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However, Forbes would define PropTech as simply “businesses using technology to disrupt and improve the way we buy, rent, sell, design, construct, manage and make decisions on property investments.” PropTech is a multi-billion dollar industry. There are leading PropTech startups in Nigeria. They include Eden Life, Estate Intel, Rent Small Small, Spleet, Fibre, and so on. Starting a PropTech is no mean feat at all. It comes with developing and executing the right strategies. In this article, I discuss how you can launch your Prop-Tech startup.
Ensure That There Is a Problem That Needs a Solution
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The PropTech industry can be tricky. Hence, ensure that there is a ready market willing to use your solution. Experts have advised that having a ready-made market that is in dire need of a solution is all the green lights you need.
Specify Your Niche
Count The Cost Of Starting Off
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Also, registering your company and business name, setting up a domain name, and as well as administrative and legal costs are to be considered.
Use The Right Technology Process
Use Various Marketing Channels
Final WordsBuilding and growing a successful PropTech startup rely on solving housing and property problems. However, you have to define your niche, and with technology, you can streamline two or three niches, but don’t make the mistake of incorporating many niches as possible. It can be overwhelming for you and as well confusing to your audience. Also, your technology process must be top-notch, user’s friendly, and streamlined too. Finally, marketing through various channels is advisable as PropTech relies on heavy publicity. Featured Image Source: Fast Invest
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