How would you like to have your company recognized as one of America’s Fastest Growing Private Companies?
“The Inc. 5000 list stands out where it really counts,” says Inc. President and Editor-In-Chief Eric Schurenberg. “It honors real achievement by a founder or a team of them. No one makes the Inc. 5000 without building something great – usually from scratch. That’s one of the hardest things to do in business, as every company founder knows. But without it, free enterprise fails.”
The Inc. 500 | 5000 application process is not as complicated as you might think. In addition to the tips I’ve shared here, you can find all the details and the online application at the list website.
Here are some of the “whys” for wanting to make the list:
When you rank on the Inc. 500 or Inc. 5000, you receive exposure in national, local, and industry media. Your company’s own business profile is published on the Inc.com website indefinitely.
The honor boosts employee morale and reinforces retention. Publicizing your inclusion on the Inc. List improves your recruiting opportunities. It also opens doors to share ideas with fellow honorees.
When you make the list, you can purchase a framed honoree plaque as well as the rights to carry the prestigious Inc. 500 or Inc. 5000 logo with your rank on all your collateral materials such as business cards, website, ads, brochures, vehicle wraps, and more. The Inc. logo alone creates strong sales momentum and bragging rights over your competitors. You can’t buy this type of credibility at any price.
The Inc. list is based on percentage of growth over three years. If you make the Top 500 rank, your company will be listed in the Inc. Magazine print publication as well as the online list. Ranks 501 through 5000 are published online only.
The Inc. list application process opens in late January of every year at the website. The deadline to apply is May 1, 2017 this year. First, you’ll need to establish your eligibility by meeting the following qualifications:
Be privately-owned, based in the United States, and be independent (not a subsidiary or division of another company).
Have started earning revenue by March 31st, 2013.
Had revenue no less than $100,000 in 2013.
Had revenue no less than $2,000,000 in 2016.
Revenue in 2016 exceeds revenue in 2013.
Fill out the online application. The fee to enter is $150, or you can pay $200 and the funds will go towards attending the Inc. 5000 Gala event in October. As an FYI, your PR professional can handle the entire entry process for your company.
The 2017 Inc. 500 | 5000 will be ranked per percentage revenue growth when comparing 2013 to 2016. Here is a formula you can use to see where your company might land on the list. You can search online last year’s list and see percentages companies achieved to receive their rank number. This will give you an idea of where your company might place.
The equation for growth percentage is (2016 revenue / 2013 revenue) – 1 x 100 = total growth percentage.
For example, if your 2013 revenue was $3 million and your 2016 revenue is $15 million.
$15 million / $3 million = 5.
5 – 1 = 4
4 x 100 = 400 percent growth.
Inc. defines revenue as gross revenue, less returns and allowances, before any cost of goods sold. This is the same figure that you’d enter in Box 1c of your corporate income tax return. If you do not have a final figure for your 2016 revenue at the time you apply, you can give an estimate and then give the precise figures when you submit your verification materials.