SWOT

Strengths, Weaknesses, Opportunities, Threats.

Strengths:

  • This product has the potential to be the first market tool allowing users to undergo a full life cycle of education and career building.
  • Through this project, users can get certified and gain practical experience by following their “roadmap,” which adjusts as they complete thematic certifications. With the “roadmap,” applicants, freelancers, and employees will see their future goals: what to strive for, and what additional certifications to pursue to be attractive to the client market.
  • The “transparency” of the user experience and acquired skills - the system creates a “log” for each user with their certification history and completed tasks, which cannot be faked or altered. This “log” will be accessible to employers and new clients upon subscribing to a specific plan. Therefore, all participants will be more aware and responsible in forming their skills and experience for their CV on the project.
  • Any company that improves and strengthens its working relationships with employees will benefit greatly, making these relationships more motivating, advantageous, convenient, and transparent for both parties. HR or managers can clearly understand the potential employee’s experience, manage task assignment and completion, and pay for completed work.
  • One of the project’s significant strengths is its pricing strategy. Typically, the market operates on a commission basis, ranging from 5-20% of the transaction. Our project features a 1.9% commission on the transaction amount, making it attractive for both clients and performers. Another advantage is the cost of gaining knowledge and certification, which is symbolic compared to market prices for quality education.
  • Another crucial strength identified for this market is the desire for direct collaboration between clients and freelancers without bearing high matchmaking commissions, while also being protected from non-payment or unsatisfactory work. This commission percentage is especially important for professionals who do not want to pay high percentages to third parties and always seek ways to avoid it.
  • Additionally, project manager assistance and automated translation of correspondence will be vital factors, as communication is 90% of the success guarantee.
  • Another strength of the project is the external factors affecting the market, such as taxation in the USA. The USA has long been a global center of technological innovation, and the new Section 174 of the US tax code, which requires software development costs to be amortized over 5-15 years (e.g., a company pays $200k to a developer and must amortize this amount over taxes), is a good example.
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Weaknesses:

  • The high cost of developing a custom engine and marketing, which affects the project’s payback period and launch timeline.
  • The high cost of hiring professional specialists from the market to record video materials and create quality test assignments.
  • Being a new company in the market results in low brand recognition, necessitating constant efforts to build a customer base and attract experienced and reputable performers and course authors for tasks and certification tests.
  • The low level of client and user awareness is also a drawback, as there are already projects in the market for courses, certifications, online education, and freelance online work. We need to emphasize and communicate the project's differences and advantages clearly so that the audience has a distinct understanding of its features and benefits.
  • Lack of experience and knowledge in a specific subject area or finding the right experienced performer may require additional time to study the subject area or task, leading to increased timelines for the complete implementation of the project.

Opportunities:

  • Increasing demand for the project as all important and necessary processes of the career ladder, development of current employees, and transactions between clients and freelancers occur in one place.
  • A great opportunity for freelancers and clients, as well as employers, to gain a new, improved platform for cooperation and collaboration.
  • Excellent opportunity to work in various international markets with settlements in foreign currencies, such as US dollars, providing a stable position in the market for business and jobs, as well as not being dependent on economic or political fluctuations in Ukraine and the military situation and fulfilling orders in the markets of: the USA, UK, Canada, Brazil, Turkey, and Indonesia.
  • A great opportunity to establish partnerships with small, medium, and leading global companies for subcontracting their projects.
  • Gaining advanced global experience in various subjects and meeting the knowledge requirements of each freelancer and employee by undergoing certification.
  • For freelancers, clients, and employers, the task manager allows for the convenient management of all internal employee tasks and provides a single place to find the right freelancer for specific tasks without the need to have an in-house employee.

Threats:

  • The emergence of a new and interesting project in the market could provoke competitors to invest more in marketing, increasing the project's marketing expenses. This may occur when the project gains popularity, reaching around 50,000 - 1,000,000 users per month.
  • Insufficient funding could halt the process of launching, bringing the project to market, and popularizing it, thereby limiting its development.
  • The simultaneous emergence of a similar competitor with a comparable implementation could lead to increased marketing costs to popularize the project.



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