Founder of Proptech Startup Ownwell Shares Their Top Insights

Last Updated: June 30, 2023 By TRUiC Team

Any entrepreneur can tell you, launching a startup is a learning process. Therefore, one of the best things you can do prior to launching a startup of your own is to learn from those who have blazed the trail. Frank DiZenzo, founder of proptech startup Ownwell, shared valuable insights during our interview that will inspire and motivate aspiring entrepreneurs.

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What advice do you have for aspiring entrepreneurs?

“Just do it. Most of the boundaries entrepreneurship-curious people perceive are self-imposed. Having some professional experience and subject matter expertise before you venture out on your own can be valuable, but you'll learn more in your first six months running a company than you will in six years working at a large one.”

What is the best method you've found to avoid burnout as an entrepreneur?

“Know yourself well enough to know when to throw in the towel for the day. Know what types of activities drain you the most, and hire people that complement your strengths to take those things on and free you up to use your superpowers. Self-awareness is a huge component of entrepreneurship.”

What is your advice for coming up with a unique startup idea?

“Don't try to come up with a unique startup idea. The best ideas come from problem recognition. Empathize with the people you're surrounded by professionally or personally well enough to where you understand the underlying problems they have. Be biased towards things people ‘need’ rather than things people ‘want,’ and avoid consumer products if you can, unless you are utilizing novel (and protectable) technology or have some kind of industry-specific expertise.”

What is your advice for overcoming challenges and failure?

“If you're not failing, you're not pushing yourself far enough outside your comfort zone. Part of starting a business is overcoming challenge after challenge, failure after failure. Keeping your eyes on your vision, the reason you started the company in the first place, is what helps overcome tough times.”

What is the biggest lesson you learned and what can aspiring entrepreneurs take from it?

“Be super focused on the things that actually move the needle for your business, and don't get bogged down in the rest. When you're ready to hire, hire folks with 3-5 more years of experience than you think you actually need, so they can grow into the role. Otherwise, the company will outgrow them in 6-12 months (if you're accomplishing what you're supposed to).”