Is your company as successful as you want it to be? Find out from these companies that know how to run a business!
Most of us are familiar with the big names like Disney, Coca-Cola and McDonalds. But just because they’re household names, doesn’t mean they have all the marketing tricks down pat. To find some lesser-known but equally savvy companies, we went digging through Inc.’s list of the 5000 fastest growing American companies.
A few companies made an impressive showing on this list. But many others didn’t.
What made their difference?
Note: This is a list of companies that were started within the past decade, have annual revenues of at least $500 million and rank among America’s fastest-growing companies. We look for evidence that these companies are embracing effective management and branding practices and making smart bets on market conditions.
Here are some businesses who are doing it right in 2021 and why:
FOOD RETAIL BRAND STRATEGY – Krave Jerky
Krave Jerky is a company that came out of nowhere and has gained market dominance over the past few years. What started as a simple beef jerky recipe is now sold in nearly every retail store in the country. How did they do it? They simply offered what people wanted. Selling high quality snacks was a good way to get started and keep customers coming back for more. Along with their simple recipe, they also had awesome packaging that appealed to their target audience. This is why Krave Jerky has been able to become one of the fastest growing companies in America.
B-CORPS BRAND STRATEGY – Patagonia
Patagonia has been a well-known brand in the outdoor industry for over 45 years. They are known for their high quality products, responsible business practices, and overall excellent customer service. They have made some unconventional decisions over the years that have cost them millions of dollars but they understand that their brand speaks to a certain type of consumer and that is what they want to keep producing. Other companies may not be willing to make those same concessions, but that is what makes Patagonia so successful.
TECHNOLOGY BRAND STRATEGY – Zillow
Zillow is a real estate website with an emphasis on mobile technology and has grown year over year. The company has done well because they know what it takes to compete in the industry. They continue to update their products, which has allowed them to keep up with their competitors. Along with being one of the fastest growing companies, Zillow offers some of the best real estate advice online and continues to expand into new markets, which is why this company is such a hit in the market.
What made their difference?
Rule 1: They Know How to Grow
Hint: If you want to turn a canny eye toward your own company, simply ask yourself this question: What would you change if you were starting over today? Then make sure that every decision you make is based on answering that question. This way, your decisions will be grounded firmly in the realities of the present, rather than in presumptions about what worked well in the past.
To grow its top line more than 100 percent each year for the past six years, the mentioned
apparel maker made three smart moves. First, it has continued to innovate its product lines. Second, it consolidated its production factory to make use of sophisticated digital technology that improves efficiency and lowers costs. And third, it made sure that employees are empowered to take the initiative and suggest ways to improve the business.
Rule 2: They Are Innovative
Hint: Don’t be afraid to change the game. Instead of asking your customers what they want, give them a new game altogether. By trying something completely different (which is actually just a twist on what they already know), you will attract the attention of consumers who are seeking out fresh ideas.
Rule 3: They Get the Numbers Right
Hint: Many companies come up with new numbers to bolster their case for marketing expenditures. The question is, which numbers should they be using? Gaps between spending and results show that the company may be overspending, while underspending may signal that it’s underperforming. In other cases, what’s missing from its financial statements may be more important than what’s revealed by the numbers itself.
How virtual assistants helps your bottom line
It’s really important for your business to maintain a reliable (now-digital) business infrastructure and provide administrative support that an administrative assistant can do from any location. When you do this, your business will maintain a high bottom line, increase efficiency, and optimize their time.
Administrative assistants are extremely important to the success of your business. They are able to perform all kinds of administrative tasks from any location and they have a higher chance of getting hired by companies that would prefer someone who can work remotely.
For example, marketing departments for small companies need administrative assistance because they need to get all kinds of data from their online platforms as well as, manage their customers’ accounts. Marketing departments also send out emails, market products, handle customer support, keeps track of customer orders and other essential tasks.
See For Yourself: A Closer Look at Virtual Assistants
The popularity and acceptance of virtual assistants will grow over the next decade. It is estimated that, in 2020, 40% of the entire US task force are virtual professionals. Today’s use cases for these task-oriented professionals are vast. “Freelance virtual assistant services” will be one of the biggest industries in terms of employment and global revenue by the end of the decade.
“Outsourcing makes the hustle better — because you’re not burdened with many/growing expenses that you’ll need to figure out how to cover and hit profit”
Focus on your growth & scale your operations
ENVISIONING OF A NEW REALITY FOR YOUR BUSINESS
Simply put, MyOutDesk equips entrepreneurs & business owners with tools, strategies, and virtual employees – and when combined, businesses have a competitive edge and find growth while efficient systems and processes are put in place.
MyOutDesk proudly provides additional free business growth guides, books, and strategy calls.
See what we are about, and schedule a free ‘Double Your Business’ strategy consultation with us. We’ll take the time to learn more about your business and offer solutions to foster top talent and lower operational costs for your company.
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Did You Know? MyOutDesk’s origin story is set during the last global financial crisis of 2008. Yes, that’s right — our business started by scaling businesses with virtual assistants during a recession! Our first client in 2008 went from five to seventeen VAs with a completely revamped organizational model in short order, and he told MyOutDesk, “Our virtual professionals have shaved $250,000 off our monthly overhead.”