Boldly is a premium subscription staffing company. They “help founders and executives move their business forward by providing highly skilled remote staff they can trust to represent their business and carry out responsible tasks—all on a simple monthly subscription.” – Boldly official website.
Initial product// Boldly was founded by Sandra Lewis. The idea was born in 2009 when Sandra and her husband moved from US to the UK after working for 22+ years in a (according to Sandra) “very intense and consuming” job. Sandra wanted to have a rewarding career yet without stress, so freelancing looked like an opportunity she could try.
Sandra started helping founders and executives with HR consultancy and project management remotely, and got referrals for her excellent service. While offering HR and project management services, Sandra discovered how stressful and difficult it was for executives to hire multi skilled and reliable talent at an affordable rate. She also noticed there were well trained and professional people like her who quit their jobs for multiple reasons such as motherhood, military spouses etc. and “redefine their career on their own terms.” – Sandra, Productized Startups interview.
So Sandra set herself the task of providing a solution and that was how Boldly was born.
Traction// Boldly got it’s initial customers through referrals. They also realized early that it was directly connected to the excellence of their team, a team that clients can trust with their business. So if their clients enjoy an excellent and premium service, they (clients) would refer their services to friends and family, simple. So they focused all their energy on building a premium staffing brand and providing an excellent service to their clients.
Boldly has successfully implemented a process to discover and recruit the right talent.
“The result is that the majority of our growth has come from referrals — our clients referring their friends and colleagues.” – Sandra Lewis.
Business model// “Our business model is based on the belief that long lasting partnerships must be beneficial and rewarding for everyone involved. Our clients and team both get to choose whether or not they want to work together, and our team is highly invested in helping our clients succeed.” – Source: Boldly website.
Boldly was bootstrapped from day one and a key aspect that made that possible was a recurring revenue model. This model has helped Boldly establish itself as a $4 million/year premium subscription staffing company.
According to Boldly website, a 30 hours plan/month costs £990(+VAT)/month, a 40 hour plan/month cost £1320/month, etc. Please check the Boldly website for other plans and updates on pricing.
“In year two, I began to understand that most of our customers not only loved us, but wanted us to thrive. That gave me the confidence to start asking new clients to pay us in advance of services rendered, with a satisfaction guarantee. I braced myself for the angry backlash, but it never came: not one client challenged the request.” – Sandra Lewis, Indiehackers interview.
What is next for you?
Busy business owners and executives want to grow their businesses and are searching for professional and reliable talents that can take responsibility and represent their business.
As these businesses are moving away from physical offices to a more remote Set up. There is an opportunity and a gap to fill here by providing Talented and Affordable virtual assistants.
Like Sandra Lewis:
- Ask yourself if you have the necessary skill set to grow your business and another person’s business. Start from there and write down all your skillset(s).
- Make your research on what skills are in demand to help grow a business, if you don’t have the skill, time to go and learn them. Master the skills or partner with someone who has those skills.
- Focus on serving a particular niche , a general subscription staffing company is too broad now. To stand out, you need to specialize in an industry you have some kind of knowledge or experience in. Maybe attorneys, personal brands etc.
- Build a landing page (with page builders or WordPress) describing your services. The landing page should have a contact form, live chat and a pricing section.
- Gain traction or get clients through referrals.
- Focus on building an excellent team or providing an excellent service to clients in your chosen niche. This will help you gain more clients through referrals.
- Bootstrap your business from the start. You should aim for recurring revenue as a business model. Monthly/Annual subscription.
- Ask for feedback. Use client feedback to grow your business and guide you on what skills you should look out for when hiring talent.
- Celebrate your client’s wins (whether big or small), and create case studies on how your team has helped the client’s business grow.
- As your business scales, build a dashboard for clients to contact you, make complaints, request a new talent or make payment for the service.