In the fast-paced world of technology, the impulse to grow rapidly can be overwhelming for young companies. Strategic growth rather than rushed expansion often determines long-term success.
HiveIT’s journey underlines the importance of controlled growth, emphasising that saying no can be as crucial as chasing opportunities.
Deliberate Growth Over Rapid Expansion
Jonny Rippon, the founder of Sheffield-based HiveIT, shares his insights on why new businesses should avoid growing too quickly. “A weird challenge was not growing too fast too quickly, because you can do,” says Rippon, highlighting the importance of self-restraint.
Acknowledging the allure of immediate expansion, HiveIT has taken a counterintuitive stance by avoiding risks that can lead to chasing losses. This disciplined approach focuses on sustainable growth and only hiring when necessary.
Building a Culture-Driven Company
HiveIT stands out in its commitment to aligning work with its values, a principle that shapes their business decisions. They choose projects that resonate with their ethos and culture, reflecting a forward-thinking approach.
Account manager Sooze Tooze expresses pride in their ability to remain selective. “Everyone we work with fits our culture and ethics,” she remarks, underlining the significance of cultural fit and ethical alignment.
Recruitment and Retention Through Values
Sooze Tooze, formerly of Technophobia, highlights the role of company culture in attracting talent. This cultural focus not only attracts employees but also encourages long-term retention, fostering a unified work environment.
“For a business that’s only three years old,” Tooze states, “being able to stick to projects and clients they really want to work with is quite an achievement.”
This commitment to values has been instrumental not just in recruitment but also in retaining motivated and enthusiastic employees who share the same goals and principles.
Strategic Project Selection
HiveIT doesn’t just accept any project; they focus on those with social and environmental impacts. Sooze Tooze emphasises the satisfaction derived from working on meaningful projects, though they are sometimes limited by the need to remain profitable.
However, the ability to choose projects that align with their values stands as a testament to their disciplined business model. It reflects a broader trend in the tech industry where purpose-driven work is increasingly valued.
The Risks and Rewards of Selectivity
While their selectivity poses a potential risk of missing out on immediate opportunities, it also rallies their team around shared goals and values. This risk is outweighed by the long-term benefits of committed, value-aligned work.
HiveIT’s experience shows that selectivity, while potentially risky, reinforces their brand identity and workplace satisfaction. It is a calculated risk that has so far proven beneficial.
Maintaining a Lean Business Model
HiveIT adopts a lean business model to navigate the challenges of growth, deliberately avoiding unnecessary risks and costs. This approach has enabled them to focus resources on strategic priorities.
By employing only when justified by workload, HiveIT ensures they maintain flexibility and financial stability. This practice allows the company to adapt swiftly to market changes without overextending themselves.
Long-Term Vision and Flexibility
HiveIT’s strategy centres on long-term thinking, balancing immediate needs with future aspirations. By prioritising a stable and flexible growth path, they ensure sustainability in their operations.
HiveIT’s story illustrates the critical balance between growth and caution in the tech industry. Their experience offers valuable lessons on sustainable growth, cultural alignment, and strategic decision-making.