Recruiters spend a long time on LinkedIn, and if you are looking to start a recruitment business, you’ve likely asked yourself if you need to pay out for a LinkedIn Recruiter licence. In my Essential Checklist for Your New Recruitment Business blog, I questioned whether upgrading to LinkedIn Recruiter is worth the money. So, I wanted to examine the options in more detail and find out what…Continue
Added by Rhys Jones on November 30, 2020 at 8:52am — No Comments
Rhys sold out of his previous recruitment businesses in 2012 to focus solely on helping recruiters set up and build recruitment businesses. Follow Rhys on LinkedIn or contact him direct …Continue
Added by Rhys Jones on November 23, 2020 at 10:10am — No Comments
Welcome to my eBook. As you’re taking the time out to read my guide on how to set up and build your own recruitment business, I don’t think that it’s a huge assumption to make that you are considering becoming your own boss. If that is the case, you are already improving your odds of being a success by taking your new job of business owner seriously and doing some research.
It’s a scary statistic that 4 out of 5 new recruitment businesses don’t make it past 2 years,…Continue
Added by Rhys Jones on September 29, 2020 at 8:33am — No Comments
So, you’ve made a good start, money is starting to tot up in the bank account and like most recruitment start-up owners you’re keen to spend it, hopefully on your new business! If you’re ambitious to grow your business and your goal is to grow a good-sized company, the chances are that your first investment to you is a no-brainer, your first employee, but is it really the best option?…Continue
Added by Rhys Jones on September 24, 2020 at 8:30am — No Comments
As I speak to lots of recruiters who want to build their own recruitment company, after all my profession is investing in startup recruitment businesses, I get a fair few whose goal from day one is to build to sell. Is this really a smart move?
As with most questions like this it depends who you ask. It also depends on circumstance. For example, if…Continue
If you’ve read any of my other blogs on building a recruitment business to sell, I actually advocate not selling, but succession planning yourself, tying in the employees of real value with shares and enjoying the profits of this solid business for years to come. So, for this reason your offer of shares may be from a forward-thinking…
Added by Rhys Jones on June 5, 2019 at 9:35am — No Comments
Since setting up Davidson Gray to invest in and support recruitment business start-ups, I must have had hundreds of conversations with recruiters considering working for themselves. The biggest reason by far most recruiters settle for a new job rather than setting up, is the desire for security.
However is moving jobs really more secure?
Statistically, 4 out of 5 new recruitment business start-ups don’t last beyond 2 years,…Continue
Added by Rhys Jones on January 19, 2018 at 4:35am — No Comments
I find it ironic the recent popularisation of coaching is having the detrimental side effect of reducing its use, particularly in recruitment. I’ve seen as coaching has become the buzz word for staff development, training is now often referred to as coaching, so real coaching is being squeezed out.
Coaching is extremely different to training, if you really want to realise your own, or your employees potential effective coaching is vital.
I recently posed the question on my…Continue
Added by Rhys Jones on January 3, 2018 at 5:00am — No Comments
Oddly enough it’s common for recruiters who progress beyond running a desk to stop using KPI’s. It’s the same for a lot of SME business Owner / Managers who not only don’t KPI themselves, they don’t even track the businesses progress beyond placed and invoiced figures. This is easily done in the early days of growing your business, as the owner makes the gradual transition from running a desk to running the business, but remember “you can’t manage what you don’t measure” and if you aren’t…Continue
Added by Rhys Jones on September 29, 2017 at 4:46am — No Comments
Mention KPI’s to a lot of recruiters and you get an instant negative reaction. As explained in the book “The Chimp Paradox” by Steve Peters, the brain gets infected by bad experiences, so if a recruiter has been “beaten with a stick” over KPI’s it’s natural their view of them will remain negative and they’ll reject the concept of KPI’s being a good thing.
KPI’s used well are an amazing tool to plan and deliver success, highlight development areas and grow recruiters into business…Continue
Added by Rhys Jones on August 24, 2017 at 10:49am — No Comments
Following on from my blog "why bad managers give KPI’s a bad reputation". this blog explains how to work out KPI activities targets using efficiencies bespoke to each recruiter. I have always been an advocate of KPI’s being tailored individually. Broad brush targets don’t play to recruiter’s strengths, react to commercial changes on the recruiters desk and can demotivate…Continue
Added by Rhys Jones on August 24, 2017 at 10:30am — No Comments
Nothing in life is guaranteed however employed recruiters only get to keep on average around 33% of what they bill. As a self-employed recruiter you should be taking at least 70% of your placements, even taking account of the running costs of your business. That’s well over a 100% pay rise!
I can speak from the personal experience…Continue
Added by Rhys Jones on January 12, 2017 at 4:43am — No Comments
Businesses are valued based on a multiple times EBITDA or in layman’s terms a ratio times profit. The profit figure used is generally based on the last 3 years with a weighting added to each year to give you the amount used for valuation calculation purposes. As the profit amount given to the tax man is adjusted to reduce tax some of these adjustments are taken into account,…Continue
Added by Rhys Jones on August 24, 2016 at 9:00am — No Comments
If you’ve never had a Non Exec, a Business Coach, or a Mentor, but have been successful with your business so far you could ask why you would need one. I was in this position myself five years into growing my first business. My profits were excellent, staff retention was great and the office culture was fantastic. Why then would I need any help? The answer can be as simple as “you’re good, but do you want to be even better?” Novak Djokovic is without doubt the best tennis player in the…Continue
Added by Rhys Jones on July 27, 2016 at 5:31am — No Comments
If you haven’t built or run a business yourself and don’t have anyone with the experience of running or building a recruitment business to help you, it can seem too big a task to start, where do you begin? And how can you be sure you’ve covered off everything you need to do to get it right first time?
Having someone who has “been there, done…Continue
Added by Rhys Jones on May 11, 2016 at 9:00am — No Comments
Once you get a “yes it’s a good time to talk” or they say no and you arrange another more convenient time, that’s the time to Pitch.
As this is one of the more interesting parts of the process, a lot of recruiters get over enthusiastic and just jump into making the headhunt calls and wing it, wrong!…Continue
Added by Rhys Jones on April 6, 2016 at 5:00am — No Comments
You start as a Contingent Recruiter, learn the business, then what next? For many becoming a Manager isn’t appealing so a lot of recruiters want to know how to become a Headhunter, is that the next career step?
Why do you want to become a Headhunter?
I’ve asked this question of many recruiters who wanted to make the career move to join my old Headhunting firms, and a lot didn’t really know. Headhunting seems to have this…Continue
Added by Rhys Jones on January 15, 2016 at 4:30am — No Comments
I would say the most dangerous trap most recruiters fall into when becoming self-employed for the first time is failing to manage cash flow. The adage you must not forget when you first set up is:-
“Placements are vanity, invoices are sanity but CASH is king!”
This may seem obvious but when you’re employed you often…Continue
Added by Rhys Jones on January 13, 2016 at 5:00am — No Comments
This is probably the most common question I get asked by recruiters wanting to set up their own recruitment business. So how much does a recruitment start up cost? It’s very much like how long is a piece of string. It has so many variables it’s impossible to give a cost for everyone, plus it is influenced by how much you can afford, want to invest, need to invest to get the…Continue
Added by Rhys Jones on June 16, 2015 at 5:00am — No Comments