Canada's Top Growing Companies - Growth & Challenges

Unveiling the Secrets of Success, Growth, and Challenges with one of Canada's Top Growing Company: Webtmize

We at Webtmize are very proud to make the list of fastest growing companies in Canada. Thanks to the persistence, dedication and growth of our team we were able to grow by 567% in the last 3 years!  We are confident to make that list again next year. As founder and CEO of our Montreal-based performance marketing agency, I wanted to share some of the key learnings from the forum at the Globe and Mail office in Toronto, where we joined other top growing companies to celebrate and discuss our journey.

The secret to success: insights from inspiring CEO’s

Several important elements stand out as being crucial in building a successful workplace and supporting a company's growth. 

• The ability to effectively implement a vision and the presence of a clear vision comes first. The company is guided toward its objectives by this vision, which acts as a guiding star. 
• Second, it is essential to be willing to refine and grow service offerings over time. Because of its versatility, the company can stay competitive and relevant in a constantly changing industry. 
• Equally crucial is a participatory decision-making process that enables interns and staff members of all ranks to offer insightful commentary that might otherwise go unnoticed. 
• Additionally, employee profit-sharing schemes and unexpected incentives during lucrative periods encourage hard work and dedication in addition to fostering a sense of ownership. 
• Last but not least, the quick dissemination of positive feedback is a potent instrument for inspiring and motivating staff members, reiterating the important role they play in the success of the company as a whole.

These five components work together to create a vibrant workplace that not only runs smoothly but also enables its workforce to produce amazing achievements.

How does flex work actually work?

Bailey Roth, from Redstone Agency, emphasizes Gen Z's imminent entry into the workforce, urging businesses to adapt. Here are the key points she mentions.

• Transitioning to a 4.5-day workweek with refined parameters is a notable adaptation for enhanced efficiency.
• Encouraging employees to meet with different teams on varied days prevents isolated working silos.
• The introduction of a 6-8 times per month in-office rule fosters meaningful interactions and closer connections.
• The impact of leniency in work arrangements on retention is a critical question, with many businesses acknowledging its influence.
• A growing trend sees people leaving and returning to their jobs as they realize that the grass isn't always greener elsewhere in the job market.

The perils of rapid company growth

Dan Park, CEO of Clutch, highlights a concerning trend in the startup landscape: an increase in business bankruptcies in the year leading up to Q3 2023 compared to the previous year. He mentions the following.

• The near-future outlook remains challenging, with the anticipation of more struggling companies and potential failures in 2024 and 2025.
• 2026 is expected to reveal the resilient champions that have weathered the challenges.
• The availability of venture capital remains uncertain, emphasizing the need for startups to operate judiciously.
• The current economic climate draws an analogy to a poker game, you can only play with what you know, emphasizing the importance of making the most of available resources and knowledge.
• Even larger companies can face setbacks, such as Uber's substantial expenditures in China, leading to their defeat by DiDi.
• Rapid company growth can pose complexities, including strains on people, processes, systems, and leadership.
• Being the first to enter the market provides a significant advantage in gaining market share, illustrated by the success of Skipthedishes in the Western market.

Let’s talk and work together

Ready to take your business to the next level with a 360 digital marketing strategy? Contact us today, and let's make your vision a reality. Our team is eager to hear from you, understand your unique goals, and craft a tailored strategy that drives success. Your digital future begins with one click. Don't miss out – reach out to us now, and let's embark on this exciting journey together!