TorontoJobs.ca Earns a Spot on the 10th Annual PROFIT HOT 50 Companies
The PROFIT HOT 50 is the definitive ranking of Canadas Emerging Growth Companies. Published in the October issue of PROFIT magazine and online at PROFITguide.com, the PROFIT HOT 50 ranks young firms by two-year revenue growth.
"The PROFIT HOT 50 have achieved phenomenal growth rates despite a battered economy. Their success is a testament to their innovative approaches to satisfying the demands of the marketplace and managing their own companies," says editor Ian Portsmouth.
We at TorontoJobs.ca have put together a list of the top five things that have attributed to our success and growth over the economic downturn which we feel are a vital success to any small business. The top 5 include:
1. Staying in tune with changing trends, technology and the economy. With the continuing changes in the internet, it has become vital to stay on top of changes in the industry, keep a close eye on economic factors that affect business and ensure to have an aggressive edge by researching the competition, new technology and trends of demographics. Taking risks and keeping up with industry demands is important with todays fast paced, unpredictable economy.
2. Always overestimate expenses and underestimate revenues. No matter how much a company budgets and plans there are always going to be situations where a company has additional costs that were not planned for and revenue goals that were overestimated. Always plan on spending more than expected and be conservative when budgeting for revenues.
3. Take advantage of free advertising available. There are a wealth of ways that a new business can advertise without spending a penny. Starting a business related Facebook Group, creating a group on LinkedIn, uploading videos on YouTube, Twittering about up coming events, creating partnerships with other industry-related small businesses and creating monthly newsletters to communicate with clients are all incredible ways to grow your business at no cost.
4. Participate in networking opportunities. Join industry-related associations, Board of Trade organizations, local small business networking groups, etc. Introduce your business to as many contacts as you possibly can. Ensure to have your company information and business cards ready at any networking event. Present to industry association events. Creating relationships will be extremely beneficial to the future success of your organization.
5. Provide outstanding customer service. These days excellent customer service is hard to come by. Developing and training staff is one of the most important strategies that should be implemented into a business plan. Having passionate employees that understand the business and how they can meet the needs of clients will be a large factor to increasing revenues.
About PROFIT Magazine:
PROFIT: Your Guide to Business