Your Education Job Ltd: Adrian McDonald and Daniella Falletta
The co-founder of Your Education Job on delayed launches and putting his home life on hold
Company name: Your Education Job Ltd Website:www.youreducationjob.com Founders: Adrian McDonald & Daniella Falletta Age: 25 & 26 Based: London Staff Numbers: 4 Date started: July 09 (launched website March 2010)
Tell us what your business does: Youreducationjob.com is a website for the education sector bringing all the best bits from all the leading educational job boards to one place. A leading resource for teachers, teaching support staff, non teaching staff within schools, academic establishments YourEducationJob.com is also tailored to meet the needs of educational recruiters across the UK.
Where did the idea for your business come from? I used to work for a technical ship management company and we were always low on sea men (ship staff). I had the idea of an online job board to recruit staff and told Daniella about it. There was one problem; I felt that my knowledge in the shipping industry was not sufficient as I was relatively new to the industry, but Daniella had been working in education recruitment for a while so we decided to get together and roll out the idea within the education sector
Have you always wanted to run your own business? Always! It’s been my ultimate goal to be my own boss. What appealed to me the most was the freedom – to make decisions and introduce ideas and also to take responsibility for them, whether they fail or succeed.
What planning did you do before you started up? We had to do lots of presentations to get our initial investment, which included having to do a full business plan, financial projections, market and competitive analysis, business strategy and exit strategy. Our investor has been in business for a long time so his knowledge is extensive and very valuable. So far we haven’t had to go outside for advice just yet, only to lawyers for things like privacy policies and supplier contracts.
How did you raise the money to start? We raised the money through a private investor. It took about 7-8 weeks of meetings and presentations before we got the go ahead so it wasn’t easy. We had a few other meetings with other investors including interest from James Caan’s investment company, Hamilton Bradshaw.
How have you promoted your business? In our business relationships are important, so before we launched we decided to build the grounds of these by producing free promotional videos for our potential clients to be used on our website and theirs. We travelled round the country with a film crew to our potential clients offices and used these face to face meetings to speak to them about what we were planning to do and get their feedback on what problems their having at the moment with our competitors and what improvements they would suggest. These were the country’s biggest educational recruiters so their advice was paramount. The videos can be seen on our video page on our website.
How much do you charge? We charge based on the recruiters’ job posting needs. At the moment prices per job, per week range from £4.10 to £4.60 and we think this is competitive.
What has your growth been like? We still have 3 weeks left of our free trial period and our uptake and feedback from recruiters has been phenomenal. In fact it has exceeded what we originally projected. In the first 4 weeks we have achieved 60 clients posting almost 2000 jobs – putting us on par with the competition. We launched later than we thought we would have which boosted our initial projections of start up costs, so a new plan had to be produced to work out when we would be in profit.
What’s the impact on your home life been like? Lots of sacrifices have had to be made. Holidays have had to be cancelled and a massive pay cut from what we were both earning before had to be taken as well as long hours, working at the weekends and from home in the evenings. However we can see the light at the end of the tunnel and we know it won’t be forever.
What would you say the greatest difficulty has been in starting up?With this particular business it was getting our website perfect and bespoke for the industry. This was one of the reasons our launch was pushed back.
What would you do differently?As we were fairly new to the industry we had no idea who were the best suppliers and so have had problems in this area (another reason why our launch was pushed back). We’ve learnt that the biggest company is not necessarily the best.
What advice would you give to budding entrepreneurs?You don’t have to re-invent the wheel, jump in with two feet and be prepared to make sacrifices, have a well thought out business strategy but don’t get disheartened if it changes. Have an end goal and never loose sight of it.