BrownFlynn is a women-owned, small business. Nearly 75 percent of small businesses fail in the first 15 years of operation.1 Nationally, only nine percent of all firms have “high economic impact”—meaning they generate $500,000 or more in annual revenues—and only four percent of women-owned firms do this.2 As a Firm that celebrated its 20th anniversary in 2016, we are encouraged that our success defies statistics and that we have the opportunity to serve as an example to other small niche, women-owned firms.
For BrownFlynn to continue to positively impact our clients’ performance—as well as benefit our suppliers and employees—we need to profitably manage our business operations. BrownFlynn utilizes a Firm dashboard outlining organization-wide objectives and goals in these four key categories:
Team Development, Contribution, and Satisfaction
Walk the Talk
Enhance Firm Efficiency and Profitability
As our Firm grows, our goals increase and expand, including more specific targets. We report internally on goal progress quarterly which has led to a strong focus on performance that is shared and owned by the entire team. Walk the Talk was a Firm goal before we conducted our first materiality assessment, so we were pleased to have this goal validated as a material topic. To Enhance Firm Efficiency, we implemented several new tools and processes to gain individual time and project team management efficiencies, thereby enabling us to continue increasing our team utilization rates.
Improving core financial processes and discipline are essential components of sustained economic performance. To Enhance Firm Profitability, we focus significant attention on accurately scoping project work and delivering projects efficiently. Through communication with clients and by aligning expectations on desired project outcomes, we have improved the accuracy with which we price our services and profitably deliver ROI for our clients.
As a locally owned and operated firm, BrownFlynn contributes to our local economy and supports local clients. As a private company, we elect to not disclose proprietary and sensitive financial performance data. However, we are fully transparent with our employees about our financial performance.
In 2016, we received two business development grants from the city of Cleveland for our office move downtown to Terminal Tower, as reflected in the chart below under 2016 Performance (Financial assistance received from government.) The Business Development Grant program is designed to attract new businesses or to expand existing businesses in the city of Cleveland.
2015–2016 Percent of Firm Revenuesby Standard Industrial Classification
Economic PerformanceIndicators & Performance
In 2016 we received a Business Development Grant from the city of Cleveland. BrownFlynn also gives generously of its time and talent to many organizations. Learn more in Community Engagement & Volunteerism.
|Key Performance Indicators||2013 Performance||2014 Performance||2015 Performance||2016 Performance||Comments|
|Coverage of the organization’s defined benefit plan obligations||100% coverage of 401(k) “safe harbor” and discretionary contributions||100% coverage of 401(k) “safe harbor” and discretionary contributions||100% coverage of 401(k) “safe harbor” and discretionary contributions||100% coverage of 401(k) “safe harbor” and discretionary contributions|
|Financial assistance received from government||None||None||None||$13,138||In 2016 BrownFlynn received a Business Development Grant from the city of Cleveland.|
|Consultant utilization rate||50%||40%||50%||53%|
|Total charitable cash contributions||$7,415||$3,325||$7,545||$7,143||BrownFlynn also gives generously of its time and talent to many organizations. Learn more in Community Engagement & Volunteerism.|