On this ongoing series, we share advice, suggestions and insights from real entrepreneurs who’re fighting the business battle on daily basis. (Responses have been edited and condensed for clarity.)
Who’re you and what is your business?
Jordan Keltz: I’ve spent the last 20 years constructing firms that reimagine the way customers and customers connect in a few of the biggest industries. My co-founder Adam Stupak and I joined forces in 2018 to create SpaceIt, a real estate lead engagement software platform that facilitates automated lead capture, custom lead targeting, and lead tracking that easily integrates with existing CRM systems. It has evolved as a way to deal with the gap in contacting and tracking leads that is so common and damaging in today’s real estate market.
Adam, a licensed real estate broker in Recent York State, is a pioneer in using technology to drive his real estate business, which made us a superb fit to bring SpaceIt to market.
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What inspired you to create this business?
Adam Stupak: Our ‘aha’ moment got here when I spotted I could not manage the growth of my real estate business without technology to assist manage and track leads. Many other brokers and real estate professionals and agents didn’t respond immediately once I needed them, and I knew there needed to be a way to make use of technology to enhance the efficiency and effectiveness of managing my sales funnel from first incoming result in close. .
I went to Jordon, an achieved entrepreneur who was my neighbor at the time, and we brainstormed a software platform that may help solve an issue in the real estate industry while constructing a scalable business model.
Jordan Keltz: Soon after, we built a team of advisors with experience in various technologies and industries, which included our current CTO Collin Rodolitz, who is simply a genius. Due to beta versions in the largest firms in the real estate industry and a gaggle of real estate families supporting the team financially, we now have penetrated each the residential and business real estate market. We recently launched a pilot partnership with Douglas Elliman Real Estate, which has over 7,000 residential real estate agents in its network.
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What was your biggest challenge and the way did you overcome it?
Adam Stupak: Our biggest challenge was that we launched just before the pandemic, so we needed to freeze the business during the quarantine as all of us struggled with COVID restrictions. We overcame it through the use of this time to re-design our software to transcend what we originally envisioned to be industry-wide, each residential and business, and add features that appealed to a wider audience.
When the pandemic subsided, our expanded platform enabled end-to-end workflows for residential and real estate managers, along with the business real estate market. More importantly, we have enabled the capture and tracking of all lead channels, from incoming and outgoing calls and text messages to QR codes, emails and more, making a more efficient way to initiate and monitor communications.
What advice would you give to entrepreneurs searching for financing?
Adam Stupak: It’s about knowing where to look. Start with family and friends – people you recognize who trust you and might support your ideas and keenness. Use these relationships and trust to construct a coalition and work together inside your circle to create a gaggle to assist along with your initial seed funding.
Jordan Keltz: Getting the pitch right is the whole lot. Work as a team to give you key insights and drivers to resolve the problem and the way your business can grow and create value. Leverage data, industry expertise, and graphics to quickly present a price proposition.
What does the word “entrepreneur” mean to you?
Jordan Keltz: Entrepreneurship represents the spirit of innovation, risk-taking and creativity. It spurs us to create something recent and helpful, to resolve existing problems, to enhance something in a way we never imagined before. The entrepreneur identifies opportunities, develops a vision, and takes calculated risks to make that vision a reality. Entrepreneurship might be difficult and requires labor, perseverance and resilience, but it surely also offers the potential for self-fulfilment, financial independence and a positive impact on society.
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What do many aspiring business owners think they need that they do not really want?
Adam Stupak: Substantial capital. You do not have to be thoroughly funded to exit and construct a business idea. All you wish are the easy attributes of a business plan and strategy, an LLC or corporate entity, and a proof of concept. Every thing might be positive from there.
Is there a selected quote or saying that you simply use as personal motivation?
Jordan Keltz: One quote that I believe epitomizes the essence of entrepreneurship and what Adam and our team are constructing comes from Brad Inman, founding father of Inman News, who said, “Innovation is the key to real estate success, whether when it comes to technology or recent business models.
This quote resonates with me since it highlights the importance of consistently adapting and evolving in the dynamic world of real estate. As an entrepreneur, I think that innovation is the key to maintaining a position and gaining a competitive advantage on the market.
Inman’s concept inspires me to consistently search for brand new technologies and concepts that may improve the real estate industry and create value for my clients. It jogs my memory that innovation is not only maintaining with the latest trends, but additionally creating recent ones and pushing the boundaries of what is possible.