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To understand the impact of fast growth on Wooster-based TechniGraphics Inc., you have to travel back 10 years.
TechniGraphics was a prime contractor, providing digital mapping to federal agencies, but then it lost one contract and was too intimidated to compete with larger companies, says Dee Vaidya, TechniGraphics' president and CEO.
As a result, his company went from being a prime contractor to a subcontractor for five years, but found it difficult to be consistently profitable. Then, after Sept. 11, Vaidya found the courage to bid again, and TechniGraphics won a 10-year federal contract.
From 2004 to 2006, the company grew revenue from $10.8 million to nearly $30 million. Today, the company has nearly 400 employees with offices in the U.S., The Netherlands and India.
Looking ahead to when the federal contract ends, TechniGraphics has acquired three companies and is expanding into the three-dimensional CAD industry.
Smart Business spoke with Vaidya about how he recognizes a good deal.
Q: How can other CEOs grow their companies the way you've grown yours?
Even though a contract might seem so large you feel like, 'How are we ever going to win this? We better not even bid because it's just a waste of time,' you...