CHALLENGES IN KEEPING UP
In May, 6Connex was on a speeding train of growth. Seven months later, that train shows no sign of slowing as the company's employees have more than tripled in number.
Virtual events are hot right now. They're mainstream. For a local virtual events facilitator like 6Connex, that means business is booming as the Covid-19 pandemic has squelched in-person events. The company's local and global employees at satellite offices grew from 15 to 60 in May; now, that number has swelled to 200, CEO Ruben Castano said. In May, revenue was projected to be about $20 million. While Castano declined to provide an exact number, he said that projection today is "significantly higher."
"Most of your colleagues in other industries are on the other side of the spectrum," Castano said. "Us? We've never worked ay harder in our careers. It's a crazy ride."
Castano said 6Connex is getting 200 to 400 leads a week. Now, it has become about keeping up with an industry that moves the needle further each day. An analysis from Grand View Research projects the global virtual events industry to reach $404.45 billion by 2027.
Knowing the growth 6Connex is experiencing today, Castano said one thing he would have done differently from the beginning was hire more to keep up with the pace.
"While we felt we moved fast, you could always do things faster. What I mean by that is scale," Castano said "Knowing what I know now, I would have brought 200 people back in March."
With the first wave of Covid-19 vaccine distribution on the horizon, the pandemic will slow, but 6Connex doesn't expect business to slow with it. The pandemic has brought virtual events to the forefront of companies across the globe, and Castano sees virtual aspects becoming an integrated staple across all events going forward.
"You're going to have companies that are going to want to leverage both a physical event for people that can travel and the more intimate gatherings, and you're going to want to extend your reach to those who simply can't travel there, or they're all around the world and you don't want to have that expense," Castano said. "So it becomes a much broader connection."