In the pages of INC. we talk a lot about managing growth. As the founder of Inc. Publishing Co., I pay attention to the wisdom of our researchers and authors because the company is growing rapidly itself.
A constant theme of INC.'s articles is letting go and delegating responsibility. In order to manage our growth more effectively -- and to practice what INC. teaches -- I am letting go myself. I have added to the management of the magazine, changes which are reflected for the first time on the masthead to the right.
As we have grown from zero revenues in 1978 to a company with 150 employees and some $20 million in revenues last year, I've discovered that we can realize continued growth only if I delegate some of my responsibilities. That way I can spend a greater portion of my available time planning the rate and direction of future expansion.
So I have restructured the management of the magazine and promoted Norman Raben from executive publisher to president and chief operating officer of Inc. Publishing Co. Norman has been with INC. from the very beginning and played a crucial role in both the launch and the growth of the magazine.
At the same time, to provide Norman with the time to expand into his new areas of responsibility, we have appointed Charles C. "Jim" Randolph to the position of publisher of INC. A past president of the prestigious Magazine Publishers Assn., Jim has a broad range of publishing experience. As publisher of McGraw-Hill's Electronics, he built the magazine into the leading publication in its field. He went on to become publisher of Business Week, which he successfully built into its current position of preeminence in the business press. Most recently, Jim helped with the launch of GEO magazine. We are now grateful to have all that talent and experience at INC.
From reading the cases presented in INC. over the past two and a half years, I have learned what kinds of talent are needed to complement those of an entrepreneurial founder. And I know that we now have those talents in the right places in this company.
As the entrepreneurial founder of this company, I will now be able to focus my energies on new projects and on our company's long-term plans. One service in an experimental stage, for example, is a computer-accessed network for the owners and managers of smaller companies, which will be called INCnet. In a joint effort with Source Telecomputing Inc. (better known simply as The Source) and a small company called Participate Systems Inc., we hope to provide our readers with both a way to retrieve helpful management information on demand and a way to computer conference about common problems with other managers of smaller companies. We see that kind of service as an extension of the spirit of INC. magazine: a useful and friendly partner for the people who operate smaller companies.
INC. will continue to have as its major editorial objectives the four goals I stated in my original statement published in our premier issue in April 1979. "First, to publish the experiences of smaller company managers; second, to search out and report on events affecting the destiny of small to mid-sized companies; third, to provide practical "how-to" columns on all aspects of small company management; and fourth, to establish INC. magazine as a platform from which to fight against legislation and regulation adversely affecting smaller companies and to help restore a fertile environment."
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