One Morning, Handy Chief Executive Officer Oisin Hanrahan noticed that Handy’s strategy was not as successful as hoped. During the weekly team meeting, Hanrahan announced that he wanted to implement an online on-boarding process. Handy co-founder Umang Dua was against the plan, saying that candidates would not be able to complete the process without human assistance.
Soon after, Handy.com announced new funding, but that caused new issues. Hanrahan says that many investors were concerned about how sustainable future funding would be. Hanrahan admitted that watching other companies struggle to raise capital impacted Handy. Hanrahan was able to convince Dua that the online on-boarding strategy would save Handy millions of dollars every year, so the company proceeded with the roll out to its markets.
On-boarding plummeted, causing Handy to cancel bookings. Customer complaints increased. For Handy, the ability to spend is a way to gain a competitive advantage over others in the same market. Growth and market penetration were the key factors. Deflation caused a new desire for profit. Startup companies are now faced with trying to figure out how to go from growth to profit.
Hanrahan and Dua were classmates at Harvard Business School. It was there that the duo formed Handy. During the initial launch, Handy focused on getting capital and raising their profile to complete with their rivals. After watching one of their main rival companies go out of business, Handy decided to focus on sustainability rather than growth. There have been many challenges to succeeding in the home cleaning market.
Handy was hired workers to analyze all complaints. Handy had problems with the layout of its on-boarding strategy, but stayed committed to its business plan. Handy stopped thinking about expansion into other markets and focused only on achieving growth in previously existing markets. Handy’s revenue is improving. Visit https://www.handy.com/cleaning-services/new-york for more info.