Startup firms want to follow the most successful companies, learning from their good decisions. Handy Inc. might become one of those firms, which is presented in “Marketing 101” business school courses on “How to run a successful business.” So far, it keeps making the right decisions.
“Start with Growth”
When a startup firms begins, it must prove that its concept works. It must show that there is a market and the customers will pay for the service.
Handy Inc. started by building up its customer base quickly. It offered a 100% money-back guarantee. This encouraged clients to try out the on-demand cleaning service.
With this growth, Handy Inc. could show venture capitalists, that the market is ripe. Everyone has a home and needs cleaning. Thus, the potential for profits was quite robust.
“Add Branding Verve”
Next, Handy.com wanted to increase its brand recognition. It wanted to have its customers return to hire their cleaning professionals again-and-again. This allowed Handy to show a solid financial bottom line to potential investors.
Handy actually purchased its name from a German firm. The word “handy” also means a “cell phone.” By creating this handy connection, consumers had an easier time, remembering the firm’s name.
“Finish with Profitability”
In 2016, the company was ready to move to the last phase. Handy co-founders Umang Dua and Oisin Hanrahan made the tough decisions, such as concentrating on its 28 markets. The growth would be within markets. The venture capitalists wanted to see Handy Inc. move “from pivot to profit.”
Handy Inc. has demonstrated Chutzpah in making the right decisions, throughout its rise. It has a great name and reputation for providing much-needed services. A good “Marketing 101” course can teach students how Handy built its brand upon growth, branding and cost-cutting.