It’s already time for Tankwa Town to pivot. As we spoke through our idea with more industry professional, we realized that it was not going to work. If we continued down the property management platform path it was going to be a hard journey that many others had failed (as one person said “the graveyard of graveyards”). So we took the time to interview more professionals in CRE on property tech and see where a new product could really make an impact and solve a problem. One of the key take aways was that the property market in the US was going to be hard to penetrate. Not only does this market operate in “silos of secrecy” and is heavily relationship based, but almost everyone we spoke to used excel and did not want to change! (Contrary to my belief that excel was old and basic — they actually enjoy using it!)
The more you interview people, the more you learn. I know this may seem obvious but not only have we learnt the right way to phrase questions to get the discussion going, but we also learnt other interesting things about how people think about disruption and the hard road of entrepreneurship. Once again the invaluable lesson that through interviews with professionals and potential users, you learn insights that would make your product impossible to replicate.