Startup idea

Reference Checks as a Service

A service that structures, compiles, and organizes qualitative data from reference checks, which are currently performed frequently but often not recorded or utilized efficiently. It would operate on a 'give to get' model, incentivizing users to contribute data to access a valuable, structured database of reference insights.

Opportunity7.1

Why now

The general trend towards structuring and monetizing 'data exhaust' from common business activities. Increased demand for data-driven hiring decisions.

Market gap

Lack of a centralized, structured, and incentivized platform for compiling and accessing qualitative reference check data, leading to valuable information being lost or recreated repeatedly.

Business fit

Type
SaaS, Data Platform, HR Tech
Target
Hiring managers, recruiters, HR professionals seeking to streamline and improve their hiring process with better data.
Revenue
Subscription model for access to the database, potential for premium features like AI-driven insights.
Founder
HR tech entrepreneurs, data platform builders, legal/compliance experts, recruiting professionals.

Scores

Problem
9.0
Feasibility
7.0
Why now
6.0
Go-to-market
6.0
Confidence
8.0

Proof signals

Keyword demand

KeywordVolumeGrowth
HR tech2,400/mo-45% YoY
Recruiting74,000/mo-18% YoY
Reference checks1,900/mo-21% YoY
Data platform1,600/mo-33% YoY

US English Google Ads volume from DataForSEO; growth uses returned monthly search history.

Source episode

How To Build A Million-Dollar Media Empire | Erik Torenberg25:08
one business I want to build is reference checks as a service right we do all these reference checks and yet no one ever compiles them or organizes them

Topics

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