Talentsbay serves as a platform connecting hiring companies, headhunters, referrers and job candidates. Hiring companies and headhunters advertise for free job opportunities on Talentsbay but offer fixed or negotiable fees based entirely on free market forces to third parties for selected referrals of relevant candidates. The third-parties are partners of Talentsbay and may choose to be serious full-time entrepreneurs by becoming business licensees of Talentsbay or be part-time commission earners by registering for free as affiliates.
Talentsbay is an attractive and compelling business opportunity because it serves to fill a gap in recruitment solutions currently available in the market. At present, on the one end, there are headhunters and recruitment companies offering targeted executive search services, which generally produce good and relevant candidates but are expensive; on the other end, there are job websites which are much cheaper to use but which tend to yield poor outcome in the form of attracting many irrelevant candidates. Talentsbay serves to eliminate the problems and offers the benefits in both channels; i.e., it offers relevant and good candidates at reasonably low fees as determined by a free market, making the presently economically-inefficient talent recruitment industry an economically efficient one.
1. Hiring companies, which will buy prepaid credits to pay to third-party partners of Talentsbay who have referred relevant candidates to the companies.
2. Headhunters and entrepreneurs wishing to start a headhunting business, who will buy area or basic licenses to be part of the Talentsbay network, and prepaid credits as a means of paying others in the network.
The investment of RM1.5 million is sought to cover primarily Talentsbay’s website development (about RM200,000), other start-up expenses and operating capital of the company (Start-up Expenses – Talentsbay), targeted to begin in June 2012.
Talentsbay is projected to make an operating profit by the 4th month of operation, based on a Sales Projection plan (Talentsbay – Sales Projection) and Profit and Loss Projection (12-Month Profit & Loss Projection – Talentsbay) as attached.
Talentsbay, being a web-based business, is not limited by geographic constraints and can be duplicated worldwide. Partners can be recruited anywhere in the world just as they are in Malaysia. The first countries targeted for expansion after Malaysia will be primarily English-speaking nations such as Singapore (2012), The Philippines (2013), India (2013), Australia and New Zealand (2013), United States of America and Canada (2014), United Kingdom and English-speaking Continental Europe (2014).
A Chinese version of the site will be developed from the year 2013 with a view to expanding the business to the Greater China region. The site will also be translated to more regional languages such as Bahasa Indonesia, Thai and Vietnamese from the year 2014 for the purpose of entering these markets.
The exit plan for the investor is an option to sell back his or her equity, in part or its entirety, to the founders and management of Talentsbay at a mutually agreed price. The management of Talentsbay plans to list the company by the 7th year of operation. The investor may, therefore, also choose to harvest his or her investment then.
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