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How and why I built Japan Dev

japan-dev.com

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Re: How and why I built Japan Dev

#41

Post by JoshTriplett »

Grimburger wrote: post #4

This was incredibly well-written and an enjoyable story. Congratulations on pushing through and getting traction. Something that resonated: > We had to put 5 million JPY (~$45k at the time) in our business bank account and leave it there. For... some reason. Living in Asia I've come across this bizarre government obsession with "money in the bank" when dealing with them: "You need $15k in a bank account to apply" "Ok…

That sounds like the kind of requirement that patio11 would know more of the rationale for, if rationale exists, and the workaround, if a workaround exists.

Re: How and why I built Japan Dev

#42

Post by Waterluvian »

quickthrower2 wrote: post #25
lkois wrote: post #14

Earlier quoted context omitted.

Probably to prove it's unencumbered, liquid collateral. Which makes sense if you disregard all the other ways to determine that

Yeah line of credit would do the trick though. Then once you have cleared the hoop use it to invest!

When I bought a house I had to prove the 20% down was not via debt like a line of credit. Perhaps they would require something similar.

Re: How and why I built Japan Dev

#43

Post by Aeolun »

trhoad wrote: post #6

> So we share your jobs on our site. A candidate applies. You interview them and decide to hire them. You notify us you hired them. We send you an invoice. You pay us a fee. I'm absolutely stunned that this works. > For one thing, our contract imposes a late fee for failing to notify us of a successful hire. And the fee increases every month that they don't tell us. This is a pretty good deterrent. Is it? It sounds l…

By the time you get anyone to post on your website you've already interacted enough with the people in the company to make them want to pay you.

Presumably they charge much less (10% yearly salary) than a normal recruiter would.

Re: How and why I built Japan Dev

#45

Post by jiggywiggy »

trhoad wrote: post #6

> So we share your jobs on our site. A candidate applies. You interview them and decide to hire them. You notify us you hired them. We send you an invoice. You pay us a fee. I'm absolutely stunned that this works. > For one thing, our contract imposes a late fee for failing to notify us of a successful hire. And the fee increases every month that they don't tell us. This is a pretty good deterrent. Is it? It sounds l…

It works if you have an ongoing relationship with your clients

Re: How and why I built Japan Dev

#46

Post by bl0rg »

gjulianm wrote: post #7
Grimburger wrote: post #4

This was incredibly well-written and an enjoyable story. Congratulations on pushing through and getting traction. Something that resonated: > We had to put 5 million JPY (~$45k at the time) in our business bank account and leave it there. For... some reason. Living in Asia I've come across this bizarre government obsession with "money in the bank" when dealing with them: "You need $15k in a bank account to apply" "Ok…

That's weird. I've heard of requirements that business need to have a certain amount in cash reserves, just to guarantee that they can pay severance packages and other guarantees, to stop the owners from declaring bankruptcy too late. But asking for that and then letting them remove it from the account is just weird.

Maybe it's a 6 month long test to prove that you can handle your finances without that bit of extra money? That said it sounds like a really stupid test.

Re: How and why I built Japan Dev

#47

Post by rtpg »

trhoad wrote: post #6

> So we share your jobs on our site. A candidate applies. You interview them and decide to hire them. You notify us you hired them. We send you an invoice. You pay us a fee. I'm absolutely stunned that this works. > For one thing, our contract imposes a late fee for failing to notify us of a successful hire. And the fee increases every month that they don't tell us. This is a pretty good deterrent. Is it? It sounds l…

I think a huge reason this works is that this site is essentially focused on a small niche: (mostly) Tokyo-based, (mostly) English-heavy IT companies.

Everyone knows each other, it’s a high trust environment anyways, and it’s hard to recruit in the first place!

And like the article says, recruiting in Tokyo is kind of insanely expensive, mainly cuz it’s scaled to salary and a big chunk.

But I think the fact that this is… I mean it’s a lifestyle business? I don’t believe this is gunning for Indeed… it makes it easier

Re: How and why I built Japan Dev

#48

Post by Varqu »

lozenge wrote: post #37
trhoad wrote: post #6

> So we share your jobs on our site. A candidate applies. You interview them and decide to hire them. You notify us you hired them. We send you an invoice. You pay us a fee. I'm absolutely stunned that this works. > For one thing, our contract imposes a late fee for failing to notify us of a successful hire. And the fee increases every month that they don't tell us. This is a pretty good deterrent. Is it? It sounds l…

Would you rather - save the expense of the agency fee (3 months salary) but lose access to the job board which has already found you one good candidate, or pay it and stay on the job board? Keeping in mind that the employees are likely staying much longer than 2-3 years, because Japan.

Plus burn the bridge completely in an industry where reputation is one of the key aspects?

And on top of that risk a potential legal action?

Re: How and why I built Japan Dev

#49

Post by shreddit »

nisegami wrote: post #39
jand wrote: post #20

Earlier quoted context omitted.

And: In order to keep the spirit of protecting the creditors of GmbH/UG - while having only to deposit 1 EUR to the UG (haftungsbeschränkt), the UG has to "warn" all potential business partners by carrying the "(haftungsbeschränkt)" (limited liability) suffix as part part of the company name in all written communication (roughly).

Is that meaningfully different from the LLC suffix in the US?

Yes, because Germany already has a “LLC”, its GmbH. but if you have less than 25k you have to call yourself “UG (haftungsbeschränkt)”, which, in the end, has the same meaning, only spelled out…

it’s like a warning message or something

Re: How and why I built Japan Dev

#50

Post by RicoElectrico »

foepys wrote: post #11
Grimburger wrote: post #4

This was incredibly well-written and an enjoyable story. Congratulations on pushing through and getting traction. Something that resonated: > We had to put 5 million JPY (~$45k at the time) in our business bank account and leave it there. For... some reason. Living in Asia I've come across this bizarre government obsession with "money in the bank" when dealing with them: "You need $15k in a bank account to apply" "Ok…

In Germany there is a similar thing where you need to deposit at least 25,000 € as collateral to be able to create a GmbH (similar to an LLC). This is meant to pay for debts in case the GmbH goes bankrupt. But the government recognized that this was a problem so the "UG (haftungsbeschränkt)" was made possible where you are only required to deposit 1 € initially and than can deposit more each year until you can conver…

For Polish sp. z o.o. - initial capital minimum is 5000 PLN. It used to be 50000 PLN before 2009.
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