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What I’ve Learned As A First-Time Entrepreneur

By February 21, 2017Uncategorized

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Hello! WellNest Home Services is 7 months old. With over 100 subscribed customers and a retention rate that remains over 90%, we are knocking on the door of having a scalable, sustainable business. It’s been challenging, rewarding, frustrating, miserable, all the feelings. I was recently asked by a former colleague, “so what have you learned so far since you left corporate America and became an entrepreneur?” Here goes…

1 – Don’t force the idea. Adapt and iterate.

Entrepreneurs spend countless hours and late nights preparing for launch with one idea in mind. You quickly realize you were pretty far-off so you can fold or adapt. The best ones adapt as they’re simply solving a different problem than they had anticipated.

Our story — Our pre-launch target market was young professionals (millennials) that live in dense high-rises. We would be lean — no office, no cars, just amazing people and modern technology in the form or ride-sharing platforms like Uber. Families loved our natural products, trustworthy crews, and the ability to work around their family routines. As a young family ourselves, we understand this market and the pain points. We now know our exact market fit but are currently testing our Discounts for Flexibility Program to reach the millennial market. Stay tuned.

Don’t force the idea. Adapt and iterate.

2 – Focus on users, not revenue. But not all customers are good customers.

The pricing models within the airline and house cleaning industries are rather similar. You think the flight is $350 but then you’re paying extra to check a bag, select your seat, add legroom. In house cleaning, it’s first-time cleaning fees, per-hour fees, anything to maximize the value out of each individual job. We are focused on the lifetime value of each customer even though our job margins are lower than our competitors. Why? Because turnover and acquisition is more expensive than retention. 

All that said, not all customers are good customers. Location matters. Customer attitude matters. Gut feelings matter. If a customer is rude or condescending to my team, you bet we will not be going back to that home ever again.

Focus on users, not revenue. But not all customers are good customers.

3 – You need patience, lots of it. However long you think it’ll take, double it. 

This has been my personal ultimate frustration. I come from a consulting environment where everything is done with speed and efficiency. Our cleanings are fast but if something needs to be done on the business end, it always takes much longer than anticipated given our limited resources. Talk about a wake-up call compared to my former life!

Some examples — Our launch was delayed for various reasons. It took us months to find the right fit for the Manager position. Hiring one staff takes weeks because of how particular we are. Everything just takes longer when you have limited resources and if you aren’t ready for it, it’ll drive you crazy.

It’s a marathon, not a sprint. You need patience, lots of it. However long you think it’ll take, double it. 

WellNest Home Services is a 100% all-natural, 100% online residential cleaning service. Our mission is simple: remove the stress and anxiety out of maintaining a clean home. If you’d like to learn more about us, get a price, or schedule a booking, head to www.gowellnest.com or give us a call at (800)791-2878. For cleaning tips and more blog posts, follow us on Instagram, Twitter, and Facebook. @gowellnest. (800) 791-2878. Ask for Phil.

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