[Acrio Co., Ltd.] [Event Report] Market selection accounts for 90% of new businesses in the human resources field
*Acrio Co., Ltd.*
Press release: September 13, 2024
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[Event Report] 90% of new businesses in the human resources field are market selection
*The shortcut to success is identifying the right market*
On August 9, 2024, Acryo Co., Ltd. (Representative Director and CEO Ueda A groundbreaking online discussion event was held, hosted by Daiki (Shinagawa-ku, Tokyo). The theme is exploring new business
opportunities in the rapidly changing labor market. Business strategy experts who have newly registered with Acryo’s service “Freelance Go” gathered together to discuss innovative ideas to tackle challenges such as the shrinking workforce and diversifying work styles.
From among the many ideas that emerged from the passionate group work sessions, we would like to introduce seven new business ideas that particularly attracted attention. These are novel approaches that meet the needs of a changing labor market and have huge market potential.
This report provides a detailed overview of each idea, its market forecast, and the challenges and prospects for realizing it. Breathing new life into the human resources industry, these ideas have the potential to fundamentally transform the way we work and companies’ human resources strategies.
What are seven innovative business models that have the potential to shape the future of the labor market? Learn more and see how experts predict the market will react.
Importance of market selection
It is no exaggeration to say that market selection accounts for 90% of success in new businesses in the human resources field. Because choosing the right market will give you the following benefits:
・Clarification of needs: By selecting the appropriate market, customer needs will become clearer.
・Understanding the competitive situation: Accurately understand the competitive situation in the market and make it easier to develop differentiation strategies
・Efficient use of resources: Limited resources can be used most effectively
Success story: Remote work support service
Remote work has rapidly become popular due to the coronavirus pandemic. Here are some examples of companies that have capitalized on this change and achieved success.
X Co., Ltd. has launched a support service for creating a remote work environment. We provide comprehensive services such as digitalization of office environments, security measures, and support for introducing communication tools.
Key points for market selection:
・Select a rapidly expanding market
・Providing services directly connected to corporate issues
・Specialize in fields with little competition
As a result, we achieved sales of 10 billion yen within two years of service launch.
Learning from failure: Mismatched market selection
On the other hand, there are also cases where a company made the wrong market selection and was forced to adjust its business trajectory.
Y Co., Ltd. has developed a new graduate recruitment support system that utilizes AI. However, many of our major customers, large companies, continued to use their existing recruitment systems, so we were unable to achieve the desired results.
Factors of failure:
・Mismatch between customer needs and value provided
– Misunderstanding the cost of switching from the existing system ・Misjudgment of market maturity
The secret to market selection
So how do you choose the right market? The following points are important: a. Understand market trends
・Demographic changes
・Evolution of technology
・Changes in social systems
b. Digging deeper into customer pain points
・Implementation of questionnaires and interviews
・Analysis of voices on SNS
・Check reviews of competing services
c. Match with your company’s strengths
・Possibility to utilize proprietary technology and know-how
・Synergy with existing customers
・Suitability of internal resources
Acryo’s efforts
At Acryo, we support the launch of new businesses in the human resources field. Our approach is truly based on the idea that “market selection is 90%”.
Specifically, we provide support in the following steps.
Step 1: Market research and analysis Conduct thorough market research to identify areas with high growth potential.
Step 2: Digging deeper into customer needs We clarify the true needs through interviews with potential customers.
Step 3: Competitive analysis Analyze existing players and find points of differentiation.
Step 4: Formulation of a business plan We carefully consider market size, growth rate, profit model, etc., and formulate a business plan with high feasibility.
New market potential
In the human resources field, we will introduce some markets that will attract attention in the future.
・Gig worker support service
・Reskilling platform
・Diversity promotion consulting
・Mental health care services
These markets are in line with society’s needs and are expected to grow significantly.
Summary: Market selection is the key to success
I have seen from various angles the fact that market selection accounts for 90% of new businesses in the human resources field. Choosing the right market will dramatically increase your chances of success.
However, market selection is not easy. That’s why professional support is so important. Acrio supports the success of your new business based on our rich experience and deep insight.
If you are thinking of starting a new business in the human resources field or are having trouble selecting a market, please contact Acryo. Walk with us on the path to success.
New business in the human resources field is “90% market selection.” Understanding its importance and taking the right approach will lead to great success.
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