GigCompany

B2B MARKETING PROJECT

Akshita Chaudhary (3086)

Akshata Lawoti (3070)
Jaideep Singh (3185)
Niharika Saxena (3193)
Palak Khanna (3040)
Shaleen Kispotta (3212)
Lean Canvas Model
GigCompany
 PROBLEM STATEMENT

GigCompany is a technology-driven specialized professional services outsourcing firm that helps

businesses scale faster by providing an on-demand, easily deployable gig workforce.

One of the key challenges that GigCompany is trying to solve includes:

1. Scarcity of on-demand specialized skill sets: While educated highly skilled workforce
may be available, there is a lack of skilled & semi-skilled workforce in the economy. It
makes execution of large-scale projects that require specific skill sets difficult for
businesses.
2. Difficulty in fast upscaling/downscaling of projects: Permanent workforce cannot be
upscaled or downscaled easily. That is why upscaling projects in less time to increase
output or downscaling to optimize cost is not easily doable. GigCompany solves that
problem with on-demand pre-trained gig workers ready to deploy within a few days.
3. Cost optimization for large-scale routine tasks: The cost incurred in gig-outsourced
processes is variable unlike permanent employees. GigCompany finds a common ground
between skilled young professionals and fast-scaling organizations to effectively utilize a
pay-per-result model.
4. Non-availability of trained regional workforce at scale: Often when companies want to
target tier-2 and tier-3 cities, finding regional talent skilled in communication & familiar
with local culture is not easy. GigCompany trains youngsters with potential who are adept
at regional know-hows with essential technical & soft skills. This helps businesses
penetrate new markets with a quality workforce and monitored execution.

And finally, GigCompany solves one of the major economic & societal challenges facing our
country - Unemployment.
India’s unemployment rate rose to an alarming 27.11% this year. With the already large population
& lack of industry-relevant education, pandemic has further aggravated the situation. GigCompany
does its bit by providing the talented youth of India with not only a platform to earn money but
also to grow their skillsets. All the gig workers we onboard are pre-screened and then trained to
take on various projects. Relevant skills like communication, technology, sales, project
management, etc. are enhanced as they work on projects of different MNCs. They can further
assimilate the skills they develop while working with GigCompany to get their dream offers or
start something of their own.
GigCompany aims to bridge this gap between the untapped youth potential of India and the
organizations looking to grow rapidly. All this is done while also having state-of-the-art quality
control mechanisms in place that use technology like AI/ML to execute projects at scale.
 VALUE PROPOSITION

GigCompany is an initiative towards revolutionizing the way employees and businesses are
collaborating globally to generate extraordinary results working remotely. Gig company aims to
empower businesses to scale effectively by providing an on-demand workforce. We also want to
empower professionals to be their own bosses, nurture their passion and excel at work from
anywhere and anytime.
However, with such flexibility, there is an utmost urgency of robust platforms to manage the
collaboration seamlessly helping businesses with components like smooth information flow,
transparency and security etc. It is also essential to empower people with ample opportunities of
work and upskilling to stay relevant to the industry. GigCompany is committed to create such an
ecosystem where all of these can be managed at one place.

❖ We enable businesses to scale up or down on-demand with ease. Customers can flexibly
ramp up/down the workforce deployed on projects with GigCompany.

❖ Clients can also optimize workflow for their industry. Client project requirements are
broken down into a quantum of gigs & we map workflow to ensure the best solution. User
can customize the approach, workflows and dashboards on the basis data driven insights

❖ Businesses can deploy trained talent quickly with no hassle of tedious recruitment.
We provide smart recruitment modules which help decision makers to curate the best talent
for their teams. Moreover, the gig workers are trained and 100% certified to excel the
requirements.

❖ Clients get access to high quality, trained talent pool at their disposal. Companies get
to leverage gig executives extensively trained on voice modulation, communication pitch,
and customer behavior as per industry standard

❖ Result Oriented Approach with variable cost structure. We as a company measure the
efficiency of the program and our clients pay only for the outcomes achieved. We use real
time progress trackers to ensure that the clients only pay only for the successful outcomes.

❖ End To End Management to Achieve Your Business Goals. GigCompany workforce is

managed end-to-end with smart recruitment, training, planning & progress tracking
modules by us. GigCompany ensures 100% compliance, security and quality pitch for
enterprises.
 INDUSTRY ANALYSIS

Overview
GigCompany is a business outsourcing firm that uses a gig labor marketplace to deliver on-
demand freelance work fulfilment. It is a service that provides clients with a skilled workforce for
a certain length of time. Traditional company models have been altered by the gig economy.
According to research, by 2027, the globe will have 86.5 million gig workers (freelancers)
operating flexibly in terms of time and place. Many fast-growing businesses are benefiting from
this alternative workforce today, saving time and money while changing the relationship between
the "employer" and the "employee."
These are moving away from traditional employment models in favor of recruiting on a remote
and project-by-project basis. Remote workers might account for roughly 80% of the global
workforce by 2030, according to estimates.

Indian Market Trend

According to a study from the Centre for Economic Data and Analysis (CEDA) based on the
International Labor Organization's ILOSTAT database, India's unemployment rate climbed
dramatically to 7.11 percent in 2020 from 5.27 percent in 2019.
To address the country's increasing unemployment rate, Gig Company has established an
ecosystem in which businesses and the white-collar gig workers collaborate to achieve outstanding
business goals. Aspiring job seekers from all around the world may register on the company's
platform, allowing firms to grow as needed. This allows Gig Company to make an impact by
providing relevant learning and growth opportunities to job seekers.

Global Trends
Surprisingly, nearly one-fifth of all businesses with 1,000 or more employees employ at least 30
percent of remote workers. In the previous five years, 50% of all businesses have seen a
significant increase in their freelancing labor.
Global companies are increasingly delegating tasks to Giggers in order to save time, money, and
other external resources. As it becomes easier to hire freelancers and company policies become
more aligned with processes like remote working, this number is expected to rise steadily.

Enterprise Will Scale Faster with Gig Company

By eliminating or decreasing overheads, Gig Company will provide a push for major businesses
to stay competitive and sustainable. The majority of the expenditures will be related to recruiting,
training, and managing a staff. As a result, it contributes to the filling of both supply- and demand-
side demands.
Most professionals of all levels of skill are quickly contributing to the gig economy model, as their
preference for remote and part-time employment grows.
According to studies, about 39 percent of mid-skilled professionals work for major corporations,
while just 15% work for start-ups. Furthermore, nearly 93 percent of these businesses are
confident in utilizing flexible personnel for strategic tasks and clearly defining roles and duties.
The freelancing or gig model is offering a realistic career path for competent workers in nations
where domestic possibilities are limited, thanks to the growth in the usage of remote teams.
Pakistan, Ukraine, the Philippines, India, and Bangladesh are among the top ten nations for
freelancers or gig workers' earnings growth.

Bridging The Gap

A vibrant mid-skilled gig economy in India is thought to have the potential to stimulate
industrialization, create employment opportunities, increase income, and improve people's living
standards, particularly in Tier 2–3 cities.
However, most businesses continue to struggle with a mismatch between appropriate skills and
employment positions. Today's industries demand a skilled workforce, yet most job seekers are
unable to find the appropriate fit. As a result, the link between the mid-skilled labor and the
employment ecosystems must be reinforced.
GigCompany addresses this gap by using a remote working paradigm to link skilled gig workers
with prominent businesses. It prepares competent individuals to pursue their hobbies and flourish
in the field of telecommunications without regard for time or distance. Furthermore, its cutting-
edge technology enables businesses to grow more quickly while conserving resources and
expenses.
 COMPETITOR LANDSCAPE

Company Name Tags Revenue

Awing (Bengaluru, India)

● Technology $1.3M
● Cloud Platform (Paas)
● Mobile app
● Market research
● Outsourcing

Futwork (Mumbai, India)

● Technology -
● Application Software
● HRTech
● Outsourcing
● Platform
● Workflow Management

SquadIQ (Noida, India)

● Technology $7.1M
● HRTech
● Platform
● Outsourcing
● Recruiting Marketplace

Upwork (Redwood City, California)

● Technology $373.6M
● Marketplace
● Freelance Marketplace
● Recruiting Marketplace
● Platform
● Mobile App

Freelancer (Sydney, Australia)

● Human Resource and $58M
Recruiting
● Technology
● Freelance Marketplace
● HRTech
● Platform
● Recruiting
 CUSTOMER SEGMENT - B2B BUSINESS TARGETS

The company at the moment focuses on the needs of large-scale business and small-scale
businesses. The services provided by the company are mainly information technology, customer
support services, finance and accounting services, marketing services, business handling services
and general management services as well.

Small businesses, entrepreneurial business, Medium Scale Business and Large-scale businesses
along with professional service firms and Single owner entrepreneurships are ideal targets for the
company.

1. Resources in a small or entrepreneurial business are frequently limited to basic business

operations such as production, administration, finance, and distribution. Professional
development, training, mentoring, and planning are often overlooked or neglected. As
economic pressures mount and competition heats up, these businesses are constantly on the
lookout for new and innovative methods to boost their profits.

2. The owner of a small or entrepreneurial firm is often an accountable technician, which means
he or she has everything riding on the success or failure of their business, and that their area
of expertise is in the business they are “in.” Frequently, a technician will be drawn to the
“work” of the company and overlook the company's core health, which includes nurturing
both themselves and their customer base.

3. Large scale businesses or firms are firms with 100 or more employees. This group is an ideal
target to cover all the services provided by the company as larger firms have more needs of
services to comparatively smaller businesses.

4. Small businesses are usually the ones that contain 100 or fewer employees. such businesses
are the ones that have just started functioning as business and therefore need more assistance
on established systems that need to be followed in the organization. Our company can be the
one to help them out in this phase of transition and help establish the foundation on various
 SERVICE SCAPE
Our services cape is divided in two phases:

1. Client interaction and Gig project management:

Our main service is to provide outsourcing to businesses in order to meet their needs. We have a
platform called 'Dodo' where the process of client onboarding is done through forms that the clients
need to fill out in order to outline their requirements. The marketing team then contacts the lead
and qualifies it, after which the sales team approves the client requisition and they are on boarded.
Following the completion of this procedure, each client receives a personalized dashboard on our
platform where they can post their requirements (time, budget, and number of gig workers needed)
in the form of a gig project. Then, our company's operations managers gauge these requirements
and break them down into multiple gigs that are eventually provided to giggers. For instance, if a
client requires 20,000 sellers from us, we divide the work into smaller multiple gigs by allotting
500 sales per gigger to complete the work.

2. Gig worker onboarding and management:

We also have a GigCompany app where semi-skilled workers, such as college students and part-
time workers can register by uploading their educational credentials and personal information.
Following registration, these individuals are subjected to an assessment round in which our gigger
onboarding team asks basic quant and English questions to them in order to test their
communication abilities. In the final phase, each participant must record a video introducing
themselves, which is then reviewed by an AI before they get onboarded. Our team is also
responsible for providing sufficient training to these workers as they are mostly semi-skilled after
which they become eligible to apply for various job profiles through our app. Following the
deployment of the workforce, one operations manager is designated to each project to oversee its
completion.
 COST STRUCTURE

The cost incurred by us would be basically divided into 3 categories:

1. Project Acquisition Cost (Sales Cost)

2. Project Delivery Cost

3. Resource Hiring Cost

1. Project Acquisition Cost:

Here, we might incur cost in acquiring projects from other organizations. For this, we might need
a dedicated sales team. We will have to pitch in our service, give them our price quote and even
negotiate price with them. For this, there will be some cost required like remuneration to the sales
team, CRM software, advertisements etc.

2.Project Delivery Cost:

Here we would be incurring costs on the delivery of the project. The way we connect the project
owners in the organization with our project team will depict the cost. There might be a cost incurred
in workforce management software. Administration expenses of the organization. All other
services will be directly billed to the clients.

3.Resource Hiring Cost:

Here we would be incurring cost in hiring the resources. We would have an HR team. We will be
having advertisements run for internship opportunities to students. We might take different
assessments for them. There would be charges in getting agreement with the resources as well.
Our Sample Price Quote:

Particular Cost (in Rs.)

Resource fee (per hour per person)
IT 800
Accounting 750
Sales 950
Customer Support 500
General 500
Workforce Management Software Used (per month per account) 1000
Onboarding fee (one time) 5000
Account Maintenance (monthly) 750
Monthly Minimum per project 10000
 Revenue Stream:
Our business model will be basically commission based. While charging the clients for the services
by the resources, we would be charging our 20% commission from resources. We will be collecting
payment from clients and paying the resources ourselves. Thus, we will be controlling the whole
cashflow and get our 20% commission at ease. We will be getting monthly payments from our
clients. The aspects of our revenue stream our as follows

1. Commission: We are going to charge a 20% commission from the resources. This 20%
will be based upon the amount that we are charging from the client. Suppose one of our
resources is being paid Rs.500 per hour. So, we will charge Rs.100 and pay the resource Rs.
400 per hour.

2. Onboarding Fee: We are also going to charge our clients an onboarding fee. This will be
one time charge. The price might vary depending upon the customer. We are charging him this
fee for onboarding the client and their projects into our system.

3. Account Maintenance: We are also going to charge a monthly account maintenance charge
to our clients as well. This will be used to cover the admin and miscellaneous expenses made
by us.
Detailed Cost Structure for the next tentative year