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Five Most Common
The initial decisions you make have a tremendous impact on the success or failure of your new Staffing and Recruiting Firm. Do all you can to avoid the five most common mistakes made by new owners including:
- Generalist vs. Specialized
If you want to generate the highest level of sales, it is important to select a niche or area of specialization. This allows you to multi-use your job orders, temp assignments or contracts and clients. - Exit Plan Not Established
If you do not establish your exit plan, you will make mistakes when you are making initial business decisions. A specific exit plan provides you with clear direction and clarity when setting up your business.
How do you Establish Candidate and Control?
Many trainers in the Staffing and Recruiting Profession advocate the establishment of candidate and client control. Think for a moment about the last time someone attempted to control you. How did you react?
It is for this reason that I believe that instead of attempting to establish control, you focus on establishing rapport based on trust. Trust is not something you can demand. It is something you earn by proving to your clients and candidates that you care about them, you can be trusted and you do what you promise them.
Your long-term goal is to become a Trusted Advisor to your clients and a Lifetime Agent to your Candidates.
Compete with Established
Most new business owners are worried about competing with established firms. It is important for you to understand that employers are having problems identifying and hiring the top talent they need to hire in order to hit their goals. They are also having issues retaining their current top talent and they know job satisfaction is at historic lows. In addition, many of them have baby boomers who are retiring.
When they realize they can trust you to provide them with talent, they will utilize your services. Prior to making your first client development call it is important that you know why someone should utilize your services by sharing your personal brand. You can’t sound like every other recruiter who is calling them. Your personal brand needs to differentiate you from your competition and should be things that your competition can’t say.
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A Blended Business Model is
Our prospective clients will have needs for full-time employees, as well as contractors. The direct placement business will provide you with lucrative fees, but is not a reoccurring revenue model. Temp or contract provides you with a reoccurring revenue model. It’s great to start the month knowing you have contractors working vs. starting from zero at the beginning of each month. If your exit plan is to sell your business, a blended business model will provide you with the greatest value. It is almost easier to start out providing both direct and temp or contract, so your clients realize you can provide both types of talent. Most companies are utilizing temps or contractors so why leave this business on the table or to your competitors.
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How Do I Attract Qualified Candidates?
In one of your blog entries, you stated that we can’t send candidates that the hiring authorities can find on their own. This leads me to believe that we can’t depend on job boards or advertising to find people. That is obviously, what our clients would do first in addition to posting the jobs on their website. If this is true, where do we go to find qualified candidates?
The answer to your question is from day one you will begin to establish a network of talent who understands the type of person you represent. You will make daily networking calls to individuals who are working to obtain referrals. Most of the individuals you will present are currently successful and working, but would make a change for the right opportunity.
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