Past Winner Highlights: 2016 Florida Companies to Watch
A typical Florida Companies to Watch class is comprised of businesses who collectively gross over $450 million in annual revenue, add more than 350 new jobs per year, average a 30% increase in earnings and experience almost 20% growth in employees annually. They represent great companies from throughout the state of Florida. Meet four of our past winning companies!
Jack Berlin, founder of Accusoft Corporation, has been a serial entrepreneur in the digital imaging vertical for 25 years and his company now holds 30 imaging patents. โAccusoft offers a robust portfolio of document and imaging tools created for developers,โ he said. โOur APIs and software development toolkits provide high-performance document viewing, advanced search, image compression, conversion, barcode recognition, and OCR for use in application and web development.โ
In addition to the companyโs numerous patents, Berlin points to corporate culture as a competitive differentiator. โOur core values and company culture make us stand out,โ he said. โAccusoft fosters a competitive and positive work environment, and we are a place where people want to come to work every day. Even as weโve grown into a large organization, we have a small business mindset where we value and support each individual employee.โ
For Berlin, being recognized by GrowFL as a Company To Watch is a humbling honor on multiple levels. โTo be named a winner of the GrowFL Watch List is a huge honor for us because it acknowledges our success as a company and our dedication to the Florida community,โ he said. โIn addition, this year marks Accusoftโs 25th anniversary, and that type of achievement is only possible through our innovative products and loyal team. For us, this award recognizes all of our hard work and commitment to this company. Lastly, bettering the Tampa community is a major focus of the Accusoft mission, and our employees donate their time and talent to helping the community. To be awarded by our own community for our efforts is special.โ
Berlinโs advice for aspiring entrepreneurs is to trust your instincts while prioritizing tasks. โGo with your gut,โ he said. โIf you have a great idea, a go-getter attitude and a solid team, you will go a long way. Iโve had to make tough and risky decisions, but each one has excelled Accusoft as a company, and that comes from trusting my intuition and having a strong team behind me. Also, prioritization is key. As an entrepreneur, getting into the habit of deciding what needs to get done from day-to-day can be difficult, but ultimately, it will free up your time so you can focus on whatโs incredibly important.โ
โAfter retiring from retail automotive, I learned that retirement wasnโt for me,โ Daniels said. โThe difference is now you can hang a television on a wall and broadband is widely available which was not the case years ago. All the stars aligned. I did some research and the next thing you know Iโm all in going 100 mph with my hair on fire.โ
ABN partners with 72 content providers led by CBS to provide family-friendly entertainment for customers to view while in auto dealersโ waiting areas. ABN produces informational and promotional content allowing the dealer to decide how it wants to communicate to the customers while they are in the dealership building. โWhen I was in automotive retail, I saw my customers in the waiting area watching TV that was broadcasting the commercials of my competitor down the street and I thought โthis is crazy,’โ Daniels said. โIn addition, I saw them watching shows like Jerry Springer that I would never allow in my home and I knew there was a better alternative.โ
Danielsโ advice for aspiring entrepreneurs is that they have been told a lie that cash is king for startups. โCash is king, queen, jack and all the way down,โ he said. โWhatever amount of cash you think you need, you can double triple quadruple it. Every company requires cash, but be very careful about who you get your cash from. Not all cash is the same. When people invest in your company, you get their cash plus all their opinions so make sure your vision is consistent with those of your investors.โ
That was the beginning of Peekโs acoustic mitigation career as he quickly added commercial services to his initially exclusive residential line of acoustic abatement curtains. Now Commercial Acoustic focuses on its ABCCs: Absorption, Blocking, Cover (Sound Masking), and Consulting in the commercial market. โOne of the things weโre doing is we have partnered with a manufacturer that makes a brand new polymer blend after 10 years of research that is inserted in walls and floors that blocks sound. So we consult with builders to implement that solution at the building phase.โ
Peek says there is no better time to be in the market for acoustic abatement solutions. โThis new materials technology makes it affordable for the first time ever,โ he said. โFor example, if you want a sound-proof home theater, it used to cost $15,000 just for the sound isolation material to treat the walls. Now it only costs $2,000.โ
Peek advises aspiring entrepreneurs to take massive action on an idea and not let it sit. โDo not just talk about your great idea with one or two people and forget about it,โ he said. โThe one thing that helped make me committed to executing on my idea was telling more people about it and giving myself hard timelines to get things done.โ
Now, brother and sister have teamed up to take on the payment processing sector. Fattmerchantโs business model has saved Central Florida small and medium sized businesses more than $2 million in 2015 alone and an average of 40% on their payment processing fees by implementing a subscription based model instead of a variable percent of transaction model as is traditional in the sector.
โI worked in the industry for eight years,โ said Madhani. โI saw the lack of transparency and I took this idea for subscription based, direct cost processing to my bosses, but they said no. They did not want to lower their margins. So I quit and decided to either launch Fattmerchant or find another industry to work in.โ Luckily for small businesses, she did launch Fattmerchant with her brother, who moved back to Orlando from San Francisco and his own startup job there.
โPayment processing has always been a necessary evil and not much fun at all,โ Rehmetullah said. โWe are trying to turn that on its head utilizing social media and other measures. For example, we donโt have an automated 1-800 number. Our clients can call us and actually speak to someone live.โ
Rehmetullahโs advice to aspiring entrepreneurs centers on discipline. โItโs about being disciplined with your money, and your time,โ he said. โYou have to set deadlines against goals because youโre so excited about changing something that often you are not disciplined enough to execute around it.โ
Madhani values market validation. โThere are lots of great ideas,โ she said. โbut you need to gather quick market validation because it is better to fail fast than lose all your resources chasing an idea. Too many companies are focused on building a product rather than selling and validating. One of my favorite quotes is โThereโs no such thing as a billion dollar idea, just a billion dollar execution.’โ
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