Your Mid-Year Update: 2019 State of the Startup
We’re halfway through the year, and it’s time to take a look back and evaluate all those predictions everyone made in January to see if they have panned out.
We’re halfway through the year, and it’s time to take a look back and evaluate all those predictions everyone made in January to see if they have panned out. For startup owners and small business CEOs, a lot can change in six months, so it’s good to take a moment for a bird’s eye view. In today’s blog, we’ll look at what went big for startups this year, what didn’t, and what you should keep an eye on for the next six months of the year.
So, without further ado:
Artificial Intelligence, blockchain, and healthtech have seen some serious implementation among innovative startups on the tech scene since January, and it’s definitely paying off. Last year, AI startups were funded at unprecedented rates, and that trend hasn’t slowed down at all as the year has gone on. Blockchain developers are also still in high demand, as more and more businesses recognize that value of investing in that technology. And finally, healthtech startups have seen tremendous growth, especially where personalized technology is concerned.
The takeaway: Cutting-edge technology is all the rage, no matter your business sector. If you haven’t modernized your systems to take advantage of these new tools, it may be time to do so.
What Didn’t Work…
This year, we’ve seen a lot of companies push for explosive growth right out of the gate, only to falter when they didn’t have the foundations in place for that kind of expansion. Over-expansion without proper planning, guidance, and infrastructure, is a recipe for disaster, but some VCs and even some founders think that growth = progress. It just doesn’t work that way: you have to be prepared before you can grow.
The takeaway: Don’t sacrifice long-term stability for short-term growth if your startup isn’t ready.
What to Watch…
From data management to modernization, right now personalization is the name of the game. Across the board, businesses are using all the data now at their fingertips to provide an individualized user experience, as well as better target their user’s needs. The businesses that will succeed in the future—both large and small—are those that incorporate the tools that technology provides in order to better serve their customers and keep up with the competition.
Protip: If you’re a startup, you’re uniquely placed to pivot and take advantage of some of those trends long before your bigger competitors.
The takeaway: It’s time to harness the technology at hand to better reach your customers and make your staff’s job easier. Are you on board?
If you’re a startup owner looking to catch the modernization trend before it’s too late, you’re in the right place. At 72® Services, we bring expert software development, extensive training, and customized processes to your young company, to ensure that you’ll have a smooth path as your business grows.
Six months is a long time for a startup. If you transform your IT systems with us, who knows where you could be six months from now?