PROJECT EGO
Upside Down Business Model (Project EGO)
In my last 2 notes, I have argued about the importance of “Hub & Spoke” model, wherein we must get 10/15 Indian jobsites (to begin with) to sign-up as our Webservice licensees.
If (assuming) this strategy is well thought-out, the first step is to get a million resumes.
Of course, all along we must remember that, in the internet-connected NEW ECONOMY, all strategies are at best, “tentative.” No one can be sure as to what will work and what will not work. This is because many strategies are “brand-new,” without any precedents, from which conclusions can be drawn!
Hoping to get a million resumes thru Project Manhattan is one strategy. So far the results appear encouraging but following questions remain:
When we start flooding 4/5 jobsites with hundreds of job-advt’s daily, how long before candidates realize that these are fictitious advts and stop applying?
Is it possible that these jobsites themselves may terminate the service, upon receiving complaints from jobseekers?
Or, realizing that our fictitious advts are imposing a heavy traffic burden on their servers?
Even if none of the above happens, how many job-advt’s would we need to post on how many jobsites DAILY, in order to generate ONE MILLION resumes, in 4 months?
Even if we manage to get 2000 resumes daily (average), then it would take 500 days to get a million resumes! This is nearly 1½ years!
That would not be acceptable, considering that, at latest, we would be ready to launch our Webservice commercially in 6 months.
Waiting any longer, may give away our GAME-PLAN.
So, along with Project Manhattan, we must launch another “strategic initiative” to garner these one million resumes in 4/5 months.
So that, even if Project Manhattan fizzles-out in next 2/3 months (for reasons mentioned earlier), we have something else going… something that has following characteristics:
① Low-cost solution (we are short of resources – but even if we do have resources, a low-cost solution must always remain a goal).
—of “what is in it for me?” It must also raise “curiosity.”
I believe we do have a “strategic initiative” which satisfies all the above-mentioned criteria.
For want of a better name, I would call it PROJECT EGO.
OUTLINE
We are about to complete converting 60,000 email resumes using Resumline. Email IDs/Names of candidates are known/in database.
To each of these candidates, we will send his/her “converted” resume back (with a covering letter) – see Annex (A).
The converted resume will comprise of following separate “attachments”:
We will need to figure out in advance:
→ Total KB to be transmitted per email (inclusive of covering letter).
→ Time it will take to transmit ONE message.
→ No. of such messages that can be transmitted in 24 hours (assuming our current bandwidth & leaving server on for 24 hours).
→ No. of days it will take to transmit 60,000 messages (automatically, of course – no human intervention at all, once started).
Once the initial batch of 60,000 messages gets over, the process will continue on a daily basis, for each & every email resume that arrives every day.
Flow:
Jobsite → Email resume arrives
Processed thru Resumline
Break-up into attachments A/B/C/D/E/F/G
Pick-up STANDARD covering letter (each must be addressed by NAME of person)
Pick up email ID from database
Send Message
Upon receipt of “Message” by candidate, the following will happen (– we hope!):
→ He will be delighted with the “Metamorphosis” of his resume – which Resumline has turned into a beautiful Butterfly.
→ He will edit/fill-in missing “values”/fields & return to us for updating.
(CURIOSITY factor)
→ He may show his “Butterfly” to his friends/colleagues and encourage them to email their resumes to 3P in order to get their OWN Butterflies. He is keen to compare as to where do his friends/colleagues stand (in relation to himself), on FUNCTION EXPOSURE SCORE.
(“VIRAL MKTG” factor) & (CURIOSITY factor)
→ In future, while applying for any job, he may use this “BUTTERFLY” version of his resume, to ensure that, amongst hundreds of plain resumes received by the recruiter, his Butterfly really—
“STANDS-OUT” (head & shoulder above the rest), vastly improving his chance of being shortlisted/called for interview.
(“WHAT IS IN IT FOR ME?” factor)
If our reading of human psychology/human behaviour is correct, then following should happen:
→ 60,000 candidates will show their “Butterfly” to 5 colleagues/friends each & encourage them to send their email resumes to 3P.
→ If only 2 of these 5 colleagues/friends send us their email resumes, then we get 120,000 resumes within 30 days (i.e. 4000/day).
→ If each of these 4000 jobseekers succeed in persuading just 2 colleagues, we can expect to receive (after another 30 days?) – some 8000 resumes/day!
→ This scenario can play-out again & again (much like a PYRAMID CHAIN LETTER SCHEMES – which threaten you with dire consequences if you break the chain! – except in our case, the candidate is expected to only “talk” to his colleagues and for reasons other than fear!).
So, Project Manhattan feeds (fuels) Project EGO, till it becomes self-sustaining.
Covering Letter
Dear [ ] (No Mr. or Ms. – Simply First Name)
Sometime back you sent us your unstructured email resume.
Using a datamining software developed by us, we converted this into a “structured” resume. This Artificial Intelligence software extracted skills/knowledge related keywords from your email and using these computed your
FUNCTIONAL EXPOSURE SCORE
– and even compared where you stand, (percentile) vis-a-vis your peers.
Attached find, how our knowledge-based software has managed to transform your simple resume, into a truly magnificent
BUTTERFLY
In future, whenever you apply for a job, use this “Butterfly-version” of your resume. It will ensure that you are definitely called for an interview!
If you take a few minutes to fill in the missing values in your structured database (Attachment B) and return to us, as an email, we promise to send you, when we have sufficient data, a graphical picture of where you—…stand, vis-a-vis your peers/comparable executives, in terms of:
Don’t miss this opportunity! The graphs will be emailed to you only if you furnish salary/designation data about yourself.
It will vastly simplify/speed-up your recruitment process.
A couple of observations:
While processing thru ResuMine, we have set aside as “FAILED” some 15,000/20,000 resumes. We should include these also for purpose of sending message outlined in ANNEX A.
Project EGO will help create a BRAND-AWARENESS for our webservice. When thousands of jobseekers start applying for jobs with the BUTTERFLY version of their resumes, thousands of companies will come to know about our webservice, when at the bottom of each BUTTERFLY resume, they read:
“From a plain/unstructured email, this BUTTERFLY version of resume got created using ResuMine artificial intelligence software developed by 3P CONSULTANTS (P) LTD.email: Ego@3Pjobs.com”- What is now urgently required is to create fields for:→ “Salary”→ “Designation-Levels.”(Read my earlier notes)And database structure to capture the values automatically (without human intervention), when duly edited/filled-in resume gets returned.
If we find that thousands of resumes are getting edited & returned, it will not take us too long to generate the GRAPHS of peer populations. Only when a few jobseekers (who have taken the trouble to furnish their salary/designation-level data) start getting the GRAPHS, then our CREDIBILITY will go up! When they talk to their friends/colleagues, tempo of return will pick-up.
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