4 Lessons Learnt Moving into the Tech Space

4 lessons an LMRE consultant learnt moving into the PropTech space from traditional Real Estate.

Moving from Prop to Tech has definitely been a big learning curve for me. It is out with the traditional, old school views of large corporates, suits & ties and being stuck in an office to wearing trainers to work, continuous networking and learning the latest tech lingo. I thought now with nearly 6 months experience in the tech world that it would be the perfect time to share my 4 biggest lessons.

#1 Change of Mindset

Working within tech means there is a huge change of mindset. Now, this doesn’t just mean having your birthday off and flexible working hours but actually that it is okay to fail, get things wrong and change direction and attempt things from a different angle. Within PropTech everyone is still learning, growing, developing and evolving and this is so apparent at networking events whereby everyone shares their struggles and weaknesses and want to learn from one another. This just doesn’t happen within the corporate property world; people are too afraid to admit to failure and so it is very refreshing to see a difference in mindset.

#2 Speed of Business Growth

The speed at which companies grow again is hugely different from anything I have seen within the corporate world. Growth comes in various different measures; from headcount and revenue to achieving targets/objectives set and bringing in new business. From a recruitment point of view it is so important that the growth of people is done correctly and the only advice I could give start ups is to make sure they make the perfect senior hires first as this paves the way for the juniors joining the team and is best described through the Pyramid of Growth.

#3 Efficiency is Key

The running of a business within tech needs to be efficient especially within the start up phase of a business. Not only is the running of the business key but data is power within tech companies. Processing and using data efficiently leads to generating new business, maintaining key relationships and keeping up to date with the latest trends. All of this provides the necessary insight needed to run a tech business efficiently especially as things change so quickly within the tech world.

#4 Diversity

It is also without question, how focused the tech world is on ensuring there is diversity throughout their hires and the main focus at the moment being Women in PropTech.  Having attended various events and launches the PropTech world is ensuring it doesn’t make (some may say) the same mistakes the corporate property world did when it comes to diversity and leadership which is really refreshing and definitely what makes working within PropTech so great!