For the co-founders of Bridgit, a Waterloo-based startup that helps contractors manage construction projects, 2015 was all about accomplishing their goals.
That might not sound like much, until you realize that one of those goals was to maintain a 20 per cent month-over-month growth rate.
“Looking back on the past year, we delivered exactly what we had promised, both to our investors and to our team,” says Lauren Lake, Bridgit’s co-founder. “We’ve been ultra-focused on execution and hitting our sales numbers every month and hitting all those milestones that we set at the beginning of 2015.”
Lake and her co-founder Mallorie Brodie are finalists for Entrepreneur of the Year at the Canadian Startup Awards, while Bridgit is a finalist in the Startup of the Year category.
“We’re seeing the same growth rates we were a year ago, approximately 20 per cent month over month,” says Brodie. “Today, our revenue is in line with where we predicted it would be. For that to happen it was a full team effort whether that’s our sales team closing new deals, customer experience expanding existing customers or development making a sticky product that our users love.”
Lake says building that team was a matter of smart hiring and creating a company culture focused on maintaining momentum.
“We’re in execution mode constantly and there’s always another goal to hit and there’s always the next target for the next month,” she says. “You never hit a milestone and then relax afterwords.”
She says it’s an attitude that starts at the top.
“We’re just super scrappy, Mallorie and I started off being really scrappy,” Lake says.
Still, it wasn’t easy.
“The biggest challenge was definitely scaling our sales team, because we went from just one person doing sales to building our first sales team and that required a lot of trial and error, making sure our sales process was actually scalable,” Lake says. “We were able to keep up the momentum definitely, while working through those challenges.”
While construction might have a reputation for being a low-industry, Lake says that’s changed.
“Today’s teams are quite different than they were even two years ago, they’re very equipped now with the latest hardware, with iPads and smartphones,” Lake says. “It’s really changed very quickly, I would say now construction teams are actively looking for those technology solutions to implement.”
Lake says Bridgit’s next step is an aggressive expansion in to the U.S.
“Right now we’re aggressively expanding into New York,” Lake says. “We started that a just a couple months ago and we’ve already brought on some really high-profile projects in New York City. We’re continuing with the U.S. expansion, targeting additional cities after we sort of saturate the New York market a bit more.”