AbStract
A two sided market platform,Hourly Nerd is engaged in matching freelance consultants with companies looking for help and struggling in order to define the growth plan for the coming years. It is an online marketplace that primarily connects companiesof different size with independent business consultants globally for project based work.The companystarted as a result of a class project in Harvard Business School and it is in the evaluation of taking a growth assessment through the following options;to shift the target of the company from small and medium-sized businesses to the customer of enterprise,to expand into new verticals such as engineering, legal and design services in order to become the Amazon of freelance labor, and to transform the current business model from a market place to the software-as-a-service (SaaS). Each of the above optionsis risky and requires human as well as financial resources. The purpose of the study is to determine the most suitable alternative and to provide justification in favor of the preferred option or alternative. Thus, it is to analyze that which path to choose over other.
HourlyNerd Harvard Case Solution & Analysis
The first path or alternative is to target the enterprise customers which are effective in terms of transforming the entire business.In order to make aneffective push into big companies, Hourly Nerd needs a persuasive focus on addressing the enterprise customer’s needs. By doing so, the company would be able to recalibrate its business all across the board. The company should focus on customer satisfaction, cultivation and retention. The company would become successful by fostering collaboration spirit with the enterprise customers and buildingand nurturing its relationship with them because they expect that the partners they are relying on are steadfast and committed. The alternative to enter into the corporate market is the recommendation for the firm.This will need a proper design and strategy to be implemented. As the organization has considered SMBs before, it has a more informal design in place and entering the corporate market will need a complete do over. This strategy is prescribed to the organization because currently, what the organization needs is more revenue and growth and the corporate world will provide this because of itsheavy payment schedules. The way it should be implemented is to create a division that will solely focus on one task to provide for corporate clients; enhancing relationships, designing strategy, focused professional sales force, and skilled strategists. Creating a division will link the new focus as a challenge with a separate department which is different from the structure of the organization which currently focuses on the SMB. After designing the strategy, it should be implemented and then integrated into the total organizational strategy of the firm. This would highly increase revenue generation capability of the organization and would create sustenance as well..........................
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