Entrepreneur’s Perspective, part two: : Frank Richards, serial entrepreneur and former CEO of SmartZIP: The Building of a Company

Frank Richards

Guest Post by Frank Richards The Building of a Company As an avid fan and investor in real estate I identified a significant gap in the residential investment market around 2004. I noted that 15-20% of all homes sold in the US are for investment. But I also discovered that there were no national platforms or proprietary algorithms that could help people identify the best investment markets and the best properties. Essentially there was no Charles Schwab for the residential investment market. I realized there was a great opportunity for a private banking platform to help people research, plan, acquire and manage residential real estate investments nationwide. . . .
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The 10% Better Mousetrap Fallacy

While recently listening to a deal pitch-review, I watched a number of entrepreneurs selling “a better mousetrap”. Although they had some improvements in their technology- focused value proposition, they failed to understand the inhibitions to adoption in the market. I asked them to focus their attention on the inherent switching costs for customers who are choosing this new alternative solution to a business problem. They did not understand what I meant.

mouse trap

I call . . .
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