Heidi Smith Price might speak in a soft voice, but she's definitely loud enough to be heard. In fact, at only 29 years of age, she has established a notable presence in a male-dominated industry.
"You hardly see any women in the construction industry, much less the industrial industry," says Smith Price, who has grown her heavy industrial contractor business, Spartan Constructors LLC, from a mere $100,000 in revenue in 2003 to a projected $150 million by year-end--landing her securely at the top of this year's list of the 50 fastest-growing women-led companies.
In 2004, Smith Price bought a majority partnership in the Sugar Hill, Ga.-based business and was up for the challenges it presented, namely earning respect from her peers. "You just have to stand your ground and not let other people walk all over you," says Smith Price, who has focused instead on the opportunities that she knew lay hidden beneath the surface.
She immediately certified her business as a women's business enterprise and was thereby able to open up her business to major contracting opportunities. This simple decision has enabled her to enjoy substantial growth over the past four years, at a rate faster than even she thought possible.
And while many might find the turf unfamiliar, Smith Price has embraced it as her stomping ground ever since she was a young girl learning the ins and outs of her father's construction company. That experience as his executive assistant prepared Smith Price well for her role today, which requires that she wear many hats to get the job done.
This level of competency, coupled with high standards for quality control and attention to safety, has won over major clients, such as Georgia Power and Southern Company.
The rate at which Smith Price has grown her business is exceptional, but her success is not unusual. The Women Presidents' Organization, which helped compile our top-50 list, estimates that 45 percent of all privately held companies in North America are owned by women. New York City-based WPO is a nonprofit peer advisory organization for multimillion-dollar women-led and women-owned businesses.
Meanwhile, according to Marsha Firestone, president of WPO, the organization's members earn average revenue of $13 million. "It's very difficult to build a business," Firestone says. "And it keeps the fire in the heart burning to see women who have made it."