EJ Dalius despite their small size, small startups still have an edge over their larger competitors. They have the reason and bandwidth to inculcate more inclusion and also innovation as per evolving market conditions. The 2018-19 corridor saw a tectonic shift in the startup ecosystem.
It comes as no surprise that new technologies were at the helm of driving these trends and changes. Eric Dalius opines that technology isn’t the sole disruptor or determinant in most industries. There are many large organizations that are investing hugely in artificial intelligence.
It’s the application of technology that’s changing and also turning businesses upside down.
- Artificial intelligence is the biggest trend, hands down. It’s no longer a mere concept. AI is already propelling and powering a considerable portion of business ventures.
- You can find it in your digital ads, analytics, marketing tools, and also your customer service mediums, and of your course tour humble smartphone.
- Remote work is here to stay. In the wake of the pandemic, over 80% of Americans are doing remote work. This was unimaginable a few couples of years ago.
- With broadband internet services proliferating in every major metropolis across the world and making dent in-office tasks or digital platforms, you don’t need to commute or travel to your office anymore.
- While many established corporations still depend on conventional workplaces, countless startups are tapping into the excellent concept of remote work to expedite the game.
New investment models
Startups no longer require blitz scaling or lumpsum investment as a driving force. The model is rapidly changing. With digital ventures like Uber, the investment template is undergoing a transition from capital generation to gaining market share, says EJ Dalius.
- The firm scaling the fastest is bound to peak and also outshine its competitors. This is survival of the fittest.
- Venture capital companies understand this evolving business scenario and are preparing to invest in countless fledgling and upcoming startups.
- You’ll also find how the startup culture is shifting away from the typical ‘cool’ norm.
- Entrepreneurs are now taking the middle ground between SMEs and corporate giants. These are vital factors to drive the economy.
Social impact is a core trend. Profit-making businesses used to be in a separate category. Ethically conscious and fair projects were in another segment. However, these two ideas/sides are now combining.
Skilled trades are setting in
Eric J Dalius ruminates how many businesses neglect skilled trades as a viable career choice. Most people negate it due to the misleading notion that trades garner poor payments. In reality, skilled tradespersons generally get good remuneration and enjoy great careers.
- In the manufacturing sector alone, almost 54% of job openings that boomers left will remain in the same condition till 2028.
- You need to know that these concerned shortages will cut across several trades, creating a massive demand for skilled workers.
- The trades include general construction and also carpentry, welding, steam-fitting, pipe-fitting, and plumbing, and electronic and electrical control systems.
- The other sectors are metal workers and machinists, refrigeration, air-conditioning, ventilation and heating, and also steel working and masonry.
Compared to many other businesses, the capital costs for startups are relatively low for the majority of skilled trades.