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It seems the main problems Homejoy faced were: - not able to increase retention rates and get organic growth - heavy reliance on discounted pricing - rapid (t
by sarwechshar 11y ago
It seems the main problems Homejoy faced were:
- not able to increase retention rates and get organic growth
- heavy reliance on discounted pricing
- rapid (too ambitious?) expansion strategy
- customers and contractors bypassing the service for subsequent bookings
- pressure from investors
This is a real shame as Homejoy seemed to have a great team leading it (I enjoyed watching Adora's part for How to Start a Startup). Lessons should certainly be learnt and I wish the best of success to everyone who worked at Homejoy.
- WalterSear 11y ago>This is a real shame as Homejoy seemed to have a great team leading it How does that follow? Who else is responsible for such an overarching part of their strategy? It sounds like the talked they talk and too much. Fwiw, I don't think that customer/supplier retention was their only problem, according to a number of people I've talked to who tried their services.
- sarwechshar 11y agoI agree it is up to the people in charge to ensure the company succeeds. I just meant they seemed like hard-working people but perhaps could have identified the failures earlier on. Also I listed 5 failures (not just customer/supplier retention) I identified but the formatting got screwed up.
- WalterSear 11y agoYou downvote me for constructively adding to the conversation and I'll downvote you. ;)
- sarwechshar 11y agoI don't understand, what's with the attitude, dude? I didn't downvote you.