Category Archives: Running A Business

Automation Eases Handy Inc. Shift to Profitability

“Critical Mass” is a key concept, driving start-ups to increase their growth as quickly as possible, at first. They must show their capital funding sources, that they have the mettle, client base and market to run a profitable business. Now, Handy Inc. has advanced to the next phase of “profitability;” it has used automation to trim costs.

“When is Startup Phase Done?”

Typically, each startup must pass through a number of different phases to reach full maturity. The Handy Inc. on-demand home cleaning service has survived each stage, while its competitors – Exec, HomeJoy and Mopp – have fallen by the wayside. Actually, Handy Inc. acquired Exec and Mopp.

In November 2015, Handy Inc. completed its “$50 million Series C venture capital funding.” During this funding, the capital sources suggested that further stages might not be available. The Handy Inc. CEOs needed to emphasize “profitability” immediately.

For some firms, this is a signal that the startup phase is done. Mature businesses must have enough cash flow to fund their activities internally.

“Cutting Costs Using Bots”

For the home cleaning industry, the customer support department is very important. One mistake can ruin your reputation.

Most consumers want to talk to a live operator, but this can be very expensive. After training their live customer service representatives, the CEOs of Handy realized that they needed to cut costs.

Finally, Handy.com. CEO Oisin Hanrahan concluded that “replacing people with software systems is the kind of decision that’s difficult emotionally but a no-brainer as a matter of business rationale.” This is one of the steps to becoming a mature business.

Now, that the bottom line is the top priority for Handy Inc., the “tough decisions” are becoming more frequent. Handy has survived so far, now they want to thrive!

 

Bernardo Chua: How His Company Is a Global Success

Organo Gold is a global gourmet coffee shop founded by Bernardo Chua, in 2008. His mission is to to spread his knowledge of Ganoderma to all four corners of the world, partnering with thousands during the process. Ganoderma is a mushroom that contains antioxidants, used in Chinese medicine for hundreds of years. Among coffee, other products offered include toothpaste, soap, tea, and vitamins. All of which are infused with the Ganoderma herb, resulting in scientifically developed products which are both healthy and tasty.

Bernardo Chua delivers his products using a distribution system which shares a portion of every dollar with the world-wide Organo Gold family. By recently opening a branch in Turkey, he marked the 39th country in which he has overseen opening of his company. With an estimation of the of the 2015 year at 1 million distributors and an 800 million dollar revenue, it is safe to say his company has been a major success. Bernardo uses a network-marketing approach. This means by promoting Organo Gold products and selling them on a regular basis, a domino effect occurs. When a distributor is successful, it affects the team and company both in the same positive way.

Bernardo Chua and two of his Organo Gold associates recently took a trip to the capital of the Philippines, Manila. It is here in which all three received a prestigious Dangal ng Bayan Award. The Philippines is Chua’s home country, and this award is given in recognition of achievers who motivate other Filipinos to succeed in business all over the world, as well as excellent Filipino products. Organo Gold received two People’s Choice Awards.

After seeing how successful his products were in the Asian market, Chau expanded to the Western world. He is lucky he did because Organo Gold is now the 55th biggest direct selling company around the globe! Another factor that has had a huge impact on his success is his value for educating both his distributors and consumers. Chua has based his company out of Canada because of their reputation of strict guidelines when pertaining to businesses and products. He believes this is good for his company’s image. For more information about Bernardo “Bernie” Chua, follow him on twitter!

Haidar Barbouti: An Experienced Commercial Real Estate Developer

A Sophisticated Profession

Today, professional commercial real estate development sometimes requires property managers to develop expertise in several specialized fields. The career of the successful Houston real estate magnate Haidar Barbouti illustrates this trend.

Why must a capable manager of commercial property possess a broad knowledge base? Working in one of the most sophisticated areas of real estate practice, these individuals must acquire the skills and knowledge to enable them to handle a wide array of complex issues on a daily basis.

Wearing Many Hats

For example, Haidar Barbouti came to national attention as a result of his successful management of Highland Shopping Center in Houston, Texas. Educated at Columbia University, he purchased the mall some two decades ago and soon assumed personal responsibility for developing a thriving commercial environment for the retailers locating there. Today media articles refer to the shopping center as “venerable” and “one of the most coveted retail centers in Houston”. What types of skills must a property manager demonstrate to achieve that high level of performance in promoting a commercial center?

Haidar Barbouti’s biography offers clues to this process. He classifies his responsibilities as involving several fields: lease negotiations, daily operations, redevelopment and portfolio management. Each area appears vital to the future prospects of a shopping center.

The Nuts and Bolts of Success

By developing expertise in the real estate commercial rental process, Mr. Barbouti attracted key tenants to the shopping center, enterprises capable in turn of drawing significant numbers of visitors to their storefront. And shoppers who visits one retail establishment likely check out others in the vicinity, as well. This cascade of interest ultimately enhances the business opportunities available to Highland Shopping Center’s merchants.

Similarly, smooth day to day business operations in a mall greatly enhance customer satisfaction. As part of his effort to operate the Houston shopping center, Haidar Barbouti spent considerable time there, overseeing the administration of the facility.

He even went so far as to construct his own restaurant, Up, on a new upper level of the shopping center. His enterprise offers a venue for fine dining in Houston, a step exemplifying the importance of the third aspect of commercial property management, redevelopment.

Finally, Haidar Barbouti lists portfolio management as an important skill. He did not neglect this area. Today he owns and operates a dizzying array of real estate properties extending from New York to Houston.

Marc Sparks of Timber Creek Capitol Has Moved To An Optimized Setting

For the last ten years, Marc Sparks of Timber Creek Capital, LP has worked out of one location. The company recently moved to a new location where the setting is optimized to serve entrepreneurs better and to produce and develop new business. A private equity firm, Marc Sparks takes a business and develops it into a revenue generating company.

Marc Sparks explained that the process of starting any business begins with the resources and a successful business model. By designing a new Timber Creek Capital building, it allows them to host three companies in the facility, offering an extensive incubation period. By not cutting corners where the teams work and spend a great deal of time together will ensure and enhance the success of any business. Quality work environments are crucial and necessary to succeed. With the new building, Timber Creek Capital can collaborate in a work environment that is more likely to be a success.

Marc Sparks has started dozens of successful companies and knows what is required to succeed. If a company wants output that will maximize success, the special flow within is required and Marc Sparks knows how to make it happen. His experience has spanned over 35 years of failure and success. In his book entitled, They Can’t Eat You, he takes you on his own journey of learning entrepreneurship.

As the owner of Timber Creek Capital, he takes on several companies, offering them the means to launch a sustainable business. As a mentor, the resources he can help them with like banking, marketing, capital and office space will teach a company the challenges and circumstances of running a business. He understands what it takes, how much passion needs to be put in to building a company from his own experiences and why it takes faith, passion, focus and a savvy attitude for success. It’s why Timber Creek Capital is so qualified to help, because they have seen it all and can turn any idea in to a prosperous business.

Marc Sparks is the owner and founder of Timber Creek, LP. Add to that an author, philanthropist with Habitat for Humanity and an entrepreneur that turns new ideas into a business model most want to emulate. He also started a non-profit called Sparkey’s Kids, where he donates laptops to at-risk kids through the American Can Academy. He even has been involved in a homeless shelter called the Samaritan Inn, a Texas based shelter.