good apples columbia

Lean Launch PadDay 5: January 15, 2016

Team #18: Cohort 4 (formerly SmallHappySouls)

Hatem Berrima - EMBAHarry Etra - EMBA

Jeff Gabriele - EMBAJaime Gacitua - MSEAkshit Mehta - MSE

Customer Discovery

Thur. Afternoon/Friday Interviews: 11

Total Interviews: 82

1

Candidate-focused recruiting agency that matches invisible candidates to hard to fill roles based upon

skills, personalities and career goals.

Key Partners Key Activities Value Propositions Customer Relationships

Customer Segments

MULTI SIDED PLATFORM:

Key Resources Channels

Cost Structure Revenue Streams

- 25-45- >$50k- Exp. > 1 Year- Global- Uses Some Recruiting Resource

- Large well known companies- Have standard positions (easy to simulate)- Awareness of the benefits of personality tests

- Providing analysis of your personal traits- Getting a job with firm where you will be happy- Providing self-improvement tools like feedback, articles,etc.

- Getting candidates that are intellectually & culturally suitable- Reducing the risk of mismatch in terms of bad hire

Direct:-Website-Blog-Social Media

-Website-In house Sales Force

- Automated Services- Co-creation

Dedicated personal assistance

-Tests Free-Mentorship: Usage fees

-Subscription fees-Placement fees

-Physical:-Intellectual-HR:-Candidate list-Tests

-Algorithm-Platform/Network Management-Service Provisioning(companies)-Platform Promotion

OPTIMIZATION & ECONOMIES OF SCALE:

-Psychometric Test Companies-Server & Cloud-Linkedin-Glass Door

CAREER SERVICES:

-Private college-Community college-Different institutions

-Tests-Server-Website-Content Creators

-SGA-R&D-RENT-MISCELLANEOUS

Day 1

Key Takeaways: Day 1

We needed to pivot or we were at a dead end

None of the current players have achieved success even though they have been working at it for 3+ years and spent millions of dollars

There are a number of players in the analytical recruiting space

Building a petal diagram is a great way to research, understand and view a market

We did not have a unique insight or key differentiator

RecruitingAgencies

Onl

ine

Job

Boar

ds

Com

pany

Repr

esen

tativ

es

Executive

Search

Firms

Online

Professional

Comm

unities

Online Analytical Platforms

Good Apples

4

Good Apples Petal Diagram

Company Recruiting Platforms

Good Apples Market Size

$124 Billion US Staffing Market

$36.9 Billion US Recruiter Industry

$3.4 Billion US Online Recruitment Spend

5

Sources: www.ibisworld.com/industry/default.aspx?indid=1463http://www.recruitingblogs.com/profiles/blogs/global-staffing-industry-sales-top-400-billionhttp://www.socialtalent.co/blog/biggest-global-recruiting-trends-of-2015-so-far-infographic

http://www.recruitingblogs.com/profiles/blogs/global-staffing-industry-sales-top-400-billion

http://www.socialtalent.co/blog/biggest-global-recruiting-trends-of-2015-so-far-infographic


Customer Segments




- 25-45- >$50k- Exp. > 1 3 Years- Global US- Uses Some Recruiting Resource

- Large well known Established companies- Have standard positions (easy to simulate)- Awareness of the benefits of personality tests cultural fit

- Providing analysis of your personal traits.- Align job search and career goals with personality and skills, beyond past experience and current position - Providing insight self improvement tools, feedback that help you develop your career path.- Getting a job with firm where you will be happy

-Direct-Website-Blog-Social Media






-Physical-Intellectual-HR-Candidate list-Tests

- Algorithm- Platform/Network Management- Service Provisioning(companies)- Platform Promotion- Regulation- Candidate Review


- Psychometric Test Companies- Server & Cloud- Linkedin- Glass Door- Recruiting firm

CAREER SERVICES:

- Private college- Community college- Different institutions


-SGA-R&D-Rent 6

- Enhance pre-screening process to be more efficient and effective, through personality profiling - Getting candidates that are intellectually and culturally suitable, in addition to skill matching.- Getting candidates who may be moving from other industries or functions, that skill-based matching may not find.- Reducing the risk of mismatch

Day 2

Candidate Hypotheses to Test and Pass/Fail ExperimentsHypothesis Test/Experiments Pass/Fail Signals Results

Candidates: Candidates want feedback on why they don’t get positions and what they can do to improve

Ask what kind of feedback they would like. Share sample job rejection feedback and ask if it is valuable. Ask if they will pay for it and how much. Get financial commitment during the interview

Candidates want to know skills and personality/culture gaps for jobs

PASS (Common response from career switchers)

Candidates: Candidates are willing to pay to help them find a job

Put together an offering sheet with 4 offers and have candidates select the ones they want

Candidates will pay up to 5% of first year’s salary

FAIL (Willingness to pay at high end was 1% to 2% of first year’s salary)

Candidates: Candidates will be willing to spend the time to take personality and neuroscience tests? Will they will be ok with us sharing the result with companies?

Ask candidates how much time they would be willing to invest in taking tests. Show candidates example tests. Show candidates the results of tests and ask them if they would be ok with us sharing it with other people

Candidates will spend up to 1 hour on personality tests as part of job process

PASS (Candidates willing to take personality tests if they will get feedback and think time investment will increase chances of getting a job.)

Candidates: Career changers would pay for help to get a position in their new career

Ask a hybrid candidates Willing to pay a one-time or subscription fee for access

PASS/FAIL $50 one-time1% to 2% of salaryFreemium approach

7


Customer Segments




- 23-35 years old- >$50k- Exp. > 1 3 Years- Global US- Uses some recruiting resource or personal networks

- Large well known Established companies- Have standard positions (easy to simulate)- Awareness of the benefits of personality tests cultural fit

- Providing analysis of your personal traits.- Align job search and career goals with personality and skills, beyond past experience and current position - Providing insight self improvement tools, feedback that help you develop your career path.- Getting a job with firm where you will be happy







-Physical-Intellectual-HR-Candidate list-Tests-Career Aspiration Survey

- Algorithm- Platform/Network Management- Service Provisioning(companies)- Platform Promotion- Regulation- Candidate Review- HR/Hiring Mgr Training


- Psychometric Test Companies- Server & Cloud- Linkedin- Glass Door- Recruiting firm

CAREER SERVICES:



-SGA-R&D-Rent 8

- Getting candidates who may be moving from other industries or functions, that skill-based matching may not find.- Getting candidates that are intellectually and culturally suitable, in addition to skill matching.- Enhance pre-screening process to be more efficient and effective, through personality profiling - Reducing the risk of mismatch

Day 3

HR People, Hiring Managers & Recruiters: Hypotheses to Test and Pass/Fail Experiments

Hypothesis Tests/Experiments Pass/Fail Signals Result

HR People, Hiring Managers & Recruiters: Recruiters are an expensive outsourced hiring resource for companies

Ask company HR people how much they pay to recruiters annually and how long recruiter candidates last at companies vs. direct hires

Outside recruiters are significant costs for HR departments and companies

PASS (Third-party recruiter fees are at a minimum more than 2x internal employee referral fees)

HR People, Hiring Managers & Recruiters: Companies are not satisfied with the (number and quality) of candidates they get through recruiters.

Ask how many resumes on average they receive. Ask what percentage they actually interview. Ask if they think they are getting too many that are not applicable

HR people say they have not been satisfied by using outside recruiters

PASS/FAIL (Mixed results: works better for senior level positions than junior/entry-level roles)

HR People, Hiring Managers & Recruiters: Companies would like to receive fewer better fitting resumes. Companies would be willing to pay for this.

Ask if they would prefer to review a smaller number of better fitting resumes, versus a larger number that they can distill through

Say that any solution needs to demonstrate direct cost savings

FAIL (More feedback on making process easier vs. direct time savings)

HR People, Hiring Managers & Recruiters: Career changers are invisible, and they would pay if they are presented a compelling career changer.

Show our MVP to a Recruitment Manager, ask if they would be willing to present our candidates one of their clients

They will be willing to give us $7,500 for every person we show them and gets hired.

PASS/FAILWould pay up to 10% of first year’s salary

HR People: they are interested in an Artificial Intelligence tool that learns from past recruiting decisions and help them make future decisions.

Ask if they are interested in such a system and how much they are willing to pay for it. Ask if they see that the system will benefit their relationship with the hiring managers and help them make better decisions.

Say that need the solution and are willing to pay for it.

PASS ( Would help in assigning proper job description to get the right candidates)

9


Customer Segments



Day 4

- 23-35 years old- >$50k- Exp. > 1 3 Years- Global US- Uses some recruiting resource or personal networks -Finds it hard to change roles- Large well known- Established Recruiting firms that serve middle market companies- Have standard positions (easy to simulate)- Awareness of Open to the benefits of cultural fit and hybrid skills

- Providing analysis of your personal traits.- Align job search with career goals, personality and skills, beyond past experience and current position - Providing insight self improvement tools, feedback that help you develop your career path - Getting a job with firm where you will be happy



- Automated Services- Co-creation-Word of Mouth-AdWords-Email Marketing-Workshops at graduate schools-Community based engagement


-Tests Free-Mentorship: $29.99/month

-Subscription fees:$1,000/year -Placement fees: $2500 of first year

-Physical-Intellectual-HR-Candidate list-Tests-Career Aspiration Survey- Recruiting Managers / Firms HR Contacts

- Algorithm- Platform/Network Management- Service Provisioning(companies)- Platform Promotion- Regulation- Candidate Review- HR/Hiring Mgr Training- Recruitment agency networking.


- Psychometric Test Companies (Psychometric, career preference...)- Server & Cloud- Linkedin- Glass Door- Recruiting firm

CAREER SERVICES:



-SGA-R&D-Rent-Coaches

10

- Providing candidates who may be moving from other industries or functions, that skill-based matching may not find.- Getting candidates that are intellectually and culturally suitable, in addition to skill matching.- Enhance pre-screening process to provide “invisible” hard to find candidates be more efficient and effective, through personality profiling

Key Takeaways: Days 2-4

Recruiters charge between 15 - 20%, so our initial margin will only be ~5%

Recruiters are our first entry into the market (Google -> Yahoo relationship)

HR is the biggest obstacle and are our SABOTEUR. This is the biggest barrier to entry, so we had to find a new channel to sell through

Job candidates are willing to provide their professional information and take personality tests, but not willing to pay for it

There are hard to fill positions that can benefit from people with transferrable skills and personality traits across industries and functions

Underserved market of “invisible candidates”


Customer Segments



Day 5

- 23-35 years old- >$50k- Exp. > 1 3 Years- Global US- Uses some recruiting resource or personal networks -Finds it hard to change roles

Established Recruiting firms that serve middle market companies and hard to fill roles- Have standard positions (easy to simulate)- Awareness of Open to the benefits of cultural fit and hybrid skills

- Align job search with career goals, personality and skills, beyond past experience and current position - Providing analysis of your personal traits.- Providing insight self improvement tools, feedback that help you develop your career path - Getting a job with firm where you will be happy

-Direct-Website-Blog-Social Media- Industry publications


- Automated Services- Co-creation-Word of Mouth-AdWords-Email Marketing-Workshops at graduate schools-Community based engagement


-Tests Free-Mentorship: $29.99/month

-Subscription fees:$1,000/year -Placement fees: 5% of first year’s salary

-Career Aspiration Survey-Physical-Intellectual-HR-Candidate list-Tests- Recruiting Managers / Firms HR Contacts

- Algorithm- Platform/Network Management- Platform Promotion- Regulation- Candidate Review- HR/Hiring Mgr Training- Recruitment agency networking.


- Recruiting firm- Psychometric Test Companies (Psychometric, career preference...)- Server & Cloud- Linkedin- Glass Door

CAREER SERVICES:



-SGA-R&D-Rent-Coaches

12

- Providing candidates who may be moving from other industries or functions, that skill-based matching may not find.- Getting candidates that are intellectually and culturally suitable, in addition to skill matching.- Enhance pre-screening process to provide “invisible” hard to find canidates be more efficient and effective, through personality profiling

Matchers

Companies

Candidates

Start-up

13

Fresh Graduate

Hiring Manager

Mid Level

Senior Level

LookingCareer switchers

Professional Communities

Job Boards

Recruiting Agencies

Career Services

Mid-size Company

Hiring Manager

HR

Large Company

Hiring Manager

HRTalent Management Software

LookingSame career

Passive

Business Process - Fresh Graduates

LinkedIn

Monster

Assessment tools (Personality tests)

Assessment Companies

Matchers

Companies

Candidates

Start-up

14

Fresh Graduate

Hiring Manager

Mid Level

Senior Level

LookingCareer switchers


Job Boards

Recruiting Agencies

Career Services

Mid-size Company

Hiring Manager

HR

Large Company

Hiring Manager

HR

LookingSame career

Passive

LinkedIn

Monster

Talent Management Software



Business Process - Senior Level

Matchers

Companies

Candidates

Start-up

15

Fresh Graduate

Hiring Manager

Mid Level

Senior Level

Lookingcareer switchers


Job Boards

Recruiting Agencies

Career Services

Mid-size Company

Hiring Manager

HR

Large Company

Hiring Manager

Talent Management Software

HR

Lookingsame career

Passive

LinkedIn

Monster



Business Process - Middle Level (Same Career)

Matchers

Companies

Candidates

Start-up

16

Fresh Graduate

Hiring Manager

Mid Level

Senior Level



Job Boards

Recruiting Agencies

Career Services

Mid-size Company

Hiring Manager

HR

Large Company

Hiring Manager

HR Talent Management Software

Lookingsame career

Passive

LinkedIn

Monster



Business Process - Middle Level (Changers/Hybrid)

Get filtered out by recruiters and HR

Assessment tools (Personality tests)Companies

Candidates

Start-up

17

Fresh Graduate

Hiring Manager

Mid Level

Senior Level


Good Apples

Mid-size Company

Hiring Manager

HR

Large Company

Hiring Manager

HR Talent Management Software

Lookingsame career

Passive


Business Process - Middle Level (Hybrid Candidates)Enter Good Apples

Matchers


Job Boards

Recruiting Agencies

Career Services

LinkedIn

Monster

18

Manpower

Hardest Jobs to Fill in 2015

1. Skilled Trade Workers

2. Drivers

3. Teachers

4. Sales Representatives

5. Administrative Professionals

6. Management/Executives

7. Nurses

8. Technicians

9. Accounting and Finance Staff

10. Engineers

Hard to Fill Positions -> Customer Segments

http://www.shrm.org/hrdisciplines/staffingmanagement/articles/pages/10-toughest-jobs-to-fill-2016.aspx#sthash.Xdeqh71x.dpufhttp://www.manpowergroup.us/campaigns/talent-shortage-2015/

Society for Human Resource Management

The 10 Toughest Jobs to Fill in 2016

1. Data Scientist

2. Electrical Engineer

3. General and Operations Manager

4. Home Health Aide

5. Information Security Analyst

6. Marketing Manager

7. Medical Services Manager

8. Physical Therapist

9. Registered Nurse

10. Software Engineer

Good Apples Customer SegmentsMillennials Manish and

Mary

http://www.sciencedaily.com/releases/2014/10/141001184410.htmhttp://www.businessinsider.com/generation-x-least-prepared-for-retirement-charts-2013-5

http://thedailybanter.com/2014/03/the-daily-banter-mail-bag-millennial-republicans-charlie-pierce-and-some-dude-is-really-high-right-now/; https://www.washingtonpost.com/lifestyle/magazine/the-confident-generation-millennial-women-are-changing-what-work-looks-like/2012/11/21/3b9f74d2-237c-11e2-ac85-e669876c6a24_story.html

23-35 years old, single without children

Jumps between jobs to build resume and experience

Looking for positions in a different industries and functions

Wants to be viewed beyond resume

Values cultural/personality fit in a company

35-55 years old, married with children

Gets inundated with resumes every time they post a position

Tired of candidates lying on resumes and in interviews

Spends too much time reviewing resumes, managing recruiting resources, and interviewing candidates

Concerned with employee churn and cultural fit

Hiring Hailey and Hal

Millennials Manish and Mary

Struggles to find job when changing industries or functions; does not know available options

Relevant experiences, interests, or personality traits may not be reflected on resume or LinkedIn

Hiring Hailey and Hal

Inundated with resumes and time-consuming manual resumereview for hard to fill positions

Hard to identify candidates that have transferrable skills

Personality and skill based matching add important dimension that develops long term relationship through platform with candidates and companies

Good Apples

Value Proposition -> Customer Segments

Millennial MANISH JHA

MSE/ SOFTWARE DEVELOPERWWW.LINKEDIN.COM/,MANISH

Manish would be an ideal fit in a Public Policy role.

22

- Word of Mouth- AdWords- Email

Marketing- Workshops at

graduate schools

- Network with recruiting agencies

Premium Customers:- Delivering

leads- Mentorship

-Build community-Blog-Webinar-Encouraging candidates to keep profile-Scraping & helping update their LinkedIn

- Certified course- Training Programs

-Networking event-Career Services-Email marketing

- Promotional events- Training/Seminars

-Dedicated personal assistance

Recruiters

Companies

Good Apples

$1,000

Monthly Subscription

$7500

$2,500Per

Candidate Placed

Candidates

Per Candidate

Placed

Monthly Cost Freemium

Model$29.99/month

$30

Human Resource

s

Internal Departments

Budget$750

0Per Candidate Placed

Manish

Hailey

https://en.wikipedia.org/wiki/The_SaboteurSTEVE BLANK- CUSTOMER SEGMENTS http://www.sciencedaily.com/releases/2014/10/141001184410.htmhttp://www.businessinsider.com/generation-x-least-prepared-for-retirement-charts-2013-5

Good Apples

Revenue Model

Next Steps

Find a company to test against best employees

Understand what level of information we can scrape from data tool

Target pool of candidates that are willing to take

Identify potential recruiter partners to test outputs from tests

Sample range of personality profile and neuroscience tests and potential outputs

Key Learnings

- Embrace the pivot

- Listen to lots of customers

- There are ups and downs, ups are better

good apples columbia

Education