Growth Acceleration Services Coordinator Jim Parrish meets with Tona Bell and Randy Rosenthal, founders of Tricycle Studios.
Tricycle Studios + SBDC = 30 Percent Accelerated Growth
Tricycle Studios, one of Tampa Bay’s first digital marketing agencies, began in the fall of 1996 when founders, Tona Bell and Randy Rosenthal, combined their expertise in advertising and video production with business assistance from the Florida Small Business Development Center at the University of South Florida (SBDC at USF). Today, Tricycle Studio continues to work with the SBDC at USF to grow and expand as a marketing communications agency by taking advantage of the Growth Acceleration services at the SBDC at USF. These services will assist them position their company to achieve its growth objective of 30% per year for the next five years.
From the beginning, Tricycle Studios has had a specialty in medical device and diagnostics, biotech, and pharmaceutical marketing. By 2007, the company had grown to 11 employees to meet the demands of their growing global client base. By 2008, Tricycle Studios revenues were falling, so the founders returned to the SBDC at USF for assistance in surviving the worst recession since the “Great Depression.”
According to Tona, “the consultation we received from Jim Parrish at the SBDC at USF was priceless. If not for his expertise and recommendations, we wouldn’t be here today. He helped us through making tough decisions, focusing our efforts on the medical industry, and provided us the tools to not only survive, but also grow. Beginning in 2008, we meet with Jim quarterly to discuss our progress. Since then, we have had a 30% increase in sales. We’ve also reached 15 employees.”
According to Growth Acceleration Services Coordinator Jim Parrish, the SBDC at USF will perform a detailed business health assessment and a financial analysis of Tricycle Studios in order to assess its growth potential. Then, the SBDC at USF will work with Tricycle Studios to develop and implement strategies to position the company to achieve its growth objectives of 30% per year for the next five years.