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Business is a blur in the expedited shipping industry. Andy Clarke, president and CEO of Panther Expedited Services Inc., says it's not unusual for his employees to receive a 90-second phone call, then have 90 minutes to make a pickup.
It's challenging enough to keep up in such a fast-paced industry, but Panther isn't just keeping up it's growing and growing fast.
The 350-employee company increased its revenue to $170.4 million in 2006, a steep increase from $84.8 million in 2002.
As the expedited shipping business has evolved, Panther has changed to meet its customers' needs.
When customers wanted defined delivery times, it was added to the menu. When security was a concern for high-value cargo, Panther added security services. When air freight became a customer need, Panther bought an air freight business to expand its capabilities.
Clarke says all industries have to deal with change, but you have to adjust if you want to continue to grow and succeed.
"Be nimble," he says. "The key is focusing on the customer and listening to the problems that they have and finding creative ways to solve them."
Those creative ideas and the willingness to take a chance are the keys to Panther's growth.
"Offering that type of customer experience has allowed us to be successful," Clarke says. "If they call us and we don't solve their problems, if they call us and we're not creating that type of customer service, they'll call somebody else."
Here's how Clarke harvests the ideas that have enabled Panther's tremendous growth.
Let your employees make it happen
Not every idea, whether it's good or bad, originates at the top of the company. That's a misconception, Clarke says, and a poor way to run a business.
Many of the ideas that changed the way Panther does business came from its customers, as relayed from Clarke's employees.
The Panther professionals who answer the phones, deal with the company's contracts and direct the company's drivers are on the front line. So when a customer has a problem, they are instantly aware of it.
"They see things every day and come up with pretty interesting and creative solutions to challenges we've had in the past," he says. "Providing them with a forum to express...