Any Pointers?
Hi all.
I’m an entrepreneur that’s fascinated by the current inefficiencies of the recruiting process in finance.
I’ve been looking to create a better way for young people to connect and recruit, and think a pay for mentorship service, wherein you can pay students who have interned at the firms you want to work at for bespoke advice on who to connect with, how to format resume, etc. Currently, the app is barebones - a page for mentors, and then a page for your chats with the mentors you’re paying. Mentor prices will vary depending on the quality of their experiences.
So this is my question.. is there anything you all would really value in an app like this… what would you most appreciate on a service that is LinkedIn but better, because I know we’re all tired of wasting hours connecting and getting no responses. Also, how much would you pay for a connection?
I’d appreciate any advice.
Based on the most helpful WSO content, here are some pointers to refine your app idea and make it more appealing to your target audience:
Key Features to Add:
Pricing Insights:
Differentiation from LinkedIn:
Challenges to Address:
How Much Would People Pay?
By addressing these points, your app could become a go-to platform for finance recruiting, offering a more efficient and personalized alternative to LinkedIn. Good luck with your venture!
Sources: Major Changes to WSO Mentors Service, Major Changes to WSO Mentors Service, Rate us on iTunes for a chance to win a FREE Resume Review or 1hr Mentor Session ($149-$199 value),
u are building a machine to get interns fired.
every bank's employment contract explicitly forbids monetizing the firm's brand or selling "access" to recruiting processes.
no rational incoming analyst will risk a $180k seat for a $30 consulting fee from a sophomore.
the only mentors who will sign up are the ones who don't understand risk management. and you don't want advice from them.
dead on arrival
Agree DOA. This one super tough and reality is from banks perspective these processes aren’t broken and most bank have very adept campus recruiting teams and have no problems filling seats - so this side of the market has a different problem in funneling down hundreds of resumes to some small number granted an interview. Offering access for some small amount definitely a non-starter and not worth the bank paperwork for an Outside Business Interest that would likely get declined. You may also likely go offsides with some schools campus recruiting programs though would double check that. Given above and solid pipeline if you were not able to deliver you also likely start to get hit with reputational issues for not delivering and potential predatory actions / charges.
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