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Start a Job Board-Business Ideas

Start a Job Board-Business Ideas

Starting a job board is the easiest way to make money from online. This is one of the most underrated ways of creating an online business with no start-up costs. The global online job board market size was $28.68B in 2019 and is projected to reach $43.39B by 2027. Can you imagine that? 

we will discuss how this guy created a niche job site and started making over $60k/year.

Why do I like this business?

  • It's extremely niche - very little competition
  • You as someone from Bangladesh can do it even better - utilizing our cheap yet excellent labor force

The business I am referring to is: Japan Dev

Story of a Job Board Business

Meet Eric - the hero of our story today - and the founder of Japan Dev. In 2004, Eric was looking for a software engineering job in Japan and he quickly found a problem.

In Japan, it was extremely difficult to find a good company offering a good role - that also had a decent salary. Yes, there were traditional job boards - but they were not famous, they had no SEO and it was tough to find them on Google.

Eric didn't do anything about it at that time but he kept it in his mind. 8 years later, in 2012 - he started Japan Dev which now makes more than $62,000 USD/month - just from job posts.

Try to understand this

  • It was not a job board for everything - like BDJobs. It was a niche job board for tech jobs only
  • It was not available for everyone - they only targeted people who wanted to get a tech job in Japan

How can we use this success story to start a business in Bangladesh? Let's think.

Step 1: Trying to find out what our niche / target skill would be

What do we have a lot of in Bangladesh?

You can keep adding and soon you will have a list of 20 skills on a piece of paper. Now let's narrow that list down to 1.

Yes, 1.

Not 5

Not 10

Not 3

Just 1.

For the purpose of this email, let's imagine our one target skill is Virtual Assistance.

Step 2: Find 20 amazing virtual assistants in your country

Again, I want you to find 20. Not 10, not 5.

The reason that we want 20 is because 50% of them won't be good, 2-3 of them will have bad professionalism & a number of them might have bad English too.

We want 20 skilled virtual assistants in Bangladesh who have a core VA skill and who are also good at English.

Talk to the coaching centers, try to find good freelancers on Upwork / Fiverr who are also from Bangladesh, network, join FB groups.

This shouldn't be very difficult because people need jobs and you are giving them job opportunities.

Step 3: Create your brand

Create the website. Try to model one of your competitors like https://www.virtualstaff.ph/ - who does the exact same thing but for Philippines.

It shouldn't take more than 30 days for you / the company you hired to create a solid - brilliant looking website.

Add the social presence on top & you are good to market.

Step 4: Sorting the Chicken & Egg Problem

Whenever you are building a two sided marketplace (Airbnb, Uber, etc) - you have a problem that's known as the Chicken & an Egg problem.

Remember the story of what came first, Chicken or the egg? The same question applies here too. Who will we get first? The VAs or the employees? I say - get the VAs.

Create a profile for each of those 20 VAs you manually recruited and post it on the website. Talk about their profile, their history, their skills, why they would be great, get videos from them if possible where they are explaining why companies should hire them.

And you are ready to find employers now.

Step 5: How do we find employers?

Different marketing professional will have different approach towards how to market this. I would go for sponsoring podcasts & Google Ads. That's it. I will create a marketing budget - that would be as high as I possibly can. I will then divide it into 2 parts & 50% will go towards podcasts and other 50% towards Google Ads.

I will sponsor as many business podcast as I can & also I will bid on all keywords related to hiring virtual assistants. This should give me my first 10 customers. Honestly, I will be very surprised if you don't get 10 customers within 3 months of starting the business.

Step 6: The Monetization Model

This is tricky and certainly not the easiest of steps. Different job boards have different style of monetization.

Style 1: Companies pay when they post a job

Style 2: Employees pay to stay on the website so companies can find them

Style 3: Sponsorships and ads on the website

Here's I think will work for you:

  1. Don't take any money from the employers.
  2. Take 50% of the first two month's salary once employers hire someone on your platform

That's it.

Let's keep it simple and it will work out great. How were the case studies?

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