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Expanding the business model
Charlie O'Donnell
CEO, Path101.com
New York City
Site launched: March 2009
Former job: Venture capitalist, entrepreneurship professor

I'm currently an adjunct professor of entrepreneurship at my alma mater, Fordham University. Although I'm about to launch my first business, I've been in the startup world for a long time. For years I was an analyst at a New York-based venture capital firm, and the connections I made during my tenure there have really paid off.

I've always loved talking to people about their careers. In fact, I used to think my ideal job would be as a school counselor, but I didn't really want to go to school for that. Eventually, I developed an idea that could touch on both my passion for start-ups and career advising. My site, Path101.com, not only connects recruiters with job seekers, but helps people find out what job is perfect for them. By gathering data from the resumes posted, we can offer advice to help people get the direction they need to start a career they love.

I got the idea for the business in 2007 and found a tech partner. After cashing in my social capital, I was lucky to land $350,000 in angel financing in February. The site is in alpha testing right now and will officially launch later this month.

Our main business model is recruiting-based. But we recently got approached by a school that asked if we'd share our data for their own use. It never occurred to me that additional revenue streams could come from sharing our information, but that will help us to hit the ground running. In a good economy, you need to think outside the box. That's even more true in a bad economy.

NEXT: In need of expansion capital

LAST UPDATE: Mar 12 2009 | 10:51 AM ET
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