Handy is a startup that got its beginning in 2012. It can be said to be the Uber of home cleaning and home repair. The people behind Handy are Oisin Hanrahan and Umang Dua. Oisin is the CEO of the company, while Umang Dua is the chief operating officer.
In the beginning, Handy, like most startups in the years from 2012-2015 were focused on growth and not profits. The company managed to raise hundreds of millions of dollars, but the expectation was to continue growing the product or service and not focus on profits. This would eventually change, as the venture capital bubble would burst sooner or later.
Late 2015 and early 2016, saw venture capitalists focus less on expansion of the companies they were investing in and more on profits. Handy.com, unfortunately was in a major rut caused by the implementation of an online on boarding process that saw some of its staff leave en masse. As the company suffered, both Oisin and Umang were worried about the future of Handy and whether it would be profitable.
Over time, as Oisin Hanrahan managed to stick by his digital onboarding model, the company slowly recovered. Handy managed to whether the venture capital storm on focusing on profits instead of growth and expansion by implementing cost cutting and profit driven initiatives well before the bubble took place.
For example, the painful decision was made to outsource its New York City based calling center to cheaper ones in Florida and Missouri. The company also further automated its customer service department with the use of chat bots and automated software. Handy also began focusing on market development and customer acquisition in 2015 instead of continuing to burn money by trying to enter new markets. Putting profits ahead of expansion was an often painful and difficult task, but it is one that has set Handy on the course of profitability and sustainability for the long haul.