FEATURES
Six Tips for Growing a Successful Proptech Company Jindou Lee co-founder of HappyCo
By Jindou Lee
W
hen I started out in this industry
estate folks are long and rolling out new
Customers in the real estate industry are
a decade ago, proptech was
technology takes time. Once the product has
seeking true, long-term partners.
not even a word, much less
been purchased, company-wide adoption of
an industry sector. Much has
technology takes even longer. So, achieving
Instead of using catchphrases like “we are dis-
changed since then and the road to building
any meaningful scale in proptech will likely
rupting the industry,” we took inspiration from
HappyCo has certainly been a winding one.
take much longer than initially planned. If
the Iron Man suit analogy — we create tools
you’re motivated by making a quick buck,
to help people achieve their full potential. We
There is no magic formula when it comes to
you’ll end up disappointed. It’s a grind that
built proptech software that makes our cus-
creating a successful proptech company,
requires patience and relentless commitment
tomers better on-site operators, and its ease
and no substitute for hard work, persever-
to get through these long cycles.
of use makes their jobs easier.
same time, it’s important to remain flexible
Plan for a multi-year investment of your time,
This approach was a means to our para-
and open to adjusting your strategy along
energy, focus and money. Then, create a
mount objective to create happier commu-
the way. Financing realities, rapid advances
long-term plan with achievable short-term
nities. We believe happier communities start
in technology and inevitable bumps along
goals. Recognize that you may be in “start-up
with happier on-site teams. The best way
the journey can make transforming an idea
mode” for several years, so it’s important to
to create happier on-site teams is to listen,
into a growing business an arduous process.
surround yourself with a founding team of in-
understand their operational challenges
novative, nimble and resilient individuals who
and then deliver solutions that truly solve
Perhaps most importantly, the greatest idea
will help you reach your growth milestones
their problems.
won’t work unless it finds a customer willing
and are in it for the long haul.
ance and remaining true to your vision. At the
Find Aligned Capital
to deploy it to fulfill a business need. My team and I have learned a lot, and a few areas
Become a True Partner
When we began 10 years ago, no one was in-
stand out as lessons any early-stage busi-
Anyone starting a company, especially a
vesting in this category; today, every investor
ness should consider.
solutions-based one, must listen to their
is suddenly an expert in proptech. However,
customers and work alongside them as they
selling in this industry takes a lot of time.
Play the Long Game
build — then iterate — the product or solu-
Truly building scale requires patient capital
Unlike other industries, sales cycles to real
tion. This is especially the case in real estate.
partners who understand the market and are
76 MANN REPORT | AUGUST 2022
MR_August 2022_Features.indd 64-65
