When I think about what’s to come, and I reflect on the many conversations I have had with other startups, the one word that keeps coming up over and over again is “collaboration”. While there will indeed be some mergers and acquisitions (as evidenced by the CBRE acquisition of Floored and the game changing merger of VTS and Hightower), I think that most startups will find that it’s an easier strategy to collaborate with another startup.
I know my team and I are having many of those conversations with others about our portfolio of sites as well.
- It’s really hard to get traction in the CRE tech sector. The industry at large still has a long, long way to go until they fully embrace tech as a value-add solution to help their business.
- Often it costs little to collaborate. And it costs even less to unwind if it doesn’t work out. So, collaborating is a great way to mitigate risk.
- The end users, our customers, are overwhelmed with the amount of startup choices out there. The more that sites can create a single source solution, the better for the end-user!
- Many sites are good at one thing, and others good at another… so it’s sort of a 1 + 1 = 3 strategy!
- It’s the nature of the tech sector at large for people to work together and collaborate. It’s part of the DNA of the culture.
I think that you are going to be hearing a lot about people collaborating in the year ahead. My only advice would be to choose your partners carefully. I wrote in last weeks blog about this very topic.
Anyone who wants to collaborate with us, just give us a shout :) We are all ears!