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Permalink Reply by Paul Alfred on March 17, 2011 at 10:46am

Joel ...I would have stayed for 5 years before going off on your own ... Then build a cash capital base to support you for 1 year with assuming any  additional income ...  Before Launching already have a game plan of the clients you wish to establish a steady monthly flow of business with.   

 

This way you can dedicate 100% of your effort on building the business, you are not worrying about the cell phone or mortgage payment coming up.   You have a steady job order flow with a focus of picking up 1-2 new clients every month.

 

My 2 cents ...

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Permalink Reply by Rebecca B. Sargeant on March 17, 2011 at 10:48am

Joel ~ 

 

We all thinking hanging out our shingle is going to make us a million dollars in the first three months.  What we never hear ANYONE say is "it takes a year!"  This is your "build year!"  Here are a couple of my suggestions:

1. Make sure you have steady activity when it comes to sourcing, qualifying, submitting and getting sendouts.
2. Find a support network of other recruiters you can call and ask questions too, vent at, share your good news...whatever it is. These people will keep you going long term because working from home is lonely!
3. Tap into a split network where you can get viable orders and get revenue coming in while you build.

I hope these couple of things help.  We have all been where you are...keep GOING!!!!!

 

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Permalink Reply by Joel C. Riet on March 17, 2011 at 10:52am

My primary focus is accounting and finance. The potions I am working on are corporate tax in three different states.

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Permalink Reply by Joel C. Riet on March 17, 2011 at 11:11am

Jerry,

 

My primary focus is accounting and finance. The potions I am working on are corporate tax in three different states.

Jerry Albright said:

What kind of positions?

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Permalink Reply by Joel C. Riet on March 17, 2011 at 11:14am

Thanks Rebecca,

 

Those are great ideas, thanks for your feedback.  Any thoughts on where to go in finding a split network I can trust?

Rebecca B. Sargeant said:

Joel ~ 

 

We all thinking hanging out our shingle is going to make us a million dollars in the first three months.  What we never hear ANYONE say is "it takes a year!"  This is your "build year!"  Here are a couple of my suggestions:

1. Make sure you have steady activity when it comes to sourcing, qualifying, submitting and getting sendouts.
2. Find a support network of other recruiters you can call and ask questions too, vent at, share your good news...whatever it is. These people will keep you going long term because working from home is lonely!
3. Tap into a split network where you can get viable orders and get revenue coming in while you build.

I hope these couple of things help.  We have all been where you are...keep GOING!!!!!

 

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Permalink Reply by Jerry Albright on March 17, 2011 at 11:21am

 

Joel - I just received this email from a new member in the Virtual Recruiter's group here.  Maybe you can connect with him:

 

Good Morning:

http://www.linkedin.com/pub/tony-marshall/28/100/508

My name is Tony Marshall. I am an Independent Executive Recruiter. I am looking to partner with Recruiters from the following Industries:

Finance/Accounting

Logistics/Transportation/Warehouse

Procurement/Buyer/Supply Chain

I have several years Staffing Industry experience, with a successful track Record. I am seeking to build relationships with Recruiters that are professional, team-oriented, and trustworthy. I am always commited to excellence. I have an excellent candidate pool of qualified candidates, ready to take positions immediately. Please feel free to view my linkedin.com profile or email me at t.marshallexecutiverecruiter@gmail.com.

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Permalink Reply by pam claughton on March 17, 2011 at 11:33am

Joel,

 

I didn't go on my own until I'd been with my firm for 10 years and even then I was nervous. But, because I'd been doing it for so long, I already had a bunch of former co-workers lined up to do splits with. So, I'm not typical in that I've only done splits with people I either know or met through my current network of splits partners, and most of us worked together at one point, so we all work similarly which is nice. However, you could meet people through here possibly as Jerry suggested.

 

When I started I also planned on 6-12 months before having steady incoming cash flow and I invested in training, databases and research. It's hard to do this job well when you're totally stressed about money.  I actually don't think it's a bad idea to have a part-time job, maybe bartending or serving, something in the evenings that pays well enough that it can carry you so you can focus full-time during the day.

 

When I first started recruiting at the agency, I kept my restaurant job on the weekends for six months until the commission checks started rolling in. Working weekends was perfect as it didn't interfere with the normal work week and the extra cash helped tremendously.

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Permalink Reply by Joel C. Riet on March 17, 2011 at 11:39am

Thanks Jerry for the help, I will reach out to him!

Jerry Albright said:

 

Joel - I just received this email from a new member in the Virtual Recruiter's group here.  Maybe you can connect with him:

 

Good Morning:

http://www.linkedin.com/pub/tony-marshall/28/100/508

My name is Tony Marshall. I am an Independent Executive Recruiter. I am looking to partner with Recruiters from the following Industries:

Finance/Accounting

Logistics/Transportation/Warehouse

Procurement/Buyer/Supply Chain

I have several years Staffing Industry experience, with a successful track Record. I am seeking to build relationships with Recruiters that are professional, team-oriented, and trustworthy. I am always commited to excellence. I have an excellent candidate pool of qualified candidates, ready to take positions immediately. Please feel free to view my linkedin.com profile or email me at t.marshallexecutiverecruiter@gmail.com.

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Permalink Reply by Robin Harpe on March 17, 2011 at 12:49pm

Joel:  Fabulous advice.  When I counsel clients who want to "fire their job" one of the first items to discuss is how long can you remain afloat before you will get nervous (how long can you afford this).  And, what are the alternatives.  It appears to me you might have jumped into this without first making a solid business and marketing plan.  You are now an Entrepreneur and their mindset is different than the traditional workforce.  I interviewed Barbara Corcoran, star of Shark Tank and NYC Real Estate expert (you may see her on the news stations).  We discussed being an Entrepreneur and she advised that not everyone should be an Ent. and that the real definition is someone who jumps off the roof and builds their wings as they fall.  She also said those folks who want you to plan, plan, plan first before starting are the MBA types.  So, I'm guilty of that part and you certainly fall into her definition of the Ent.  So, now what do you do --- you set down for a couple hours and really think why you are unique, what you have to offer, what kind of customer service you bring to the table --- and then armed with your plan (including your financial forecast) you note how many calls it takes to get # of qualified resumes that will be presented to the client and offered the job.  You do those activities (calls and searches) before you do anything else; you send time on your business and marketing after you have completed calls daily.....and that right now includes the weekends until you fill your pipeline.  Praying doesn't hurt either as was written about Faith.  And, never start your day before you finish your day!! Jim Rohn always preached that you must plan your day tomorrow at the end of today -- and you are ready to hit the ground running tomorrow morning.  I'll add put the tasks in priority order - doing the things you don't want to do first before anything else.  I successfully went from the Corporate HR world to the recruiting - headhunting world - to starting my own career coaching business on the side as an extra offering......You can do this too --- just keep in mind WHY you are doing it, never lose that focus.

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Permalink Reply by Sandra McCartt on March 17, 2011 at 1:06pm

Joel,

i work accounting and tax.  Just placed a tax manager with an oil and gas firm in Colorado.  Shoot me an email with what you need and where.  If i have any candidates who might fit i will give them to you as a firm warming present.  Don't have anyplace to go with them right now.  I am a generalist so i am off and running on several other seaches so it would be a service to these candidates if someone can help them.

sandra@prosearchtexas.com

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Permalink Reply by Delores Ipms on March 17, 2011 at 2:00pm

You guys are so great! The support system here is just so profound. The best thing to know is that yes there is competition out there but everyone can have their own piece of the pie. There should be nothing to get discouraged about. Your previous success motivated you to go out on your own so you just need to figure out what parts you were not engaged in on the business end and learn how to do them yourself.

 

Dedicate some time into cultivating valuable relationships with these businesses - "make business friends" this builds loyalty so that when an organization is hiring they can let you know. 

 

Be patient with yourself. Even though the pockets may not be so patient, but allow yourself some time for the trial and error before giving up.

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Permalink Reply by Joel C. Riet on March 17, 2011 at 3:24pm

Thanks Robin, you have some great stirring insight in a nutshell, I had no idea I would run into so much helpful information with starting this forum. I'm so glad I did!

Robin Harpe said:

Joel:  Fabulous advice.  When I counsel clients who want to "fire their job" one of the first items to discuss is how long can you remain afloat before you will get nervous (how long can you afford this).  And, what are the alternatives.  It appears to me you might have jumped into this without first making a solid business and marketing plan.  You are now an Entrepreneur and their mindset is different than the traditional workforce.  I interviewed Barbara Corcoran, star of Shark Tank and NYC Real Estate expert (you may see her on the news stations).  We discussed being an Entrepreneur and she advised that not everyone should be an Ent. and that the real definition is someone who jumps off the roof and builds their wings as they fall.  She also said those folks who want you to plan, plan, plan first before starting are the MBA types.  So, I'm guilty of that part and you certainly fall into her definition of the Ent.  So, now what do you do --- you set down for a couple hours and really think why you are unique, what you have to offer, what kind of customer service you bring to the table --- and then armed with your plan (including your financial forecast) you note how many calls it takes to get # of qualified resumes that will be presented to the client and offered the job.  You do those activities (calls and searches) before you do anything else; you send time on your business and marketing after you have completed calls daily.....and that right now includes the weekends until you fill your pipeline.  Praying doesn't hurt either as was written about Faith.  And, never start your day before you finish your day!! Jim Rohn always preached that you must plan your day tomorrow at the end of today -- and you are ready to hit the ground running tomorrow morning.  I'll add put the tasks in priority order - doing the things you don't want to do first before anything else.  I successfully went from the Corporate HR world to the recruiting - headhunting world - to starting my own career coaching business on the side as an extra offering......You can do this too --- just keep in mind WHY you are doing it, never lose that focus.

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