Posted by & filed under Entrepreneurship, Human Resource Management, Management.

Sean Fahey, an MBA from Florida Atlantic University, wanted to be self-employed. During his MBA he started a retail store of belt buckles, which he eventually expanded to 13 stores in the U.S. and Canada. However, his business was severely hit by recession, and in 2009, he was forced to shut down his business. While working in a job, he had a new business idea—Vidcruiter, an online job interview tool that saves time and cost for firms to hire people. While the companies liked his software, his sales were low—he found it hard to convince the human resource departments. To overcome his low sales, he decided to lower the prices of his online software and also offered his sales team equity ownership along with a monthly salary. He also offered a finder’s fee commission to his clients for referring new businesses. These changes helped to revive his new business

Questions:

  1. Do you think Fahey has a successful business model?
  2. Do you feel his business model is sustainable in the long run?
  3. What other changes can Fahey incorporate to gain competitive advantage?

 

SOURCE: Nauman Farooqi, “Online job interview overcomes tough sell” The Globe and Mail,  (Retrievable  online at  http://www.theglobeandmail.com/report-on-business/small-business/starting-out/online-job-interview-tool-overcomes-tough-sell/article2200358/)

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