Small Business Success Story: In Time Tec

Entrepreneurship is a quintessential part of the American Dream and it’s clearly represented in Idaho software company In Time Tec.

Founded in 2009 by CEO Jeet Kumar and four like-minded entrepreneurs, In Time Tec is projected to have a valuation of $100 million this year. Kumar shares insight from his entrepreneurial journey and offers advice for founders who want to scale their companies.

How has your company grown so quickly?

We’ve quickly scaled because of our commitment to creating value for our clients. Our brand promise to our clients is that we will create return on investment — as defined by them — or they don’t need to pay us (Our brand promise is: ROI or you don’t pay). And because we take care of our employees, they’ve taken care of our clients.  

To meet client needs, we structured our focus into three areas: our core business, emerging opportunities in the public sector, and profitable growth with global expansion. In 2021, we grew our core business by 60% and started a new company called NextGen AgTech that focuses on the agriculture industry. In recognition of our success, we’ve been listed on Inc. 5000’s list of Fastest Growing Privately Held Companies for seven consecutive years. And because of this growth and our culture, we’ve also been named one of the top ten best places to work in Idaho in the micro, small, medium, and large employer categories.

What advice would you give to other software companies?

It’s critical to identify your niche, core values and unique value proposition that defines your company. As you live your values and broadcast your value proposition, the numbers will follow. 

Scaling a vision-focused company is akin to the growth pattern of bamboo. Bamboo’s growth is stagnant in the first few years, but if it’s consistently nurtured, it can grow up to 90 feet tall in only a six-week period. If you create the right foundation for your business, your consistent efforts can lead to exponential growth.

Idaho’s tech sector has also experienced significant growth. How can we foster a community that helps technology companies thrive?

To support the tech industry, it’s important to foster a community that shares ideas and expertise. Meetups, mentoring and official coaching programs can help build leaders who will create economic growth in their local communities. To help create this environment in Idaho, I serve as the chair of the Idaho Technology Council, an industry-led and member-driven organization for tech companies.

As companies navigate rising interest rates and prepare for a possible economic downturn, what advice would you give them?

After building a 3- to 6-month cash reserve, it’s important for companies to carefully manage their debt and work with their bankers to forecast cash flow and meet financial obligations.

In hard times, leaders should take care of their people. Remember that bad times aren’t permanent. After the storm rolls through, your employees will remember your loyalty and can become champions for your company.

Why did you choose to work with Zions Bank and how has it helped your business?

Zions Bank is extremely conducive to small- and medium-sized businesses because it provides a personal touch with the resources of a global bank.

When COVID-19 first emerged, our banker reached out to us and was readily available to help us navigate the changed environment. He helped us gain access to new capital sources and made the process as easy as possible. We appreciate how Zions Bank cares about its clients and provides personalized service.

Looking for help to grow your business? Zions Bank offers online business tools including business templates, columns, videos and financial calculators. Our Business Resource Centers provide 1-on-1 counseling and group training for entrepreneurs.

Zions Bank’s team of relationship managers can help you find the right SBA loan* for your business. Apply for a business loan online anytime or visit a local Zions Bank branch to learn more.

*SBA loans subject to credit approval and SBA approval. Terms and conditions apply. See a banker for details.