kevin bryan coduru
Post on 02-Jul-2015
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Number of customers:
Total: 29
Remote Interviewing Solutions
Kevin Lo Bryan Jadot
What we thought
• Hypothesis
o Engineers wanted a tool that would integrate
elements of a typical remote interview (video chat,
collaborative coding, code execution / testing)
• How we tested it
o Talked to 29 customers: many engineers, many
recruiters, 1 HR employee, 1 VC
Value Propositions
Problem
Wants to conduct
interview remotely but
needs to use several
mediums
Solution
Integrated product for
conducting interviews
remotely.
Key Features
1) Collaborative editor
with code formatting.
2) Record interviews
3) Execute and test
code.
4) Video chat
Customer Segments
Individuals
Hiring managers and
engineers conducting
interviews in software
engineering fields.
Companies
Initially growth stage
companies, but later
first tier, large software
companies.
Job they want us to do
Ability to effectively and
quickly interview
candidates, so they can
return to their jobs.
Key Activities
1) Customer
service
2) Sales
Key Resources
1) Servers (AWS)
2) IP of our code
execution server
Customer Relations
Encourage hiring
engineers to use the
free version. Spreads
virally through
company. Company
has to pay for the
additional interviews.
Key Partners
1) Amazon
2) Dice, Indeed,
Workopolis
Cost Structure
1) Servers
2) Designers
3) Technical support engineers
4) Account managers
Revenue Streams
1) Freemium
2) Monthly subscription
3) Yearly subscription
4) Per interview
Business Model Canvas
Channels
1) Website
Original design
Monday night - What we learned
• Small marketo TAM only $5-10M.
o Target market only $1.25-2.5M
• Engineers who conducted interviews were
interested in our product, but we weren't sure if
they thought the company was willing to payo Liked code execution but didn't feel like it was crucial
o Other features weren't as important
o Mostly, this process is useful for quickly screening out fakers
• A better idea of the recruiting and interviewing
processo From the perspective of engineers, recruiters and human
resources employees.
Market Analysis
• TAM: About 1-2 million software interviews per year
based on data from US Bureau Labor of Statistics.
o Charging $5 per interview, we will make $5-10 million per year.
• SAM: About half of these interviews are conducted
remotely and can run on our platform
o Many companies just hire locally
o $2.5-5 million per year
• Target Market: Growth stage (size: 20-2,000)
companies actively hiring
o $1.25-2.5 million per year
Value Propositions
Problem
Interviewers aren't
getting as much
information out of
remote interviews as
they want to.
1) Interviews take up
engineering time
2) Tough to assess a
candidate accurately in
a short amount of time
Solution
Integrated product for
conducting remote
interviews quickly and
providing predictive
analytics of employee
performance based on
questions asked and
evaluations
Customer Segments
Individuals
Hiring managers and
Engineers conducting
interviews in software
engineering fields.
Recruiters and CTOs
looking to get more
analytics about good
programming
questions
Initially from growth
stage companies, but
later first tier, large
software companies.
Job they want us to do
Ability to effectively
and quickly interview
candidates, so they
can return to their
jobs.
Key Activities
1) Customer
service
2) Sales
Key Resources
1) Servers (AWS)
2) IP of our code
execution server
Customer
Relations
Encourage hiring
engineers to use
the free version.
Spreads virally
through company.
Company has to
pay for the
additional
interviews.
Key Partners
1) Amazon
2) Dice, Indeed,
Workopolis
Cost Structure
1) Servers
2) Designers
3) Technical support engineers
4) Account managers
Revenue Streams
1) Freemium
2) Monthly subscription
3) Yearly subscription
4) Per interview
Business Model Canvas
Channels
1) Website
2) Talk directly to
engineers and
recruiters
Tuesday Night - What we learned
• Got more data about engineer concerns during
interviews
o Tool used to conduct interviews is not an area that
can be improved
o Concerns about false positives (bad hires are a
headache)
o Engineers don't want an automated solution either
because they can't see thought processes
o Additional legal issues
• Finished mapping the recruiting pipeline.
• Came up with the idea of an analytics platform
that could deduce correlations between
interview performance and job performance
Recruiting pipelineAt Facebook. Director of HR or
recruiting has a large budget for
these sorts of tools. Still working
on taxonomy of customers...
Value Propositions
Problem
Tough to assess a
candidate accurately in
a short amount of time
Solution
Analytics platform that
correlates job
performance with
specific interview
procedures and
questions.
Integrated product for
conducting remote
interviews quickly and
providing predictive
analytics of employee
performance based on
questions asked and
evaluations
Customer Segments
Individuals
Engineers conducting
interviews in software
engineering fields.
Recruiters and
engineering exec's
looking to get more
analytics about
interview effectiveness
Initially from growth
stage companies, but
later first tier, large
software companies.
Requested job
Ability to effectively
and quickly interview
candidates, so they
can return to their
jobs.
Key Activities
1) Customer
service
2) Sales
Key Resources
1) Servers (AWS)
2) IP of our code
execution server
Customer
Relations
Encourage hiring
engineers to use
the free version.
Spreads virally
through the
company. Forced
to pay.
Sell directly to
engineering execs
and head of HR
Key Partners
1) Amazon
2) Dice, Indeed,
Workopolis
3) ATS tools like
Jobvite
4) Evaluation
tools
Cost Structure
1) Servers
2) Designers
3) Technical support engineers
4) Account managers
Revenue Streams
1) Freemium Trial period
2) Monthly subscription
3) Yearly subscription
4) Per successful candidate interview
Business Model Canvas
Channels
1) Website
2) Talk directly to
engineers and
recruiters and
HR
Wednesday Night - What we learned
• More confirmation on problems with
interviewing platform: alternative isn't bad
enough to warrant paying for our solution
• Learned a lot about agency recruiters
• Competitive analysiso Who are the key players and their feature sets?
Recruiting / screen process is a very competitive
market
o What are people doing that is similar to us?
Competitive Analysis
Sourcing resumes1. AIRS Oxygen
2. Applicant direct
3. ResumeRobots
4. Staffback
Taking resumes1. ApplicantStack
2. eTap Marketing
3. Staffback
Filtering resumes -
90% of Fortune 5001. WelcomeTech
2. SuccessFactors
3. eGrabber
4. Staffback
Screening candidates1. Take the Interview
2. Get Hired
3. Wowzer
4. enRecruit
5. Ovia
6. Active Interview
7. HireVue
8. Spark Hire
9. VisualCV
10. Interviewzen
11. Alpine Interviews
12. Staffback
13. Stypi
ATS1. Taleo
2. Jobvite
3. Staffback
4. TheResumator
5. ZoHo Recruit
6. Zartis.com
7. Smart Recruiters
8. Kenexa
9. Bullhorn
HRM1. Insperity
2. OrangeHRM
3. WayPointHR
4. eAppraisal
5. Appraisal Smart
6. ICIMS
Value Propositions
Problem
Tough to assess a
candidate accurately in
a short amount of time
Solution
Analytics platform that
correlates job
performance with
specific interview
procedures and
questions.
Key Features
Ability to predict
Customer Segments
Individuals
Internal recruiters and
engineering exec's
looking to get more
analytics about
interview effectiveness
Initially from growth
stage companies, but
later first tier, large
software companies.
Requested job
Ability to effectively
and quickly interview
candidates
Key Activities
1) Customer
service
2) Sales
Key Resources
1) Servers (AWS)
Customer
Relations
Sell directly to
engineering execs
and head of HR.
Initially give away
for free to build
corpus of data.
Key Partners
1) Amazon
2) ATS tools like
Jobvite
3) Evaluation
tools
Cost Structure
1) Servers
2) Designers
3) Technical support engineers
4) Account managers
Revenue Streams
1) Trial period
2) Monthly subscription
3) Yearly subscription
4) Per successful candidate
Business Model Canvas
Channels
1) Website
2) Talk directly to
recruiters and
HR
Thursday Night - What we learned
• More validation with analytics platform idea,
although a lot of people were dubious without
seeing actual results because of amount of data
required.
• Another pain point from recruitero Problem: prioritizing resumes would help with recruiters
meeting recruiting quota
o Solution: correlate terms in a resume with the candidate's
success in the interview process to create a tool that can
identify what sort of resumes indicate good performance.
• Recruiting team has a budget somewhere
between $1000 - $10,000 before going through
VP for approval (LinkedIn)
Value Propositions
Problem
Tough to assess a
candidate accurately in
a short amount of time
Solution
Analytics platform that
correlates job
performance with
specific interview
procedures and
questions.
Key Features
Ability to predict
Customer Segments
Individuals
Internal recruiters and
exec's looking to get
more analytics about
interview effectiveness
Initially from growth
stage companies, but
later first tier, large
software companies.
Requested job
Ability to effectively
and quickly interview
candidates
Key Activities
1) Customer
service
2) Sales
Key Resources
1) Servers (AWS)
Customer
Relations
Sell directly to
engineering execs
and head of HR.
Initially give away
for free to build
corpus of data.
Keep it under about
$10,000
Key Partners
1) Amazon
2) ATS tools like
Jobvite
3) Evaluation
tools
Cost Structure
1) Servers
2) Designers
3) Technical support engineers
4) Account managers
Revenue Streams
1) Trial period
2) Monthly subscription
3) Yearly subscription
4) Per successful candidate
Business Model Canvas
Channels
1) Website
2) Talk directly to
HR and
recruiting
3) We know a lot
of recruiters and
engineers
Value Proposition
• Recruiters are basically guessing about the
helpfulness of their questions. What
questions are best?
• Recruiters say they need better analytics –
that ATS software does a terrible job at
analytics
• Solution: we provide a platform that ties into
ATS software like Jobvite and HRS software
that collects evaluations to provide feedback
on the effectiveness of interviewing practices
Key Features
• Page for interviewer to conduct interview
and upload comments afterwardso Lists questions to ask and ratings
(in order to gauge the interviewee more
accurately)
o Rate interviewee afterwards in categories like:
Code elegance
Communication
Experience
o Can import data from Jobvite periodically
This would be a frictionless and automatic
process
Basic design
Key Features (cont.)
• Page for performance reviews
o Users can rate hired candidates 1-2 years later in
categories like:
Productivity
Good teamwork
Technical skill
Any other aspect that HR wants...
o Compile all these statistics about performance
o Can periodically import data from performance
tracking software: Taleo, etc.
Seamless and automatic
How it works
Iterative approach to assessing candidates
Sourcing Assessing Decision
Evaluation pipeline
Recruiting pipeline
Where we go from here
• Develop a better understanding of the
market for an analytics platformo Size and demand
• Do additional competitive analysis of this
idea
o Analytics tools are often buried in ATS software.
These tools take time to get ahold of since we're
currently going through sales channels.
• Flesh out the key feature set based on more
customer feedback.
Acknowledgments
• The awesome class
• Andy Sack
• Jon Feiber
• Ken Pickar
• Charles House
• Steve Blank
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