August 2005 Circle Update
July was one of the unusual months in which there was no Circle activity. You might think of it as the calm before the storm since August will be one of our busiest months of the Circle year. Anyway, the relative quiet of July (at least in terms of Circle activity!) provided an opportunity to look back and see where the Circles have been, and how much we have progressed as an organization in just a few short years. Let’s take a brief walk down memory lane, BTC style.
The very first Circle meeting occurred in November of 1999, and consisted of eight firms. Interestingly, seven of those original eight are still members of Circles today, and the eighth was merged into American Express several years ago. It is immediately obvious that this is a winning idea!
By the summer of 2000 we had grown to 26 member firms and increased to three separate Circles. Using a high degree of imagination and creativity, the original Circle became Circle #1, while the others became Circle #2 and #3. Circles #1 and #2 were made up of about the composition they are today, generally firms of about $10 million to $25 million in revenue. Circle #3 was made up of smaller firms, those of about $3 million to $5 million in revenue, much as it is today.
By the summer of 2001, we had added a fourth Circle, and a unique one at that. This was Circle #4, made up then, as now, of some of the very largest firms in the country. These firms are generally over about $50 million in revenue and bring a very different perspective to their meetings than do some of the smaller firm groups. With the addition of BTC #4, and additions to the existing Circles, our membership had grown to 45 firms.
By July of 2002 we had added BTC #5 and BTC #7. Yes, there is an anomaly here. For reasons not worth going into here, we temporarily skipped #6. Anyway, Circles #5 and #7 filled a gap in the size spectrum. These Circles were originally targeted at firms slightly larger than BTC #3, but smaller than BTC #1 or #2. The addition of these Circles brought our total membership up to 61 firms by the summer of 2002.
In 2003 we went back and picked up the “missing” BTC #6, and targeted it towards very small firms – those under about $2 million in revenue. The addition of this Circle and across the board growth in the others gave us a membership count of 79 firms by that summer.
2004 saw no new Circles added to the list, but steady growth in the existing Circles. By July of that year our membership stood at 90 firms!
So far, 2005 has been a banner year as well. Already we have added our newest Circle, BTC #8. This group met for the first time in June 2005 with six firms (plus two firms from other Circles doing “make up meetings”). For the August meeting, we expect this Circle to grow to at least nine firms. Counting the additions to other Circles, our July membership count stands at 110 firms.
So what has made the Circles such a phenomenal success? The feedback we get from members seems to focus on three key areas. First, the mix of an influential IT partner and the chief technical person from each firm seems right. We often hear that the Circle meeting, with its associated travel time, is the best quality time these two busy people get to spend together during the quarter. It is here that they do some of their best consultation and planning for the firm. Second, people like the opportunity to mix and network with respected and trusted peers from around the country, in an environment set up for sharing and with no concerns about local competition. We often hear that the breaks and dinners provide information just as valuable as the programs themselves. At Boomer Consulting, Inc., we feel the program has been a success when we hear about firms working together, sharing and collaborating offline between the meetings. And third, feedback tells us that the meeting agendas themselves are “on target”, particularly with a bit of vision and future direction mixed in with practical lessons learned and best practices shared among the member firms.
So, in this summer of 2005, it is refreshing to look back upon the successes of the past few years, and plan to build upon that success well into the future. For those of you who are already Circle members, thanks for your vote of confidence and for making the Circles what they are today. For those who aren’t yet a part of this elite membership, it’s never too late. If you are interested in finding out more about how your firm can join the ranks of the “best getting better” contact Eric Hunt (erich@boomer.com) at 888-266-6375. He can tell you all you need to know; or even better, put you in touch with one of our hundred plus satisfied members. We hope to see you at a Circle meeting soon!