by Pamela Scott Crace

Luckily for us, the people behind the wheels of the Fastest Growing Companies can talk and drive at the same time. In this issue of Progress they offer plenty of insights. For starters: in challenging times, make the tough calls but don’t belabour them. This is what Norm Richard of Atlantis Aviation advises, and he should know. His company is number one on the list this year.

Finding talented people is a major preoccupation of companies on the fast track. Most leaders agree that the best employees have a passion for their work and wide-open minds. Skills can be taught, but attitudes are born. 

Great followers want great leaders. The better you know yourself, the more you'll be able to build the right team around you. Remember: You set the example. You are the culture.

Seek complementary talents and experience. Consult your people widely and often. Set up the systems, partnership agreements, vision statements, etcetera, when things are still manageable. And values pledged and lived early on will survive the hairy times.

As soon as the team is in place, it’s time to start succession planning. I’m not joking. Still burning cash with negative revenue? No excuse. The key to success is starting early. Turn to page 59 for Trail Blazer’s story. And not just family succession. As Michael Morris of Cobham Tracking says, succession chains need to be in place at all levels.

Look for money when you don’t need it. Bob Cervelli of Origin BioMed spends a quarter of his time looking for more. And be alert. You never know when you’re going to come across the next deal. It could be the person sitting next to you in seat 12B.

Get outside advice. Almost half of the Fastest Growing Companies cite some kind of formal advisory group or board of directors. Trusted advisors can also be your family or friends. The bigger the stakes, the more formal you need to be.

Also important: Stay balanced and keep your sense of humour. Occasional breaks are a must.

Readers who know the wonderful, terrifying experience of running a business will benefit from these refreshers. And so will those who have been thinking about taking the plunge. 

If the entrepreneurial bug has been nagging you, maybe it’s time to listen. Many of this year’s  Fastest Growers admit to being smitten by the idea of having their own business long before acting on it. What has your inner voice been telling you lately?