Founder Series #5 ft. Dan Drogman: "The idea is the easy part. Execution is what matters"

In this episode of the PropTech Talks Founder Series, I spoke with Dan Drogman , Founder & CEO at Smart Spaces? .

In 2009, Dan joined forces with his brother Thomas Drogman to build a business that would eventually evolve into Smart Spaces - a global pioneering smart building operating system deployed across 85 million square feet in 26 countries. The business was built without the support of an external investor, and has now grown to become the leader in the space that, powered by a lean 70-person team, is setting a new standard for tenant experience, landlord-occupant communication, actionable data, and sustainability in the built world.

Tune into this session on building and growing a profitable tech company, identifying a high-potential market, building a product that responds to customer needs, how to change consumer behaviour, and much more!

You can access the full interview through the link below:

https://proptechtalks.buzzsprout.com/share

Interview Highlights

Matthew: What’s your take on being profitable from the start and how did this impact Smart Spaces’ growth to 70 employees?

Dan: Profitability was always our guiding principle. Early on, we operated as a “work for hire” business, quoting jobs similar to how construction projects are bid, where we calculated our hours, costs, and profit margins upfront. This approach ensured that each project was profitable, allowing us to reinvest earnings to gradually expand the team. I think our focus on high-quality work helped us retain clients and win larger projects. By prioritizing sustainable growth over rapid scaling, we were able to grow steadily and responsibly, building a team of around 70 people today.

Matthew: How did you decide which “shiny object” to focus on and scale within your tech agency?

Dan: It was definitely tough to decide. At first, Tom and I took on projects across a range of industries—e-commerce, foreign exchange, and more. After a while, the workload became overwhelming, and we were burning out. We took a step back, examined each project’s potential, and reflected on what we truly enjoyed working on. Ultimately, we realized that the smart building tech space aligned with our skills and had huge market potential. Focusing on Smart Spaces allowed us to concentrate our efforts, refine our technology, and provide greater value to our clients.

Matthew: Given that many commercial landlords face challenges today, what advice would you give executives who want to stay competitive?

Dan: I’d say focusing on customer relationships is essential. Unlike before, where landlords could simply lease out space and move on, today’s landscape requires a close connection with tenants. By leveraging data to understand tenant behaviour, landlords can be proactive, responding to needs as they arise—whether that’s offering additional space, adjusting amenities, or even repurposing underused areas. This data-driven approach helps them stay competitive, maximize tenant satisfaction, and optimize space utilization in ways that weren’t possible before.

With Smart Spaces, we help landlords maintain ongoing communication with tenants, providing real-time feedback and occupancy tracking that help them adapt to changing needs. This two-way connection fosters tenant loyalty and gives landlords valuable insights into how their buildings are being used.

Matthew: With rising ESG regulations worldwide, how can asset owners improve energy efficiency and asset value?

Dan: Benchmarking energy usage has been a game-changer for us. Instead of comparing building to building, we can now provide tenants with a direct comparison of their energy profile against similar tenants within the same building. This kind of transparency often motivates tenants to reduce their energy consumption. When tenants can see that they’re using more energy than others, and when we put the potential savings in pounds and pence, it creates a powerful incentive to make changes. It’s a highly effective way to encourage sustainable behaviour and comply with emerging ESG standards.

Matthew: What do you think allows some startups to scale successfully while others struggle to get off the ground?

Dan: For us, it’s all about focusing on the product and listening to the customer. There’s no magic solution—it’s really about delivering the best product you can and staying tuned into your clients’ needs.?

For others, great tactics are taking investment from someone who's already in the industry. Partnering with a large property manager in the industry can accelerate your growth, as they can often open up contacts and opportunities that would otherwise be hard to access.?

Social media and thought leadership also help build trust and credibility, which are essential for sustainable growth, so we are also looking to identify new opportunities in this space.

It was a pleasure interviewing Dan and learning about his experience as a founder. Stay tuned for the upcoming Investor, Founder, and Executive Series interviews!