LIMITLESS INTERNATIONAL, INC.
When selecting a name for her company, Cheryl Stockstad chose “Limitless,” because that is how she sees her opportunities in business. Indeed, this woman-owned firm has let no obstacles stand in the way of her vision for Limitless International to become an industry leader. Despite some setbacks, the firm today is stronger than ever and well poised for future growth. From 2007 to 2008, Limitless’ revenues jumped more than 500% to $3.3 million. In 2008, Limitless was awarded the opportunity to become a subcontractor to one of the largest Department of Defense transportation contracts in history, a $4.6 billion contract to move cargo between the 67 U.S. military bases. Stockstad, a licensed U.S. Customs broker and freight forwarder with over 25 years of experience in global trade, started Limitless in June 2002 as one of the very few 100% woman-owned freight forwarding businesses in the United States. Stockstad’s upbringing in Norfolk, VA, home to the largest and oldest U.S. Navy Shipyard, and her family ties to the shipping industry have a long history, going back to Andrew Sprowle, one of her early ancestors who owned and operated the Gosport Shipyard back in 1767. Her family background and love for the industry have spurred Stockstad in her quest to develop Limitless. In 2005, Limitless established its own office and warehouse and began acquiring all the necessary licenses and certifications for the transportation industry. The firm has been certified by the federal government as a Small Disadvantaged Business, Woman Business Enterprise and 8(a) corporation. Limitless is also a registered central contractor with the U.S. Department of Defense. In 2008, the firm received its IATA license, allowing them to become a recognized global air transportation provider. Recently, Limitless became a bonded service provider for the Surface Deployment Distribution Command for the U.S. military and also became a designated screening facility for the Transportation Security Administration. In early 2009, Limitless expanded to open a second branch in a Hubzone in Norfolk, VA. The SBDC at UCF has been a key partner to Stockstad in the growth of her business. She began utilizing SBDC services in 2003 and has met with an SBDC business analyst for assistance with obtaining her 8(a) certification, attended training in government contracting and received counseling from Procurement Technical Assistance Center (PTAC). Recently, she participated in the semester-long Small Business Institute, in which a team of UCF MBA students analyzed her marketing strategy and made a series of recommendations. However, her longest term commitment with the SBDC has been her participation in the Advisory Board Council (ABC), a program which forms advisory boards to strengthen Orange County businesses. Stockstad worked closely with Jill Kaufman, ABC Program Manager, in order to tailor her board specifically to the firm’s needs. Limitless first joined the Council in 2006 and is now completing its second term. According to Stockstad, Limitless’ board, comprised of experts in government procurement, marketing, strategic planning, finance and law, has been a key element in the astonishing growth of her firm and in her own personal development as a businesswoman. “The board has helped me become a better leader and manage my company more effectively,” explained Stockstad. “I have been fortunate to have a group of professionals who have been so dedicated to the success of my company.” Another important factor in the firm’s success has been Stockstad’s receptiveness to the input of her board. One of her advisors recently remarked how Stockstad’s openness to their advice has motivated the members to become even more engaged in the board process. This is borne out by some Council statistics which demonstrate the board’s impressive level of involvement. The dedicated volunteer advisors on Limitless’ board have contributed a whopping 289 in kind hours of service in support of the firm. The reported market value of these hours totals $52,733 of pro-bono consulting, a record for any Advisory Board Council client. “Meeting with my board every quarter keeps me accountable,” commented Stockstad. “The process of reviewing what’s been done and how decisions I’ve made have affected the company, has been extremely beneficial.” Grateful for the mentoring and support she has received, Stockstad is very community minded and always striving to give back by helping to develop her industry and the small business community. She serves on the Board of the Florida District Export Council’s Central Florida Chapter and is the founder of the Global Trade and Commerce Association, a nonprofit organization created in 2007 to promote, serve and educate its members in all corridors of global trade. Stockstad was also chosen to serve on one of Governor Christ’s Accelerator Think Tanks in an effort to identify strategies to stimulate the economy long term. Asked about her business philosophy, Stockstad sums it up this way, “Although I have been faced with many challenges during my seven years in business, I believe that building a company on a foundation of integrity and aligning yourself with experts like the SBDC, who can help you grow your business, can make all the difference between success and failure.” |
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Limitless International
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