Alexander Rink, chief executive of 360pi, points to three factors when explaining what drives his companyâs impressive growth.
Alexander Rink is the CEO of 360pi.
by Jacob Serebrin
âNo. 1, it starts with the market that youâre in,â he says. âIt has to be a market with what I call tailwinds.â
He compares growing a business to cycling: itâs a lot easier to ride with the wind instead of against it.
âWe happen to be focused on a market, the overall retail market, that is undergoing a lot of change and disruption. Thatâs our starting point,â he says. âThen, to serve that market, you need to have a great solution, and I believe we have that.â
The third piece of the puzzle? âYou need to have an excellent team,â Mr. Rink says.
Still, that doesnât mean the companyâs path to success has always been smooth.
âI think any kind of sales process is a challenge. Nothingâs ever a gimme in business,â he says. âItâs in doing that, especially against strong competition, that you become a better competitor, a better performer.â
360pi has found success in the fast-growing market of price intelligence â in which retailers are eager to see what their competitors are offering and at what price â by serving large brands such as Ace Hardware and Best Buy Canada.
âThose are the ones that tend to have the most sophisticated requirements, and we are very strong in the quality of our intelligence that we provide to them as well as our service. That tends to be valued more by the largest retailers and brands,â Mr. Rink says.
Manufacturers of fast-moving consumer goods, a varied category that typically includes high-volume, low-margin items and ranges from packaged food and drinks to toys and cleaning products, are a new focus for 360pi, and the company recently added a new product aimed at those brands.
âIâd say one of the keys to our growth has been our flexibility and our adaptability,â Mr. Rink says. âWeâre just starting down the path in that space, but thatâs an indication of our willingness to listen to the market, see where the opportunities are and to modify our path accordingly.â
No matter what, the solution has to be top-notch, he says, and rigorous quality control plays a big role in ensuring that.
âWhat our customers are looking for is the best solution and the best service, the highest level of reliability,â he says. âThatâs what weâre completely focused on.â
But he remains far from satisfied.
Year founded: 2008
Local head count: 40
Key markets or customers: Best Buy Canada, Ace Hardware, Overstock.com
Product or service: Product and price intelligence
Three-year revenue growth: 175 per cent