As a business owner, you know it can be difficult to sustain rapid growth. Whether you’re a one-man show or directing multiple teams, working with other businesses that recognize growth potential can help propel you forward by leaps and bounds. MIT45 is one such company, and was recently recognized as one of the fastest growing companies in the industrious state of Utah.
Interested in learning more about what this award could mean for you and your business? Check out the award criteria along with ways our fast growing company can benefit your business below.
What Does It Mean To Be a Fast Growing Company?
Although the term “fast-growing” lacks a general consensus or definition in the business world, fast-growing companies tend to operate with specific features that are thought to set them apart. Typically, companies that are growing quickly will:
- Generate earnings at a faster rate than the overall economy.
- Actively seeking out opportunities for growth, and ways to sustain that growth.
- Have a clear strategy that aligns new business ventures with established mission and values.
- Invest a large amount of resources into aspects like marketing, production, and administration.
- Offer profitable opportunities reinvestment.
These characteristics are thought to set them up for success in the future. Often, these types of companies are expected to increase profits in the years to come.
Advantages of Working With A Fast-Growing Company
There are many benefits of working with fast-growing company, including (but not limited to) the following:
- Name recognition: A brand name your customers know and trust.
- Strategic partnerships and alliances: Opportunities to enhance and hasten the growth of both parties.
- Industry leaders and expertise: The benefit of experienced leaders who are often the first to provide a product or service to the community.
- Innovation: Early adoption to new technologies, and able to predict and influence where the industry is headed next.
- High-quality personnel: Attraction of the right candidates at the right time to foster continued success, from customer service representatives to celebrity spokespeople.
- Feedback and flexibility: Ability to celebrate wins while simultaneously learning from failure.
In addition to rapid development, fast-growing companies are often fast-acting, too. They likely have the personnel to respond to questions, concerns, and complaints. They may also be better able to provide marketing materials or media assets, which can greatly impact your ability to get the word out about a product. In other words, a fast-growing company may be better equipped to help you “work smarter, not harder.”
How MIT45 Exhibits These Attributes
MIT45 is a unique company—it has the experience, expertise, and resources of more mature companies, but with a growth mindset and innovative spirit of a start-up. It’s the best of both worlds, and a happy medium that spells success.
Positioned as an industry leader, our rigorous testing goes beyond legal requirements. Additionally, MIT45 helps to set standards and promote industry-influencing consumer protection protocols. In terms of innovation, we’re interested in testing our limits when it comes to new products, while bringing kratom to the world in the right way (without compromising standards for purity or quality).
About the Fastest Growing Company Award
In today’s world, it can be tricky to tell which awards are legitimate, since companies can create their own awards…which are then awarded back to themselves. The Utah One Hundred (or Utah 100) award is different— it’s given by MountainWest Capital Network, an independent business networking group in Utah. The award helps to highlight companies who are achieving growth through the entire growth cycle of their company.
Understanding the criteria of the Utah 100 award can help illuminate why this recognition was such an honor to receive, and how it indicates true growth.
MIT45 co-founders Shawn Brady and Dalton Locke accept Utah 100 award.
Founded in 1994, the Utah 100 award is an annual list that announces the fastest growing companies in the state of Utah. It’s described as “the first and best of its kind,” and recognizes industry leaders in three categories for:
- The 100 fastest growing companies
- The top 15 highest revenue companies
- Emerging growth companies
Utah-based MIT45 was ranked #5 in a list of 100 fast-growing companies, which are ranked by their weighted average calculation of percentage and dollar growth over a period of five years. That’s a bunch of fancy financial speak, but basically, making this list means your company and earnings are growing, and expected to keep growing. It’s an indicator that you’re destined for continued success, and likely to see stable growth despite economic downturns other businesses are experiencing.
What This Award Means for MIT45
In a state known for its industry and innovation, being named on the Utah 100 list is a meaningful milestone. After a record-breaking year in 2022, this award confirms we are headed in the right direction with improvements and innovations made in 2023. It inspires us to reach new heights in the near future.
However, for MIT45, being named in the top five of the Utah 100 is more than bragging rights. It’s a testament to our company’s vision for the future, and our ability to provide value to customers without compromising on quality. We believe in doing the right thing in the right way, and are ecstatic that we’re reaping rewards in the process. AT MIT45, we hope to keep our reputation as the “gold standard” of the kratom industry, and to exceed expectations in years to come.
We’re proud to still be offering high-quality kratom to the masses (not skimping on quality as we grow). From humble beginnings to a thriving community, we still honor the same mission: to “bring peace, vitality, and relief to the world.” In our wholesale efforts, we aim to “introduce a billion people” to kratom, and this award is evidence that we’re on the way there.
MIT45 feels more like a community than a brand, so this award attests to the community we are trying to build not only nationally, but worldwide. It shows our commitment to invest back into sustainable growth. Basically, this award won’t be a fluke, but a milestone to look back on as we reach even higher heights as kratom continues to rise in popularity.
What This Award Means for You
As a company in a stage of accelerated growth, MIT45 offers you enhanced opportunities to grow your own business. Fast growth is an entrepreneurial challenge, and aligning with a fast-growing company means you’ll be working hand-in-hand with a business that’s capable of scaling with you. With MIT45 at your side, you’ll be better able to sustain growth and deliver products better-suited to customer needs.
Like other fast-growing companies, we are concerned with helping you meet consumer demand in an efficient way. We want to help you meet previously unmet needs in your business. We truly believe it’s possible for both parties to achieve more together than we would alone.
MIT45 provides a wide variety of products, meaning you’ll have a lineup with something for everyone (from first-time users to experienced kratom aficionados). You’ll also become part of our referral network, and we can send interested parties your way if they are a local customer looking to purchase in-person.
Working with MIT45 gives you an opportunity to gain expertise about kratom, too. Learning alongside MIT45 will motivate you to keep up with the industry, and you’ll be at the forefront of innovation and advancements. In short, working with our fast-growing company can give you an advantage over your competitors.
How to Become a Wholesale Partner
If you’re feeling especially excited by our fast-growing culture, there’s a way for you to get involved today. MIT45 is actively looking to partner with like-minded, motivated people like you.
Becoming part of our wholesale program opens you up to unique incentives and special wholesale pricing. Plus, you’ll get a $50 credit towards your first wholesale order by just completing our interest form! Allow us to help you grow your business to the next level and help you leave your mark on the world.
A Final Word on MIT45’s Fast Growth
Some companies grow quickly, but fail just as fast. At MIT45, we’re committed to sustainable growth, an effort that recently landed us in the top five of Utah’s 100 fastest growing companies list. Essentially, we’re growing fast in an effort to continue our mission to bring the best quality kratom to the world— and we’d love for you to join us.
Ready to join us on the road to success? FIll out our interest form today to start scaling your business.
References
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MountainWest Capital Network. MountainWest Capital Network Announces 2023 Utah 100 Honorees. Mwcn.org. Published September 2023.
MountainWest Capital Network. MountainWest Capital Network releases 2023 Utah 100; AZOVA named to the top spot. Mwcn.org. Published October 2023.
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