Location: Morristown, NJ
Industry: Technology, professional services
Co-founder and CEO
CUTBACK TO TURNAROUND
Artech Information Systems LLC was founded in 1992 by CEO Ranjini Poddar and her husband Ajay. At that time, the idea of IT outsourcing was relatively new and somewhat unrefined. “Although qualified IT services and advice were available, the quality and continuity of deliverables were inconsistent,” says Ranjini Poddar. With this in mind, the Poddars launched Artech to raise the bar. They raised $210,000 in startup capital from family and friends, established their office and waited for the business to start rolling in. Once they had waited a year, the startup capital was gone. The Poddars struggled to make payroll and pay their bills. It was time to take a step back.
Quick Tip: “You have to be inspiring. You have to set a vision that people can work towards and can identify with.”
To turn the company around, the Poddars rented a smaller office space, cut back on staff and took on additional responsibilities. Then they got on the phones and started calling prospects. One of their first sales was an accident: A government entity seeking a company with a name similar to Artech called the Poddars’ scaled-down office. The Poddars engaged the caller, asked questions about the opportunity, and soon embarked on their first IT project. In its second year, Artech earned a profit, and it has kept growing since. Today, Artech has a very aggressive multi-national business plan.