We are always talking about the difficulty in recruiting people into the security services industry at the field level, but what about the companies themselves?
There was once a time in this industry where it seemed like a new integrator would pop up every month or so – guided by an executive who came from the vendor side of the industry; or by a talented technician who thought the time was right to go into business and become their own boss; or even by an enterprising security director who thought the same thing.
Are those days over?
Things seem to be tough for the smaller businesses and the startups at the moment. Margins are tight, and behemoth companies are being formed primarily through mergers and acquisitions – often on the backs of those very companies that sprung up 25 or 30 years ago and evolved to become one of the big players in their region, space or market.
So, is our industry shrinking? Are there fewer opportunities? Perhaps, but all hope is not lost. I think of my friend Chad Gordon as a great example. He recently helped launch an integration company, called Visible Intellect, because he found an avenue into this industry that was vastly underserved – the cannabis market. Read more about his challenges and opportunities in our July 2018 cover story, A Growing Opportunity.
Without knowing about these newer companies emerging and entering into the security integration market, we may never be very clear about the actual business climate for startups. That’s why our annual Fast50 program can be so important.
"Fast50 is an opportunity for a young company to plant its flag on the security industry map and let everybody know that yes, there is new blood...Yes, there is business innovation and growth from the ground up happening among security integrators. And yes, there is more beyond the handful of giant companies dominating the news.”
Most of us know the list of the top integrators – ranked by RMR – by heart, because it hardly changes from year to year. We can gain a clearer understanding of the other end of the market – the emerging companies who have only been on the scene for a few years, or five years, or even 10 – by using the Fast50 as an industry measuring stick.
Even if you don’t think your company will land at the top of the rankings for year-over-year growth, the program is a tremendous opportunity for a young company to plant its flag on the security industry map and let everybody know that yes, there is new blood in the security industry. Yes, there is business innovation and growth from the ground up happening among security integrators; and yes, there are more integrators beyond the handful of giant companies that are currently dominating the news and the business landscape.
If you are a growing integrator that is less than five years old, please drop me a note and let me know you are out there. I can publicize your successes and help you grow even more.
Learn more about and enter the Fast50 at www.securityinfowatch.com/fast50.
Paul Rothman is Editor-in-Chief of Security Business magazine. Email him at [email protected]. Access the current issue, full archives and apply for a free subscription at www.securitybusinessmag.com.