15. Weatherhead 100
Year founded: 1987
Sales growth: 200.26%
CEO: Patricia Miller
Founded in 1987, SpaceBound is a global tech distribution company. It’s the parent company of Galactics.com, BargainStation.com, SQRsolutions.com, NothingButSoftware.com, PricePlunge.com and XSDepot.com.
SpaceBound Inc. began in 1987 as the brainchild of two struggling college students who needed a quick money fix.
Fast forward 25 years and the global technology distribution company has grown from an original line of 75 software products to more than 70,000 and is projected to process more than 720,000 orders by year’s end. In addition, it added seven new team members this year alone, bringing its total to 45 employees and increasing gross revenue by 65 percent.
SpaceBound offers high-end information technology products and storage solutions, small electronics and gadgets, software media and downloads and everyday home and office technology products and solutions. It does this within the business-to-consumer sector through Galactics.com, BargainStation.com, NothingButSoftware.com and PricePlunge.com and business-to-business and reseller sectors through XSDepot.com and SQRsolutions.com.
So what is SpaceBound’s secret to success?
“We know our value-added proposition and measure it frequently,” says CEO Patricia Miller. “During downturns in the economy, we’ve paid attention and reflected on what worked and what failed during similar times in our business’ history.”
Often, entrepreneurs become so immersed in just trying to get through each day that assigning a value to reflection and personal and company growth is placed at the bottom of the list, she says. But at SpaceBound, that couldn’t be further from the truth.
“We listen to our customers and our employees, park our egos and listen to those we trust, to those who have the answers and have been where we are headed or who can take us to where we want to go,” Miller says. “Relationships are everything; every introduction may open a door to 10 more possibilities we may not have considered.”
Because SpaceBound realizes the importance of relationships, it focuses on creating the best possible customer experience, allowing it to stand apart from its competition. SpaceBound offers live customer service agents to help its customers with any portion of their purchase, a live chat function on the websites for quick and easy communication, a live tech support department and advertised 800 numbers ensuring the customer never foots the bill.
But not all of what makes SpaceBound great can be seen on the outside. Internally, SpaceBound challenges its employees to become involved with organizations beyond the office. For example, SpaceBound employees work with the National Federation of Independent Business, knowing it's a great way to stay on top of what is happening with, and to, small businesses.
The company also encourages volunteerism.
“Chairing the first Walk for the Homeless in Lorain County, working monthly with the children of the Haven Homeless Center and adopting two platoons every year and providing for all of their basic requests until they return stateside are what bring the most pride and joy to SpaceBound,” Miller says.
In the coming year, SpaceBound faces big challenges, including a sagging economy and fears of another economic downturn. The company, however, plans to invest time and resources into growing SQRsolutions, its government and education division, and branding and expanding its daily deal site, PricePlunge.com.
“We will also be breaking ground in 2013 with the addition of 30,000 square feet to our LaGrange facility,” Miller says. “We are fortunate to have an amazing partnership with our banking institution, JP Morgan Chase, and that relationship has also assisted us in growing business at a record pace.”
SpaceBound has received many accolades, including a continued A+ rating with the Better Business Bureau and a third-time national recipient of the Inc. 5000 Award. However, being named a “Weatherhead 100” company is one of the greatest honors for SpaceBound, Miller says.
“It means SpaceBound is doing an amazing and noteworthy job and should celebrate its success,” she says. “Let’s be honest, if you have a business in Northeast Ohio, you want to be a part of the Weatherhead 100 at least once in your company’s career and point with pride and say, ‘That’s us; we built that.’ The Weatherhead 100 gives you the opportunity to do just that and share your success.”
How to reach: SpaceBound Inc., (800) 755-4619 or www.spacebound.com