I took advantage of my trip to NYC last week to meet an entrepreneur I had spoken with over a Skype call last December. His story is a great example of an experienced professional leveraging not only experience but also connections to turn an idea into a profitable tech company.
Joe is a real estate broker. On average, he interacts with 10 buyers and sellers each day. Some of them are ready to buy/sell and others are still in the planning stage. Joe employs a number of brokers. His list of properties has exponentially grown and effective management became harder without further hires. Instead of hiring more brokers and assistants, he invested in a real estate platform that not only simplified listing and follow ups but also allowed him to leverage his platform to earn commissions off of sales from properties held by other brokers in addition to advertising earnings. His early adoption was dependent on the development of the platform because clients existed and demanded for efficient updates and transparency especially for sellers. Joe leveraged experience and contacts to build a profitable tech extension to his current services.
Once again, building a profitable and scalable tech company doesn’t necessarily mean hundreds of employees and millions of dollars in venture capital investment. The most successful startups usually come out of a personal need and can be executed and validated in multiple common and uncommon creative ways. That’s the beauty of business; one problem can have many right answers.
This is Abdo Riani. One of the founders at AspireIT. We help business owners and experienced professionals leverage experience to build viable and valuable tech companies.
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