Neil Patel

Podcaster & Self-Taught Coder.

8

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Payyola - Reward Your Freelancer

1. Business Model

My BIG IDEA is Payyola

 

Payyola is a global online recognition platform through which individuals and organizations can reward their freelance workers & virtual assistants.

We offer companies and websites such as Elance an opportunity to thank their freelancers in kind rather than in just words.

 

E.g. Music Downloads, EBooks, Spa Treatments, Frappuccino’s -And More!

 

“Thank You” is nice.
Vouchers are Better

 

A good freelancer & virtual assistant is hard to find, but when you find one, you’re always telling them “thank you.” Wouldn’t it be nicer to give something more than words?

 

 

Everybody loves surprises, especially unexpected one’s and people would love you all the more for them

 

This will promote the loyalty of your freelancers and also motivate them. The most important fact is that it is cost efficient, you won’t be spending much money on it but the rewards will be much greater.

 

It’s those little things that have the greatest impacts, especially if you weren’t looking for it.

 

Our goal is to create happy workers who in turn create happier clients

 

3 facts which I believe will make this a big success

 

1)    Cost of developing a web app has decreased

2)    Rise of cloud computing

3)    Growing number of businesses using freelancers around the world

 

Spent Xmas time producing a basic web app www.payyola.com

 

 

Video Pitch http://www.youtube.com/watch?v=9CXi8N3u49E

 

‘There are those who give with joy, and that joy is their reward’ – Khalil Gibran

update  17.01.2014

2.  Entrepreneur, write down how you will

  • Relentlessly hire people to delegate work to
  • Give yourself a promotion so you are constantly doing work you're unable to hire anyone else to do
  • Build an organization that has the cash flow to permit you to do those two things...

3: Funding

To do...

4: Hiring Plan


Who are the first employees you need?

1 x developer - skills rails , bootstrap.

1 x Sales - b2b
2 x Marketing - Digital
1 x Designer with UX & UI skills

Where will you find them?

Meetups
Networking events
Elance & Odesk & freelancer.com
friends.
Work colleagues
Linkedin
Other social media sites

Why would they join you?

Get to work on something new
No bureaucracy
Interesting challenge

What's your funnel?

not to sure what this means.


After hiring people, how will you evaluate them?


Whether they are a good fit for the team, friendly, can work in a small team & environment. Can work long hours , Can work to tight deadlines. 

How long after starting will you give people a formal review?

I would say after 90 days

What's your approach for talking about the uncomfortable?

Don't know

Are you asking people to do work that's been done before, or to explore the edges of a new universe?

Work thats been done before - but potential to explore the edges of the new universe.

Update 28th Jan

  • How much is your product or service going to cost?

I plan to charge $5 per employee or per month or i could introduce a tier system - form small / medium / large companies , but it could possibly depend on how many gits they give every month

  • How much does it cost you to make one additional unit?

This is a web application so this is n/a

  • How much is your monthly overhead, all the expenses that aren't included in the cost of making one more unit.

I will look to bootstap this myself as a side project , and i have a full time job - So it will be a miminal monthly overhead , but i will spend a small amount on marketing - inbound and outbound

  • How many units are you going to sell every month?

Not too sure this is a b2b app so will look to have 10 companies sign up every month.

  • Now you know what the monthly profit is (IF you sell all you make, AND people pay on time).

Not too sure /

update 04/02/2014

Positioning - struggling with this - any suggestions would be apprecated!

 

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