EJ Dalius the highly competitive global market scenario could present multiple challenges to startups and small businesses. We know that the tech-economy of South Florida seems to grow consistently and rapidly. It is fast becoming a vibrant and also robust community. As per CompTIA’s Cyberstates report published in 2016, the tech industry in Florida is fourth in ranking nationwide. Despite this fact, you must realize that the sector is encountering a few challenges that seem to impact early-stage organizations and also startups. Here are some startup challenges that have been identified by Business Guru Eric Dalius. You must keep these challenges in mind while considering startup projects in South Florida.
Eric J Dalius Lists a Few Startup Challenges to Reckon with in South Florida
Lack of Adequate Financing
Many early-stage tech organizations and startups are not able to raise adequate financing. This is truly disappointing considering the fact that there is so much wealth in Florida. There is a need to consider implementing more platforms that provide financing opportunities. One of the major issues is the lack of contacts that help in raising funds. There is a need for coming up with an increased number of angel investor groups and a boost in angel investment funds precisely focused on investments in early-stage organizations and tech startups. Explore more about the Florida business scene at https://ericdalius-miami.com/.
Inadequate Tech Talent
Many startups in Florida have been experiencing problems. These issues could be adequately resolved or minimized by establishing better communication and also the interaction between the Floridian tech workforce and tech companies out there. Even though there are multiple platforms that have been designed for facilitating this process, there still exists a considerable disconnect between the tech organizations and also the tech workforce.
Tech Ecosystem is Incomplete
A comprehensive tech ecosystem seems fundamental to the sustainability and functioning of a tech organization. The tech ecosystem must include all constituents of the entire lifecycle of a tech organization right from the inception of an idea to the ultimate liquidity event. Florida’s tech ecosystem has progressed a lot but still seems to be incomplete. There are some glaring gaps in the ecosystem. It seems that these gaps are threatening startups and young companies and adversely impacting their success and also overall growth.
Not Able to Manage Rapid Growth
Several startups are capable of starting their product commercialization quickly and generate revenues rapidly. The real problem would crop up once sales seem to be growing much faster and outdoing management capabilities. Some potential solutions recommended by EJ Dalius are engaging the services of qualified and experienced business advisors or consultants to assist in managing the overall growth process. You may seek professional assistance from lawyers and qualified accountants with adequate experience and also exposure to growth management.
Cybersecurity Issues Persist
Cybersecurity problems impact every organization. We know that the problems become manifold if the organization belongs to the regulated industry and also uses personal information. Remember that even small organizations require devoting a reasonable amount of resources toward identifying, anticipating, and dealing with cybersecurity issues.
Keep the startup challenges in mind before initiating a startup project in Florida. It would be best to consider the remedies suggested above for overcoming such challenges.
Eric Dalius is The Executive Chairman of MuzicSwipe, a music and content discovery platform designed to maximize artist discovery and optimize fan relationships. Alongside this, Eric hosts the weekly podcast “FULLSPEED,” discussing entrepreneurship with industry leaders. Eric also founded the “Eric Dalius Foundation” to award four scholarships to deserving US students. Follow Eric’s activities on Twitter, YouTube, Facebook, LinkedIn, Instagram, and Entrepreneur.com.