You would be surprised to know that IIM graduates also need a job portal to get jobs, right? Yes, it is. For all those, who are not in IIMs, somehow feel that graduates from these institutes don’t need a job portal to surf, to forward resumes, apply for jobs, etc. But getting a job, of choice, is always a dream and a competitive job at hand.
Tarun ventured to create a unique portal that caters to the need of IIM graduates through iimjobs.com. The portal allows to upload resumes, list jobs of various segments and receive SMS alerts.
As far as it seems, the concept seems to be unique, targeted and focused on a particular group. No doubt, there is tremendous scope of starting such ventures for other areas, like IITs, Medical institutions, Law graduates, etc. The potential is there. Entrepreneurs need to chalk out a strategy with a little bit of research and come up with a unique job portal like Tarun did.
We had an email interview with Tarun regarding iimjobs.com and his entrepreneurial instinct.
Q1. Tell us something about iimjobs.com. How you thought of starting it?
iimjobs.com is an exclusive job board for MBAs from premier business schools in India.
I realized that bigger, more established job portals didn’t cater to the needs of MBAs from premier business schools in India. There were other unstructured channels like Alumni groups, mailing lists, networks, etc through which job seekers came to know of open positions. I started iimjobs.com in early 2008 as a hobby project to fill this need. I started by spending an few hours every week in putting up job postings for everyone to view and apply.
Q2. It sounds strange to talk about opening a job portal for MBA graduates given that they are never short of it. How has been the response till now?
We’ve had tremendous response so far. Online recruitment is a very competitive space, dominated by big players with huge marketing/advertising spends. We’ve been able to carve out a niche and create a brand (in our segment), without spending any money on marketing/advertising. I would go on to say that we are the largest job board in our segment – MBA graduates from premier business schools.
Q3. Who are your customers or targeted audience? Is there a market size that you are targeting? Do you collaborate with corporate houses or companies to advertise on your website?
MBAs from premier business schools and Recruiters hiring such jobseekers are our audience/customers. Some of the biggest Banks, Consulting firms, FMCG/Consumer goods and IT companies post jobs on iimjobs.com
Q4. What is the source of revenue that you are seeking?
Revenue comes from premium services and Advertising on the site.
Q5. Do you feel there is space for competition in it?
Online recruitment is a highly competitive market. Its dominated by large players with deep pockets, some of them large media companies. I am sure we will see more players enter the market in next few months.
Q6. What is the scope of expansion and what is your vision about it?
I think the market will get fragmented in next few years and create opportunities for entrepreneurs to build sustainable businesses around niche job boards focussed on industries/skill-sets being overlooked by bigger job portals.
We plan to launch multiple other niche job boards going forward. Recently, We launched HRyogi.com – an exclusive job board for HR professionals in India.
Q7. How you liked the journey till now as an entrepreneur, being able to start an online concept that appears unique?
Its been a great learning experience for me. I started the site as a part-time project which has grown significantly in last couple of years. Its been an exciting journey for me.
Q8. Any advice for future entrepreneurs from your personal and professional experience?
Focus on your customers and everything else will fall into place. Don’t spend too much time chasing external capital. Your intellectual capital is far more valuable.
