“The SBDC gave me advice on marketing and business plan development. They encouraged me to work with the government; I see more growth in our future.”
PsiNapse Technology is a leading provider of staffing services and was ranked #24 on the San Francisco Business Times 2007 annual list of the Largest Latino-Owned Businesses in the Bay Area. The list is comprised of companies located in the San Francisco Bay Area and is based on FY 2006 revenues.
Ms. Luneau’s business provides contract, contract to hire and direct placement of technical professionals for electronic entertainment, legal, and information technology clients who range in size from start-up organizations to Fortune 500 companies.
The business started strong and moved into profitability in the late 90’s, and grew to 66 billable consultants by 2001. Unfortunately, due to the technology downturn in the Bay Area, also known as the Dot-Com bust, PsiNapse hit bottom with only four billable consultants in 2003. Growth started again in 2004 and revenue grew to $1 million in 2005. From 2005 to present, PsiNapse has doubled in revenue each year. Sylvia’s passion and enthusiasm for people, and her staffing expertise has provided a stable focus for her business.
The initial challenge was start-up capital and the need to self fund (grow from increasing sales). Union Bank of California, their business bank, recommended the SBDC to help develop a solid business plan for continuous growth.
In 2003, Ms. Luneau was assigned to an SBDC Business Advisor to review her marketing collateral and assist with filling in the gaps in her business plan. The SBDC assisted Ms. Luneau with ideas in business development and marketing. She also wanted to develop a strategy to expand the business and the SBDC thought her technical staffing services would be ideal for government contracting.
With a managed growth approach, PsiNapse has managed to have sales that support 146 contract consultants and six internal staff employees, and revenue of $5.7 million in 2007. Ms. Luneau’s company has provided staffing solutions to local businesses in the Bay Area that allows them to successfully compete in the global market place. She is now qualified to apply for government contracts. Ms. Luneau prides herself on giving back to her community through Alameda County Food Bank, Street Tech and Girls Inc.