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You know it, I know it, we all know it.
So, when you clicked on this article & chose to take time out of your day to listen to us, part of you must have done that with a little bit of cynicism. After all, how can anyone sit here & suggest that you can “ensure recruitment start-up success”?
Because really “ensure” is just another word for guarantee & therefore I guess the question is – can you really guarantee Recruitment Start-up success?
& we all know the answer to that, don’t we? One, big, fat & hearty no.
So I guess I wanted to start this by saying, I’m sorry.
Look I’d love to sit here & share with you a risk-free, bulletproof, failsafe way to ensure, heck guarantee, that your Recruitment Business will succeed. I’d love to say it was as easy as suggesting you download a well-branded PDF with “10 steps to ensure Recruitment Start-up success”, follow it for 3 years & at the end you’ll have a business with a multi-million pound asset value – I really would.
Yes, it would make our jobs here at Isotope mundane, boring & uneventful but it would be easy.
But that’s where things don’t add up. Starting your own recruitment business isn’t easy. Starting your own recruitment agency is far from that & that’s part of the attraction, isn’t it?
& therefore we’d have to be idiots not to be aware of the challenges that “our guys” face. & we’d also have to be idiots to not know that you can never truly mitigate every risk out there. & we’d also have to be idiots (there’s a theme here) to not realise that there are processes you can put in place to help you & your recruitment business achieve the goals & ambitions you have.
So, let’s assume you’re a Recruitment Consultant looking to start their own business & you’re looking for some practical & pragmatic advice to ensure…no, guarantee….no, alleviate the challenges that you will face in your own agency.
Whether that’s personal cash-flow or professional cash-flow, respect its importance & know that this will always be the biggest chokehold on your business in the opening 9-12 months.
When it comes to personal cash-flow, our advice is if you are looking to run a perm’ focussed recruitment agency, we would expect a recruiter to have between 4-6 months’ worth of “salary” behind themselves. The permanent recruitment world being what it is, after navigating through multi-stage interview processes & (lengthy) notice periods, we tend to see the first invoices being paid within that timeframe.
For our temporary focussed clients, it’s a little different, as I am sure you can imagine. Here we tend to see – with the right back office provisions in place – we would expect a recruiter to require between 2-3 months’ worth of “salary” being them. Just be sure to ask Isotope to ensure your back office provisions are in place before you start!
Loosely speaking there are two “types” of support networks we see being valuably to recruiters looking to start their own agencies. One is their personal network; usually a selection of loyal family & friends there to emotionally support you during the challenges that come with running your own business.
Second is your business support network; usually a team of experts, with proven track records in launching & supporting recruiters in their own recruitment business. These guys will know a lot about the challenges you will face, they’ll ensure you have the right foundations in place to help you achieve whatever it is you are focussed on & they’ll commit to being there for you & your business with all the practical, pragmatic & personable support you need during your relationship with them.
Sound familiar?
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