home tech

Houston home builder stays ahead of the competition by incorporating new technologies

Within the next five years, Frankel believes that the technology they are using will evolve even more, perhaps to include holographic 3D models of homes they hope to build for their clients. Getty Images

For Frankel Building Group, the evolution of technology in the real estate and construction world was the next logical step in creating a sustainable and viable company. By incorporating technology into its client-based custom design and build firm through the use of a personal app and 3D renderings, co-president and principal Scott Frankel said Frankel Building Group is years ahead of the rest of the competition.

Frankel, who runs the company alongside his brother Kevin, described it as "a responsibility to do better and to show more."

"Our company, when I got here, was politely a little bit in the stone ages," Scott Frankel tells InnovationMap. "In order to be a customer facing business, and in order to compete in the market, we have learned to be a very technology-forward business. I would say out of every custom builder in the country, we are probably the most technology-reliant builder out there. That's a good thing."

The building group, which was started by 30 years ago by Scott and Kevin's father Jim, uses technology in every aspect of its projects.

Five to 10 years ago, builders would have to import designs into AutoCAD, a software that allows builders, engineers and architects to see their drawings in 3D form. Those AutoCAD drawings would then be printed and given to the homebuyer.

At Frankel Building Group, clients are able to login to an online portal that allows them to see every communication between them and the Frankel team, as well as building plans, updates, and digital 3D renderings of their homes. Everything from estimates to the latest updates from their assigned project manager are available to homebuyers from their phone.

"Our clients want that access," Frankel said. "If they don't get that access, they are going to be left with more questions than answers."

Frankel believes that they are only doing what the clients expect from a custom homebuilder: increasing communication through every means possible to make sure the client is satisfied with what the builder is doing.

"My brother and I are not huge technology guys," Frankel said. "We didn't come from this as framers who became custom builders. We came from a family that built custom homes and (using technology) only makes logical sense because it's something that makes it better. It's kind of like when you're banking with Chase and they came out with online banking — it just makes it better."

Within the next five years, Frankel believes that the technology they are using will evolve even more, perhaps to include holographic 3D models of homes they hope to build for their clients.

But, for now, Frankel Building Group is focused on growing their business one day at a time.

"Our focus is people in Houston who want to design and build that home for them on their property," Frankel said. "We just want to make sure we're putting the best product out there."

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Here are some reminders of how to serve up a home-run of a pitch to potential investors. Miguel Tovar/University of Houston

Pitching to a venture capitalist is not only the most challenging part of building a startup, it’s also the most important. You can have the next pet rock idea, but nobody will ever experience it and you’ll never make a dime if the genius of this product cannot be expressed in an investor pitch. Okay, so pet rock isn’t the best example.

Let’s say you have a product that gets rid of stretch marks overnight. Great idea, right? Of course. But if you’re in front of an investor and they ask you how your product works, and you can’t answer them, your idea will forever remain just that: an idea. It’ll never manifest itself materially, which is your goal.

Did you know that the average venture capitalist holds around 500 in-person meetings per year? Further, did you know that only one in every 10 startups will make it past the first meeting?

With so many meetings with startup founders, you better believe that investors are virtually looking for reasons to pass on you and your cordless extension cord. Or whatever fakakta contraption you’ve developed in your garage.

Well, with so much importance placed on first impressions, here are some of the most important things investors look for and notice when you pitch to them:

Value proposition

This is what separates you from the pack. This is what makes your startup a standout. A value proposition shows an investor your company’s competitive advantage. If you can explain to your potential investor why it would be their folly if they invested in a competitor over your startup, then you’ll be that much closer to rolling out your product to market. Investors want to see a product or service that is unique because that means less competition, and less risk involved.

Entrepreneurship

Sure, you might be a brilliant scientist. You may have developed nanotechnology that eviscerates dirt and bacteria so you don’t have to shower anymore. But have you put together a team that can make your company a successful business? Do you have team members with experience in whatever it is your startup does? Do you have people with credibility congruent with your startup? Your pitch is a way for investors to find these things out. If you can show them that your team has experience, passion, insightfulness, and expertise, investors will feel much better about taking a chance on you.

Confidence is key

Investors can tell if a founder is confident, but not overconfident about how far they’ve come and how far they know they can go. During a pitch, investors can tell if your team is a cohesive unit or parts of a fractured whole.

Anatomy of an investor pitch

Your potential investor will notice if your pitch is structured well. He or she will take not of whether or not your pitch is designed well. They’ll ask themselves if it’s authentic. Does it cover business metrics? Is it concise and to the point? Is the founder communicating something complex in a simple way? Doing so shows absolute understanding and a total grasp of your product and the science behind it, plus the business aspect of it.


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This article originally appeared on the University of Houston's The Big Idea. Rene Cantu was the writer and editor at UH Division of Research.

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