Mike Harvath: Playing a part in business to help others grow Exponentially
Even though it’s called “Revenue Rocket,” getting a company off the ground and into the stratosphere is no easy feat. You need more than just a crack team of professionals and some serious work experience to make it to the top. Building a successful company and leading it through the choppy seas of expansion requires constant, reliable guidance.
While well-established businesses encounter no such obstacles, there is one industry that has never received enough support. It’s the information technology industry, which may be great but lacks basic infrastructure.
Mike Harvath, CEO of the Revenue Rocket consulting organization, offers a fantastic option to aid businesses that are capable and efficient enough to deliver a boom in revenue with less resources and good support.
A Desire to have a Positive Impact
“IT Services companies come in many flavors and it takes an advisor who intimately understands the in’s and out’s of each segment, solution, and offering across this wide category to provide proper advice,” said Harvath when we asked Mike about his desire to start a company to help IT services companies create healthy, sustainable, and marketable organizations. You example, advising a contact management solution provider on obtaining new clients via regional growth fuelled by an acquisition is quite different than advising a firm whose main emphasis is cybersecurity on a route to liquidity.
He established what is now Revenue Rocket Consulting Group on the principle of assisting individuals in need. His business acumen led him to start this consultancy firm that has the potential to promote growth across several industries, most notably the IT services industry.
After three successful exits of his own IT Services firms, he gained the insight necessary to establish a consulting company that could provide the right services by teaching them the right way.
He was convinced that his expertise in the IT services industry would set him apart from the usual so-called consultants involved in those three deals. Realizing the challenges that IT service providers face on a daily basis, not only after a transaction or purchase. “Being able to advise a buyer or seller based on real-life experience is why people choose Revenue Rocket,” Mike said.
Obstacles in the way of a Hopeful Step
Soon after launching Revenue Rocket, Mike saw that his business model and approach were successful, and that he needed to grow the company by adding staff, training them, and documenting the process so that it could be replicated.
The time and effort I put into assembling an expert advisory group would be the single most beneficial expenditure of my life.
The widespread belief that Mike’s kind of vertically integrated firm couldn’t succeed was one of the biggest obstacles he had to overcome. Mike, however, took a leaf out of his own book and put into practice the strategies of specialization, productization, and verticalization (SPV).
To change people’s beliefs and show them that anything is possible, he had to put in twice as much effort as the average businessman. Positive thinking and determination will lead to successful outcomes, regardless of how long it takes to get there.
The second obstacle he faced was competing with established businesses in the same industry. “Many of the other companies that did what we did were geographic generalists, meaning they worked in an MSA or market service area,” he explains. They only dealt with businesses in their region for M&A and strategic advice.
He had a great chance to innovate since there weren’t too many companies offering those kinds of strategic services when he started up. He did some research and discovered that the dominant companies in the IT service industry were not concentrating on certain niches.
He planned for his thriving business to cater to this market segment and provide them the same chances for internal expansion.
It was time for Revenue Rocket to see some organic growth of its own, and for Mike’s category-focused strategy to begin yielding the results he had predicted it would. Prospects saw immediately that this method would provide a faster and more comprehensive strategy to promote change, concentration, and discipline. “Timeliness and iterations are key, whether it was building a process to sell or advising on organic changes, since credibility sells and people were and are under a continual feeling of hurry. He emphasized the need of speed and precision.
If you really want to achieve anything, you will push through all difficulties until you succeed. Mike was similarly independent and willful in doing what he wanted. This once-foreign idea is now often used in business.
Something That Aids in Financial Success
The Revenue Rocket Consulting Group is a business consultancy organization that assists IT service providers in developing the most effective methods of expanding their operations. Acquisition of complementary service providers, regional expansion, and targeted entry into untapped niches within the IT services market are all examples of such tactics. While mergers and acquisitions may be a catalyst for development, they are not the only path to expansion. Customers of Revenue Rocket often seek for natural methods of expansion or differentiation. When asked about how to create the greatest value for their clients, Mike responded, “We need to be able to identify where each client is in their lifecycle and formulate a plan to obtain the goals and objectives we believe will cultivate the most value.”
“Half of our business is focused on Growth Strategy optimization to help our clients be top quartile performers for both revenue growth and profit realization,” Mike continues, “and the other half of the business is focused on M&A advisory services for both buy-side and sell-side deals.”
His firm caters only to IT service providers. Managed service providers, bespoke software development firms, and application installation organizations are his categories.
The long-term identity of Revenue Rocket Consulting Group
Rapid growth and success have been hallmarks of Revenue Rocket Consulting Group’s brief existence. Revenue Rocket’s rapid expansion bodes well, and it’s not hard to see a day when it serves as a model for aspiring business owners everywhere.
We are the fastest-growing business in our industry on the Inc. 5000 list of the 5000 fastest-growing privately owned firms in America for 2020. Growth over the last three years was averaged to determine inclusion on this list. Furthermore, he says.
Mike has built a successful, expanding, and well-respected business because he does what he teaches to his customers. Mike grinned, “Every year we outperform the previous year, and this year will be no exception.”
“We provide advisory services to IT Services firms anywhere in the world and have been able to do so in a very cost-effective manner,” he said. Revenue Rocket’s global remote advising services predate the current surge in remote work that has been spurred by shelter in place directives.
Executive Biographical Sketch
Mike had an early onset of the business spirit. With his first business venture, a lawn care firm, Mike learned at a young age the value of a dollar and the significance of putting in long hours of effort. Mike’s ambitions and drive to learn about cutting-edge innovation landed him a dream job at Apple, where he discovered his true calling in life. Before he started his own company, it was his crowning accomplishment as an employee.
Mike maintains a healthy work-life balance by spending his time away from the office with his loved ones rather than dreading it.
He says, “I believe balance is much more about leveraging what you’re passionate about, and I am obviously enthusiastic about business, but I’m passionate about family, and I’m passionate about sports, and I’m passionate about travel, and I’m passionate about diving. As a result, I believe that you will be successful if you strike the correct balance between following your hobbies and other responsibilities in life.
He takes his position as CEO of Revenue Rocket Consulting Group very seriously in order to preserve the company’s dignity and the strategic direction that will bring it success. He explains, “I take seriously my responsibility to inspire the workforce and guard the company’s mission. The expansion of my business and the improvement of my ability to meet the needs of my increasing international customer base are constant preoccupations of mine.
His genuine interest in and enthusiasm for his profession are the fuel that keep him and his team moving forward. Their dedication to helping others make money from their passion projects is what drives them to excel. As a result, they are able to serve others and have a good time doing it, all while establishing long-lasting connections based on reliable conduct.