Interview With Philip Verzun
Describe your product or service:
“Automated marketplace for buying and selling commercial real estate across Europe.”
Describe your company values and mission:
“New standard in data exchange via automation, speed, relevance, and efficiency.”
How are you funded? I.e. venture capital, angel investors, etc.
How big is your team? Tell us a little about them (I.e. co-founders, freelancers, etc.)
“Five people (one founder).”
How did you come up with and validate your startup idea? Tell us the story!
“My initial goal was to better organize my property listings and search request[s] and to quickly connect this information with relevant parties. Next, I started working on a solution to help brokers like myself to generate more quality leads and to improve property sourcing.”
How did you come up with your startup's name? Did you have other names you considered?
“I asked four people to send over two names each and then to vote on the best one. We ended up using the name chosen by [the] founder, which also comes from the word consortium or association. So it was the right meaning for our mission to build a global professional network.”
Did you always want to start your own business? What made you want to become an entrepreneur?
“I have always been an entrepreneur and started my own businesses.”
Did you encounter any roadblocks when launching your startup? If so, what were they and what did you do to solve them?
“Main challenge was to find the right people and to identify the programmer who can create the initial MVP. I had to change the developer several times and to quickly part with early partners that did not bring much value.”
Who is your target market? How did you establish the right market for your startup?
“Commercial real estate brokers and corporate investors. Market data shows us clearly who are the companies, what are the target locations, and which brokers are actively involved in transactions.”
What's your marketing strategy?
“Direct approach to investors via relevant investment offers and to brokers via matching investor profiles. Access to supply will generate more demand.”
How did you acquire your first 100 customers?
“We started via personal connections in the real estate community.”
What are the key customer metrics / unit economics / KPIs you pay attention to to monitor the health of your business?
“Number of deal flows opened, number of new listings added, number of connections made, total listing value, amount of purchase offers generated, ARR.”
What's your favorite startup book and podcast?
“‘Traction’ and ‘The Tim Ferriss Show.’”
Is there a tool, app, or resource that you swear by to help run your startup?
What is something that surprised you about entrepreneurship?
“Level of creativity sometimes needed to get things done.”
How do you achieve work/life balance as a founder?
“Sports, travel, family time.”
What is a strategy you use to stay productive and focused?
“Exercise, sleep well, divide the day into productive sections.”
Did you have to develop any habits that helped lead you to success? If so, what are they?
“Keep calm under pressure as there is always a solution for everything.”
What was your first job and what did it teach you?
“Cleaning snow from driveways (age 12). You need a good shovel to be more efficient.”
More on Consorto
We were fortunate enough to hear some valuable insights during our interview with Philip Verzun of Consorto that will inspire, motivate, and teach aspiring and established entrepreneurs alike.