There is no secret recipe for moving your company into rapid or hypergrowth and sustaining it over time. Some companies get there faster than others, but there is a lot of strategy and hard work happening behind the scenes to reach that point on the S-Curve.
Hypergrowth is about balancing company needs while rapidly scaling — and you are not in it alone. Plenty of companies are in the same phase as you, so why not look to them for inspiration?
Rapid-Growth Startups to Inspire You
Let this list of start-ups point you in the right direction for inspiration and help you understand how other companies deal with rapid growth without losing their competitive edge.
Flexport is logistics startup that has been around for the last five years. They have transformed the shopping experience for popular brands such as Warby Parker.
Currently, they have raised over a billion dollars in funding through prestigious venture capitalist firm, SoftBank, and they seem poised to grow even further.
Flexport ships goods and products across the world through air, land, and sea. They help their customers further by taking care of insurance and customs assistance during the shipment.
Their technology platform allows brands to have deep visibility and control over products and delivery as well as stable supply chain costs and transit times. At this pace, their offices continue to grow. They went from 26 employees in 2014 to over 500 in 2017. This is a rapid-growth startup that keeps adding more to the team and sustaining their growth.
Property ownership and management have long been fraught with communication issues, slow resolutions, and a host of other issues. Nestio, however, is here to change all of that.
Their simple platform helps with marketing and leasing properties inside one simple solution. Management and brokerage firms all across New York City are using this product for a centralized way to communicate with other landlords, brokers, and agents while also maintaining a consistent base of records.
Nestio’s current founder and CEO, Caren Maio, is seen as one of the new female entrepreneurs to watch. As they continue to receive venture backing, Nestio’s footprint across the real estate industry will continue to keep its current pace of hypergrowth.
Parking used to be a nightmare for a lot of people — especially for those of us more on the forgetful side that quickly forget where they are in giant parking lots. However, companies like ParkWhiz are here to change all of that with new e-parking solutions.
A lot of companies in hypergrowth are simply companies that took a really simple idea and improved upon it. Parking is not new, but making it digital? Well, that is why ParkWhiz is growing so quickly.
By digitizing the process of finding parking by your current location, as well as showing price comparisons, it streamlines a process while saving costs. It has now scaled their employee force to over 100 and is continuing to increase that number.
Based in the United Kingdom, this is a scrappy rapid-growth startup that is taking takeaway food giants such as UberEats by storm. Deliveroo has seen massive growth and popularity among a wide variety of demographics thanks to their quick and efficient service at affordable prices.
They have been able to beat the competition by figuring out competitor costs and working to eliminate those for themselves. By using their own couriers and passing commissions on the restaurants on the platform rather than the customer, it has been able to keep its hypergrowth steady.
They continue to hire at crazy rates as they steadily grow. As of now, they are looking to increase their number of developers by 250 employees and have no plans to stop.
Deliveroo provides a clear lesson for hypergrowth: Look at what your competitors are doing, study it, and then do it better. It allows you to learn more about making your own business more efficient while helping you grow rapidly. Growing your business is important, but so is improving it. Analyzing competitors can help you see where you can do better and capture more of the market.
Meditation, mindfulness, sleep, mental wellness. These are all popular topics these days, but how do you turn that into a successful (and fast-growing business)?
Build an app that provides that experience.
Rapid-growth startup, Calm, has fast become the top app for meditation and sleep with millions of downloads under its belt. It has guided meditations and exclusive music designed to soothe users and help reduce anxiety and stress.
Currently a small workforce of around 50 members, Calm has the potential to expand much further and scale at a pretty fast rate as their app continues to gain popularity.
Both Apple and Google recommend it and its popularity continues to soar. Calm goes to show that you can use popular devices and turn that into a tool to help people improve, and find happiness with their product. While not everyone can develop an app for everything, there is value in knowing what makes you unique and demonstrating how you provide value in a saturated marketplace.
When you think of a fast-growing transport startup, your first thought might go to Uber. And it is true, Uber is growing rapidly… but so are its competitors. Lyft has fast made a name for itself not only by providing direct competition to monopolies such as Uber but also by differentiating itself as a corporate brand.
Where Uber might be seen negatively, Lyft goes out of its way to demonstrate that its brand is inherently different — even if they are offering the same services.
Their commitment to moral leadership has helped set them apart while also giving them more leverage to grow. As they explore options such as cheaper rideshares and autonomous cars, their workforce continues to expand to match that level of growth.
They are poised to grow and are currently headed for an IPO which could lead to a world of possibilities when it comes to growth. Currently, Lyft has a fraction of Uber’s workforce at about 1,600 but this is a team that is dedicated to creating affordable transport options, so that number will grow… especially as Lyft eyes expanding to international markets to further compete with other ridesharing apps.
Effective Hiring for Hypergrowth
Although varied in their industries and areas of expertise, these companies all have the same thing in common: they are growing, and they are growing fast. Experiencing that kind of growth is great, but what is even better is sustaining that pace without losing a competitive edge.
The secret to effective growth is hiring the right people in the right roles. You’ll be onboarding new employees rapidly, so it’s important to make sure that you have the right processes in place to source, onboard, and train new talent. To learn more about how great teams can help you achieve new levels of growth and where to find this kind of talent, please contact us today.