At the end of 2019, Hop In Tech was ready to change public transit. Who would have predicted that in a few short months, the demand for public transit would plummet to levels unimaginable.
This fall in demand was a major crisis for anyone involved in the transportation industry, and new startups like Hop In Tech were especially vulnerable. But clear thinking and business strategy allowed Hop In Tech to not only survive the pandemic, but to thrive.
Hop In Tech’s leadership saw that their small business and relative youth as a company was actually an advantage in the COVID-19 crisis; their small size meant that they could pivot and change their business model with relative ease in a way that some companies were struggling to do.
Lessons to Learn From Hop In Tech: How to Grow a Small Business
Being Conscientious as a Small Business Is an Advantage
Boyd Reid, Co-Founder and COO of Hop In Tech, says that companies who have a conscientious and community-minded approach to their business have an advantage over those that don’t. Sometimes it’s even worth passing on investors who don’t share your business’s values.
The problem is that many small business owners feel that when they are starting out, there isn’t enough capital; resources are stretched thin, so it seems it isn’t possible to give back to the local community in the early days. But Boyd argues that adding systems early on for giving back means that, as the company’s fortunes rise, it will be easier to donate to good causes. Since that’s how the company has always functioned, it’s already built into the company’s mandate.
Don’t Be Afraid to Ask for Help When You Need It
We all need help once in a while, and entrepreneurs and CEOs are no exception. In a leadership role, it can feel difficult to ask for help, but great things can happen when CEOs reach out to colleagues for assistance. As Boyd explains, when Hop In Tech’s leadership faced the coronavirus crisis, asking around for ideas and support and asking health experts for the current science on what transportation needed to do to operate safely was a key to Hop In Tech’s success.
A major theme of the Company Growth Podcast is that leaders don’t have to struggle alone. Support is everywhere if you allow yourself to ask for it, and the Company Growth Podcast features inspiring entrepreneurs who share their company growing pains. These experiences show that company growth is a journey with plenty of ups and downs.
Listening to the experiences of other successful entrepreneurs will absolutely help you grow your business.
In the Hop In Tech Episode of the Company Growth Podcast, Learn:
- Why hiring recent grads and investing in their professional development is a good place to start if you're learning how to grow a small business
- What it means to be a conscientious company in 2021,
- What it was like to work and grow in the transportation industry during COVID-19, and
- Much more!
Check out the Company Growth Podcast: “Hop In Tech Is Improving the Way Employees Commute” streaming now on your favourite podcast platform!
To browse more episodes by topic, visit the Company Growth Podcast webpage.
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