In an attempt to disrupt the traditional idea of a jobs board, Rasheen Carbin and his partners developed nspHire, a smartphone application that he says is "the Tinder for jobs." nspHire allows employers and job seekers to connect in real time to see if the candidate really is a good fit for the open position. In this installment of Behind the Business Plan, Carbin spoke with Business News Daily about where the company has been and where he sees it heading.
Business News Daily: In a nutshell, what service does your business provide?
Rasheen Carbin: nspHire [pronounced "inspire"] is a job search app that directly connects employers and job seekers. It does this by using a mutual match and in-app messaging system that allows the two parties to communicate in real time.
BND: How long have you been in business?
Carbin: We've been in business nearly two years.
BND: Did you start with a formal business plan? If not, how did you lay the groundwork for your business?
Carbin: We didn't start with a formal business plan, as nspHire was a pivot from a previous company we started. Our first startup taught us many lessons about the recruiting and staffing space that we applied to nspHire.
BND: How did you finance your endeavors, both initially and as your business grew?
Carbin: We've financed the business through savings and by reinvesting all revenue back into the business.
BND: How much did you invest personally?
Carbin: We've spent roughly $50,000 developing the app.
BND: Is your business today what you originally envisioned at the outset, or has it changed significantly over time?
Carbin: The app is close to what we originally envisioned. Some things just weren't technologically possible. Some things we couldn't afford. Each version of the app gets us closer to where we want it to be.
BND: What are some lessons you've learned? Is there anything you would have done differently?
Carbin: We would have spent more time scoping all the features of the app. It's best to leave nothing to chance. We outsourced the development, and we could've saved some time if we had been more explicit about what we wanted and didn't want.
BND: What were the most important factors that contributed to your success?
Carbin: The diversity of skills and perspectives of our team, along with our knowledge of recruiting and staffing, have been the most important factors in our success.
BND: What are the next steps you want to take as a business owner? How do you see yourself achieving those goals?
Carbin: We would like to raise outside funding so that we can increase our marketing efforts.
BND: What is your best advice to someone with a great business idea who is ready to give it a shot?
Carbin: Don't be afraid to make mistakes. It's inevitable. Learn from them, and keep improving the business.