual profit growth 157.45 per cent.
2. Moonpig.com, online greeting card retailer. Annual profit growth 149.79 per cent.
3. Liquid Capital, financial services provider. Annual profit growth 142.24 per cent.
4. UPP, university accomodation provider. Annual profit growth 125.01 per cent.
5. Charles Tyrwhitt Shirts, shirtmaker. Annual profit growth 105.54 per cent.
6. Cath Kidston, lifestyle retailer. Annual profit growth 91.16 per cent.
7. Skrill, online payment provider. Annual profit growth 88.53 per cent.
8. Cheapflights Media, price comparison website. Annual profit growth 82.97 per cent.
9. Sun Mark, consumer products distributor. Annual profit growth 77.42 per cent.
10. Regent Gas, gas supplier. Annual profit growth 62.24 per cent.
Source: The Sunday Times Profit Track 100