What Does It Take to Be Ranked Among the Fastest-Growing Companies? 5 Critical Factors to Know - Rallio

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What Does It Take to Be Ranked Among the Fastest-Growing Companies? 5 Critical Factors to Know

This past week, Inc.com published its annual ranking of the top fastest-growing companies in the nation. Coming in at No. 1,226, Rallio has achieved its first-ever ranking on the national list. Previously, we also were listed regionally among the fastest-growing companies in California.

Earning a ranking on the Inc.com 5000 national listing of fastest-growing companies is a coup we’re quite proud of here at Rallio. 

“SocialWise, Inc., better known as Rallio, is honored to be included on the Inc.com 5000 national list and counted among many other outstanding, fast-growing companies across America,” says Chuck Goetschel, CEO of Rallio. “Our ranking is a testament to the dedication and passion our team puts into serving all our franchise organizations and small businesses nationwide. Our unique blend of social media technology, employee advocacy and local social media services is compounding success for our clients and resulting in fast growth for our company.”

With three-year revenue growth exceeding 360 percent, Rallio has worked tirelessly over the past few years to fine-tune our franchise social media technologies and services. Our accomplishments are represented not only by the Inc.com list of fastest-growing companies, but also our Entrepreneur magazine Top Franchise Supplier listings, our client testimonials, and our continual efforts to offer best-in-class service and support.

If you’ve ever wondered what it takes to be ranked among the fastest-growing companies, then read on for a few success factors you’ll want to know. Achieving this level of growth doesn’t come easily, but with hard work and perseverance — and maybe the help of a social media management company like Rallio with all-in-one solutions for businesses — you can make the list, too.

In short, the critical factors among fastest-growing companies are:

  1.  Grit
  2. Teamwork
  3. Flexibility
  4. Marketing
  5. Technology

Rallio among fastest-growing companies

Success Factor #1: Grit

To have one of the fastest-growing companies, you need a team that will do whatever it takes to succeed. It might sound cliche, but building this type of company takes good old fashioned grit. 

Not everyone is equipped to work in a fast-paced environment where you often have to self-manage, problem-solve, self-learn and determine your own individual growth goals. There isn’t going to be someone holding your hand every step of the way.

Build a team that’s willing to go the extra mile. Make it a part of your core values and your recruiting process. True grit goes a long way when you’re building the fastest-growing companies.

Success Factor #2: Teamwork

Each team member at Rallio has been hand-selected for their roles to maximize individual talents. We work both independently and collectively to further our company’s goal of being the go-to solution for business social media technology and services. 

Along with the grit factor, you need a team that meshes well. You want team members who can come together professionally, intelligently, with a good dose of positivity and good humor. If you can laugh together as you get your work done, that’s a bonus.

On a deeper level, your team’s ability to work well together speaks to your company’s culture and core values. When challenges arise, you have an opportunity to iron out the wrinkles and make sure everyone is not only contributing, but also being recognized and made to feel valued on your team. 

Posted by Rallio on Wednesday, March 11, 2020

Success Factor #3: Flexibility

COVID-19 has taught us to bend, not break, in the face of challenges. When the pandemic forced business closures and restrictions, we helped businesses pivot to continue marketing themselves. Just a few examples include:

  • Offering virtual classes and events
  • Using “live” formats to reach customers
  • Offering curbside pickup options
  • Adjusting in-store shopping experiences to keep customers and employees safe
  • Ramping up employee advocacy to extend reach on social media

While these uncertain times are unsettling for businesses, they’re also an opportunity to expand and think outside the box. How can you continue to pivot despite the bumps in the road?

Read more: Lessons Learned From the Pandemic: A Conversation With Franchisees

Success Factor #4: Marketing

Initially when the pandemic hit, some clients thought they should pull back on their marketing to save money. However, they quickly realized that slashing social media marketing budgets actually harmed their ability to connect with customers and new prospects. 

We saw some of our clients experience massive drop-offs in engagement on social media when they paused their social media publishing and advertising.

At a time when the world is spending more time online than ever before, now is the perfect time to get in front of them. “People are social distancing, self-isolating or quarantined. Now, more than ever, they need to hear from you — with messages of hope, reassurance that either you’re still up and running or you’re following necessary safety protocols (depending on the nature of your business), and perhaps some levity here and there,” we write in Why You Need to Keep Up Your Marketing Despite the Coronavirus

“Moreover, with more people likely to be on their phones, using their mobile devices to stay in touch, order online and connect with the world, you have an opportunity to connect with your audience like never before.”

Did you know that some of our locations offer online booking for grooming appts now? Be sure to check your local store…

Posted by Pet Supplies Plus on Wednesday, August 12, 2020

Success Factor #5: Technology

COVID-19 has also taught us the critical importance of technology. Rallio was able to switch to remote work when the pandemic hit without missing a beat, due to the technology systems already in place. 

Not only does technology keep us connected, but it allows us to continue providing the most cutting-edge innovations to our clients. The clients who likewise invest in technologies — like what we offer at Rallio — set themselves apart from their competitors. 

And technology isn’t only important during a global health crisis. As we discuss in Top 5 Predictors of Franchisee Success, “The franchise companies that continually invest in innovative technologies and systems are the ones that thrive. In turn, their franchisees are able to thrive as well because they’re able to gain and maintain a competitive edge.”

Further reading: How To Grow A Successful Business: Everything You Need To Know

The Significance of the Inc.com List of Fastest-Growing Companies

The Inc.com list represents a unique look at the most successful companies within the American economy’s most dynamic segment—its independent small businesses. Intuit, Zappos, Under Armour, Microsoft, Patagonia, and many other well-known names gained their first national exposure as honorees on the Inc. 5000.

“The companies on this year’s Inc. 5000 come from nearly every realm of business,” says Inc. editor-in-chief Scott Omelianuk. “From health and software to media and hospitality, the 2020 list proves that no matter the sector, incredible growth is based on the foundations of tenacity and opportunism.”

Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000

The top 500 companies are also being featured in the September issue of Inc., available on newsstands now. To view a press release about our listing, click here.

About Rallio

Rallio is a powerful SaaS combining social media technology, creative services and employee advocacy. As the supplier of choice for franchise organizations and small businesses, Rallio enables brands to manage their entire social media presence, online reputation and online directory listings in one dashboard for all locations. Business owners can either take charge on their own, with easy-to-use desktop and mobile technology, or recruit the help of Rallio’s in-house agency. Rallio’s motley crew of social media strategists, brand managers, designers, producers, writers, engineers, geeks, freaks, change-makers and born leaders helps businesses ditch boring content forever and light up their social media pages.

More about Inc. and the Inc. 5000

Methodology

The 2020 Inc. 5000 is ranked according to percentage revenue growth when comparing 2016 and 2019. To qualify, companies must have been founded and generating revenue by March 31, 2016. They had to be U.S.-based, privately held, for profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2019. (Since then, a number of companies on the list have gone public or been acquired.) The minimum revenue required for 2016 is $100,000; the minimum for 2019 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Companies on the Inc. 500 are featured in Inc.’s September issue. They represent the top tier of the Inc. 5000, which can be found at http://www.inc.com/inc5000.

About Inc. Media

The world’s most trusted business-media brand, Inc. offers entrepreneurs the knowledge, tools, connections, and community to build great companies. Its award-winning multiplatform content reaches more than 50 million people each month across a variety of channels including websites, newsletters, social media, podcasts, and print. Its prestigious Inc. 5000 list, produced every year since 1982, analyzes company data to recognize the fastest-growing privately held businesses in the United States. The global recognition that comes with inclusion in the 5000 gives the founders of the best businesses an opportunity to engage with an exclusive community of their peers, and the credibility that helps them drive sales and recruit talent. The associated Inc. 5000 Conference is part of a highly acclaimed portfolio of bespoke events produced by Inc. For more information, visit www.inc.com.

For more information on the Inc. 5000 Conference, visit http://conference.inc.com/

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