One of the first rules of entrepreneurship is identify a profitable niche and gain expertise in that space. Ron Clarke follows that rule to a tee.
As chairman and chief executive of FleetCor Technologies (FLT), Clarke attributes the Norcross, Ga.-based firm’s growth to one word: focus. In 2011, its first year as a public company, FleetCor’s revenue grew approximately 20% and adjusted net income grew over 30% on a pro forma basis.
“We do one thing and we do it well,” Clarke said. The company provides fuel cards to businesses, which in turn give the gas cards to their on-the-go employees. The businesses â€” in North America, Latin America and Europe â€” use the cards to control employee spending on fuel.