Japan Dev · B2B · Japan developer job board
Have companies report hires within ~5 days; refund only part in month one
What they did
In their words
$60k/m from a job board
Phil… going to ask. Well, I I love the the model you've got of the kind of legal contracts uh and if they don't tell me, there's a fee and all that sort of stuff. Um, I was just wondering a small thing about do you get paid as soon as the person joins, or is there like a 6-month grace period to see if they stay, like traditionally with recruiters, you know, you've got to stay at the company before the person gets paid, or is it just when they join?
Eric TurnerUm. There's a little bit of a delay, so they have to tell us, basically, within like 5 days or so, when they sign the contract, and then we will send a uh a an invoice to them at that point. So, that is fairly quick, but then we give them some uh a bit of a grace period with the invoice itself. It's It won't be due until like the last day of the month following the month when the person joins, so there is that delay. And then, if they join, and like with within 1 month, there's an issue, then we do We give like a partial refund, um so it's not not a not a total refund. And, yeah, some recruiters will have like a staged, kind of decreasing refund schedule that they'll do, where it's like, you know, 100% within the first month, and 50% after 3 months, whatever, that kind of thing, cuz the value like the amount of um money that they're dealing with is quite high, some of the time. So, for us, it's a bit lower, so, you know, we were like, "All right, within, you know, 30 days or so, we'll at least give part of, you know, the placement fee back." Um, so, yeah, we we do have a it's kind of simple, um, you know, rule for that.
PhilNice, that's interesting to hear. And just the last one I was going to ask about is, you know, what's the what's the future hold? What's the plans? Are you keep doing the same keep doing the same growth strategy? You want to You want to sell it? Not to me, but you know, you look to sell it? What what's what's the plan?
Get tactics like this every Monday
New tactics from the week's founder interviews, each linked to where it was said.
More from this episode
- List jobs free and charge a fee only when someone gets hiredSales converted pretty well; business at ~$60K/month
- Give job seekers a ¥3,000 gift card for reporting their hireCatches unreported hires at a 'pretty good hit rate'
- Collect applicants' name and email before sending them to the company's job page
- Add a growing monthly fee to the contract for hires companies don't reportFounder believes cheating is rare; no numbers
- Sign your own employer first, then use its name to sign othersNext two companies came relatively easily
- Post jobs free and write each company's English profile and job adsEnough to land the first few companies
- Grow the job-seeker side with SEO and an email newsletterSlow: ~12 months to first revenue; traffic grew steadily over years
- List only ~100 good companies and turn down most who ask to joinFounder credits curation for making the model work; no numbers
- Pivot to a job board after visitors kept looking for an apply buttonLed to the first paying clients
Tags: billing-terms, refund-policy