We Started MUSTER to Give Young People Access to Affordable Housing – Ugo Okoro

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Q: HOW HAVE YOU BEEN ABLE TO BRIDGE THE INFORMATION GAP BETWEEN MUSTER AND INVESTORS?

 

A: Firstly, we’ve built a faithful product for our market. Also, we’ve proven that our product is scalable across and beyond Africa.

 

Q: WHAT HAS BEEN THE BIGGEST CHALLENGES YOUR COMPANY HAS FACED?

 

A: I will say fund raising, as it pertains to our market, supply acquisition, convincing owners to list their property on the platform.

 

Q:  HOW MANY PEOPLE DO YOU HAVE ON YOUR LISTED PROPERTIES?

 

A:  About 200 owners with about 300 to 400 properties.

 

Q: HOW MANY USERS HAVE BEEN ABLE TO FIND HOUSING?

 

A: About 70 users and over 1000 users still searching for properties that suit their needs.

 

Q: HOW DO I RAISE FUND FOR MY PROJECTS?

 

A: Keep the work moving, validate your assumptions. It is not only about conceiving the idea, but also about a practical market analysis that proves that your idea can scale in different markets. I will encourage you to keep building because it gets easier.

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Q: HOW DO YOU ENSURE THAT YOU BRIDGE THE GAP OF TRUST AND THE CREDIBILITY ON BOTH SIDES?

 

A: What we’ve done as a team, apart from building a community of owners and users of property, is that we’ve managed to build trust and confidence of users on our platform by setting up a multi-layered verification system that require references and bank statements among others.

 

Q: CAN YOU BRIEF US ON YOUR EXPANSION PLANS?

 

A: We have plans to do much more in our current operating market (Nigeria). Also, we plan to expand across Africa, add value to human life and facilitate rent collection through Muster in the real estate market.

 

Q: DESCRIBE THE STAFF STRUCTURE OF MUSTER?

 

A: We have a very small team of rock-stars, and I think the most important factor in building a team for a small company is to make sure that every team member sees and understands the bigger picture, vision, mission and goal of the company. Currently, we are post-funding, looking forward to hire UI Designers, Software Engineers, Mobile Developers and Community Associates to build the Muster Experience and Culture.

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Q: HOW HAVE YOU BEEN ABLE TO ATTRACT THESE TEAM OF ROCK-STARS?

 

A: Essentially, we attracted these rock-stars based on the fact that our competitors are bigger. Also, hiring talent is pretty difficult, and some talent are unemployable. What we are doing at Muster is building a culture where everybody has a voice and we are genuinely interested in the growth and development of our team.

 

Q: WHAT IS YOUR CURRENT OWNER AND USER BASE STRUCTURE

 

A: Over 1500 users, over 700 rooms rented, 3000 on the wait list.

 

Q: YOUR FINAL WORD TO THE ENTREPRENEURS OUT THERE

 

A: Keep building the work, because it gets easier and it is very important to validate your assumptions. Create a job and social innovation that solves people’s problem.

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