This week, leading up to our April 20 edition of the Vancouver Business Journal, we are shining the spotlight on the 2011 Business Growth Awards (BGA) finalists.
While each finalist represents a unique industry, offering products or services unlike the rest, there is a common approach that many finalists take regarding growth in a downturn economy.
“Once we really realized there was a recession, our attitude was you lie down and be slaughtered or you stand up and fight harder. So we actually increased our advertising budget,” explained Amy O’Hara, who owns When the Shoe Fits along with her husband, Allan.
When the Shoe Fits is joined by Ryonet and Westby & Associates as finalists in the 2011 BGA “Fastest Growing Five-to-Ten Years” segment.
In 2011, the high-end shoe store saw total income increase nearly 9 percent over the previous year. The retailer hired five additional employees and, in October of 2011, opened its Grand Central location – the company’s third store in Clark County. With its proximity to SR-14, O’Hara said the new location allows When the Shoe Fits to better tap into the Portland market.
“We didn’t intend to open the third store,” recalled O’Hara. “The opportunity came up, the rates were good and I remember looking at Allen and saying, ‘this is that point to go for it. This is the time to grow because (the market) is going to turn around, it always does.”
Hasson Company Realtors’ Patrick Ginn, one of six finalists in the 2011 BGA “Fastest Growing One-to-Five Years” segment, also seized opportunities in 2011. Ginn completed 61 transactional sides with a total sales volume of roughly $15.4 million in 2010. With a mindset to grow, he then added two members to his team and accomplished 157 transactional sides with a total sales volume of approximately $47.6 million in 2011.
“I have awesome employees, which is obviously key to anything and you can’t state that enough,” said Ginn. “And another thing is the common traits for entrepreneurs – the hard work, the dedication, staying late and working weekends.
“It all goes back to your relationships,” he added. “As you establish yourself, you gain referrals and a reputation and that helps cement your place in the market.”
Joining Ginn’s team in the “Fastest Growing One-to-Five Years” segment are finalists Aadland Dental, Acuity Group PLLC, Pacific Perks Coffee, Pacific Energy Concepts and Premier Pump and Power LLC.
