Business plan · Business planning

Vendor Recruitment Platform idea - Need guidance on how to take it forward

prashanth N Technical, Subject Matter Expert

September 11th, 2018

Hello Guys


I have a business idea (related to a Vendor Recruitment services for clients and generating business to vendors registered on our platform) and I have already been working with the target users on it and gained some very good traction from the vendors. We are more likely to have our first revenue generated out of this idea soon.


All we have as of now is just a domain registered and two email ids with that domain name.


However, we are not sure as how to take this forward, despite knowing that this has tremendous potential ( this feedback has been from the vendors who have already signed partnership deals with us). Any inputs on how to take this forward is appreciated.


Regards

Prashanth

William M. Digital Retention Lead | CX Empathy Strategists | Copywriter

September 13th, 2018

I'm taking a stab in the dark here and am guessing that this is a B2B SaaS-based platform. It also sounds like you've hit the infamous "Cabin in the Arctic" stage.


(This means you have the drive, but you have zero idea of what to do next when it comes to executing/building an idea or. You want to build a cabin, but you're standing in the arctic and there isn't a tree to be seen.)


There isn't much to go on and it sounds like you're at 1% of this journey, so for argument sake let us assume you're developing a B2B SaaS portal for clients looking to hire specific vendors (regardless of industry). I'll break this down as much as I can (simplified) and (because I love people) my inbox is always open if you have questions. Here are the basic (next steps to think about):


++++


/Develop a Marketing Plan & Business Plan (Marketing Plan is far more important because investor want to know where their money is being allocated. When I started my first company our Business Plan was really only used internally.)


/Build a Pitch Deck (this will help you sum up your idea to investors and us common folk. It provides a simplified roadmap and is vital for raising money, presenting at networking events, etc.)


/Do your Market Research (because your idea might suck. This is vital to better understand the people buying your product or using your service. Sure, you might have talked to some target users; but were they strangers and did you ask them the most important question?


"From everything I've told you, would you give me 100$ right now for this product?" (the amount can differ but it lets you know if people will actually pay for what you have- isn't that the end goal?)


/Wire-frame your 'Product' (essentially, build out what key features and what "just nice to have" features your product contains. Hire a UX Designer and sit with them to discuss layout. This will start to shape your idea and paint a picture of the final product. The wire-frame does not have to be a website- you can use InVision or any of the hundred other tools. UX is vital and having a deep understanding of your features, design and look will help shape the company/brand.)


/Look at building your MVP (this is your Minimum Valued Product- it means ' what is the simplest thing and most basic version of your idea/product that you could release to market?' This is when you hire a designer/company/whatever to build this-


{{Note: If you already have a WordPress site and your MVP is a login dashboard you can have them integrate this}}-


Now you'll have something you can actually sell. From here it's simply a game of keeping users and building upon the MVP. Make it a little grander every time. Look at getting a contract Sales guy to build a user base. Add new features and collect feedback. There are so many tools out there it's wild.)


PHEW!


I hope this helps a little and puts you on the right path.


Best of luck,

William


Gautam Sharma SEO Executive

September 18th, 2018

Foremost, You have to build a perfect team for your Project, then You have build a Startgy and plan to execute your startup and also focus on investors.

Brian Pindell 15 years at intersection of Real Estate & Construction, specializing in building new systems of...

September 21st, 2018

I am in this exact some space; early stage startup in stealth. The one problem I see, not a problem just a concern, is that you’re replicating the current model for a higher tier clientele (that’s a good niche) but, you’ll have to understand why the customer (not yours) wants to buy online, and what their concerns are in doing so. I am also concerned about you missing an opportunity to build products directly to the vendors that currently list through your site. My observation of the market is that it’s easier to be a DaaS (data as a service) then to a SaaS (‘Solutions’ as a Service). I believe you’ll be able to sustain your model by proving to both sides that you have their best interests in mind, it builds brand loyalty but, it requires you to do more than you’re currently doing. It also builds dependency on your product as they cannot do the same on their own without it. I could go into greater detail but I’m too early in my journey to be an expert on the specifics of execution but good luck.

Wally Barr Business Owner at Undrnu Management

September 18th, 2018

It is in the marketing of how you match suppliers with users in a different way then normal. My suggestion is value and social matching. If a company is a startup while they want an attractive long standing corporate partner it may not be a good match. What are missions and other goals? What is the environment? These are things that matter more today.

prashanth N Technical, Subject Matter Expert

September 14th, 2018

William


Thanks for your inputs.


Our platform is a B2B platform. We help Clients connect with Solution providers vendors. In simple it is like upwork or freelancer. However both these platforms are connecting Freelancers with small sized companies/ solo propitiatory companies to address there business requirements.


However, the platform we are planning to build is for medium to large scale clients and assist them in vendor recruitment.


Platform is open and free to both clients and Vendors(Solution providers).


Info in your post is much appreciated it gives us some direction as how to take this forward.


Regards

Prashanth