Next Step In Growth
Last year I started a resume writing and interview prep company in a specific industry as a side hustle. I have spent $0 in advertising and have grown to $25,000 a month. I have one associate who is wonderful and does about 10-15 hours a week. The reason for our success is our numbers; in an industry where applicants get offers about 50% of the time our candidates do so at a rate of 95+% and the ones that don’t get it likely miss out technically and often message us a couple weeks later with a new offer in hand.
For the past 20 years I have tried countless side hustles and having this one be successful is a dream come true. But I don’t know what my next step should be. I could probably grow it to $1,000,000 revenue, with a $400,000 coming to me, but it is kind of limited beyond that.
I see for future expansion there are 3 options:
- Vertical
Integration. Offering services, such as recruiting, in this sector. The problem I see with this is, our clients are not in leadership roles where they can influence hiring, so we are not building relationships in this area.
2. Horizontal Integration. We have taken some people outside our industry on and have had similar success, growing into a diverse interview prep company is an option.
3. Outplacement. A completely different sales model, but very scalable, larger deal and revenue options.
Any feedback from people who have done this journey is much appreciated.