Five Things I Learned from Interviewing a Serial Entrepreneur

Insights on Leadership, Innovation and the Evolving Residential Landscape

10/07/24

Linsey Miller's headshot By: Linsey Miller*, Senior Vice President, Business Development & Strategic Marketing at Resideo

For brands and smart home manufacturers, interoperability is not just crucial for success – it's critical for keeping pace in the evolution of the smart home. It also goes beyond simply having open APIs; it’s about building strong relationships, identifying pain points, and solving technology challenges with a growth mindset for the greater good.

Brandon Peterson's headshot As an avid reader and relentless knowledge seeker, I jump at the opportunity to connect with industry leaders who share this perspective and learn from their experiences. I recently had the pleasure of sitting down with Brandon Peterson, the CEO of Geokey, for a conversation about his company’s origin story, our approaches to leadership and how he thinks about innovation. We also touched on the current economic factors affecting the multi-family housing space, and what Geokey is planning for the future. I’m eager to share the valuable insights and forward-thinking strategies that emerged from our discussion.

The path to success looks different for everyone.
Brandon’s entrepreneurial journey began in his hometown in Nebraska, where his family had deep roots in the auction business — a tradition that started with his grandfather in 1972. Though initially hesitant to follow in his family's footsteps due to a desire to carve his own path, Brandon eventually took over the business after his father asked for his help.

Brandon ventured into various other opportunities, including owning a few 24-hour gyms. The operational inefficiencies there – like people passing off key fobs, in-person sign-ons and a lack of data analytics – caused him to think, “Why couldn't the phone be the key?” This sparked the idea for Geokey.

Geokey has established itself as a leader in the access control industry with its technology allowing property managers and businesses to control access to their facilities through smartphones, eliminating the need for physical keys or fobs and offering a more secure, efficient and user-friendly solution.

Creating a culture of growth is vital.
Brandon shared that he emphasizes a culture centered on problem-solving, servant leadership and continuous learning. His approach reflects a belief in resilience and the importance of embracing failures as learning opportunities—a mindset that resonates with me as someone from West Texas.
Fostering a growth-minded culture involves being open about both successes and failures, and not always having to be the smartest person in the room. I believe a good leader is one who can admit mistakes and build trust through transparency.

A good leader also creates a supportive internal environment where employees are valued and treated well because, in turn, they will go out and provide excellent customer service. “It's not cracking a whip. It's ‘Hey? I see you're having a tough day. You need to go take some time off. I care about you,’” Brandon explained.

You have to adapt.
Shifting from internal challenges to external, we discussed how the economic climate is affecting our companies. We’re both heavily involved in the multi-family space, and one thing we’re seeing is a slowdown in new development projects, prompting property managers to focus on enhancing existing properties. Brandon noted, “Technology is becoming a key area of focus because it offers a way to enhance property value without requiring extensive new investments.

Property managers are increasingly prioritizing solutions that offer simplicity and efficiency, such as integrated access control systems and centralized management platforms. Both Resideo and Geokey share this goal of providing unified systems that integrate seamlessly with existing property management operations.

This focus on centralization helps streamline operations – like when people move in and out – and reduce complexity. I've seen the effectiveness of this approach in my own career, and it’s exciting to see how Geokey is contributing to these advancements in centralization as well.

Learning leads to innovation.
For Geokey, the focus on innovation is pivotal in staying ahead and delivering value in a dynamic market. Innovation at Geokey revolves around improving the entire lifecycle of property management – from acquiring new residents to ensuring a seamless move-in process. This involves integrating advanced access control systems, leveraging smart technology and implementing efficient management processes to enhance both residential and operational experiences.

“How one property uses Geokey is completely different than how another property uses Geokey. And that's okay. We want to customize it to you,” Brandon noted.

No matter your industry, opportunities for innovation and growth of the business come from learning what the customer needs and finding a way to meet those needs. It all comes back to learning and being servant-minded – an overarching theme of our conversation.

We are stronger together.
Brandon and I reflected on the importance of partnerships in driving innovation and growth. He noted that the biggest message from his perspective is “stronger together,” an ethos exemplified in Geokey's integration with Resideo as we aim to build a future where technology works to simplify everyday life.

Through this collaboration:
- Residents can use the Geokey app to control their Honeywell Home smart thermostats, creating personalized heating and cooling schedules remotely.
- Property owners and managers can access insights into energy consumption patterns and HVAC performance, helping to make informed decisions and reduce energy waste.
- Residents can utilize Resideo’s First Alert water leak detection system, which notifies them of leaks and allows them to remotely shut off the water via the app.
As Brandon succinctly put it, “There’s no ego in these types of partnerships. We’re here to support the resident or property manager, and we’re doing it together because they need all of us. We’ve teamed up to make your life easier.”

My conversation with Brandon offered a glimpse into the future of property management, driven by innovation and a commitment to enhancing the resident experience. I’m even more energized by the integration of technology and a focus on supportive leadership, both of which are paving the way for more efficient and responsive property management solutions, and I look forward to continued partnership with Brandon and his team.

*Linsey Miller
Linsey Miller is the Senior Vice President of Business Development and Strategic Marketing at Resideo and Board Director at Home Connectivity Alliance. Linsey has a proven track record of leading growth for large technology companies, experience starting up new business, managing P&L, and leading strategic growth and turnaround teams for private equity-owned and publicly traded companies. Linsey's specialties include: consumer electronics, energy efficient power infrastructure, data centers, enterprise and telecom computing.

Before Resideo, she worked as Vice President, Data Center Computing and Telecom & Networking at Advanced Energy, and Vice President of Product Management and Marketing, Embedded Computing at Artesyn Embedded Technologies, a joint venture of Emerson Network Power and Platinum Equity.

Linsey holds an Advanced Management Program certificate from Harvard Business School and earned an undergraduate degree from The University of Texas at Austin.