RemoteCo

Remoteco is a remote job board where employers (small to medium sized businesses, entrepreneurs, solopreneurs, design/marketing/seo agencies, etc.)

founder @ RemoteCo

Published on Feb 10, 2021

We modeled our business on a famous and similar platform from the Philippines where employers, mostly from the US, Canada and the UK can hire full and part-time remote workers from the Philippines.

We do have some benefits over other famous outsourcing destinations such as the Philippines and India. In Latin America the majority of the countries work during the same time zone as the United States. The other benefit that we have over our main competitor from the Philippines is that we have a much broader market because since Covid 19 also Latin American companies have started to employ remotely, something that they weren’t doing before.

By being present in all Latin America we are increasing our targeted market considerably. In addition our marketplace offers candidates that are both fluent in English and Spanish. So we can target Spanish speaking countries who are now seeking remote workers. Latin American population exceed 800 million habitants so that’s a huge market that will grown more and more, additionally to the countries that have been outsourcing for long a time (U.S., Canada, UK).

Whereas you may think of our site as just another job board where people post one job and remote workers apply, our website is different and offers many more features than those simple job boards. 

Our site also works differently in that, employers pay a monthly fee to access our network of remote workers.

We offer 3 different monthly subscriptions.

A free plan, and 2 paid plans. The Professional and the Premium plan. Employers can create a free account where they can bookmark candidates and post 1 job. They will not be able to contact workers, unless they upgrade their subscription. The Professional plan allows employers to post up to 3 jobs per month and contact up to 50 workers per month. Our premium plan allows employers to post up to 10 jobs per month and contact up to 500 workers. Employers can send unlimited messages but a credit is deducted only after the worker replies.

We went with a monthly recurring subscription because firstly we based this model on our main competitor and also because a % of the employers (mostly recruiters) retain the subscription for more than 1 month. Design Pickle which is a company that posted with us and that continuisly hiring already asked if we can offer them a yearly subscription.

The cofounder and I both have put in an excess of 5.000 man hours into the project,. We have been full time into this for more than 2.5 years. We haven’t taken any salaries along the way.

We have added about 6.000 remote workers (we officially opened the doors to workers registration in August 2020). Being a 2 sided marketplace we had to build our supply first (remote workers) and then focus on employers (we have launched to employers just 3 months ago, in October 2020 and between there was December which is a month where nobody hires). Over these last 3 months since launching we've had approximately 100 job posted and about 20% of them were paid. 

We haven't done any advertising (we have just spent $700 on Adwords, spent on remote workers aquisition, we never spent a dime advertising to employers) and we haven't done any SEO at all. The users we have brought have come exclusively from cold emails and social media.

We have just launched to employers 2 months ago (not counting December) and we do have some sales of about $1.500 that have come exclusively from cold emails and some social media, our only 2 main strategies, we were able to afford. Unfortunately we have done the mistake of allocating all of our capital into development and nothing into ads or SEO which should have been the opposite.

Although we successfully brought in a number of high-profile companies that signed up and posted jobs such as Design Pickle (a design company rated Inc.5000 in 2019), WPMU DEV and Mailshake.

We also run our affiliate program and we currently have 190 affiliates of which only 10 are active bringing about 200 visits per month. Reason why the affiliate program is not working is because we have never run an affiliate program as merchants before and we never took care of our affiliates sending regular newsletters and updates. Shareasale reps told us that this was the problem and the main reason why out of 190 affiliates only about 10 are actively promoting us. 

Additionally we do have some partnerships in place with a couple different companies.

One is WebWork Time Tracker, which is a renowned time tracker software which offers a web monitoring system for employers to track their remote workers. We have included their web tracker through an API integration and it’s included in our Premium plan.

There are some other compliance companies we spoken with and have handshake deals with Shield Geo and Deel which are companies who take care of international employment regulations, taxes, payroll, benefits etc. and they cover all Latin American countries. Deel is a billion $ company and we have affiliates deals with them.

We strongly believe our startup will be a success, the main roadblock being capital.