The Future 50 Awards program is the largest and most anticipated SmartCEO awards program of the year. This program recognizes the region's fastest growing, mid-sized companies. These companies represent the future of the region's economy and embody the entrepreneurial spirit critical for leadership and success.
TEI Group is an independent elevator company working in the greater New York City area. "We preach the 'build it and they will come' philosophy," says president Mark Gregorio. "In other words, provide a great product and great service, and clients will want it. We take a custom approach to every job and provide very high-quality workmanship. New York City is truly a vertical city, and the continued demand for urban living has expanded the overall market." In growing TEI Group, Gregorio has learned that cash management and proper funding are critical, along with hiring people who have the potential to grow into management roles.
Quick Tip: "A great leader must constantly obtain feedback from all levels of the organization and adjust course as needed."
Another important lesson for Gregorio and TEI Group has been the fact that growth needs to be managed. "Growth between 10 percent and 20 percent in our type of work is … challenging but manageable," he says. "Anything beyond that is not manageable, so you have to curtail and know when to stop." For future growth opportunities, TEI Group is looking at acquisitions. Gregorio anticipates that as New York continues to grow, so will his company.