Home Success Stories That’s Me – A Hair Care Start-up That Made A 10% Increase In Revenue By Data-driven Mindset

That’s Me – A Hair Care Start-up That Made A 10% Increase In Revenue By Data-driven Mindset

by Hannah Nguyen
192 views

That’s Me – a hair care start-up with an ambitious vision 

Established in 2019 with a vision to empower customers to be the best version of themselves, That’s Me, a Germany-based hair care start-up, has been constantly growing and expanding itself into a well-renowned brand with top-notch hair cosmetic merchandise.

“From automotive to the beverage industry, anything made in Germany is regarded as top-quality products. So, why not hair care products?” 

Derrick-Mensah Asiamah | Managing Director

With that vision in mind, Mr.Derrick and the whole team initially get started with just a few items including their best-selling definition cream, shampoo, and hair spray serum. 

A quick glance at That’s Me diverse hair care products from mousse to hair serum

A quick glance at That’s Me diverse hair care products from mousse to hair serum

 

However, That’s Me’s vision is now much bigger than just a hair care retailer. According to Mr.Derrick, Managing Director of That’s Me, the brand will launch many more skincare products alongside its popular hair-care line. 

That’s Me’s vegan moisturizer and hand cream product lines

That’s Me’s vegan moisturizer and hand cream product lines

“We are a bootstrapping startup and want to continue to add new hair cosmetics and skin-care products to our product portfolio so we can achieve healthy growth and enter new markets in the medium term.”

With the expansion to the skincare niche, the brand’s ultimate goal now is to accomplish its vision – “To empower customers to be the best version of themselves.” 

Bootstrapping and encountering problems

With great opportunities come great challenges, as That’s Me scales up its business, the brand opens itself up to endless selling opportunities and, well, inevitable difficulties as well.

As a bootstrapping startup, it was immensely important for That’s Me to be well aware of all the important metrics so they could make more informed decisions to survive and more importantly, to thrive in the long run.

That’s Me needs to make sure every move they make is based on historical data

That’s Me needs to make sure every move they make is based on historical data

“Without seeing our business’ exact margins, it’s tough for us to decide where to allocate financial resources or which marketing initiatives to prioritize when launching new products.”

Derrick-Mensah Asiamah | Managing Director 

At first, That’s Me relied on Excel to work on their financial data. But they soon realized how time-wasting and exhausting it is to analyze their business KPIs in such a conventional way.

As their business grows with many more orders and costs involved, manually updating each small piece of data using Excel turns out to be a nightmare. Even minor typing can ruin the whole calculation, making the final results no longer accurate.

And it is at that time That’s Me realized Excel doesn’t work anymore.

Making data-driven decisions & increasing revenue by 10% 

In the face of exponential growth, That’s Me has come to TrueProfit, an application that, as Mr. Derrick claimed, is a game-changer to the way his whole team runs the business. 

“It is very extensive to work out financial data using Excel or other tools. TrueProfit has helped us a whole lot, especially the live tracking has been very important for us at certain times to see whether we are still in the area of profitability or not” Derrick-Mensah Asiamah | Managing Director

According to That’s Me Director, TrueProfit takes a lot of work off our shoulders when it comes to calculating profitability. To his view, eCommerce is often about “bean counting”, so a bootstrapping startup needs to know all the financial KPIs in order to scale.

That’s Me’s team now has more time to focus on growing their business

That’s Me’s team now has more time to focus on growing their business

And thanks to TrueProfit, the German hair care start-up has seen a 10% increase in its revenue within just 3 months – quite impressive but that’s a possible result of making data-driven decisions.

“TrueProfit has become an inseparable part of our everyday business, and we can’t imagine life without it. It helps us every day to have an accurate overview of our figures and especially the profitability.”

Derrick-Mensah Asiamah | Managing Director

To sum up: you can’t improve on what you don’t measure!

That’s Me can achieve such an accomplishment thanks to their data-driven mindset – a key to achieving long-term success for any start-up or entrepreneur who is serious about elevating their business in today’s fiercely competitive and ever-changing eCommerce.

 

Related Posts