Enterprenuer
Clint Lotz is the President and Founder of TrackStar.ai, a new, predictive API designed to help enterprise-level banking.
Clint Lotz founded TCRO Systems before launching TrackStar.
He developed the most advanced platform for the Credit Repair Industry, including consumer products for businesses clients.
Before joining the credit industry, Clint introduced the first digital mortgage application to a community bank.
He also pioneered the digital-first mortgage. Clint is an optimist and believes technology can open up new business opportunities.
He holds a B.S. Robert Morris University, Illinois.
What is the story of TrackStar.ai get its idea?
TrackStar.ai was my first job as an employee of TrackStar, a credit repair firm.
The owner of the company passed away in my teens. I bought the company in the aftermath.
TrackStar.ai was born out of my 15+ years of experience in credit repair and my programming background. It is a combination of both.
TrackStar.ai is a predictive API that helps enterprise institutions provide better loans to their customers.
It’s based on data in existing lender databases.
Built on a proprietary credit data set, the API predicts which credit items may be disputed or removed in the future.
Based on this data, the API also indicates when a consumer’s credit score should increase, allowing lenders to qualify that consumer for lending products instantly.
How do you stay productive?
My team is based on the East Coast, so I get up early.
It’s common for me to read the Wall Street Journal or New Your Times before getting out of bed.
This helps me stay informed for the day’s conversations and is a great way I get started in the morning.
This usually lasts a few minutes, but it’s part and parcel of the deal.
The most productive times are in the mornings.
These include Zoom and conference calls, sales reviews, code reviews, and budget meetings.
However, I can get some work done once the day is over.
My development team and I have the uninterrupted time we need to complete technical tasks for the day. Sometimes it seems like I do more work after 5 o’clock, but you are never out of the loop.
Entrepreneurs wake up feeling both invigorated as well as terrified.
How do you bring ideas to life?
Trial and error is the quickest way to find out. I have many ideas, but they never take root.
Those that did succeed were those that I spent more time researching and analyzing its practical application in the real world.
I found someone else had already thought of this idea most of the time. But that’s okay because they don’t have my experience.
This is what led me to this idea anyway. If you want to improve the experience of something or make it more effective, follow up and write down all the requirements and dependencies.
To determine if your idea is appealing, you should run it through various experts in the field.
If you hear it being great from everyone around you, you may need to hire more people.
You need real-world data to see how this idea can be implemented. This is why you need honest, knowledgeable people.
After you have decided that this is a great idea, start building it.
What’s your favorite trend?
Although it may sound cliché, Artificial Intelligence/ Machine Learning is one of my favorite trends.
I’m not referring to the creations or achievements, although that excites me.
As a society, we are constantly innovating, and many of the algorithms that we use today were created in the 1950s.
It is exciting to see how technology integrates into everyday life, not just our phones.
Technology is not only for big businesses. Anyone can see how technology is changing lives at breakneck speed.
I believe that the next ten years will see more changes in the world than the past 50.
This is because technology adoption is improving.
What habits make you productive?
Listening is a habit that makes me more productive.
Listen to your clients and employees. Also, listen to advisors.
As there is always more to learn, you must take in as much information as possible.
Listening to someone’s point of view and making them happy is the best way to understand them.
It is mighty and shows that you care about their words.
What’s your advice for the Noob?
Do not be afraid to make giant leaps. I was unsure if I would succeed even though I took a leap of faith in founding the company after previous failures.
You have the power to change yourself and everything around you to make your success a reality.
I don’t think you are done. This is only the beginning.
What is one thing we can all agree on?
You can accomplish anything if you have enough time and money.
There’s no shortage of time if you have all the money you want.
It will always take a balance to succeed.
What do you recommend as an entrepreneur?
Keep an open mind. I enjoy reading books on topics that interest me, such as Cloud Computing, Security, Machine Learning, or how to lead a team of people working remotely during a pandemic.
Continue to learn, keep reading; knowledge can save you, so don’t stop learning.
What’s your rich strategy?
My business has grown because I learned how to get in front of the right people.
You have two options: you can either spend your time cold calling or network and research to find the right person to speak with.
It’s not easy to be on the cutting edge of fintech, and not everyone is open to taking a look.
I have had to learn this the hard way. It’s the most challenging part of being able to discuss our value proposition.
As time goes by, you find out who will listen to you.
How do you overcome Failure?
I was ten years old when I made a promissory for $10 I had borrowed from my sister.
The note clearly stated the interest, fees, and repayment schedule so that she could pay me back.
She is six years old, and one day younger than me, so she has always been my big sis.
She didn’t see why I needed to repay her $10 plus interest.
The interest and penalties continued to mount up, so I confronted them.
She dismissed my argument as absurd, and it was my first failure in entrepreneurship.
I was out $10 plus penalties, interest, and fees, so I had no choice but to find a better way.
Although I am dating, this was before the internet.
I, therefore, sought out adults who were experienced in this field.
A friend introduced me to leverage. My sister needed to borrow money again, so I took her beloved pair of shoes hostage until she returned the money with interest.
Can you share a business idea?
It doesn’t have to be complicated. I would instead start an online side job teaching people basic computer skills.
Get certified in the technology you are interested in teaching and start learning!
Many companies were searching for someone to help them learn how to use Zoom when the pandemic struck.
Today’s workers are willing to spend a little extra to gain the knowledge to become more productive.
What’s your recent best buy?
Since I haven’t been away from my house much over the past year, the stock is probably the best investment.
I have been investing in these SPAC IPOs. It’s not difficult, and it has paid off.
You should support any extra $100 you have, not just spend it.
What are your favorite Softwares or Apps?
This answer could go on for many days because I am a software guy.
The password keeper app and my two other factor authentication apps are the best software I can recommend.
It doesn’t matter what else you do if you can not access it or it is hacked.
Which book would you recommend?
Jim Collins would be the best choice. He speaks out about the importance of being approachable as a leader.
You will be a better leader if you treat people with dignity and pay attention to detail.
Although technology has changed a little, the principles are still relevant today.
What’s your favorite quote?
“Work Smarter Not Harder.”
Allen F. Morgenstern
TL;DR by Clint Lotz
You can try your ideas out by trial and error.
To not only learn but also to build a relationship with people, you must listen to them.
Do not be afraid to make giant leaps in your career, especially at the beginning of your job.
