When Ailish M. Murphy founded MurTech Consulting in 2000, she could not have known that the events of Sept. 11 would send the economy into a recession. Not that she would have done much differently if she had.
Murphy’s insatiable entrepreneurial drive was coursing through her veins. More than 20 years ago, her parents started a catalog business selling Irish-themed products. Her brother owns a company that designs e-commerce Web sites. And her sister was recently incorporated as a merchandising analyst.
Given her family history, it’s no surprise that Murphy craved her own enterprise while selling various IT-related services for other companies. She eventually developed a business plan to start her own IT consulting and placement company, taking out a second mortgage to secure the necessary personal capital.
But when the terrorist attacks sent the economy into a recession, the market that Murphy hoped to establish her footing in essentially fell out from under her. Companies were laying off employees not hiring them so the entrepreneur was forced to re-evaluate the business model she had worked so hard to perfect. She didn’t hesitate, however, and adopted a lean approach while focusing on establishing relationships with various Fortune 1,000 companies across numerous business sectors. When the economic downturn reversed itself, MurTech was poised to receive business when all those contacts needed to place IT staff.
This approach paid off, and the company was recently named No. 8 on Entrepreneur Magazine’s list of the top 50 fastest-growing, women-led companies. MurTech’s annual revenue has quadrupled over the past three years, and Murphy’s original staff of three has since expanded to 120.
Murphy is currently assessing potential office expansions to markets outside of Cleveland and Akron, although nothing has yet been formalized. Whatever the future brings, the savvy entrepreneur has continued her family’s legacy while serving as a successful model should her children aspire to carry on the family tradition.
HOW TO REACH: MurTech Consulting, (216) 328-8580 or www.murtechconsulting.com