Speaking on Business
January 31, 2012
Zions Bank’s Speaking on Business radio program highlighted Fishbowl as a major business success story on January 31, 2012. The piece focuses on how the company turned around under CEO David Williams’ leadership and is now one of the fastest-growing and most charity-focused midsize businesses in Utah. Listen to the whole story and read the transcript below.
Audio:Listen to the Audio Here
This is Chris Redgrave for Zions Bank Speaking on Business.
David K. Williams was sent to a struggling Orem company in 2004 to close it down. What he found were five employees who hadn’t been paid in six months still working hard and hoping something would change. They were close to having a product ready to go to market and only needed to work out a few details. He was so impressed with their dedication he asked for 30 days to turn things around. And he did.
He became the CEO of Fishbowl and helped prepare and launch the product, which quickly gained traction as the most requested inventory management product for use with QuickBooks. In their first three months of taking the product to market, Fishbowl sold $312,000. Eight years later the company is now debt free and turning a healthy profit.
Their inventory management software is so popular that companies of all sizes use the product as their business software front end. This software is built to fulfill a customer’s needs and is designed so companies will never outgrow it. The company is built horizontally to provide the best features and functionality for their customers across all industries, from a startup in your home to NASA. No wonder Utah is one of only two states to receive Grade A for Most Tech-Savvy States.
David attributes much of Fishbowl’s success to his 88 plus employees. He believes that no matter the product you have to offer, if you’ve got superior employees, that’s what matters most. He hired 20 in 2011 alone, contributing to job creation and sustainability in the state. The company has a flat structure so everyone has an equal voice, a smart move when 60 of his employees are under 25. He believes in taking care of them and providing an environment with career opportunities. By the way, this is also a 100 percent employee-owned company.
In addition to their software, Fishbowl has launched the CAM initiative, or Courage Above Mountains, in remembrance of David’s son, Cameron. They provide programs for digital literacy and software certifications. Nice work, Fishbowl!
For Zions Bank, I’m Chris Redgrave, speaking on business.