Apr 24, 2008

CEO and Co-founder of Reffster leaves

The Jobster.com idea took 2 years to unravel in the US, however seems like the referral jobsite idea in India is just too premature to take off. Ranjit Jatar who was CEO of Reffster.com has left the startup (covered on this blog earlier) and is currently being managed by the other two co-founders Arjun and Arun Yadav.

Ranjit blogs about his experiences here. Some interesting comments also.

If a new portal aims to replicate Naukri, Monster or Times–all very successful ‘vanilla’ platform models– that would not work since the space is already clutterred. If it aims to go beyond ‘vanilla’ and also value add that recruiting vendors do, then that will limit scalability with clients. Therefore a  100% Tech enabled value add led by new-age technology that matches Profiles with job descriptions to get ‘the right fit’, could be an idea that is innovative — and if another idea on the Sources of Revenue (from candidates rather than companies) is implemented, perhaps disruptive as well to the way existing portals operate.

Well, I disagree with Ranjit. Technology that attempts to match resumes with job descriptions will be open to manipulation by smart jobseekers and end up wasting a lot more time of the clients. I would be a lot more interested if jobsites can leverage the existing social networks where Indians hang out. Making apps that make sharing and applying to jobs and ride on the platforms that Orkut and Facebook provide. Wonder why nobody  has thought of that?

Jatar has some thoughts on management structures for startups also

In addition , I would urge all budding entrepreneurs who plan to partner to also spend quality time–as they would do building up their business plans — to carve out strategic and operational Roles at the outset. I would strongly advise co-founders to work out a Founders agreement during the incubation phase where future situations and how they would be tackled are thought through. Perhaps –and it would be interesting to get reader comments – it may not be a bad idea to also have a “First among equals” leadership Role assigned to one of the co founders at the outset for operational and strategic business decisions that will need to be taken after the launch( eg a casting vote in Board meetings) , though there would obviously be guardrails in place to ensure that consensus is enshrined for key strategic decisions e.g. exits, new partners, changes to Founders agreement etc.

Blogged with the Flock Browser