My startup idea targets a rather specific target market:
- Small/medium businesses in the UK* that are recruiting directly (i.e. without the use of a recruitment agency) that wish to simplify the process of sorting through resumes, etc (it is essentially a type of applicant tracking system).
*I will serve the worldwide market but initially at least wish to concentrate on the UK.
My research is ongoing, but I would estimate that there are probably around 2000 - 3000 such companies recruiting at any one time.
Is this simply too small a target market? i.e. I'd probably need around 10% of it to use my service before I even made a 'reasonable living' from the startup (i.e. enough to give up my day job and look to build it further).
I'm wondering whether I should drop the idea in favour of something with a far broader appeal.