Xero just released their latest firm benchmark report in Canada (with findings that I think are applicable to firms all over the world).
It compares how firms are performing against each other and I have been working on a blog piece behind the scenes for the past 2 weeks summarizing 10 different insights that I was able to pluck out.
In it, one thing sticks out.
Pacesetting firms (the top 10% high growth firms of the survey) are growing at an annual rate of 31.3% compared to the others growing at an average of 9.4%.
That’s 3.32x faster!
(check my math, I’m a CPA, but I’m terrible at numbers - 31.3%/9.4% = 3.32)
Which begs the question, what are they doing differently?
Well, you’ll have to read my findings (with some cool charts) to get the full low down, which you can find here
, but in a nutshell, they use more technology, they are much more process-oriented and they spend a ton more in marketing.
Not only are they bringing in more business but they are ensuring that they have a well-oiled machine that can do more with less.
So how can you grow as fast as these pacesetting firms?
On another note, you can learn how to be a pacesetting firm by heading to one of Xero’s free roadshows across North America Canadian dates here
& US dates here
) throughout October & November as you’ll hear about ways to implement technology and streamline your processes.
And now to this week’s Future Firm Weekly Top 5: