Silicon Valley uses the term “unicorn” to refer to a start-up, which has raised $1 billion. Unfortunately, “Handy Inc.” a home cleaning service has realized that the amount of venture capital (VC) available in 2016 may be starting to decline. Startup firms must remember that “one bird in the hand is worth two handy home cleaning unicorns.”
“On-Demand Handy Home Cleaning”
The concept is really quite brilliant – “on-demand home cleaning.” Haven’t you ever had a horrible mess and simply not had enough time to clean it up? It might be just before the holidays or after a party. Just contact Handy Inc. to get your apartment, condominium or home cleaned.
For a couple of decades, the mantra has been “growth, growth, growth” for startups, like Handy. But “times are a changin’ ” – during their last financing stage, they were encouraged to focus on profitability. Thus, they settled on their 28 home cleaning markets and started to cut costs.
“Are You Profitable?”
Perhaps, one day Handy.com’s rise to prominence will be a musical. It basically highlights the joys and pains of running a modern business. As competitors fall, the Handy firm continued to see higher demand.
With higher demand, it must provide more workers. The firm decided to create an “online onboarding process” to hire its cleaning “pros.” This was difficult, but eventually it allowed the firm to lower its costs. The workers eventually figured out the system.
Outsourcing customer service is one more of the common trends, which Handy Inc. had to face. CEO Oisin Hanrahan understood that automation “is the kind of decision that’s difficult emotionally but a no-brainer as a matter of business rationale.” Cash in the hand has become valuable. Perhaps, Handy’s path may be a model for the cost-cutting of the nation as a whole.