A nicer problem to have: How do you cope when consumer demand grows faster than you can supply?
Richard Harris created a platform to help businesses communicate and better manage workloads. But with so many businesses clamouring for the product, how can a growing business prevent feeling overwhelmed by consumer demand?
Okappy is a B2B communications and collaborations platform which aims to help business owners re-think the best ways to manage their day-to-day workload.
The idea was born when an electrician approached Richard Harris, founder-to-be of Okappy, with a problem he was seeing a lot of time going to waste by himself, his customers and his subcontractors as information was copied between their individual job management applications. It was also leading to silly mistakes, disputes and missed invoices.
Okappy applies social and market networking technology to a real business need, the need to communicate and collaborate when working with lots of employees, multiple sub-contractors, across different sites and with different clients. It streamlines processes, reduces paperwork and increases efficiency.
Yet no small business is without its challenges, and despite so many companies crying out for a solution like Okappy, getting the idea off the ground with a small team can be hard work. Here, Richard outlines the challenges he has experienced with his business so far, as part of our Problem Solvers series.
What does a typical client look like?
At the moment, and given our resources, were targeting niche sectors such as electrical contractors, plumbing and drainage contractors. We find the companies that get the most value typically have between five and 250 employees and more than 2m in turnover. They are often family owned and are all ambitious, wanting to grow and be the best in their field.
What challenges have you faced since starting the business?
The lack of support was one of the hardest things to get used to. I used to work for a Tier 1 investment bank where support is available for everything from IT problems to HR. If I have any problem, it was just a case of picking up the phone and someone would be there to help. ‘starting a business from scratch was a big eye opener.If I wanted something done, or had a problem, I was pretty much on my own with only Google to help.
The other big difference I found between being in a big corporate and being in a startup is going from a stable (arguably boring) atmosphere to one with constant change and massive ups and downs. Working for a startup is like being on emotional rollercoaster ride. One minute you’re on a massive high when you win a customer, the next you could be running around trying to fix issues.
What has been your biggest challenge?
As a startup company with big ambitions, there’s so much you want to do, but so little resources with which to do it. With 20, 000 connections on our platform and interest from such a wide cross section of business across many countries around the world, the opportunity is massive. But with limited resources to satisfy consumer demand, were currently only scratching the surface.
With such limited resources, product development is also constrained. We currently have to limit the customers we take on and even turn customers away if they are the wrong type or that are looking for a particular feature, which we don’t currently offer.
How have you overcome this challenge?
We have overcome this challenge in two ways. One, by working smarter, and two through a successful fund raise.
Letitia Booty is a special projects journalist for Business Advice. She has a BA in English Literature from the University of East Anglia, and since graduating she has written for a variety of trade titles. Most recently, she was a reporter at SME magazine.