Proof Named One of The "Best Entrepreneurial Companies in America" by Entrepreneur Magazine
Posted on by Vierra Reid
PROOF EYEWEAR NAMED ONE OF THE “BEST ENTREPRENEURIAL COMPANIES IN AMERICA” BY ENTREPRENEUR MAGAZINE’S INAUGURAL E360 PERFORMANCE INDEX
Boise, ID – Proof Eyewear was recently recognized as one of the “Best Entrepreneurial Companies in America” by Entrepreneur magazine’s Entrepreneur360™ Performance Index, a premier study delivering the most comprehensive analysis of private companies in America. Based on this study forged by Entrepreneur, Proof is recognized as a company that exemplifies growth, not just in top and bottom line, but in sustainability and ability to achieve lasting success.
“We are extremely humbled and honored to be recognized by Entrepreneur Magazine as one of the best and brightest companies in America. It's nice to be recognized for the years of dedication by our team to create a successful company like Proof.” Brooks Dame, Founder & CEO of Proof Eyewear
“Those honored have identified a problem, come up with a unique solution, and bravely built their enterprises around it,” says Ryan Shea, President of Entrepreneur Media. “They’ve accomplished new ways of producing sustainable growth and are an inspiration to others who want to fulfill their own entrepreneurial goals.”
Proof was founded in 2010 by 3 brothers who grew up with sawdust in their veins working in the family mill and exploring the Idaho outdoors. The startup provides products handcrafted from sustainable materials including FSC-certified wood, cottonbased acetate, and repurposed skateboard decks. Proof stands firm on three principles: heritage, sustainability, and giving back. The bird logo represents the belief, “Everyone has wings to fly, some just need a little help.”
Through in-depth surveys, the team of editors and researchers behind the E360 Performance Index collected more than 250 pieces of data from hundreds of participating U.S. based companies, focusing on growth drivers and challenges, goal setting, resource allocations, and reward systems. The analysis uncovered a subset of companies including Proof Eyewear, whose continued success is largely based on superior value creation for their customers, building an adaptive learning culture, and aggressive geographic expansion—making them the most dynamic firms in America today.
According to research conducted by the Business Dynamics Research Consortium (BDRC), less than one percent of U.S. businesses expanded capacity three or more years out of the past five. On average, they grew by 41% over the period whereas all other surviving companies lost an average of 4%. Based on the their analysis of 19.1 million for-profit US businesses, sustained growers are statistically more likely to survive and continue to grow over the next five years than any other group of businesses in the economy.
“The companies identified in the E360 Index are sustained growers, and based on our research, have proven adept at navigating the changing challenges of their marketplace to win new business and grow their output capacity year after year,” says Gary Kunkle, senior research fellow at the Business Dynamics Research Consortium and research partner of the E360 Performance Index.
For additional details on the E360 Performance Index, visit: http://entm.ag/E360Index
ABOUT THE ENTREPRENEUR360 PERFORMANCE INDEX
Entrepreneur’s dedicated team of editors and researchers, in partnership with Gary Kunkle, senior fellow at the Business Dynamics Research Consortium, examined information submitted by hundreds of private companies. The company founders who participated were surveyed on multiple factors that go beyond the traditional measurements of success, including market sector, sales territory, target growth rates, culture and other company functions. Companies had to be based in the U.S., privately owned and have at least three years within a five-year period that they added employees.
Differing from the many “fastest growing” company lists in the marketplace, the study sought out to identify companies that exemplify sustained growth, looking further than top lines in a single year, and taking a 360-degree view of U.S. businesses and how they have achieved lasting success over multiple years. Using a technique called 'hierarchical cluster analysis' the research identified six different paths that these extraordinary companies follow to achieve sustained growth.
“Each path represents a unique set of objectives, strategies, and tactics, and each demonstrates the trade-offs between actions that increase the probability of success and those that can increase operational risk. The companies recognized in the E360 Performance Index fall into one of these six paths, or archetypes, we’ve identified,” explains Lisa Murray, Chief Insights Officer of Entrepreneur Media, Inc. “While each company was founded by individuals driven by unique visions of how to create higher value for customers in both emerging and mature industries, it’s through extraordinary implementation that they have achieved lasting success.”
For additional details on the E360 Performance Index and the companies recognized, visit: http://entm.ag/E360Index
ABOUT ENTREPRENEUR MEDIA INC.
For nearly 40 years, Entrepreneur Media Inc. has been serving the entrepreneurial community providing comprehensive coverage of business and personal success through original content and events. Entrepreneur magazine, Entrepreneur.com, and publishing imprint Entrepreneur Press provide solutions, information, inspiration and education read by millions of entrepreneurs and small business owners worldwide.
To learn more, visit entrepreneur.com.