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Chicken or the egg with two-sided marketplaces?

My company brings together specific people and employers who are desperately looking for said people. Do I try and sign up the people or the employers (clients) first? Or do I try and get both at the same time pedaling just a promise and an idea? There are many more people than employers in this situation.

17 Replies

Ben Sweat
2
0
Ben Sweat Entrepreneur
Director, Product at Idealab
Ideally both. But one approach you could consider is making it more of a signup on a waiting list or something equivalent. That way there isn't an expectation of having a good experience yet and they aren't aware of your real numbers. But other than that you probably want to build in a balanced way, which I think is the most sustainable path. Sent from my iPhone
Thomas Jay
2
0
Thomas Jay Entrepreneur
iOS / Server Architect / IoT / BLE / iBeacon / Apple Pay
I just went thru this with http://HighTech.Careers and what I did was connect with 10,000 developers in a very passive way, I kept connected with them as I built the product.

I then started connecting with HR Managers and Recruiters, this was the long leg of the pole for me.

It was pretty simple getting the talent side lined up, the employer side is still becoming tricky.

I made the decision to go this way because I have passive talent and the idea was to present to employers that I had a list of people ready to view jobs, not a system that allows talent to be searched (There are patents on this side to be aware of).

Once I rolled it out I had Jobs listed and people could view the jobs, if I had people and no jobs to view I was concerned that the people would leave, its like a dating app without the opposite sex, makes a boring app - kinda like I worked on last year :)

Now I have thousands on the talent side but only a few hundred on the provider side.
Michael Barnathan
2
0
Michael Barnathan Entrepreneur • Advisor
Co-Founder of The Mountaintop Program, Google Alum
Trying to fill both sides of a two sided market simultaneously is a recipe for failure. Try seeding one side and bringing the other on with that seeded content, or find a compelling one sided offering to retain the initial population you need.
alexandr gubenko
0
0
alexandr gubenko Entrepreneur
director at GTL
Your business model should dictate the answer. Basically you start with what is more in demand. Bigger shortage of somethings (or skills or employment) leads to bigger demand ...
Sanjay Choudhary
1
0
Sanjay Choudhary Entrepreneur
Director
I would suggest you get the candidates database built up first . If it's a niche industry and you have the right "said" people employer will pay good for your services . If you just sell the idea of getting good candidates and try to get the client on board you may not get very far. All the best . Regards Sanjay
Rob Gropper
0
0
Rob Gropper Entrepreneur
Director at PetHero, SPC - Member at Eastside Incubator - Principal at Tuxedo Technologies Group
both. it is worth the effort to try to come up with a model to add both simultaneously. Whether that is focusing on a niche (i.e. Facebook focusing on college students one school at a time) or offering mutual incentives for both or a method to add one side of the equation in large batches (colleges in a limited geography or real estate agents in a certain geography, etc.) that can then attract complimentary groups or individuals.
Ben Sweat
1
0
Ben Sweat Entrepreneur
Director, Product at Idealab
Here's another perspective from Andrew Chen that I think is relevant: http://andrewchen.co/how-to-solve-the-cold-start-problem-for-social-products/
Andrew Lockley
0
0
Andrew Lockley Advisor
Investor and strategy consultant
Start with a very very small niche and do both. Then expand
Steve Simitzis
2
0
Steve Simitzis Advisor
Founder and CEO at Treat
You have to "make chickens". If you have a two-sided marketplace, figure out which side represents supply and which represents demand. Create just enough of the supply side (either fake it or pay people) so the demand side feels satisfied by your offering. If your offering is good, buyers will spread the word, which will lead suppliers to flock to where the buyers are going. Then the ball is rolling.
David Greenwald
0
0
David Greenwald Advisor
i2i Placement - A Human Capital Company; david@i2iplacement.com
Rule #1 in the job/hiring market (especially in today's job market/marketplace); in general, there is ALWAYS more supply than demand. If you target the right business segment and focus on aggregating the best talent (passives are best), then the companies (Demand) will come looking for the supply. Assuming you have a great/easy platform for them to connect, you'll have a constant stream of business/oppty.
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