In 2003, Gray Hall faced a Catch-22 as president and CEO of VeriCenter Inc. He needed to raise more capital because the managed hosting service provider was struggling financially, but doing so would dilute management’s ownership. He felt stuck until Sprint Corp. presented an opportunity that he envisioned alleviating his company’s problems. Sprint was selling a portion of its business deemed not part of its core, but instead of looking for the highest dollar, it wanted to ensure its customers would be taken care of with the sale. Despite VeriCenter’s financial struggles, Hall was confident he could do it, so he plunged forward and won the deal. By thinking larger, the financial problems disappeared, and the company hit $60 million in revenue last year. Smart Business spoke with Hall about how he manages growth and empowers his 300 employees. See the big picture.
Businesses are always going to have challenges and are always going to have problems. If you allow yourself to spend all your time just solving whatever problem is in front of you, you’re going to miss the opportunity to pursue a bigger opportunity that could eliminate all your problems.
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