As a seasoned entrepreneur, I'm always reading about what's new and up-and-coming in the startup world.
The company, and most importantly its mobile app, connects clients with professionals in various industries for on-demand services. The services include home repairs, cleaning, pampering, personal training, even childcare "“ all available with the touch of your finger and at your door within an hour.
Essentially, anything you can think of that you don't want to do yourself, you can simply outsource to BIZZBY, an idea which we'll come back to later.
The company reportedly fulfills thousands of jobs per week from its website and app. So far, it has raised $10 million and is planning to raise $50 million this year to support the rapid growth in the UK and push its international expansion.
Simply put, I think the idea behind BIZZBY is genius. The services market is currently worth $500 billion, with Amazon and Google trying to get a piece of the pie as well.
I also think the founder and CEO of BIZZBY, Rohan Sinclair Luvaglio, is a genius. Luvaglio is a completely self-made man "“ a trait we share in common.
Luvaglio started his first business "“ buying and selling furniture "“ when he was only 15 after moving in with his aunt in London. He would read the classifieds in the newspaper to see what people were looking for and would call them up, offering them what they needed. He made his first million by age 18. After, he got into the computer business and went on to co-found Just Results PLC, which he sold for $57 million in 1999.
He did, however, experience some failures on the road to success. In 2008, he attempted to develop a luxury technology brand, like Apple. But after 6 years of working on the company, he realized it wasn't the time to launch a high-fashion brand, so he moved on.
While Luvaglio's path to success was not exactly linear, his innate ability to take risks and be fearless is what makes him admirable. Risk tolerance (or lack thereof) is one of the most important factors that determines success in business.
While BIZZBY is a clear example of where the services industry is headed, it's not the first attempt that's been made at connecting consumers to home services.
Homejoy, a startup that also attempted to connect on-demand services with clients, was initially extremely successful but announced it was shutting down in July 2015. It raised $38 million to fund expansion but couldn't retain customers because they offered too many incentives for new clients, but not enough to keep the old ones.
Luvaglio is sympathetic to HomeJoy's demise, and believes that his company's versatility and flexibility will keep customers using the platform. This versatility includes the large array of services offered, as well as software he's developed himself to manage the app.
One of the reasons I am so impressed by Luvaglio is because he saw a problem in our society "“ an extreme time shortage"“ and created something useful to help solve the problem. I write quite often about outsourcing and the idea of "do what you do best and delegate the rest". Luvaglio has made it easier for people to do what they want to do, what makes them happy, and simply let someone else handle the other bits.
Luvaglio has tapped into a market and is giving professionals their time back in a very real way. I'm looking forward to seeing what else is in store for Luvaglio, BIZZBY, and the services industry as a whole.