Background
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This mock startup project was developed between 2022.08 - 2023.01 for five month as part of Social Venture initiative funded by Yonsei Institute of Higher Education (iHei)
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Our project's innovative solutions and unwavering commitment to addressing pressing social issues culminated in our recognition as Finalists in the 2023 Yonsei Social Venture IR Pitch Competition, where we were selected by a panel of esteemed Social Venture Capitalist judges.
Roles and Responsibilities
I am the founder of this startup project and oversaw all facets of product management, spanning from feature conceptualization to operational oversight. I took the initiative to assemble a team of 12 talented individuals, each specializing in areas such as UX research, UX/UI design, business development, and marketing. Additionally, I assumed the role of presenting our business to venture capitalists through an Investor Relations (IR) pitch.
Problem
Problem Statement
The prevailing societal emphasis on 'prior work experience' as a key hiring criterion poses a substantial challenge within the job market. It causes underutilization of latent talents, which includes newcomers, those with career gaps, women, the elderly, and self-employed individuals. This issue leads to limited employment prospects for various segments of the workforce and causes untapped market potential
This project was initiated in response to a striking paradox within the job market:
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Emerging professionals entering the job market seek employment opportunities.
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Most jobs, even the entry-level positions, often require prior work experience.
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However, gaining prior work experience is challenging when one is seeking their first job.
In other words: Seeking employment require prior experience, yet acquiring such experience necessitates securing a job first.
Redefining User Group and Project Scope
While the project initially focused on assisting individuals in the early stages of their careers, during the research and project development phase, we identified a more significant societal concern related to unemployment among latent talent. This issue has a broader demographic impact, affecting individuals who are qualified for employment but face barriers such as age, employment gaps, and minority status, particularly within the context of Korean society.
In numerical terms, the "economically inactive population willing and able to work" amounted to 3.5 million people (according to Statistics Korea - KOSTAT). Furthermore, the partially employed individuals, employed but working fewer than 36 hours per week, desiring additional employment opportunities, and for whom such opportunities were feasible, totaled 1.07 million people.
Consequently, we chose to redefine our project's scope not only as a solution for "inexperienced newcomers" but also as a response to a broader societal issue: the "underutilization of latent talent" and the associated inefficiencies and societal challenges related to their inclusion in the workforce.
Product Vision
Product Opportunity / Vision
proBee, as a job platform with an inclusive ecosystem that redefines career opportunities irrespective of age, gender or prior experience, will transform the way we perceive and utilize workforce potential by creating new standards of equity and skill-based employment.
We recognized that many of our target demographic turned to service-matching platforms such as Soomgo (숨고) and Kmong (크몽) as a solution. However, these platforms encountered common challenges:
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Newcomers to the app found it challenging to attract customers due to the need for portfolios, relevant experience, and positive reviews, disadvantaging those with limited experience on the platform.
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Excessive fees were incurred during the customer connection process, with some platforms imposing high commission rates, even if connections weren't established, resulting in financial losses.
In response, our team aimed to create a job search platform that validates skills and offers a comprehensive and equitable system, departing from the traditional "experience-based" approach. This initiative seeks to enhance job opportunities for latent talent while fostering a fairer job market.
Social Impact
proBee was created as part of Social Venture initiative funded by Yonsei University’s iHei Workstation. Our primary focus centered on addressing the 8th and 9th goals of United Nations Sustainable Development Goals (SDGs), specifically fostering decent work and economic growth, as well as promoting industry, innovation, and infrastructure.
Execution
Process and Management
The project execution process comprised four primary phases:
User and Market Research
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UX Interview and Survey
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Table Research
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Market Analysis
Formulating Business Concepts and Plans
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Business Model
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Market Positioning
Prototyping
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Wireframing
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Mockups
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UI design
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Design Iterations
Usability Testing
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User Recruitment (Marketing)
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Evaluation of Test Results
As the founder and project manager, I was involved in every step of the way, putting on many hats as UX/UI designer, business developer, marketer, etc. I also led a team of 15 people in a cross-team environment, spanning Business Development, Marketing, and Designers, each involved in their respective area of expertise.
User and Market Research
User Interview
We recognized that there were two types of users that would be involved
Service Providers: latent talents who are willing and able to work
Service Users: Individuals looking to avail services from undervalued professionals at reasonable rates.
Service Provider
For this group, we conducted semi-structured in-depth interviews with individuals from various professions and fields we initially identified as potential proBee users. These involved fields such as counseling, tutors/lessons, healthcare, and beauty, etc and professions such as life coaches, sofa cleaners, nail artists, vocal coaches, music instructors, dentists, line dance instructors, and pottery craft instructors, totaling 8 different occupations.
Each of these interviews consisted of 16+ questions and lasted about 20 minutes. The questions aimed to gather valuable insights and feedback regarding their prior experiences and expectations related to service matching platforms. Example of questions that were asked included:
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What is your prior experience and impression of service matching platforms?"
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"What is your preferred method of professional verification and authentication on these platforms?"
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"How much do you believe would be a fair payment for this particular service?"
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"What methods do you think would be effective in preventing unsatisfactory results?"
Service User
Interviewing potential service users posed unique challenges. To gain insights into their preferences and needs, we employed three different methods:
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Survey: We created a Google Forms survey distributed within our university community to gain a broad understanding of their interest and potential concerns in proBee service. There were total of 10 questions within the survey, meant to identify our target age demographic, overall interest in our service, and potential price points.
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Advertisement Click-Through Rate: We posted marketing content within the campus community and analyzed the click-through rate. This was meant to show the “clickability” of our service.
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Actual Service Provision: We initiated a special event (outlined below as “first project”) where we directly offered services to customers. This initiative allowed us to collect valuable feedback from our customers.
Desk Research
Our desk research aimed to uncover the root causes of why emerging professionals and latent talent struggle to find employment. Our focus was on identifying infrastructural barriers these individuals face. It became evident that in many industries, employers prioritize experienced candidates, creating hurdles for newcomers. A survey conducted by the Korean job portal Saramin involving 230 companies revealed that 40.4% reduced hiring recent graduates in favor of experienced professionals.
In domestic companies, there is a growing trend of focusing on hiring experienced professionals while increasingly excluding recent graduates. According to a survey conducted in October 2022 by the National Federation of Employers in South Korea, which targeted 2,469 current students and upcoming graduates from four-year universities nationwide, 29.6% of respondents indicated that "finding employment as a recent college graduate this year is more challenging than the previous year." Furthermore, the primary reason cited for the difficulty in the job-seeking process was the decrease in opportunities for recent graduates due to a preference for experienced professionals in various industries.
Market Analysis
We have defined our market as the "Prospective Talent Market," which includes emerging professionals with limited experience, individuals with employment gaps, older workers, those actively seeking more work opportunities, and the self-employed.
When estimating the potential size of proBee's market within the inactive talent segment, we discovered it exceeds 280 billion KRW, more than double the value of the domestic talent market.
— calculation method —> Currently, there are approximately 2.2 million platform workers in the domestic talent market. Given the presence of around 3.5 million inactive potential talents and 1.07 million partially employed individuals, the estimated (potential) workforce in the prospective talent market totals approximately 4.6 million. Thus, the prospective talent market is estimated to be worth over 280 billion KRW.
Business Concepts and Plans
Market Positioning
Between the boundaries of digital gig economy and the traditional job landscape, proBee aimed to establish a new market sector called the “Prospective Talent Market”.
Business Model and Selling Point
Competitive Advantage
Prototyping
White boarding
Before we started prototyping our website, we started off by brainstorming our ideas through white boarding activities and creating affinity diagrams. Our primary focus was directed towards conceptualizing an array of service categories to be offered and determining the manner in which users would access these services. We conducted an in-depth analysis of our target user base, meticulously addressing their specific needs and requirements.
Of utmost significance, we exercised a heightened level of diligence owing to the unique nature of our service, which relied on non-conventional methods of verification, eschewing the conventional reliance on prior experience. Consequently, we conducted a thorough examination of potential issues and risks associated with this approach, while concurrently developing robust strategies for mitigating these concerns.
User Interface Design
Following our analysis and brainstorming activities, our team designed proBee UI with paramount attention to the details and implications. It was important that we take full consideration of what both of our target user base wants. Our approach was grounded in a deep understanding of the distinct preferences and requirements of both our target user groups. Here are the key considerations that guided our design:
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Implementation of a nuanced review system that transcends mere numerical ratings, ensuring transparency and reliability for customers.
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Inclusion of an open Q&A section, facilitating seamless communication between customers and service providers for addressing substantial inquiries.
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Clear articulation of the value proposition for customers, elucidating why proBee should be their preferred choice.
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Provision of a platform for users to propose their own projects, fostering a dynamic and user-driven environment.
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Establishment of qualifications based on business registration records and reviews of completed transactions, rather than rigidly categorizing professionals by their volume of experience.
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Creating a simple and intuitive user experience
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User Testing
New Years Snapshot Event
For our user testing, we decided to do a New Year’s snapshot event offering photography services at 50-60% lower cost than the prevailing market rates for novice photographers without reviews on competitor platforms. This project was meant to establish proBee as a respective service provider and market our service to potential users that would become long-term customers of our service.
User Recruitment
Service Provider (Latent Talent)
For this project, we collaborated with Junseo Park, an aspiring professional photographer with entrepreneurial ambitions. We believed he was a suitable person that was representative of latent talent; his limited experience in the field posed challenges in entering the talent market. Junseo Park possesses record as an award-winning film director, but with no substantial track record as a photographer. We assessed his skills based on his Instagram portfolio and considered factors such as whether he would be willing to objectively receive services and the associated risks.
Service User (Employer)
Our service was strategically marketed through various channels.
While our long-term goal was to use the proBee platform as the main source of service provider, we recognized the short-term needs to adopt strategies to attract initial users.
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Platform Presentation:
We showcased the project prominently on our platform, as seen in the screenshots below:
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Social Media Marketing:
To gain a broader audience, we employed marketing strategies on various social platforms, including our university's community website and Instagram:
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Campus Presence:
To further expand our reach, we distributed posters across our university campus, creating physical visibility for the project.
These multi-faceted marketing efforts were designed to attract and engage potential service users effectively.
Project Goals and Revenue Estimations
Through this project, we aimed to gain insights into the demand for proBee's services, gather feedback from customers like Junseo Park regarding satisfaction and willingness to reuse services, and obtain valuable data for future proBee business operations.
Taking into account Junseo Park's areas of interest and proBee's vision, we conducted consultations and planned the "Junseo Cookie" project. Our aim is to provide operational and marketing solutions, targeting individuals aged 20-30, with a goal of engaging a minimum of 100 participants and generating approximately 3.5 million KRW in revenue. This initiative assists Junseo Park in determining the direction for his entrepreneurial venture and entry into the talent market.
Evaluation
Results and Outcome
proBee was selected as one of the 7 finalist out of 20 teams selected for semi-final in Yonsei Social Venture IR competition.
Challenges
Our project was developed with a strong emphasis on social impact objectives. While it operated as a business, its core focus remained on prioritizing social values over financial profits. It was imperative that our initiative delivered tangible benefits to all stakeholders involved, and we placed utmost importance on transparency regarding the beneficiaries of our product.
For this reason, we encountered significant challenges in crafting an effective business model, a challenge we found to be common amongst social ventures with a strong commitment to creative social values. This experience underscored the critical notion that sustainability should not be viewed as an option but rather as a fundamental standard for all ventures. It is essential for our society to work towards normalizing sustainability as a core principle, rather than relegating it to a special concern that receives sporadic attention. Without this normalization, it becomes exceedingly difficult for the positive effects of such initiatives to reach everyone and for the desired magnitude of change to be realized.
This newfound awareness of the importance of sustainability and its integration into businesses inspired my next project — an e-commerce platform designed to standardize sustainable consumerism and promote the normalization of social impact ventures.
Future Considerations
Development of proBee shed light to several important considerations should be taken into account for our future projects:
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Extending Support to Vulnerable Populations: With a strong commitment to assisting marginalized groups, we recognize the need to strategize ways to broaden our services to provide enhanced support to these communities.
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Enhancing Collaboration with Social Ventures: We seek to engage in collaborative efforts with fellow social venture organizations, encouraging their active involvement in the proBee initiative and nurturing the growth of the latent talent ecosystem.
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Fostering a Latent Talent Community: For our long-term goal, we seek to establish a community where latent talents can connect, exchange information and collaborate with each other as well as various social enterprises. As we onboard a substantial user base, we aspire to implement an automated system designed to connect users, promote shared interests, facilitate relationship-building, and promote continued platform usage.
While addressing the problems of the labor market is a complex and challenging endeavor, yet one of paramount importance. Rather than shying away from these intricacies, we are steadfast in our commitment to confront these challenges head-on, actively seeking innovative solutions that may not have been previously considered.
Acknowledgements
I am deeply grateful for the invaluable contributions of the group of individuals who brought outstanding skills and diverse experiences to make this project possible.
My team boasted teammates with backgrounds ranging from digital marketing at Mirae Asset Securities, content creation at Naver, support roles at Lotte Home Shopping, leadership in B2C modules at consulting academia SICA, etc.
In a project as multifaceted as ours, the nature of our work required many to don multiple hats, transcending traditional team boundaries. This collaborative spirit was the cornerstone of our success, allowing us to harness our diverse talents and experiences to drive business development and effectively address complex societal issues. I extend my heartfelt appreciation to each member for their unwavering dedication and exceptional teamwork, which made our project's success possible.
