Details of my side business and its evolution to date

Here, I will explain what I am doing and what I have done.

My side business timeline

FY2021: 0 to 1 phase

Overview

This was a foundational period and a very difficult time. I kept cycling through finding and completing projects on crowdsourcing platforms, building a track record, and then winning further projects.

What went well

• Setting aside the amount, monetization was easy.

• I was able to make contact with clients (companies).
  Through communication with clients, I discovered issues beyond the tasks I was contracted for, and by proposing services to address those issues, it developed into new business.

Note: Please be aware that transitioning projects received via crowdsourcing to direct transactions without going through the crowdsourcing platform is a violation of their terms of service.

Challenges I felt

• With writing, the maximum rate is about 2 yen per character, and with the crowdsourcing platform taking a 20% commission, it is difficult to earn much.

FY2022-2023: 1 to 10 phase

Overview

I had a breakthrough thanks to the client connections I gained during my foundational period and a business model where I provide my labor to address their issues.

RPO stands for Recruitment Process Outsourcing, a model where operational tasks such as communicating with mid-career candidates, scheduling interviews, and updating job postings are outsourced. I started this service by leveraging my recruitment knowledge from my previous job at Recruit.

What went well

• A field where I could utilize my own experience.

• Revenue stabilized because contracts were based on man-hours and time conversion.

• Connections were formed with a total of about 10-20 companies.
  Although some companies terminated contracts in the short term, they became important assets.

Challenges I Felt

• Hard work
  I couldn't maintain service levels without working during the day on weekdays, at night on weekdays, and on weekends.

• High competition, risk of being replaced
  Price competition and underselling. There was no clear differentiator.

FY2024-Present: 10-100 Phase

Overview

I gained experience in downstream recruitment process operations through RPO. Also, as my connections with clients increased and I earned the trust of the companies I provide services to, I proposed participating as a consultant in the upstream phases of the recruitment process (recruitment planning, branding, strategy formulation). I was able to acquire projects at high unit prices, leading to a breakthrough. This brings us to the present.

What went well

• A field where I can utilize my own experience

• Revenue has further stabilized because contracts are based on man-hours and time conversion

• Reduced churn risk by reaching and building relationships with management

Challenges I am feeling

• The limit of sales is near
  There is still room for man-hours and unit price negotiations, but eventually, once my own man-hours are filled, that will be the maximum. To increase sales further, a business model that is not labor-intensive is necessary.

If you're willing to support me, please do!
Follows, comments, likes,especially tips, and shares would be appreciated!! I also plan to write articles detailing each phase.