In early 2016, co-founders Oisin Hanrahan and Umang Dua, we’re facing a daunting task of figuring out how they were going to create a profitable company and keep all of their investors happy. Oisin decided to roll out a brand new idea called the onboarding strategy that would change their whole company in more ways than one. The onboarding strategy was a new and inventive idea. After discussing the benefits of it, they decided to do a small test run and see if it was something that would benefit the company.
The new system was officially rolled out in Washington and Miami in January 2015. The system became a new way of success, offering an additional form of income for the business. However, it also caused friction for the owners.
Investors felt the new idea could backfire and leave them acquiring a debt versus making money. The co-founders were not surprised. However, instead of dropping the ball and creating a whole new system, the owners decided to go all in. They proceeded with the idea as if it was their only option. Eventually proving the investors wrong.
Hanrahan knew that he would save millions on this new savvy idea and once Dua agreed to the plan, they began the rollout in January. Sadly, the first rollout plummeted and Handy had to cancel thousands of appointments as the demand of services did not match the amount of supplies.
Customers were disappointed and complaints began to be the backbone of Handy.com. This did not stop the two successful entrepreneurs, they knew they had to sacrifice growth for profitability and continued to work out the bumps.
As time passed, the engineers worked out all of the issues in the new platform, and by the end of the second quarter, the platform successfully maximized their profits.