Replies to This Discussion

Permalink Reply by Slouch on May 23, 2008 at 10:11pm

Is this for real? i hate to question it but it sounds like a get rich quick scheme

Permalink Reply by Joshua Letourneau on May 24, 2008 at 9:58am

George, good morning. I appreciate your tenacity - if you don't mind, let me offer a suggestion:

If you are seeking "job listings" or what many term "search assignments" . . . or you're looking to market your candidates, there are ways to do this in a low-cost manner using many of today's Vendor Mgmt Systems.

I say this because the population of recruiters here are quite savvy and will doubt your current approach, particularly the notion of "residual income". There are other mechanisms if you're seeking more junior-level players, but this RBC channel probably won't yield you the results you're looking for.

Hope this helps.

Permalink Reply by George C. Schwelling on May 24, 2008 at 12:12pm

This is not a get rich scheme. I have gotten job listings from one company and very often, I get follow on job listings. What I mean by residual income is once a recruiter lands an account which gives me a high level job listing, I pay a split fee with the recruiter and if I get additional job listings from the same firm in the future, I will make the placements and continue pay split fees to the recruiter. I you or anyone else is interested in working with me, send me your email address so I can send you a contract, a script and more information on why I feel my candidates are a cut above most other candidates who may not have net worth's of $1M or more.

Permalink Reply by George C. Schwelling on May 24, 2008 at 12:17pm

See my answer to Slouch. I feel that neither you or Slouch are going to want to do the phone work it requires to get the high level job listings I am seeking but I am sure that there are many independent recruiters who may be willing to work with me to get the ongoing placement fees I am offering. I have the candidates to fill high level jobs and I will make the placements if I get job listing.

Permalink Reply by Slouch on May 24, 2008 at 4:19pm

George, In my opinion, a great candidate is a candidate that is a match for a job order I already have. to say I have a great database of candidates but I need people to find job orders for them is not in my book a way to get great recruiters to work not even your orders but your candidates. I can assure you that if you want results here, you should change the messaging and attitude of the post. I can help if you want. let me know

Permalink Reply by Joshua Letourneau on May 24, 2008 at 7:38pm

George, as are most recruiters, I'm on the phone all day. I can assure you, however, that calling into CEOs' does not result in your concept of "job listings." Times have changed. Personally, I don't work "splits" - I may be odd, but I prefer to keep 100% of what I bill. If you're looking for dedicated business development, you can find it in our industry, however. If it's pure "job listings" you're after, I can turn you on to 1000+ in less than 10 minutes . . . and you don't need any biz dev to work them (i.e no need to split with anyone).
P.S. "High net worth" does not correlate to talent. I have zero clients that ask me, nor care, what a candidate's net worth is. They care about what the candidate can do for them. Please don't take offense to that; I'm just being honest.

Permalink Reply by George C. Schwelling on May 24, 2008 at 9:25pm

Slouch, send me your personal email so I can respond to you in private. I have 3 job listings which I have been working on for several years and I have placed hundreds of candidates so i have been successful in doing recruiting work but I do not have the time to get job listings for high level candidates which is a full time job. Hence my search for independent recruiters to work with me. I do not have any difficulty in filling positions once i have job listings but getting C level job listings is not that easy to get. Any suggestions you may have would be appreciated but send them to my email address:schwellingg@comcast.net and include your phone number. The same goes for Joshua Letourneau.

Permalink Reply by pam claughton on May 27, 2008 at 11:56am

George,

Are you new to recruiting? I've never heard of search assignments, especially for senior level roles referred to as 'job listings'. Getting the clients does not have to be a full time job, and honestly you should be the one doing it, especially if you are trying to get those executive level searches. You get into new clients by selling yourself and your history of filling searches at that level. If you have made hundreds of similar placements, you should be able to easily generate new clients by referrals from your existing clients. Also, why would you continue to give away half of each placement if you will be managing the client and the candidate, that doesn't seem like good business.

I'm a little confused too as to why you are focusing on the net worth of your candidates? How is that relevant?

I took a look at your site as well, and you seem to be doing things very differently, you only charge a 10% fee, but over a two year period, paid monthly. I wonder how seriously companies with C level searches will take you, when the majority of these searches go out on a retained basis at fees ranging from 30-35% plus expenses?

I think you are fighting an uphill battle, but I do wish you well.

Permalink Reply by George C. Schwelling on May 27, 2008 at 3:41pm

When I was a money manager, other money managers could not understand why I would manage money for other stock brokers' clients on a 50% split of commissions or fees but the offer appealed to stockbrokers at over 100 broker dealers nation wide and I built a nich for myself where I ended up growing from $1M a year in gross commissions to as much as $5M a year. I believe I can do the same thing in the recruiting business by working with high level executive recruiters who like my model and are willing to work with me to talk to CEOs to see if they would be willing to work with me in giving me their requirements for a new executive to head up some new venture, department, product or division. I am not trying to explain all the details in my initial offer but I would be willing to go into greater detail with someone who may be interested in working with me. I am finding that some of my own high level candidates who have run start ups to Fortune 500 companies like what I am offering and I have contracted with some of them to work with me to find "job listings" for my other high level candidates. The high net worth may come into play if I get a job listing for an executive to work on a sweat equity basis for a few months before he starts to get paid or in other cases, I have talked to CEOs who say it is comforting to know that most of my candidates are financially stable if they are going to help run their firm. You would be surprised to learn how many executives there are out there that are living from hand to mouth and would not be a good risk to hire to run some company. Thanks for your comments.

Permalink Reply by Joshua Letourneau on May 28, 2008 at 10:24am

George, your annuity fee schedule is interesting and non status-quo. Therefore, I do find it compelling. Based on my calculations, however, it's worth noting that a 10% fee paid out over 24 months (assuming a 4% interest rate) is actually 9.79%. That's a 2.1% savings they're receiving by paying out on an annuity basis - not bad, but not great . . . with the exception being their ability to ensure positive CF in the meanwhile. In addition, if the organization were to 'hold' the funds in a high-yield investment account while paying out the monthly annuity, there would actually be $$$ left in the account at the end of the annuity payouts. A CFO would bite here . . .

The risk here, however, is much more on you than them. Anything can happen over a 24 month period . . . so you have to ask yourself to calculate risk from client to client. Is your client an acquisition target; do they have financial problems; etc.? A 24 month annuity paid out from Google may not be the same as the prospects of a 24 month annuity paid out by Ford or Chrysler, etc.

In regards to your comment on sweat equity and the issue of representing high net-worth candidates for this purpose . . . I do admit this would be appealing to start-up firms (not F500, however). Some of your candidates may have the stomach for startups, however some may not - this would be on you to determine. In all sincerity, your value proposition seems consistent to that of a Venture Capital firm, the difference being that you represent "people with money" (an Angel-Employee-Owner, if you will), while VC firms represent the capital. Let me ask, however: does the notion of a true start-up paying your fee over a 24 mth period sound attractive? I ask because 90% of start-ups fail.

You're on to something here, but be very wary of the minefield in which you're navigating - in my eyes, you're representing potential Angel Investors that may want to get "back in the game" . . .

Permalink Reply by Slouch on May 28, 2008 at 10:52am

There are easier ways to be super successful in this business. No need to be super creative with fees and guarantees and unique things that need brain power to comprehend. Just my opinion.

Permalink Reply by George C. Schwelling on May 28, 2008 at 10:53am

Thank you for your comments. Basically, I started out offering my candidates to private equity firms and I have 7 firms which I work with now and they say that my candidates are the best they have seen but they do not need very many from time to time. Perhaps the following will clear the air so you will see where I am coming from:

Blue Ocean Strategy: How your business can leave the competition behind.

A CEO of a client firm of mine recently sent me a book entitled Blue Ocean Strategy which, he said is a strategy his firm uses to gain market share in areas where others are not even trying to get new business. Companies need to go beyond competing. The only way to beat competition is to stop trying to beat the competition. If you want to do more business and make more money, read the book. No, I an not in the book publishing business nor do I get paid if you buy the book but I am just passing on some information that may help you grow your business once you understand the principles underlying this strategy.

Executive Reviews

Read what top executives have to say about Blue Ocean Strategy........

• After reading BLUE OCEAN STRATEGY, you will never again see your competition in quite the same light. Kim and Mauborgne present a compelling case for pursuing strategy with a creative, not combative, approach. Their emphases on value innovation and stakeholder engagement alone make this book a must-read for both executives and students of business.

Carlos Ghosn, President and CEO, Renault & Nissan Motor Co., Ltd.

• This is an extremely valuable book to read. It examines the experience of companies in areas as diverse as watches, wine, cement, computers, automobiles, and even the circus to shed new light on the development of future strategies.

Nicolas G. Hayek, Chairman of the Board of Directors, Swatch Group

• I recommend BLUE OCEAN STRATEGY to any executive in the private or public sector. It shows how to break from the status quo, create a winning future strategy, and execute this fast at low cost. As much a practical guide as an eye-opener.

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• Kim and Mauborgne’s strategies are not only original but practical. Our company has used them and obtained powerful results. The authors chart a bold new path to winning the future.”
Patrick Snowball, Chief Executive, Norwich Union Insurance

The CEO who sent this book said that he felt that without knowing it I am following many of the principles of this strategy by offering a new pricing model covering my recruitment fees to CEOs seeking high level executives who are a cut above the normal executives. I have over 1,000 C level executives who have run start ups to Fortune 500 companies and they are unique in that all of them have high net worth’s which in most cases they have earned by helping firms they have run in the past grow to become larger and more successful companies. When I can talk to CEOs about why they should consider hiring one of my executives, I try to get them thinking of what they can do to grow their business by thinking outside of the box and coming up with a new or improved product or service that they need to introduce to new customers and hire someone who can spearhead such a project.

If any CEO is willing to talk about what we offer, we would welcome a call. If any recruiters are willing to work with Schwelling Recruiting Services to help us reach out to CEOs to see if they might need our unique services, we would welcome an inquiry for more information on how we would work together. Rome was not built in a day and it will take some time to get our message out to firms that may not know what we offer but in due time, I expect to grow our business considerably and share our profits with the right partners that join us.

George C. Schwelling

Executive Recruiter

Schwelling Recruiting Services

Silver Sprin

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