It’s no secret that I love following my passion for recruitment and helping recruiters to achieve their dream of financial freedom and independence. We’re currently working with over 200 of our portfolio clients to ensure they successfully attain their personal goal of owning and running a profitable, completely independent recruitment businesses.
What I’m most proud of is that these 200 Independent recruiters have shared over £15million in revenue so far this year.
Once you’ve decided to take the leap and start your own recruitment business there are a few things you’re going to need to consider when looking for investment. No matter how much research, consideration and planning you do, the stakes are often high and getting the right support and investment from the start is often the biggest key to success. When we launch a new recruitment venture, it needs to be done as a partnership to ensure future success for both parties.
Being an entrepreneur takes courage and commitment and there are some key attributes we look for when making a choice to commit to you and your business. Here are our top reasons why we wouldn’t enter a relationship with some potential recruitment business owners.
You’ve Set yourself up to Fail
Past success can a reliable predictor of future success but if you haven’t worked in a traditional ‘360’ recruitment role before and there’s no evidence of consistent billing, it’s going to be very difficult for us to take a leap of faith. Learning agility is important, however, core recruitment disciplines, knowledge of the industry, skills and recruitment experience are absolutely paramount.
Be Honest and Realistic
Right from the start, you’ll need to be honest, open, transparent, straight forward and realistic. We understand we’re all different and we wouldn’t have been doing this for so long if we didn’t understand recruiters. It’s important to us our prospective clients share the same values and understand the partnership concept of our investment model. Be honest about what you expect to achieve, we’re not asking you to reveal every little detail, however we’re here to help and support your business, so if we don’t have all the information it may lead to consequences further down the road.
Your Figures Don’t Add Up.
The decision to work for yourself is quite often a psychological seismic shift. You’ve done well to get this far. The fact of the matter is, you are no longer reliant on a salary at the end of the month. Your income is dependent on your business making enough sustainable income to survive so some sort of strategy and forward-thinking is essential.
You Want to Run Before You Can Walk
Your understanding of where you’ll be when you first start your business should be based on a level of sacrifice, geared towards longer-term gain. If you want to start off with Trump Tower as your first office, 100 LinkedIn Recruiter accounts, a new Mercedes, a piggy bank top-up fund and a database full of only top talent, it’s likely you’re going to be seriously disappointed.
You’re Resistant to Listen to Advice
We offer expertise when it comes to a wealth of areas to do with recruitment start-ups like TAX and VAT, business planning, creative and social media, technical, legal and most recruitment industry changes. We’re here to help and guide you and your business in each important area and we can identify the right solutions for you and your business.
You Motivated for the Wrong Reasons
We’ve all had a bad week at the office which has made us think about other options, especially if your boss is giving you a hard time. It could be that you’ve been looking for another role but not yet had any luck and starting out by yourself seems like an easy option. You need to ask yourself why you really want to be dedicated to running and owning your business, as it takes courage and commitment, to really succeed as an entrepreneur.
We all often want to try something new but when it comes to recruitment knowing and specialising in your chosen sector is going to make a big difference to how many placements you make, affecting how much money you’ll make. If haven’t got enough contacts and a real understanding of how the recruitment market works in that area, you may struggle to succeed
We’re Not the Right Option for You
Sometimes we need to accept, that we’re just not the right solution for you and your business. It might that you want to consider other options and that a partnership wouldn’t be of benefit to either business.