Business Idea Competition: Miaoguide
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Business Idea Competition: Miao guide An official account on the largest Chinese Social Media App WeChat. Miaoguide is made for helping Chinese international student find internship or full time job at US job market. This business Idea competition was held by UTD-JSOM Entrepreneurship division
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Business Idea Competition: Miaoguide
- 1. A Professional Platform for Chinese Job Seekers in US Demin Wang | Kan Zhang | Si Han | Xinyu Hu
- 2. Problem Difficulties Finding Jobs in US 1 Challenges to find Chinese Candidates 3No Easy Way to Referrals Among Peers 2
- 3. Now We Have
- 4. Solution Match ShareJob Seeker Education Largest Chinese Job Referral Platform in US Online/Offline Training Programs Real-time Visibility & Matched Job Needs Sustainable Networking & Referral
- 5. How It Works? Step 1: Identify Sign up & upload resume Step 2: Match Match job seekers to open jobs Step 3: Apply Take the opportunities with ease Options: Training Improve interview skills Options: Networking Meet more professionals For Job Seeker
- 6. How It Works? Step 1: Post Sign up, upload job description & criteria Step 2: Match Match candidates to your position Step 3: Refer to HR/Manager Deliver the candidate’s profile to company For Referrer (Peers) Step 4: Reward Gain $cash bonus from MiaoGuide
- 7. How It Works? For Recruiter Step 1: Post Sign up, upload job description & criteria Step 2: Match Match candidates to your position Step 3: Attract Attract qualified candidates with ease Options: Reach more candidates View more candidates resumes Options: Branding yourself Impress your prospects on MiaoGuide
- 8. How It Works? Job Seekers Referrers Recruiters Automatic Matching Qualified Candidates Productive Recruitment Tool Lower Costs
- 9. Business Model RecruiterReferrer Job Seeker Miao Guide Cash Reward $1-$3/applicant Referral job Application Fee $10 / job or $200 / month Training Programs $100/session Sponsor Events $1,000+ Networking $0-$50 / Event Candidate’s Fee $2 / candidate or $300/month Listing Fee $0 - $300 / job Training $250,000 Event $50,000 Application Fee $30,000 Candidate’s Fee $900,000 Listing Fee $270,000 Events $12,000 Job Seeker Recruiter Est. Revenue in year 3 $1,512,000 $330k $1,182k
- 10. Market Validation Referral is the most effective way to find a job in US
- 11. Marketing & Sales Job Seeker • Chinese Chambers in US • University Career Center • Staffing Companies • Chinese Companies in US • US Companies expanding into China Market • Email Marketing • Direct Marketing Target Reach Strategy Recruiter • Free service in Pilot Run • Ambassador program • Chinese Students in US • Employed Chinese who seeks for new job Referrer • Employed Chinese • Reward $Bonus Recruiter Job Seeker • Networking Events • Student Organization Website/app: SEO+PPC Social Media: WeChat, Weibo, Facebook, LinkedIn
- 12. Competitive Analysis MiaoGuide Direct Competitors Indirect Competitors Price for Job Seekers $-$$ $-$$ $$$ Price for Recruiters $$$ $$$ $$$ Value for Referral √ × × Easy to find jobs √ √ × Matched search results √ × √ Job Seekers Education √ × √ Networking √ × √
- 13. Financial Projections $68 $447 $912 $422 $510 $600 Year 1 Year 2 Year 3 EBIT Expenses Financial Projections – (in $000’s) $490 $957 $1,512
- 14. Company Roadmap Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Organization Development Product Development Customer Validation Fund Raising Staff RecruitingCompany Formation Office Set up IT System Development Beta Testing Web System Operational App Development Training Program Launch Events Launch Pricing Strategy Planning Recruiter and Referrer validation Test Marketing Continuous Customer Validation Seed $150K Series A $1-3M Onboarding & Training Business Development with recruiters 2016 2017 2018 3/17/2016 MiaoGuide Launched on WeChat UTD BIC First Funding Round Company Registration Web Launch Business Development in Texas Business Development in US Second Funding Round Break-Even Marketing Strategy Implementation
- 15. Management Team Demin Wang | CMO & Founder M.S Marketing-UTD 2-year’s experiences in marketing & sale Si Han| COO M.S Marketing-UTD 2-year’s experiences in HR Management Xinyu Hu| CTO Ph.D. CS -UTD 2-year’s experiences in online platform and mobile apps development Kan Zhang| CFO M.S. BA-UTD 7-year’s experiences in strategy planning & project management Neil Johnson Advisor 15+ years of experience in education and career services
- 16. Q&A
- 18. More Customer Validations | Student status
- 19. More Customer Validations | difficulties and channel Difficulties to get a job Where to find a job
- 20. More Customer Validations Do you believe career center are helpful enough? …method/way/channel to get referral opportunity…?
- 21. More Customer Validations | Referral Would you pay for a referral with reasonable price? …reasonable price…?
- 22. More Customer Validations | Networking Events pay for a networking events with reasonable price? …reasonable price…?
- 23. MiaoGuide Now
- 24. MiaoGuide Now Number of followers in past 7 months Job Search 100,000+ visits 1,000+ Jobs Subscribe+ 1,500+users Monthly Social Events
- 25. Business Model Canvas Partners Cost Revenue Key Activities Key Resources Value Proposition Customer Relationship Channels Customer Segments Colleges Companies Training Schools Study Abroad Agencies Operations Training Networking Developers & Software Big Data Match Share Grow up Chapters in US Colleges Subscription VIP Service Job Seekers Recruiters Referrers IT Develop Operation Marketing Referral Bonus Labor Referral Jobs PPC/Monthly Fee Candidate’ Contact PPC/Monthly Fee Training Sponsored Jobs Ads & Events
- 26. Web Tech Flowchart Real-time up date Post free refers through app and Web to all users Info collection analyze and store resumes from the users in the database Bilateral match Send job opportunities to qualified users. Access and compute Send the matched members’ info to the referrals provider. Recommendation Offer other service when a user have trouble finding a job Refine and info update Tracking the users incase they can be referrals provider. Using: Database design Web Programing Information security test
- 27. Industry Ecosystem International Student Recruiting Industry Resume Review Interview Skill training Work Status Agency Overseas- study Service Agency Professional skills training Job Information Professional Recruiting Industry Job Information Networking Events Stuffing Company
Editor's Notes
- More than 300,000 Chinese students come to US every year with the CAGR of 10.4%. Less than 20% of them can find jobs in US after graduation because of the language barrier and the lack of job opportunities. Five million Chinese workers in US are willing to refer other Chinese job seekers to internal job opportunities. Thousands of multinational corporations in US striving to expand into China Market have a myriad of challenges to find qualified Chinese candidates by using the traditional recruitment tools.
- Our recruitment platform, MiaoGuide, launched in 2016, was created to solve the problem. The mission is to connect the Chinese job seekers, referees and recruiters to make the recruitment more productive. We’re providing referral jobs, training and career advice. We cultivate Chinese job seekers We are aiming to be a professional network for Chinese Job seekers in US.
- Our recruitment platform, MiaoGuide, launched in 2016, was created to solve the problem. The mission is to connect the Chinese job seekers, referees and recruiters to make them more productive and successful. When you join MiaoGuide, the job seekers get access to jobs, updates, feeds, insights and training to help them find dream jobs. The job referrer can earn cash bonus by sharing internal jobs. And a large database of resumes facilitates the recruiters to find ideal candidates.
- Free to view all jobs Free to apply external jobs Free to receive matched jobs Pay for internal referral jobs (Price: $10/job or $200/month) Free to publish jobs Free to view applicant’s contact Gain a 10-day’s free application for any internal referral job or cash reward. Free to publish jobs Free to view applicant’s resume and contact Free to gain alert of matched candidates Pay for contact (Price: $2/candidate or $300/month) Pay for sponsored Jobs
- Assumption: Membership: 10%; Training=member*10%; Referral 100,000*10%*2=20,000;