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Sign into your accountA Goal Without a Plan is Just a Wish
April 29 2016
A French writer wrote this line – "a goal without a plan is just a wish." It often pops into my head when I read a trade story about a hot new real estate tech company that upon closer inspection, isn't a company at all, but an idea in search of a business plan.
I also find myself thinking about the same thing when I walk through a conference where startup firms are lined up. I pay a game in my head call "product or product feature." It seems that so many tech startups in real estate are really just a feature that should be rolled into another product that is offered by an established company.
Most often with these new tech startups, there isn't enough "there there" with the product to justify building a company around. Real estate tech conferences need a professional match-maker who walks around to counsel these firms solely on what product their product feature would best fit, and find a way to marry their innovation off that company.
You're no Google
At one conference, I challenged the founder of one of these firms on the viability of his product when it became clear he had no idea how he was going to generate revenue. The CEO argued that Google didn't have a revenue plan.
Google. Really? You are going to compare yourself to Google? I bit my tongue and almost found myself paraphrasing President Ronald Reagan's retort by saying "You're no Google."