Selectively adding investments in high growth ASX small cap shares/companies can be an effective method for spicing up the returns on your Australian shares portfolio.

Whilst the media typically concentrate their time on the biggest companies within the Australian share market, it is the lesser-known names at the smaller end of the market that typically offer the opportunity to strike it rich on the share market.

Today’s household names were yesterday’s unknowns. Market darlings such as Flight Centre Travel Group Ltd (ASX: FLT) and Pro Medicus Limited (ASX: PME) were once relative minnows that barely rated a mention within investment circles.

Finding tomorrow’s high flyers is no easy task and fraught with danger for the uninitiated. You don’t want to be going in all gung-ho only to see your investment in the next big thing go up in smoke. Before a company can become consistently profitable it has to start generating revenue. In the early stages, the pace of that revenue growth can be a key indicator as to the viability of the product or service being offered to the market.

Looking at companies exhibiting strong revenue growth is just one method I use to nudge the odds of finding the next big winner in my favour. Below I look at 2 ASX small-cap shares primed for strong growth.

Serko Ltd (ASX: SKO)

Serko is a leading online travel booking and expense management provider with over 6,000 corporate clients including the likes of Telstra Corporation Ltd (ASX: TLS).

The business has been gaining traction thanks to the growing demand for its services along with a string of acquisitions. Last month the company released its 2019 annual report. Note: the company has its headquarters in New Zealand, where the financial year for companies runs from April-March. The annual report showed a 28% increase in revenue on the previous year. Management notified the market that it expects revenue growth to be in the range of 20-40% in the coming 12 months.

Volpara Health Technologies Ltd (ASX: VHT)

Volpara is a medical technology company founded in 2009 that uses artificial intelligence (AI) imaging algorithms to assist in the early detection of breast cancer.

Volpara has built strong momentum in recent years and just last week completed their acquisition of MRS Systems, which is a leading provider of breast clinic practice management software based out of Seattle, USA. The company funded the acquisition via a $55 million capital raising. With revenue growing at a sharp rate and a high level of operating leverage Volpara is unlikely to fly under the radar for too much longer.

Buy, Hold or Sell

While higher risk, both companies offer the potential for huge growth over the coming years but if forced to choose between them I’d pick Serko for its more diversified revenue base and also due to the risk involved with Volpara successfully integrating the large acquisition of the MRS Systems business.

Finding ASX shares offering exceptional long term growth and dividends over 3% is rare. Fortunately, the Rask Group's top expert investment analyst has released a FREE investing report which reveals proven ASX shares.

These three companies have proven themselves to be reliable dividend + growth shares over a decade. Click here to get instant access to his report.

Past performance is not indicative of future performance but as he says in his report, there are many reasons to keep a close watch on these 3 shares in 2019 and beyond.

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Disclaimer: Any information contained in this article is limited to general financial/investment advice only. The information has not taken into account your specific needs, goals or objectives, so please consider consulting a licenced and trusted adviser before acting on the information. Please read The Rask Group’s Financial Services Guide (FSG) for more information. This article is authorised by Owen Raszkiewicz of The Rask Group, which is a corporate authorised representative No. 1264179 of Strawman Pty Ltd (ACN: 610 908 211) (AFSL: 501 223).

Disclosure: At the time of publishing, Luke has no financial interest in any companies mentioned.